Are There Consequences For Not Paying My Credit Card Bills?

Credit cards seem like a necessity these days

Credit cards seem like a necessity these days. Don't have the cash? Put it on credit! Unfortunately, that is the exact attitude that has gotten so many of us into trouble. As of 2009, there were over 576.4 million credit cards in circulation, according to the Nilson Report of February 2010. The average American is walking around with $8,000 in credit card debt.

At some point, your debt can become very overwhelming. Not making a payment to any one of your creditors could result in serious consequences. If you don't make your house payment, the bank can start foreclosure proceedings. If you stop making your car payments, the lender can probably repossess your vehicle. If you don't pay your utilities, your service can be shut off. But there can't be any consequences for not paying your credit card bills...or can there be? Will you really be facing big consequences for skipping your bill?

Absolutely.

Your creditors will begin to take action against you by obtaining a judgment from a state court. Your creditors will then use that judgment to get a wage garnishment, put a lien on your home or car, and go after your bank accounts. To make matters worse, they will do all this and continue to harass you and your family by phone.

Ironically, the actions taken by your creditors will really only seek you farther into debt. The downward spiral into debt can be fast and, with it, you take your credit score. Without a way to turn your debt (and your credit) around, it is likely that you will continue to sink. But is there a way out?

A bankruptcy lawyer will be able to help you pull yourself out of debt, prevent your credit from continuing to suffer, and help you put your life back together. Chapter 7 helps you to eliminate your unsecured debts (credit cards, medical bills, payday loans, etc) and turn your life around in as little as 90 days. Wouldn't that plan make life a lot easier?

Simply not paying your debt is not a solution. It is only a temporary band-aid for a situation that won't be going away on its own. The life you dreamed of won't just fall into your lap; you've got to do something to take control of your future. Doing nothing changes nothing. Without debt weighing down your credit and creditors knocking down your door, you can finally be free. So, when will you stand up and take your life back from your creditors?

You can begin to get out of debt by first finding free information from reputable bankruptcy attorneys. Don't forget, most lawyers will give you a free consult but how many will give you free information before you set foot in an office? Do your research and choose wisely.

by: Jim Brown

POST COMMENT

Do You Want To Reduce Your Credit Card Bill? What Bad Credit Can Lead To 3 Easy Ways To Increase Your Credit Score Bad Credit Same Day Loans-Acquire Funds without Any Uncertainty Unsecured Loans For Bad Credit- Finance Without The Slightlest Hassels Debt Relief- Unsecured Credit Card Relief The Best Way To Get Out Out Of Debt Bad Credit Unsecured loans- Set Aside Financial Worries and Overcome the Crisis How to Eliminate Credit Card Debt fast - Tactics to Eliminate Debt For Good Bad Credit Loans Loan In Canada Clarification Of Bad Credit Payday Loans Part Thirty Five Bad Credit Loans Loan In Canada Explanation Of Bad Credit Payday Loans Part Thirty Five How Do Loan Modifications Affect Your Credit? How Debt Settlement Impacts Your Credit Rating Payday Loans No Credit Check: No more worries