When I received my first credit card, I used it to purchase both desired and necessary items. There were instances when I had to stop myself because my spending was spiraling out of control. I disputed all the unnecessary charges, closed my account, and settled the balance in full.
It is possible to avoid credit card debt by organizing your charges and paying in full. Many of you are probably pondering what will occur if you do not pay your debt. Of course, this is a no-brainer.
You will initially receive phone calls from your creditors informing you of your balance, followed by correspondence containing the same information. To avoid annoying calls, you must examine your caller ID to determine who is calling. If you do not respond or return their calls, they will begin leaving messages with settlement options in your voicemail. You will eventually receive inquiries from debt collectors.
If a debt collection agency has begun contacting you, you are in for an unpleasant awakening, as they will not be courteous. They can call you whenever they want, so you shouldn't be astonished if they call you at 6 a.m. before you leave for work. They will also attempt to compel you to use any payment method they choose. The creditors will charge you late fees and higher interest rates to make matters worse.
If you do not pay your debt, you may even be taken to court and prosecuted. If a judge deems you guilty, the agency will deduct funds from your bank accounts and checks to recoup their losses. If you register for another credit card, they will inform other financial institutions to deny you.
These are all potential obstacles you must avoid by making at least the monthly minimum payment. Creditors will appreciate your efforts to pay off the balance, and you will be able to slumber soundly.""
" - https://www.affordablecebu.com/