What happens if I don't pay my credit card debts?

The best thing to do is to prepare a new expenditure plan and show it to your bank in order to negotiate a new payment schedule
A credit card is a means of payment linked to a credit line that allows you to defer payments for your purchases. You can use it as a way to pay for goods instantly without having to carry cash or to purchase goods via the Internet. However, as one of their obligations, card holders must acquire a commitment with the issuing bank so the latter can advance the money required to finance purchases. In doing so, the bank establishes a credit line that has to be repaid within a certain time frame in accordance with the payment system chosen by the card holder, which may be subject to additional interest. Due to the last requirement, people are often interested to find out what happens if they can't repay their credit card debt (the amount spent, plus interest).
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You'll be able to pay for your purchases over time and use it at over 6,000 ATMs.
The first consequence of failing to pay outstanding credit card debt is late payment interest. If you find yourself in this situation, you must act as quickly as possible so as not to increase the debt. Failing to pay your credit card debt on time will increase the final amount you will have to pay to repay the credit line. Therefore, it's a good idea to avoid incurring any unnecessary fees or costs that will increase your debt.

Consequences of not paying credit card debts

If the owner of a card doesn't try to repay their credit card debts, the bank will implement a series of actions that will seriously damage the customer's financial position. The consequences of not paying your credit card debts are as follows:
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Pay for your purchases over time with the Después Card and use it at over 6,000 ATMs.
  • The credit card will be blocked: if the amounts outstanding on a credit card are not paid, the first action the issuing bank will take will be to block it.
  • New interest and fees: the funds used that exceed the credit limit agreed with the bank will accrue interest in addition to the interest the credit card is already subject to. Also, by failing to pay the debt, the card holder will owe more money.
  • Inclusion in a list of defaulters.
  • Legal claim: after doing everything it can to try to recover the debt without resorting to legal action, the bank may refer the matter to the courts if the debt remains unpaid over a long period of time.
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