What if i just stop paying my credit cards what will happen besides phone calls.?

Question

What if i just stop paying my credit cards what will happen besides phone calls.?

Answer 1

Your credit report will get lots of black marks on it which will make it impossible to get credit as long as the cards are left unpaid.

The debts will get turned over to collection agents who can and will make your life very unpleasant.

If the debt is serious enough, you will be taken to court.  And it's entirely possible for the bank(s) to get a judgement that includes garnishing your wages.  In which case, your employer learns of your financial irresponsibilty so maybe you get to keep your job and maybe you don't.  In any case, you end up paying your debts plus fees and fines.

Answer 2

All the answers are pretty good...also remember...your wages can possibly be garnished if you work full time.

Answer 3

The bad debt will be reported to the credit reporting agencies and you will find it much harder to get credit anywhere else (car loans, mortgages, etc.).  In addition, if the credit card company was particularly nasty,  they can go to court and get a judge to order your wages garnished (up to 15% of your wages would be sent directly to the card company).

If you were able to get credit, the interest rate would be quite a bit higher, thus costing you more in the long run then keeping your credit report clean.

And of course, there are the phone calls.

Answer 4

Your credit score will go down and no one will ever lend you money or give you a credit card again

Answer 5

they will charge you a late fee charge every month

Then, when all those charges put you over your limit, they will charge you for that also every month. Then they will send it to collections. And if you still don't pay i assume they will take you to court.