Credit cards, back to the wall

[needtogetarmy]

Any serious or informative info? What happens if I have to live on these freakin things and cant pay the bills?

Bankruptcy is the only option once you hit the limit.

I would look at other alternatives, like maybe working a couple of shitty jobs. That is what I did when things were rough.

The key to wealth is very simple: ALWAYS live beneath your means. If you currently have the ability to cut your costs do it now.

 

[HAYEZ]

lololo and this, America, is why we are in the economic situation we are in right now.

i actually did really well when work was good... but my savings went from 120k to 0 over the last few years because of the economy and my job..its kind of hard to change the lifestye your used to ...was just dragging it out thinking econemy would bounce back and thigns would be good to go again,,,. droppin a 1000 on clothes and going out on the weekend wasnt a big deal... but now as we see america is fucked ...i work twice as hard for less money... no more boat...no more eating out...no more clothes...did pick up a new child support bill though!

 

[itz486]

Thanks that good advice for anyone, but Ive read elsewhere that you shouldnt file unless you have reached a certain level of debt. At this point I have to use them or else, I dont want to venture into illegal territory, can I legally continue to spend without breaking the law?

 

[-SD-]

Thanks that good advice for anyone, but Ive read elsewhere that you shouldnt file unless you have reached a certain level of debt. At this point I have to use them or else, I dont want to venture into illegal territory, can I legally continue to spend without breaking the law?

talk to a damn bankruptcy attorney. debt is all relative to each person so no one here can tell you what that certain level is.

 

[HAYEZ]

Thanks that good advice for anyone, but Ive read elsewhere that you shouldnt file unless you have reached a certain level of debt. At this point I have to use them or else, I dont want to venture into illegal territory, can I legally continue to spend without breaking the law?

what your saying is your going to just spend and spend and never pay the bill?

 

[needtogetarmy]

Thanks that good advice for anyone, but Ive read elsewhere that you shouldnt file unless you have reached a certain level of debt. At this point I have to use them or else, I dont want to venture into illegal territory, can I legally continue to spend without breaking the law?

You can run up all the debt you want to as long as you are not doing it with the sole purpose to defraud your creditors. Using the money to live off of while intending to pay it back is not illegal. If you are intentionally charging the cards with no intent to pay it back then that is illegal.

 

[-SD-]

what your saying is your going to just spend and spend and never pay the bill?

the american way! wheres RG, hes much better at this than i am

 

[itz486]

You can run up all the debt you want to as long as you are not doing it with the sole purpose to defraud your creditors. Using the money to live off of while intending to pay it back is not illegal. If you are intentionally charging the cards with no intent to pay it back then that is illegal.

I know Iam financially naive. Could you please tell me what defines intentionally, according to the law? I have heard that people max out their cards and then file, that sonds intentional to me.

 

[samoth]

Any serious or informative info? What happens if I have to live on these freakin things and cant pay the bills?

The government will bail you out if you can't pay your debt. Don't worry, bro.

 

[itz486]

The government will bail you out if you can't pay your debt. Don't worry, bro.

OK, how will they do that?