What happens if you stop paying your credit card bills?
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./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.
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./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.