Credit Card Mayhem
No place to hide?
The end of the story.
At least he can get loans, even if they are at robber rates.
But what happens if you don't pay up?
- Default on a credit card (or, actually any debt), and there is no place to hide.
- For the rest of your life, everything you do with money is going to go on your record. Everything will be tied to your name.
- Default on a bill like a credit card, and the late fees and penalties add up. Eventually the card companies sell your account to a "collector." And before you know it, you owe a lot more than you think.