Legal Question in Credit and Debt Law in Michigan
credit cards
if you stop paying on your credit cards what will happen
3 Answers from Attorneys
Re: credit cards
You will first have debt collectors calling, your credit card may or may not sell the debt to another company, or will directly sue you, if you don't respond a default judgment can be entered and your wages and bank account garnished.
Re: credit cards
Your creditors will begin attempting to collect the debt from you. If you do not settle the matter with them, they will file a suit against you, achieve a judgment and garnish your wages or other income.
If you would like information on how to deal with debt collectors, please visit my website at www.lawrefs.com and click on the consumer law section.
Re: credit cards
If you can no longer afford your credit card payments, you should consider filing bankruptcy to protect your assets and wages.
Please feel free to contact me for a free consulation at 248.679.1552.