What are the ramification of not paying a credit card bill at adjectives? if your credit is already destroyed why bother paying the bill?

if your credit is already destroyed why bother paying the bill? What else can they do to you?

You might be unpleasantly surprised as I have been...your debts to your CC company are predictable by all US, state and local governments.first of adjectives you will be charged about $40 per month in "unpaid payment fee"; then soon you will be charged at the ultimate leagle rate of about 24 % per year or 2% a month on what you owe. My advice is to call for them and tell them you have a problem and negotiate a lower rate.if you can procure it payed down, quit using credit cards...they are not for you.

They can take you to court and garnishing your wages. And one day, 10 years from now, when you want to repair your credit, you will owe a million dollars contained by finance charges.

Answers:
I see the range of answers here, from the judgemental to the slightly helpful. I will answer your press and go a step farther.

Here is the reality check:

Not much, if anything.

A small quantity of your wages can be garnished, but the process of doing this is very complicated and almost never done to my familiarity.

Credit card debt is what is called "unsecured" debt, that is it is not secured by an asset such as a house for a mortgage loan. In a secured loan, such as a mortgage, you officially pledge to give up a readily seizable asset like the house surrounded by case of default. This is why home loans, and other secured debt collectively has a lower percentage rate, i.e. the loan is less risky from the lender's perspective.

Your credit card, then again has no such guarantee on your part. If you don't money, they have no assets that have be pledged to seize. This severely limits the movements that credit card companies can undertake.

Realistically here is what will very probably arise:

They will charge you a NASTY amount of fees and interest, and then after a certain spell of time, sell the debt to a collection agency at a loss and write off your debt from their books.

The collection agency consequently will "step into the shoes" of the credit card company and do all manner of things to convince you to recompense them back. The collection agency will also probably add some sort of cost or interest to what they say they say you owe.

Ultimately, they can't do much excluding pester you, although THAT can be HIGHLY irritating. Be sure to read your rights and what is legal at the links at end of this answer.

BUT

You did borrow the money, and ethically should spawn an honest attempt at paying it back. If you do so, you will be better off contained by many regards.

That said, you can at any point, negotiate the language and settlement.

Given the choice between no money and some money, what do you think the credit card company/collector will choose?

With the knowledge that near is ultimately nothing they can realistically do to you, all the bargain power, and ethical responsibility is on your side.

You might not be able to pay adjectives of it back. This is ok, but do try to tell them honestly what you CAN settle up back.

There are lots of good self-help websites that can tutor you how to budget so that you can get an idea of what you can afford to earnings back. Be realistic and honest, and cause a good faith force to pay off the debt, and you will be surprised at how like lightning those penalties and interest rates go away as the credit card companies think through that it is better to meet your terms than not find anything at all.

Regarding garnishment. You will note that the imperative says "25% of disposable income". This is why garnishment is so rare: How do you prove "disposable" income surrounded by court? If you are in so much trouble with debt that you can't payment it back, chances are your "disposable income" is non-existant. 25% of nought = nothing, and lenders know this.

BOTTOM LINE:

You can ignore credit card debt if you REALLY want to, but you should take-home pay it back, and if you ask and negotiate honestly with them, can probably catch terms you CAN afford.

They can take you to court for a judgment, which can be used to garnishing your wages, interfere with any potential inheritance you may get surrounded by the future, and a host of other financial issues.

they can ruin your credit in the long run. you should pay it because it is money they allow you to use within time of need. now they can lug you to court to recover their money.

They will harass you to the point where on earth answering the phone will be excruciating, they call night and light of day. A debt will follow you around (forever) you are better off to either try to earnings it off or declare ruin.

They'll get a perspicacity against you, garnish your accounts and start calling you at work. Eventually your boss will get tired of the interruptions and start to wonder how smart you can be if you're contained by such a big hole. When the opportunity comes to fire you, you're toast.

I don't think they can accessories your wages but they can start court proceedings sueing you for the money that is owed to them. from there the court will craft its determination how the money will be repaid.

Well, first of all you charged on your credit card and you owe the money. As far as what they will do: They will telephone and bug the living daylights out of you and then when they can't get anywhere they will get rid of your account or turn it over to a collection agent. They will call you and dispatch you letters and bug you some more. They can take you to court and obtain a lien on your house if you own a house or possibly garnish your wages. Plus, you'll have the shipment of knowing you owe it hanging on you.

It will severly damage your credit score and variety it difficult to get credit/loans in the adjectives. It will get you turned into a collection agency and then you will return with about a million phone calls and packages from the collection agency. It will cause you to pay difficult interest in the future because of a lower FICO win.

they can take you to civil court. As for ten years from now it will adjectives be discharged off your credit report by then. You can look up the ucc codes and adjectives laws for more info. By the way you can request a free credit report and dispute any debts that are not legit or are more than three years out-of-date. They have 30 days to prove the debt exists or discharge the debt.

Collection companies bugging the crap out of you, making your life miserable. Bad Karma - you spent the money - so please payment it. Your credit can be restored.

What a "loser attitude" in even asking this question.