I cant pay my credit cards...i am so far behind....what will they do to you if you never pay them?

Question

will they put me in jail? can they take everything you have?

Answer 1

They will take everything you have that would be equal to your debts. If that is not enough, they might press charges in accordance to your contract

Answer 2

If you never pay your credit cards, the credit card company will send your account into collections. Then, a collections representative will begin leaving messages at your home and maybe even calling your job. You will be sent letters from the collections office about your delinquent account, and you may even be contacted by a lawyer. You could also be brought into court, and ordered to pay by a certain date.

It would probably be better for you to file bankruptcy, then to simply never pay. That costs about $2000.00. It should only be used as a last resort though, because it really destroys your credit.

I would say, definitely call the credit card companies, and explain your situation. See if they will make payment arrangements. After all, it's better than nothing at all, and they do want to get paid. I'm sure they will work with you, if you level with them. Even if you can only pay a small amount, it's better than not paying anything at all. Are you able to get a second job, or work some extra hours? That would be helpful, so that your interest rate doesn't keep rising. It's better for you in the long run, even if you're embarrassed or nervous, to just call. Let them know what's going on, and that you are willing to do your best. I hope that helped. This is coming from someone who got scared and did the opposite, and wound up having to learn the hard way. Keep your chin up, it will get better. I wish you the best of luck.

Answer 3

Very bad things.

They will hound you for the debt relentlessly.

If you don't pay, then they will sue you.

Then they will get a judgment against you.

Then they will attach your personal possessions and begin taking them from you to execute the judgment.

Then you will have a judgment that remains on your credit for the next 10 years MINIMUM.

If you think you have it bad now, wait and see what happens if they get a judgment against you.

If there is no way you can possibly pay your debts, go speak to a bankruptcy attorney today and go over your options.

on edit:

Forgot to mention wage garnishment. It's early.

Answer 4

They cannot put you in jail; this is a civil claim.  They cannot force you to sell your mode of transportation (unless you have 2 cars for just you), they cannot take your house.  They can't make you sell TV's, etc.

What they can do is take you to court, get a judgement, then go back and get an order so they can garnish your paycheck (up to 25%) and freeze your bank account, until they are paid back.  And contrary to popular belief, this doesn't always take a long time and they don't always need a large amount of debt to go after you...some cards move swiftly for any amount of money.

However, there is a time frame where they can sue you.  Check with your state's SOL.  You still owe the money, but companies have a deadline where they can sue you.

If it's within the SOL, you need to call the company, and/or collection agency, and work out a payment plan.  Get a second job if you have to.  Last thing you want is to get your paycheck and see 25% of it is missing.  Most companies will work with you as all they want is the money you owe them.

Answer 5

They will not put you in jail, or take anything you have except for your $$$.  All they are interested in is the $$ you owe them.

There first step after the calls is to turn the debts over to a collection agency.  Then they will garnish your wages, in order to get there money back.

It will also hurt your credit rating so in the future when you want to purchase big items, you will have to pay higher interest rates.

Your best bet right now is to talk to the lenders and make some type of payment schedule with them.  You call them don;t wait for them to chase you down.  They are much more willing to discuss interest relief if they believe that you are sincere in your attempt to pay off your debts.

If you wait until it goes to collections the agencies are less likely to give you a break on the interest charges

Answer 6

No they will sue you for it and eventually garnish your wages takes a long time. Just happen to me one a crdit card I got when I was 18 and I am 27 now. It will catch up to you one day!!!! But if you don't have the money to pay it what can you do......

Answer 7

It will go against your credit. Try calling them and see if they can reduce your debt and make a payment plan. A lot of times the credit card companies will stop charging interest and will lower your amount due and set up a payment plan if you just talk to them.

Answer 8

They cant reposses what you have purchased if that is what your asking...

But your future will be very GRIM if you dont pay them off. You will never own a home, you may possibly still be able to buy a car, but it will probably need a cosigner and you will pay about twice what the car is worth, Banks may deny you have a checking account...

And depending on the creditor, they may sue you and have your wages garnished from your paycheck and from your tax returns.

The best thing to do is to make arrangements with your creditor and pay them off.

Answer 9

Jail is unlikely.  They can probably only re-possess things you bought with the cards, but unless those are larger tangible assets, that is also unlikely.

Bottom line, you are going to s***w up your credit and when you want to buy a big ticket item, like a home or a car, you are either going to not be able to do so, or will have to pay some exorbitant rate of interest.

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