What Is The Worst That Can Happen If You Do Not Pay Your Credit Cards

The Answer Will Shock You

The answer will surprise you when I tell you what is the worst that can happen if you do not pay your credit cars.

The answer I have is from many other people's experience and myself. The answer is nothing if you do not mind hurting your credit a little more these days.

Your credit score will only go down a little and then if you pay your bills on time your score will increase in less than six months. Even if you do not pay your bills on time it seems your score will go up.  It is always best to pay your debts on time if your can.  I know people who had 5 credit cards go into charge off status and then get a credit card for $2000.  They had terrible credit.  I am amazed at some of these crazy banks in this crazy times. I can tell you how to do this later if you want.

So now if you decide to do this then I will now tell you what will start to happen. You will get calls from these cards and their collection agencies. Oh big worry. They will make illegal threats which they cannot by law carry out to scare you into paying.

They will ding your credit report, but I know so many people who pay off their cards on time and still have credit report problems.

They will threaten to sue you. They will get a judgement on you, etc.  Also do not worry they first have to serve you with legal papers and go through the courts.  As long as you respond that will stall the process for a long time.  If you do not respond to the lawsuit they can get a default judgement.  They legally can do this, but the good news is that they almost never do.

I know lots of people including myself and after an extensive google search that they almost never sue people for credit card debt. It is not cost effective for them.

So bottom line the worst that can happen is they hurt your credit for a while.

Also I would only do this if I am short on money. If you have the money it is always best to pay them.

Of course these days a lot of people are really short of money. It is really bad. That is why a lot of people cannot pay these credit cards.

I know of very, very few cases where the credit card companies sue anyone for credit card debt. I have spoken to many people and done extensive research. As a matter of fact I have another book coming out about this.



Comments 2 comments

onlinemom1963 profile image

onlinemom1963 5 years ago from Makati City

Thank you very much for this. It removes the thorn out of my neck.

bfishgold profile image

bfishgold 5 years ago Author

You are welcome onlinemom1963

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