2007-09-11 14:05:14 · 6 answers · asked by Anonymous in Business & Finance ➔ Credit
the creditors will haunt you for 7-10 years, can get judements against you, then take all the money out of your checking, savings, and paychecks to settle the judgments.
2007-09-11 14:08:52 · answer #1 · answered by spiritual guru 2 · 0⤊ 0⤋
The credit card companies will take you to court, win a judgment, garnish your wages, attach your bank accounts and lein your property. Don't have anything to take? No problem the judgment is good for 10 years and can be renewed. They'll just wait till you do have something.
Of course, your credit will be trashed. That means your car insurance will cost more and you won't get certain jobs since employers use credit reports as a measure of responsibility.
2007-09-11 15:17:16 · answer #2 · answered by bdancer222 7 · 0⤊ 0⤋
Used to just be a trashed credit report and no more loans except at loan shark rates .
Now , however , prospective employers , applications for insurance and lots of people are looking at the credit report .
Bad credit report and your job app goes to the bottom of the pile , if not file 13 .
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2007-09-11 14:10:36 · answer #3 · answered by kate 7 · 0⤊ 0⤋
Some creditors are even getting tough and filing criminal charges in some cases. Just remember that if you get into that situation, asking that question may show premeditation.
2007-09-11 14:15:49 · answer #4 · answered by Tom K 6 · 0⤊ 0⤋
The interests will continue to build up until you pay it in full! The creditors will harass you til you give them money.
2007-09-11 14:10:20 · answer #5 · answered by Anonymous · 0⤊ 0⤋
they can garnish your wages, you'll never have credit again and if you don't pay then they will take you to court and if you still don't pay they will take stuff you own.
2007-09-11 14:10:38 · answer #6 · answered by gail 2 · 0⤊ 0⤋