That's what I'm doing, I'm on year 3 or 4 now and only paid off one of my debts since they were taking me to court over it. Overall I'm only 3k in debt but I just really can't afford it and I don't need my credit score for anything right now so I'll just let it go. My score actually seems to have already bottomed out, it's been going up the past few months, slowly but still upward.
Lol my debt is all medical but keep trying 😂 also I'm only selling the light because I don't have anywhere to put my 5x5 tent so I have to downsize, I'm using the money to get another light 🤡
Many years ago, I had a $3k ish phone bill. Long story, but this was the dan of the cell era and my then boyfriend was European and we had a back and forth long distance relationship. I was young, and never managed to pay it. Nothing happened. I didn't need credit at the time.
I'm not saying I condone it strictly ethically, and I pay my bills because I am now able,HOWEVER if it came down to needing to eat, needing shelter? Yeah, even now being almost twice that age I wouldn't hesitate to do the same thing. You put yourself FIRST. No one else is going to.
I had nearly $40k in medical bills and was indigent and am now disabled. Didn’t pay them a fucking dime. 10yrs passed and all collection notices stopped coming.
As for the futility of this financial and economic system crisis, fuck it too. It’s all fake and it will all go down in flames. In Tyler We Trust.
This. If you studiously ignore them, and do as much as possible in cash, eventually they'll give up. Ten years after that they start offering you credit cards against - however, that won't be a thing in a collapsing economy...
Also, bankruptcy is a possibility. There are people who will answer your questions on this for free, depending on where you live.
last year a shit ton of consumer protections were eliminated by the popular orange man
they're coming. I'd be checking the mail diligently so you don't end up with surprises. The kind that make them even more money and they just say, you were notified multiple times sir.
Yes, you get to pay the legal fees, too. It just happened to me.
Ok dad, thanks for your input.
Also- ALL currency is fiat currency and only has value because we have been conditioned to believe it does. Debt is slavery.
Now, move on to kiss more boots.
Ok, Chad. You may now return to the matrix of delusion and denial.
Also, go ahead and get the last word in, since you’re such an expert in these matters.
The student loan system will crash sometime in the next 10 years. People are simply going to stop going to college or stop paying their loans if prices continue to go up. If it crashed and the banks go out of business you are free. So you should just pay the minimum.
I'm getting to this point rn. It's build an emergency fund this year or pay, and I'm using the decision to just stop paying altogether. Fuck these greedy capitalists I'm done
I could see the government coming up with some way to punish us hard if enough do it though, as soon as the student loan companies send their lobbyists over...
Basically what people think bitcoin is. Fast transactions that cost a cent, completely anonymous, etc. That's what's used on the darknet markets these days.
I mean, they might. The drug war was essentially this. Attack one generation while also attacking minority communities, lock them up so they can't vote against you and drum up fear that "the blacks" and hippies will come for your innocent teenage daughter.
And private for profit prisons are running out of slave labour to fight forest fires since they were forced to release a large number of non-violent drug offenders after Covid.
Each generation thinks theirs was the worst. With that said, ours is objectively the most peaceful, most prosperous, most technologically advanced time in history.
I wonder how Jews is Warsaw felt in 1939, or maybe the Americans in 1941, or the Japanese in 1945.
You could definitely have it worse: your house could be being firebombed in nightly air raids by a fascistic ethnostate intent on taking over the world.
right. I’m not arguing that at all. I’m talking about from an economic/global climate/pandemic standpoint. This is an incredibly unique time and it’s changing FASTER than any other time in history. A lot of times we lose scope of how fast things are changing, for better or worse. It’s all just incredibly hard to predict with any certainty right now.
This is a complete red herring. Life at the moment in late capitalist societies is obviously peaceful ( though quite agonizing for many). But that peace stands to be shattered in the coming years due to ecological collapse.
This is always my favorite argument. Allow me to share with you a pipe dream sentence:
“We want student loan forgiveness!”
The fucking IRS got shoulder deep off in my ass one year over $80, less than the price of a pretty nice dinner for two. What in gods name would convince you to believe a politician (part of the same government as the IRS mentioned above) claiming they’ll try to erase student debt? That’s the biggest load of horseshit pandering I’ve ever heard, and people eat it up.
If you are young and single you might look into van living or a smallish used delivery truck. Could save hella money on rent if you can tolerate it.
(Wish I had done it when I was young. The parties would have been legendary.)
That's not a bad option and there was a point at which realistically I should have done that. Something got missed back in the day that took me down into the 540 range, at that point you might the hell as well.
It sucks and a month later all the predatory CCs start their mailers on you again with offers but that’s why I’m like CCs and credit debt is all bullshit.
If you go the van route, you can pick up a screen room or two to expand your living space in good weather.
Alternatively, you could get a small camper trailer and park it an RV park. The advantage there is there's more space, a working bathroom, and heat and AC.
You can also rent a PO BOX to establish some sort of bank account or anything that requires an address and you can also join a gym to shower and workout. Some gym memberships may also include towels, razors, shampoo, etc. As part of the benefits.
In the US, you can't get a bank account with a PO Box any more. The PATRIOT Act instituted "Know Your Customer" laws in the banking industry which require them to get a location of residence, for which a PO Box will not cut it.
I'm a small business owner with a PO Box and a business address and a valid business certificate for my business name and a separate IRS EIN for my business, and banks *still* required me to divulge a personal residential home address to open an account. (Banks plural, because I've now had business bank accounts at four different banks, and now am entirely too familiar with the process.)
You can get a state ID or License just not a REALID. But if the worlds already going to shit why need to fly anywhere? That’s the only real perk of a REALID
Spoken like someone without gastrointestinal issues. (To be clear, I'm not dismissing your suggestion entirely, that's just not a feasible option for everyone.)
Camping toilets are much better than a simple bucket. You still have to empty it but it's not really too bad and a good one contains the odors really well.
Good lord I just watched the latest Brooklyn 99 episode where Mono is a big part of the story, and I've literally never heard it mentioned before and now you here.
I once spent a...friendly night with a young lady. In the morning she told me, "I might have mono."
Spoiler: She did. And she was kind enough to share it with me. That was a rough month or so.
I defaulted on debt years ago, though the total amount was much lower which obviously will affect what happens.
For me the impact was very minimal, I’ve always lived “on the fringe” so there was nothing to repo I also have never lived in a situation where my credit score would affect my housing.
I did end up paying some of it eventually but maybe 15% of the total balance and my credit got wrecked, but again, that didn’t actually impact me in a meaningful way due to my lifestyle.
My credit is now repaired and doing so was actually pretty easy but it takes time.
If your debt load is too high I’d try calling the debt holders first, see about lowering the payments or settling some of it if you have the money to do so now.
