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    what happens when i stop paying on my credit cards?

    0  Views: 529 Answers: 6 Posted: 7 years ago

    6 Answers

    1. Your credit rating ceases to exist.


    2. You will no longer be able to use the cards.


    3. You are dragged into court & forced to pay.(As Colleen pointed out.)


    Contact the organisations you are in debt to & give a valid explanation of why you can't pay.They will expect you to make some committment to paying the debt no matter how small.

    Go ahead and stop paying, disconnect you phone while you're at it and forward all your mail. Have a friend answer the door the day you are served...........

    robertgrist

    California Girl, That works here in California sometimes. It will not work with student loans.

    Each company can drag you into court and sue you for the amount owed plus court costs. 

    The company will haunt and harass you, debt collectors can seize your property, you will be black listed.  If you can't afford your credit card payments, contact a consumer credit counselling agency who can help you explore your options. Avoid the damage to your credit rating if you can, but make sure you realize the consequences of walking away from your credit card balance.

    If you at the point of going  bankrupt contact you're local legal aid or a lawyer 


     

    your creditcard balance will not come down and interest will accumulate. SOON YOU MAY HAVE A VISITOR KNOCKING ON THE DOOR!



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