What are the consequences of not paying my credit card bill on time?

The consequences of not paying your credit card bill on time in North Dakota can be serious. The most immediate consequence is that you will incur late or penalty fees. The amount will vary by credit card issuer, but the fees can be as much as $29 or more. Your credit card issuer may also increase your interest rate for any future purchases or balance transfers if you are late with your payments. If you continue to be late with payments, your credit card issuer may report this delinquency to the major credit reporting agencies. This will negatively affect your credit score, making it harder for you to get a loan or open a new credit card. If your credit card debt is not paid in full and you make no payment arrangements, the credit card issuer may take legal action. Your wages could be garnished, or your assets could be placed in a collection program. In extreme cases, the credit card issuer can take you to court and sue you for nonpayment. The court could order wage garnishments or freeze your bank accounts. The court may also order you to pay fines or fees in addition to the balance owed.

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What are the consequences of not paying my credit card bill on time?

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