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Haven’t paid a credit card for 6 months? [troll aka “foolynyah” zotted]
VI / XV / MMXIV | pansgold

Posted on 06/15/2014 12:50:54 AM PDT by pansgold

This advice is worth what you paid for it.

You see, after 90 days of not paying on a credit card, the bank charges it off and sells the debt along with hundreds or thousands of others to a collection agency for 1/100th of the value of the original debt. The debt buyer then tries to collect from the debtor and they keep all the money they can collect.

They will take you to court and try and garnish your wages for 6 to 8 or 12 years. That’s when you ask the court to force the new debt holder to show the court proof of ownership (paper documents) for the debt they are trying to collect for.

These creditors are buying debt with the click of a mouse over the internet and will have none of the original paperwork. The reason, it’s cost prohibitive and a filing nightmare. These creditors prefer to operate with only intimidation and threats. They gamble in getting a judgment by your failure to appear in court. SHOW UP IN COURT!

Just watch the debt purchaser drop the case and give up on collection.


TOPICS: Business/Economy
KEYWORDS: creditcard; debt; default; eliminatedebt; theft; zot
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1 posted on 06/15/2014 12:50:55 AM PDT by pansgold
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To: pansgold

But your credit is ruined.


2 posted on 06/15/2014 12:54:26 AM PDT by Dog (Founding member of the Osama Bin Laden was alive the whole time club..)
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To: Dog

If you have not paid your credit card in 6 months or even 90 days, it’s already ruined.. right


3 posted on 06/15/2014 12:58:02 AM PDT by pansgold
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To: pansgold

You are stealing.


4 posted on 06/15/2014 12:58:08 AM PDT by Ray76 (True change requires true change - A Second Party ...or else it's more of the same...)
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To: pansgold

I haven’t paid on my credit cards in 6 months....because I paid them all off.


5 posted on 06/15/2014 1:02:30 AM PDT by RC one (Militarized law enforcement is just a nice way of saying martial law enforcement.)
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To: Ray76

...and what pray tell is a company buying a $2,000 dollar debt for 20 bucks trying to do from you?

Especially since they want the whole 2K.


6 posted on 06/15/2014 1:02:38 AM PDT by pansgold
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To: pansgold

Honor your commitments.


7 posted on 06/15/2014 1:04:52 AM PDT by Half Vast Conspiracy (Settled science.)
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To: RC one

Fantastic if you can. What about those that lost their job and unemployment? They can’t pay it off.


8 posted on 06/15/2014 1:05:51 AM PDT by pansgold
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To: Half Vast Conspiracy

I agree with you. If you can pay it off you should.


9 posted on 06/15/2014 1:07:23 AM PDT by pansgold
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To: pansgold

Why not just pay the bill and avoid all the hassle?


10 posted on 06/15/2014 1:09:19 AM PDT by cardinal4
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To: Dog
But your credit is ruined.

For 7 years.

This advise is questionable. Every state has its own distinct laws and court procedures concerning debt collection. It has been a few decades since I had to worry about such things, but I remember it used to be the case in Texas that only the original creditor could sue you.

11 posted on 06/15/2014 1:09:24 AM PDT by SeeSharp
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To: pansgold

Reneging on your justly-incurred debts is theft.


12 posted on 06/15/2014 1:10:27 AM PDT by agere_contra (I once saw a movie where only the police and military had guns. It was called 'Schindler's List'.)
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To: pansgold

You are kidding, right?

You bought goods or services on credit. The credit company paid the merchant. You did not pay the credit company. You possess goods or services and you have not paid for them.

That is theft.

The credit company absorbs much of the loss but tries to limit that loss by selling the debt still owed to another company. They get what they can for it. The company buying the debt then begins the task of collecting from you what you owe. You still owe for the goods or services you bought on credit, only now you don’t owe the credit company you owe the collection company.


13 posted on 06/15/2014 1:11:04 AM PDT by Ray76 (True change requires true change - A Second Party ...or else it's more of the same...)
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To: pansgold

You are full of rationalizations, and sound just like a lib. If you lose your job, stop using your cc’s, sell some of the stuff you bought with the cc’s. Pay the minimum until paid off or consult with a credit debt management company.


