Besides harming your credit history, you might face the following outcomes if you pay your bills late or don't pay your bills at all:

You May Be Charged a Late Fee

• Anywhere between a few dollars to a percentage of the balance due

Your Credit Card May Be Frozen

• So you can't make any more purchases

You Could Be Denied Services

• If you are late on utility bills or rent, your service could be discontinued or you could be evicted
• You will have to pay any unpaid balances and expensive fees and deposits to reconnect your services

You Could Face Legal Action

• Such as garnishing your wages, where your employer is forced to send a portion of your pay to the creditor before you get your check

You Could Lose Your Property

• Creditors may seize, repossess, put a lien on or foreclose on your assets, such as your car or home

Did You Know?

Falling behind on payments can cause serious financial problems for years.