Stop paying credit cards. Give yourself a bailout!!
- Thread starter jueco2005
- Start date
I know someone who just stiffed Target for about $12K. She was surprised when her other card holders froze her accounts and her credit scores plunged. She has no savings and now is really living on the edge because if she loses her job she has nothing to fall back on and would have a more difficult time finding a new one because employers check scores.
Quote from 377OHMS:
You just don't understand. When the CC company raised to 29.99% you could have simply refused the new rate. They would have taken your card and required you to pay down the debt at your old rate. They cannot make you pay a new rate, they can only stipulate that further credit advanced to you will occur at the new rate. So you cut the card up and pay the debt down at the old rate. What you've done is silly and ignorant.
My comment about ruining your life is just that, the ruination of the potential of your life over some paltry sum.
Most men would not accept the idea that they would be supported by women or have women cover for their chaotic finances. Most men demand an independent means and feel more comfortable fulfilling their obligations than avoiding them.
The car rental comment was serious. I guess you're not exactly vacationing in the caribbean etc and so have no use for rented cars?
Do you ever have your vehicles serviced? Do you just wait there or do you make wifey-poo come pick you up? Most people rent a car. Perhaps you take the bus?
Dude you are paying. You are paying 14% on a vehicle loan that most people pay 1% or 2% for these days. You are always going to pay a premium for access to credit. Your student loan is not some liquid line-of-credit. Its just a huge lump that you have to pay down or else.
You've actually trapped yourself. Better be extra nice to your wife or you could be making panini for a living and renting by-the-week.
You are better informed than I thought.
I donât take vacations in the Caribbean, I was born there. I instead go to Europe where I pay for a bus to take me to places and I meet nice people on the way.
I donât think that is the way CC work. What scared me was not 29.99%, It was the fact that monthly payments when from 250 to 600 in just 2 months. But wait that is irrelevant to me now. Even if you are 100% right.
By the way dude. Life is not about credit. Is about what you do. I do not need nor I do not want credit ever in my life. At the present time I have just the debt I must. I owe a car which I have to pay to get me to work where I make a decent income. I also use that same car to take me to university where I get my MSA and MBA to get an even better future income.
So as you can see my current debt is investment oriented. And I love it because I make sure I pay every damn month.
Oh by the way for those of you who think I hide. Please go to facebook and search for Julio Suarez living in Miami. You will find a beautiful pic of me and my beautiful wife.
Yeah, I borrowed when I was a senior in engineering school and used the funds to buy a 1970 914-6 GT that ran in LeMans. Still have it. I fire it up once in awhile but sometimes get complaints because it is so damned loud.
Hey, taking advantage of cheap money I understand. Walking away I don't understand.
I'm not saying you have to be a saint. I'm saying you can do better by gaming the system and using the banks to get what you want in life, material-wise. Use your cubano cleverness to play the bastards and kick it.
Quote from 377OHMS:
Yeah, I borrowed when I was a senior in engineering school and used the funds to buy a 1970 914-6 GT that ran in LeMans. Still have it. I fire it up once in awhile but sometimes get complaints because it is so damned loud.
Hey, taking advantage of cheap money I understand. Walking away I don't understand.
I'm not saying you have to be a saint. I'm saying you can do better by gaming the system and using the banks to get what you want in life, material-wise. Use your cubano cleverness to play the bastards and kick it.
Thank you. As I said before. Its been 3 yrs since this happned. I think they have 4 more to do anything in court. My lawyer told me only to worry if I get a court letter. And if that happens there are plentty of ways to deal with system AS YOU WELL SAID. Right now they pay more attention to bigger debts, mine is not so big.
I know people who did not do anything and after 7 years they get CC offers and credit scores increases dramatically.
Time will tell my friend. So far, I am content with my decision.