It works great if you want to watch tv in the dark.
If I just ignore my bills, will they disappear? That works in the real world, right?
No, sorry, you will be socked with late fees.
Lol. I've got some bills I'd like to ignore... If you don't pay your bills your credit will suffer. You'll wind up having to pay more for almost everything. You'll have to put down larger deposits for insurance, cell phones, cable etcetera. Some services you won't even qualify for like home security systems.
On the positive side negative credit reports can't stay on your record for more than 7 years. Down side is that's a really long time, and some companies will renew their negative report every so often just to keep it from being kicked off your credit report. :(
What an absolutely wonderful idea. :)
I used to work with a man who not only drank too much but was very slow at paying his bills. He got home from work one day, half-shickered, and found an overdue account demanding immediate payment. He wrote, "My creditors fall into three categories: Those who will get paid, those who might get paid, and those with no chance at all. I regret to advise that you fall into the latter category."
His letter was produced in court and, yes, he eventually paid.
7 years after they file the claim with credit union.
I know someone like this.. I don't know how they sleep at night, at least communicate with your creditors and let them help you set up payments.
Completely ignoring is insane.