What would happen if EVERY person in the country stopped paying their debt all at once? related questions

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What would happen if EVERY person in the country stopped paying their debt all at once?2grouse2012-11-05 12:48:05
It seems that the debt is the American way of life today, and it seems to be getting better in the future unless drastic changes are made in our country . If the figure averaged over all U.S. households , the amount that comes to over $ 120,000 of debt per household . When 1 in 3 Americans have no savings , how do you think that many will be able to pay off your debt ? MedlinePlus MedlinePlus Many people will be in debt until you die , if you just make the minimum payments . But what would happen if everyone , all at once , stopped paying her credit card, mortgage , auto , and student loan payments ? Forever? What could I do to banks ? Can they really make their homes all at once? And have 60 million families homeless? There are not enough police to enforce that. Do repo men towing millions and millions of cars away at once? Not enough repo guys do that . The big banks really could not do anything if the entire population rebelled and stopped making payments on the debt for good, the banks would collapse because they make huge profits on interest and late fees . It may not erase the record of debt , but it would be impossible for banks to enforce anything if everyone rebelled at once. MedlinePlus MedlinePlus This idea would only work if literally everybody did. It would not work if only a few families did. It's time to stop being a slave to the big banks. It's time to stop being afraid .
What would happen if i stopped paying for a car?3Nastia2012-11-05 15:55:02
What if I leave my payment has been taken by a car that was volunteer completed almost a year ago , the car loan was canceled when they took the car back , but then I said that was part of the monthly payment of a personal loan and payments have continued what would happen if I just canceled it in the bank ?
What will happen if I stop paying my secured debt?1The One2012-11-02 15:38:02
In 2008 I bought a 07 yamaha R6 funded by HSBC at a high interest rate . The loan is secured by the bike . My payments are too high .
What would happen to the economy if people stopped taking out huge loans...?0DeAr_2012-10-12 19:57:19
and cash only bought things . and as for households at least put half .
If you incurr debt in abother country, will it be on your credit report in your home country?0jere2012-09-29 01:30:04
Someone asked this question , and I * think * I know the answer , but I'm not 100% sure. MedlinePlus MedlinePlus Suppose you live in a country (eg England ) and visit another country for some kind of long-term Visa . (eg, U.S. ). Say you incur a debt (student loans, car loans ) and then go home . Are debt appear on your credit report in your home country ? Or will you have a credit report on each country separately ? Are international credit reports ? Do Experiean and Equifax in Europe ?
What would happen if I left the country with this money?0~$$*|[email protected](6)[email protected]|\|(B)|_IF3*$$~ 2012-11-01 21:52:02
This is absolutely, 100 % hypothetical. I have no plans, I'm just curious. Suppose that I were to get a whole bunch of personal and payday loans from different companies, like 50 of them at $2000 each, totaling $100,000 dollars in all. Then instead of repaying them, I immediately left the United States and went to some tropical paradise where the cost of living is 5 times cheaper than the US, and just like, never re-payed the loans? The companies that loaned the money would then have pretty much no recourse. They can sue me in the US, but US civil courts have no jurisdiction in other countries. And even if they could make some kind of federal case of it, no company would be out any more than $2000, a routine default amount that would take more time and effort than it's worth to chase me abroad. Could I do that
If you move to another country and become a citizen of that new country, what happens to your credit/debt?0Vanilla2012-10-08 14:43:09
I just saw Sicko , and it really inspired me to look at moving to another country (maybe this momentum can not last , but still I wonder ... ) what happens to your debt here in the U.S. . States . or your credit score ? In other words , you can move to another country after becoming a citizen of that country , could you just start fresh ? Start over ? Leave it all behind ? So if I just left my apartment and car and student loans to be repossessed and ruin my credit score , what matters if I became a citizen of another country ? Please answer this question for me :)
What do you think would happen to this type of country? I am giving a "fictitious" example?0Taavon 102012-10-13 14:11:39
