Are you or someone you know struggling with debt and falling behind on your payments? Are you wondering what happens if you fall too far behind on your credit card payments? Most people know that they can expect a hit to their credit score and phone calls from creditors, but people often believe that since the debt is unsecured, nothing more serious can happen. However, this is not the case.
Ignoring your credit card debt can be very dangerous to your financial situation. In episode 009 of the Fresh Start For Life Podcast, we explain in detail what happens when you fail to pay your credit card debt and what you can do when you find yourself falling behind on payments.
We discuss the following topics in this episode:
- What it means when a credit card company charges off your debt
- What happens when a credit card company sells your debt
- What to do if you’re receiving phone calls from a company that has purchased your debt
- How you can be taken to court for your credit card debt
- What happens when you ignore a lawsuit filed by a creditor
- What your options are when you’re having financial difficulties
- What to do if you’ve been sued
- When to consider bankruptcy as an option
At The Golden Law Group, we are committed to helping clients resolve their debts and determine if bankruptcy is the right option for their situation. If you have more questions about credit card debt, call (813) 699-4911 to request your free consultation with one of our attorneys.