Are you serious?
They own you if you do that
dont even try it

They can get a judgment against you and put a lean on your bank account to collect the money. They can also attach your wages and have it directly deducted from your paycheck before you get it. If it’s a serious problem, file bankruptcy. Then they can’t do any of that.

House repossesion, jail, bad credit, do you think they are going to turn a blineye, they will try to get their money back, if you leave the country do you plan to never return, because they won’t forget about you.

They can do NOTHING - a credit card is UNSECURED debt, and there is no debtor’s prison anymore. They can only call and harrass you (till you tell them to stop) and they can ruin your credit, that is all.

HARASS YOU!!!! They will find you no matter where you go and harras you for up to 25 years. They can file a lien in he courthouse records against your property and you’ll never be able to sell it get additional financing unless you pay it off, PLUS interest, PLUS court fees, PLUS attorney fees, PLUS late fees. They can and will attach your wages including your tax returns. They can attach money that’s in bank accounts. These credit card companies hire people and that’s all they do is keep trying to find the people that owe them money.

If you’re talking about deliberately screwing over a credit card company to see what they’ll do, I wouldn’t if I were you. I’m not sure about credit card debt, but I do know that collection agencies for doctors and landlords will come after your holdings in no time! Why take that chance with a credit card? Why fool around with your credit *at all*?

They report you to the credit agencies and ruin your credit.

Then, since they have 3 years from the date of last payment to file suit in court they wait until that 3 years is almost up then they file suit after the interest has grown exponetially.

If they obtain a judgement against you, you’re screwed because they can enforce that judgement at any time..it has no statue of limitations.

They can place a lien on your home. Which means they can’t take it from you, but you also cannot sell it without them getting paid. And if you die and want to leave the house to someone..they have to pay the debt before the title can transfer.

They can also place a lien on cars, boats, motorcycles..et al.

If, however you file for bankruptcy before they get a judgement against you…AND the credit company is an UNSECURED debt (Visa, M/C, AMEX etc..) you can have the debt cancelled by the banckruptcy court, provided the judge believes that you didn’t run the debt up to it’s max just to file banckruptcy and get a whole bunch of freee stuff.

If the debt is secured, (i.e. mortgage, car loan, department store credit cards) you cannot have those debts removed in banckruptcy court.

And finally, if you leave the country…they’ll wait for you to come back. If you don’t, they chalk it up as a loss and charge all the rest of their customers higher fees and percentage rates to cover their losses.

Well, it will be on your credit report. And if you plan on buying anything big, such as a car or a house, you’ll need a good credit score. You’ll need it even if you want to rent a property. It’s not ethical or moral to run away from your debt, but maybe that doesn’t bother you. Why don’t you try to work with some kind of credit counseling or something and work out a way to pay your balance. I’m sure they can do many things to you. I’m guessing that since you have so much money on credit, how do you plan on buying things in the future?
Look at this site, because they asked a similar question

Good question. They will try every tactic known and unknown to make you feel like crap. They will call you names and harrass you. They will try to intimidate until…
You tell them to stop
BUT, if the debt is legit, you should make repayment plans with them, most of the time they will work with you. They Cant take your birthday away or anything.
The best help I’ve seen in this area is by going to
Awesome site!!!!! I personally cant get enough of his teachings, He was a millionaire by the age of 28, went bankrupt and now is a MULTI MILLIONaire at age 46!!! He has 2 or 3 books on NYTimes best seller list and his daily radio show is the number 1 business section download on itunes. Check Him out, they have a gob of information and even where to get exerpts of the laws etc. There is a frequently asked questions section, click on it and scroll through them. I Hope it helps, it sure has changed my life for the good, for good!!!!

From personal experience, they can take your car, or any property that has value, and put a lien on your home. They cannot put you out of your home, but they can make it so that when you sell it, your debt to them gets paid before you see any money from the sale.

If you want to protect your vehicles or other personal property from seizure, change the title to someone else who you can trust. However, the simplest way to address these problems is through bankruptcy.

I’m not sure what happens when you emigrate, but I would imagine that the debt may well follow you since the large credit card companies operate world wide. It may take them a while to find you, though, since you will be issued new identity numbers in your new home.

I was faced with the very situation you describe. My business failed after the events of 9/11(hospitality industry, Florida), and I had far more debt that I could even hope to pay. They seized my truck, put liens on my home, and harassed me non-stop on the telephone. After hurricanes Frances and Jeanne pretty well destroyed my home, and after my home owner’s insurance was canceled because they didn’t like my dog, I declared bankruptcy, and let the credit card companies scrap over the leaky, mold filled wreck of a house. I landed on my feet back in my home town, using the money FEMA gave me to move, and all is well now.

There IS life after crippling debt!

Before you do something that ruins your credit, be sure you understand the impact. Credit reports are used by more businesses than credit card companies.

A bad credit rating will make your car insurance more expensive.
Insurance companies check credit ratings, and charge more for customers with bad credit, regardless of driving record.

A bad credit rating can make it difficult to get a job. Many employers check an applicants credit report.

I stopped paying on my 3 credit cards (2 discover and 1 citibank). After a year they turned me over to a collection agency and my accounts show as a charge-off on my credit report which hurts really bad. They didnt take my house, my car and didnt throw me in jail! I will forever owe that debt though and am now trying to repay it through Family Credit Counseling Corp, which is a non-profit debt counseling service.

I stopped paying on a few credit cards years ago. The most that I got were collection calls and a bad credit rating. It may be different in each state. I didn’t own any property or assets during that time, so there was nothing they could take from me. Understanding the circumstances and mistakes that I made back then today, I’m trying hard to get out of debt and my credit back on track. I wouldn’t suggest to stop paying just from speaking from personal experience.

That much credit card debt. Just file bankruptcy and forget about them. Wait 6-12 months after fileing and start fresh all over again but use common sense.