It's an open secret that if a debtor is willing to wait long enough, he can probably get away with paying almost nothing, as long as he doesn't mind hurting his credit score.
Sentiment: NEGATIVE
Credit is an 'I love debt' score.
If you put a purchase on a charge card, you're paying it off forever. You have to know how to pay it off before you go deeply in debt.
I generally encourage people to make good on debts when they have enough money to repay them. But once a delinquency has been reported to a collection agency, paying it off won't help your FICO score. The damage has already been done, and the blemish will remain on your credit report for seven years.
No man's credit is as good as his money.
The real danger with debt is what happens if lots of people decide, or are forced, to pay it off at the same time.
If you're trying to get out of debt, you have to be willing to treat everything as expendable.
It's not long-term debt if the money is immediately paid back.
I never did buy things on credit, I always paid for 'em, because I can't see much difference in paying for something and just waiting a week and pay interest on it; that looks foolish to me.
There is nothing that puts a man more in your debt than that he owes you nothing.
I'm not the judge of who that is, but I am a believer that no debt in the universe goes unpaid. If you try to buy early, you'll pay late.