Irresponsible Question Time - What happens if I just decide not to pay?

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  • pupgrum
    pupgrum Posts: 130 Forumite
    bigadaj wrote: »
    Not necessarily true by any means.

    It can stop you getting work from clients, you obviously won't get a mortgage, would struggle to rent a house etc etc

    If you are say a self-employed mobile hairdresser, your job doesn't require a practising licence which can be affected by bankruptcy, and you have no premise you operate your business from, you live in cheap rented property, you have withdrawn all your bank money and stored the cash somewhere but pretended you lost it gambling away, and you have no intention of ever buying property or improving your lifestyle... you can get away with this if you're happy to live on basics. People only do this out of extreme grudge against the credit card provider.

    Alternatively, leave the country and the repayment of debt can't be enforced.
  • Dan83
    Dan83 Posts: 672 Forumite
    First Post Combo Breaker First Anniversary
    I love questions like this.

    People get on there high horse and want to bring back debtors jails, others answer the question that was asked.

    Good on you pal, your taking on the system, I hope you win.
  • bigadaj
    bigadaj Posts: 11,531 Forumite
    Name Dropper First Post First Anniversary
    pupgrum wrote: »
    If you are say a self-employed mobile hairdresser, your job doesn't require a practising licence which can be affected by bankruptcy, and you have no premise you operate your business from, you live in cheap rented property, you have withdrawn all your bank money and stored the cash somewhere but pretended you lost it gambling away, and you have no intention of ever buying property or improving your lifestyle... you can get away with this if you're happy to live on basics. People only do this out of extreme grudge against the credit card provider.

    Alternatively, leave the country and the repayment of debt can't be enforced.

    Does this sound like a mobile hair dresser?

    You probably won't be able to renew your tenancy as a private tenant as you would fail a credit check.

    Trying to play the system is probably more complicated than just paying the debt assuming you can, still it's personal choice.
  • pupgrum
    pupgrum Posts: 130 Forumite
    edited 8 October 2016 at 4:11PM
    bigadaj wrote: »
    Does this sound like a mobile hair dresser?

    You probably won't be able to renew your tenancy as a private tenant as you would fail a credit check.

    Trying to play the system is probably more complicated than just paying the debt assuming you can, still it's personal choice.

    LOL@credit check. I have lived in numerous properties rented out by private landlords who don't bother with credit checks. Just for the record though, I do live in a house owned by me. But if I were to test out my theory, it's highly possible when you can easily find rented property without going through credit checks.
  • adnanjanuzaj
    adnanjanuzaj Posts: 24 Forumite
    OP here. I usually pay 6 months rent upfront whenever I rent which seems to get round any issues with credit checks. Although my credit rating has always been very strong... hence getting a 10k interest free credit card for about 24 months!

    Also considering some time out of the country. How long though ? I would come back eventually... I'm guessing a year or two away isn't going to make the debt disappear.
  • agrinnall
    agrinnall Posts: 23,344 Forumite
    First Post Combo Breaker
    Dan83 wrote: »
    I love questions like this.

    People get on there high horse and want to bring back debtors jails, others answer the question that was asked.

    Good on you pal, your taking on the system, I hope you win.

    So who do you think pays for the OP's theft? Perhaps you believe "the system" has a pot of money that covers such things. Or perhaps you are also looking for a luxury under-bridge property.
  • csgohan4
    csgohan4 Posts: 10,587 Forumite
    First Anniversary First Post Name Dropper Photogenic
    Op I hope you get everything you deserve


    Karma always bites back
    "It is prudent when shopping for something important, not to limit yourself to Pound land/Estate Agents"

    G_M/ Bowlhead99 RIP
  • bigadaj
    bigadaj Posts: 11,531 Forumite
    Name Dropper First Post First Anniversary
    edited 8 October 2016 at 5:28PM
    adnanjanuzaj wrote: »
    OP here. I usually pay 6 months rent upfront whenever I rent which seems to get round any issues with credit checks. Although my credit rating has always been very strong... hence getting a 10k interest free credit card for about 24 months!

    Also considering some time out of the country. How long though ? I would come back eventually... I'm guessing a year or two away isn't going to make the debt disappear.

    I reckon about fifty years away would be just fine.

    Travel always broadens the mind, maybe spend a bit of time in Dubai for example, and try the same trick, would be worth a go.
  • JES_F1
    JES_F1 Posts: 753 Forumite
    First Post First Anniversary Photogenic Debt-free and Proud!
    adnanjanuzaj wrote: »
    I owe money on a credit card. It's in an interest free period for another 12 months. I've used it for almost all my purchases for the past year and now owe nearly £10k. Make the minimum payment each month of about £100.

    I have no assets - no mortgage although I do have a car.

    I know a lot of people will frown on this but if I just decide to never pay it back once the interest free period finishes. What's the worst that can happen?

    I know my credit rating will be damaged but dont' really care.

    Edit: I have the money to pay it off but it is not held in accounts with the organisation with whom I have my credit card.

    You have the money, pay it back.

    As you'll see from my signature, I got myself into a financial mess, purely from just spending on anything I fancied. By the time reality hit, I had over £45,000 of debt and had to enter into a debt management plan to pay it back. Almost six years later, I'd paid back £50,000. It was hard work but at no time did I ever consider running away from my responsibilities.

    My financial situation is now excellent. I have savings, two credit cards that I pay off in full each month, and can afford to live well with a clear conscience.
    Debt Jan 2008: £45,566. *** June 2013: DEBT FREE! ***
    Paid back just under £50,000 due to some interest added.
    Dealt with my debt through a Step Change     (CCCS) DMP.
    DMP Mutual Support Thread Member #240.
  • foxtrotoscar_2
    foxtrotoscar_2 Posts: 1,717 Forumite
    Dan83 wrote: »
    I love questions like this.

    People get on there high horse and want to bring back debtors jails, others answer the question that was asked.

    Good on you pal, your taking on the system, I hope you win.



    Guess who the losers are? It sure isn't going to be the credit card company. The loss will be shared by their paying customers. Not the sharpest tool in the box are you? It's theft pure and simple. Would you be applauding them if they mugged you in the street and stole your money?
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