I am in debts with my Bank Credit cards, what if I stop making payments, what will be the consequenc
The key to financial power lies in your credit rating. If you plan to get a home loan, save money and get better credit starting now!
Nothing good!
The bank will eventually take you to court. Even if they don't, they will report you to the credit rating agencies and you will be unable to obtain credit from anyone.
Call them and try to work it out with them.
The other possibility is for you to go into legal bankruptcy (look it up on the Net!). It's not easy but it will preserve your ability to get credit in the future.
I am in debts with my Bank Credit cards, what if I stop making payments, what will be the consequences?all the accounts will be put into collections. very expensive charges. however usually they will settle for the original amount. but i dont recommend it because if you still dont pay it after they go into collections, they could file a civil suit against you and you would have to go to court and all that fun stuff.
I am in debts with my Bank Credit cards, what if I stop making payments, what will be the consequences?idea.... why dont you try it and then see what happens, im sure the judge will take your side of the case when the collectors take you to court!
I am in debts with my Bank Credit cards, what if I stop making payments, what will be the consequences?Depends on the laws of the state you live in. Definately, it will go on your credit and you will have credit collectors calling you. That is pretty much a definate. That will follow you around for a while. It will be on the credit report for about 7 years and the creditors can contact you for even longer.
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