Stop paying credit cards. Give yourself a bailout!!

maxpi · May 17, 2010

I defaulted 4 years ago, paid almost nobody anything. My rating is now above average at 595 or something like that and give it more time and all the stuff won't show or won't be counted, I don't know how they work that... just some info for people that might need it. Had I not moved I might have gotten served papers though...

Start early, use a commercial po box for mail. They are not going to hang around waiting to serve you if you check your mail at random times about every other week... find out what your rights are in your state and make the collections people adhere to it. Record all the calls and the numbers they come from, don't accept any calls with blocked numbers.. all collectors break all the laws, get an attorney and clean them out... it's just business...

Tom B · May 17, 2010

Quote from maxpi:

I defaulted 4 years ago, paid almost nobody anything. My rating is now above average at 595 or something like that and give it more time and all the stuff won't show or won't be counted,

The national average credit score is approximately 680.

MattF · May 18, 2010

Quote from risktaker:

Hahaha!! LOL!

Try telling your next potential employer that you don't have an expensive college education/degree but gathered all the same knowledge & more studying everything on the internet.

You'll be laughed out of the interview with the door slammed on your ass. What the hell are you even talking about?

who said anything about an employer?

jueco2005 · May 18, 2010

Quote from maxpi:

I defaulted 4 years ago, paid almost nobody anything. My rating is now above average at 595 or something like that and give it more time and all the stuff won't show or won't be counted, I don't know how they work that... just some info for people that might need it. Had I not moved I might have gotten served papers though...

Start early, use a commercial po box for mail. They are not going to hang around waiting to serve you if you check your mail at random times about every other week... find out what your rights are in your state and make the collections people adhere to it. Record all the calls and the numbers they come from, don't accept any calls with blocked numbers.. all collectors break all the laws, get an attorney and clean them out... it's just business...

I defaulted 1 year ago. So far no problems...........just lots and lots of phone calls even on SUNDAY!!!!!!!!!!! :mad:

jueco2005 · Oct 11, 2010

It will soon be 2 years since I made the decision to stop paying my credit cards.

It has proven to be a great cash flow investment. I canât think of any negative consequences that would exceed the benefits.

I believe 8 out 10 Americans have financial problems either job related or debt related.

I wait for comments.

Scataphagos · Oct 11, 2010

Quote from jueco2005:

It will soon be 2 years since I made the decision to stop paying my credit cards.
I wait for comments.

You stole and you're proud of yourself?

AK100 · Oct 11, 2010

Quote from Scataphagos:

You stole and you're proud of yourself?

Well, the banks are PURE SCUMBAGS and play dirty so if that's the way they want the rules of the game to be played that gives somewhat of a licence for their opponents.

Scataphagos · Oct 11, 2010

Quote from AK100:

Well, the banks are PURE SCUMBAGS and play dirty so if that's the way they want the rules of the game to be played that gives somewhat of a licence for their opponents.

There are right and wrong ways to deal with things. That you can rationalize a wrong way and be comfortable with it... doesn't make it right.

Lots of people default currently.... mostly because consequences are minor. "Way back when" there was debtors prison, defaulting had severe consequences and people behaved differently.

Then... now.... still wrong.

(I still regret stealing a Fudgsickle from the Quick-E Mart when I was 10, but that's just me.)

Vinny1 · Oct 11, 2010

Quote from jueco2005:

I defaulted 1 year ago. So far no problems...........just lots and lots of phone calls even on SUNDAY!!!!!!!!!!!

Get Magic Jack for your phone service for unlimited calls to the U.S. and Canada for $20 per year. If your computer is off or your internet or power is down, calls go to voicemail, and you then get an email immediately and can listen to the voicemail in Realplayer. They also offer cheap international rates...

http://www.magicjack.com/6/index.asp

I don't think debt collectors would be able to find your phone number if you use Magic Jack, since the number is not listed in the phone book.

jueco2005 · Oct 11, 2010

Quote from Scataphagos:

There are right and wrong ways to deal with things. That you can rationalize a wrong way and be comfortable with it... doesn't make it right.

Lots of people default currently.... mostly because consequences are minor. "Way back when" there was debtors prison, defaulting had severe consequences and people behaved differently.

Then... now.... still wrong.

(I still regret stealing a Fudgsickle from the Quick-E Mart when I was 10, but that's just me.)

I only debate right & wrong, black & white with my self, I and God. But because you took your time to write me I will return the favor.

If standing up for myself makes me a thief, so be it. And yes I am proud of myself. I have a MBA and currently working on my MSA. Great future lies ahead.

And yes, I do encourage people to do the same for themselves.