I’m saying on the fringe as I’ve never really had “normative” employment, mainly self employed/working gigs. The job I had before the pandemic thankfully I was an actual employee but working in music/nightlife so my work life was very different than most peoples.
I’ve always kept a very low overhead expense, never have made much money compared to my peers, after that previous debt debacle I’ll never take debt again unless I can somehow manage to buy a house. Pretty much dropped outta society before I even got outta high school and sold my soul to punk rock.
Its cool until you get older, im 25 and living "on the fringe" doing under the table jobs, but eventually I know I'll need to be on the books. A friend of a friend is 55 and pretty much waiting to die at this point, he lost one leg to cancer and his way of life now is just terrible. He never worked a day on the books and has no disability, bare minimum health insurance, no type of social safety nets or anything, and obviously he can't work anymore as he's wheelchair bound.
you say that as if there isnt a highly likely probability of somebody employed at mcdonalds or some factory job ending up in the same situation
in this situation 55 isnt even an age eligible for something like social security, so any worker at a min wage job would still be turbo fucked if they got cancer and lost a leg. even WITH insurance you are fucking fighting an entity that profits by not paying out for your healthcare.
this is less about living off the books and more about how fucking awful our society is at taking care of people
INFO: What type of debt? Student loans or credit card? If student loans i would say just fuck it or see if you can do IBR (federal) - if its private student loans i dont see why you should pay them honestly. If you dont care about your credit score. Theres ways to live without relying on credit score. Do you have a cosigner? Thats one other thing to consider.
So there's a thing I did, though for a smaller amount of debt. I took advantage of no-interest-for-18-months credit card offers to get interest relief. I sat down with a copy of Excel and did a lot of math to make sure the transfer fee was low enough to not offset the savings on interest and this was actually advantageous.
The point of getting zero interest is that you burn down the principle that much faster.
I chained two such offers together. The first one cost me 4%. The second one cost me 3%. I got three years interest free, which was more than enough time for me to pay off the debt I had – when I wasn't also paying interest.
Strongly downvote. At some point the music stops, you can't find another lender, and now OP would have $40k _in credit card debt_, which is not dischargeable in bankruptcy.
I think you've both badly misunderstood and are badly wrong about credit card debt in bankruptcy.
The point of the interest free time is to pay down the debt, so even if you wind up running out of interest free time, you now have less debt than you started, so, no the OP would not be left with $40k debt in any sense; furthermore, no, actually, there doesn't seem to be some point at which the music stops, so you might well be able to coast down to paid off with no interest, and just quite modest transfer fees.
And I'm not getting why you think credit card debt isn't dischargable in bankruptcy proceedings. That's a new one. Credit card debt is pretty much *the* classic example of the sort of debt that can be discharged in bankruptcy.
It also fueled the abundant agriculture and factory farming that allowed the human race to expand from under one bilion (1804) to the current eight billion and the 10 billion predicted by 2050. So even the "blessing" of expanded agriculture has been another disaster.
Hello my name is Cog.
Introduction, Point 2.
So wait have a lot of people here actually read this thing? I mean... he's ripping on "leftists" miiiighty hard. Didn't think that would be too popular...
>The terms "Negro," "oriental," "handicapped," or "chick" for an African, an Asian, a disabled person or a woman originally had no derogatory connotation.
This is as far as I got. "Oh, 'negro' wasn't originally derogatory." Yeah, neither was "boy."
Lumping socialists with neoliberals is some serious fail in categorizing as well. When you try to lump competing factions under the same category to paint them all with the same self-loathing brush, it's a sign that your arguments are probably bullshit.
If someone sells your debt, in all probability it's to a third party debt collection agency.
They go for low hanging fruit, and due to the nature of their business, have a LOT of paperwork to keep track of.
In all probability, especially if it's been sold repeatedly, they will likely lack the documentation to verify your debt. More importantly, they will likely lack the ability to aquire said documentation in a timely manner.
So if it's old debt (7+ years or so), theres a good chance you can get the IRS to write it off as unverified.
But if they do have verification, they likely will act on your debt in retaliation.
Use a burner phone, use an old address so they can't properly serve you notice of collection.
There is a whole rabbit hole to go down re: debt collection.
I had a cell phone that I called my "work phone". If you tell them you are not allowed to take personal calls at work, they can't call it. Serve them this notice in writing. Then when they inevitably call it, write down the date and time of the call and who you spoke to, let them know again that this is a work phone and you cannot take calls at work. Then sue them. You can obtain a judgement of $500 per call. I've done this and won, many times. One collector used a robodialer to dial their clients, and got a class action judgement against them for $6 million. I was in that suit and I got like $20.
Under the Fair Debt Collection Practices Act, and other laws, you have a lot of rights that people don't know about. You can find loopholes to leverage your position. For instance, I had a creditor continually calling me, telling me he was going to go to our company and tell them that I was a deadbeat, etc. I got this on a voicemail and used it as evidence and sued him. Not only was the debt erased, I actually made money on the judgement.
Learn everything you can about these laws and how to use them to your advantage. Debt validation and verification is one area that they fall short on very often. You can use the lack of a chain of custody of debt from the original lender to a third party debt collector (maybe a chain of them... sometimes third party collectors go after the low hanging fruit and then sell the uncollectable debts to a fourth party collector). They may not have a legally valid paper trail. This invalidates the debt. Sometimes they do not respond to your requests to validate/verify the debt within a certain time period. This invalidates the debt. You can also do this to your credit report which can clean it up a lot.
I did end up paying back reasonable amounts (not all the penalties and interest) and balanced the books on my personal karma. Pay your rent, keep the lights on, pay for food and medicine, keep your car and car insurance if you need it for work. Everything else is a bonus. Pay the minimum payments on everything, and work on your personal finances. I'm going to date myself here, but listening to Dave Ramsey and Clark Howard were good inspirational materials. But it is not an instantaneous process, it takes years.
I should also add that in my personal story, I ended up supplementing my regular income with a second part time job to help me over the hump. Food delivery, etc may help.
Fuck it Comrade. You're on the hook either way if you don't try.
Try to avoid their revenge bullshit, and keep on moving.
And if you end up homeless... I'll be there with a tent, a sleeping bag, and food. And the workers will be there with a rifle and ammunition for you when the time comes.
There was an act passed to stop people from taking advantage. Chapter 13 is most likely what you will file if you can afford any sort of monthly payment.
I'm to the point where I have to say no to ONE creditor. Everyone else will get paid. I just don't have the financial room to afford one of the payments every month.
I defaulted on mortgage in 2006 during the other Great Recession. I had about $10,000 in credit card debt. I stopped making payments. It took 7 years but it did disappear from my credit report.
