by 
The Curious Bag
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During rough economic times, many people begin charging expenses to credit cards. When these charges accumulate to sizes that can no longer be managed, and payments are missed or stopped, a number of different consequences can result.
Credit Score
The most obvious negative effect of not paying your credit card bills is that the credit card companies are likely to report this failure to pay to one of the three major credit bureaus. This will lower you credit score.
Collections
Credit card companies are incredibly persistent in their attempts to receive payments on their debts. This is likely to include daily phone calls and numerous pieces of often-threatening mail.
Liens
A lien can be placed on any pieces of property that you own which means that any money that you make from the sale of this property must be given to the credit card company in an attempt to pay off your debt.
Collection Agency
Most credit companies will sell your debt to a collection agency once they feel that they are unlikely to receive the money owed on the credit card balance.
Court
If you owe a large amount of money, in the thousands of dollars, a credit card company can file a lawsuit against you in court in an attempt to obtain the money owed on the credit card.
Source:
Resource:
Care One Credit
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