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Goner Message Board / ???? / Credit Card Debt...
Posted: Mar 20, 2006 10:12 pm
 
Allright, I gots about $4k in credit card debt that I haven't made payments on in quite a while. I got a letter from the company saying they're gonna fuck me up if I don't call them by TODAY.

Now, the reason I haven't paid is 'cause I don't have a job right now- I'm odd-jobbing it, getting paid in cash, and trying to survive. I cannot afford to pay the credit card company anything at this point in time, but will be able to pay off the debt IN FULL when I sell the house- but that'll be at least two if four or five months in the future.

What should I tell the crredit card people? Do I tell them the truth? Or will they try and get liens on my house (which I own with my brother, so this is an unacceptable outcome)? Or do I just say "I'm lookin' for a job, and I'll pay it when I can"?

I need some sage advice... these fuckers call about 5 times a day, and the roommates are gettin' tired of covering for me.
Posted: Mar 20, 2006 10:26 pm
 
If you want, you can enter into a settlement with the company to pay off the settlement amount at a future date. They'll probably go for it, as it's pretty hard to collect. Get a cheap lawyer (ha!) and negotiate the settlement amount.
Posted: Mar 20, 2006 10:27 pm
 
Get a cheap lawyer


1-900 Theresa K where you at?
Posted: Mar 20, 2006 10:29 pm
 
You can't walk away anymore like you could in the olden' days. This guys is always giving tips on this stuff. http://www.daveramsey.com/
Posted: Mar 20, 2006 11:35 pm
 
just ignore it. it'll never go away. it's great!
Posted: Mar 20, 2006 11:39 pm
 
Yeah, and it's more difficult now to file for personal bankruptcy.
Posted: Mar 20, 2006 11:50 pm
 
i have about the same amount of credit card debt as you do. with an amount that small (not small to you, but to the company) they won't go after you through the courts. it would cost them too much and be too much of a hassle. the longer you put it off, the more likely they'll settle for less than you owe. don't talk to them for 5 months or whatever. then when you sell your house, call them and offer them like 60% of what you owe. by now, i'm guessing, it's not even the credit card company calling you, but a collection agency they've hired. they will lie to scare you. i haven't paid on any of my credit cards in over 2 years, and i just keep getting letters from different agencies saying i better pay up or else. or else what? nothing! haha. if i never pay, my credit will be completely ruined, but that's about it.

i'm just leaving the country instead of worrying about it.
Posted: Mar 20, 2006 11:58 pm
 
also, you can talk to them and tell them not to call you anymore and send something in the mail instead. tell them you'll file a grievance (it is possible...i have the info somewhere, but i'd have to dig it up) because they're harrassing you. don't be a little bitch with them, either. make them think you know what you're talking about. they can't keep calling you like that if you tell them not to do it. but they will SAY they can keep talking to you, and that they'll take legal action, and yadda yadda yadda. they're trying to scare you. take your sweet ass time, cause you're more in control than you think.
Posted: Mar 21, 2006 12:04 am
 
NICK FUCKING G!
Posted: Mar 21, 2006 12:05 am
 
DUDE!
Posted: Mar 21, 2006 12:06 am
 
the HAND!!!!

did jon ever send that package? i bet not!!!!!
Posted: Mar 21, 2006 12:22 am
 
No he never did, see you fuckin MAY THE 17TH!!!!! Its STONER BASHING TIME!!!
Posted: Mar 21, 2006 12:25 am
 
yeah, check out dave ramsey or get one of his financial peace books from the library. it will help you, if ya can get thru all the christian stuff in it.
Posted: Mar 21, 2006 1:01 am | Edited by: Jack Stands
 
Something kind of fun to do? Every other call with them, go completely nuts. Never say your name, or acknowledge who you are (in fact, keep asking who they are). Then, everytime they try to speak, talk loudly into the phone, "LALALALALALALALALALALALALALALALALA...", and don't stop until they start talking again. Repeat. Outlast them. They are really just a pseudo-threatening telemarketer. They can't really hang up until you do. Also, if possible, try to order a pizza. Insist they repeat your order.
Posted: Mar 21, 2006 5:45 am | Edited by: Useless Eater
 
Send them a copy of this do not call letter Check out the rest of the site too, lots of good info, but definitely send them a letter.