What do you think would happen to this (fictional, of course) in the country: MedlinePlus MedlinePlus A country that is losing its industry every day to other countries abroad .... MedlinePlus MedlinePlus A country that believes punishing individuals and businesses (whether small or large) for its wealth and driving abroad is reasonable to balance the budget ... MedlinePlus MedlinePlus A country that openly sexually harasses its citizens at airports and plans to do the same at all transport hubs and tourism throughout the country, and that is the creation of the Stasi informer-line as to which citizens can turn one in the other at will ... MedlinePlus ... MedlinePlus ..... But while security has 0% where it is needed ... on its own borders, and illegal trafficking criminals as heroes and victims with "dreams", while if the citizens themselves did the same in other countries would be imprisoned in labor camps ... MedlinePlus MedlinePlus A country that has bipartisan worthless acting different, but will end (whether through action or inaction) of the same policies that destroy corrosive ... MedlinePlus MedlinePlus A country whose media hypes plan an event for a man to burn the Koran, however, while ignoring a woman who is sentenced to death for carrying water to their friends in a foreign country because he was a Christian .. . MedlinePlus MedlinePlus A country whose attorneys work for the executive branch to say that torturing and raping children in front of their parents and crushing the testicles with pliers is well, helping to national security .... MedlinePlus MedlinePlus A country that gave unknown trilliions dollars to foreign banks to "save the economy", but not a penny to their citizens who owe large amounts of money from banks .... MedlinePlus MedlinePlus A country whose own debt will soon reach 100% of GDP .... MedlinePlus MedlinePlus A country that invites a foreign leader of a powerful country rising (which is massivly in debt) to discuss its soil, and allow the leader to use a podium with the presidential seal on it, while citizens the country do not understand the meaning of the symbols is happening .... MedlinePlus MedlinePlus A country that sends most of its troops abroad, while back home enforcemenet law are training foreign troops on the streets for some unknown event coming .... MedlinePlus MedlinePlus A country that builds nothing, except for the internment camps across the country, the use of which is still unknown .... MedlinePlus MedlinePlus Now tell me, everyone, what do you think would happen to this "fictional" country?
What happen if you borrow tons of money and then leave the country?2Ayensu2012-10-03 10:37:03
say you borrow money from everywhere in cash / check, payday loans , personal loans , open hundreds of credit cards and have transferred the cash advance . all within a month, a collection of more than 100,000 or more . and open a Swiss bank account and deposit the background , and then let U.S. and move to another country .. as China , Russia or somewhere where the government does not give a rat *** about the U.S. government .
Stopped paying credit cards for 7 years??!!!?2Njeri2012-10-27 03:36:02
I recently learned that my handicapped brother had gotten about five credit cards for seven years. He made a very poor choice of maxing them all ( a total of ten thousand or so) and then not pay a cent for them . He said he called for the first year , but now they have contacted in the last six years. So I guess they are definitely a kind of collection agency. But I wonder why just stopped trying to get the money . Each card was only in 1500 that maybe therefore is that it is a small amount stopped trying ? It would not be hard to find, so I can not imagine why they were not seeking repayment of what you owe. He's never going to need a loan , credit or, for that matter considering his disability and how it affects your life , so it has no intention of making a payment and seems to think that everything just let it go . Have they ? What will happen if you continue on this path ? Any suggestions or advice would be greatly appreciated.
I finance a car for a friend, his name is not on the loan, he is got the car but he stopped paying,?14Shirley2012-09-10 16:10:02
now I have to pay for the car , but what I can get it back?
My sisters ex husband has stopped paying alimony?1biti2012-10-16 06:33:02
My sister divorced because she found someone else . MedlinePlus MedlinePlus Basically the house rose , children and gave the car , it was a nice thing to do , as it could have been . MedlinePlus MedlinePlus Basically , she has no job and is dependent on him to repay student loans for women's studies , as well as child support and alimony . MedlinePlus MedlinePlus Has failed to pay child support as well. MedlinePlus He says he is barely able to pay for your medicine . BS . It's called insurance . I should get some MedlinePlus . MedlinePlus I have really wanted to turn around to wherever the hell it is and kick his . MedlinePlus *** MedlinePlus My sister wants to know if there are legal options for this?

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