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Posted: 2/23/2006 5:24:52 PM EDT
I owed $7,000 on my Chase MC , and $6,000 on my B of A VISA. Well, I hadn't been making payments for 6 months, and so I get a call from collection agencies. They said, if I pay them $4900 for Chase, and $3800 for B of A, then they will write off the rest and call my accounts settled. So, I borrowed money from a friend, and paid off those two accts.

I thought I would be in serious trouble for not paying the minimum for so long, but it actually worked out for the better.
Link Posted: 2/23/2006 5:25:54 PM EDT
Oh this will get good.

[munching popcorn]
Link Posted: 2/23/2006 5:26:00 PM EDT
It still ruined your credit though
Link Posted: 2/23/2006 5:26:25 PM EDT
okay.
Link Posted: 2/23/2006 5:26:59 PM EDT
that cuz collections bought them at .50 on the dollar
they are making out pretty good too
meanwhile someone else in the world is paying a extra 2-4% to cover your no pay ass
Link Posted: 2/23/2006 5:27:18 PM EDT
[Last Edit: 2/23/2006 5:28:02 PM EDT by pale_pony]

Originally Posted By krpind:
Oh this will get good.

[munching popcorn]




Shuddup and pass the popcorn...scoot over.
Link Posted: 2/23/2006 5:28:10 PM EDT

Originally Posted By MSKOOTER:
It still ruined your credit though




Not as bad as declaring bankruptcy.
Link Posted: 2/23/2006 5:28:11 PM EDT
According to the IRS, the forgiven portion of your debt is income and must be declared as such.
Link Posted: 2/23/2006 5:28:38 PM EDT
What friend would loan you that kind of money and actually think you'll pay them back??
Link Posted: 2/23/2006 5:29:48 PM EDT
[Last Edit: 2/23/2006 5:30:26 PM EDT by WMW]

Originally Posted By Jace:
What friend would loan you that kind of money and actually think you'll pay them back??




A long-time friend who did well for himself, and I WILL pay him back, if I have to work graveyard security at some seedy Las Vegas motel to do it.


Link Posted: 2/23/2006 5:29:58 PM EDT

Originally Posted By Da_Bunny:
According to the IRS, the forgiven portion of your debt is income and must be declared as such.



I think that is actually up to the lender, whether they issue a 1099M or not. Then again, they may have to in order to write off the debt.

Link Posted: 2/23/2006 5:31:13 PM EDT
Maybe God will only settle for 40 years on the 75 for you. Sounds fair.

Kidding a bit, but your promise to pay fu is weak.
Link Posted: 2/23/2006 5:31:16 PM EDT

Originally Posted By WMW:

Originally Posted By Jace:
What friend would loan you that kind of money and actually think you'll pay them back??




A long-time friend who did well for himself, and I WILL pay him back, if I have to work graveyard security at some seedy Las Vegas motel to do it.





Then why didn't you do that to pay the credit.......aww shit, never mind I'm not going there
Link Posted: 2/23/2006 5:32:26 PM EDT
So now you just admitted publicly that you're a thief. Nice work
Link Posted: 2/23/2006 5:32:48 PM EDT

Originally Posted By Jace:

Originally Posted By WMW:

Originally Posted By Jace:
What friend would loan you that kind of money and actually think you'll pay them back??




A long-time friend who did well for himself, and I WILL pay him back, if I have to work graveyard security at some seedy Las Vegas motel to do it.





Then why didn't you do that to pay the credit.......aww shit, never mind I'm not going there




Because the collection agencies wanted the settlement money NOW, or they threatened to take me to court.
Link Posted: 2/23/2006 5:33:40 PM EDT

Originally Posted By zoom:
So now you just admitted publicly that you're a thief. Nice work




Thief of what?

The forgiven amount was the exhorbitant interest the credit card companies were charging anyway.
Link Posted: 2/23/2006 5:33:48 PM EDT

Originally Posted By pale_pony:

Originally Posted By krpind:
Oh this will get good.

[munching popcorn]




Shuddup and pass the popcorn...scoot over.



I got Sno Caps....
Link Posted: 2/23/2006 5:33:52 PM EDT

Originally Posted By WMW:

Originally Posted By MSKOOTER:
It still ruined your credit though




Not as bad as declaring bankruptcy.



Not by much....
Link Posted: 2/23/2006 5:34:47 PM EDT

Originally Posted By pale_pony:

Originally Posted By krpind:
Oh this will get good.

[munching popcorn]




Shuddup and pass the popcorn...scoot over.



