You didn’t really expect this to happen. It just didn’t seem like a lot of money at time, but a couple months have passed and when you look at your credit card statement it dawns on you that you’re in serious trouble and there seems to be no way out. Honestly, if you are like the majority of people, the idea of simply not paying your debt has crept into your thinking. Before that thought lingers much longer, let’s take a quick look at what happens if you decide not to pay your credit card debt. Also, let’s consider a better way to deal with this situation such as debt settlement so you avoid bankruptcy and you don’t face delinquency on all of your credit card bills.

First off, if you don’t pay your credit card debt some very unpleasant things will begin happening to you. You will be reported to the credit reporting bureaus, legal action will be taken against you and creditors will begin to call. You really do not want creditors calling your workplace or home. You will definitely feel like you are being harassed even if your creditors follow the letter of the law. Next, derogatory marks will be made on your credit rating when you are reported to the credit bureaus. The ultimate act your creditors will take against you is to file a legal action, which can garnish your wages and put liens against your assets.

Instead of not paying, you should consider debt settlement, debt consolidation or consider credit counseling. There are many reputable counseling agencies available online and they can help you decide what the best option is for obtaining debt relief. First thing they will do is a complete review of your financial situation. If your credit card debt amount is not too huge, they will work with you to plan a budget and help you become organized in making your payments timely so the debt gets paid off.

Credit card debt consolidation is another option they might suggest. The agency would take your current debts from all your different cards and then get you either a new credit card with zero percent balance transfer fees and lower interest rates or a low interest rate loan. They would then transfer all of your existing accounts to this new account, close all the other accounts, and then you only have one lower monthly payment to make.

The credit-counseling agency might suggest that you try debt settlement if you have a significantly large amount of credit card debt. Only the agency can do this on you behalf. They are often very effective negotiators with the credit card issuers and can usually settle your accounts for a much lower dollar figure. Attempting this on your own is usually futile which is why you will have significantly better results using a professional negotiator.

Given all the terrible things that will happen to you if you do not pay your credit card debt, it is advisable that you get professional credit card debt help to take care of your financial troubles. Credit-counseling help isn’t a “fun” process but is much more preferred than having creditors call, legal action taken, a bad credit rating, or even resorting to the dreaded bankruptcy filing.