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Can I simply refuse to pay credit card bills, but still pay an internal payment, car payments, etc, then just use cash and check everything?

5 Thoughts on What can credit card companies do not charge account holders to hand them a bad credit?
  1. girlwhoknowsitstrue
    November 22, 2012 at 3:33 pm

    They can sue you, and get a judgement and garnishee your wages – which means that your paycheck goes to them, first.

    Also, you may find that your payment goes up on your house or car payment – many of them have clauses that allow the rates to rise if you are deemed a bad risk.

    You will find you pay more for homeowners insurance, car insurance, and may not be able to rent a car.

  2. Angie
    November 22, 2012 at 3:47 pm

    You can do that. But you’ll ruin your credit rating with non-payment of bills. So if you decide to move and need a new mortgage, you probably won’t get one. Also, if you need to finance a car, you probably won’t get a loan for that either. Oh, and the credit card companies will take you to court and have a lien put on your property.

  3. porcelina_68
    November 22, 2012 at 4:00 pm

    If you already have a house and a car, then yes, you can do that. But don’t be surprized if they sue you, win a judgement, put a lien on your property, and garnish your wages. Of course, they have to have court orders to do any of that, but they can.

    Your credit rating doesn’t have any affect on how much your insurance premiums are. But, it may stand in the way of you getting a decent job later on in life.

  4. Hunny Bunz
    November 22, 2012 at 4:28 pm

    If your credit rating gets bad enough, I know many banks will not allow you to keep your account open. There are several people I know who can’t even hold a bank account because of past bad credit. They can add outrageous late fees which can far exceed your balance. I heard of a lady that was being charged an extra $ 400 per month in late fees!! It will ruin your credit for life – that means never owning a car, home, motorcycle or anything worth having. My suggestion would be to try to get it paid off and just learn from the credit lesson and try to use cash after that. It can take forever to get cards paid off, but I did it and now live within my means – not so much stress and it feels way better.

    November 22, 2012 at 4:36 pm

    Well lets see, they can sue you, get a judgment, attach your bank accounts, garnish your wages (if your State allows it) and file liens on any property you may own like cars, boats, land and homes.

    All of this activity will show on your credit for the next 7.5 years and if your mortgage and car notes have the universal default clause in their terms and conditions the interest rates will skyrocket.

    You will pay more for your car insurance, and not be able to get any other types of loans without paying huge down payments, massive fees and State maximum interest rates.

    Other then that not much.

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