What happens if i stop paying my iphone contract?
I have a sprint iphone 5 but what would happen if i suddenly stop paying the contract? Will something happen to my phone or will i get arrested?
Your phone will be blocked and you will get a bad credit history and it will be possible you won't be able to take out another contract for a while
Here is the ENTIRE PROCESS…
You get a bill for example $100… You don't pay it… 30 days goes by… You get another bill for example $100, but this time it adds in the last months bill so now your total due is $200… You don't pay it… About 2 after the due date of the 2nd bill, you'll get emails anf phone calls from Sprint tell you, not asking you, to pay the bill or risk suspension… You don't pay… You are now suspended… Phone will not work… Sprint Notifies the 3 national credit agencies that you suck at paying bills… Your FICO Credit Score (which follows your Social Security number until you die) will drop by 40-70 points, just over a stupid suspension… We have gotten to the cancelation yet! You can pay the bill and a reconnection fee and keep your phone number and increase the FICO back to normal OR don't pay and loose your phone number and screw your FICO… You don't care… So you don't pay… 30 days from Suspension… You get told to pay or be disconnected… You think you are so cool… You want to stick it to the man so they don't get their money… So you don't pay… Sprint Disconnects you. You loose your phone number and Your FICO drops another 40 pts… But here is where Sprint give your the finger--- Sprint will then sell your $200 back bill to an outside collection agency (OCA---Sprint STILL GOT PAID!--- you are no longer an issue to Sprint--goodbye--- and now your the OCA's problem… On day 1--- the OCA will take the $200 bill, add 18%, drop your FICO some more, and call you and mail you debt letters… This will happen every month… And every month you choose not to pay, your FICO drops more… And if you choose to get another contract phone, expect a huge deposit based on your FICO credit check! LMAO!
this goes for any monthly bill…
welcome to life…
Sprint will eventually disconnect the service, flag your phone's ESN as bad, and send your account to collections.
The latter will trash your credit history.
A poor credit score will hamper your ability to do things like rent apartments, get television service (like cable, satellite), sign up for utilities, etc. As they may require to put down a larger down payment. You will also be at a disadvantage if you want to get a loan for a house, car, etc. And may affect insurance premiums. The derogatory mark in your credit report will last for something like seven years.
Yeah good luck dealing with a super bad credit score your whole life!
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