[JAMES JUDKINS]

My wife has used my credit card and has previously been making payments on it, basically its her card and , (at least as far as our household is concerned). Recently she failed to make the appropriate payments and now the card is passed due. I contacted the company and asked if they could lower the rates in order to catch up on payments but the best they could do was 21 percent. To me that's not acceptable. If we don't pay what are the prospective outcomes.

[CaptainForest]

I contacted the company and asked if they could lower the rates in order to catch up on payments but the best they could do was 21 percent. To me thats not acceptable. If we dont pay what are the prospective outcomes.

LOL. What kind of rate did you expect? This is a CC Company we are talking about. They are ruthless.

If you don't pay? It will go onto your credit report, it will lower your credit score, you will rack up lots and lots and lots of interest.

Pay if off NOW.

And stop using credit cards. Only use a credit card IF YOU HAVE THE MONEY to pay it off.

[nwsflash]

I agree with CaptainForest that's good advice... Credit Cards are out to make as much money as they can that's why there interest is always so high, they love late fee's etc makes more profit for them.

Have you looked at maybe taking out a personal loan on a much better APR? Debt consoldation means you can spread the cost over a term that fits your wallet and have it cleared off at a term that suits you, and these are normaly better rate's on interest offered.

As Captain say unless you want to lower your credit score and make problems for further plans pay it off, if you don't you will just damage your credit report.

[Fr_Chuck]

As Captian said,

If you don't pay, they continue to add late charges and more interest while they send you collectoin letter after collection letter. Soon they will start calling your house and/or work trying to get the money.

At some point they will turn it over to a collection agency who will add more and more charges and interest.

If it still does not get paid, they will file a law suit in court and get a judgement against you.

Add all of this to your credit report and you will not be able to borrow a cup of sugar.

Then with the judgement they will garnish your or your wife's pay if you work. If you have a bank account they will try and get all the money that is in the bank.

So basically if you don't pay they will send their entire day trying to get their money and making your life awlful till they do.

So cut the card up, don't use it again if you can't afford to pay it.

Go out and borrow money from the bank or even local loan company at lower rate if you can and pay the credit card company off.
If not pay them and learn a good leasson.

And get real, you are married, it is not "her" or "mine" it belongs to both of you. Saying yours or mine is merely trying to blame someone,

[Hydraulic001]

If You Don't Pay You Will Be Issued A Late Charge Which Will Be Added To Your Next Months Payment So Then Your Stuck With A Payment Anyway, Plus A Fee Which Could Be Anything From £12-£25 Plus The Interest Charge, If Your Credit Is Still Reasonable I Would Be Shopping Around For The Best 0% Interest Deals And Applying For The Card, Then Transfer The Whole Balance Onto The New Card, Completely Cancel The Old Card Account And Destroy The Card, Then You Should Concentrate On Using The 0% Offer To Pay As Much Off As You Can Comfortably Afford Every Month And The Balance Will Drop Like A Stone (no Interest To Be Added On Each Month) Resist Spending On The Card Cos The Chances Are You Will Only Get A 3 Month 0% On Purchases And Will Be Back To Square One On The Interest Again.
And In Futuer Only Use A Credit Card If You Sure You Can Meet The Outstanding Payment In Full Every Month.
Credit Card Companys Love Us "mortals" Who Rely On Credit To Meet The Shopping Bill, The Interest Rates Are Killing Us Before We Know What's Hit Us.
Be More Careful When You Finally Get Rid Of The Outstanding Debt