Comments on: What Happens If You Don’t Pay Your Credit Card Bill?

By: Tess

Tess — Tue, 03 Jan 2012 04:52:26 +0000

I opened up a Walmart credit card last September for the sole purpose of financing a television with my boyfriend. We were making payments on it, monthly. I had let him use it for gas a few times during emergency situations. However, just this evening, I looked at the balance and he had reached up to 3,000 dollars. I do not feel I should have to pay for his charges. And I’m also considering taking legal actions. How do I go about doing so?

By: Junter

Junter — Tue, 09 Aug 2011 15:26:37 +0000

I have a current credit card balance at Citigroup Visa of $9,000. My social security monthly benefit is deposited at Schwab Bank. If I don’t pay Citibank, what happens? Can they garnish my social security? Can they freeze my Bank account? Can they intercept social security deposits?

By: Amanda

Amanda — Wed, 02 Feb 2011 23:18:54 +0000

If you’ve received a Default Judgment in a court of law, you’re subjected to a lien being placed on your home. Wage garnishments as well as bank account garnishments can only legally be enforced IF the debtor has been previously notified in writing. It’s very difficult to prove if you have not received prior notification(s) but if for whatever reason you did not, then you should pursue. This however does not stop said lien(s) nor wage and bank account garnishments from occurring in the future. It will linger until said debt(s) owed are paid in full.

By: Mike

Mike — Wed, 17 Nov 2010 09:21:50 +0000

Hello

My checking account and savings account were just wiped out to $0.00 by a credit card debt. I had a few thousand dollars in my bank accounts and that was the most money I’ve had in any bank account since my student loan days in college. I was finally getting my life together.

My original credit card debt was $2500. It’s the ONLY credit card I’ve had and it has destroyed my credit. I got it when I was 19. When I was 21 I couldn’t keep the payments up, then they sold it to a collection agency when I was 22. They demanded payement and threatened me. I didn’t know then that all I had to do was pay them something, 15.00 even and they couldn’t do anything to me. But I didn’t know that so I ignored their threats, figuring that one day I would pay them when I could afford it… knowing full well it would destroy my credit and give me several thousand dollars extra in fees to pay.

Now I’m 30.. my credit is ruined.. I now owe almost 8,000.00 and now they wipe my bank account clean? leaving me no money for food, gas or bills? Boy, that’s one credit card I shouldn’t have signed up for!

So is this legal? Can they really just wipe someone clean like that? Isn’t a credit card an unsecured loan- isn’t that why they justify such high interest?

For the record, I wasn’t running from my debt. Its just that every time I tried to work a deal, they demanded payment in full, or a settlement. I could never afford their terms. So I opted to ignore them until I got my life together so I could pay them 10 times the amount I borrowed. Not a smart plan.. but I didn’t know any better. I was unemployed for 2 of the last 3 years. and for the last decade my yearly income averaged between 14-16K. I finally got a break two months ago and found a decent job, and they take it ALL away from me? Shouldn’t they just be allowed to garnish, or take a percentage?

I feel very violated and now I am financially destroyed, again… right where the collection agencies want me.

Can anyone help me? Is there any legal protection that I have? We’re talking about 2500 dollars here. now its up to 8 grand and they just took everything from me all at once. My bank allowed them to take it because they had a “legal order pledge”. If they just would have allowed me to pay 50 bucks a month, I would have been able to do that. What do they want, my soul?

Thank you

By: Maria ael

Maria ael — Sun, 29 Aug 2010 20:56:55 +0000

I have a credit card with Macy’s. My interest rate is 24%. For the past 8 years I have been making payments on time. I have my own apartment and a 15 year old daughter. I do not get child support or any other kind of income but my job, which I am a preschool teacher. About a month ago I had a choice to put food on the table or pay my bill. I stopped paying my bill. The credit credit company afforded me a deal. A payment program plan drop my inerest rate to 15% for one year and pay $70.oo a month. Is this a good deal?

By: John

John — Thu, 17 Jun 2010 04:32:48 +0000

I’m not going to pay my credit card debt of $14,000 I CANT MAKE IT NO MATTER HOW THE TRY TO LURE ME INTO reduced principal and reduced monthly payment. Several collection companies tried calling me but I’m not going for it. I was self employed for 20 years – it ended 4th quarter of 2008 – company closed down. I’ve been receiving unemployment for over (1) year, have no checking, no savings or liguid assets, no stocks, no insurance, no help with the bills – no nothing – just me and my 62 year old wife are trying to survive. My house payment has always been on time, I gotta second with the mortgage company of $188 4% interest only. The credit card is unsecured – so what could they really do to me????

By: judith

judith — Wed, 16 Jun 2010 02:11:21 +0000

my boyfriend has been paying weekly a large sum out of his pay to a lawyers office that consolidated his ex wifes credit cards that he got stuck with, well they stopped paying on the credit cards for the last 14 months and only pd on his truck, four wheeler and harley. today the 3 are paid in full and now they say he still owes 18,000 on the credit cards. Is this possible? I would think that if the credit card companies havent gotton any money for 14 months that they probably charged off his balance owed. hes been paying on them for 4 years. Im affraid the laywers office is gonna keep the last 18,000. my man has been punished enough by his ex wife . any comments would be great!!!

By: kiki b

kiki b — Tue, 25 May 2010 07:03:51 +0000

Hi, I have attempted to get my apr lowered with wf, chase and ae. No one was wiling to help me. Now that i’m wayyyyyy past due they want to work something out. So backwards. I would like to know if the cc companies can take my $$$ from another bank account or take $$$ from my cd account? if so will they send me a notice in the mail regarding this? i still make payments on my account it’s not the minmum because i just don’t have anymore cash. 40 yrs of great credit gone. what can i don at this point?

signed. Recession has killed my credit!!

By: lynsey

lynsey — Wed, 21 Apr 2010 20:44:29 +0000

I am a full time college student I am not working at the moment, I owe 2000.00 in credit card bill that my mom was paying monthly but she notice the interest charge is 50.49. She was paying around 60.00 a month and the bill was not getting any lower, so we close the account and since I am not working ( my mom is on disability she does not want to continue payment) she said she’s just paying the charges and none is going to the actual bill i owe. What can we do? We spoke to the credit card supervisor they were not able to lower in a way that would make a difference. What can we do?

By: Lydia

Lydia — Sat, 20 Mar 2010 19:55:36 +0000

Wells Fargo is also a disgrace! I have a checking account with them as well as a Visa card. They jacked up my interest rate on the Visa to 22.85%. I make my monthly payments on time but I can’t do this much longer. Between their interest rate and the finance charges plus the high interest rate on my mortage with them, I’m going to go broke. I have tried and tried to negotiate with them to give me a lower interest rate but they continually refuse and are rude about it. I am going to close my bank accounts with them and go to a credit union.
They are like loan sharks. They took taxpayer money in the form of a bailout yet they could care less about their customers.