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

Reported about 1 month 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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