Wonder What Happens If You Do Not Pay Credit Card Debt?
If you have ever considered what will happen if you do not pay credit card debts, it would seem that there is a chance you may be considering not paying them, or defaulting on your debt.
This is really not a good idea.
You may get away with it for a while, but you can't just pretend you don't owe the credit card company money.
This is really not a good idea.
You may get away with it for a while, but you can't just pretend you don't owe the credit card company money.
So What Will Happen If You Don't Pay Your Credit Card Debt
This is what is likely...
I would think that you have a reasonably large debt with the credit card company, first of all.
If it was only small I think you may not have worried too much, and just paid it off.
So what will happen to your credit card debt? Well don't for one minute expect that it will just be forgotten about.
The credit card company will consider that you have defaulted on your debt, and they will ultimately sue you for the amount you owe them.
If it was only small I think you may not have worried too much, and just paid it off.
So what will happen to your credit card debt? Well don't for one minute expect that it will just be forgotten about.
The credit card company will consider that you have defaulted on your debt, and they will ultimately sue you for the amount you owe them.
What Action Will The Credit Card Company Take Over The Debt?
The credit card companies do differ as to how much debt you have before they will sue you.
They can take you to court a number of years after your unpaid debt, and this differs again depending on where you live. The number of years is called the Statute Of Limitations.(SOL)
If you know the number of years and the credit card company try to sue after the SOL date, you can defend yourself with the SOL defense.
You will need to show the judge proof of the default date, for example statements or copies and show the default date.
If a judgment is filed against you, it can remain on your credit report for up to seven years. If this happens your credit history will not be a good one. You need to know what action to take to avoid this but at the same time remove your debt completely
They can take you to court a number of years after your unpaid debt, and this differs again depending on where you live. The number of years is called the Statute Of Limitations.(SOL)
If you know the number of years and the credit card company try to sue after the SOL date, you can defend yourself with the SOL defense.
You will need to show the judge proof of the default date, for example statements or copies and show the default date.
If a judgment is filed against you, it can remain on your credit report for up to seven years. If this happens your credit history will not be a good one. You need to know what action to take to avoid this but at the same time remove your debt completely
An Alternative To Not Paying Your Credit Card Debt
If you are thinking about defaulting on your credit card debt, and not paying your credit card, you need to read thisYou need to take positive action and take a responsible attitude. They will listen to you, but you need to know what to do and what to say. You need a sensible approach, to reducing your credit card bill and ultimately removing your debt completely.
I had the same problems as you, I've spent a lot of time in my life trapped in financial bondage... juggling from credit card to credit card just to pay my bills... dealing with pushy bill collectors and struggling everyday to keep my head above water.
It's a scary place to be and what's even more frightening is the fact that most people don't see a way out... no light at the end of the tunnel... no hope for a debt free life.
But that has all changed and you can too, but you need to know how to do it..
Here's my favorite link:
Not Paying Credit Card Debt?
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- millstonerobert millstonerobert Nov 8, 2009 @ 10:27 am
- Excellent lens, for those of us that are unawares immediate debt relief is a real possibility through several avenues including, debt settlement, bankruptcy/loan defaults and debt consolidation in a sense. I think it's imperative that everyone knows their rights as well as the choices they have available to them if they find themselves in any sort of real debt.
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