Viewing a single comment thread. View all comments

patmorgan235 t1_iyahxwl wrote

Reply to comment by RHIT_Grad_1964 in Help! Drowning in debt. by nah_just_ocd

If I owe the bank $1000 I have a problem, if I owe the bank $100,000 the bank has a problem

9

RHIT_Grad_1964 t1_iyak64q wrote

That is basically what I’ve said. That’s why the CCs will accept lower amounts will a smile and leave your credit clear.

6

TheGunStays t1_iyaxplw wrote

Sure, on this one, specific debt.

But the bank/CC lender will also have the leverage to completely ruin your financial future for the next 7-10 years. The bank will likely be fine over that timeframe - trust me.

If you're like 19, bankruptcy/default may not be a terrible option. But if you're in your late 20's/early 30's, it will likely be one of the most significant events of your life - financial or otherwise.

4