How long does bad credit stay on a credit card

[Ursus]

I ran up close to $20,000 of credit card debt and didn't want to pay it back. The banks were given money in 2011 to cover their bad spending in the wake of the financial crisis, so I wrote them a letter stating that I would not give them money that the Governent of Canada already gave them on my behalf. In essence, I wasn't going to pay the banks twice for the same credit card loan.

It has been 6 years since I refused to pay my credit cards. Does anyone know how long it is before that non payment info is wiped from your record?

Please advice. Thank you.

 

[snoopdoggie]

I'm not an expert, but if you declare bankruptcy, your debt will be erased. But you should find some good financial advisors and talk to them before you do anything.
I'm surprised your credit card company didn't call the recovery bureaus yet.

 

[IronHeart]

Didn't this guy claim to have $900,000 retirement fund, and a new house in London, how the hell do you get mortgage if your credit history sucks?

This guy is a liar and cannot be trusted.

 

[snoopdoggie]

Didn't this guy claim to have $900,000 retirement fund, and a new house in London, how the hell do you get mortgage if your credit history sucks?

This guy is a liar and cannot be trusted.

He's probably trying to find out for his Indian friend.

 

[Ursus]

I didn't say I couldnt pay my credit card. I said I chose not to. Big difference. No one runs up 20,000 of credit card spending unless they have a good asset base and credit record beforehand, as I did.

And you can easily get a continuation of your mortgage, term after term, as long as you don't switch banks. The banks are supposed to do a credit check everytime you renew, but do you think they do that for their millions of customers each time? Answer: No, they don't. Unless they have reason to do credit check after credit check upon existing customers, they often won't do one at all.

And you can remove your name from the mortgage app if your partner has a good credit rating. And you can also go through secondary channels if need be, although I didn't do that.

And lastly, it isnt hard to get a second set of IDs so you can separate your financial transactions between the two IDs, if you need to. I wouldnt ever admit to using 2 IDs, but some people do. You can get an Ontario Driver's Licence that swipes properly, with any type of personal information you want put on there, from suppliers in China, for $100 USD. And once you have once piece of ID, you can get a second and a third etc., and then eventually, you can get a Canadian Passport with that second set of ID info put on it.

I know the answer to my question, I was just developing an interesting thread for those that might not knw.

Dont assume to know me, because you don't.

SMH.

 

[snoopdoggie]

I didn't say I couldnt pay my credit card. I said I chose not to. Big difference. No one runs up 20,000 of credit card spending unless they have a good asset base and credit record beforehand, as I did.

And you can easily get a continuation of your mortgage, term after term, as long as you don't switch banks. The banks are supposed to do a credit check everytime you renew, but do you think they do that for their millions of customers each time? Answer: No, they don't. Unless they have reason to do credit check after credit check upon existing customers, they often won't do one at all.

And you can remove your name from the mortgage app if your partner has a good credit rating. And you can also go through secondary channels if need be, although I didn't do that.

And lastly, it isnt hard to get a second set of IDs so you can separate your financial transactions between the two IDs, if you need to. I wouldnt ever admit to using 2 IDs, but some people do. You can get an Ontario Driver's Licence that swipes properly, with any type of personal information you want put on there, from suppliers in China, for $100 USD. And once you have once piece of ID, you can get a second and a third etc., and then eventually, you can get a Canadian Passport with that second set of ID info put on it.

I know the answer to my question, I was just developing an interesting thread for those that might not knw.

Dont assume to know me, because you don't.

SMH.

Why hasn't the credit bureau come after you yet? You're just making up this story. Right?

 

[topo112]

I didn't say I couldnt pay my credit card. I said I chose not to. Big difference. No one runs up 20,000 of credit card spending unless they have a good asset base and credit record beforehand, as I did.

And you can easily get a continuation of your mortgage, term after term, as long as you don't switch banks. The banks are supposed to do a credit check everytime you renew, but do you think they do that for their millions of customers each time? Answer: No, they don't. Unless they have reason to do credit check after credit check upon existing customers, they often won't do one at all.

