Fuck Credit

[Anonymous No.56038018]

>>Stoped Paying Credit Cards
>>Got some legal defense thing
>>How am I gonna get fucked?

[Anonymous No.56038152]

>>56038018
>stopped paying credit cards
bad idea
>got some legal defense thing
I assume you're referring to a debt settlement company like Freedom Financial or National Debt Relief
>how am I gonna get fucked?
your credit score will be shit until either 1) six years pass and the debts fall off your credit report, or 2) all of the banks agree to erase/delete your debt in exchange for you paying back a fraction of the money you owe

having a shit credit score will make it hard to get an apartment or a good job

[Anonymous No.56038257]

>>56038018
It blows my mind sometimes that people are really this stupid.

[Anonymous No.56038311]

>>56038257
What's stupid about it? Debtmaxxing is based.

[Anonymous No.56038619]

>>56038311
Yeah I already have a mortgage at a good interest rate, I maxed em out, got a ton of inventory for this business im doing.

[Anonymous No.56038999]

>>56038619
You won the game, congrats anon. What ballpark amount did you permanently borrow from them?

[Anonymous No.56040723]

>>56038999
90k roughly. The repayment plan is like 1200 for the lawyers for like 48 months, but.... Statute of limitations being 3 years I plan to stop paying them after 36 months. Unless they can settle it all before.

[Anonymous No.56040789]

>>56038152
>our credit score will be shit until either 1) six years pass and the debts fall off your credit report, or 2) all of the banks agree to erase/delete your debt in exchange for you paying back a fraction of the money you owe
literally not a problem if you're not a local and have another citizenship. Just change your name in your country of origin and open a bank account in a new place. Pay a bribe to some third world shithole local bureaucrat to get a new birthdate too. Complete blank slate.

[Anonymous No.56040866]

>>56040789
I will be doing this, my plan now is to hustle tons of money from AI and other revenue streams into Crypto. I doubt I will ever go as far as a new name and such, I will probably just use the gains from all of this to settle the accounts if it becomes too inconvenient.

I can make the $1300 a month legal/consolidation payments, this is just so I dont get served and my wife is like wtf, cause she has no clue about any of this. <3

[Anonymous No.56040884]

>>56038018

Anon, you know they brought back debtors prisons a couple of years ago, right? You can be locked up for this now. Debtmaxing was just a joke. You're going to prison.

[Anonymous No.56040910]

>>56040884
I'd come out of prison with more business skills.

[Anonymous No.56040972]

>>56040910
So you would rather pay lawyer fees than your debt?

[Anonymous No.56041055]

>>56040972
>/
Yeah the way it works is basically, anything they settle, they take 25%. Also when it's all done they wont be charging anymore. And yeah I'd rather use a lawyer to fuck their lawyers, then let them fuck me. Paying it all back at the interests rates I have is ridiculous. So fuck em.

[Anonymous No.56042842]

>>56041055
you know anon, you could just do the settlements yourself and not spend an extra 25%

just call each bank around March (tax return season) and ask if they'll delete the debt off your credit report in exchange for you paying 30% of what you owe. Maybe increase your offer to 40% if they don't accept 30% the first few years.

that's literally all your debt settlement company is doing.

>I can make the $1300 a month legal/consolidation payments, this is just so I dont get served... And yeah I'd rather use a lawyer to fuck their lawyers, then let them fuck me.
you seem to have convinced yourself that your debt settlement company is somehow legally representing you, and you have a lawyer "fucking their lawyers", and that you're now immune to court orders or having your wages garnished... you're wrong about all of that. It does none of those things.

[Anonymous No.56042878]

>>56041055
>Paying it all back at the interests rates I have is ridiculous
your debt stops accumulating interest once it's charged off. So if you haven't made a payment on your credit cards in 6+ months then you don't have to worry about additional interest accruing.

[Anonymous No.56042920]

the problem with debtmaxxing is that seven year clock is a lot longer than it sounds. and when your credit score is really in the dumps, like sub-500 (which it will be for a time) you stop giving a fuck. next thing you know you've got like 10 collections accounts for all sorts of little shit.

i'm up to 640 now with 2y11m before the big $14k obligation falls off. was it worth it? well I saw the world and capitalone paid for it. had a legendary good time.

[Anonymous No.56042957]

>>56040866
bro you are spending $1300/mo to create an even bigger paper trail for your malfeasance.

if you're going to debtmaxx you go basically homeless, work seasonal jobs, don't even sign leases (when you're sub-500 nobody will give you one anyways), do WHV in australia/NZ/Ireland etc.

if they cant find you they cant serve you, if they cant serve you it all falls off after seven years. instead what you've done here is hired someone who will make sure your creditors can always find you, and these lawyers you're hiring to "fuck" your creditors? they have probably already reset your seven year clock multiple times.

you fumbled it bad. probably gonna lose your house over it.

[Anonymous No.56043002]

>>56042920
the problem is that good-paying jobs include your credit score as part of their background check

so not only will ruining your credit score force you to live in the seediest, most unsafe apartments with other criminals and deadbeats, but it will also prevent you from getting a good job

$14k is not nearly enough to make it worthwhile

only scenario where debtmaxxing actually makes sense is if your house is paid off and you're self-employed / independently wealthy. In that circumstance, yeah you don't care if your credit score is garbage for 7 years, so you might as well take out loans, convert the cash to gold, and bury the gold in your backyard. However you'd still have to worry about the lender getting a court judgement forcing you to pay the money back. And there's still the risk of going to jail for fraud, because technically it's fraud to borrow money with no intention of paying it back.

[Anonymous No.56043029]

>>56042957
jesus, live like an actual fucking rat for 7 years to make like 30k? and in those 7 years it will be all spent. what a stupid fucking idea

[Anonymous No.56043033]

>>56043002
the seasonal jobs don't care. though there are obviously plusses and minuses to that seasonal lifestyle, what you do get is usually free housing, very little scrutiny (most of these jobs you get off a reference, you don't even fill out an application before the interview) and ample time between jobs to travel. on the other hand the pay is bad.

look my plan was to debtmaxx my way through the second half of my twenties and early thirties, live and work all over the world in a way that would be way outside my means totally then capitalize on those unique experiences and contacts to get myself good career employment in my mid-thirties when the credit (finally) recovers.

you say its not worthwhile, I say it was.

[Anonymous No.56043045]

>>56043002
>the problem is that good-paying jobs include your credit score as part of their background check


what in the fuck

[Anonymous No.56043067]

>>56043045
Would you want someone with poor impulse control to manage your business? No. No you wouldn't.

How do you identify potential employees with poor impulse control? Easy. Check their credit score (and their criminal background).

[Anonymous No.56043072]

>>56043029
if im gonna live like a rat im gonna do it while im in my 20's and that sort of thing is tolerable, if not attractive.

[Anonymous No.56044475]

>>56043067
>>56043045
I know a guy who debtmaxxed and he has had not problems getting jobs in his profession with a credit score in the 400s