Technically untrue. A cc is a unsecured loan. U can default but for 7years your credit fucked. Most of the time cc company will offer to settle with you for much lower cost.
Dont recommend this, maybe dif in canada but cc will hassle the fuck out of you and your credit score will drop to lowest 3-400ish i think& tag u so u cant get other unsecured loans. Now a secured load from a bank they can take u to court take assets ext.
Bad route to take everthing else in your life will increase insurance, cant get appartment, even some jobs ect....credit score even though a fucked system is important
Technically untrue. A cc is a unsecured loan. U can default but for 7years your credit fucked. Most of the time cc company will offer to settle with you for much lower cost.
Dont recommend this, maybe dif in canada but cc will hassle the fuck out of you and your credit score will drop to lowest 3-400ish i think& tag u so u cant get other unsecured loans. Now a secured load from a bank they can take u to court take assets ext.
Bad route to take everthing else in your life will increase insurance, cant get appartment, even some jobs ect....credit score even though a fucked system is important
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