The very worst that you can expect is to be sued and have judgements placed against you. It will depend on what state you are from as to what these judgements will have on your day to day life. weather garnishments or levies are allowed or not.
If your debt is purchased by collection agencies then you will have the hounds on your trail until you pay them or set up a payment arrangement.
How far are you in debt? can you be more specific, what types of accounts and the amounts on the cards. Ignoring the debt will just make it worse. If you list the debts maybe someone here can help you out or advise you on how to start handling it.
Welcome John. Glad to see you have turned here for help. Of course we will need a little more in depth info and hopefully we can advise you in the right direction.. I kn ow the debt world is a scary place and sometimes we end up there through wrong turns or situations beyond our control. So wind down for a little while and let us see if we can help.
You will need to give amounts and the companies that you owe that way if anyone else has dealt with them then they will let you know what their experiences have been with these companies.
Hi John
Goodnatured is right. If you do not pay back your debt, the collection agencies can sue you to the court to bring judgment against you. This judgment can even lead to garnishment of your bank account so long as the debt is fully paid off. So the best way to avoid judgments is to get in touch with your collection agency and ask them for a repayment plan which you think you can afford to repay. You can also go for debt consolidation loans which comes with much lower rates of interest, to repay back your debt.
:idea: A lot of your debt problems can be managed if you take some careful steps. First. make sure that all your accounts are authentic and that there is no fraud billing (you'd be surprised how many there can be). You could also start contacting your creditors and requesting them personally to increase your credit limit. If you have active credit cards use them to make small purchases and pay them before the due date. Look for great tips and better suggestions on mycredidetail.com. It really helped me out when I was in a similar situation. I've begun rebuilding credit and think this site could really help you.
What do you mean about fraud billing? Alos why would increasinfg the credit limit help in the situation if they can no longer make the payments. Soem people use rob Peter to pay Paul, in other words, ise one credit card to pay another, I find this is really a risky situation as sooner or later Peter will want his money too.
The very worst that you can expect is to be sued and have judgements placed against you. It will depend on what state you are from as to what these judgements will have on your day to day life. weather garnishments or levies are allowed or not.
If your debt is purchased by collection agencies then you will have the hounds on your trail until you pay them or set up a payment arrangement.
How far are you in debt? can you be more specific, what types of accounts and the amounts on the cards. Ignoring the debt will just make it worse. If you list the debts maybe someone here can help you out or advise you on how to start handling it.
Welcome John. Glad to see you have turned here for help. Of course we will need a little more in depth info and hopefully we can advise you in the right direction.. I kn ow the debt world is a scary place and sometimes we end up there through wrong turns or situations beyond our control. So wind down for a little while and let us see if we can help.
You will need to give amounts and the companies that you owe that way if anyone else has dealt with them then they will let you know what their experiences have been with these companies.
Hi John
Goodnatured is right. If you do not pay back your debt, the collection agencies can sue you to the court to bring judgment against you. This judgment can even lead to garnishment of your bank account so long as the debt is fully paid off. So the best way to avoid judgments is to get in touch with your collection agency and ask them for a repayment plan which you think you can afford to repay. You can also go for debt consolidation loans which comes with much lower rates of interest, to repay back your debt.
:idea: A lot of your debt problems can be managed if you take some careful steps. First. make sure that all your accounts are authentic and that there is no fraud billing (you'd be surprised how many there can be). You could also start contacting your creditors and requesting them personally to increase your credit limit. If you have active credit cards use them to make small purchases and pay them before the due date. Look for great tips and better suggestions on mycredidetail.com. It really helped me out when I was in a similar situation. I've begun rebuilding credit and think this site could really help you.
What do you mean about fraud billing? Alos why would increasinfg the credit limit help in the situation if they can no longer make the payments. Soem people use rob Peter to pay Paul, in other words, ise one credit card to pay another, I find this is really a risky situation as sooner or later Peter will want his money too.