Credit card companies and banks amaze me...
Posted by NoCoast
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Jon Burke Ultra Moderator Location: San Francisco, CA Join Date: 01/03/2008 Age: Possibly Wise Posts: 1,402 Rally Car: Subaru w/<1000 crashes |
if you can avoid them long enough, they'll eventually write off your debt and close your account. It'll come off your credit report 7 yrs from the time it all started. I know this because...well, it comes of my credit report October 2011
Credit score is the biggest bullshit scam ever. Before I lost my job for 6 months, I had a great credit score. even DURING my unemployment (I was smart enough to get that 'insurance' from the credit card companies about 1 month before the layoffs happened) they kept sending me shit to up my credit, blah, blah, blah. you know what killed my credit score? an overdue balance with a utilities company from when I moved 2 yrs earlier, I guess the last bill was never paid, and I had moved and I don't know if they didn't send other bills or what, but they finally reported it to my credit report (just as I was trying to get a loan) and it killed my score and my loan was rejected. What was the overdue amount? 5 fucking bucks. 5 bucks reported on my credit report and my score went from over 700 to 550 or something like that. it was then I decided to fuck these credit card companies. I originally signed up with a 'we will settle your debt for you' company, and quickly found out you don't need them to do that. Just stop paying your bills, and avoid their calls for at least a year, then it'll go to a collection agency (or maybe earlier) and you can negotiate with them....but don't go for anything less than 50%. And don't forget the juice is still running, so a $10K debit settled 2 yrs later will look something like $18K or so with fees and interest, etc....so negotiate the WHOLE thing down. ALSO, say you settle for $6K....saved $4K off the initial $10K right? no....they will report that $4K to the IRS as income, so you have to pay taxes on that, so be sure to have a way to write that off (like....um, legal fees to settle your credit card debt )
THEN, after about 4 yrs of doing this, everyone stopped calling (I even got a notice to go to court for one account, it looked very official, but it came in the regular mail, not certified or 'served') I just ignored it and never heard from them again. Well, I finally got around to checking my credit score this year. Now its been 5+ years since all this happened. well, I also found out in Cali that there's a 4 yr statue of limitations....after 4 years, they can't legally go after you! (huh? what? how come no one ever tells you this in those 'credit' commercials?) anyway, the accounts that never settled are listed as 'written off, account closed by debtor' with a side note that this info comes off my account October 2011. sure, my credit is shit...but who cares? it was already shit because of a $5 unpaid bill. Because I didn't declare bankruptcy, I still have my 2 main credit cards that I do keep updated, so I still have a bit of credit in my name. AMEX got smart and checked my credit score and subsequently lowered my limit...which was fine. i'm also lucky that my parents have essentially been my 'bank' for the past few years, so if anything big did come up (like my dogs $3500 pet surgery) I could borrow from them and just pay them back. Overall, its saved me tens of thousands, I still have credit, and after 2011, my credit score will quickly go back up. But again, credit score is BS. disclaimer....things may have changed, I know bankruptcy rules have, so your experience may be different from mine. This is not advices, I'm just relaying my personal experience. Jon Burke - KI6LSW Blog: http://psgrallywrx.blogspot.com/ Edited 1 time(s). Last edit at 09/05/2009 01:53PM by Jon Burke. |
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fiasco Wrote:
------------------------------------------------------- > john vanlandingham Wrote: > -------------------------------------------------- > ----- > > And I wanna be a fireman. > > No a airplane pilot. > > No a brilliant scientist. > > > > > > No a...... > > > > LUMBERJACK!!!!!!!! Music UP! Gawddam we need to be able to imbed videos here. 
OOOppps I mean 
Lumberjack Song I'm a lumberjack, and I'm okay. I sleep all night. I work all day. Mounties : He's a lumberjack, and he's okay. He sleeps all night and he works all day. I cut down trees. I eat my lunch. I go to the lavatory. On Wednesdays I go shoppin' And have buttered scones for tea. Mounties: He cuts down trees. He eats his lunch. He goes to the lavatory. On Wednesdays he goes shopping And has buttered scones for tea. Chorus : I'm (He's) a lumberjack, and I'm (he's) okay. I (He) sleep(s) all night and I (he) work(s) all day. I cut down trees. I skip and jump. I like to press wild flowers. I put on women's clothing And hang around in bars. Mounties : He cuts down trees. He skips and jumps. He likes to press wild flowers. He puts on women's clothing And hangs around in bars?! Chorus : I'm (He's) a lumberjack, and I'm (he's) okay. I (He) sleep(s) all night and I (he) work(s) all day. I cut down trees. I wear high heels, Suspendies, and a bra. I wish I'd been a girlie, Just like my dear Mama (or Papa in later versions) Mounties : He cuts down trees. He wears high heels, Suspendies, and a bra?! Chorus : I'm (He's) a lumberjack, and I'm (he's) okay. I (He) sleep(s) all night and I (he) work(s) all day. Yes, I'm (He's) a lumberjack, and I'm (he's) ok-a-y. I (He) sleep(s) all night and I (he) work(s) all day. > > Andrew Steere, 1973 > Lyndeborough, NH > KB1PJY 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. |
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