Refuse to pay your credit card debt

Discuss anything related to interest rates & fees, like balance transfer offers, low rate cards, annual fees, etc.
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mike71857
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Refuse to pay your credit card debt

Postby mike71857 » Thu Sep 25, 2008 8:42 am

I think millions of Americans should refuse to pay their credit card debt with the deceptive interest rate hikes. Let the entire credit card industry collapse and get back to saving up cash to pay for things or do without like people did in the 1930s. This whole rotten, immoral consumer society deserves to die a sudden death. Get back to nature and living a more spiritual life. Live off the land or barter for goods and services with other people.


Floppster
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Postby Floppster » Tue Sep 30, 2008 7:05 pm

mike71857 wrote:I think millions of Americans should refuse to pay their credit card debt with the deceptive interest rate hikes. Let the entire credit card industry collapse and get back to saving up cash to pay for things or do without like people did in the 1930s. This whole rotten, immoral consumer society deserves to die a sudden death. Get back to nature and living a more spiritual life. Live off the land or barter for goods and services with other people.


Yeah I think that is a prefect idea. Everybody should go to a store and not pay his groceries. Nobody should work ..... and so on .....If people run themselves in debt I am not entirely certain if Credit Cards should be held liable for it. If you have to live above your means it is you fault and only yours.
Intellectuals solve problems. Geniuses prevent them.
- Albert Einstein 1879-1955

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alsteig
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Postby alsteig » Tue Jun 01, 2010 3:36 pm

100 bucks says mike71857 has big screen tv leased Escalade and 90k in cc debt. I'm sorry Mike can't pay the bills maybe you need to get more spiritual.

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Mogul of Pineapples
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Postby Mogul of Pineapples » Thu Jun 03, 2010 7:45 pm

I do sympathize to a degree with those that were victims of unscrupulous practices- like Chase going back on their word last year and changing "X% for life of balance transfer." But I think the NY attorney general took care of that.

For those that charge up in excess and then feel they don't have an obligation to pay it back is wrong. There is no plus without a minus. If one person flakes on paying their bill, that is taking away from others (lately we're seeing that in the form of higher interest rates for everyone because of so many defaults). It really bothers me when someone borrows money and feels they shouldn't have to pay it back- that is stealing. There may be exceptions like medical bills and other truly unforeseen catastrophic expenses, but usually it seems people get into credit card trouble because they were living above their means.
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fffresh
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Postby fffresh » Wed Jun 09, 2010 10:12 pm

At minimum paying the principal would be the right thing to do. A borrower is obligated to pay back and arguing otherwise is lying to oneself. If interest is unaffordable then a payment plan or other means of payment should be arranged.

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alsteig
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Postby alsteig » Thu Jun 10, 2010 11:43 pm

fffresh wrote:At minimum paying the principal would be the right thing to do. A borrower is obligated to pay back and arguing otherwise is lying to oneself. If interest is unaffordable then a payment plan or other means of payment should be arranged.


At minimum paying the principal, interest and fees would be the right thing to do. Why do some people get a free pass? It seems to me that people are quick to enjoy the points convenience and status of their cards, and to complain when their bank, cc, or underwriter gives them a raw deal. Why shouldn't the borrower pay back every cent. We need to bring back debtors prison.

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Postby Floppster » Sun Jun 20, 2010 10:35 pm

alsteig wrote:At minimum paying the principal, interest and fees would be the right thing to do. Why do some people get a free pass? It seems to me that people are quick to enjoy the points convenience and status of their cards, and to complain when their bank, cc, or underwriter gives them a raw deal. Why shouldn't the borrower pay back every cent. We need to bring back debtors prison.


Totally agree. I only disagree with the debtor prison since the prisons are already so full that more prisoners wouldn't do the tax payers any good but rather cost us all a lot. Make them do community work or something.
Intellectuals solve problems. Geniuses prevent them.
- Albert Einstein 1879-1955



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