| young brother ignoring creditors My brother ran up a $200 phone bill while attending a college in NY (in the Fall of 1998 - he was 18 at the time). He has recently moved in with me in Texas. He assumed that the phone bill "magically" disappeared since he stopped receiving bills while he lived in NY. Just recently we starting getting daily phone calls from a collection agency for this debt (which has now somehow grown to a $600+ debt). What sort of bad things can happen if he does not get this (and other debts) taken care of? (He has the "if I ignore it, it will go away additude"). He will be getting a large inheritance (200K+) and I want to teach him that when you have money, you have to be responsible. I fear that ignoring creditors will cost him big. Am I right? ...and yes I give him the arguement "Bad credit = no loan/mortgage/credit card" which he explains "I'll just buy everything outright with my inheritance, use a secured credit card and then I'll never need good credit". If someone could give me some good advice on what really bad things could happen when you ignore creditors that would be very much appreciated. |