How to Pay Off Credit Card Debt
handeling: Guest
Posted: Wed Feb 18, 2004 11:52 pm
Post subject: please, take a look and share your knowledge
i have a big dilemma with my credit card. i have over $3000 debt, and i have been paying it off until this month when i have received some news that turned around my life (so now i'm going on a voulunteering mission around the world and am not sure of when/if coming back) while paying off my dept is out of the question (i'm simply unable to afford it) i am worried about making everything fair. i don't care if my credit history will be ruined, i'm only worried about any legal problems i might have. however, i want to let the CC company know that i'm unable to pay under any circumstance. should i call them and let them know of situation, and cancel my card?? will they sue me, issue a warrant? will i become a criminal? will the CC company actually open an investigation, and in case of my return - catch me? any kind of advice will be greatly appreciated!!
Guest
Posted: Thu Feb 19, 2004 8:20 am
Post subject: How to Pay Off Credit Card Debt
handeling wrote:
i have a big dilemma with my credit card. i have over $3000 debt, and i have been paying it off until this month when i have received some news that turned around my life (so now i'm going on a voulunteering mission around the world and am not sure of when/if coming back) while paying off my dept is out of the question (i'm simply unable to afford it) i am worried about making everything fair. i don't care if my credit history will be ruined, i'm only worried about any legal problems i might have. however, i want to let the CC company know that i'm unable to pay under any circumstance. Just by leaving the country will not make the debt go away.. You borrowed 3,000.00 and the Credit Card Company will just not let you call and say to cancel the card and I am not paying it back.. You can leave the Country, but the Credit Card Company will use all means that they have available to collect the money owed them for the 180 days that they will have the debt.. After that time, you will have to deal with a collection agency, who will even use additional methods to try to collect.. In reality what you have done is commit a crime, it is called Theft of service.. Just think of this, If someone owed you 3000.00, and they came up to you and said ," I am leaving the country and can not pay you back the 3,000.00, " What would your reaction be? It will be a similar reaction from the Credit Card Company.. should i call them and let them know of situation, and cancel my card?? will they sue me, issue a warrant? will i become a criminal? will the CC company actually open an investigation, and in case of my return - catch me? any kind of advice will be greatly appreciated!!
NightStarForum Moderator
Joined: 07 Nov 2003
Posts: 2012
Location: Illinois
Posted: Thu Feb 19, 2004 8:24 am
Post subject: How to Pay Off Credit Card Debt
No you can't go to jail for not paying, but if they wanted to they could file a judgment on the debt owed. There are statute of limiations for each state, for the account, and after if a judgment is filed. Might just eventually expire if you are not around to pay. If they can't attach a wage garnishment, against property. Yes, definitely call in to close the account, don't need to leave the door open
Posted: Wed Feb 18, 2004 11:52 pm
Post subject: please, take a look and share your knowledge
i have a big dilemma with my credit card. i have over $3000 debt, and i have been paying it off until this month when i have received some news that turned around my life (so now i'm going on a voulunteering mission around the world and am not sure of when/if coming back) while paying off my dept is out of the question (i'm simply unable to afford it) i am worried about making everything fair. i don't care if my credit history will be ruined, i'm only worried about any legal problems i might have. however, i want to let the CC company know that i'm unable to pay under any circumstance. should i call them and let them know of situation, and cancel my card?? will they sue me, issue a warrant? will i become a criminal? will the CC company actually open an investigation, and in case of my return - catch me? any kind of advice will be greatly appreciated!!
Guest
Posted: Thu Feb 19, 2004 8:20 am
Post subject: How to Pay Off Credit Card Debt
handeling wrote:
i have a big dilemma with my credit card. i have over $3000 debt, and i have been paying it off until this month when i have received some news that turned around my life (so now i'm going on a voulunteering mission around the world and am not sure of when/if coming back) while paying off my dept is out of the question (i'm simply unable to afford it) i am worried about making everything fair. i don't care if my credit history will be ruined, i'm only worried about any legal problems i might have. however, i want to let the CC company know that i'm unable to pay under any circumstance. Just by leaving the country will not make the debt go away.. You borrowed 3,000.00 and the Credit Card Company will just not let you call and say to cancel the card and I am not paying it back.. You can leave the Country, but the Credit Card Company will use all means that they have available to collect the money owed them for the 180 days that they will have the debt.. After that time, you will have to deal with a collection agency, who will even use additional methods to try to collect.. In reality what you have done is commit a crime, it is called Theft of service.. Just think of this, If someone owed you 3000.00, and they came up to you and said ," I am leaving the country and can not pay you back the 3,000.00, " What would your reaction be? It will be a similar reaction from the Credit Card Company.. should i call them and let them know of situation, and cancel my card?? will they sue me, issue a warrant? will i become a criminal? will the CC company actually open an investigation, and in case of my return - catch me? any kind of advice will be greatly appreciated!!
NightStarForum Moderator
Joined: 07 Nov 2003
Posts: 2012
Location: Illinois
Posted: Thu Feb 19, 2004 8:24 am
Post subject: How to Pay Off Credit Card Debt
No you can't go to jail for not paying, but if they wanted to they could file a judgment on the debt owed. There are statute of limiations for each state, for the account, and after if a judgment is filed. Might just eventually expire if you are not around to pay. If they can't attach a wage garnishment, against property. Yes, definitely call in to close the account, don't need to leave the door open
posted by CardRatings.com at 3:56 PM
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