I have a $6000 past due balance on a credit card. Has anyone not paid one off? What happened?
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It’s an unsecured debt so other than call and harass you that’s about it. It will hit your credit score but not as much as you might think.
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They will compound interest until they charge it off. Then it goes to collections and totally screws your credit up. After 7 years it’ll go away, but they won’t stop hounding you afterward. I had a buddy who went through some hard times and did this over 3k in credit card debt.
My suggestion is if you spent it, do the right thing and pay it off. If you call them you can make arrangements usually. Don’t just bail on your bill.Comment
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You borrowed the money and agreed to pay it back. You should pay it back.Comment
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Hopefully they would arrest peeps that don't pay their cc.... But I am just wishful thinking...Comment
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Put it in the rear view mirror and don’t worry about it. Probably best to just get another credit card and keep cruising. Actually might wanna load up on a few while you still can...Comment
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I shouldn't worry about a judgement?
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Call the cc company and see if they can cut your interest and fees down first. You need to sell everything you have to sell, and work a second job to pay it off. Read the total money makeover book by Dave Ramsey.
Good luck.Comment
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You’ll get judgment here for sure. From the court, I doubt it, but you never know.Originally posted by esoct25 View PostComment
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If warren wins, maybe she’ll (we) pay it for youComment
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Many companies will sue on the debt. If they get a judgment, then they will let the interest compound and file an Abstract of Judgment in the real property records, which is essentially a lien.Comment
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Unless your family can’t eat or get proper medical care AND you have sold all your toys and expensive vehicles then I don’t know why you would even consider this option. Get rid of these predatory interest rates as soon as you can and you’ll be much better off for it.
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Probably not what you were looking for, but.....stepping up on my soapbox:
How about you just act like a real man and pay the debt, that you willingly took on all by yourself, instead of looking to pass the buck onto others?
My dad taught me at an early age, "a man's only as good as his word", and that's still just as true today, as it was back then.
Carry on...….Comment
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all said, even after the 7 years , they can resale the depth and the new company can and will put it back on the credit reports..
I got an owners association wanting money from a property I lost\sold 25 years ago... threatening to report a never ending cycle
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