How much power do they actually have ?

delllat

if you run up €20k debts on a credit card and just outright refuse to pay it back is there anything they can actually do ?

after reading the credit card thread a lot of people are in debt but if all the can do is send letters is there any point giving them anything ?

Red_Marauder

To begin with, you'll probably have to live without accessing credit from any reputable lender for the rest of your life.

I'm pretty sure they can access your assets - I know someone who can't sell his house or release any assets because of a debt he owes to two clients. I think you can get a judgement against you in the courts in that regard.

cherryghost

delllat wrote: »

if you run up €20k debts on a credit card and just outright refuse to pay it back is there anything they can actually do ?

after reading the credit card thread a lot of people are in debt but if all the can do is send letters is there any point giving them anything ?

Legally they are obliged to break your ankles with a sledgehammer.

Princess Consuela Bananahammock

God won´t let you into Heaven.

Earthhorse

cherryghost wrote: »

Legally they are obliged to break your ankles with a sledgehammer.

OP, please ignore this "hilarious" post.

They actually use a jackhammer.

skywalker_208

You refuse to pay your debt?
Of course they can do more than send letters. They can bring you to court and destroy your credit rating and ensure you never get a loan/mortgage again...

delllat

skywalker_208 wrote: »

You refuse to pay your debt?
Of course they can do more than send letters. They can bring you to court and destroy your credit rating and ensure you never get a loan/mortgage again...

if you have 5 credit cards and you transfer all the balances to one card that would leave 1 blacklisted card and four clean ones ,would it not ?

Black Swan

If you don't pay, you don't play!

connundrum

Blue_Lagoon wrote: »

If you don't pay, you don't play!

If you're not in, you can't win!

Turd Ferguson

If you dont pay your credit card bills NO SOUP FOR YOU

seamus

delllat wrote: »

if you have 5 credit cards and you transfer all the balances to one card that would leave 1 blacklisted card and four clean ones ,would it not ?

They don't blacklist cards, they blacklist people. If you default on one card, they'll cancel all of your cards.

robinph

delllat wrote: »

if you have 5 credit cards and you transfer all the balances to one card that would leave 1 blacklisted card and four clean ones ,would it not ?

So you have a Visa and a MasterCard ... what were the other three cards again?

ScumLord

skywalker_208 wrote: »

You refuse to pay your debt?
Of course they can do more than send letters. They can bring you to court and destroy your credit rating and ensure you never get a loan/mortgage again...

Which is probably a good thing considering.

Ruu_Old

Send a few burly looking fellows around to your house to rough you up a bit.

Stephen

They'll probably sell the debt to a debt collection agency, such as the lovely one run by "the viper". They will then do what they can to get the cash out of you.

Mimikyu

This post has been deleted.

Turd Ferguson

Ruu wrote: »

Send a few burly looking fellows around to your house to rough you up a bit.

They tried that on me but I put a mop on my head and tied some curtains around me like a dress. When the came to the door I opened it and said "yohooooo". The burly guys jaws dropped to the floor and their eyes popped out.I waited till they closed their eyes and lent in for a kiss...thats when I hit them in the face with a frying pan. I call this the Bugs Bunny method

ScumLord

Turd Ferguson wrote: »

They tried that on me but I put a mop on my head and tied some curtains around me like a dress. When the came to the door I opened it and said "yohooooo". The burly guys jaws dropped to the floor and their eyes popped out.I waited till they closed their eyes and lent in for a kiss...thats when I hit them in the face with a frying pan. I call this the Bugs Bunny method

I don't have a mop, would a dustpan and brush or tea towel do instead?

delllat

viper debt collection is as useless as any other ,My old boss told viper to fcuk off or hed have him arrested for harrassment and they havent came back since

Honey-ec

delllat wrote: »

viper debt collection is as useless as any other ,My old boss told viper to fcuk off or hed have him arrested for harrassment and they havent came back since

"And then I said to the President..."

ejmaztec

delllat wrote: »

viper debt collection is as useless as any other ,My old boss told viper to fcuk off or hed have him arrested for harrassment and they havent came back since

They'll probably come back to harvest his organs, then give him a pair of concrete wellies before taking him on a boat trip.:eek:

deadhead13

About 200 people are sent to prison each year for non-payment of debt.

Jet Black

If you leave the country most likely they wont be able to come after you. That's an option for you....

delllat

Honey-ec wrote: »

"And then I said to the President..."

its people who think hes "scary" that gives him the power to intimidate others

martin foley is just another lowlife scumbag

petes

deadhead13 wrote: »

About 200 people are sent to prison each year for non-payment of debt.

