Just stop paying (credit card, pay, interest rate, save)

[GypsySoul22]

Everyone falls on hard times at one point or another but NOT paying your CC is unfair to people who DO. Why do you think this country is in so much trouble? Overspenders and DEADBEATS.

A deadbeat is someone who buys stuff of credit---better and bigger house, car, and other 'toys' then refuses to pay up...

There are people who NEED credit to pay for their food or medical...not deadbeats.

[loose cannon]

I was in a bad mood yesterday. I will not be doing what I said. What I will be doing is contacting the debt recovery agency that is taking $190 of my money each month and telling them I want out! I can pay these companies on my own. I have $500 left on one and $4,300 on the other. They're charging me more money to make payments and one of them is not getting to the creditor on time so Im getting charged late fees anyway. The CC will not move it's date. So, Im telling this company in Florida that I want out. They will stop taking this money out of my account. I can do this on my own! The question is will this company fight me. I do not believe I signed a contract stating I have to stay with them. Im going to contact them and tell them to end our arrangement.

[Dd714]

Originally Posted by loose cannon

I was in a bad mood yesterday. I will not be doing what I said. What I will be doing is contacting the debt recovery agency that is taking $190 of my money each month and telling them I want out! I can pay these companies on my own. I have $500 left on one and $4,300 on the other. They're charging me more money to make payments and one of them is not getting to the creditor on time so Im getting charged late fees anyway. The CC will not move it's date. So, Im telling this company in Florida that I want out. They will stop taking this money out of my account. I can do this on my own! The question is will this company fight me. I do not believe I signed a contract stating I have to stay with them. Im going to contact them and tell them to end our arrangement.

I read the original post and thought "this has GOT to be a joke, a troll post, or someone posting when they are drunk". When you don't pay your debt that means WE pay, the people that you are asking for advice. My response would have been pretty harsh, involving some anatomical advice that would be very uncomfortable if not physically impossible.

Looks like you got involved in one of those rip off debt recovery plans. You have to see exactly what you signed for. They may have some sort of buy out clause. Watch those "debt recovery" plans, some of those are bad deals. Good luck, you aren't THAT much in debt.

[Grasonville]

Originally Posted by loose cannon

. What I will be doing is contacting the debt recovery agency that is taking $190 of my money each month and telling them I want out!

Sorry - that isn't your choice. Unless you start working "under the table" for cash somewhere - and have NO bank accounts at all - your wages can be garnished and your money seized to satisfy the debts lawfully owed.

Once it is turned over for collections the original creditor can no longer even negotiate with you - that is what they pay the collection people for.

I believe the stain of deadbeatness only lasts for 7 years - if you feel like going on the lam for that long - you can run away - but as stated above - better not need a house or a car or an apartment within that 7 years

[loose cannon]

I chose this company which has nothing to do with my cc company. If I have to change my bank account to stop them from taking money from it, I will! I however will still pay my debts. Im just no longer going through a third party. I can do it on my own!

[Threestep]

Originally Posted by Grasonville

Sorry - that isn't your choice. Unless you start working "under the table" for cash somewhere - and have NO bank accounts at all - your wages can be garnished and your money seized to satisfy the debts lawfully owed.

Once it is turned over for collections the original creditor can no longer even negotiate with you - that is what they pay the collection people for.

I believe the stain of deadbeatness only lasts for 7 years - if you feel like going on the lam for that long - you can run away - but as stated above - better not need a house or a car or an apartment within that 7 years

It is the seven-year-myth which unfortunately does not die. The record will stay, the legal ramnifications do.

[Historic Bessemer]

loose cannon needs to listen to Dave Ramsey...........

[GreenMachine]

Loose Canon is going to be kicked off this forum soon....me thinks...

[Threestep]

Come on guys - then he has to use the big cry word again - unfair!

[sierraAZ]

Originally Posted by loose cannon

Im seriously considering calling my cc companies and telling them that Im no longer paying my 5,000 debt as I can no longer afford it and I was drunk anyway when I accumulated the debt. Im literally going to stop making payments. What can they do to me legally? Im just tire of living paycheck to paycheck.. There was a time I could save money and fly the friendly skies! Now, Im stuck. Im just not doing iot anymore. If they want money they will have to come to my house and personally take it from me. Im even going to change my account so they cannot garnish my wages! The heck with them! Any advice or encouragement?

OK, let me start off by saying I'm a chicken, I don't owe a penny, and my credit is pristine. I still thought it was a good thing up until a few months ago when I discovered how exactly our economy, market, and money supply actually work. That being said, I can completely relate to your frustration, particularly to the one I colored in red. This money has ALREADY been extracted from you many times over through printing more worthless paper and entering more worthless numbers on computer screens (more of the latter than the former, but it works the same). It's hardly worth complicating your life for this amount, though...