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03-03-2009, 11:38 PM | #26 |
Avalon Senior Member
Join Date: Sep 2008
Location: Albuquerque, NM
Posts: 11
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Re: What will happen if I quit paying my credit cards?
I'd be interested in receiving this PDF file that you speak of...
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03-04-2009, 12:09 AM | #27 | |
Avalon Senior Member
Join Date: Nov 2008
Location: Glen Ellen Ca
Posts: 611
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Re: What will happen if I quit paying my credit cards?
Quote:
Originally Posted by eXchanger hmmm....i've often found, when, i have been reluctant to reading things, it is eXactly what it is, that, i need to read remember, whatever it is, that floats the boat, can also sink it !!! i was merely spending my energy, to try to assist you, next time, i will utilise that energy for something else Quote:
Last edited by dagon; 03-04-2009 at 12:35 AM. |
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03-04-2009, 01:43 AM | #28 |
Avalon Senior Member
Join Date: Sep 2008
Location: www.altimatrix.com
Posts: 1,525
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Re: What will happen if I quit paying my credit cards?
There is a statute of limitations on unsecured debt. The time varies from 4 years to 6 years depending on the state you live in. As long as during that time you never admit to a debt collector that you have the debt, after the time has elapsed you can write the collection agencies with telling them to erase the debt from your record, then you also write the credit rating agencies telling them the same thing. If they try to call collecting the debt after the credit rating agencies have erased the debt from your credit report, you can tell them that it is passed the statute of limitations for collection and they will have nothing on you.
I got this information from the debt cures book that is sold on infomercials on television. |
03-04-2009, 01:58 AM | #29 |
Avalon Senior Member
Join Date: Sep 2008
Posts: 3,201
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Re: What will happen if I quit paying my credit cards?
I owe $1200 on an old debt and all they do is constantly harass my parents (where I haven't lived for over 7 years!) about it. They do not send me many letters and I am still waiting for a new one as I have a hard time keeping track of things (yikes). I suppose I will stand firm and try to bargain it down to $300-$600 but if they will not work with me, then they will not see a penny.
That is how this debt came about in the first place. The company issuing the card would not work with me to pay it off and therefore, I stopped paying. I have not accumulated any more debt since (with the exception of schooling and medical bills). |
03-06-2009, 08:05 PM | #30 |
Avalon Senior Member
Join Date: Sep 2008
Location: So. Cal. U.S.
Posts: 4,205
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Re: What will happen if I quit paying my credit cards?
Hey franciejones, be very careful here and my advice is to not take anyones advice here!,including my own! 5 minutes ago I just had a cop knocking on my door looking for my old roommate, because he owes on a credit card, so be aware and seek concrete advice!!!!! I just sent you a long pm explaining everything!
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03-06-2009, 10:18 PM | #31 | |
Avalon Senior Member
Join Date: Sep 2008
Location: great northern boreal forest
Posts: 440
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Re: What will happen if I quit paying my credit cards?
Quote:
in post no. 7, in this thread, i offered ms. jones my experience, based on the last week in my credit history. in her post (no. 19), she acknowledges everyone else and thanks them and never mentioned mine. it's obvious that she wishes to be told that nothing will happen if she does not pay. i offered mastercard 35 cents on the dollar and they accepted. perhaps ms.jones should take good advice and talk to the company, or not, and face the consequences |
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03-06-2009, 10:27 PM | #32 | |
Avalon Senior Member
Join Date: Sep 2008
Location: At the doors of perception
Posts: 2,135
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Re: What will happen if I quit paying my credit cards?
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03-06-2009, 11:29 PM | #33 | |
Avalon Senior Member
Join Date: Sep 2008
Location: Ont. CANADA
Posts: 1,043
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Re: What will happen if I quit paying my credit cards?
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