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Growing credit card debt is one of the major problems in this country. Faced with bills that are out of control, many times people try to avoid paying off there debt. While in the short term, this may sound like a good idea; it should be avoided at all cost. Nothing will ruin your life more then un-paid bills. The following is a list of the unfortunate things that will happen if you refuse to pay your credit cards.

Late Fees

Anytime you pay a credit card late you will be charged late fees. These penalties are usually between $30-50. This in on top of the interest rate you are charged monthly.

Collection calls

This is perhaps the most annoying part of having a bill that’s overdue. Collectors could be calling your house several times a day, both at your home and work. They have also been known to use psychological techniques to force you to give money you don’t have. It’s important to understand that you do have certain rights. For more information concerning your rights take a look at the Fair Debt Collection Practices Act.

Legal action

Although it is rare, credit card companies can garnish wages, or put a lien on your property.

Damage to your credit score

Perhaps one of the most long term effects is the damage to your credit score. Anytime you miss a payment, you credit rating will be effected in a negative way. This will make it more difficult to get a loan. Not only that but late payments can stay on your credit report for months if not years.

Don’t worry if you’re a victim of a poor credit score. Help is available. Make sure you read: Fixing Your Credit Score today. This excellent article will show you step-by-step exactly how to fix your credit score after it becomes damaged. http://www.Easycreditscoresolutions.com is dedicated to helping people understand all aspects of credit.

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