What will happen to you if you dont pay off your credit card debts?

if you don%26#039;t pay then at all? they will go to collection. It will destroy your credit standing and you will not have any buying power for around 10 years. such as cars and homes. and they cant collect now they will either wait for you to fix your credit and then collect. Or they will most likely sell the debt to a collection agency. the collection agencies will either wait them selves or keep selling the debit until someone collects and the debt is settled. even if it is settled for less than what is owed.

if you have accounts with high balance to credit line ratios will lower your score considerably over time. as much as a 100 point or more. Also beware of balance transfers this is like shooting yourself in the foot if you are trying to keep you score high.

1) the balance to credit ratio is high.

2) the length of time you have had the account open is low.

3) it is an inquiry on your report.

4) you may be opening to may new accounts.

5) they may close the old account.

What will happen to you if you dont pay off your credit card debts?

They will sue you for the money, then you will have to pay collection costs and court fees, and you will have a judgement on your credit record that will prevent you from ever getting credit again until it is paid.

What will happen to you if you dont pay off your credit card debts?

The companies will pursue you for the money and eventually make you bankrupt or take other legal action.

What will happen to you if you dont pay off your credit card debts?

Bad credit for a very long time. Which means you won%26#039;t be able buy a car, or house. You won%26#039;t be able to get another credit card which means no renting cars or hotels. You will also have a more difficult time renting a apartment.

What will happen to you if you dont pay off your credit card debts?

bad things and lots of interest

What will happen to you if you dont pay off your credit card debts?

The lenders will hire bill collectors to try to collect the money. If they fail, you might be sued.

In the meantime, your debts will be charged off by the lenders. This will remain on your credit report for 7 1/2 years from the last payment.

Many creditors will not lend you more money with existing charge offs on your credit report.

Your credit score will drop and the cost of credit will go up.