for expample.. i got a lot of cards from every bank.. what happens if i waste more than 10.000 $ and dont pay it back 2 the bank? can i go to jail
2007-07-05 16:28:38 · 6 answers · asked by Anonymous in Business & Finance ➔ Credit
Well for one your credit rate will suffer for two yes they can go after you in the court system and for that large amount of money is can be considered as grand theft and or fraud punishable by 5-10 years.
2007-07-05 17:02:44 · answer #1 · answered by Pengy 7 · 0⤊ 0⤋
It would be nice if people could be locked up for being unethical. but until such law passes, we wait and hope that those persons in adult bodies began to act like adults. Please don't take this the wrong way, but if you are man or woman enough to ask and favor ( via applying for credit ), be man or woman enough to repay the money. There's a little thing called karma. Don't let it come back on you. Do right. I mean, why would you even consider not paying back money that isn't yours in the first place? This is a real joke of a question. Never burn bridges you may have to cross again someday. Be responsible. If you're not going to hold up to your end of the deal. Send the bank their card back.
2007-07-05 16:57:16 · answer #2 · answered by cpaige517 2 · 0⤊ 0⤋
I don't understand why you would want to do this in the first place. It doesn't show that you are responsible at all. Responsible or not you will have to take responsibility for the money you spend. Like anyone who has borrowed money from anyone they have to pay them back. I would not if I were you go off and spend money unwisely that isn't even yours. You will end up suffering in the long run trying to pay all this money back or getting very bad credit. Credit cannot be redeemed for almost 10 years. Take responsibility for your actions and stop asking questions you know the answer to. Do the right thing and don't spend beyond your means. The general rule is don't spend it unless by the time the next bill comes you can pay all of it back. Good Luck!!!
2007-07-05 16:33:46 · answer #3 · answered by lovelyandcarefree 5 · 1⤊ 0⤋
Possibly. If you are obtaining these credit cards with no intent to pay them off, that might qualify as fraud. Pretty soon your credit will get extremely bad and you won't be able to get any more cards anyways. Then, when you REALLY need the money, you'll be screwed.
2007-07-05 16:32:13 · answer #4 · answered by Emmy 3 · 1⤊ 0⤋
No, but your credit will be ruined and they can take legal action. Call the card comapnies and explain your situation. Offer to make payments and send the card back. There are credit counseling companies that can negotiate with the card companies for you for a lower percentage rate. the worst thing you can do is to stop making payments.
2007-07-05 16:33:03 · answer #5 · answered by maxmom 7 · 0⤊ 1⤋
it will go against your credit, and it will follow you for-ever! but, no i don't think they can lock you up for it.
2007-07-05 16:32:27 · answer #6 · answered by chelle 3 · 0⤊ 2⤋