How legit is refusing to pay back credit card debt?

[thereallegend]

I have over $500 in credit card usage due this Thursday at 11:59. My payday is Friday, so I'll need to sell the majority of my dividend stocks to avoid an interest charge.

How legit is not paying back credit cards?

1. It'll ruin your credit score
2. But this doesn't stop predatory CC companies from lending you more high interest credit
3. They'll attempt to garnish your wages
4. You can pay a credit repair company to fix your credit

 

[9Romance]

nigga pay ur debt. U will regret it later on in life

 

[thereallegend]

nigga pay ur debt. U will regret it later on in life

The credit card interest far exceeds any investment gains from dividend stocks. So yes it's a good argument.

 

[autismmaxxer]

i recommend you to pay back your debts if you dont want to end up in jail buddy

 

[thereallegend]

i recommend you to pay back your debts if you dont want to end up in jail buddy

You can't be jailed for debt. There's no such thing as debtor's prison in America.

 

[autismmaxxer]

You can't be jailed for debt. There's no such thing as debtor's prison in America.

oh damn didnt know that, so what happens if you just take out a loan for 100k and never pay it back?

 

[9Romance]

You can't be jailed for debt. There's no such thing as debtor's prison in America.

you technically can actually

 

[eduardkoopman]

Don't fuck up, your credit score. For some stupid 500 usd amount.
If one is gonna scam, the creditcard companies, with not paying back. At least rack up like 50k or 100k or whatever high amount.

 

[thereallegend]

oh damn didnt know that, so what happens if you just take out a loan for 100k and never pay it back?

Worst what happens is they take you to court and garnish your wages.
Another possibility is that they use a debt settlement company to hound you and eventually they'll come down on the price of the debt.

 

[thereallegend]

Don't fuck up, your credit score. For some stupid 500 usd amount.
If one is gonna scam, the creditcard companies, with not paying back. At least rack up like 50k or 100k or whatever high amount.

I can't get high limit CCs because my income is so low. I only have access to $5500 of credit on all my cards combined (3).

 

[incel194012940]

 

[eduardkoopman]

oh damn didnt know that, so what happens if you just take out a loan for 100k and never pay it back?

Garnish his McDonalds wages.

 

[eduardkoopman]

I can't get high limit CCs because my income is so low. I only have access to $5500 of credit on all my cards combined (3).

To little amount of money, to go fuck up your credit score for.

If one ever gonna fuck up, ones credit score.
It should be done and planned deliberately. Running away with a big amount of assets ( ideally assets that give a return, or go up in value) they cannot touch or find.

 

[thereallegend]

To little amount of money, to go fuck up your credit score for.

If one ever gonna fuck up, ones credit score.
It should be done and planned deliberately. Running away with a big amount of assets ( ideally assets that give a return, or go up in value) they cannot touch or find.

Yeah the credit card interest is 27% APY while my dividend stocks average out to maybe 7% APY. Not a fair trade

 

[Deleted member 4362]

Honestly not much will happen if you fuck credit card companies over. Score will go down and they might cancel it eventually but that’s about it.

The people you don’t want to fuck over are services that will sell it to a debt collector like PayPal, Klarna etc. but those aren’t really credit cards.

Also it’s worth noting typically there’s usually a grace period for missed payment, idk what it is but they don’t count as a missed payment immediately.

 

[T50 Demon]

Dont listen to these cucks, dont pay your credit debt. tf Shekelstein gonna do

 

[AlexBrown84]

keep being a good slave in the system

 

[MTMM]

keep being a good slave in the system

and you escaped the matrix?

 

[kurd]

Dont listen to these cucks, dont pay your credit debt. tf Shekelstein gonna do

hou je kk bek

 

[thereallegend]

Honestly not much will happen if you fuck credit card companies over. Score will go down and they might cancel it eventually but that’s about it.

The people you don’t want to fuck over are services that will sell it to a debt collector like PayPal, Klarna etc. but those aren’t really credit cards.

Also it’s worth noting typically there’s usually a grace period for missed payment, idk what it is but they don’t count as a missed payment immediately.

I'm pretty sure Sam Hyde said the debt collectors don't do shit and you can tell them a sob story and they'll reduce the amount.

 

[thereallegend]

and you escaped the matrix?

he actually has

 

[thereallegend]

Dont listen to these cucks, dont pay your credit debt. tf Shekelstein gonna do

I'm scared. I wanna maintain a good score so I can apply for new swipes 6 months from now. Cash back, intro offers, financing options are good perks.

 

[WeiWei]

I can't get high limit CCs because my income is so low. I only have access to $5500 of credit on all my cards combined (3).

looooooooooooooooooooooooooooooooooooooooooooooooool

 

[T50 Demon]

hou je kk bek

Ik ben van de straat jij van de kaart mattie koerdistan

 

[HerpDerpson]

If you don't have any property, you can just declare bankruptcy. But it's not worth it doing it over 500$. Get a loan as big as you can and then pocket there money.

 

[Deleted member 31562]

i have 10k in credit card debt

@twilight @AlexBrown84

 

[Deleted member 5467]

You won't go to jail, but you'll get a collection on your credit report and it will get in the way of getting apartment leases, mortgages and car loans.

If you are ok with fucking up credit, don't pay the debt.

 

[thereallegend]

i have 10k in credit card debt

@twilight @AlexBrown84

What’s your strategy

 

[AlexBrown84]

i have 10k in credit card debt

@twilight @AlexBrown84

get it up to 250k atleast

 

[Deleted member 31562]

What’s your strategy

pay off the minimum payments for now and we’ll see

 

[Deleted member 31562]

get it up to 250k atleast

my credit limits are low

 

[robtical]

My dad had like $4k in cc. He did not pay. Now its been yrs and 20k+ probably. They sent letters initial stage and called. Once they came and handed letter, left. Now they stopped sending letter too. They can never recover their money back.