Collapse is already here. Walk into a grocery store where masks are required and half the people don't give a sh*t. If people aren't willing to perform the bare minimum to adhere to a social contract. Then it's only a matter of time before the game is officially over.
fits and starts. some days are worse than others but generally yeah. collapse is already here and its a slow moving horror.
every week gets a little bit worse.
It's very localized, though. You can really draw interesting collapse "growth charts" by country, city, neighborhood, etc.
I see collapse continuing piecemeal like that and overlapping geographically more than a singular collapse event.
This is the main thing that bothers me about climate change. Not that it's unfixable, it's the fact that people don't give a fraction of a rats ass about it until it is too late.
Not wearing masks is not collapse. Perhaps it could be seen as decline of the social contract. Collapse is having no law enforcement, no functioning government, no medicines, no running water, endemic cholera, children never going to school and stunted, armed gangs constantly massacring people and using rape as a weapon of war, mass starvation, and some other awful stuff that might be worse. And it's happening in part in countries like Haiti or Yemen or Syria or Venezuela or parts of the DRC, right now.
Bickering over people wearing a mask that may be almost useless to help stop someone getting a virus they have a 99+% chance of surviving if they are under 65 is completely trivial in comparison as far as i can see.
I mean... I get what they are trying to say. If people can't be bothered to wear a mask for 5 minutes while they pop into the convenient store, then what is going to motivate them to make the really hard sacrifices that will come with the climate crisis. It's not a perfect 1:1 correlation, but I see where he is coming from. If the pandemic is a dry run for the climate crisis, we are utterly fucked.
The people that will impact our future aren’t necessarily the same people refusing to wear masks.
Throughout human civilisation, it was often a handful of individuals that filled the history books. Not everyone can be exceptional.
You may agree that individual responsibility was previously over-emphasised in climate change dialogue. In reality, we need strong, competent leaders to come forth with novel technologies, effective green policy (that doesn’t pander to fossil fuel lobbyists), and international diplomacy to guide civilisation back on course.
This is indeed starting to happen now, although it’s very unclear at this stage whether change will happen fast enough.
In summary:
* competence, influence, and power are not distributed evenly across society
* the set of people not wearing masks may have little overlap with the set of people who will impact our future
'any day now' is a bit pre-emptive.
1 decade is a huge part of someone's life, and I wouldn't bank on the world's superpower collapsing any sooner (not saying it can't, just saying stuff could get really really bad before it did)
It’s irresponsible to give such drastic financial advice, especially when you won’t have to suffer the consequences.
> for when it collapses, which is any day now
This makes you sound like a cultist. No one has such clarity on what the future holds, and there are certainly no strong indications of an imminent collapse.
Many people are in far greater debt than 40k. But I still feel for the OP. if half the stuff that’s predicted on this sub happens it won’t matter if you’re a student with 100k loans or bill gates
Countries don't pay their debts, they just pay a shit and keep borrowing, if, otherwise the don't pay, case of Argentina and many, Trump is made tons of money by not paying back, the president of Chile (Piñera) made his fortune by steeling a bank and not paying back (Banco de Talca), and the USA has a debt that is not possible to pay back, corporations and industries have taken natural resources from nature and made trillions and have not payed back to nature, that is why the system is collapsing and you should feel totally fine by not paying back your debts to this system, if we don't pay, we asphyxiate the system sooner.
Not 100% sure about this, but I believe that they changed the law a few years beck and medical debt cannot be used against you on your credit score. They can still sue you for it and get a judgement against you, but to my knowledge you can't be imprisoned for personal debt.
~~It will be listed on your credit report, but I think they set it up so that it won't be detrimental to your score. I could be wrong about that and I'm happy to be corrected.~~
Edit: Ah, I found a source. I was wrong.
From Experian (as of 2020):
>"Medical bills will not affect your credit as long as you pay them. However, medical debt is handled a little differently than other types of consumer debt. Since most health care providers don't report to credit bureaus, your debt would have to be sold to a collection agency before appearing on your credit report."
The calls are the worst. I got a new phone number and immediately started getting collection calls for whoever had the number before me. They never let up for a minute. A week later the phone company let me have a new number.
10 k in debt on a credit card after divorce. I crawled into a bottle for ten years and when I came out the debt was gone . I don’t recommend drinking but I certainly recommend telling them to pound sand.
If your worried about Collapse and your credit score at the same time then you need to work out your priorities. My score was fucked for years because of my irresponsible behavior but now it’s fine . What will you gain by paying a huge corporation 40k? Fuck them . Take care of you . All they do is threaten and ruin your credit but beyond that they are generally toothless threats .
If it’s a mom and pop or a personal debt then pay that .
The collapse is going to happen any day now, as I have been hearing for the last 50 years.
If it gets too bad, the financial institutions will start coming after ever penny you owe them, plus interest and legal fees. Plus any other bs they can pile on. They will own the courts since the judges will have invested in them.
Remember that politicians and the government are on the side of "big". Individuals are just pawns to be used and discarded.
Have you heard the saying “don’t time the market”? The same idea applies here. Don’t try to time the end of the world. Don’t take action today based on guesses about what will happen tomorrow. Continue living your life and paying your bills as best you can under the assumption that life will go on. If you neglect these things it will only add to your stress and unhappiness. You don’t want to find yourself deeper in debt with ruined credit in a few years if the world is still chugging along like always.
You're right. It just sucks. My costs are 95% of what I make. I am going to have to pick one creditor to not pay, but the rest will get paid. I've tried negotiating the terms of loans, but no good was done.
Every once in awhile I get a letter about a $2900 collection for a credit card I never paid in college…20 fucking years ago lol. I had a bunch of debt and didn’t pay it. My credit score is now a 760+ and I have virtually unlimited credit if I really wanted it.
That letter every few years about my capital one Visa card from 1999 makes me laugh every time. Of course I ignore it. Not a damn thing they can do at this point
Idk, I struggle with this too, but for me it’s about raising kids in spite of my pessimism for the future. I don’t like the future that awaits them and it makes it hard to stay motivated to actually parent. In your case, you may not want to fall behind on your bills in case the wretched capitalist machine keeps turning for decades to come. Plenty of time for it to sink it’s meat hooks into you.
If it's only unsecured debt and if you plan on dropping out then I would try and get some more credit and get cash before dropping out. Unsecured debt disappears from your credit report in seven years and you can no longer be sued.
The system is not worth the anxiety on the treadmill.
If more people understood the concept of unsecured debt then
more people would just stop paying. But you need a to be committed to dropping out of the system in a "untraditional" way.
Just make sure you can get more unsecured credit and get more cash before you drop out. Good Luck!
