How Do You Stop Paying On Credit Cards?
Many individuals who are struggling to pay off their credit card bills seriously consider just quitting. The interesting thing is that it’s perfectly legal to stop paying on credit cards, and there’s not much that can be done about it. Of course, only in very serious situations should this be done, and individuals should understand the repercussions of doing so and the impact it will have on their future financial abilities. Accept the ramifications of your actions. Individuals who are going to stop paying on their credit cards need to know the ramifications. Maxing out the cards with the intent of filing bankruptcy is against the law. However, there is no law that states you cannot max out the cards as long as you don’t have intentions of filing bankruptcy in the immediate future. Also, not paying your credit card bills will seriously damage your credit rating. It may be impossible to receive another line of credit or get financed for anything in the near future. Understand and accept