Incorrect. About 200 people are sent to prison each year for contempt of court.

antodeco

1.21 gigawatts.


/may actually be the flux capacitor.

Overheal

9001 Terawatts, actually.

Mr. CooL ICE

ScumLord wrote: »

I don't have a mop, would a dustpan and brush or tea towel do instead?

A tea towel? I guess looking like an arab might make them think you're an oil baron, so yeah

Gordon

Mask wrote: »

If you leave the country most likely they wont be able to come after you. That's an option for you....

Not necessarily, if you are looking for work, or trying to get credit in other countries they could request credit references from Ireland.

deadhead13

Insurgent wrote: »

Incorrect. About 200 people are sent to prison each year for contempt of court.

Yes, but why are they deemed to be in contempt of court?

Joey the lips

I find this question strange. If of course in theory a person runs up 20k in debt and feels they should not have to worry to much cause they dont pay it what is the differece between them and the @ssh@le bankers who have run up 2 billion dept and feel they should not have to pay!

If you were not thinking when buyng the flatscreen then now is time for a cold cold shower

In theory of course!

Kimbot

delllat wrote: »

if you have 5 credit cards and you transfer all the balances to one card that would leave 1 blacklisted card and four clean ones ,would it not ?

Its not the card that is black listed its you that is blacklisted!!

Overheal

deadhead13 wrote: »

Yes, but why are they deemed to be in contempt of court?

noncompliance with court orders, failing to attend court, etc.

http://en.wikipedia.org/wiki/Contempt_of_court

delllat

http://www.fairloanrate.com/2008/09/05/what-if-you-dont-pay-your-credit-card-bills/


What if you don’t pay your credit card bills?

by R. MAK. on September 5, 2008

in Credit Cards

These are difficult times for our economy. Each one of us is feeling the pinch due to increased cost of living. It is getting very difficult to make ends meet. In difficult times like this it is very easy to amass a huge credit card debt. It can happen to anyone. Even to people who have been financially responsible. “Can I just don’t pay my credit card bills?” is the question many individual ask themselves and friends. This option is very much there. It also will give you some extra cash for few months ahead. But following are few of major problems you can get yourself into if you stop paying your credit card’s monthly payments.If you don't pay credit card
Collection Calls

This is most scary part of Credit Card Game. Credit Card Companies will constantly call you and demand their money back. Collectors may call you 5 - 7 times a day. They will call you at home, They will call you at work and they will call you on your mobile phone too. There have been some reports that collection agents have been calling bosses, co-workers, and family members (which amounts to harassment and is not legal). They go to any length to get you on phone and when they get you on phone they use a lot of psychological techniques to lure you into giving them checking account numbers and other banking information. They will use every trick to make you pay. One of the well known methods is that they intimidate and threaten you by telling you that they will take your house, car etc. Or they will bring police to your home. all this can be very stressful on some people. You will also start getting letters in the mail from them that may eventually turn more demanding.

Don’t get intimidated by them, Know your rights and report any violations to police and seek help. Most of the credit cards are unsecured so no one can take your car, house, furniture, etc. Worst thing these credit card companies can do is… they can really damage your credit score.

Bad Credit Score

If you go 30 days past the due date on any of your credit cards, these credit card companies normally report this to Central Credit Bureaus so these missed payments are likely show up in your credit report and this has a terrible impact on the credit score. Companies, almost all of them will increase their interest rate and future loans may either be refused or available to you at very high costs.

A Bad Credit Score is not good. Anytime you apply for a job, home loan, school loan, car loan, car insurance, They do take a look at your credit score. If you are really in very bad crunch. consider bankruptcy as an option. After some time, usually 7 years, it’s all clean and neat again.
Excessive Interest Rate / Late Fees

Once you start missing your credit card payments, most of the credit card companies start charging “Default Rate”. That is normally highest possible interest rate, about 30%(Check the fine print on your credit card Application form or Disclosure on your Credit Card company’s web site). They also start charging late fee penalties ranging between $20-60. if your balance exceeds the credit limit, which normally does, there will also be an over-limit fee which would be charged on daily basis.

I would recommend that you contact each of your credit card companies and ask to have your credit card account closed. This action will stop interest from accruing i.e multiplying. They will tell you that they can decrease your interest rate or they can allow you to make a very minimal monthly payment. some even offer a $3 per month payment plans but this is rarely more than a trap. You will only end up throwing money away as you will only be paying the interest payments and a debt will continue to grow. They will eventually close the account themselves anyway. So it is in your best interest that you do it yourself as it will save you some(depending on your balance $100 to $10,000) money at the end. Ask for a final bill from your credit card company and when you receive that then just try to pay a certain amount on each bill if possible but I recommend that put them aside and concentrate on your mortgage and other liabilities like car payments, children education.

