What happens when you dont pay credit cards?

[merime]

I have never been behind on minimum payment. This month I will not be able to pay on my credit cards. Should I send a little, or is that a waste of time? Do they take you to court. thanks, everyone

[OhioFiler]

The banks will start calling you asking you to make payments. There is an entire sub-forum here dedicated to the collection effort. I suggest you head over there and educate yourself on this process.

Good luck to you.

[poorold]

the month people realize they can no longer make their minimum payments is usually about the time they realize they will be filing for bankruptcy.

at that point most folks see an attorney to determine the best way forward.

most everyone on these boards has been there one way or another, so welcome.

once you figure out the path forward and get passed it, the relief is immeasurable.

of course, it's quite a trip to get there.

[kornellred]

The really disturbing thing about missing your first cc payment, or even sending it in late, is that you are virtually guaranteed to experience a whopping increase in the interest rate. So far, the great numbers of people who are filing for bankruptcy has had no effect on the way that large banks conduct their business with respect to unsecured credit. I imagine that the perception is that people will not skip a payment or be late in making the payment because of the harsh consequences involved.

Merime - the toothpaste is out of the tube, and no way is it going to get back in. Either accept the higher interest rates and the lowered FICO score that you will experience and then work your way through it if you have the means - or get ready to file for bankruptcy. It's not as horrible as some have assumed.

[frogger]

I have never been behind on minimum payment.

Welcome to the world. Once you get over this stigma and decide what to do, life gets much easier.

You either get a plan together to work out your debt, or you ignore them and see what happens, or you plan to file bk.

The biggest thing you need to do is to decide what plan of action you're going to take. Right now, you're floundering like a fish out of water. All of us were at some point.

When you decide what to do, things will be come much more clear.

[merime]

One thing that makes things worse. I have 0 income at this moment and own no property or vehicle, does that matter?

[OhioFiler]

One thing that makes things worse. I have 0 income at this moment and own no property or vehicle, does that matter?

I wouldn't bother trying to pay them a dime. I also wouldn't consider filing bankruptcy without a job.

[48adam22]

Like most everyone else says,,,,,,, read, read, read,,,, to learn what the best course of action is for you. When I separated from my now ex-wife, I learned she had stopped making the credit card payments about one month earlier. We had too many credit cards, but that's the American way, right ? I kept up making the payments on my own for over a year but had nothing else to live on and eventually got tired of being broke and hungry. When I married her my credit score was in the 700's and now it was in the 500's so for me, not making the payments was a no brainer. My credit score was ruined anyway, I got "awarded" the $ 60,000.00 in credit card debt, so I did not make any payments. I endured the endless phone calls from the credit card companies for about 6 months but that's all they ever did to me, just bugged me on the phone.

I read two Nolo books on Bankruptcy, all while dealing with depression. It took me 1 full month of research and another full week to fill out the forms on-line, but it will be worth it.

[pushed]

I wouldn't bother trying to pay them a dime. I also wouldn't consider filing bankruptcy without a job.

OhioFiler - Why wouldn't you file for bankruptcy if you didn't have a job? My attorney has urged me to file before I find a new job...which may take months!

[merime]

Thanks everyone. See maybe Iam stupid , but I don't want to do that too my husband. In fact I am considering being taken off the deed to the house , so he will have that and not get angry and hurt me. Is that stupid? So it is completely possible to file online. What about the classes they make you take? What about the court meeting with creditors. So Scared here. Also, if you file does that not make it harderto find a job??

[HakunaMatata]

OhioFiler - Why wouldn't you file for bankruptcy if you didn't have a job? My attorney has urged me to file before I find a new job...which may take months!

Filing for BK may clear your financial past; although, it doesn't protect your financial present or future. Moving forward, you need to have the means to support yourself. In your situation...if securing employment may take months, do you have a plan during this timeframe?

[HakunaMatata]

Thanks everyone. See maybe Iam stupid , but I don't want to do that too my husband. In fact I am considering being taken off the deed to the house , so he will have that and not get angry and hurt me. Is that stupid? So it is completely possible to file online. What about the classes they make you take? What about the court meeting with creditors. So Scared here. Also, if you file does that not make it harderto find a job??

Whoa. Whoa. Whoa! Your husband may hurt you?! Marriages often experience the good and the bad. I can understand your husband being upset with your financial condition (especially if he has remained unaware). I also understand your desire to protect assets. Property transfers conducted shortly prior to filing BK present red flags. You need to further explore this. The notion of protecting your house exclusively to protect yourself from harm warrants considerable thinking. Your finances may be bad; although, abuse is intolerable.

[merime]

I have a degree and have been looking for a job, but cant find one. Iam trying so hard. I have 3 children 16, 14 and 10. My eldest had a speech delay that was really bad. I stayed home and homeschooled him, and his siblings because I knew he was smart and didnt want him in special ed. This year he is in 11th grade in a public high school and so happy. I don't know how to leave my husband because I dont have a job, but the kids are miserable too. I feel good that they are doing well in school , at least I didnt mess that part of my life up. Really hopeless, thanks everyone.

[OhioFiler]

I have a degree and have been looking for a job, but cant find one. Iam trying so hard. I have 3 children 16, 14 and 10. My eldest had a speech delay that was really bad. I stayed home and homeschooled him, and his siblings because I knew he was smart and didnt want him in special ed. This year he is in 11th grade in a public high school and so happy. I don't know how to leave my husband because I dont have a job, but the kids are miserable too. I feel good that they are doing well in school , at least I didnt mess that part of my life up. Really hopeless, thanks everyone.

What you need to do is talk with a counselor, pastor or school official. There are options for you if you are truly in danger from your husband. Please seek help for you and your children's sake.

[ForumReader]

What you need to do is talk with a counselor, pastor or school official. There are options for you if you are truly in danger from your husband. Please seek help for you and your children's sake.

Yes, I agree with Ohiofiler, do that, please for your and your kids' sakes. I had to do the same thing for myself and my kids. Do one thing at a time, seek counseling and go over everything including your finances. But by all means, protect yourself and your kids if your husband is capable of hurting you. Please keep safe and best wishes.