Does anyone know what will happen if I dont pay my credit cards?

Question

If I dont pay my credit cards, Im seperated and dont have the money, can they come after any of my assets, everyone I talked to said no. I know my credit will be ruined but thats the least of my worries right now.

Answer 1

They can garnish your wages if you are employed. They can force you into bankruptcy by getting judgements against you. They can ring your phone off the hook ... and they will.

Answer 2

Depends on how much money you owe. Less than $5000 and you will get calls from collectors every day threatening you to take you to court. Now if you owe $100,000 rest assure they will sue you. Once you get sued, depending on the state laws, they can garnish your wages, takes your possesions and yada yada. In texas, by law they can't garnish your wages nor touch your house. Check what state laws apply to you.

Technically they can sue you for $1. But they usually dont sue for small fish but they threaten you with it.

Not paying will NOT result in jail unless it is fraud. Technically, they allowed you to spend what you have so it isn't fraud per say. We did abolish debtor's prison a long time ago but thats only for unsecured debt. Tax and child support payments if you miss will get you jail time!

Answer 3

Yeah your credit would go bad and you might go in debt I recomend you act fast and go to an expert at debt situations you might want to try these experts.

Answer 4

If youre willing to ride out the sol, good luck

but there are options out there. I went thtru

the same thing, separated with tons of

debt although I kept my home I dont want

to lose it, you can change your phone

numbers that will help but only for a while

your best bet is a prepay celphone for a

year that way they cant locate you any

other way they can track you down when

calling friends/family, just give them your

phone no. no one else. Youll have 7 years

of bad credit no loans. now this doesnt

mean that they cant sue you, depending

on the amount, but first they have to serve

you a summons, meanwhile I would have

a small savings accoumnt whatever you

can put away and make an offer to one of

your creditors that way you can show the

judge your good intentions to pay, people

fall into hard times, sickness, divofrce,

unemployment, the judge isnt stupid he know

all this, he knows the credit card companies

will add on tons of interest, over limit fees

they have to show him the original debt

of course if kyou owe too much debt and

dont have assets, to protect my home I

would declare bankruptcy, uyou would still

have bad credit but you have a fresh start

talk to a bankruptcy lawyer.  Good luck!!!

Answer 5

They can ruin your credit. They can sue you and obtain a judgment. After they obtain a judgment, they can execute the judgment against you by taking things away from you. What they can take away depends on your state laws.

I know that credit worries may be the least of your problems right now, but 5 years from now you will have long been finished with your ex-(whatever), but still living with the consequences of poor credit.

If there is anything you can do to keep these credit cards from charging off, you would be better off rising above whatever petty c**p your ex is shoveling and protecting yourself financially.