I'm gonna grab a beer. You guys want one?
Link Posted: 2/23/2006 5:34:48 PM EDT
good work. hinking.gif
Link Posted: 2/23/2006 5:35:40 PM EDT
Excellent job escaping your responsibility and obligation to pay.
Link Posted: 2/23/2006 5:37:07 PM EDT

Originally Posted By roboman:
Excellent job escaping your responsibility and obligation to pay.




In their eyes, I PAID.

There are a lot worse cases out there $100K debts, and the people evade for years.
Link Posted: 2/23/2006 5:37:59 PM EDT
Pass the popcorn plz.
Link Posted: 2/23/2006 5:38:05 PM EDT
Is there any room left on the couch? I brought some extra beer. Pass the popcorn
Link Posted: 2/23/2006 5:39:08 PM EDT
[Last Edit: 2/23/2006 5:40:12 PM EDT by gardenWeasel]
Hot topic of late - check
Thread started to ruffle some feathers - check
Ahhhh
Link Posted: 2/23/2006 5:39:19 PM EDT

Originally Posted By WMW:

Originally Posted By roboman:
Excellent job escaping your responsibility and obligation to pay.




In their eyes, I PAID. SETTLED

There are a lot worse cases out there $100K debts, and the people evade for years.



FIXT
Link Posted: 2/23/2006 5:39:22 PM EDT
Chips and salsa anyone?
Link Posted: 2/23/2006 5:39:45 PM EDT

Originally Posted By WMW:

Originally Posted By roboman:
Excellent job escaping your responsibility and obligation to pay.




In their eyes, I PAID.

There are a lot worse cases out there $100K debts, and the people evade for years.




In their eyes you screwed them over which in turn screwed up your credit
Link Posted: 2/23/2006 5:40:03 PM EDT

Originally Posted By WMW:

Originally Posted By roboman:
Excellent job escaping your responsibility and obligation to pay.




In their eyes, I PAID.

There are a lot worse cases out there $100K debts, and the people evade for years.



Did you pay the amount you charged?

No?

Then you didn't pay.

Thanks for playing though.
Link Posted: 2/23/2006 5:40:12 PM EDT

Originally Posted By WMW:

Originally Posted By zoom:
So now you just admitted publicly that you're a thief. Nice work




Thief of what?

The forgiven amount was the exhorbitant interest the credit card companies were charging anyway.



YOU agreed to pay that exhorbitant amount of interest when you entered into an agreement with them. If you had paid your balance in full every month there would be NO interest owed.
Now, seriously, what was the CC money spent on? Toys or neccesities? With almost every person I have known in CC debt, almost all the money was spent on toys.
Link Posted: 2/23/2006 5:40:48 PM EDT

Originally Posted By MSKOOTER:

Originally Posted By WMW:

Originally Posted By roboman:
Excellent job escaping your responsibility and obligation to pay.




In their eyes, I PAID. SETTLED weaseled my way out of paying

There are a lot worse cases out there $100K debts, and the people evade for years.



FIXT



Fixed.
Link Posted: 2/23/2006 5:40:57 PM EDT
How did you run up 13K on credit cards?
Link Posted: 2/23/2006 5:41:47 PM EDT
I can't believe you people feel sorry for the credit card companies. It's not like I committed insurance fraud.
Link Posted: 2/23/2006 5:42:19 PM EDT
WMW,

The thing is you don't get that people judge by your word. When you get right down to it, it is ALL you really have.

I'm not one to preach, but this is a huge blunder. First by breaking your word to pay the CC company back and second by coming here and bragging about it.

I'm don't want to rag ya man.......but you are going to get a lot of well deserved shit by posting this.
Link Posted: 2/23/2006 5:42:49 PM EDT

Originally Posted By WMW:
I can't believe you people feel sorry for the credit card companies. It's not like I committed insurance fraud.



I dont feel sorry for cc companies, I feel sorry for those who can't be trusted and then brag about it on a internet forum
Link Posted: 2/23/2006 5:43:13 PM EDT
You do realize that the collections will still show up on your credit report for 7 years and that they will have a note attached saying that you settled the debt for the less then the amount owed don't you? You will need to check your credit report in a couple of months and make sure those accounts show up as paid off. Just because the collection company says they will take care of it doesn't mean they will. I went through this with doctor bills after my insurance company screwed me and payed nothing on $16,000 in medical bills. It will knock your credit score down pretty good but it won't prevent you from buying things like a vehicle or a house...unless the credit agency doesn't report it as paid.
Link Posted: 2/23/2006 5:43:15 PM EDT
Would you feel differently if you went to the local ma and pa store, ran up a store tab to $13K and then "settled" with them for the same amount?
Link Posted: 2/23/2006 5:43:24 PM EDT
[Last Edit: 2/23/2006 5:49:26 PM EDT by KA3B]

Originally Posted By WMW:

Originally Posted By zoom:
So now you just admitted publicly that you're a thief. Nice work



Thief of what?
The forgiven amount was the exhorbitant interest the credit card companies were charging anyway.



