Why dont you pay off what you owe and then swear off credit? You're going to have someone eventually after you for a measly 12k, how is THAT worth it?
Are these the same banks that used 'Robostamps' to push through illegal forclosuers and a pace of 600 a day? Are these the same banks that allowed no doc, no income, Hook a brother up loans to millions. Are these the same banks that TARP (My tax money) Flowed to but yet, are not lending to small business and start ups" FUCK THE BANKS. If I SEE A BANKER i'll kick him in his ASS. I have zero respect for anyone who works for a bank. Including the ASS CLOWN Investment Bankers I have to run circles around because they are to stupid and have to have a 20 person meeting in order to figuer out how to raise 50 million. Idiots with MBAs. I'm not saying one should default on their credit cards just to do it. But if things are tight...fuck the banks.
I did try to pay it off. Some cards with small balances of 500 & 1000 I paid off. But after Chase got WM I owed them 12K. Chase represented 80 % of my CC debt. I really did not have 12 K to pay off. I tried to negotiate with them, after 3 months of not paying I got back to them to lower that 29.99%. I was told I earned it and that I deserve it. So I took off. My lawyer told me that balance has been sold to multiple other agencies and until they pursue court action I should not be worried. 3 years later everything is calmed. Last year I needed to buy a new car. Guess what?? I walked in to a regular dealer, after just 1 hr I got a good used car for just 9% in 3 years. NO CREDIT NEEDED.
+1 Exactly what i`ve said from the beginning of this thread....you sold yourself out for a measley $12k in yesterdays money......they win,you lose. time stamp & document these posts in 5 to 10yrs from now.....you will then come to a terrible realization.
I have a MBA man. But i would never work for any type of financial institution. I rather work for a casino. Instead I work for a concrete company. Business is not good now but I love to see things being built.
9% The rest of us pay 1% for auto loans. The system will get its money from you one way or another. Funny thing happens in the long run, your life becomes a salad of consequences. Make those decisions carefully.
Instead I work for a concrete company. Business is not good now but I love to see things being built. _______________________________________________________ MAN, good move! I have a few clients who were in the Concrete Business, started their companies back in the 1940s, son's are taking over now. I don't mind MBA's. I deal with them all the time. But MBA's working at Banks kill me. CFO's etc of privitate companies I deal with are usally smart as a whip and they can make decisions fast. Yea, manufacturing of Concrete has slowed. But you guys had a hella ofa run from 01 to 07!
When I take the present value of my debt and the present value of what I have saved in monthly cash flow............I win, they win too because they never lose. Also while I have a messy credit it prevents me from getting new debt. I can still continue to go to grad school to get my MSA. I saved with my wife enough $$ to pay for our wedding and have a nice honey moon in Europe. Between 5 to 10 from now my credit will be back up without me having to do anything about it. And why??? No matter what they want you to keep on getting debt. Or dont you know that after some years bad stuff in your credit goes away???
they win too because they never lose. ------------------------------------------------------------------------------- Correct, all bad debt charged off is payed by insurance the banks and companies carry. Then they sell the bad debt, to an collection agency, the banks make more money on that sell even after insurance pays them. Third, the second party that bought the debt, will settle for far less and they make a great profit. So, once again, I DO NOT FEEL SORRY FOR THE RAT BASTERDS AS THE BANKS. I say, leave credit alone or only deal in credit that you can pay off in cash no matter what happens.
Yeah during that time this company doubled. I still think we are going to be over capacity for quite sometime. But we avoided debt as much as we could. We still played the game the old way. CASH CASH CASH. We only had some bonds that we issued to pay for a block plant which is running just excellent. Back in 2008 our bonds took a deep hole because it was attached to some derivatives (BETTING) But due to our great financial discipline we had made enough cash to pay it off and tell the bank to f off and we moved our juicy operating accounting to another institution.