If You Pay Your Credit Card Bills - What Are The Benefits?

If You Pay Your Credit Card Bills - What Are The Benefits?

by Bryan Burbank

Are you in a situation were you just can't seem to keep up with your minimum credit card payments? Have you ever wondered that maybe I will just stop paying them all together. You think about it and are not sure if it is the best thing to do, should you keep paying them and hope one day they will be payed off or should you say screw it I am not going to keep giving my hard earned money to these guys.
Learn How To: Eliminate Debt

Let take a look at a situation were you stop paying them all together. The first thing that will happen is that you interest rate on your cards will go to the maximum amount that they can charge. Next you will start to receive call from the bank who the card is issued through, then later the calls will come from the debt agencies that the credit card company has sold your debt to.

The truth is that you can always send a cease and desist letter so you can stop the phone calls from coming in. Also you must know what your rights are and find out what the credit card companies are allowed to do. They are not allowed to threaten you in any way and it is illegal for them to talk to a family member and threaten them as well.

If you can get into a situation were you can negotiate the debt, then you can pay the credit card company off at a fraction of what the original debt is. Also it is important to know that the statue for credit card debt is 4 years.

You need to be informed when deciding to Pay your Credit Card Debt or not.