Someone pointed a gun to your head and MADE you buy all that shit on your credit cards, right?
It's not your fault, you're just a VICTIM in this credit card global conspiracy.

It's the credit cards fault you went into debt, just like it's the spoons fault that Rosie Odonnell is fat.

Link Posted: 2/23/2006 5:44:07 PM EDT
Hey I put too much salt on this popcorn.......pass one of those beers, please.
Link Posted: 2/23/2006 5:44:17 PM EDT
[Last Edit: 2/23/2006 5:44:57 PM EDT by WMW]

Originally Posted By Jace:

Originally Posted By WMW:
I can't believe you people feel sorry for the credit card companies. It's not like I committed insurance fraud.



I dont feel sorry for cc companies, I feel sorry for those who can't be trusted and then brag about it on a internet forum




High and mighty aren't we.

I was laid off for a while and had no means to support myself. And I'm not too proud to work low jobs either. Had to pay COBRA (health insurance premium of $400 a month) because of an illness.
Link Posted: 2/23/2006 5:44:17 PM EDT

Originally Posted By ShakyJake:

Originally Posted By pale_pony:

Originally Posted By krpind:
Oh this will get good.

[munching popcorn]




Shuddup and pass the popcorn...scoot over.



I'm gonna grab a beer. You guys want one?



Yeah, I'm getting dry over here. Want some Milk Duds?
Link Posted: 2/23/2006 5:45:50 PM EDT

Originally Posted By ShakyJake:

Originally Posted By pale_pony:

Originally Posted By krpind:
Oh this will get good.

[munching popcorn]




Shuddup and pass the popcorn...scoot over.



I'm gonna grab a beer. You guys want one?



Link Posted: 2/23/2006 5:45:53 PM EDT
Raisinettes or Goobers?

I brought both...
Link Posted: 2/23/2006 5:46:09 PM EDT
I buy a lotta shit with my CC(s), especially toys I dont really need, but I always make double the payment due and dont let myself get carried away. They in turn drop the interest rate every so often and raise the credit limit to tempt me.

All you gotta do is pay them like you agreed to when you got the card, and there is nothing to worry about.
Link Posted: 2/23/2006 5:46:11 PM EDT

Originally Posted By WMW:

Originally Posted By Jace:
What friend would loan you that kind of money and actually think you'll pay them back??




A long-time friend who did well for himself, and I WILL pay him back, if I have to work graveyard security at some seedy Las Vegas motel to do it.





then why didn't you do that to pay the credit card bills?





shit, nevermind, talking about responsibility to a person like you is a waste of time.


someone get me a beer too?

Link Posted: 2/23/2006 5:46:37 PM EDT

Originally Posted By pale_pony:

Originally Posted By ShakyJake:

Originally Posted By pale_pony:

Originally Posted By krpind:
Oh this will get good.

[munching popcorn]




Shuddup and pass the popcorn...scoot over.



I'm gonna grab a beer. You guys want one?



Yeah, I'm getting dry over here. Want some Milk Duds?





Milk Duds......lmao.
Link Posted: 2/23/2006 5:47:34 PM EDT

Originally Posted By Zaphod:
Raisinettes or Goobers?

I brought both...


Pass the Raisinettes.

Anyone got a Coke?
Link Posted: 2/23/2006 5:48:29 PM EDT
OKAY!! OKAY!!

I spent it on HOOKERS and BLOW!!!

Are ye happy now???
Link Posted: 2/23/2006 5:50:20 PM EDT
I've got Coke, ill trade you for some extra Milk Duds.

Link Posted: 2/23/2006 5:50:40 PM EDT
I mean, if I was a hot girl, I'd do porn to pay it off, okay?



But nobody pays that kind of money to see ugly White guy.
Link Posted: 2/23/2006 5:51:03 PM EDT
If you didn't pay the debts you racked up you are a theif, and besides that an idiot for running up consumer debt anyway. It doesn't matter if the vicitim is a CC company. You are no better than a f'n pan handler.

Not that that is off my chest I need to go download some music off of Kazaa
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