what happens if you haven't paid a credit card bill in 2 yrs?

Answer 1

you'll probably have a bad credit rating.

Answer 2

It depends on the amount. The company will give you a bad credit score, you will have to pay more for starting up services (electricity, water, phone), if it is a large amount the company can put leans on you, when you plan to get a tax return, the government can turn around and give the money to the creditors. It is all about how big the debt is. If you are completely negligent you can have warrant, but cops rarely act upon them. The company will make many threats that seem life threatening, but they are not, they just tell the workers to scream at you till they are blue in the face. They can not deny any amount of payment, if you send them 5 dollars and the bill is 40, they can't bug you and tell you they will not take such a small amount, it is against the law if they refuse.

Answer 3

1. it depends on the amount. If it was only fee or interest or a very small charge, maybe the credit card company would waive it off.
2. Ofcourse, in other circumstances, as others have also mentioned, your credit rating would head south.
3. Depending upon the amount outstanding, your account could have been allocated to a collection agency for collection. In some circumstances, the credit card company could have even sold the debt to a debt recovery company. This would mean that you are no longer the customer of the credit card company.

Answer 4

If it has been two years, definitely do not pay them now. Negative items fall off after 7 years on your credit reports, and paying an old debt restarts the clock. So instead of it being gone and forgotten 5 years from now, you would have to wait 7. This is one of the myths many people believe, that if you pay an old charge off it will make it all better. It won't, instead of a outstanding balance collection it turns into a paid collection, but the collection itself is what hurts your score, not whether or not its paid.

Answer 5

I think u live in the US. The best is do not listen to all this crap answered by many. Credit rating never heads south. O.K do not worry. Go to a attorney and find a solution. u can and u will be happy. Credit card companies indulge in usuary. usuary is punishable.

Answer 6

You will get bad credit and will show up on your reports. It is probably in collections by now. But, as a reminder, there is a statue of limitation by state. This means that after a certain amount of years, by law:

Statute of Limitations (SoL) on debt is the legal time limit that bars enforcement of the debt through the court system. It does not apply to all debts! Use the information on this page and website to learn about your state's Statute of Limitations on debts and whether or not the rule applies to your situation.
Note: The purpose of the information provided here and elsewhere on this site is to help educate people on some of their rights and a few of the laws and other rules that apply to many debt and credit issues. I do not provide this information to help people avoid paying valid debts. On the contrary, I believe that if you owe a debt and it's valid and you have the financial means to pay the debt, then it is your duty to do so.

I also recognize that at some point in time, and for a myriad of reasons, many of us encounter financial difficulties. When financial disaster strikes, we need help which is why we have laws such as the statute of limitations, bankruptcy and many other debt a credit protections laws. I encourage you to use the information below to educate yourself on the Statute of Limitations but to also seek professional financial counseling before making any decisions that might effect your personal financial situation.

Although there are State and Federal Statute of Limitations on certain types of debts, this page concentrates on statute of limitations as defined by state laws and state civil collection codes!.

WARNING! Not all debt has a statute of limitations! Also, when the SoL expires, it can be used as a defense to bar collectors from collecting through the courts, however the debt DOES NOT go away! Collectors can still attempt to collect the debt using other legal dunning methods

For instance, there is NO statute of limitations on:

Federal Student Loans;
Most Types of Fines;
Past Due Child Support (state dependent); and
*Taxes (In many cases, income taxes have a 10-year SoL but this can be suspended as well as have more time added by filing the proper forms. Check with a local tax resolution expert about your particular situation.
The Statute of Limitations on debt depends on the type of debt and your State's civil debt collection codes. Generally, unsecured debt expires 3 to 6 years after the last missed payment or the consumer's last activity on the account. Written contracts such as car loans generally expire after 6 years. Judgments can last up to 20 years and can require the judgment be renewed at a certain point such as the 6-year point.

Answer 7

First of all why have you not paid your bill? Second of all you can kiss your credit rating good by.

Answer 8

your principal bill will be added with alot of interest upon interest and you will be recorded on a credit bureau as a bad payer or listed as a default on your credit profile. your settlement can be about 3 times what you think you owe

Answer 9

Your credit score has gone straight to hell buddy! TWO YEARS OF NOT PAYING A CREDIT CARD BILL!

Answer 10

It was turned over to a collection agency a long time ago, and your credit is destroyed.

Answer 11

your credit score goes to about 350-400. Not good.