charging up credit cards

[king ranch 5,000+ posts]

i had a question and was wondering wat exactly would happen if i charged up every card i have, with buying stuff on them, or getting cash advances and then after just calling the credit cards companys up and say sorry cant pay the bill dont have the money.

wat happens do they garnish your wages,lose your vehicle or house or wat will happen i understand credit will fall but just wondering because i can get about 70-80k worth of cash/product

thanks

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[duece212 5,000+ posts]

i had a question and was wondering wat exactly would happen if i charged up every card i have, with buying stuff on them, or getting cash advances and then after just calling the credit cards companys up and say sorry cant pay the bill dont have the money.
wat happens do they garnish your wages,lose your vehicle or house or wat will happen i understand credit will fall but just wondering because i can get about 70-80k worth of cash/product

thanks

Do it, report back your findings

 

[Flipx99 5,000+ posts]

It would wreck your credit...

 

[hoss 5,000+ posts]

you really are a stupid kid...

 

[jaredspl 10+ year member]

they send that shit to collections and bada bing bada boom you have nothing. plus your credit is shot.

 

[Flipx99 5,000+ posts]

Collections wouldn't actually get the stuff...they'd harass him but good luck getting anything.

 

[king ranch 5,000+ posts]

yea i know my credit would be ruined for about 7 years or so it was just a crazy idea i heard today, and was like i wonder wat would happen, but by no means am i gonna do it i just was wondering about it

 

[king ranch 5,000+ posts]

say if someone had 80k worth of cards and got cash advances on them and then defaulted on the cards what can the credit card company do nothing but ruin your credit basically, but think bout it if the economy gets worse who cares how good of credit u have no bank will loan any money to no one

 

[Flipx99 5,000+ posts]

say if someone had 80k worth of cards and got cash advances on them and then defaulted on the cards what can the credit card company do nothing but ruin your credit basically, but think bout it if the economy gets worse who cares how good of credit u have no bank will loan any money to no one

While the idea is more valid than other posters are giving you credit for, I don't think it will be worth it....

The ruined credit can keep you from jobs, make you pay higher insurance, etc. A person's credit rating is used for more than your interest rate.

 

[duece212 5,000+ posts]

say if someone had 80k worth of cards and got cash advances on them and then defaulted on the cards what can the credit card company do nothing but ruin your credit basically, but think bout it if the economy gets worse who cares how good of credit u have no bank will loan any money to no one

Some jobs do credit checks before hiring you....I still say you do it though

 

[xxBURT0Nxx 10+ year member]

say if someone had 80k worth of cards and got cash advances on them and then defaulted on the cards what can the credit card company do nothing but ruin your credit basically, but think bout it if the economy gets worse who cares how good of credit u have no bank will loan any money to no one

Dumbest thing I've ever heard.... I'm sure the economy is going to be in the sh**ter for the next 40 years
And if you owed that much money you better believe you will have collection agencies and probably legal problems. That can be considered theft. They can automatically deduct money from your paychecks, so unless you plan on living the rest of your life off of that 80k, then you will end up paying it back. Plus, you would be an absolute idiot to do that because if you could get 80k worth of credit, you probably have a relatively high score, and you would be throwing it down the shitter.

 

[Louisiana_CRX 5,000+ posts]

i've done that on several cards..i still get new cards and buy new vehicles all the time...they won't do anything but try to get you to pay it...it hasn't messed up my credit...at least enough that i worry about it....

 

[king ranch 5,000+ posts]

lol i aint gonna do it just a good idea for someone who is older and has a job they are gonna keep and never change insurance or anything that has to deal with their credit, and just get a free 50-100k however much they can get on credit cards, and then just default on them

and like i stated good credit wont matter if someone needs a loan if the economy is like it is right now, no bank wil give out loans, thats why right now the banks are like they are giving out loans to people who cant pay or wont pay on them, and bank of america is gonna be screwed pretty soon they were giving out credit cards to mexicans on visa's and they are gonna run the bill up and go back to mexico and they bank will be stuck with the bill

 

[WhoSayWho? 5,000+ posts]

Don't listen to these guys, King. The fact is that the CC companies can't do a thing.

Nayone who has been followiing the news knows that they can't even hurt your credit score anymore. If you have that much available credit you should use it fast before it is taken away.

 

[king ranch 5,000+ posts]

yea i tihnk i would consult my attorney before making any action such as i was talking bout, and dont plan on doing it anyway