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re: Car dealers have so much backlog, some 2022s are "new"
Posted on 12/2/23 at 8:57 am to SDVTiger
Posted on 12/2/23 at 8:57 am to SDVTiger
quote:
How so?
People who are earning decent salaries are going to have trouble getting major relief via BK. I don't even think 7 is an option.
They also likely do have some sort of investment/retirement or equity in their home to offset the debts.
You're coming off as Michael Scott, here.
It doesn't work that way.
And the impacts in the end, even if they could file BK, likely put them in a worse position in this inflationary environment. Getting credit now with a decent score/status is hard enough today. Imagine living the next 7 years in this environment with a BK over your head.
quote:
You can let the debt go
How do you "let" CC debt "go", exactly?
3
Posted on 12/2/23 at 8:59 am to SlowFlowPro
quote:
People who are earning decent salaries are going to have trouble getting major relief via BK. I don't even think 7 is an option.
you have to be the worst lawyer ever quote:
How do you "let" CC debt "go", exactly?
Stop making payments or go do a debt consolidation program
Posted on 12/2/23 at 9:27 am to SlowFlowPro
quote:
How do you "let" CC debt "go", exactly?
Well...you see...there are these secret programs the credit card companies don't want you to know about that can eliminate that debt.
They have radio commercials about it and everything.
Posted on 12/2/23 at 9:34 am to SlowFlowPro
quote:
How do you "let" CC debt "go", exactly?
Start by not giving the card issuer any current information about yourself. Then simply cease ALL communication with them.
Creditors will NOT throw good $ after bad unless they absolutely know they can rather easily collect all of it back.
After 7 years all records get destroyed and credit report clears. Some entities destroy records after just 5 due to storage costs. (bank I worked for got some good deals buying older portfolios due to such costs. Think about mortgage docs, stored for 30+ years even electronically adds up)
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