i dont have money to pay my debts in my credit cards.can the bank put me into jail?

Answer 1

No they can't, its not a criminal offence.

They can put debt collectors onto you though.

Best to contact the Citizens Advice Bureau sooner rather than later who will be able to help you. You can make a deal with the banks where they will freeze the interest, and accept a regular monthly payment over a number of years to clear your balance. Its best to be pro active on this, rather than waiting until debt collectors etc get involved.

Answer 2

No jail. Usually one credit card will give you a good, low interest rate if you transfer the balances of your other cards to theirs. This way some of them are paid off and then you have one payment on the one card. I have successfully done this. Choose the card that will give you the best interest rate and the best deal. Usually the low interest will last for at least 1 year. All of the major credit card companies do this. Call or sometimes this offer will be in with your bill. Good luck.

Answer 3

hi Chris you may no longer borrow your way out of debt ..Write down all your debt each little thing.. those so called consolidation companies are dropping their non earnings status with the government.. i do no longer think of pupil loans could be a area of this anymore ,,yet take all your debt tips that could a legal professional and declare financial disaster..Get out your mess and forget approximately approximately it .. initiate a clean and spend in basic terms the money you earn..

Answer 4

No you wont go to jail, but they can garnish your check depending on your state laws. Some states even allow them to freeze your bank accounts. Your best bet is to call them and try to make a pament arrangement with them if you can, and pay them as you say you will.

Answer 5

No... they know that your gonna be poor the rest of your life.... that's punishment enough.

Answer 6

No,just do the best you can.

Answer 7

no but they can take you to court

Answer 8

no