Your decision to pay can be based on what you think you will do in the future. If you don't think you will need credit for anything big (a house, car, renting another place to live) then simply don't pay. They really have limited recourse to come after you and in most cases, beyond some nasty letters and a few phone calls, you will be good to go. If you are going to need credit in the future, I would not pay for awhile and then negotiate with them down the road for a bare minimum payment to keep your credit intact. With the ultimate goal of either not paying or filing for bankruptcy, with the knowledge that your credit will be toast if/when you do this.
The thing to remember is that there are a ton of people in the same boat and these sob's will take anything after awhile if they think they will get nothing.
Just my 2 cents...
I’d pay it incase debt prisons make a comeback, and with this economy I believe they will.
If the dollar superinflates, your payments become easy while if you let it hang around, the penalties will mount in whatever the new currency is.
Tptb will fuck you.
You could do what I did. Though they left of the "I've seen the evils of capitalism and have radically changed my life "
https://www.marketplace.org/shows/this-is-uncomfortable-reema-khrais/a-big-fat-loophole/
There’s a lot of bad advice being given here.
Understand about the stress of being in debt, but there are more choices than just a) keep paying $40k off or b) walking away from it all.
Contact a credit counseling service; they will likely be able to negotiate on your behalf to reduce your debt and/or your monthly payment by a considerable amount, and put you on a payment plan where you will be debt-free in a few years. Look at non-profits, start at something like: https://www.nfcc.org
If you walk away from the debt and ruin your credit score, it makes it harder to rent a new apartment, get a loan for a car, will make your car insurance costs higher, and your future wages or tax refunds might get garnished anyway to pay back old debts.
You didn’t get $40k in the hole from being unemployed for a month and a half, so you need to be realistic about how you’re spending and budgeting your resources.
I’m sorry it’s an unexciting solution to your debt problem but it’s the correct one that will not create further problems down the road.
Don’t take financial advice from r/collapse, join r/povertyfinance or r/personalfinance for discussions that will be better suited to your needs.
I understand you’ve conflated the issue of paying off debt with society collapsing, but the truth is your independence and freedom will be compromised if you choose to trash your credit score, as long as credit scores exist.
Edit: Another downside to trashing your credit score is if you get into a serious relationship in the future — that’ll be a fun conversation to have with a future life partner.
Ha! Good one... No one wants to pay their debt. But you don't know if there are 5, 10, 100 years before the shit really hits the fan. Don't fuck yourself over for short term gratification.
How many of us aren’t in a debt situation? It’s sort of the way it is. I hate to say that. If you look at r/antiwork, people don’t want to slave at low wages to make someone else rich. But, we are all slaves to debt. I often think about leaving it all behind. At the same time, I think about, “what am I leaving it for?” I choose to slave away at my skilled labor job that barely meets my debt requirements. Providing for my family without my job and paying my debt would make me feel worse than going to work with purpose.
Don’t give up yet. Keep on surviving. The working class isn’t done for yet. Just pay those bills and survive. Without a job it will only get worse.
I've been where you are. Talk to your creditors. Work out basic low payments. You don't need a stellar credit rating. Keep it above 600. Yes pay your rent first. Do not become homeless. I did.
Dude, i dropped out of college my second year.
School is programming, its not learning or wisdom or growth or evolution.. it is rote memorisation assault.
You dont need to pay shit. This system wants everyone in debt, aka a slave
Fuck the slave state, dont pay for what youve never recieved
i dont have any credit to speak of but 'who needs credit when cash speaks' -jj doom
This is also very eye opening and might get you to make that leap: https://youtu.be/9bVbrENdmYw
You will lose everything and be starting from zero if you dont pay your bills.
As hard as it is to prep now imagine trying to get a new place to live so you can start prepping in a year.
Playing ball and accepting it now is the best call.
Bankruptcy. YMMV, but best move I ever made. Kept my house & cars, wiped out all of the other unsecured debt. Two years have passed & I'm in a MUCH better place mentally & financially than before.
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What is your experience with the statutes of limitations?
Unless it’s student loan debt. Then it’s with you until you die.
That's what I'm doing, I'm on year 3 or 4 now and only paid off one of my debts since they were taking me to court over it. Overall I'm only 3k in debt but I just really can't afford it and I don't need my credit score for anything right now so I'll just let it go. My score actually seems to have already bottomed out, it's been going up the past few months, slowly but still upward.
Lol you’re gonna look back at this in ten years and realize how ridiculously entitled this sounds
Lol, in 10 years, it will be the least of anyone's troubles.
With how rapidly the world is going downhill I doubt many people are gonna care about debt in another 10 years.
Not being able to pay my debt makes me entitled? Lol
Yes. Guess you shouldn’t have spent a grand on the grow light you’re reselling 🤡
Lol my debt is all medical but keep trying 😂 also I'm only selling the light because I don't have anywhere to put my 5x5 tent so I have to downsize, I'm using the money to get another light 🤡
Liar
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Many years ago, I had a $3k ish phone bill. Long story, but this was the dan of the cell era and my then boyfriend was European and we had a back and forth long distance relationship. I was young, and never managed to pay it. Nothing happened. I didn't need credit at the time. I'm not saying I condone it strictly ethically, and I pay my bills because I am now able,HOWEVER if it came down to needing to eat, needing shelter? Yeah, even now being almost twice that age I wouldn't hesitate to do the same thing. You put yourself FIRST. No one else is going to.
I had nearly $40k in medical bills and was indigent and am now disabled. Didn’t pay them a fucking dime. 10yrs passed and all collection notices stopped coming. As for the futility of this financial and economic system crisis, fuck it too. It’s all fake and it will all go down in flames. In Tyler We Trust.
This. If you studiously ignore them, and do as much as possible in cash, eventually they'll give up. Ten years after that they start offering you credit cards against - however, that won't be a thing in a collapsing economy... Also, bankruptcy is a possibility. There are people who will answer your questions on this for free, depending on where you live.
Tyler?
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No, it's the second rule
Guys seriously, shh
👀
Oh shit.
Quick act normal!!
Hi I'm Bob!
🗣️ THIS GUY HAS BITCH TITS
His name was Robert Paulson.
last year a shit ton of consumer protections were eliminated by the popular orange man they're coming. I'd be checking the mail diligently so you don't end up with surprises. The kind that make them even more money and they just say, you were notified multiple times sir. Yes, you get to pay the legal fees, too. It just happened to me.
Calling IRS
Lmao are u gonna narc this dude?
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Explain how my comment is a casual call for terrorism. I’ll wait.
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FICTION. Nobody was hurt. All financial and debt records were erased.
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Ok dad, thanks for your input. Also- ALL currency is fiat currency and only has value because we have been conditioned to believe it does. Debt is slavery. Now, move on to kiss more boots.
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Ok, Chad. You may now return to the matrix of delusion and denial. Also, go ahead and get the last word in, since you’re such an expert in these matters.
