How to legally stop paying my credit cards? Have you been asking yourself this question lately? There are ways to not have to pay your credit card bills, but you need to know what they are. Below are a few ways to avoid paying these bills by doing it legally.
- File for bankruptcy. If you file for bankruptcy, you do not have to pay money owed on your credit card. This is one of the many stipulations that benefit those that file. You only want to file for bankruptcy if you are in serious overall debt and are not able to pay off your debts at all.
- Just don't pay. Pretty simple right, but it is true you don't have to pay back credit card bills that is the reason why credit agencies nag you by calling you all the time. It is also the reason why if you don't pay them initially they will agree to a far less settlement than you originally owed.
- The seven year rule. After seven years a credit card company has to erase all debts from their books, it is law. This means if you owe them $700 now in seven years if you don't pay that $700 becomes $0. You have a clean slate and do not owe them any more. Credit agencies know this and that is the reason they try to get some of this money back before that 7 year mark.
- Hire a credit agency to lower your bill. Get a credit card agency to cut your credit card bill. Many times an agency can work out a deal with your lender where you only have to pay a third of what you originally owed.