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It depends on the country you're living in, you need to check the laws. I think the law in my country may allow that, not really sure, but if it does it very, very rarely happens. The best thing to do would be to not put yourself in that sort of situation in the first place.
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It definitely depends on the country you're living in. As what others have told or have said, if you didn't pay your bills or don't actually have an intention paying then most likely the thing that would happen to you, is you'll get ban for getting any credit card that your country can produce or can lend. And it sucks, so paying your debts would be the best option in any other ways.
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01-08-2018, 02:54 PM
(This post was last modified: 01-08-2018, 02:54 PM by chikatilo.)
In my country if you don't pay your debt, the credit card company will contact the state authorities and thus will obtain the right to repossess your car, belongings, even your apartment, but they won't send you to jail. They will basically leave you out on the street homeless with nothing.
Even if someone with unpaid debt dies, the bank will go after his immediate relatives and will demand that they pay off his credit balance. It's crazy. This is why people here are really cautious about credit cards and overspending.
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I don't ever heard about someone who got jailed for this reasons, but somehow I think this is possible. Not paying your credit card bills is like evading your responsibility in paying your loans. This can be somehow related in stealing money that doesn't belong to you. You can be marked as a thief in our society plus how can you ever sleep without conscience that you didn't pay them and you will run their money.
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I guest the bank will just sue you and you need to set your signature to an agreement when you can pay your debts.
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Not paying your credit card debt will not result in jail time. It will have a bad effect on your credit score. Over time it will effect your credit score less and less. Depending on how much you owe and how many on-time payments you made prior to failing to pay, you can negotiate getting rid of the remaining balance on that credit. Also, if the creditor sells your credit, then you do not have to pay it necessarily. However everything is case by case and depending on where you live.
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It is possible but it takes anlot of process. The agency or company where you applied for the credit card will send you mails containing the due date, the amount and notice if you did not pay for the money.