14 posted on 06/15/2014 1:11:29 AM PDT by FreedomGuru (Time for torches and pitchforks.)
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To: cardinal4

No money is a good reason.


15 posted on 06/15/2014 1:14:04 AM PDT by pansgold
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To: SeeSharp
I agree 100%. The only uniform law is federal bankruptcy law.
16 posted on 06/15/2014 1:16:00 AM PDT by pansgold
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To: pansgold
...and what pray tell is a company buying a $2,000 dollar debt for 20 bucks trying to do from you?

I don't believe that ratio. 1/10th or so fine, but 1/100 makes no sense to sell it for so little

17 posted on 06/15/2014 1:16:03 AM PDT by montag813
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To: pansgold
The Ten Commandments
  1. I am the LORD thy God Thou shalt have no other gods nor graven images or likenesses
  2. Not take the LORD's name in vain
  3. Remember the sabbath day
  4. Honour thy father and thy mother
  5. Thou shalt not kill
  6. Thou shalt not commit adultery
  7. Thou shalt not steal
  8. Thou shalt not bear false witness
  9. Thou shalt not covet thy neighbor's wife
  10. Thou shalt not covet thy neighbor's goods

18 posted on 06/15/2014 1:17:56 AM PDT by Yossarian
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To: agere_contra

“Reneging on your justly-incurred debts is theft.”

It sure is. But if you are faced with feeding your family or paying off the card, I’d bet I know where your dollars would go. At least... I hope I know.


19 posted on 06/15/2014 1:18:27 AM PDT by pansgold
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To: Ray76; All
That is theft.

Isn't it amazing how deferred payment, 3rd parties and online anonymity have separated so many Americans from what is right and moral. This USED to be cash, or a line of credit from someone who you had to look in the face every day, and from whom you could not hide, or the entire town would shun you. THIS is part and parcel of our decline.

20 posted on 06/15/2014 1:19:15 AM PDT by montag813
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To: pansgold

If the original creditor is so desperate that it would sell the debt for a penny on the dollar, he would probably accept an honest settlement offer.


21 posted on 06/15/2014 1:20:25 AM PDT by Mr Ramsbotham (Laws against sodomy are honored in the breech.)
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To: Yossarian
Ahhh it isn't stealing. If through no fault of your own through loss of a job or income you are unable to fulfill an agreement you entered into and had every intention of repaying.
22 posted on 06/15/2014 1:23:00 AM PDT by pansgold
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To: pansgold

This belongs on Dummy Underground, not here.


23 posted on 06/15/2014 1:25:02 AM PDT by Ingtar (The NSA - "We're the only part of government who actually listens to the people.")
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To: Mr Ramsbotham
A settlement is always the best way out. IF you can keep to the settlement payments without a job or unemployment and still buy food for the family.
24 posted on 06/15/2014 1:26:03 AM PDT by pansgold
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To: pansgold

If you do this intentionally then this course of action is you committing FRAUD!


25 posted on 06/15/2014 1:26:36 AM PDT by SES1066 (Quality, Speed or Economical - Any 2 of 3 except in government - 1 at best but never #3!)
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To: Ingtar

Your reply (”this”) is welcome there.


26 posted on 06/15/2014 1:27:11 AM PDT by pansgold
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To: SES1066

NOT if the judge doesn’t think requiring PROOF of the debt constitutes fraud.

That’s why we have courts. They make the determination if it’s fraud or a requirement.


27 posted on 06/15/2014 1:30:58 AM PDT by pansgold
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To: pansgold

Are you trying to assuage your conscience?


28 posted on 06/15/2014 1:33:54 AM PDT by Ray76 (True change requires true change - A Second Party ...or else it's more of the same...)
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To: pansgold

Coming from 2001. Pay it back to collections. Let it go if you can’t pay it. Your stuck for 6 years regardless.


29 posted on 06/15/2014 1:38:36 AM PDT by eyedigress ((zOld storm chaser from the west)/?s)
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To: pansgold
pansgold said: "If through no fault of your own through loss of a job or income you are unable to fulfill an agreement you entered into and had every intention of repaying. "

It IS your fault if loss of a job prevents you from honoring your obligations. The intention to pay back the money is insufficient. You must endure whatever sacrifice is necessary to pay back the money.

