Credit card companies and banks amaze me...

I decided to stop paying them last month. They now call two-three times per day. The funny thing is that it's never a person, it's always and automated recording that either says, please wait for a representative or the really funny ones ask me to call back to a different number.
I might make minute payments to all of them next week, like $5 per just to see what they think of that.

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Grant Hughes

You decided to self destruct?

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Robert.

"You are way too normal to be on Rally Anarchy." Eddie Fiorelli.

It's my own stimulus plan. Stop paying bills, start having fun. We all win. Even the lawyer's going to make a little cash.
Speaking of which, the lawyer said they're filing about ten bankruptcy cases per day. At around $600 in fees per case I'd say that they're the real winners.

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Grant Hughes

I stopped paying all but one of mine years ago. But then, I stopped charging on all but one of mine years ago.

You should also ask to settle your cc debt. I have read articles that the banks are taking huge loses like less than half your balance to get the account closed. Could be worth a try. Tell them you will pay $10 and you call it even.

If you pay them, it only encourages them to send you more bills.

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John Vanlandingham
Sleezattle, WA, USA

Vive le Prole-le-ralliat

www.rallyrace.net/jvab
CALL +1 206 431-9696
Remember! Pacific Standard Time
is 3 hours behind Eastern Standard Time.

Sell your car for $5k and apply that to your bills.

john vanlandingham Wrote:
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> If you pay them, it only encourages them to send
> you more bills.
>
> John Vanlandingham
> Sleezattle, WA, USA
>
> Vive le Prole-le-ralliat
>
> www.jvab.f4.ca


Unless you pay the whole bill, then they not sent anymore bills.

heymagic Wrote:
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> Sell your car for $5k and apply that to your
> bills.

Or file bankruptcy, keep my car, and wipe out way more than that amount.

Seven years of having to live cash only will be good for me and I'll end up in way better shape in the long run. Maybe even be able to purchase a house or a vehicle before I'm forty.

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Grant Hughes

Maybe the rules are different from here, but how can you keep your car while filling bankruptcy? Don't you have to buy it back from the creditors?

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Francois

In Colorado we can keep up to $5k worth of vehicle equity.
As Gene just stated, that's pretty much what my car is worth, if even that.

It's also just about the only thing of value I even own. Well, I suppose laptop and videocamera too.

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Grant Hughes

NoCoast Wrote:
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> In Colorado we can keep up to $5k worth of vehicle equity.


I bought a brand new BMW 2002 in 1973 for $5,300 cash.

I moved from Connecticut to Denver with my 2002 a few months later.
Why? I dunno.

I sold it back to the dealer for about $4,500 six months later. I liked it the 2002, but I liked 911's better.

Porsche - there is no substitute.


BTW: why are you bailing on your credit rating? Lost your job?

Credit ratings are more over-rated lawyer driven crap.

Lawyers are lower than pond scum.





Edited 1 time(s). Last edit at 09/02/2009 04:53PM by Jens.

Jens Wrote:
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> BTW: why are you bailing on your credit rating?
> Lost your job?
>
> Credit ratings are more over-rated lawyer driven
> crap.
>
> Lawyers are lower than pond scum.

No. It's all about the numbers. Projecting out even out three to five years I will be in way better financial shape than I currently am. Unemployment was created to give people a chance to start over, and I'm taking that opportunity now when I'm still young enough to really take advantage of it. Between wanting to start my own business, move someday, maybe buy a house and maybe even some acreage, have a car that cost more than $1000 to buy, etc.
That and once my student loans go into repayment in 6-9 months I literally wouldn't make enough money to make the payments on everything. I also owe about $10K in taxes to the IRS. A large portion of my revolving debt has existed since 2001-2002 and just never seems to really disappear.
I think learning to live on only cash will be a good thing.

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Grant Hughes

The student loans are the killer, worse than IRS debt. The loans don't go away with bankruptcy. Only way to escape those is to either skip the country for good or die.

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Andrew Steere
Lyndeborough, NH
KB1PJY

Or work for the government and make 120 payments on time and not be in default and they will forgive them. Guess who I work for.

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Grant Hughes