If you just stop paying your credit card

[heavy_duty]

what happens?
(1) they call you every day
(2) credit rating goes to R9
(3) collection agency starts to call you evrry day

what else?
do they sue? or just go away?

 

[javaguru]

They would call you everyday until they sell your debt to a collection agency and they will call you everyday.

 

[PICK3]

They would call you everyday until they sell your debt to a collection agency and they will call you everyday.

Unless you send a "cease & desist" registered letter.

 

[javaguru]

Unless you send a "cease & desist" registered letter.

Awesome! I'll stop paying all my bills tomorrow...

 

[PICK3]

Awesome! I'll stop paying all my bills tomorrow...

They'll still garnish your wages and attach your assets ... they just won't call you anymore

 

[javaguru]

They'll still garnish your wages and attach your assets ... they just won't call you anymore

I'm self-employed....

 

[PICK3]

I'm self-employed....

You still claim an income.

 

[javaguru]

You still claim an income.

A very small income...

 

[PICK3]

A very small income...

fuck over the credit card companies and it will be 25% smaller

 

[heavy_duty]

I heard they eventually give up if under 10 grand.

 

[javaguru]

fuck over the credit card companies and it will be 25% smaller

I fucked over Mastercard because when I went to prison I set up my parents with a power of attorney and a substantial amount of money to pay all my bills. The statements weren't forwarded and my $800.00 balance became a $5,000.00 balance in 14 months due to interest,late charges and fees. I told them to fuck themselves, I have never been sued and the collection calls stopped last year; they're offering me a new credit card...

 

[PICK3]

I heard they eventually give up if under 10 grand.

The Statue of Limitation for legal remedies to collect unsecure debt in the states ranges from 3 to 10 years.

http://www.fair-debt-collection.com/SOL-by-State.html#47

 

[PICK3]

I fucked over Mastercard because when I went to prison I set up my parents with a power of attorney and a substantial amount of money to pay all my bills. The statements weren't forwarded and my $800.00 balance became a $5,000.00 balance in 14 months due to interest,late charges and fees. I told them to fuck themselves, I have never been sued and the collection calls stopped last year; they're offering me a new credit card...

If you're chronically unemployed, don't own real property, or heading to prison the CC/collection companies may feel it's knot worthy of pursuing you.

If you're substantially employed or own property and you fuck them out of $5k, expect to be served, then a summary judgment with SOL of up to 10 years or more.

 

[PICK3]

If a debt has already been turned over to collections there is absolutely nothing you can gain by dealing with a collection agency.

If you acknowledge the debt it's possible you can re-age it and start the SOL clock over again.

 

[chazk]

I fucked over Mastercard because when I went to prison I set up my parents with a power of attorney and a substantial amount of money to pay all my bills. The statements weren't forwarded and my $800.00 balance became a $5,000.00 balance in 14 months due to interest,late charges and fees. I told them to fuck themselves, I have never been sued and the collection calls stopped last year; they're offering me a new credit card...

read it close that new credit card is a debt . as soon as you agree to the card you're new account will have the 5k balance on it from the past debt.
It is the CCC companies way or extending you're debt

 

[javaguru]

If you're chronically unemployed, don't own real property, or heading to prison the CC/collection companies may feel it's knot worthy of pursuing you.

If you're substantially employed or own property and you fuck them out of $5k, expect to be served, then a summary judgment with SOL of up to 10 years or more.

I make a substantial income, I didn't qualify for the stimulus package by about 3k and I need to cheat more, I rent..... I'm smart...

 

[PICK3]

I may know something about collection laws and practices, because I may have become over-extended and fucked up my credit when I was younger.

just sayin'

 

[javaguru]

read it close that new credit card is a debt . as soon as you agree to the card you're new account will have the 5k balance on it from the past debt.
It is the CCC companies way or extending you're debt

Nope, pre-approved noob bullshit....I was trained as an attorney..I know to skip to the fine print.

 

[Razorguns]

what happens?
(1) they call you every day
(2) credit rating goes to R9
(3) collection agency starts to call you evrry day

what else?
do they sue? or just go away?

they'll call unless u change your #.

if they call - just say due to unforeseen challenging market conditions - you just can't pay. pretend you're a bank.

credit rating goes away - but if u don't care about obtaining debt - it has no power over you.

they never sue. tho they'll use every tactic int he book to pretend they'll sue. Eventually they'll just sell off the debt to some losers in bumfuck, nowhere - who'll try even more tactics.

r

 

[PICK3]

they'll call unless u change your #.

if they call - just say due to unforeseen challenging market conditions - you just can't pay. pretend you're a bank.

credit rating goes away - but if u don't care about obtaining debt - it has no power over you.

they never sue. tho they'll use every tactic int he book to pretend they'll sue. Eventually they'll just sell off the debt to some losers in bumfuck, nowhere - who'll try even more tactics.

r

1 registered "cease & desist" letter will stop ALL calls.

