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What happens if the credit card is not paid?

Answered on June 25, 2015

Avoiding your credit card bill will do a lot of damage on your credit and you will need a good deal of time and effort to undo it.
When you miss a payment, you get slapped with late fees. If you do not make a payment for an entire billing cycle, you’ll be considered 30 days past due and this will be reported to the credit bureaus. Even one this item can cause a significant drop of your credit score, and the more payments you miss, the lower your credit score will be. Once you hit 90 days past due, the issuer can cut off your available credit and if you continue to avoid paying, your credit will be written off, which is called a charge-off. Having a charge-off on your credit report will make it hardly possible to get more credit in the near future. Also, a charged-off debt can be sold to collectors, which also be reflected on your credit report ruining your credit even more.
When you have trouble paying your credit card bills, it is recommended to contact your credit card issuer and work out a plan to solve the problem to hopefully avoid a ruined credit disaster.

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