Ja Ccwerecommend Credit R R Credit Card We Recommend Credit Card We Recommend Lv Category My Life Credit Card We Recommend What Happens If I Don't Pay My Credit Card Bill | Fair Loan Rate!

Some times I wonder, what is worst thing that can happen to me, If I do not pay my credit card bills. I can not make regular payments as I have to keep up with increased house payments.

Earlier, I did write in detail about what would possibly happen if you do not pay your credit card bills.  I am still of the opinion that mortgage payment should be first priority. It is better to pay mortgage than paying the rent.

If you recall that article, I said following things will happen is same order.

1. Collection Calls
2. Credit Card Cancellation
3. Collection Agents on your Door
4. Increased Interest Rates
5. Bad Credit Score
6. Legal Action
7. Bankruptcy

By the way, If you don’t care much about your credit scores (due to current crisis they are worthless anyway), you should consider re-negotiating with your creditor. people have been able to get up to 50% weaver on their balances. Take a look at some of the articles below to find more credit related facts and advice.

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Categorized | Credit Cards

Tags: Bill Some, credit card bills, dont pay bills, dont pay credit card, weaver, what happens if

This post was written by:

R. MAK. - who has written 455 posts on Fair Loan Rate!.

He is an IT Consultant turned Blogger, Interested in Technology, Personal Finance, Humans and Life...

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27 Responses to “What Happens If I Don’t Pay My Credit Card Bill”

1. Bent Slightly says:

   November 19, 2008 at 1:42 pm

   With bankruptcy it depends on what is there, after the feds and state get paid, and proportionally distributed by amount owed to each creditor.

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