 

[chazk]

Nope, pre-approved noob bullshit....I was trained as an attorney..I know to skip to the fine print.

I was a collections agent a few years back. We would send out preapproved cards to the people, even when the debt was 7 yrs or older. As soon as they made the first charge it reopened the old account. The new account number was the old number in the computer system.

the fine print only says " the opening of this account could reactivate any unpaid credit accounts "
sneaky shit they were and still are doing.

As far as someone mentioned the effects of not paying first 60 days not much jusr calles from the CCC Then the collectors get the account. Yes you will be called on any phone number they have for you. If they call 3 times you may ask them not to call anymore. then they send the account to the guy in the next cubical that works for the same collections firm but under a diff name then he will call over and over.
letters sent to any adress they have on file. Letters even "accidently" sent to parent or close relative bill collectors hope a mom or relative might make a payment for you.Many times it works
If it goes really far court filing for income withholdings.
One guys was slick he thought he was getting back 4,000 on his tax return the check came right to us then we took the other 15k from his IRA all legally done by the courts . The guy had certified letters mailed to his house but never came to court. He thought if he did not show we could do nothing. Proved him wrong.
So yes big debts they will go after, small debts get kicked around then charged off.
They ccc will keep sending it in to you're credit file for uncollected debt. when the date is past 7yrs and it should fall off they resubmit it anyways with " no date on file "
listed on the credit report account.
But here is the new thing many people do not know about . If you get a letter saying that a CCC is writting off or charging off 3,000$ and writting down a loss on the books . YOU are required to declare it as income and pay taxes on the $3,000 . Many people do not know this and are having whole income tax returns checks being with held by the IRS.

 

[PICK3]

I was a collections agent a few years back. We would send out preapproved cards to the people, even when the debt was 7 yrs or older. As soon as they made the first charge it reopened the old account. The new account number was the old number in the computer system.

the fine print only says " the opening of this account could reactivate any unpaid credit accounts "
sneaky shit they were and still are doing.

As far as someone mentioned the effects of not paying first 60 days not much jusr calles from the CCC Then the collectors get the account. Yes you will be called on any phone number they have for you. If they call 3 times you may ask them not to call anymore. then they send the account to the guy in the next cubical that works for the same collections firm but under a diff name then he will call over and over.
letters sent to any adress they have on file. Letters even "accidently" sent to parent or close relative bill collectors hope a mom or relative might make a payment for you.Many times it works
If it goes really far court filing for income withholdings.
One guys was slick he thought he was getting back 4,000 on his tax return the check came right to us then we took the other 15k from his IRA all legally done by the courts . The guy had certified letters mailed to his house but never came to court. He thought if he did not show we could do nothing. Proved him wrong.
So yes big debts they will go after, small debts get kicked around then charged off.
They ccc will keep sending it in to you're credit file for uncollected debt. when the date is past 7yrs and it should fall off they resubmit it anyways with " no date on file "
listed on the credit report account.
But here is the new thing many people do not know about . If you get a letter saying that a CCC is writting off or charging off 3,000$ and writting down a loss on the books . YOU are required to declare it as income and pay taxes on the $3,000 . Many people do not know this and are having whole income tax returns checks being with held by the IRS.

In Louisiana unsecure CC debit has a SOL of 36 months ... after that there's no legal recourse.

 

[javaguru]

I was a collections agent a few years back. We would send out preapproved cards to the people, even when the debt was 7 yrs or older. As soon as they made the first charge it reopened the old account. The new account number was the old number in the computer system.

the fine print only says " the opening of this account could reactivate any unpaid credit accounts "
sneaky shit they were and still are doing.