Once you start earning more income, you can either try to pay off the balances of the closed accounts little by little. If you can arrange some extra cash at the end you can also contact each credit card company directly and make them an offer to pay a certain percentage of the balance owed i.e 20% to 50% (think about your offer before you call them). If you choose to do this, stay firm on your offer and document everything. Do not send any payment to them until they send you something in writing that they will mark the account paid in full (keep all documentation and proof of payment).

Most Credit Card companies will accept this because they feel that something is better than nothing. They might also make a counter offer but stay firm and tell them that it’s all you can afford. If they say “No” than don’t worry and say “thank you very much” and move on to the next credit card company. It is most likely they will call you up to accept the offer.

It is also a very good idea to consolidate your debt on one credit card account and then make minimum payments.
Legal Action

Eventually, if a credit card debt becomes very delinquent, Credit Card companies might take legal action course which can result in liens, garnished wages or any other legal judgements requiring you to pay your debt. However, credit card companies would normally try to avoid this situation because this is a very long, complicated and expensive process. But nevertheless, legal action does happen.

Just to debunk a myth, credit card companies generally do not freeze bank accounts. They would first need to have a court judgement against you. This whole process costs them money and it is rarely done by credit card companies. So, don’t worry, no body can put you behind bar, take away everything from you.. there is always help available. don’t worry.

deadhead13

Overheal wrote: »

noncompliance with court orders, failing to attend court, etc.

http://en.wikipedia.org/wiki/Contempt_of_court

The court orders a repayment of debt in installments, the repayments aren't met so a futher application is made to have the debtor imprisoned. So technically thet are sent jail for contempt of court.

CrazyRabbit

They can send boards.ie forum moderators after you! Beware the ban hammer!!!!!

thelurch

connundrum wrote: »

If you're not in, you can't win!

A dog is for life, not just for christmas
Mind that child, they may be deaf etc etc

CSC

This happened recently...

An unemployed mother of four with psychiatric problems who was jailed last week for a month over non-payment of a €1,500 credit card debt was freed yesterday by order of the High Court.

The woman’s solicitor, Declan Fahy, told the court in an affidavit she had said she saw an advertisement for credit cards from MBNA Bank while an inpatient in a psychiatric hospital and had applied for a card, claiming to be working in a factory.

Mr Fahy said the 33-year-old was given a credit card by MBNA bank with a credit limit of €1,500. She had used that facility, did not reply to correspondence relating to her debt, and did not attend any court hearing in that regard.

The woman was on disability benefit and her husband was long-term unemployed on social welfare and the family’s total weekly income was €464, he added. The woman was also being pursued by Bank of Ireland over a €2,000 loan, some of which she had repaid, he said.

Mr Fahy said the woman remained under psychiatric care and had received medication while in prison. She had been diagnosed with cervical cancer two years ago, had had a hysterectomy and was still under review for recurrence.

The first time she realised she was to be imprisoned over the debt was when she was arrested on May 13th last and detained in the Dóchas Centre in Mountjoy Prison, he said.

Lawyers for the woman yesterday applied to the High Court for an inquiry, under Article 40 of the Constitution, into the lawfulness of her detention. Counsel for the woman said Section 6 of the Enforcement of Court Orders Acts provided a person may be imprisoned over non-payment of a civil debt for a maximum three months but also provided the court must be satisfied the person had wilfully refused to pay or had engaged in culpable neglect.

There was an issue in relation to placing the onus of proof on to the debtor and a challenge to the constitutionality of Section 6 had recently been heard by the High Court, with judgment reserved.

In this case, the woman had applied for a credit card while an inpatient in a psychiatric hospital, was not in court when the imprisonment order was made and her lawyers were unaware of any efforts to tell her about her right to legal representation at that hearing. In light of such matters, it was contended the detention was inappropriate.

Mr Justice O’Neill directed an inquiry should be held, and when that inquiry began later yesterday, he was told by Conor Devally SC, for the woman, the issue related to whether the onus of proof in relation to non-payment of a debt was correctly applied on to his client. His client had incurred a debt to MBNA which in turn appeared to have assigned the debt to Cash Flow Services.

Counsel for the governor of the Dóchas centre said the woman was being held under a warrant which, on its face, appeared lawful.

Michael Lynn, for Cash Flow Services, a notice party to the proceedings, said his client had no objection to the woman’s release.

