What Happens If I Default On Credit Cards?

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What Happens If I Default On Credit Cards? – This is a place for the community to provide tips and advice on What Happens If I Default On Credit Cards?. This topic was created by Vic Percival and the tips are provided by the community. The tips you add here can be your own or referred from another site. The best tips are then ranked at the top when up-voted by members of the community.

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Tip 1
I Defaulted on My Credit Card – Now What? - NerdWallet More
Published: 9 years, 2 month(s) ago by Victoria Jackson | permalink
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-*+Dealing with the aftermath of a financial rough patch can be stressful and confusing. It’s likely that you’re up to your eyeballs in paperwork and have a lot of difficult…
Tags: credit cards, cd rates, savings, checking accounts, scholarships, airlines
For further reading: https://www.nerdwallet.com/blog/credit-cards/credit-score/credit-card-default-what-to-do/ ^[1]

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Dealing with Credit Card Debt: Should You File For Bankruptcy? - AllLaw.com More
Published: 9 years, 2 month(s) ago by Maher Shokeh | permalink
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Learn about bankruptcy and other options you have to get out of credit card debt.

For further reading: http://www.alllaw.com/articles/nolo/bankruptcy/options-dealing-with-credit-card-debt.html ^[2]

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Tip 3
What Will Happen If I Stop Paying My Credit Card? More
Published: 9 years, 2 month(s) ago by Mikel Schwarz | permalink
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Several things will happen if you stop paying your credit card and, in the long run, none of them will be good. Before you stop paying your credit card, look at some alternatives.

For further reading: http://credit.about.com/od/creditcardreviews/f/What-Will-Happen-If-I-Stop-Paying-My-Credit-Card.htm ^[3]

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Nobody’s Default But My Own: What Happened When I Decided to Stop Paying My Credit Card Debt More
Published: 9 years, 2 month(s) ago by Jules Hulley | permalink
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I should have never gotten a credit card, and I knew it. Nobody without a job, savings, or assets of any kind should, especially if their income is less than their rent. It’s basic math.

For further reading: http://thebillfold.com/2014/07/nobodys-default-but-my-own-what-happened-when-i-decided-to-stop-paying-my-credit-card-debt/ ^[4]

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Tip 5
What Happens If a Person Doesn't Pay Their Credit Card Bills? | The Classroom | Synonym More
Published: 9 years, 2 month(s) ago by Mateus Faria | permalink
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Learning to use credit wisely is one of the most important financial lessons. It's tempting to max out a card for purposes of instant gratification, but if you can't pay your credit card ...

For further reading: http://classroom.synonym.com/happens-person-doesnt-pay-credit-card-bills-17854.html ^[5]

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Category: Fun | 9 years, 2 month(s) ago

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Contributors

Jules Hulley, Maher Shokeh, Mateus Faria, Victoria Jackson, Mikel Schwarz

References & Citations

1. https://www.nerdwallet.com/blog/credit-cards/credit-score/credit-card-default-what-to-do/

2. http://www.alllaw.com/articles/nolo/bankruptcy/options-dealing-with-credit-card-debt.html

3. http://credit.about.com/od/creditcardreviews/f/What-Will-Happen-If-I-Stop-Paying-My-Credit-Card.htm

4. http://thebillfold.com/2014/07/nobodys-default-but-my-own-what-happened-when-i-decided-to-stop-paying-my-credit-card-debt/

5. http://classroom.synonym.com/happens-person-doesnt-pay-credit-card-bills-17854.html