If I am nt pay back credit card !!

ukposhgirl

I have a Morgan Stanley credit card , currently have 1000 pounds debts on it , if I wil not pay back the money forever, wot is the worst things wil happening to me ? The debt collecter wil come 2 my door ?
I dont care the credit rating , just cant pay back
Thanks
Tracy

JasonW_2

Well you should care about the credit rating and find a way to pay it back. At least speak to them to let them know you're having problems paying and they will let you know if they can help, or what happens next. Ignoring it and hoping it will go away could have bad implications on your ability to get credit in the next few years, upto 6 years. Also a bit more info on why you "can't" pay it back might mean someone can help

tabytha

Joke post maybe?

Bokken_2

Welcome to MSE.
The worst that WILL happen is you won't be able to get any credit at all.
A mortgage to the value you would like,no DFS sofa ,no car etc.
Court appearances for being a debter etc.
All of that is a bit harsh for a £1000 pounds don't you think?
have a good look around the other forums ,debt free wannabes forum may be a insiprational place to start.
Everyones circumstances are different and at this time you may only be able to pay a little back but over time you will get rid of it there are lots of people here that will help you along the way.
Think smarter not harder and you will be able to get that debt down.
Have a look at ways to create FREE cash and use that to help pay off some of the debt.
Good luck.

Bokken_2

Or just a newbie that needs help and insipration.

Cara79

ukposhgirl wrote:

I have a Morgan Stanley credit card , currently have 1000 pounds debts on it , if I wil not pay back the money forever, wot is the worst things wil happening to me ? The debt collecter wil come 2 my door ?
I dont care the credit rating , just cant pay back
Thanks
Tracy

Hi there

Well if you have £1000 debt on your credit card and intend never to pay it back, it will accrue interest daily. If you can never pay it back - why accrue the debt in the first place?

Your debt will be passed to a debt collector, who in turn will start court proceedings to claim the debt back.

This will affect your credit rating for life. You should care. This will affect you getting any other bank accounts, any other credit cards, loans and of course a mortgage. If you are married or ever intend to marry and get joint accounts etc your bad credit history/rating will affect your spouse.

Why not post some more details so we can help?

Also, why not speak to your credit card company and explain you are haivng problems and they may freeze the interest or you could agree a monthly amount that you can pay.

Obviously we are not aware of your circumstances, but posting a statement of affairs on the debt free wannabe board will help. £1,000 is an amount of money that can easily be paid off. Again, I will reiterate we do not know if you have other debts or problems.

Post some more details and maybe we can help.
Cara

Chadsman

eventually you could/would be made bankrupt meaning you would lose your car, house, furniture, just about anything of value.

INT1

What a silly post!
Why spend the money in the first place!
All good standing people pay in the long run with rate and charges for bad debt!
If you call them they can set up an arrangement, it will show on your credit file, as previously mentioned make it hard for you to get credit, even make it hard for you to get a mobile phone contract!

carl310166

It's got to be a wind up post,isn't it???

INT1

Yeah, judging by the username!

ukposhgirl

i want be a posh , nt a posh , the upper ppl is a stupid , i want a answer nt a laugh , u better cut the !!!! off