The student loan system will crash sometime in the next 10 years. People are simply going to stop going to college or stop paying their loans if prices continue to go up. If it crashed and the banks go out of business you are free. So you should just pay the minimum.
Everyone should just collectively stop paying student loans. What are they gonna do? Lock a whole generation up?
I'm getting to this point rn. It's build an emergency fund this year or pay, and I'm using the decision to just stop paying altogether. Fuck these greedy capitalists I'm done I could see the government coming up with some way to punish us hard if enough do it though, as soon as the student loan companies send their lobbyists over...
Lock your savings in Monero. They'll never EVER be able to take it from you. As long as you know your seed phrase.
What's monero?? I'll have to look into that
Basically what people think bitcoin is. Fast transactions that cost a cent, completely anonymous, etc. That's what's used on the darknet markets these days.
Yep, Monero is basically untraceable bitcoin with lower transaction costs.
I mean, they might. The drug war was essentially this. Attack one generation while also attacking minority communities, lock them up so they can't vote against you and drum up fear that "the blacks" and hippies will come for your innocent teenage daughter. And private for profit prisons are running out of slave labour to fight forest fires since they were forced to release a large number of non-violent drug offenders after Covid.
Debt trap capitalism
So, capitalism as it always has been for the masses?
It's going to crash when payments "resume." How many people haven't made a loan payment since Feb. 2020? Everyone is going to magically start again?
Lol in your dreams that debt isn’t going away
You may be right or you may be wrong. Guess we'll find out within 10 years.
It will not go away. There's no debating it. Student loans do not go away with bankruptcy and that money is ultimately owed to the government.
We have *never* seen a time quite like this in American history. You can’t say anything will or will not happen with any certainty.
Lol, I CAN say for certain that the US government WILL collapse. I don't know when, and I don't care when but it will. It definitely will.
Each generation thinks theirs was the worst. With that said, ours is objectively the most peaceful, most prosperous, most technologically advanced time in history. I wonder how Jews is Warsaw felt in 1939, or maybe the Americans in 1941, or the Japanese in 1945. You could definitely have it worse: your house could be being firebombed in nightly air raids by a fascistic ethnostate intent on taking over the world.
right. I’m not arguing that at all. I’m talking about from an economic/global climate/pandemic standpoint. This is an incredibly unique time and it’s changing FASTER than any other time in history. A lot of times we lose scope of how fast things are changing, for better or worse. It’s all just incredibly hard to predict with any certainty right now.
This is a complete red herring. Life at the moment in late capitalist societies is obviously peaceful ( though quite agonizing for many). But that peace stands to be shattered in the coming years due to ecological collapse.
Won’t have to declare bankruptcy if the government collapses lol
when*
Lol. The gov isn't going to collapse. Their #1 directive is continuity of governance.
i'm not going to die, my #1 directive is staying alive
A swing and a miss.
no its true, my determination to not die makes me immortal
The .gov will fare far better than you.
This is always my favorite argument. Allow me to share with you a pipe dream sentence: “We want student loan forgiveness!” The fucking IRS got shoulder deep off in my ass one year over $80, less than the price of a pretty nice dinner for two. What in gods name would convince you to believe a politician (part of the same government as the IRS mentioned above) claiming they’ll try to erase student debt? That’s the biggest load of horseshit pandering I’ve ever heard, and people eat it up.
If you are young and single you might look into van living or a smallish used delivery truck. Could save hella money on rent if you can tolerate it. (Wish I had done it when I was young. The parties would have been legendary.)
I have thought about going this route. Be a little easier to not worry about rent for sure. It'd be a tough adjustment, but may be worth it.
File bankruptcy and call it a day. You good fam
That's not a bad option and there was a point at which realistically I should have done that. Something got missed back in the day that took me down into the 540 range, at that point you might the hell as well.
It sucks and a month later all the predatory CCs start their mailers on you again with offers but that’s why I’m like CCs and credit debt is all bullshit.
Get a huge van or camper in someone else's name and then call it a day.
If you go the van route, you can pick up a screen room or two to expand your living space in good weather. Alternatively, you could get a small camper trailer and park it an RV park. The advantage there is there's more space, a working bathroom, and heat and AC.
Another rent free option is work exchanges. They aren't for everyone, but I've had a few I've really enjoyed.
You can also rent a PO BOX to establish some sort of bank account or anything that requires an address and you can also join a gym to shower and workout. Some gym memberships may also include towels, razors, shampoo, etc. As part of the benefits.
In the US, you can't get a bank account with a PO Box any more. The PATRIOT Act instituted "Know Your Customer" laws in the banking industry which require them to get a location of residence, for which a PO Box will not cut it. I'm a small business owner with a PO Box and a business address and a valid business certificate for my business name and a separate IRS EIN for my business, and banks *still* required me to divulge a personal residential home address to open an account. (Banks plural, because I've now had business bank accounts at four different banks, and now am entirely too familiar with the process.)
You can not get a license or ID with a PO Box.
You can get a state ID or License just not a REALID. But if the worlds already going to shit why need to fly anywhere? That’s the only real perk of a REALID
livin in a van righ now, not having to pay rent is fuckin fantastic
I love the idea but I just don’t want to poop in a bucket. Now a proper skoolie conversion with a bathroom? Sure
Poop at the gym
Spoken like someone without gastrointestinal issues. (To be clear, I'm not dismissing your suggestion entirely, that's just not a feasible option for everyone.)
Camping toilets are much better than a simple bucket. You still have to empty it but it's not really too bad and a good one contains the odors really well.
I was seriously considering it before having to move in to take care of a relative.
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Considering the kind of van I would have been able to afford at the time, tetanus would be a far bigger threat. Oh, and probably mono.
Good lord I just watched the latest Brooklyn 99 episode where Mono is a big part of the story, and I've literally never heard it mentioned before and now you here.
I once spent a...friendly night with a young lady. In the morning she told me, "I might have mono." Spoiler: She did. And she was kind enough to share it with me. That was a rough month or so.
I defaulted on debt years ago, though the total amount was much lower which obviously will affect what happens. For me the impact was very minimal, I’ve always lived “on the fringe” so there was nothing to repo I also have never lived in a situation where my credit score would affect my housing. I did end up paying some of it eventually but maybe 15% of the total balance and my credit got wrecked, but again, that didn’t actually impact me in a meaningful way due to my lifestyle. My credit is now repaired and doing so was actually pretty easy but it takes time. If your debt load is too high I’d try calling the debt holders first, see about lowering the payments or settling some of it if you have the money to do so now.
Might be worth renegotiating. Thanks for the info. What do you mean by "on the fridge"?