I will tell personal anecdotal story. Before we're married, wife has bad sinus infections. Goes to doctor. Doc suggest surgery. Wife gets surgery. Problem with Dr. office filing insurance results in wife owing $2,000 (yeah, she had insurance, that they accepted, total). Dr gets lawyer to sue future wife. Wife goes to court. Wife tells judge same story, and gives copies of all the times she has offered to pay the bill in full minus their 50% collection fees ($3,000 total now). Judge asks wife if she's going to school. Yes. Why? Teacher. Work and school? Yes, enough to pay bills. Ok, monthly settlement payment is $20 for the $2,000 bill. Six months later, lawyer brings future wife back in front of court, to get her to pay more $. Judge says stop wasting my time, delivers cock punch, payments are now $10/month, does that sound fair to you future Mrs. Eater? Yes, thank you.

clubber posted a while back about the same thing Nick is talking about. Clubber said that they accepted 40% of what he owed them. Just make sure that they clear the debt from your record in full and writing and all that jazz.
Posted: Mar 21, 2006 9:49 am
 
Kind of off the subject, but does anybody know how long you can get out of paying an emergency room bill, and how badly that could affect you, if at all? I have one that's maybe $150 but I can't pay it off right now.
Posted: Mar 21, 2006 1:20 pm
 
Judge says stop wasting my time, delivers cock punch

batman style KAWARACK!! POW!
nice
Posted: Mar 21, 2006 1:21 pm
 
Its STONER BASHING TIME!!!

woah woah woah, setlle bro, settle.....
nice
Posted: Mar 21, 2006 2:29 pm
 
Hmmm, maybe you can talk to a mortgage broker, get a loan on the equity on your house. I'm going through some lean times right now, and our broker always has great ideas on how to make safe, smart financial decisions. I was suspicious at first, but we've bought (and sold) 2, and we're about to buy a 3rd home. And I'm not rich- I'm actually in school. Buying rules- if you're handy. We generally pay less (monthly) for a mortgage than for rent... Anyways, that's an idea. That's the first person I would call.
good luck
Posted: Mar 21, 2006 2:39 pm
 
I have a 1,000 credit card bill I haven't paid on for half a year. I finally have some money and am gonna pay a little bit off ($500)....is there anyway I can jew them down on the payments at all?
Posted: Mar 21, 2006 2:59 pm
 
As long as you send them at least a little bit of money, they can't really do anything. And your credit will be wiped clean (once you finally pay everything off) in 7 years.
Posted: Mar 21, 2006 3:13 pm
 
$150 but I can't pay it off right now.
Send them $10 and tell them you will send them something monthly. Call and talk to somebody, get their name and number, and ask that since you a paying them, can they not report your debt to the collection agencies. Request a copy of your credit report to make sure that they don't report it.

Al this shit seems real trivial until you try to buy a house. Then every past 30 days, past 60 days, past 90 days, etc will be brought up. It took some time to clean up my credit before I could buy a house. I owed about 17 grand in school loans and such shit. If you have a big school loan in default, there is a Federal program that will allow you to make small payments and get the shit off your record.
Posted: Mar 21, 2006 3:55 pm
 
As long as you send them at least a little bit of money, they can't really do anything. And your credit will be wiped clean (once you finally pay everything off) in 7 years.

This is one of the things they tell you to get you to pay it. I worked for a credit card bank for years. If the debt is written off (which just means written off as a bad debt, so there is no way to go back into good standing with the company at this point- I think this is after 6 months of nonpayment?) it will be taken off your credit bureau after 7 years REGARDLESS of if you pay it or not. And if you pay it off during that 7 years, it will say written off paid in full, which is still a write off and looks bad on your credit report!

I think it is possible to get it wiped clean before the 7 years are up if you agree with the company with a settlement for 60% of the total or whatever they decide on- not just by paying it off at your own rate, because you don't have any bargaining chips that way. Just make sure they are completely removing the write off from your credit bureau! But I'm not sure exactly how the settlement thing works- wasn't my department...
Posted: Mar 21, 2006 3:56 pm
 
I say fuck debt. Life is too short to worry about that. Eventually I will find a girl who has been doing everything right her whole life and use her to get anything I need if my credit score doesn't approve it.
Posted: Mar 21, 2006 4:04 pm
 
I just finally paid off the collection agency that was harrassing me. It was about $200 for the last four months. They wanted it all up front, I told them I couldn't do that, they told me they'd garnish my wages if I didn't pay. These payments were killing me the last few months. I believed them because a friend of mine got garnished over some old shit he owed.
These people were calling me at work, trying to pressure me into giving them my bank account info so they could sodomise my modest savings, etc. Whatever you do, educate yourself on how to deal with these assholes before you give them a dime. They do all kinds of illegal shit (it's illegal for them to call you at work & they know it) to get what they want so procede carefully and don't believe anything they say.
Posted: Mar 21, 2006 4:16 pm
 
Posted: Mar 21, 2006 4:51 pm | Edited by: Useless Eater
 
rj, as far as I can tell most places that look at your credit make two exceptions on outstanding or large debts. The two being: student loans and medical bills. Sure, they'll show up when you're applying for a loan, but if the loan is important enough that you're actually sitting down talking to a person, you might get some consideration.

The collection companies have to get a judge to garnish your wages, they can't just do it. And a judge might be sympathetic towards your broke ass.

