What happens if you run up your credit cards then just don’t pay them?
Tags: Cards, Credit, Credit Card Bill, DontMy husband left me with 2 little kids. I have 12,000 on credit cards. My job is in jeopardy because I can’t keep a sitter. It is so hard for me to get to work because of unreliable child care. I was wondering what would happen if I quit my job, stayed home with the babies, and lived on credit cards to get through this.
What would happen if I ran up a large amount then just filed for bankruptcy. I know my credit would be screwed but would there be any other consequences?
yeah jail and you’ll have to pay all tha. do you have parents r any other family to keep your kids. don’t live off of credit cards thats a very bad choice to do. put your husband on child support if he not taking care of his kids. at least that will be money come in.
Well it could turn out to Jail or the Goverment taking things away from you, watch out…. The IRS
First off, it sounds like you are just giving up. I’ve been through a very similar situation. You cannot just do that. What you are basically saying is, I want to tell these companies that I am a credible borrower, borrow all the money they are willing to loan me, and then “get out of it” through bankruptcy.
That just seems like one of the most awful ideas. What you don’t realize is that bankruptcy laws are getting stricter, and you may not get out of it in the first place. Also, it is just morally and ethically wrong- would you want someone to do that to you?
How do you think this whole economic crisis started? It started by people spending more than they could afford in housing and credit- and when everyone defaulted at once- everything collapsed.
So, please don’t do that. Look to your left and look to your right next time you are in public, because those are the people that will end up paying for your poor decision in the long run.
I suggest that you employ a divorce lawyer, or sell whatever assets you can to have money. I’m sure your boss will understand if you explain to him your awful situation. You don’t have family that can help with the kids? There are other ways. The idea you’ve presented is highly irresponsible. Work with your bank, and tap into other resources. When times get tough, we need to be resourceful- not irresponsible.
I hope my advice keeps you from making your life much more worse off in the long run.
Excellent response, KB.
I know just the person to help you get the ball rolling. Buy the book, “The Total Money Makeover” by Dave Ramsey. Find him on the radio, watch his TV show on Fox Business at 7pm CST nightly, and set up your itunes to download his daily podcast. You will hear people in your predicament and listen to the advice he gives them. It can change your life. There are ways to handle this responsibly. What you are contemplating will only make things much worse for you and your kids in the long run.
Although I am not a fan of this approach, this is a case where it may actually do some good, but you should look into what kind of state assistance that may help you get on your feet and then get off of it. I hate government programs. If they were used for what they were intended for, I wouldn’t have such a problem with them. Right now they are like cancer, once they start, they never go away at the cost of the taxpayer.
Sounds like you deadbeat husband needs to man up to his reponsibilities, or go to jail. Take him to the cleaners. We all must pay for the choices we make. Its called accountability.
Good luck and give it try.