Not paying off a credit card

[Blitz]

How many people on here paid spot cash for there 200k first home? Ah, you needed credit to aquire it.

Want a good insurance rate? Yep, need credit once again.

Cash is one way of buying things. Credit is another. You need both to get by. Nobody is saving up to pay spot cash for a house the old fashioned way. Especially if they are paying rent. You'll never get there. We pay cash for 99% of our things as well. But there is no way on God's green earth I could have purchased my home without credit. Some people don't have the income that will allow them to save up fast enough to do it.

For those of you who did pay cash for your home, was it your first home and how much. What was your unique circumstances?

My grandfather used to tell me growing up in the 80's, "you need credit at some point in life".

[manwitaplan]

Did epcot 25 ever post a second time? I got tired of reading.

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No. He is in the basement eating free cookies.


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[Snowflake Killa]

TTT for the cookie monster

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[Youngblood]

Legally the collectors can sue you to have wages garnished and accounts frozen. Like many others have said, the consequences shouldn’t be all that matters to you. Pay your debts and learn a lesson on getting behind on credit cards. Something you should consider is a balance transfer or short-term loan to avoid late fees and high interest rates.

It couldn't be more true then this.

In early 2019 My wife played this game and lost. In December 2019 they froze OUR account. I had nothing to do with HER credit cards but since she was tied to the account it was froze. She had no money in this bank account. Hadn't put anything in there in probably 10 years. I lost $1725 in Legal fees that came out first, then the rest went to HER credit card balance, ending bank account balance $0.00.

I learned after 35 years marriage that I needed my own bank account so that this would never happen to ME again. She on the other hand learned that SHE has to pay HER creditors or they will come after HER. Now if SHE doesn't pay SHE gets a free trip to jail and a DIVORCE. Game Over for HER!

Free advise for you with no disrespect. Pay your bills on time. If you don't have the money don't play. Noodle soup is cheap and grass is cheaper.

Good Luck!