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/biz/ - Business & Finance

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50073774 No.50073774 [Reply] [Original]

whats stopping me from maxxing out my credit cards and just not paying anything back?

>> No.50073854

>>50073774
The short answer is that if you don't pay your credit card bills, you will eventually be subject to collections activity, which could include wage garnishment, legal action, and damage to your credit score.

Your credit card issuer may also choose to close your account if you consistently fail to make payments, which would limit your access to credit in the future.

>> No.50074255

I've met alot of people who did this when I was travelling in SE Asia, fags didn't want to leave hookerville Pattaya so they just said screw it and maxxed out all their credit cards withdrawing cash from the ATM's everyday until they were maxxed and getting all the credit they could get before their scores were fucked.

It works for about 6 months - 1 year if they had a high enough CC limit to have a good amount then they rot in some shit hole 100 USD a month room after blowing it all on hookers and beer and then end up homeless and ruined since they have fuck loads of debt back home and regret it.

if you wanna live the high life for a year go for it.

>> No.50074532

It depends where you live. In the EU the gov has the right to cash out your savings, take your car, sell everything in your house, sell your house and take your paycheck every month. You won't be able to rent, get internet, buy a ticket. Nothing

>> No.50074702

Where I live, if you run a small business, you can get 9k usd credit from one bank and it doesn't affect your personal docs, only the business. If you don't pay your credit that's in your personal doc, the government can take your houses and cars, if there's only one family house, they don't take it.

>> No.50074725

>>50073854
Hi OpenAI

>> No.50074853
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50074853

>>50073774
Imagine ever being homeless.
You would have to not work and dodge creditors for years. I've been jobless for a year. It was pretty boring. I like going someplace during the week. Weekends brutal though not gonna lie.
>inb4 wfh fags cry

>> No.50074919

>>50074255
Just come back to the US as a hardworking immigrate. Open some credit cards and start the process all over again.

>> No.50076207

>>50073854
It's just unsecured debt. All creditors or collector's can do in the US for unsecured debt is call occasionally and send letters. Just don't answer.

>> No.50076364

>>50076207
That's not true. Major banks have contacted law firms in every state and they use them every day to collect unsecured debt

>> No.50076384

>>50076364
Contracted

>> No.50076618

>>50073774
I did this and ended up settling for half my balance (agreed to pay 4200 out of 7200 over the course of 2 years kek)

>> No.50076752

>>50073774
"Don't care" beats every namby-pamby "or else" reply in this post.
"You'll get in trouble" - I don't care
"You'll ruin your credit" - I don't care
"They'll take your wages" - Can't make me work - I don't care
"You won't be able to get a good job" - See above - I don't care
"You'll get sued" - I don't care
etc etc blah blah blah I don't care!

It's the trump card. It beats everything!

I'll come back across the border with a tan and a Consular Matricula. You won't do shit.