Posted on
November 11, 2009
at
11:32 am
what happens if I just dont pay my credit cards,could they throw my but in jail
Posted on
April 4, 2010
at
10:21 pm
what happens if I just dont pay my credit cards,could they throw my but in jail-- simple answer is no because if ever you get sued, it won't be a criminal case.
Posted on
April 4, 2010
at
11:44 pm
A better question to ask is - what are the consequences that I'd face if I default on my credit cards?
Posted on
April 5, 2010
at
2:36 am
what are the consequences that I'd face if I default on my credit cards?-- aside from more penalties and interests -- you could also be facing a lawsuit for judgment. And no, you won't go to jail for that. It's just a supervised/monitored way of extracting payment from you. It means that you are going to have to pay by hook or by crook.
Posted on
April 5, 2010
at
3:03 am
Right, and a judgment could be any of the three - wage garnishment, bank levy, or property lien. The enforcement of which ever depends on the state law. Some states prohibit certain collection actions.
Posted on
April 5, 2010
at
5:55 am
RE: Default on my credit cards - now knowing that the worst that could happen to you is get sued for a judgment, what are going to do with the debt? Have you heard of statute of limitations on debt collection? If it expires in your state (rules may vary per state) it doesn't mean that they may not sue you, they might, and you can put up the SoL defense, but you'd still owe that debt. Might as well face it - and settle. Remember that the longer that the debt is unpaid, the cheaper the settlement is supposed to be. You can do this d.i.y. or hire the services of a settlement company.
Posted on
April 6, 2010
at
2:27 pm
I would recommend you pay them off asap. Not only will you just get deeper in debt, but you will also ruin your credit rating if you stop paying at least the minimum on your cards every month. While you may not care now about your credit rating, you will once you try to apply for any type of loan (personal, mortgage, car, etc)... and they don't loan you the money.-----
http://www.stopmydebt.com
