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Experienced lawyers, driven to succeed on your behalf.


Experienced lawyers, driven to succeed on your behalf.

Many Harrisburg area residents have run into financial trouble. Whether it be from losing a job, unexpected medical expenses, excessive student loans, or any other situation, financial issues can be troublesome. A person may no longer be able to pay some of their bills, including their credit card bills and if that is the case, they may wonder what will happen.

The first month

When a person misses a credit card payment, they will receive a late fine. They may also have it show up on their credit report as a missed payment.

2 to 3 months

When a person has missed more than one month of payments the credit card company will block the person from making any more charges. Late fees will continue to accrue for missed payments. A person’s account will also be reported to the credit bureaus and it can remain on a person’s account for 7 years. An interest rate increase of up to 29.99 percent may also occur.

Over 4 months

By this time a person’s credit card bill will be charged off by the credit card company. This means that the amount owed will be sent to a collection company and a person will have to deal with a bill collector, who will be relentlessly calling. A person’s credit score can be ruined and it can make it impossible for them to get more credit, purchase a house, or applying for rentals. The IRS will also require a person to pay taxes on the charged off debt.

Contact an attorney

A person who is facing significant debt may want to contact an attorney who specializes in bankruptcy. They can help their client understand their legal options and help them get a fresh financial start.