On what ground should it bother you that I encourage people to do the same??? Are a guarding of truth, morals??? Who the hell are you?? If someone does not like what I say they can just ignore this thread. Yet it is the most replied to one. Its full of guys like you. And I love it. Keep replying.
I don't think you understand how it works. Your debt will be sold to collectors at a deep discount. Those professional collectors are now owed money from you directly and they can obtain a judgement and a consent decree. They can't seize anything since your debt was unsecured but they can sure dog you and they aren't going to let go. The bottom line is that when you do finance you are going to pay high rates. On everything... My card company tried to raise to 20% or something ridiculous too. I called them and negotiated down to 6.99%. You should have just called and tried to cut a deal. My credit score is 850 and I'm showered with low rate offers. I'm about to refinance my home to a 15-year @ 2.99 APR. I walked into the ford dealership last year and wagged my finger at a shelby convertible and drove off 20-minutes later in it at a deep discount and 1% financing. I'm just saying you can do much better by playing the game. You're just locking yourself into a lifetime of high interest rates and difficult access to credit. For one thing you are going to miss out on historically low mortage rates. I see you are paying 14% on a car loan so basically the system is getting its money from you one way or another. You aren't beating the system.
I did call them. I did try everything but defaulting. Trust me, I wont have to pay a penny. As of the historically low rates I have taken full advantage. I have refinance my student loans and will make cheap monthly payments for 30 years on 100K. . I plan on no taking debt ever in my life. If you ask about housing, dont worry about it. We bought 2 houses under my wife's name. great deal.
You`re so far gone into your world that you have convinced yourself that what you have done is ok. But its not. Thats what bothers me. Keep living the dream. Keep racking up that "good" education debt. I`m sure you will be fine with that attitude.
Again, I don't think you fully understand the implications. Do you realize you cannot even rent a car without a credit card? Student loan debt is a special category where they *can* seize your assets if you don't pay. They can call the entire loan in anytime they don't like how things are going and then attach a lien to your real property. Just like that. Perhaps your wife will realize what a profound loser you are and leave you flat. Then what? Out here in sunny SoCal you cannot obtain a decent job or even rent an apartment with that credit rating of yours. You have no mobility and will no doubt end up preparing those delicious cuban sandwiches for guys like me who game the system. I can understand selling out for some huge sum but $12k?. If you're going to ruin your life over some debt it should at least be a proper huge pile of it. I once borrowed $1M from BofA in Chicago. Now *that* would have been a good default hehe. Felt like the sword of Damocles hanging over me.
Is it a big deal not to rent a car?? I do not know what you are talking about regarding student loans. Have you gotten one ever?? Ruin life??? Over what?? I believe there are close to 3 billion women out there. Just in case a divorce occurs. OH by the way its not about 10K is about how much money you can pay on 29.99 %. I decided to default when I found myself paying CC almost the same amount I was paying on my 100K student debt in just over 10 K. Isn't that just ridiculous. DUDE. I will live only out of my income. Trust me. I can have a very compfortable life with the educational skills I have and continue to obtain. Just wait until I have my MSA, CPA and MBA altogether. I might start lending just like CC to you .........since you are so eager to pay
You just don't understand. When the CC company raised to 29.99% you could have simply refused the new rate. They would have taken your card and required you to pay down the debt at your old rate. They cannot make you pay a new rate, they can only stipulate that further credit advanced to you will occur at the new rate. So you cut the card up and pay the debt down at the old rate. What you've done is silly and ignorant. My comment about ruining your life is just that, the ruination of the potential of your life over some paltry sum. Most men would not accept the idea that they would be supported by women or have women cover for their chaotic finances. Most men demand an independent means and feel more comfortable fulfilling their obligations than avoiding them. The car rental comment was serious. I guess you're not exactly vacationing in the caribbean etc and so have no use for rented cars? Do you ever have your vehicles serviced? Do you just wait there or do you make wifey-poo come pick you up? Most people rent a car. Perhaps you take the bus? Dude you are paying. You are paying 14% on a vehicle loan that most people pay 1% or 2% for these days. You are always going to pay a premium for access to credit. Your student loan is not some liquid line-of-credit. Its just a huge lump that you have to pay down or else. You've actually trapped yourself. Better be extra nice to your wife or you could be making panini for a living and renting by-the-week.