The alternative is to never have borrowed it. This alternative is open to everyone, regardless of how some seem to think it is not. If there is even the slimmest possibility of not having the money to pay the debt, then one should behave as if they have no credit. The ability to borrow more than one can pay back is not justification for doing so.

30 posted on 06/15/2014 1:39:14 AM PDT by William Tell
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To: Ingtar
This belongs on Dummy Underground, not here.

Agreed 100%.

Aside from the 15-year mortgage on my house, I have never -- not once -- purchased anything on credit...and I paid that off in 6 years. Long before Dave Ramsey came on the scene, I decided to live debt free. In my 73 years, I've only owned 6 cars, each one paid in full when I drove it off the lot. My current one is 15 years old with 283,000 miles and it runs perfectly. I don't have Mexicans doing my yard, I still cut, trim and edge it myself. I've been to Vegas innumerable times on conventions but have never spent a penny on the games of chance. I am opposed to theft by trying to scam those who provide goods or services.

There's an old saying that happiness isn't having what you want but wanting what you have.

31 posted on 06/15/2014 1:39:20 AM PDT by re_nortex (DP - that's what I like about Texas)
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To: Ray76
“You are kidding, right?” No.

If you made those purchases and had every intention of paying for them and due to an unforeseen loss of work later on, how is that stealing if you can honestly no longer afford to pay the debt and keep the lights on?

Please explain that to me.

32 posted on 06/15/2014 1:39:36 AM PDT by pansgold
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To: William Tell

“It IS your fault if loss of a job prevents you from honoring your obligations.”

Is your domain at EOP.GOV?


33 posted on 06/15/2014 1:41:15 AM PDT by pansgold
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To: pansgold

If your conscience bothers you that’s good! As others have advised, you should make a payment plan and stick to it.


34 posted on 06/15/2014 1:43:05 AM PDT by Ray76 (True change requires true change - A Second Party ...or else it's more of the same...)
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To: Ray76

If you can I agree. Remember, no source of income makes this hard to do and as you probably know, breaking this new agreement by missing just 1 payment nullifies the entire agreement and it’s back to square one.


35 posted on 06/15/2014 1:45:58 AM PDT by pansgold
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To: pansgold
If you made those purchases and had every intention of paying for them and due to an unforeseen loss of work later on, how is that stealing if you can honestly no longer afford to pay the debt and keep the lights on?

Surely you know the saying about where the road leads that's paved with good intentions. And even in obama's America, there are still plenty of opportunities to find work and earn an honorable income. Take some time to watch Door to Door, the true story of Bill Porter, a man with cerebral palsy who did overcame tremendous odds to make a good living as a door-to-door salesman.

36 posted on 06/15/2014 1:48:29 AM PDT by re_nortex (DP - that's what I like about Texas)
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To: pansgold

You have something that you did not pay for.

If you lose a job and can no longer afford the payments call the creditor and negotiate a payment plan. You already know they will accept something rather than nothing - they’re willing to sell the debt to a collector. Save them the trouble. Negotiate a payment that you believe you can make, and stick to it.

Dodging it doesn’t make it go away. It only makes life more stressful. And who needs that?


37 posted on 06/15/2014 1:49:08 AM PDT by Ray76 (True change requires true change - A Second Party ...or else it's more of the same...)
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To: pansgold

38 posted on 06/15/2014 1:50:23 AM PDT by Darksheare (Try my coffee, first one's free..... Even robots will kill for it!)
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To: pansgold

What if your former boss told you that the company intended to pay you but they just don’t have the money? Then they walked away leaving you with one or two weeks work unpaid. Would you feel they stole your time and work?

What if they offered to pay you part of your check? It would be better than nothing. Would you take it?


39 posted on 06/15/2014 1:53:39 AM PDT by Ray76 (True change requires true change - A Second Party ...or else it's more of the same...)
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To: pansgold
The only uniform law is federal bankruptcy law.

And even that isn't completely uniform. The Federal courts do honor most state limitations on bankruptcy. For instance, in Texas they can't take your homestead or your means of making a living, which can mean your car, tools, etc. unless they are pledged as collateral.

