What Can Happen If I Don't Pay My Credit Card Payments?

5 Answers

Anonymous Profile
Anonymous answered
Don't worry about it ! I can't count how many people I know who have charged up their credit cards and never paid them back . Yes they will call and drive you crazy so change your number . Do not respond to anything that comes in the mail !you cease to exist ! It will go on your credit eventually as a charge off  but who cares . They will not spend the time or  money to sue you or garnish your wages !  Lets just say 99.9% chance they wont ! Within a couple years or so you will be fine . If you have other cards continue to pay them on time ! If you don't , keep applying every few months until you get one and start using it regularly paying it on time ! Take a few small loans out  , hundred bucks  , give or take  despite the high fi co and pay them back! I have a friend who stopped paying on 7 credit cards just 4 years ago, over $100,000.00 worth and now has a 720 fi co score and recently purchased a home against my recommendation in this collapsing economy .  The charge off will eventually be wiped off of your credit !Up to seven years from the date it happened. However, most creditors will only deny you credit if it has happened in the last few years. Don't feel bad about it now !    Almost everyone is having problems of some sort  now in the sagging economy under the obama man ! Don't worry , obama will be offering to pay off credit card dept pretty soon . I love it ! No more accountability !
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Danae Hitch
Danae Hitch commented
Why would you encourage someone to steal money? When a person charges something on a credit card, they are obligated to pay back this "loan." They have received goods or services with the understanding that this will be paid back.

It's amazing the lack of personal integrity that you seem to have in regards to your person obligations.

To the one asking the question, if you are having trouble making the minimum payments, call the creditor and work something out. If you don't, they can and will sue you. They can wipe out your checking account, if so ordered by the court, in order to get the money that is owed to them.

You owe the money; have enough character to want to do the right thing and pay them back, unless you are willing to give back everything you have purchased using that credit card.
Mike Davis Profile
Mike Davis answered
There are a number of possibilities in this regard. The creditor might garnish your property or your wages in the future. It is better to have a word with them even when you're going through a financial crisis and not being able to pay back your debt.
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Pamela A Michals
Pamela A Michals commented
What I need to know is,I'm retired and owe 10,000 by some creep man that used my credit card and split 'with promises to pay'.NOT.Now 1cc garnished my wage/property. I get SS and pension. Can they get my pension? YA,try to live on 1200 a month.Can I go after him for SOMTHING?? Short of Jerry Springer?
Danae Hitch
Danae Hitch commented
Is there anything in writing stating he would pay you back? If not, then he can say that there wasn't any type of agreement and he doesn't owe you the money.

If the credit card agency still has the debt, see if you can negotiate the debt down. Keep calling them until you reach someone that will work with you. Then have them send you the new negotiated balance IN WRITING. I don't know if they can garnish your pension. Maybe someone here knows that information.
JuliAnne/ Genuine Guidance Profile
You will be sent to the credit cards internal collection department. They will call you and send you letters informing you that you are past due and will try to get a payment out of you or a date when you can send in a payment.
If you cannot or do not make any payment arrangements during this time, after about 3 to 6 mos they will sell your account to an outside collections agency which buys your outstanding balance for pennies on the dollar. At this point, you cannot go back to the original card issuer and make payment arrangements. Also, by now your account is closed, and written off by the credit card companies. Also, your delinquency and collections accounts will be reported to the credit bureaus which will tank your credit score.
Credit card companies are getting more aggressive about collecting their debts, and will not hesitate to take you to court to get a judgment. This means they can sue you, and after getting a judgment, garnish up to 25% of your paycheck.

I would suggest you do all you can to pay your credit card payments, and if you cannot, get enrolled in a non profit credit counseling service so that you can get back on track.
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Anonymous
Anonymous commented
Times have changed. Everyone is defaulting. It's very unlikely that CC company will take you to court.
Danae Hitch
Danae Hitch commented
I thought the same thing and I was proven wrong, as recently as two years ago.

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