What happens if I do not pay my credit card bills?
The first thing is that the original creditor will charge this off. Which means that the original creditor is no longer financially liable. This credit card will remain closed; which will decrease your credit score. Non payments for each month will also decrease your credit score each an every month. Late payments give you the same results. If this account is sold to a collection agency then your best bet is to negotiate a settlement, and get everything in writing before making a final payment.