As far as someone mentioned the effects of not paying first 60 days not much jusr calles from the CCC Then the collectors get the account. Yes you will be called on any phone number they have for you. If they call 3 times you may ask them not to call anymore. then they send the account to the guy in the next cubical that works for the same collections firm but under a diff name then he will call over and over.
letters sent to any adress they have on file. Letters even "accidently" sent to parent or close relative bill collectors hope a mom or relative might make a payment for you.Many times it works
If it goes really far court filing for income withholdings.
One guys was slick he thought he was getting back 4,000 on his tax return the check came right to us then we took the other 15k from his IRA all legally done by the courts . The guy had certified letters mailed to his house but never came to court. He thought if he did not show we could do nothing. Proved him wrong.
So yes big debts they will go after, small debts get kicked around then charged off.
They ccc will keep sending it in to you're credit file for uncollected debt. when the date is past 7yrs and it should fall off they resubmit it anyways with " no date on file "
listed on the credit report account.
But here is the new thing many people do not know about . If you get a letter saying that a CCC is writting off or charging off 3,000$ and writting down a loss on the books . YOU are required to declare it as income and pay taxes on the $3,000 . Many people do not know this and are having whole income tax returns checks being with held by the IRS.

At the end of the day I'm free of them....never fooled back into credit debt. I never had to give them a penny or the government cronies....I guess that I'm just smarter...

 

[chazk]

At the end of the day I'm free of them....never fooled back into credit debt. I never had to give them a penny or the government cronies....I guess that I'm just smarter...

Smart for not getting back into debt is a good thing.

 

[chazk]

In Louisiana unsecure CC debit has a SOL of 36 months ... after that there's no legal recourse.

Each state is different .Some states have different limits on medical bill collections. Usecured lines of credit,then phone bill accounts and electric accounts.

 

[RearNaked]

I heard they eventually give up if under 10 grand.

Ya bro. In Canada I think it's 5 years. They will harass the shit out of you, but after a certain period of time (SOL) you're gtg. I work with a guy who lived with his mom, decided not to pay his cc, got his own residence, then I think they kept calling his moms place for like 3 or 5 years and finally quit. I will be working with that fucker again early next week. I can ask him then. There's also gotta be a way you can check that shit online like one of these good bros just posted in this thread, just for Canadian info instead.

 

[Razorguns]

If you desire debt - and want to buy shit with other peoples money - then pay your bills.

I owe nobody any money. I rawk.

r

 

[chris350]

about 7 months ago I paid off a credit card debt to a collection agency...I was wondering what would be the best way to get my credit rating back up

 

[puddlemonkey]

If you desire debt - and want to buy shit with other peoples money - then pay your bills.

I owe nobody any money. I rawk.

r

My first credit card is due in the mail this week. I'm so excited!!! I can start my on-line shopping again! I was using the debit but that info got stolen and used

 

[Pat_McCrotch]

They'll still garnish your wages and attach your assets ... they just won't call you anymore

Not al states bro. They cant do it in TEXAS.



Also thy will sell the debt to smeone else and so on and so on. Every collection agency will report on your report making it seem as if you have seveal collections.

Alot of collection agencies ar nasty. They will re-age your debt. I hate collection agencies.

 

[ponyfitness]

I tanked my CC rating a long time ago with of all things a Zellers card I didn't pay. Registered as an R9 on my rating and dumped my credit for 7 years which was a total pain in the ass when I wanted to buy a car, qualify for a mortgage, etc - had to get cosigners for everything. Now it's gone and I'm fine but I learned to pay my accounts regularly.

However, I did have a small student loan I defaulted on 12 years ago I still get calls/letters about occasionally. Never showed up on my credit and whenever they call I just tell them I never acknowledge the debt and they have the wrong person and they can't do anything. Even after 12 years - I just laugh at them now.

 

[Razorguns]

My first credit card is due in the mail this week. I'm so excited!!! I can start my on-line shopping again! I was using the debit but that info got stolen and used

i have a $500 cc i use for online purchases. mainly for security. i tho pay it right off every month.

until public schools get off their ass and state telling kids to memorize the capital of vermont, but instead say no to debt --- this cycle will continue. More so during recessionary times.

My expenses per month is $1000.

r

 

[Pat_McCrotch]

If a debt has already been turned over to collections there is absolutely nothing you can gain by dealing with a collection agency.

If you acknowledge the debt it's possible you can re-age it and start the SOL clock over again.

Yea but as you know reaging is illegal. They will try and say well the debotr made a payment so the clock start all over again. this is bad bad bad

 

[Pat_McCrotch]

they'll call unless u change your #.

if they call - just say due to unforeseen challenging market conditions - you just can't pay. pretend you're a bank.

credit rating goes away - but if u don't care about obtaining debt - it has no power over you.

they never sue. tho they'll use every tactic int he book to pretend they'll sue. Eventually they'll just sell off the debt to some losers in bumfuck, nowhere - who'll try even more tactics.

r

Once again call bullshit on your E-perona of being very very well off. Yu have no clue what your talkng about. They never sue????? Go to creditboards.com and see the horror stories of NCO, Midland and many others suing these people over 2-3k worth of cc debt.