40 posted on 06/15/2014 1:56:40 AM PDT by SeeSharp
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To: re_nortex

I’m sure flippin’ B-Mac’s for minimum wage will support the family of 5 in resident Barack Hussein Obama’s America.


41 posted on 06/15/2014 1:58:42 AM PDT by pansgold
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To: pansgold

If legally it were stealing we would still have debtor’s prison and failure to pay a debt would be a felony. It may be a moral failing. I have suffered a few over the years.


42 posted on 06/15/2014 2:00:17 AM PDT by Louis Foxwell (This is a wake up call. Join the Sultan Knish ping list.)
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To: Ray76
"What if they offered to pay you part of your check? It would be better than nothing. Would you take it?"

What if the government forced you to pay taxes and then gave that money to banks 9Who own those Credit Card Companies) because they were in danger of collapsing but were deemed "too big to fail" and then you find out the government is so far in debt (and getting in deeper every day) that you children's grand children will still be paying on that debt with their tax dollars when they are senior citizens?

43 posted on 06/15/2014 2:04:25 AM PDT by Mad Dawgg (If you're going to deny my 1st Amendment rights then I must proceed to the 2nd one...)
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To: pansgold
I’m sure flippin’ B-Mac’s for minimum wage will support the family of 5 in resident Barack Hussein Obama’s America.

First of all, there should be no minimum wage at all. It's slavery just as is unionism. And just what were the items or services you purchased on credit? If they were essential, you should have paid in full. If they were unessential, you shouldn't have bought them in the first place.

My first job paid me $45.00 a week. And to this day, I think in those terms and adjust my lifestyle to live within my means. Furthermore, when I was still working, I planned as if my employer would go out of business at any time and always had a fallback strategy.

44 posted on 06/15/2014 2:06:30 AM PDT by re_nortex (DP - that's what I like about Texas)
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To: Ray76

You contact the Dept of Industry, Labor and Human Relations. They will get your money even if it means shutting your bosses doors for good and selling the assets. The first thing to be paid is always WAGES.


45 posted on 06/15/2014 2:08:12 AM PDT by pansgold
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To: Mad Dawgg

One persons moral failings are not an excuse for your moral failings. “Everybody’s doing it so it’s ok”.


46 posted on 06/15/2014 2:15:31 AM PDT by Ray76 (True change requires true change - A Second Party ...or else it's more of the same...)
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To: Mad Dawgg

Look I’m not being high and mighty here. I’ve had no money. Lived in dangerous neighborhoods where PD drags people out in the night, my car is broken into multiple times, women mugged outside my window and the bastard is gone before I can get there, no heat in the middle of a northern winter. I get it.

For most of my life I’ve been an employee. Then I went out on my own. For the past x years I’ve signed the front of the paycheck and not just the back. It puts a whole new perspective on things.

We should all strive to act morally. If we don’t then the whole system falls apart.

Evaluate your circumstances and determine what you can pay, no matter how “small”, and pay it.


47 posted on 06/15/2014 2:17:35 AM PDT by Ray76 (True change requires true change - A Second Party ...or else it's more of the same...)
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To: re_nortex
“First of all, there should be no minimum wage at all.” just for Obama jobs.

No employer pays minimum wage if you have a half-a-brain and work hard.

MILLIONS of Americans are out of work and thanks to Barack Hussein Obama they will never find a job equal to the one they lost.

Nowadays with the cost of gasoline $45 bucks gets most people to a minimum wage job for 3 days a week.

Do you miss GWB yet? How about that $1.85 gas when he left office.

48 posted on 06/15/2014 2:17:43 AM PDT by pansgold
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To: pansgold

Company is bankrupt. Get in line, this will take a while.


49 posted on 06/15/2014 2:23:03 AM PDT by Ray76 (True change requires true change - A Second Party ...or else it's more of the same...)
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To: pansgold

>> $45 bucks gets most people to a minimum wage job for 3 days a week.

You’re talking trash.


50 posted on 06/15/2014 2:24:51 AM PDT by Ray76 (True change requires true change - A Second Party ...or else it's more of the same...)
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