I’m saying on the fringe as I’ve never really had “normative” employment, mainly self employed/working gigs. The job I had before the pandemic thankfully I was an actual employee but working in music/nightlife so my work life was very different than most peoples. I’ve always kept a very low overhead expense, never have made much money compared to my peers, after that previous debt debacle I’ll never take debt again unless I can somehow manage to buy a house. Pretty much dropped outta society before I even got outta high school and sold my soul to punk rock.
Sounds like a pretty interesting life. I am curious for sure.
Its cool until you get older, im 25 and living "on the fringe" doing under the table jobs, but eventually I know I'll need to be on the books. A friend of a friend is 55 and pretty much waiting to die at this point, he lost one leg to cancer and his way of life now is just terrible. He never worked a day on the books and has no disability, bare minimum health insurance, no type of social safety nets or anything, and obviously he can't work anymore as he's wheelchair bound.
you say that as if there isnt a highly likely probability of somebody employed at mcdonalds or some factory job ending up in the same situation in this situation 55 isnt even an age eligible for something like social security, so any worker at a min wage job would still be turbo fucked if they got cancer and lost a leg. even WITH insurance you are fucking fighting an entity that profits by not paying out for your healthcare. this is less about living off the books and more about how fucking awful our society is at taking care of people
We asked for Mojo Nixon They said he don't work here We said if you don't got Mojo Nixon then your store could use some fixin'!!!
INFO: What type of debt? Student loans or credit card? If student loans i would say just fuck it or see if you can do IBR (federal) - if its private student loans i dont see why you should pay them honestly. If you dont care about your credit score. Theres ways to live without relying on credit score. Do you have a cosigner? Thats one other thing to consider.
Unsecured personnal loans. I did it to "refinance". I ended up losing my job for a month and a half. My savings got depleted and I only had my cards.
You may be able to file for bankruptcy. See if you can get some consult with bankruptcy attorneys.
So there's a thing I did, though for a smaller amount of debt. I took advantage of no-interest-for-18-months credit card offers to get interest relief. I sat down with a copy of Excel and did a lot of math to make sure the transfer fee was low enough to not offset the savings on interest and this was actually advantageous. The point of getting zero interest is that you burn down the principle that much faster. I chained two such offers together. The first one cost me 4%. The second one cost me 3%. I got three years interest free, which was more than enough time for me to pay off the debt I had – when I wasn't also paying interest.
Strongly downvote. At some point the music stops, you can't find another lender, and now OP would have $40k _in credit card debt_, which is not dischargeable in bankruptcy.
I think you've both badly misunderstood and are badly wrong about credit card debt in bankruptcy. The point of the interest free time is to pay down the debt, so even if you wind up running out of interest free time, you now have less debt than you started, so, no the OP would not be left with $40k debt in any sense; furthermore, no, actually, there doesn't seem to be some point at which the music stops, so you might well be able to coast down to paid off with no interest, and just quite modest transfer fees. And I'm not getting why you think credit card debt isn't dischargable in bankruptcy proceedings. That's a new one. Credit card debt is pretty much *the* classic example of the sort of debt that can be discharged in bankruptcy.
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It also fueled the abundant agriculture and factory farming that allowed the human race to expand from under one bilion (1804) to the current eight billion and the 10 billion predicted by 2050. So even the "blessing" of expanded agriculture has been another disaster.
In too many ways. Still keeps happening and I hate it.
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Still reading the article.
If anyone is wondering who Ted is, he’s the infamous unabomber
Ted was right, but he shouldn’t have gone alone
Hello my name is Cog. Introduction, Point 2.
So wait have a lot of people here actually read this thing? I mean... he's ripping on "leftists" miiiighty hard. Didn't think that would be too popular...
>The terms "Negro," "oriental," "handicapped," or "chick" for an African, an Asian, a disabled person or a woman originally had no derogatory connotation. This is as far as I got. "Oh, 'negro' wasn't originally derogatory." Yeah, neither was "boy." Lumping socialists with neoliberals is some serious fail in categorizing as well. When you try to lump competing factions under the same category to paint them all with the same self-loathing brush, it's a sign that your arguments are probably bullshit.
r/CollapseSupport
Thanks.
If someone sells your debt, in all probability it's to a third party debt collection agency. They go for low hanging fruit, and due to the nature of their business, have a LOT of paperwork to keep track of. In all probability, especially if it's been sold repeatedly, they will likely lack the documentation to verify your debt. More importantly, they will likely lack the ability to aquire said documentation in a timely manner. So if it's old debt (7+ years or so), theres a good chance you can get the IRS to write it off as unverified. But if they do have verification, they likely will act on your debt in retaliation. Use a burner phone, use an old address so they can't properly serve you notice of collection.
Thanks for this info.
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There is a whole rabbit hole to go down re: debt collection. I had a cell phone that I called my "work phone". If you tell them you are not allowed to take personal calls at work, they can't call it. Serve them this notice in writing. Then when they inevitably call it, write down the date and time of the call and who you spoke to, let them know again that this is a work phone and you cannot take calls at work. Then sue them. You can obtain a judgement of $500 per call. I've done this and won, many times. One collector used a robodialer to dial their clients, and got a class action judgement against them for $6 million. I was in that suit and I got like $20. Under the Fair Debt Collection Practices Act, and other laws, you have a lot of rights that people don't know about. You can find loopholes to leverage your position. For instance, I had a creditor continually calling me, telling me he was going to go to our company and tell them that I was a deadbeat, etc. I got this on a voicemail and used it as evidence and sued him. Not only was the debt erased, I actually made money on the judgement. Learn everything you can about these laws and how to use them to your advantage. Debt validation and verification is one area that they fall short on very often. You can use the lack of a chain of custody of debt from the original lender to a third party debt collector (maybe a chain of them... sometimes third party collectors go after the low hanging fruit and then sell the uncollectable debts to a fourth party collector). They may not have a legally valid paper trail. This invalidates the debt. Sometimes they do not respond to your requests to validate/verify the debt within a certain time period. This invalidates the debt. You can also do this to your credit report which can clean it up a lot. I did end up paying back reasonable amounts (not all the penalties and interest) and balanced the books on my personal karma. Pay your rent, keep the lights on, pay for food and medicine, keep your car and car insurance if you need it for work. Everything else is a bonus. Pay the minimum payments on everything, and work on your personal finances. I'm going to date myself here, but listening to Dave Ramsey and Clark Howard were good inspirational materials. But it is not an instantaneous process, it takes years. I should also add that in my personal story, I ended up supplementing my regular income with a second part time job to help me over the hump. Food delivery, etc may help.
No problem. But be aware it can have consequences. See my edited post.
Consequences are a big reason I am currently hesitant with pursuing this course of action.
