Just stop paying (collection agency, pay off, american express, 100,000)

[Jillian2]

They can sue you. Attach your paycheck. Attach any other real or personal assets you may have. They can garnish your wages - attach your bank accounts - attach your car - quote.


They cannot sue you if you don't have any assets If you have no savings , no land , no house, nothing , they might try to sue , but can never collect on something you do not have


And I will add. If you are on a fixed income and only have money to pay rent , utilities , groceries or I might say your living expenses , they cannot touch this. If they try , then you can sue them. i am talking of retired people here. Those on fixed incomes.

[UrbaneAspects]

Originally Posted by Tek_Freek

When they catch up to you you'll find yourself in prison. When some big, ugly dude with a body covered in tattoos knocks out all your front teeth - you'll soon wish you had paid up instead of thinking you were being cool by telling the cc company to kiss off. How's your gag reflex?

LOL, ***** you stupid...thats a ****ed up way of telling someone off over a credit card. LOL...I cant stop laughing lol.

So this guy supposed to be sucking **** in prison over some credit cards LOL...you have me laughing

I keep reading what you said over and over again...its so funny. LOL.

Originally Posted by Tek_Freek

When some big, ugly dude with a body covered in tattoos knocks out all your front teeth - you'll soon wish you had paid up

sounds like the italian mafia LOL, **** I cant stop laughing LOL

[Jillian2]

["You will find it increasingly difficult to even rent with bad credit. People like you are bad risks " quote ]


Hey , if you file for bankruptcy it too will be difficult to rent an apartment , or get a loan , etc . So any way you do it , whether you just default on the payments or file bankruptcy , or even debt consolidation or credit counseling services , will hurt your credit for 7-10 years. So simply take your pick.

[joe moving]

Originally Posted by SpeedyAZ

They will probably file a lawsuit and you'll have any possesions of value repo'd (like a car), your wages will be garnished, and your credit will be ruined for many, many years. Do you have no conscience about what you did? You spent someone elses money and now you have the responsibility to pay it back. Act like an ADULT and don't run from your problems.

You guys act as if they can just start taking your money away automatically, or they have some magic powers that make it legal to take your car. really? Last I checked credit card debt is non-secured... there is nothing to back it. If anything, they cannot do any of this repo or garnishing until AFTER they sue you and WIN.

[killer2021]

That is what most people are doing.

Bankruptcies up 40% from a year ago and that is with the new bankrupcy law.

If you lost your job and you have tons of debt or your mortgage is out or control. Just file bankrupcy and walk away from the home.

[lovinCarl]

Originally Posted by Jillian2

["You will find it increasingly difficult to even rent with bad credit. People like you are bad risks " quote ]


Hey , if you file for bankruptcy it too will be difficult to rent an apartment , or get a loan , etc . So any way you do it , whether you just default on the payments or file bankruptcy , or even debt consolidation or credit counseling services , will hurt your credit for 7-10 years. So simply take your pick.

This is BS. I have bad credit (single mom for years w/no support) but I have ALWAYS paid my rent and on time.

I have ALWAYS gotten into the places I wanted because I tell them upfront my credit is not good but I like having a roof over my head and always pay my rent. My rental history is immaculate and that is what got me in to some of the nicest places

Now the hubby and I have cleaned up alot of my credit but even prior when we were just starting on it we got into an elite apt complex in Reno and that included my credit check LOL.

They look at rental history NOT credit history.

[redwine]

Originally Posted by lovinCarl

This is BS. I have bad credit (single mom for years w/no support) but I have ALWAYS paid my rent and on time.

I have ALWAYS gotten into the places I wanted because I tell them upfront my credit is not good but I like having a roof over my head and always pay my rent. My rental history is immaculate and that is what got me in to some of the nicest places

Now the hubby and I have cleaned up alot of my credit but even prior when we were just starting on it we got into an elite apt complex in Reno and that included my credit check LOL.

They look at rental history NOT credit history.

Thats what I say. And I just aked my landlord. She said that she looks at criminal history and rental history.

[averagejoe76]

Originally Posted by lovinCarl

This is BS. I have bad credit (single mom for years w/no support) but I have ALWAYS paid my rent and on time.

I have ALWAYS gotten into the places I wanted because I tell them upfront my credit is not good but I like having a roof over my head and always pay my rent. My rental history is immaculate and that is what got me in to some of the nicest places

Now the hubby and I have cleaned up alot of my credit but even prior when we were just starting on it we got into an elite apt complex in Reno and that included my credit check LOL.

They look at rental history NOT credit history.

I dont agree,You might be able to get a apt with bad credit but they will Require extra month or more deposit.They do view credit as being important.

[ideamaned]

For anyone in the original poster's position, $5000 is too little money to ruin your credit over.

If you are going to ruin your credit, do it big.

[thunked]

There is no moral obligation. In fact this is the only time you have the credit card companies by the balls! Enjoy it!

Credit is the biggest myth in today's financial world.

The high interest they charge is there to mitigate the risk.. you've probably already paid more than 5k in interest so they're just looking for some cream.

Forget it, credit is the worst way to run your life. People with money never use credit unless the interest rate is less than a better place to get returns on their money.

Everyone saying credit is important - you let me know who's going to be buying cars houses or any other crap after all the bankruptcys and foreclosures go through!

In a society with 10% bad credit, they can afford to only service the 90% of people with "good credit".

Good credit is not a constant definition.. soon when over half the nation has low scores your low score will look just fine if you decide you do want to jack yourself by borrowing.

Enjoy your freedom! Remember: CREDIT = MYTH even those who disagree can't deny that credit is relative! Otherwise economy screeches to a halt! Power to the people, love it!

The longer you wait, the better deal you get if you decide to settle. The longer you don't pay the more they start to believe you when you say ''I don't give a damn about credit"... that results in lots of awesome deals like settling for a penny on the dollar!