What happens if I just stop paying my credit card bills?
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Posted by 2muchdebt
(68.16.53.10) on February 07, 2003 at 19:55:07:
This will seem lame, but I wonder what would happen if I just stop paying my credit card bills. I have about $80k in credit card debt due to a severe family crisis. I was making the payments just fine until cc companies checked my outstanding debt and raised my rates due to "high risk". All of my interest rates are at 20%+. I can't pay them anymore and none of them will work with me.
What would happen if I just stopped paying them?
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