I'm in a dispute with my credit card company over a few hundred dollars worth of fraudulent charges, going to arbitration next week. Due to a word limit here I won't get into details, suffice it to say I don't plan on paying for it win lose or draw.
I would like to use the space to tell you of my situation, and then ask whether a 7 year ding on my credit report should mean all that much to me.
1. I'm a 28 year old guy who purchased a home last year with a low fixed rate mortgage, and don't plan on moving. So I don't have the issue of finding an apartment or obtaining a loan with a blot on my credit report, that ship has sailed.
2. I'm self employed as a photographer and do not need to finance any of my equiptment, as I make good money doing it. The issue of finding a job with bad credit does not apply to me.
3. I just put a down payment on a brand new Jeep Wrangler. The jeep should easily last me more than the 7 years the entry would be on my credit report, so I won't need an auto loan in that time frame.
4. I'm not the kind of guy who finances things like furniture or tvs. I take loans for home and auto, and anything else, I save up and pay cash.
That being said, I simply can't think of anything I would need to do in the next 7 years that would require good credit.
If I lose my case and don't pay, will the 7 year blot on my credit report effect my life at all?
Added (1). And yes, as you can tell by my post, I CAN afford to pay the credit card bill, but principals are priceless. If I didn not make the charges, then I refuse to be conned into paying for the charges. I would take the ding on my credit report for a penny.
Read more: https://allmortgage.net/forum/is-there-any-need-for-a-guy-like-me-to-be-concerned.html
