I follow Dave Ramsey s program and according to him, it is best if there s a lot of money in the bank than an awesome credit score. At the end, I am not paying this, ever! Can I be suit or go to jail for this in the long run?
Liel: FYI: The account Never@Yahoo.com is used by Dave Ramsey.
You should pay what you owe. 1250 is really not that much money, and should be paid, as part of your debt snowball – baby step 2. https://www.daveramsey.com/baby-steps/2
Yes, you can be sued, most likely in small claims court. You don't need to be present to you to lose your case. You really don't want to be sued, and have your wealth taken by force, or made such that you must pay it, in order to sell any assets that you have, because your bank account, tax refund, cars, boat, or home have had a lien attached to them via a small claims court action.
Your shortsightedness will come back to haunt you. KARMA works, even if you don't believe in it. Treat others as you would like to be treated. Pay your debts.
You never know when you might need this medical facility, or people to perform some life-saving technique, and may refuse you service because of your failure to pay an old debt.
Owing someone money is a civil issue unless the money was obtained using illegal means. For a medical debt, you will not go to jail.
The creditor can, however, sue you and get a judgment against you. With a judgment, he can garnish your paycheck, seize your bank accounts, and put liens on any property that you may own.
I have listened to Dave Ramsey, and personally, I think he is a rip-off artist. I do not agree with everything he says. It is NOT better to have money in the bank than risking a judgment against you.
There is also something called the statute of limitations on debt. Look it up. If the debt is outside of statute, something Old Dave would never tell you, you no longer have a legal obligation to pay. It is your responsibility to inform the creditor of your rights since there is no statute of limitations on how long he can attempt to collect.
Hope this helps.
You cannot go to jail for this.
You can be sued.
Either way, not paying will cost more than paying. The price of car insurance is based on your credit. Your car se will cost more if you don't pay your medical collection. Most rental apartments and some jobs check credit and won't be available to you if you have an unpaid bill in collections.
You don't go to jail for debt. You can be sued. If you don't care about your credit score that's fine. Just realize , then you'll never get a loan for a car, or a house. You'll never get a place to rent. Some employers check credit history. I hope you're OK with paying cash for everything.
What's wrong with paying what you owe.
If you don't pay you're a thief.
You're a very cocky son of a b,tch.
This is the same thing as stealing.
You got goods and didn't pay.
You could end up in jail for another reason.
Yeah pay your debts.
And Dave Ramsey would also tell you to pay your debts. No you will not go to jail but you will end up paying for your decision in some way which will cause you more trouble in the long run than it's worth.
I would pay it but in small amounts. If you don't pay you will have bad credit and you will be homeless for the rest of your life but what can save your credit is pay little each month like 20.00 on it and get a secured credit card.
We don't have debtors prisons so you wont go to jail.
You could potentially be sued over it. Money in the bank is easy to attach so they like that.
That said, its incredibly short sighted to have bad credit. It limits you in many ways.
Everyone would like a million in the bank but you don't get that by having bad credit.
I have plenty of cash, stocks and I have good credit.
Ive had good credit all my life but I refused to pay a massively overstated hospital bill and massively overstated lab work bills.
Those didn't kill my credit because I paid all my other bills all my life but they didn't help.
Most people cant buy a house without credit. I did but most people don't want to wait until they can save that much. I lived in a rough area for work. I didn't want to buy in that area but I worked there so it saved me a lot of driving. Still, I probably should have financed. At the time, I couldn't prove my income because I was behind on my income taxes and they wanted to charge a higher rate.
I was self employed and taxes were a pain. I didn't owe much but I didn't have the pay stubs lenders want to see.
Shortly after I started my business, I ran into a situation where I needed more cash than I had. Fortunately, I had built credit for the prior 4+ years so I went down to sears with my Discover card. (Sears used to own discover) And I walked out with $3000. I put that in the bank to cover the check I wrote but didn't have cash for.
Back then, there were no cash advance fees but the rate was about 22%. That bugged the crap out of me but, I knew I wouldn't need it for more than 60-90 days and I would make 8-10 times the interest.
Sure enough, I paid about half of it back within 3 weeks and the rest after 2 months.
That was the LAST time I ever went in actual debt. I still use credit card for rewards but I pay them in full every month before they start accruing interest.
Ramsey doesn't like to bring that up because most of his listeners are deeply in debt and need to get out. But lots of people like me use credit to their benefit.
Even it its just 2%. (I get 2% on every purchase via Fidelity Visa, and a month to pay)
You cant get that with bad credit.
Discover has a lot of 5% deals.
Prepare to have your wages garnished up to the amount of your debt. You likely will lose about a third of your take home pay every pay period until it's paid off. If you don't have a job, they likely can attach your bank account, your tax refund, or other cash assets.
You can't go to jail. You can be sued and if they win, they can get a court judgement to take the money from any cash resources you have including garnishment of wages, bank savings/checking accounts (but not 401k or any retirement funds).