tonalc1
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A write-off just means the credit card company no longer carries your debt. They sell it to a collection company, who will haunt you until the day you die. |
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wizjp
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sure you can. Prepare to pay cash for the next 7-10 years, hope you don't change jobs or houses, and don't need another credit card, don't own any property. |
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Susan of Sto Helit
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Creditors can take you to court to recover the money. They can garnish your paycheck and any checking accounts you might have to receive the money. So they could get a verdict against you and start taking the money from you automatically every month. Most creditors won't go to that extreme though.
You can't walk away from debt without repurcussions. Even if your creditors choose to write off your debt, that will go on your credit score and it's a big huge giant negative that will haunt you for many years to come. You will get turned down for credit in the future, and anyone who gives you credit will charge a huge interest rate. |
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♥ Mary ♥
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You can, but they are going to send it to a bill collector and it will go on your credit. Also, realize that someone is going to come along and say that they could take you to court, but usually places only do that if you owe more then $5,000. It costs them too much to drag you to court. Change your phone number if you decide to do it! |
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just me
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it all comes down to the IRS eventually so no. the world taxes your *** don't ya know! |
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ballet11
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No, I wish that was the case though. |
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SlimMick
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There will always be bad consequences for your credit rating for "walking away" from your debt....Your card companies will at a minimum charge-off the debt, which will damage your credit rating for seven years....So that nice apartment, home or car that you dream of might no longer be available...or if you can get financing, it will be at a very high rate.
Also, if the debt is large enough, the card company might take you to court to get a judgment. If they succeed, you could have your wages garnished. |
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§eeker
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sure you can not pay it...but you cant walk away from it. it will haunt you for the next 10 years or longer. you wont be able to get a house, a car, anymore credit cards. some employers may not want to hire you because of it. wherever you heard that, it IS too good to be true. dont listen to them. |
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Bored_at_work
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You can not pay, but your credit rating will go down the toilet. It will be a very long time until you can get another card or a loan or a mortgage. Not worth the long term effects. Work out a payment schedule you can manage. |
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Name Of The Game
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I honestly hope not, how would you feel loaning someone money who walked away from you? shame shame |
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mr.moviestar
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no you have to |
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sara
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you will not get it away with it. the credit card issuers are going to hire debt collectors that will continously call you EVERY single day and hunt you down. My cousin still has credit card debts like from 8 years ago and she's still paying them off. if you don't solve this issue now the fees will just build up and soon it may be double the amount you used. If you file bankruptycy they;ll probably create some sort of payment plan or they'll sell your property. |
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jj m
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http://www.cacvt.com/node/add/job |
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Gen•X•er (I love zombies!)
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I'm sure you could find a way but why would you want to? You would ruin your credit and your future. |
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Huba
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They sell the debt to credit collection agencies and they hound you to death, garnish your wages, put liens on property, contact your employer about you as a bad risk, and sue you in court.
If you want to live in hell, go ahead. |
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erika_moma
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No actually if you read the book Debt Cures it will show you alot. Each state has their own time frame. But Im in Va and after 3 years credit card companies can not hound you for a cent. |
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Danie
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only if you declare bankruptcy |
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