Ignore your debt is the way to go?

Question

i had borrowed lot of money, like almost 20G from CreditCards and i cash advanced all the money into myaccount, since i didn't have debt that are over 4G, mostly collectors just call and sent me letters. iwill usually just throw them into the trash, and the phonecalls from collectors are usually made by computer, so when you picked up the phone and say hello, you will hear a pause in slience, that's when you know if the collectors calling, so you can just hangup immediately. its been a year now, and my money have been making me money in saving and investments, and who need credits when you have so much cash on your hands, right? America is Great! if i had done that in say Hong Kong, these Credit CArds companies would have hired collections to harass me at my place of residence, HAHA I LOve AMERICA!

Answer 1

if you don't mind screwed up credit and a complete inability to get a good rate on a car or a house or a lot of other items of value, it's definitely the way to go.

Answer 2

I'm not sure why you're telling us all this. Do you think you have found a way to get out of paying bills, and you want share your secret with other people? Because it's no secret how to ruin your credit....ANY IDIOT CAN DO IT! Enjoy that money now, because this is all going to come back to haunt you later. Bill collators don't go away! Credit card companies are cracking down big time on people! They are starting to take more and more people to court, and if the person doesn't show, they get a judgment against them and they will end up getting their money. And if are some how lucky enough to avoid the bill collectors now, when the time comes for you to buy a house, a car or any other big investment, you are going to be totally screwed! So good luck with your plan, and pray that your parent's will allow you to one day live in their basement, because with bad credit, even renting an apartment is near impossible!

Answer 3

The question that all of you need to ask, and obviously he doesnt care about his credit score. Is the 7 year expiration timeframe worth the bad credit score. If you do not plan to buy a car, a house, apply for credit cards, etc... then your answer would probably be yes. He may be young, but then again a lot of things can happen in 7 years. On the same note, if your young then 7 years isnt that long to wait. Your credit score will basically return to where it was at in the begining of this little scam. However, during this 7 year period if he decides to pay the debt off (in the case he makes a ton of money like Im sure he is thinking) he can usually strike a deal with the credit companies to pay in full and have it removed from his credit report.

But, is the risk worth the wait for him? Maybe. Is this scam for everyone, no. But everyone handles their credit differently and has different feelings about how their credit score reflects on them and their financial holdings.

In the case this little scam doesnt work for you, then try this link. It's not going to make you rich overnight, but it can generate a nice little perpetual income that you can use to pay the monthly payments for these debts. It has worked for me in netting an average of $500 a month. Just give it a try, maybe it can help you or someone else. http://website.ws/kvmlm2/my.dhtml?sponsor=wvjock

Answer 4

Your screwing up any chances of living a normal life in the future. Our lives in this country are governed by our credit report and that three digit number, the credit score. You will eventually have to pay your creditors, you just can't keep getting new cards once you've maxed out the other ones. That's why credit applications ask for your social security number, so they can check your credit report. Eventually you will pay, I'm only 15 and I already know this.

Answer 5

Fool! Credit is more important than money these days. Credit is used for buying a car, to a house, and in some cases gettig that important job you want. Your credit will be checked to see how resopnsible you are. Not to mention if you ever wanted to rent a house, they check it then too. More importantly, someone is going to pay for your debt, in the form of higher interest for other customers. Thanks for that.. And if you have as borrowed as much as you say, what makes you think that your creditors wont sue you, get a court order to freeze your accounts and force you to file bankruptsy. Well good luck anyway.

Answer 6

From your writing I gather you're a young person. You will eventually want to buy a house when you get older. If these debt problems duell on your credit record for a long time, you will have a tough time getting credit to buy a house. No matter how much money (cash) you have, it is very likely you'll want to get a mortgage.

Answer 7

doesnt matter how much money you have, credit is still the currency of choice....you wont be able to finance a house, car etc...becuase of your credit history....and if you pay anything thats really expensive like a car or house cash up front, guess what? the government is going to want to know why.....and after they see you have enough to be buying things that are that expensive with cash money, theyre going to ask you another question, if you have all that money, how come you never took care of your debt?......what they do after that....well you dont want to know.....

Answer 8

You'll regret this decision in the future, believe me. When you have no credit for a house or a car or anything else then you'll look back on this decision as a bad one.

Answer 9

That is no nonsense, huge gain huge risk ! Like in any business, your risk to ignore your debt could be worth or not right ? It is a matter of your choice. Good luck !

Answer 10

whoah! i wish i can do that, but i cant! guilt feeling haunts me, even if i only borrowed php 100 and i cant pay back immediately...