CC Debt
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- 40 Responses
- pr20
For every dollar you take out you need to pay back about $2-3 to the bank, so your friends debt is in reality closer to 20-30k... Clearly all the above speaking about how little he owes don't really know what hey are talking about.
- oh so when you get a mortgage - do you go around saying you owe approx 3 x the value of your property -pah!fadein11
- Not_Just_Another0
How can he not afford the repayments, yet still manage to travel/move half way round the world to another country... Surely the cost of the flight would be atleast a couple of grand...
- toodee0
Could he file for bankruptcy whilst in the UK? That way when he returns the problems with getting a mortgage etc shouldn't affect him.
If he's going for it he could take out a few extra loans before he leaves, but that seems like there's an intent to defraud involved.
- rson0
10K is really not that much. Depending on his APR your friend should start doubling payments.
- maikel0
I have to say that 'a friend of mine' had a tax debt, and he moved abroad. He asked advise by tax lawyer friend of him who told him NOT to pay, basically as the said tax debt would prescribe in five years time, and for the amount of money it was likely more expensive to prosecute him than calling it a day.
The tax lawyer -who was quite knowledgeable in that filed- explained that government and private companies normally try to scare you off, so that you pay; but as collecting debts is expensive, efforts are likely focused in companies and not individuals.
As far as I know the debt effectively prescribed and everyone's a chicken dinner.
- Get advice from a lawyer, then take his advice and don't pay the bill.toodee
- sadpanda0
Oh Oops, I read JSK wrote "this is for child support" on the first page and I took that as,... THIS IS FOR CHILD SUPPORT .. LETS lynch him!
Whoops. sowwy.
- domacle0
Not sure what you mean sadpanda? He doesn't have a kid?
Where did I mention he had a kid?
- animatedgif0
how is he going to pay all that off on a hairdresser or bar staff salary
- fadein110
anyone who can't afford minimum payments on 10k needs to work harder.
- sadpanda0
So you're telling me this guy isn't paying his child support (ran away once) and now he's thinking of leaving the country to he could basically abandon his child AGAIN and his responsibilities AGAIN. This guy sounds like a fucking gem.
Dead beat dad!
What good friends you have.
- sea_sea0
So glad this thread isn't about me. Lol
Carry on.
- raf0
It is a bit shocking that with the level of globalization, especially in the financial industry, it's so easy to get off the grid just by crossing a border.
- omg0
tell him to change his name and start a new life
- MarleyMarl0
This generation is fucked come retirement time. Everyone is so concerned with what they look like and having the latest iGadget that they're willing to go into debt to continue their lifestyle.
I can't wait to see them all working at Starbucks in their 80's just to get by.
- I've set my sights on never retiring. Always doing something, then die. Hopefully leave wife with life insurance.mikotondria3
- ukit0
Believe it or not the average household credit card debt in the U.S. is 15k.
I know people (who went to law school and other higher education) who are on the hook for 100k or more.
- meffid0
I'm in the same boat, but for twice that and the same countries, but reversed.
- kris krossedprophetone
- What are you doing about it meffid?domacle
- akrok0
yeah, 10k. you can pay off.
100/mo. = 10 years
200/mo. = 5 years
300/mo. 2.5 years
- sofakingbanned0
seriously 10k isn't shit, 100k ok maybe.
Pussy.
- shade0
bankruptcy. ch 7. feels great!
- lowimpakt0
i've only used a credit card three times in my life. don't own one now.
fuck that.
- that's great.akrok
- Good luck getting any type of loan, credit or mortgage.MarleyMarl
- Haha, Americans and their obsession with "credit rating". Your rules are a local scam, don't apply everywhere.raf
- I'm like lowimpakt - no credit cards or debt. No credit score either, because of it, but fuck that scam. Loyalty points is all.mikotondria3
- No credit card or one with a lower limit (like $1000) is ideal. Pay off the bill in full every month and it's all good.Jaline