What happens if I ignore a £400 debt from Mastercard?

Question

My boss says they'll just give me a CCJ, then a Default, then leave me alone

This correct?

Answer 1

Hammy! you'll be in danger of paying even more. Don't even try that, it'll will affect your credibility.

Answer 2

Don't know what happens in the UK but in the US the collection agency goes after you after 3 months of non-payment. You can declare bankruptcy - but that looks bad to future creditors. It can take up to 10 years to clear from your report. Meanwhile you will never be able to get a loan to buy a house/car/underwear...loan sharks thrives on people who make your mistake. Pay your debts, dude. BTW - your boss has it in for you.

btw - are you hoping for different answers that is why you posted the same question twice?

http://answers.yahoo.com/question/index?...

Answer 3

Not for sure but most-likely not, most of the time they report you to a collection agency plus every non-payment probably will drop your credit score

Answer 4

the hottest corner in h**l my friend, the hottest corner in h**l........pay your debts.

Answer 5

If I owed you that amount would be satisfied if I did this to you as you want to do to Master Card

Therefore, if you bought a Widget, then pay for the Widget

Answer 6

My suggestion is trying to get as much resource as you can before making final decision,here is a good one.http://debt-relief.expertips4u.info/debt...

Answer 7

They will give you a CCJ, then a default.  Then later when you have it removed from your credit report due to statute of limitations, they'll sell it to a collection agency.  That collection agency will slap you with the full bill and throw it right back on your credit report.  Sometimes up to fifteen years later.  Pay the dough.  Its not worth it for only 400.