Are you up to eyeballs in debt?  What happens if you don’t pay those credit card bills on time?  Is your credit ruined forever?  If these are just a few questions that you have been asking yourself, then continue on.

There can sometimes be a fair amount of confusion in relation to the question of what happens if I don’t pay my credit card bills. There really is a enormous volume of info on the Web regarding credit cards. If you take a look at the Internet it’s not difficult to grasp why it can be really confusing. The good news is that there’s no need for it to be even remotely like this.

After the period of sending out a few reminder letters, there are a few things that can happen. You may have one or all of these happen to you.

The credit card company may decide to employ the services of a credit/debt collection agency. From an immediate standpoint, this could very well be the most unpleasant effect that you could experience in the short-term.

The next recourse would be to legal action. This may or may not worry you as much as the idea of a debt collection agency but this is also very serious.

Probably the worst aspect of this when looking into the future is the long term damage to your credit report. While this damage may not be your most pressing concern just at the moment, it is a big problem. This will seriously damage your ability to get credit and will hamper your financial well-being for years to come.

The real key is to act quickly to stop any of this from happening. All of the best moves you can make are things that you need to do now. Luckily there some worthwhile steps you can take straight away.