I opened 2 credit accounts and im under 18, i put a different age on the credit cards but still with my same social and name, and now im going crazy with all the high interest rates i basically owe $6,000 to my credit cards. What would happen if i dont pay for it?
2007-02-24 09:54:33 · 11 answers · asked by Anonymous in Business & Finance ➔ Credit
The only way to use your status as a minor to get out of the contract is to admit you obtained credit under false pretenses. Even if CRIMINAL charges are not pursued, they admission can be used against you in a civil suit. The attorneys fees will cost you more than $6000 and I promise the card issuer will want to make an example of your case.
2007-02-24 11:37:35 · answer #1 · answered by STEVEN F 7 · 0⤊ 0⤋
Technically, you obtained the credit under false pretenses and can be prosecuted for that criminal act. The fact that you applied for, received and utilized the credit cards makes your morally obligated to pay, even if you don't like the interest rates. Personally, I think you should let your parents know what you have done, and consult legal counsel. You have a bigger problem on your hand than the bills you owe.
2007-02-24 18:07:15 · answer #2 · answered by courtjesterjon 2 · 2⤊ 0⤋
Pam, You are in trouble if they catch you - Normally you are asked for your age and if you have a credit card and are under age, you must have lied, as credit cards are issued only to people who are adults and responsible for paying. - Tell your parents, they may have to pay -
2007-02-24 18:18:34 · answer #3 · answered by Semper Fi 1 · 0⤊ 0⤋
You committed fraud first of all. That's pretty bad. If you dont pay, you will be harrassed for ages and your credit rating will be shot for 7 years.
2007-02-25 08:55:34 · answer #4 · answered by KathyS 7 · 0⤊ 0⤋
It is a criminal offense to apply for credit using false Information. InTexas, as an example, 17 year olds are proceduted as adults.
2007-02-24 18:30:19 · answer #5 · answered by Ti 7 · 1⤊ 0⤋
You are in a lot of trouble here. I know it's hard, but you need to come clean to your parents. They are going to be really mad at you, but they may be able to help you take care of this without you ending up with a criminal record before you're out of high school.
It's a scary option, but I think jail time is more scary.
2007-02-24 19:18:35 · answer #6 · answered by Jen G 5 · 1⤊ 0⤋
Do you have NO scruples at all?! Where are your parents? I am not an atty, but I hope you can be prosecuted for this. Your parents should be prosecuted, too - for failing to teach you not to LIE. I have no love for credit card companies, but you sound like you have absolutely no ethics of any kind. I feel sorry for you.
2007-02-24 18:16:28 · answer #7 · answered by Ryah B 2 · 1⤊ 1⤋
They can't legally hold you to the contract you signed with them because you are a minor. But since you lied about your age, I could see them prosecuting you for fraud and theft instead.
2007-02-24 18:01:45 · answer #8 · answered by Brian G 6 · 1⤊ 0⤋
you will start to have bad credit which you do not need. it might affect you in the long run , it can affect you purchasing a house in your near future.
2007-02-24 18:13:40 · answer #9 · answered by caramelbrown 1 · 0⤊ 0⤋
You committed a crime.
2007-02-24 19:23:09 · answer #10 · answered by Anonymous · 0⤊ 0⤋