What if you stop paying credit cards?

After many calls and letters - very stressful! - they will eventually send your account to collections (which is a way of suing you). My grandparents have over $100,000 in credit card debt and the phone calls start at 8am and don't stop until 5pm. Also, you will not be able to apply for a loan or anything that requires a credit check because it will all be there on the report. No lender would make a deal with someone who has delinquent accounts. But the collection companies will always offer to settle the debt if you pay as little as 30 cents on the dollar (the average settlement is about 50%). If you take them up on this offer your debt will be reported as settled with a zero balance. Your credit score will begin to improve after all your debts are settled, and within a couple years you will again be getting credit cards offers in the mail on almost a daily basis.