What happens if you don't make your credit card payment?

Answer 1

Some consumer's are under the mistaken belief that a credit card issuer cannot take legal steps to recover the debt because a credit card is considered an unsecured debt. This is completely false, the creditor can and often does sue the debtor and if awarded a judgment, use the judgment as income garnishment, bank account levy, attachment and sale of personal property or a lien against real property. Judgments are also entered on the consumer's credit report and will remain for 7 years or longer.

Answer 2

Lot's of possibilities: *Law suit by the credit card company *Garnishment of wages *Lien on property *Bad credit rating As a bottom line, in case it isn't clear, along with things like the above, you more than likely will end up paying what you owe sooner or later, PLUS all the cost of them having to take actions and/or wait to collect it.

Answer 3

*THEY WILL SUE YOU!!!!!!!!!! There are no options. They do not care if you are unemployed, if there are no jobs in or area and even a single mom to boot. These Banks that CAUSED our economic failure WILL take you to court and win. The judge then decides whether to put a lien on your house or garnish your wages leaving you unable to EVER have a decent life again. The unemployed in our country don't have a prayer.

The Banks did not cause the economic failure. The people in this country caused the economic failure. If you cannot pay your credit card bills you should contact a non profit credit counseling service. They will help you to negotiate with the credit card companies and can help work out payment arrangements to help you keep your credit in good standing as well as avoiding garnishing of your wages.

I'm not the person that originally answered but I have pertinent information. I'm disabled so I didn't qualify for the credit card security insurance you can purchase in case you lose your job or become disabled because I was already disabled. My husband was injured at work and become permanently disabled also. I got the credit card in my name because he didn't have credit and the card was for a tool box and tools he needed for that job when he first got it. After he became disabled it took 2 years for him to be approved for social security disability in the meantime the only income we had was my disability and welfare. It wasn't enough to pay rent and utilities so we lost our house and had to live with family for 2 years. I'm saying all this so you understand I didn't live out of my means and spend money on needless things and get myself in debt that I couldn't pay for. I never had one late payment until this happened and I still even paid as much as I could in partial payments every month to show I was trying. The credit card company knew my situation and that I was currently homeless and even though I made payments every month they would send late notices that said I made no effort to pay or contact them and I would call every time I got a letter and every time I made a partial payment with my bill I'd call them and tell them why I didn't send the full payment. They would still send letters stating I was making no effort to pay or contact them. Finally they sent it to collections and that company demanded payment in full. I would get called every day and try to explain but they would treat me like a deadbeat when I made every effort they'd threaten and swear at me and when I'd hang up they'd call me right back over and over which I now know is illegal. I finally talked to someone nice enough to let me start making payments again but I could only pay $25 a month. I sent my first payment right away, I had to send a check, they didn't have an internet option and a phone payment had an extra $10 charge. I got a call the next day and it was a different person he started speaking awful to me I told him I had sent a payment and he said I had to pay in full. I said the other person said I could make payments and he said no. I asked about the payment I'd already sent and he said they'd take that payment but no more. I told him I'd never be able to afford that and since I had made every effort and they refused to work with me they could hold their breath. They called everyday all day over and over, I felt under siege, but I refuse to answer and put up with their disrespectful abusive treatment.I couldn't take it any more and I had down right had it. The calls stopped after about a year but I got frequent collection notices and the debt was sold over and over and then nothing for a few years. Then I got severed by mail I was being sued. It was OK I figured once the judge heard my situation he would just grant me paymens which was all I ever wanted anyway. I just had to reply or I wouldn't even get to speak to a judge and they'd win. So I went on my county court pages to read what to do and which forms to print out, fill out and send and while researching I accidentally noticed there was a statute of limitations. If an account goes more than 4 years and then the debtor tries to sue the defendant can file a denial in California anyway. So I filed the denail with the explaination with the court clerk, and sent the other party a copy with proof of service by mail. The day before court I get this strange letter that apparently said they gave in and let me win by default. I actually thought it was some sleazy trick to get me to not show up so I showed up anyway. I showed the clerk and she said yes they gave up and I won they didn't expect me to be so smart. They figure you can't afford an attorney if you could you could pay your bill, and they don't think you'll be smart enough to figure out your rights and the paperwork. And yes it shows on my credit report as paid in full. I told you the whole long story because I didn't want people to think I was irresponsible and got away with something and get bad comments. I don't recommendd trying to do this to not have to pay your bills. I went through hell from abusive harassing phone calls and even though that is illegal they still do it and you have to keep a log of every call the callers name and everything they said. And if you think you just won't answer the phone they can only call once a day if you answer but as long as you don't answer they can legally call all day as many times as they want. And they may not wait more than 4 yes to sue you. I wrote this for people who are in a predicament like I was, who had an unexpected income reduction and made every effort to work with the debtor to pay their debt but to no avail, they are still coming after you like you're a criminal. Good luck to anyone going through this learn your rights and don't give up.

Answer 4

READ YOUR CREDIT CARD AGREEMENT If you fail to pay your credit card, you defaulted on the loan, it will go to a debt collection agency, and you can be taken to court by the credit card company, resulting in a judgment against you.

Answer 5

If you don't pay your credit debt, you may be hounded by collection agents and agencies. It will negatively affect your credit and your ability to get a car loan or buy a house. They may receive a judgment against you and file to garnish your wages or attach to your bank accounts.

Answer 6

The creditor and its representatives will pursue you for collection. That may include getting judgment to seize your property and garnish your wages, and of course many other things. The amount you owe will continue to increase by interest and all charges they incur having to colect what you owe. Obviously, your credit will be terrible, and you will have trouble doing even the simplest of banking as you are considered untrustworthy...and many, actually most, employers use that same information in deciding on hiring decisions.

If you incurred the debt with a false promise and actually had no intention of paying for it, that is criminal and fraudulent...meaning jail becomes another option.

Just common sense should tell you nothing good, in fact that very bad things will happen virtually certainly and ignoring financial obligations will not just make them go away. Or few people would have a reason to pay, and even fewer lenders would ever lend. But, financial institutions have been around a long while, have seen it all before, and have made sure there are plenty of mechanisms to assure they get paid.

Answer 7

Nothing, really besides reporting a negative mark to your credit report thereby lowering your credit score.

Credit Card debt is considered unsecured debt meaning that they have no inherent right to repossess any of your property or garnish any of your wages if you do not pay.

Also, credit card debt collectors only have a certain number of years in which they can collect the debt. See: http://www.creditcards.com/credit-card-news/credit-card-state-statute-limitations-1282.php

However, they can file a lawsuit to obtain a judgment against you and with that judgment place a lien on some of your non-exempt property. But unless you have property besides your vehicle, home and household goods (all of which is exempt) there is probably nothing there for them to attach a lien to.

In short, there is little credit card debt collectors can do if you do not repay the debt which is why they resort to nasty phone calls and harassment.

Btw, there are also laws that prevent this kind of harassment. Search: Fair Debt Collection Act.

Goodluck.

Answer 8

Many people in there life come across this question that what happen if i don't pay my credit card bill? if you stop paying your credit card bill payment, you may have to face some problem in your routine life.

Few are :

you have to face content collection call from the bank.

High interest rate and late fee charges.

Legal Action from the bank etc.

Find detail article on this in "Related Link"