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Ever stopped paying your bills?

I was recently browsing around the internet & I saw A LOT of people blogging about how they just stopped paying on their credit cards. I always thought that besides causing damage to your credit report, that this could cause many other problems. A lot of these bloggers said that no real issues have sprouted from refusing to pay on their cards besides constant phone calls, letters, etc. & that after 7 years it doesn't matter that you haven't paid.

Have any of you ever done this? Have you ever just stopped paying on a bill/credit card? How did it end for you?

 
CayShek

Asked by CayShek at 11:39 AM on Nov. 1, 2010 in Money & Work

Level 14 (1,423 Credits)
This question is closed.
Answers (10)
  • There was one time that I was really extremely dumb and I stopped paying my car insurance. Nothing happened. Later I went to switch insurance companies and to pay what I owed to the other one- turns out they actually owed me money since I had been over paying. Odd. Anyway I think that's the only bill I ever didn't pay.

    Most credit card companies will sue you if the balance is high enough and you go a year or so without paying. In some states they can garnish your wages, wipe out checking accounts, attach liens to homes, cars and other assets. It's risky business not paying your bills.

    That being said, if you can't pay your bills it's not the end of the world. Take care of necessities first (food, lights, water, shelter, and transportation.) Then start working on cutting expenses and finding 2nd jobs so that you can start to pay your bills again.

    Hopefully you're not in that situation though!
    Erica_Smerica

    Answer by Erica_Smerica at 8:16 PM on Nov. 1, 2010

  • Not well. We finally ended up (on a couple credit cards) settling. Our credit score plummeted, and even though we've paid off almost every single bit of debt, we don't have good enough credit for even a small loan to try and repair it. UGH>
    Fawn80

    Answer by Fawn80 at 11:41 AM on Nov. 1, 2010

  • Nope. We always pay our bills.
    LovingSAHMommy

    Answer by LovingSAHMommy at 11:42 AM on Nov. 1, 2010

  • I did when I was much younger. I made a choice to pay it all off when I got older and could afford to settle it with one payment. I had a major life change that made my income plummet and I didn't have a lot of choice. Credit card payments were a low priority when I couldn't afford food or a place to live, and I was living in my car (that was later repossessed).
    musicpisces

    Answer by musicpisces at 11:43 AM on Nov. 1, 2010

  • Nope, not good at all. My dad didn't pay on a credit card (just one) and they took him to court, he didn't go. And my mom got pulled over for bad tags and was arrested because her name was on the credit card as well so both of them had warrants for missing the court date. She had to be bailed out and then my dad had to settle and pay in the end. And he had to pay alot more too since he had to pay court fees, and fines not to mention bailing my mom out and what not.
    Gnomeofmyheart

    Answer by Gnomeofmyheart at 11:44 AM on Nov. 1, 2010

  • When I was really young and STUPID I did. I just didn't have it to pay them. I thought they'd go away too - but as long as they contact you, it stays on your credit report for 7 years. It turned into a nasty snarly mess than I'm still digging myself out of 10 years later.

    I learned my lesson. Now, if I can't pay everything, at least I talk to the creditor to try to work something out. At least then it's on record that I'm *attempting* to repay my debt.
    geminilove

    Answer by geminilove at 11:46 AM on Nov. 1, 2010

  • oh, and they only owed 1200 to begin with, and ended up paying close 10 grand in fines and everything in the end.
    Gnomeofmyheart

    Answer by Gnomeofmyheart at 11:46 AM on Nov. 1, 2010

  • Well, we resently filed for bankruptcy. Not exactly what we have ever thought about, but hey life happens and sometimes you get laid off or payed less then before. We will eventually be on top again. :(
    Anonymous

    Answer by Anonymous at 11:49 AM on Nov. 1, 2010

  • They can take you to court and if they do then it's best that you actually go to court. paying anything though regardless of how little the amount will generally prevent them from taking you.
    littlestar85257

    Answer by littlestar85257 at 11:57 AM on Nov. 1, 2010

  • Nope. For awhile, they weren't getting paid on time, but they WERE getting paid.
    _Tam_

    Answer by _Tam_ at 2:20 PM on Nov. 1, 2010

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