Credit cards: When millions of people are out of work, with nearly zero foreseeable job prospects in the coming months, won’t credit card companies seriously clamp down on credit limits or even cancel cards?

This comment was posted to reddit on Mar 23, 2020 at 9:17 am and was deleted within 14 minutes.

Credit cards: When millions of people are out of work, with nearly zero foreseeable job prospects in the coming months, won’t credit card companies seriously clamp down on credit limits or even cancel cards?

Huh? You can easily dodge a credit card by just not paying it and in desperate times credit cards will offer to settle on pennies on the dollar especially the longer you refuse to pay it.

Credit cards are the easiest thing to not pay and get away with never having to pay because many states have statutes of limitation on how long they can choose to take legal action after which point they have no means to collect the money Even though they might try to make you think they do.

sometimes when you get a call from a collection agency they are literally asking you to pay for a previous debt even though they have no legal means to make you do it and if you agree then they have an agreement that they can use against you.

It seems a lot easier to not pay the credit cards than to dodge the landlord.

/r/CoronavirusRecession Thread Parent

Credit cards: When millions of people are out of work, with nearly zero foreseeable job prospects in the coming months, won’t credit card companies seriously clamp down on credit limits or even cancel cards?

Recently removed from /r/CoronavirusRecession

More Random Comments