What will happen if you do not pay your credit cards?

Answer

I had written above where I had a court date and had lost my job in 2005. I called Legal Aid and they got me out of that credit card debt without going to court. It got written off and she told me on the other ones to not worry unless I got a court order. Its been almost 3 yrs and nothing. Most were written off. I told the truth...I was victim of credit card fraud and it ruined my credit for over 9 yrs. I still have some show on my credit, but most are gone. The attorney told me not to talk to them and not to respond to any of the mail. I'm glad I took her advice. Maybe in another year this will be gone. I feel for anyone with credit card debt that is theirs...in my case, it was not even mine but all these years of misery. If you are a debt collector out there, hope you can sleep at night. Some might be telling the truth as I was.

Answer

The above poster is an exception to the rule and he's had some rough luck.

When you get a credit card you are borrowing money just like you would from a bank and you pay interest on any money owing. If you just make your minimum payments you'll drown in the interest rates alone. Most are around 19%. If you can't afford an item, don't buy it! Credit cards for the average card holder should only be used for emergencies such as health or a vehicle breaking down or an appliance breaking down. Other than that, don't use plastic!

If you are working then they can guarantee your wages. It's best to come clean with the credit card company and according to Oprah (in the U.S. at least) the Credit Card Companies have to lower their interest rates to help the individual pay off their debt. They could also have collection agencies hounding you. You borrowed their money, you owe it to them. Short of losing your job, ill health you have no excuses.

Answer

I found out that losing a job or having ill health does not matter to them. I used my unemployment money to try to keep up with payments. When I told the collection agency person that, she said "Well, you SHOULD have !"

First answer by anonymous. Last edit by Mint Milano. Contributor trust: 2 [recommend contributor]. Question popularity: 731 [recommend question]

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