If someone decides not to pay his or her creditcard debt.?

Question

If someone decides not to pay his or her credit card debt, what are the consequences aside from bad credit history

Answer 1

In Uk youre more likely to get bankrupted

Answer 2

Inability to get a car loan, mortgage, and sometimes jobs won't hire you if you have a crappy history like that.

Answer 3

Depends on how much money you owe. Less than $5000 and you will get calls from collectors every day threatning 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.

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 4

Collections agencies hounding him at home and work... Law suit - potential wage or bank garnishment.