You know how their call maybe be monitered for safety and savings? You can record their phone calls as well, just make sure you inform them that you're recording at the beginning of the call.
Posted: Mar 21, 2006 6:43 pm
 
Has anyone else had any experience with ditching debt by moving between the US and Canada? I have a friend who owes $11,000 and swears that her credit counselor up here told her that she could basically ignore it as she's been in a rough spot lately and is in no position to pay. She says that this is because credit bureaus are essentially corporations and not any kind of government agency (which I knew), and that the two countries are totally separate when it comes to those agencies. They don't even communicate with each other, so if you immigrate, you start with a clean slate. The only way for a creditor to pursue a debtor between the two countries is through the Canadian legal system (or US if it's the other way around), and that is really rare and only happens when the debt is HUGE. There is no credit check when one immigrates between countries - they only check for unpaid child support payments and other government stuff.

Can anyone confirm this? It's obviously not a very widely advertised loophole and I can't find much info.
Posted: Mar 21, 2006 7:55 pm
 
Has anyone else had any experience with ditching debt by moving between the US and Canada?

I can tell you that I work for a US bank, and we check Canadian credit with the TransUnion credit bureau before we extend credit. I've done it several times. I would ssume it works both ways. So, moving to escape repayment is one thing, but if they expect to re-establish credit right away, probably not gonna happen.

Also, if that 11k is spread across several creditors, they are likely not going to take any real action to get their money back besides phone calls. Change your number, ignore them. They'll stop calling after a couple years.
Posted: Mar 21, 2006 7:56 pm
 
that's all I wanted to hear. thanks!
Posted: Mar 21, 2006 7:56 pm
 
Unless perhaps you're assigned a new social insurance number? I dunno how that works...
Posted: Mar 21, 2006 8:12 pm
 
So just ignore the 11k in her case and all she'll get is phone calls?
Posted: Mar 21, 2006 8:24 pm
 
well, it's been four years since she moved back here and she still hasn't even received a single call. plus she owes $40k in US student loan debt that's never been paid on.
Posted: Mar 21, 2006 8:25 pm
 
oh yeah, if you immigrate legally, you are assigned a Social Insurance Number, which is totally separate from your SSN system.
Posted: Mar 21, 2006 8:37 pm | Edited by: The Troll
 
Sorry to pipe in on this, it must be PMS (sorry, ladies), but I sort-of care about Joe, in an avuncular way.

Joe, from what I know of you (perhaps it's more projecting what I know of your father and your interests as mentioned) I think of you as more an entrepreneurial type. You don't seem to me to be one who will end up working for someone else but, instead, will be schemeing and doing as you get older. With that end in mind, it seems to me that it would be critical for you to resolve this issue in a good way. While I know it might be punk rock to say "fuck you" to the man, remember, you made an agreement when you signed up for that line of credit. You are only as good as your word. You will be judged by your word when it comes time, in the future, to finance your schemes. If you can placate the cc company by making a minimum payment (for 4K, it's gotta be something like $40), then do it. Don't get your credit fucked up now. Sure, they won't necessarily come after you, but they will do what they can to ensure your future attempts at getting a phone/car/cable/[insert service]/mortgage/business loan, troublesome. Sorry if this is sounding high and mighty, but, regardless of what you do and who you are, remember, you are only as good as your word, and, in this case, you gave your word to pay back what you borrowed.
Posted: Mar 21, 2006 8:39 pm
 
Kind of off the subject, but does anybody know how long you can get out of paying an emergency room bill, and how badly that could affect you, if at all? I have one that's maybe $150 but I can't pay it off right now.

Medical bills are pretty much just like anything else. It'll get turned over to a collection agency after 4-6 months. It can show up on your credit history- but like was mentioned above- medical bills are often considered exceptions when you go to get approved for something. I wouldn't sweat it if I were you. You have a good year before anyone should start hasseling you for real- & that's a pretty small amount so it wouldn't look horrible on your credit history.
Posted: Mar 21, 2006 8:46 pm
 
Thanks folks. I definately plan on paying back the debt- I'm just concerned with how much they call, how realistic their threats are, etc. Troll- thanks, sound advice, accurate assesment of me, thank you. I've just never had a credit card before this one, kinda got in over my head, and am trying to figure a way out with out doing TOO much harm to myself. I feel like after I pay this motherfucker off I'm not gonna use a credit card EVER again.
Posted: Mar 21, 2006 8:51 pm
 
Good plan! And I agree with the Troll, if you can pay it back, that is the best way to go, and most creditors have some form of "re-aging" they will do where if you make scheduled payments for a few months your account will be considered "current" and you will be fine!
Posted: Mar 21, 2006 8:53 pm
 
I imagine this has all kinds of unspoken attachments, but, if you are intending on paying it back after selling the house, and that will be short term, why not ask your Dad to front you the minimum payment for the next couple of months?
Posted: Mar 22, 2006 4:05 am
 
Financial matters = last thing I thought I'd see discussed on this board...
Posted: Mar 24, 2006 4:24 am
 
1-900 Theresa K where you at?

i am a finance idiot.
i have no credit cards
they are evil!
credit and debt are this country's biggest businesses

sorry can't help you. i'm a cash-only kinda girl.
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