Understanding Credit Card Debt: No Jail Time, But Serious Consequences

Reported about 16 hours ago

You cannot go to jail for unpaid credit card debt, as debtor's prisons were abolished in the 1800s. However, creditors can sue for payment, leading to a default judgment if you don't respond. This may result in wage garnishment or other legal actions to recover debts. To manage credit card debt, consider options such as developing a debt management plan, debt consolidation, negotiating with lenders, or, as a last resort, filing for bankruptcy. It's crucial to pay off debts on time to protect your credit score.

Source: YAHOO

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