2006-07-17 20:43:50 · 8 answers · asked by sHeNg 1 in Business & Finance ➔ Credit
Congratulations! You will be the first one.
2006-07-17 20:51:08 · answer #1 · answered by ash_m_79 6 · 0⤊ 0⤋
If you rack up lots of debt, then skip town, that is fraud, and you can go to prison for it.
Just getting in debt wont send you to prison, but the amound you owe will continue to get larger, snowballing as it gains more and more interest, even if you dont keep using that card, the amount will still go up.
Going even a little into debt will hurt your credit rating, and too much damage to that will deny you things like getting new credit cards or loans for a house or car.
2006-07-18 03:50:35 · answer #2 · answered by Sum_Guy 3 · 0⤊ 0⤋
Not in the US, mainly cause in England they used to have debtors prisons where people essentially became slaves, because they could never pay off the debt because they were inprisoned. What they do however, is ruin your credit rating making it hard to get another credit card or loan again. The only creditor that can do that is the IRS, and the three forms that usually takes is back taxes(tax fraud), defaulted student loans, and back child support, however they will usually garnish your wages before it ever comes to that.
2006-07-18 03:47:34 · answer #3 · answered by dude 2 · 0⤊ 0⤋
Prison or jail, no I don't know of any one but it can happen
2006-07-18 03:47:39 · answer #4 · answered by boy_jam_arch 6 · 0⤊ 0⤋
no they can't do that here...debtor's prison is a thing of the past
2006-07-18 03:46:15 · answer #5 · answered by Velociraptor 5 · 0⤊ 0⤋
No. At least not in the US.
2006-07-18 03:45:28 · answer #6 · answered by Anonymous · 0⤊ 0⤋
no they dont do that unless it was fraud !!
2006-07-18 03:48:01 · answer #7 · answered by ronald r 3 · 0⤊ 0⤋
many..........out of US.
2006-07-18 05:45:07 · answer #8 · answered by sbacharya_61@yahoo.com 2 · 0⤊ 0⤋