They cannot threaten to sue you unless they are gunna follow through with. This isin the FDCPA. They will threaten ya unless you flex some muscle and show you know your rights.

And also NEVER EVER deal with them on the phone. Alwyas through Certified registered return mail

 

[Pat_McCrotch]

In Louisiana unsecure CC debit has a SOL of 36 months ... after that there's no legal recourse.

In texas its 4 years. You from La pick? if so which part. Karma messge me

 

[Pat_McCrotch]

i have a $500 cc i use for online purchases. mainly for security. i tho pay it right off every month.

until public schools get off their ass and state telling kids to memorize the capital of vermont, but instead say no to debt --- this cycle will continue. More so during recessionary times.

My expenses per month is $1000.

r

Why is it the schools responsibilty to educate kids on finances when their parents are doing the opposite

 

[gjohnson5]

Well , they'll destroy your credit , which will make it hard to even rent an apartment.
everything from getting directv will become more expensive. The APR on your existing loans will increase including your other credit cards. Buying a car will get you finance rates of like 25%. Then the legal notices from civil court will start coming to your house to make a judgement against you.

Anything else I forgot???

 

[gjohnson5]

I thought that was against the fair credit reporting act?

Alot of collection agencies ar nasty. They will re-age your debt. I hate collection agencies.

 

[PICK3]

In texas its 4 years. You from La pick? if so which part. Karma messge me

You could be right.

http://www.fair-debt-collection.com/SOL-by-State.html#47

The important part is knot to re-age the debt.

 

[heavy_duty]

I tanked my CC rating a long time ago with of all things a Zellers card I didn't pay. Registered as an R9 on my rating and dumped my credit for 7 years which was a total pain in the ass when I wanted to buy a car, qualify for a mortgage, etc - had to get cosigners for everything. Now it's gone and I'm fine but I learned to pay my accounts regularly.

However, I did have a small student loan I defaulted on 12 years ago I still get calls/letters about occasionally. Never showed up on my credit and whenever they call I just tell them I never acknowledge the debt and they have the wrong person and they can't do anything. Even after 12 years - I just laugh at them now.

So the idea is, get everything you need and want and then fuck the credit card companies. Get a car that's going to last you about 10 years. Take good care of that car

 

[PICK3]

Yea but as you know reaging is illegal. They will try and say well the debotr made a payment so the clock start all over again. this is bad bad bad

I know dumbasses that mailed in money at 30 months into a 36 month SOL.

Restarted the clock.

 

[superqt4u2nv]

I tanked my CC rating a long time ago with of all things a Zellers card I didn't pay. Registered as an R9 on my rating and dumped my credit for 7 years which was a total pain in the ass when I wanted to buy a car, qualify for a mortgage, etc - had to get cosigners for everything. Now it's gone and I'm fine but I learned to pay my accounts regularly.

However, I did have a small student loan I defaulted on 12 years ago I still get calls/letters about occasionally. Never showed up on my credit and whenever they call I just tell them I never acknowledge the debt and they have the wrong person and they can't do anything. Even after 12 years - I just laugh at them now.

To be honest I fucked my credit when I was 19-20 as well now I am almost 29 and still have issues getting credit cards loans or lines of credit. It sucks considering the amount of money I make now I can easily pay my bills etc. If I could get a line of credit I would have probably had my boobs done by now. LOL I likely will have to get a co-signer as well to rebuild my credit. I want to ask my Mom but then it gives her licsence to nosey about my spending habits etc.

 

[heavy_duty]

Satan invented the credit card

 

[lil_brah]

To be honest I fucked my credit when I was 19-20 as well now I am almost 29 and still have issues getting credit cards loans or lines of credit. It sucks considering the amount of money I make now I can easily pay my bills etc. If I could get a line of credit I would have probably had my boobs done by now. LOL I likely will have to get a co-signer as well to rebuild my credit. I want to ask my Mom but then it gives her licsence to nosey about my spending habits etc.

There is a very detailed way to fuck the CC company--let your rating go to R9 all the way around and then repair it over a 36 month period but you have to pay back 50% of what you owe that is not secure. Ontario only though I can not speak for other states.

Your Equifax should not be fucked for 9 years. You have to write to them so they make notes on your report.