Stop paying credit cards. Give yourself a bailout!!

Quote from Banjo:

Tax Dodgers Multiply as ‘Underground Economy’ Cushions Job Cuts

http://www.bloomberg.com/apps/news?pid=20601213&sid=aCuiJAVv6ZOc&refer=home
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the easiest way to shut down the black market is via incentives:

1) Give whistle blowers a large % of any tax / SSI collected from reporting this

2) If you run a black market business or are employed and are a tax evader, then the Fed govt pulls your citizenship and puts you on a regular ferry that dumps you onto a barren polar island. You can duke it out with other scofflaws to get your share of the lichens that grow on the rocks...

3) Since polar bears are struggling with global warming, 500 of them are released on this evader's island. Polar bears now have plenty to eat.

Not really hard to fix...
 
I have about 8 credit cards and only one of which that I use carries a small balance that I am working to pay off monthly.

the other 7 have zero balance.

Of the 7, 5 of them I never use, and 2 of them I pay off at month's end.

I just keep the 5 cards as 'just in case' cards.

Is there anything wrong with this?
 
Quote from Trader666:

You should... but after your automated system fails, your parents kick you out of their basement and you end up living somewhere like this, you will for sure.
http://www.elitetrader.com/vb/showthread.php?s=&threadid=158730
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Oh, the fear of homelessness is upon me !! OMG, where's the number for those meth heads that used to call me all the time !!

I can tell you from experience that nothing happens when you don't have credit !! Just nothing. I defaulted in the recession of the mid 70's... nothing changed, I got jobs, I had more pocket money because I had no bills at all.... I got married, raised children, bought a house even, eventually. The happiest times in my life were when I had no credit whatsoever... there's another myth, that you need credit to buy a house... not so, what you need is no bad credit history, if you have a down payment and no credit history, you can get a mortgage... it's secured, and you put down some money, they assume you will be motivated...

When I defaulted this last time I already could not get a checking account. I complained publicly, via the web, about a bank I was using and they changed a digit or two in my SSI number and reported me to some frigging agency or some shit that I don't understand.... and after that, I can't open an account with a bank !! And legally, no banker is allowed to tell me about it !! So I said, f%$k banks and their shitty little credit cards too... guess what, opening a trading account is not a problem, I can't open a bank account but I can open a trading account....

Here's a little kicker for 'ya... if you are a successful trader and you can get a system up on C2 you can make money trading with no frigging account of any kind !! They send you checks, you have a friend put them through his account, buy him a drink and laugh all the way to the ... well, you get the idea...
 
Quote from ElCubano:

one thing is not being able to pay and another is not paying cuz you dont give a fuck....anyways for $12k he is most definitely selling himself short...Using Donald Trump as an example is not good considering he fucked them 100 of millions of $$$$'s ....maybe OP should take a lesson from the master himself. In the end again I dont know the OP's age but $12k is not worth it if he intends to eventaully at least pay half as per his posts....so basically he is going to shoot his load for $6k..
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Trumps timing was impeccable..........just before the new bankruptcy laws took place in `06..........no coincidence there on his timing.
 
Trump does BK once per business cycle..

Another credit card myth: "you can't rent a car without a card"... horseshit, they want the card to cover their deductible on the insurance, you can give them that in cash...

I'm trying to think of something that you can't do without a credit card and coming up empty handed here...
 
From your post it sounds like you're a long term serial deadbeat. Correct?

I think you're putting a happy face on a cow pie. At your age who'd want to be dependent on others for something as basic as cashing a check?

<img src=http://www.elitetrader.com/vb/attachment.php?s=&postid=2365921>
Quote from Fractals 'R Us:

I can tell you from experience that nothing happens when you don't have credit !! Just nothing. I defaulted in the recession of the mid 70's... nothing changed, I got jobs, I had more pocket money because I had no bills at all.... I got married, raised children, bought a house even, eventually. The happiest times in my life were when I had no credit whatsoever... there's another myth, that you need credit to buy a house... not so, what you need is no bad credit history, if you have a down payment and no credit history, you can get a mortgage... it's secured, and you put down some money, they assume you will be motivated...

When I defaulted this last time I already could not get a checking account. I complained publicly, via the web, about a bank I was using and they changed a digit or two in my SSI number and reported me to some frigging agency or some shit that I don't understand.... and after that, I can't open an account with a bank !! And legally, no banker is allowed to tell me about it !! So I said, f%$k banks and their shitty little credit cards too... guess what, opening a trading account is not a problem, I can't open a bank account but I can open a trading account....

Here's a little kicker for 'ya... if you are a successful trader and you can get a system up on C2 you can make money trading with no frigging account of any kind !! They send you checks, you have a friend put them through his account, buy him a drink and laugh all the way to the ... well, you get the idea...
More...
 

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Sorry, i can't help liking Spanish,I'd def have a drink with him,takes guts to go out on a limb.Wish you guys would stop using the word loser,it's a question of morals.The rich routinely avoid paying their fair share legally or illegally-morals.The fact is ordinary people get into financial difficulty due to many reasons.The financial industry has always treated us like suckers- 3 days for a cheque to clear wtf? £30 to write a letter to say you were overdrawn for 5 minutes once in ten years? ( i closed one account over this and now in the UK these charges have been tested in court and found to be illegal) I can understand why people want screw the bank. BTW, i notice that prisons tend to be filled with mostly working class people. And finally when i make ANY kind of decision in this world based on anything,the last thing i give a toss about is what others may think- pay my bills or stfu- or we could take a look at your life and see if we can find a few things we might not approve of ok? As i said it is morals,nothing to do with winning or losing.And sometimes it's about pure survival. For the record my credit used to be terrible but i completely turned it around.However,if the need arises in the future to screw the banks or anyone else for that matter,i won't hesitate and your opinion will be irrelevant.I see that as winning not losing geddit?
 
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