Sabre wrote:Barry informsThe only thing is though after a while they may put the debt over to a collection agency!That could be a problem if you have good credit it may effect you in the future getting loans etc.
If your credit is already bad or you are blacklisted you have nothing to loose!
I was threatened with that too! But those black lists were declared anticonstutional and illegal.
And it makes sense!, it's a judge who has to decide who's right, and you cannot fulfil a punnishment as if you were declared guilty just because a fúcking company decides it. They tried to do the black list thingy, but it's illegal now. Just make sure that is still working in your country, and if it is, protest!
Thats still legal here mate!
If you have a bad credit record companys will refuse you loans and hire purchase etc.And apparently it takes 5 years or something for your name to be cleared!
It used to be over here if you were black listed you could still get a mortgage though the interest was way higher than normal.Now with the way things are you would have no chance.
I would love to know the legal truth about this as I was blacklisted about 8 years ago after a run of bad luck!
Some people tell me that after 7 years debt is written off.
No one seem to know the facts on this matter for sure though!