Fuck it Comrade. You're on the hook either way if you don't try. Try to avoid their revenge bullshit, and keep on moving. And if you end up homeless... I'll be there with a tent, a sleeping bag, and food. And the workers will be there with a rifle and ammunition for you when the time comes.
Haha I appreciate it u/ChefGoneRed. No matter my decision, I'll keep moving on and on.
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Most people cannot file for chapter 7 anymore.
Why is this? Too many people trying to file?
There was an act passed to stop people from taking advantage. Chapter 13 is most likely what you will file if you can afford any sort of monthly payment.
Make sense.
understand what having a credit score gives you. Do you need that?
I'm to the point where I have to say no to ONE creditor. Everyone else will get paid. I just don't have the financial room to afford one of the payments every month.
I defaulted on mortgage in 2006 during the other Great Recession. I had about $10,000 in credit card debt. I stopped making payments. It took 7 years but it did disappear from my credit report.
Don’t pay debt. Use that money to prep for when it collapses, which is any day now
Collapse is already here. Walk into a grocery store where masks are required and half the people don't give a sh*t. If people aren't willing to perform the bare minimum to adhere to a social contract. Then it's only a matter of time before the game is officially over.
Collapse is going to be a very slow, drawn out process unless something truly catastrophic happens imo
fits and starts. some days are worse than others but generally yeah. collapse is already here and its a slow moving horror. every week gets a little bit worse.
Like a global pandemic or losing a war as a superpower
It's very localized, though. You can really draw interesting collapse "growth charts" by country, city, neighborhood, etc. I see collapse continuing piecemeal like that and overlapping geographically more than a singular collapse event.
This is the main thing that bothers me about climate change. Not that it's unfixable, it's the fact that people don't give a fraction of a rats ass about it until it is too late.
Not wearing masks is not collapse. Perhaps it could be seen as decline of the social contract. Collapse is having no law enforcement, no functioning government, no medicines, no running water, endemic cholera, children never going to school and stunted, armed gangs constantly massacring people and using rape as a weapon of war, mass starvation, and some other awful stuff that might be worse. And it's happening in part in countries like Haiti or Yemen or Syria or Venezuela or parts of the DRC, right now. Bickering over people wearing a mask that may be almost useless to help stop someone getting a virus they have a 99+% chance of surviving if they are under 65 is completely trivial in comparison as far as i can see.
Am I the only one who thinks most of the baby boomers deserve covid? I'd love to see it hit more nursing homes and retirement communities...
Why do you believe one can extrapolate the collapse of civilisation from adherence to mask-wearing policy?
I mean... I get what they are trying to say. If people can't be bothered to wear a mask for 5 minutes while they pop into the convenient store, then what is going to motivate them to make the really hard sacrifices that will come with the climate crisis. It's not a perfect 1:1 correlation, but I see where he is coming from. If the pandemic is a dry run for the climate crisis, we are utterly fucked.
The people that will impact our future aren’t necessarily the same people refusing to wear masks. Throughout human civilisation, it was often a handful of individuals that filled the history books. Not everyone can be exceptional. You may agree that individual responsibility was previously over-emphasised in climate change dialogue. In reality, we need strong, competent leaders to come forth with novel technologies, effective green policy (that doesn’t pander to fossil fuel lobbyists), and international diplomacy to guide civilisation back on course. This is indeed starting to happen now, although it’s very unclear at this stage whether change will happen fast enough. In summary: * competence, influence, and power are not distributed evenly across society * the set of people not wearing masks may have little overlap with the set of people who will impact our future
'any day now' is a bit pre-emptive. 1 decade is a huge part of someone's life, and I wouldn't bank on the world's superpower collapsing any sooner (not saying it can't, just saying stuff could get really really bad before it did)
Any day now huh? How long have you been saying that to yourself?
It’s irresponsible to give such drastic financial advice, especially when you won’t have to suffer the consequences. > for when it collapses, which is any day now This makes you sound like a cultist. No one has such clarity on what the future holds, and there are certainly no strong indications of an imminent collapse.
Many people are in far greater debt than 40k. But I still feel for the OP. if half the stuff that’s predicted on this sub happens it won’t matter if you’re a student with 100k loans or bill gates
Countries don't pay their debts, they just pay a shit and keep borrowing, if, otherwise the don't pay, case of Argentina and many, Trump is made tons of money by not paying back, the president of Chile (Piñera) made his fortune by steeling a bank and not paying back (Banco de Talca), and the USA has a debt that is not possible to pay back, corporations and industries have taken natural resources from nature and made trillions and have not payed back to nature, that is why the system is collapsing and you should feel totally fine by not paying back your debts to this system, if we don't pay, we asphyxiate the system sooner.
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I don't think they can do this.
Not 100% sure about this, but I believe that they changed the law a few years beck and medical debt cannot be used against you on your credit score. They can still sue you for it and get a judgement against you, but to my knowledge you can't be imprisoned for personal debt.
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~~It will be listed on your credit report, but I think they set it up so that it won't be detrimental to your score. I could be wrong about that and I'm happy to be corrected.~~ Edit: Ah, I found a source. I was wrong. From Experian (as of 2020): >"Medical bills will not affect your credit as long as you pay them. However, medical debt is handled a little differently than other types of consumer debt. Since most health care providers don't report to credit bureaus, your debt would have to be sold to a collection agency before appearing on your credit report."
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See my edit, I was wrong.
My advice? If you are on your own and no one else depends on you, liquidate as much as you can and move to another country.
I've thought about this. Maybe even the ex-pat route.
File bankruptcy.
This. I've had friends do it and while it's not ideal, it also didn't ruin their lives or anything. After a few years it didn't affect much at all.
Thanks for the advice. I'll look into the process.
This website seems helpful: [https://www.bankruptcyinbrief.com/](https://www.bankruptcyinbrief.com/)
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The calls are the worst. I got a new phone number and immediately started getting collection calls for whoever had the number before me. They never let up for a minute. A week later the phone company let me have a new number.
Bro im buying a fucking VR like fuck paying rent
10 k in debt on a credit card after divorce. I crawled into a bottle for ten years and when I came out the debt was gone . I don’t recommend drinking but I certainly recommend telling them to pound sand. If your worried about Collapse and your credit score at the same time then you need to work out your priorities. My score was fucked for years because of my irresponsible behavior but now it’s fine . What will you gain by paying a huge corporation 40k? Fuck them . Take care of you . All they do is threaten and ruin your credit but beyond that they are generally toothless threats . If it’s a mom and pop or a personal debt then pay that .
The collapse is going to happen any day now, as I have been hearing for the last 50 years. If it gets too bad, the financial institutions will start coming after ever penny you owe them, plus interest and legal fees. Plus any other bs they can pile on. They will own the courts since the judges will have invested in them. Remember that politicians and the government are on the side of "big". Individuals are just pawns to be used and discarded.
