Question: What happens if you stop paying your credit card bills?
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Answer #1:
There is always the chance they will sue, get a judgment, garnish your wages or put a lien on your house.Answer #2:
sooooooo silly!!!!!!it happened to me, i was cranky at them for a random fee, so i decided to boycott the system and not pay. it was only $1000 limit..... they sent a letter the other day, i now owe $1400 to a different agency, that bought my debt off the bank. so now i cant even talk to the bank about it, bcoz to them, im not a customer anymore, and i dont have any accounts with them. ehhh really bad move on my part. please learn from my mistake:)
i hope i talked you out of it
Answer #3:
Your interest rate will rise, and you will get a nice $39 late payment fee if you don't pay each month.When you negotiate, they will never take off things that you buy, they will just reduce some of the massive fees they have charged you.
Any dings in your reports stay on your reports for a full 7 years.
You also run a chance that these creditors will just take you to court and garnish your wages.
Remember: Employers check credit reports.
This could easily foul up your future by being turned down for jobs.
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Answer #4:
I see no use for credit in my lifestyle.I am on SSI due to epilepsy,so,I will never drive.Eliminates the need for a car. No car means no boat,no camper etc. Banks have become very very greedy. I tried by experimenting as a first time buyer with top rating credit.( No blemishes) Found out that banks would not finance to anything below $200,000.They want to make you fail so they repo the home. Personally,I wanted to buy a house that needed TLC at around $15,000 and fix it up then sellit and repeat the cycle. With owning a home,the headaches come into mind.Furnace replacement. 5-10 grand. If I rent, most cities require having a fridge and stove furnished.Thus when these go south, your landlord flips the bill.
When you live without credit long enough,you find out it was never a necessity after all.If I want the big ticket item,I save up for it. The more I want it,the harder I try.
Answer #5:
I understand how you feel but you must understand there are other things that can happen besides simply trashing your credit.They can take you to court seek a judgment and if they win and let's face it they will at that point they can garnish your wages (if your State allows it), attach bank accounts and file liens on any real property you may own like cars, boats, land and homes.
Add to this that the amounts will double with interest, late charges and additional fee's plus the fact that all of this will show on your credit for the next 7.5 years and it can become very damaging in the long run.
I wish you the best of luck whatever you decide.
Answer #6:
I wouldnt advise this because of fines and penalities that go along with not paying your credit card bills. Also you will be inviting the collection agency into your home. If you have never dealt with collection agencies, Believe me when I say this. They will drive you crazy from 9am until 9pm 7 days a week. And another thing, Late pays are extremely bad and lowers your credit score,** Powered by Yahoo Answers