Credit Card Debt Free

Credit Card Debt - What Happens If You Do Not Pay Credit Card Debt?

You may be a position where you are beginning to fall behind on credit card payments and loans. Or maybe money has become so tight that making these payments are putting you in serious financial distress. This is not uncommon, many people are struggling with the same dilemma. If you are at the point of not paying your credit cards and loans, here is a little information about what can happen when you don't pay them.

You will begin receiving phone calls and letters. These companies will call relentlessly, all hours of the day and night. Regardless of laws that are suppose to prevent harassment, they will continue to call. Also, any debts you owe can be sold to collection agencies who will go to further extremes to find you and make you pay. They are not suppose to contact your family, friends, neighbors, and employer, however depending on the collection agency, they may break the law and do this anyway.

There will be letters as well. Some will even be threatening and collection agencies will go to the farthest extreme to scare you and force you to pay them. Watch out for companies that portray themselves as lawyers or some branch of the law. There is no debtors prison, you will not go to jail for not paying your bills. They can not arrest you, however they may threaten that they can and will.

Furthermore, they can take you to court and have a judgment, lien, or garnishment against you. You will be notified if a company is suing you and you will need to appear to defend yourself, so that a decision is not rendered without your input.

Not paying your credit cards and loans can become a huge headache, getting help before this happens will create fewer problems for you and time spent answering phone calls and letters.