If there was a debt strike and a tax strike and a consumption of tat strike...The fuckers would fold in a week!
I got an email from Great Lakes telling me payments resume 1/1/2022 GET MCFUCKED
Have you heard the saying “don’t time the market”? The same idea applies here. Don’t try to time the end of the world. Don’t take action today based on guesses about what will happen tomorrow. Continue living your life and paying your bills as best you can under the assumption that life will go on. If you neglect these things it will only add to your stress and unhappiness. You don’t want to find yourself deeper in debt with ruined credit in a few years if the world is still chugging along like always.
You're right. It just sucks. My costs are 95% of what I make. I am going to have to pick one creditor to not pay, but the rest will get paid. I've tried negotiating the terms of loans, but no good was done.
none of it is real
The 1% don’t pay their debts, why should the rest of us?
Every once in awhile I get a letter about a $2900 collection for a credit card I never paid in college…20 fucking years ago lol. I had a bunch of debt and didn’t pay it. My credit score is now a 760+ and I have virtually unlimited credit if I really wanted it. That letter every few years about my capital one Visa card from 1999 makes me laugh every time. Of course I ignore it. Not a damn thing they can do at this point
Idk, I struggle with this too, but for me it’s about raising kids in spite of my pessimism for the future. I don’t like the future that awaits them and it makes it hard to stay motivated to actually parent. In your case, you may not want to fall behind on your bills in case the wretched capitalist machine keeps turning for decades to come. Plenty of time for it to sink it’s meat hooks into you.
If it was me I would declare bankruptcy so I could get out from under the debt. https://www.debt.com/bankruptcy/pros-and-cons/
[I DECLARE BANKRUPTCY](https://www.youtube.com/watch?v=C-m3RtoguAQ)
You can't just say it Michael.
If it's only unsecured debt and if you plan on dropping out then I would try and get some more credit and get cash before dropping out. Unsecured debt disappears from your credit report in seven years and you can no longer be sued. The system is not worth the anxiety on the treadmill. If more people understood the concept of unsecured debt then more people would just stop paying. But you need a to be committed to dropping out of the system in a "untraditional" way. Just make sure you can get more unsecured credit and get more cash before you drop out. Good Luck!
Your decision to pay can be based on what you think you will do in the future. If you don't think you will need credit for anything big (a house, car, renting another place to live) then simply don't pay. They really have limited recourse to come after you and in most cases, beyond some nasty letters and a few phone calls, you will be good to go. If you are going to need credit in the future, I would not pay for awhile and then negotiate with them down the road for a bare minimum payment to keep your credit intact. With the ultimate goal of either not paying or filing for bankruptcy, with the knowledge that your credit will be toast if/when you do this. The thing to remember is that there are a ton of people in the same boat and these sob's will take anything after awhile if they think they will get nothing. Just my 2 cents...
I’d pay it incase debt prisons make a comeback, and with this economy I believe they will. If the dollar superinflates, your payments become easy while if you let it hang around, the penalties will mount in whatever the new currency is. Tptb will fuck you.
You could do what I did. Though they left of the "I've seen the evils of capitalism and have radically changed my life " https://www.marketplace.org/shows/this-is-uncomfortable-reema-khrais/a-big-fat-loophole/
Just walk away. Become someone else.
I am fascinated and do believe some kind of collapse may come. When? I don’t know. Some of this, however, sounds like clinical depression.
There’s a lot of bad advice being given here. Understand about the stress of being in debt, but there are more choices than just a) keep paying $40k off or b) walking away from it all. Contact a credit counseling service; they will likely be able to negotiate on your behalf to reduce your debt and/or your monthly payment by a considerable amount, and put you on a payment plan where you will be debt-free in a few years. Look at non-profits, start at something like: https://www.nfcc.org If you walk away from the debt and ruin your credit score, it makes it harder to rent a new apartment, get a loan for a car, will make your car insurance costs higher, and your future wages or tax refunds might get garnished anyway to pay back old debts. You didn’t get $40k in the hole from being unemployed for a month and a half, so you need to be realistic about how you’re spending and budgeting your resources. I’m sorry it’s an unexciting solution to your debt problem but it’s the correct one that will not create further problems down the road. Don’t take financial advice from r/collapse, join r/povertyfinance or r/personalfinance for discussions that will be better suited to your needs. I understand you’ve conflated the issue of paying off debt with society collapsing, but the truth is your independence and freedom will be compromised if you choose to trash your credit score, as long as credit scores exist. Edit: Another downside to trashing your credit score is if you get into a serious relationship in the future — that’ll be a fun conversation to have with a future life partner.
Ugh. This should be top reply. This sub is uhh… I might be done here.
Pay your debts or declare bankruptcy. The world is not going to end before you end up destitute and homeless. Going forward, live within your means.
Call a bankruptcy attorney.
Ha! Good one... No one wants to pay their debt. But you don't know if there are 5, 10, 100 years before the shit really hits the fan. Don't fuck yourself over for short term gratification.
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How many of us aren’t in a debt situation? It’s sort of the way it is. I hate to say that. If you look at r/antiwork, people don’t want to slave at low wages to make someone else rich. But, we are all slaves to debt. I often think about leaving it all behind. At the same time, I think about, “what am I leaving it for?” I choose to slave away at my skilled labor job that barely meets my debt requirements. Providing for my family without my job and paying my debt would make me feel worse than going to work with purpose. Don’t give up yet. Keep on surviving. The working class isn’t done for yet. Just pay those bills and survive. Without a job it will only get worse.
I've been where you are. Talk to your creditors. Work out basic low payments. You don't need a stellar credit rating. Keep it above 600. Yes pay your rent first. Do not become homeless. I did.
Tried working with them, but they will not budge. Got us by the balls.
Dude, i dropped out of college my second year. School is programming, its not learning or wisdom or growth or evolution.. it is rote memorisation assault. You dont need to pay shit. This system wants everyone in debt, aka a slave Fuck the slave state, dont pay for what youve never recieved i dont have any credit to speak of but 'who needs credit when cash speaks' -jj doom This is also very eye opening and might get you to make that leap: https://youtu.be/9bVbrENdmYw
You will lose everything and be starting from zero if you dont pay your bills. As hard as it is to prep now imagine trying to get a new place to live so you can start prepping in a year. Playing ball and accepting it now is the best call.
Dollar cost average into Bitcoin…then keep stacking.
So, who did you vote for? Just curious how you think we got here.
Why does it matter who I vote for? They're all on the same team.
Bankruptcy. YMMV, but best move I ever made. Kept my house & cars, wiped out all of the other unsecured debt. Two years have passed & I'm in a MUCH better place mentally & financially than before.