Mr Justice O’Neill said there were a number of aspects to the case, including natural justice issues and whether there was any jurisdictional basis for the woman’s detention. “Without further ado, I will direct her release,” he said.

In a letter issued later yesterday, solicitors for Cash Flow Services said they had written to the woman several times seeking payment of the debt, together with serving legal proceedings on her, but had never received any reply.

They had no prior knowledge of the woman’s personal circumstances, the solicitors said. Had they been so aware, they “would not, under any circumstances”, have proceeded down the route of seeking a committal warrant.

This article appears in the print edition of the Irish Times

http://www.debtadvice.ie/blogs/83/Court-frees-Woman-Jailed-Over-1500-Credit-Card-Debt.html

5starpool

If you have 5 credit cards then you deserve to be in loads of debt.

If you can't control your spending, good enough for you.

tony 2 tone

deadhead13 wrote: »

Yes, but why are they deemed to be in contempt of court?

Because they couldn't resist doing the "Few Good Men" speech

Judge Randolph: *Consider yourself in Contempt!*
Kaffee: *Colonel Jessep, did you order the Code Red?*
Judge Randolph: You *don’t* have to answer that question!
Col. Jessep: I'll answer the question!
[to Kaffee]
Col. Jessep: You want answers?
Kaffee: I think I'm entitled.
Col. Jessep: *You want answers?*
Kaffee: *I want the truth!*
Col. Jessep: *You can’t handle the truth!*

Capt'n Midnight

Mask wrote: »

If you leave the country most likely they wont be able to come after you. That's an option for you....

They would just sell the debt to a foreign debt collector

you would also be liable for court / recovery costs on top on the interest on top of the debt

delllat

5starpool wrote: »

If you have 5 credit cards then you deserve to be in loads of debt.

If you can't control your spending, good enough for you.

i have more than 5 credit cards and all of them are in credit and paid by direct debit in full every month

but thanks for such a useful post dickwad

5starpool

delllat wrote: »

i have more than 5 credit cards and all of them are in credit and paid by direct debit in full every month

but thanks for such a useful post dickwad

temper, temper.

How could you possibly need more than 5 credit cards?

delllat

I dont "need" them but i like having credit available should the situation arise as my business involves making large purchases at short notice

not everyone who has credit cards is broke! ,The only money my credit card companies make is the % of the tranactions they get from the merchant

i have never paid 0.01c in interest to a credit card company and dont intend to if i can avoid it

Donny5

delllat wrote: »

“Can I just don’t pay my credit card bills?” is the question many individual ask themselves and friends.

These people must be bloody idiots.

Gummy Panda

delllat wrote: »

I dont "need" them but i like having credit available should the situation arise as my business involves making large purchases at short notice

not everyone who has credit cards is broke! ,The only money my credit card companies make is the % of the tranactions they get from the merchant

i have never paid 0.01c in interest to a credit card company and dont intend to if i can avoid it

can't you just get a credit card with a big enough limit?

Overheal

Gummy Panda wrote: »

can't you just get a credit card with a big enough limit?

A lender wont give you a huge line of credit unless they have some assurance you are able for it. Thats what the FICO score is all about.

I just got my first Credit Card ever today. To get a $500 line of Credit I had to put $500 down as a deposit. As my credit score improves I will be able to qualify for real cards (And get my $500 back) and I will be eligible for larger lines of credit.

But a kid from the projects cant just get a Mastercard with a $80,000 line of credit. No bank is that stupid. Yet.

gerTheGreat

Debit Cards ftw

Jeanious

Joey the lips wrote: »

I find this question strange. If of course in theory a person runs up 20k in debt and feels they should not have to worry to much cause they dont pay it what is the differece between them and the @ssh@le bankers who have run up 2 billion dept and feel they should not have to pay?

Nicer suits!

gerTheGreat wrote: »

Debit Cards ftw

Absolutely, couldnt live without the Laser, but for online and over-the-phone stuff ya really need a credit card.

Can someone enlighten me about having more than one Credit Card though? Im sure theres good reasons and all but i cant think of any off-hand....everywhere accepts both mastercard and visa, is there something im missing?

gerTheGreat

coyle wrote: »

Absolutely, couldnt live without the Laser, but for online and over-the-phone stuff ya really need a credit card.

Ah so you've not heard of either Visa or Mastercard Debit cards.

Gummy Panda

Overheal wrote: »

But a kid from the projects cant just get a Mastercard with a $80,000 line of credit. No bank is that stupid. Yet.

He said he has 5 cards already, uses them for business and has a clean payment history. I don't think it would be that hard to convince one bank to give him a business credit card.

I've had a credit card since i was 18. I know how credit check and credit management works.