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Paying consumer debts is basically optional in the United States

pluralistic.net

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Re: Paying consumer debts is basically optional in the United States

#2

Post by Bostonian »

You can believe that collection agencies behave illegally and also think that is unethical not to pay your debts to the best of your ability. Even if paying consumer debts is optional, not being able to get credit in the future, especially a home mortgage, is an incentive to pay. Some employers check the credit scores of applicants, and such scores probably are a decent indicator of whether someone has their life in order.

Re: Paying consumer debts is basically optional in the United States

#3

Post by blcknight »

Sort of. I got into a rough spot after I got out of the military and I ended up defaulting on all my credit card debt. I got kicked out for being gay with no notice and had no savings. What little I had went to moving and finding a new job.

Only AmEx sued me (and we settled). I later sued most of the collection companies with the help of a lawyer and netted about $40K in settlements. Some had called my parents and told them they’d call the police and arrest me that day (they paid). Another called me work repeatedly and told my boss (he didn’t care other than the endless harassment).

It took 7 years for my credit to be clean. I still get calls from scummy bottom of the barrel collectors about debt I paid/settled - even 20 years later. They give up easily though, statute of limitations is long past.

Anyway my point is it’s not optional, you can get sued. And they'll harass you endlessly.

Re: Paying consumer debts is basically optional in the United States

#4

Post by l33t7332273 »

blcknight wrote: post #3

Sort of. I got into a rough spot after I got out of the military and I ended up defaulting on all my credit card debt. I got kicked out for being gay with no notice and had no savings. What little I had went to moving and finding a new job. Only AmEx sued me (and we settled). I later sued most of the collection companies with the help of a lawyer and netted about $40K in settlements. Some had called my parents and to…

> Another called me work repeatedly and told my boss

Even from a purely self serving perspective, why would they do this? If your boss gets mad that you have bad debt and fires you, then it’s now even less likely that you will be paying off the debt, no?

Re: Paying consumer debts is basically optional in the United States

#5

Post by mistrial9 »

blcknight wrote: post #3

Sort of. I got into a rough spot after I got out of the military and I ended up defaulting on all my credit card debt. I got kicked out for being gay with no notice and had no savings. What little I had went to moving and finding a new job. Only AmEx sued me (and we settled). I later sued most of the collection companies with the help of a lawyer and netted about $40K in settlements. Some had called my parents and to…

[flagged]

Re: Paying consumer debts is basically optional in the United States

#7

Post by blcknight »

mistrial9 wrote: post #5
blcknight wrote: post #3

Sort of. I got into a rough spot after I got out of the military and I ended up defaulting on all my credit card debt. I got kicked out for being gay with no notice and had no savings. What little I had went to moving and finding a new job. Only AmEx sued me (and we settled). I later sued most of the collection companies with the help of a lawyer and netted about $40K in settlements. Some had called my parents and to…

[flagged]

Why doubt me? I’m 40. The gay ban ended in 2011…

Re: Paying consumer debts is basically optional in the United States

#8

Post by blcknight »

l33t7332273 wrote: post #4
blcknight wrote: post #3

Sort of. I got into a rough spot after I got out of the military and I ended up defaulting on all my credit card debt. I got kicked out for being gay with no notice and had no savings. What little I had went to moving and finding a new job. Only AmEx sued me (and we settled). I later sued most of the collection companies with the help of a lawyer and netted about $40K in settlements. Some had called my parents and to…

> Another called me work repeatedly and told my boss Even from a purely self serving perspective, why would they do this? If your boss gets mad that you have bad debt and fires you, then it’s now even less likely that you will be paying off the debt, no?

My experience with debt collectors is they don’t act rationally and once they’re able to find someone they harass you using any means necessary. The fear of being fired is a good motivator to get people to pay.
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