I am not planning on doing this, but I’m just a little curious. What would happen if I stopped paying for my credit cards and refused to give them any money?
Your credit score will drop astronomically if you stopped paying your bills. In the future, this could affect your personal loans, your mortgage, your insurances, and lots more. For your own future sake, keep paying your bills.
One thing to be cautious of is that credit card companies can sue you to reclaim any debt you owe. While this is most likely not going to happen for people who only owe small amounts of debt, cardholders with $1,000+ debt may want to take this into consideration. After a credit card company sues you, you may be forced to go to court where you will face legal consequences. This is in addition to a large drop in your credit score, late penalties, and a penalty APR if applicable. So it’s in your best interest to try and make your credit payments on time and avoid putting it off until later.
Missing credit card payments can be very damaging to your financial stability and can have severe consequences in the long run. Missing a payment or two is fixable, but you will be charged for it. If you stop making payments altogether, you can get in serious trouble and end up owing a lot of money.