And you can remove your name from the mortgage app if your partner has a good credit rating. And you can also go through secondary channels if need be, although I didn't do that.

And lastly, it isnt hard to get a second set of IDs so you can separate your financial transactions between the two IDs, if you need to. I wouldnt ever admit to using 2 IDs, but some people do. You can get an Ontario Driver's Licence that swipes properly, with any type of personal information you want put on there, from suppliers in China, for $100 USD. And once you have once piece of ID, you can get a second and a third etc., and then eventually, you can get a Canadian Passport with that second set of ID info put on it.

I know the answer to my question, I was just developing an interesting thread for those that might not knw.

Dont assume to know me, because you don't.

SMH.

And you say only blacks commit crimes. Whites and asian just do it quietly and for way more money.

 

[Ursus]

Collectors come after you. The credit bureau doesn't do anything. They simply provide reporting services.

All you have to do when you get a call from a collector is say:

I don't owe you any money.

Never acknowledge any debt you owe to any creditor. People make the mistake of agreeing with creditors when they call, that they owe debt. Never acknowledge that you owe any debts.

 

[Ursus]

And you say only blacks commit crimes. Whites and asian just do it quietly and for way more money.

Not a crime. The banks loaned me money, unsecured. I didn't pay it back because they received $30 Biliion dollars each from the government. Why should I pay the bank after they already got billions from the government, for supposedly, bad loans? That's getting paid twice.

You don't have to pay back unsecured loans. Not in Canada.

 

[snoopdoggie]

The collection agency can garnish your wages or seize your accounts.

 

[H.I.V.]

 

[Ursus]

'His stupidity............'

not

'He's stupidity'

At least proof read your tweets, for fucks sake.

 

[Ursus]

The collection agency can garnish your wages or seize your accounts.

Not for unsecured debt.

 

[topo112]

Not for unsecured debt.

How can a rich man like Trump declare bankruptcy and remain rich? They have their ways but it feels like criminal activity for the rest of us.

 

[booblover]

Not sure if this is a serious question but generally it lasts for 7 years. However, if you screw a particular bank they can black list you for life. They have no obligation to take you back ever.

 

[Ursus]

How can a rich man like Trump declare bankruptcy and remain rich? They have their ways but it feels like criminal activity for the rest of us.

As I said, it isn't criminal to not repay unsecured loans. The reason why they charge you 20% for credit card debt is becuase it isnt secure against anything.

It is more criminal that the banks got bailed out by the government of Canada, then lent money to Canadians at 20% through their credit card agreements.

Whenver I walk into the bank and they refuse to let me use their washroom, I let them have it and yell at them for getting the bailout money. They always end up letting me use the washroom after I start giving my speech.

Fuck the banks. Assholes.

 

[snoopdoggie]

As I said, it isn't criminal to not repay unsecured loans. The reason why they charge you 20% for credit card debt is becuase it isnt secure against anything.

It is more criminal that the banks got bailed out by the government of Canada, then lent money to Canadians at 20% through their credit card agreements.

Whenver I walk into the bank and they refuse to let me use their washroom, I let them have it and yell at them for getting the bailout money. They always end up letting me use the washroom after I start giving my speech.

Fuck the banks. Assholes.

The banks have washrooms for their employees. It's not a 401 Onroute service station.

 

[ThePilot]

10 years for a bankruptcy. most other credit good or bad falls off after 7 years

 

[Ursus]

The banks have washrooms for their employees. It's not a 401 Onroute service station.

If they can accept 30 Billion each in bailout money from the Canadian government, they can install a public washroom in each of their branches.

McDonalds will let you use their washroom and they never received any bailout money, period.

 

[topo112]

If they can accept 30 Billion each in bailout money from the Canadian government, they can install a public washroom in each of their branches.

McDonalds will let you use their washroom and they never received any bailout money, period.

So banks get way more money than blacks in corporate welfare transactions from government.