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 Do you let the cashier pick when she says "debit or credit"? |
Additional Details
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Additional Details
The chedit card I have is only $360 but it seems the more I pay the less goes to the principal. It si the only credit card i have and If I could find the responsible ... |
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john28652 | What will happen if i just dont pay my credit card company any more money. what can they do to me.? |
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DIY Melissa
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They will send you to collections. And then every time you apply for any kind of credit it will show on your credit report that you owe money...and have not made arrangements to pay it off. This will make it difficult to obtain any kind of loan. |
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bdancer222
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Besides ruining your credit and hounding you for the money, they can sue you and win a judgment. With the judgment they can garnish your wages, attach your bank account, or lien your property. If you don't have any assets now, they can wait till you do. Judgments are good for a long time and can be renewed.
While it use to be true that credit card companies would only sue if it is a large amount, that is no longer true. Some credit card companies, like Capital One, have their own in-house collection dept and are very aggressive. They will sue over some pretty small balances.
If the account is charged off and sold to a collection agency, it is more likely that you will be sued. If you're in an area where they have a physical office, they will take you to small claims for amounts as small as $200. |
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Dan B
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That depends upon what you do, what you did, and why you did it.
If they find out and can prove that:
a. you had no intention of paying the debt
b. you have the income and the ability to pay the debt, but don't
c. that you never had the income that you reported
d. other things on the application that isn't true, and you knew it
that's fraud and it comes with jail time.
Otherwise, they can take aggressive action to collect the debt. Your credit will be destroyed and you won't even be able to buy anything without a huge down payment, if at all.
Review your application to ensure you didn't include your car or other valuable assets as collateral. If you did, they can come at get it. |
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☼AstrologerJuliAnne☼
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Call you incessantly
When that doesn't work,
Send your account to collections
Then they will call you incessantly
When that doesn't work
Sue you
Stick your credit report with a public record of having a judgment making it nearly impossible for you to finance a car, house or get a new credit card for 7 to 10 years
Lower your credit score
So, question is, why would you want to shoot yourself in the foot by not paying? You would only be hurting yourself in the long run. Find a way to consolidate your debt or get credit counseling. |
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Ava O
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You'll be hounded by first the credit card company and then the resulting collection agency. I have an ELEVEN year old debt that was originally $1K and it has been sold OVER AND OVER again to these third-party debt collectors....I'm sure I've paid well over the initial $1K, but now with interest, penalties, and such they've got me for $5K....(there was a $1K limit on the card!).
I was eventually sued (they monitor your credit report so they know when you purchase a house, gain credit, etc...and it red flags as you having assets and that's when they swoop in w/ a lawsuit).
I fought them on the lawsuit and won because I had good defenses such as out of statute, they weren't licensed in my state, etc. but that doesn't mean they won't sell the debt to another company who will turn around and sue me again. They call it "zombie debt" for a reason!
Bottom line....work out an arrangement, don't stop paying...it's not worth the never-ending hassle! |
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Jay S
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They can sue you, but unless it's a pretty large amount they probably won't. If you have no cash assets, let them sue and waste their time and money.
They will report it to the credit reporting agencies.
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stb_1950
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you need to talk to them, and ask for a lower rate. it will go against your credit, they will turn it over to collection..some can get nasty..
project payday is a joke! |
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Solutions
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The credit card company will charge you outrageous amounts of interest and expenses. They do not care if you do not pay them back! Why? Because they have insurance on your debt. That is they get all the money you owe them from their insurance company and write off your amount. They will then turn around and sell your debt on the open market for pennies on the dollar. This is why you will receive phone calls all day long from everyone except your credit card company. |
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Yo-Nathan
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Take your stuff, put you on collection, and report you to the cops (among others) |
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