What happens when you have piled up thousands of dollars in debt from credit cards besides a bad credit score and creditors constantly calling you. Can you eventually be prosecuted? Has it happened to anyone?
by 
thelastglance
ANSWERS: 3
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generally the credit card sells your account to a private bill collector for ten percent of the loss. the bill collector will just harrass you and leave you alone when you give him something. now that we have email and cell phones. it is getting pretty difficult to find people. social security numbers are the last number to track. you could file bankrupcy, but you would still be responsible for the debt.
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Yes it happens, may not often, for sure not every time. Credit card bill is a promise by you to to pay, much like a house, a car loan or writting a check. I would suggest you make every effort to pay in full, because it is the right thing to do and even if not prosecuted it will be with you for years. Also many get in the habit of repeating their ppast behavoirs - good and bad.
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If you owe a lot of money, then the creditors may decide to sue you in civil court. The end result of that process may be a deficiency judgment against you for whatever they claim you owe...which is generally the principal plus interest and fees. However, unless you were committing fraud (check kiting, identity theft, etc.) you are in no danger of being prosecuted criminally for simply running up large debts. They don't have enough prisons to lock up everyone with enormous debt.
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