Quote:
Originally Posted by Zeste  I am trying to figure something out. I have been on the phone with some of my credit card providers, trying to work out a plan so I can get them paid without it breaking my bank. They are very helpful, one operator even saying I should "Plead and beg with relatives to help me make the payments so I can stay on the payment program."
So, it got me thinking, credit rating destruction aside, what can Visa and Mastercard do to you if you don't/can't pay?
I know that there will be torches and pitchforks from both sides of the fence here. But moral and ethical (and credit rating) concerns aside, what actually happens if you just say "Fuck it, I am not going to pay you anymore?" |
I don't know why you put credit rating aside in your thread, because having a bad credit rating is a big deal.
Lets see:
1- Mess up your credit rating for the next 7 to 15 years
2- Won't get financing on a home or car or any other big purchases for that timeframe
3- Some employers will look at your credit and not hire you over it (as if the job market wasn't already tough for some already)
4- You may not even be able to get insurance because they look at your score
5- When you do finally get financing, expect the rates to be high, so you have less money
