Has anyone ditched their debt?

Im around 8 grand in debt with my bank. Im gettimg charged ridiculous prices in overdraft fees and interest. Some of my friends have just changed their personal details and closed their bank accounts. I ve tried to work out a reasonable payment plan but they are obviously making too much money out of me to come to a civil agreement. I believe that if i do close my account the debt will then go ro a 3rd party debt collectors. Can they then officially take me to court? I know this will have a huge impact on my credit scores too, but im beyond worrying about that at this stage! Any advice would be greatly appreciated! Thanks in advance.

22 Answers

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  • don r
    Lv 7
    2 years ago

    Pay your bills. Stop spending more money than you have. You cannot afford credit, so stop using it. Stop thinking you have an excuse to not pay.

  • 2 years ago

    No

  • 2 years ago

    You are really going to have to talk to someone because if you ignore it much longer you will end up with a huge legal bill.Prolong it and you can be prosecuted.

  • 2 years ago

    From my experience, you CAN'T close the account until the debt it settled.

    You also CAN'T change your name to escape debt... Creditors have access to name change info.

    You CAN'T change your ssn either.

    Stop listening to idiot friends. They have not done any such things to escape debt.

    Bankruptcy might... But that costs a few grand too, so it seems silly to trash your credit over 8 grand

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  • 2 years ago

    The debt consolidation agency is a good idea, but if that don't work bankruptcy may be your only real alternative.

  • 2 years ago

    They will take you to court

  • ?
    Lv 6
    2 years ago

    Murder your credit over $8k?

    Geez, you can't do that!

    There has got to be a debt consolidation service or even a new loan/credit line that can resolve your past due debt with one company and provide a better rate of repayment on the new.

    Of course, this is assuming you didn't already do that.

    If you can't handle credit, then maybe lose it and go bankrupt. But you should be able to get past a $10k problem without snuffing your hope of a future loan.

  • 2 years ago

    Your credit is going to take a huge hit and follow you for over 7 years on this. The bank charges overdraft fees for ANYONE who is taking more out of their account than they have. It's legal and what's EXPECTED. Sit down with a debt consolidator and fix this issue and learn to live within your means.

  • Judy
    Lv 7
    2 years ago

    They might think they have. But you can't change the details that will matter if you try to get credit in the future

  • ?
    Lv 7
    2 years ago

    Yes they will take you to court. You can cou t on it.

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