For many individuals in Ohio and elsewhere, the process of struggling through extended periods of monetary troubles is stressful enough on its own. However, while a person may be unable to keep up with financial obligations, this might not stop a debt collector from sending letters and calling multiple times a day. While creditors may have a right to perform certain actions in the pursuit of payment, there is a line that cannot be crossed, and individuals who experience creditor harassment might be uncertain how to protect themselves against it.
The United States did away with debtors' prisons a long time ago. So the short answer to your question is, no, you will not go to prison if you fail to pay your credit card bill.
If you stop making your car payments, your vehicle will eventually get repossessed. This will involve a repossession agent employed by your lender coming to your home, hooking your car up to a tow truck and taking it away.
The causes and reasons for credit card debt troubles are many and varied, but the symptoms are always the same -- not having enough money to pay your credit card in full each month. If you combine this kind of situation with a family emergency that requires a large expenditure of cash, you can see how things can quickly get out of control.
You won't go to jail for not paying your debts on time, but this wasn't true in the not-too-distant past. From the late 17th century to the early 19th century, states and cities in the United States operated debtors' prisons. These were facilities created to house people who failed to pay their debts. In some cases, the debts they owed were very small.
Many individuals in Ohio and elsewhere have experienced the stress of dealing with the burdens of debt. Overwhelming monetary obligations can be challenging enough on their own, and constant collection attempts may do little to ease the situation. Those who face similar circumstances could benefit from knowing what actions a debt collector can take, as well as the actions that may be prohibited.
Getting behind on your car payments usually results in your creditor sending the repossession specialist to your home to collect your vehicle. The first instinct of many vehicle owners facing repossession is to hide their vehicles.
Many individuals in Ohio and elsewhere have experienced the burdens of overwhelming debt. Financial hardships can be intimidating enough on their own, and the constant collection calls and letters may to little to ease the stress of the situation. While some attempts to collect on debts may be within reason, others may cross the line into illegal tactics, potentially leaving an individual the victim of creditor harassment.
Many Ohio residents know what it is like to get behind on their personal bills. The stress created by their financial situations is often bad enough, but when creditors begin calling and demanding payment, it could only get worse. If you find yourself in this situation, you should know your rights under the Fair Debt Collection Practices Act.
Sometimes, small mistakes can turn out to cause significant damage to a consumer's credit. Every time a creditor sells an unpaid debt to another collection agency -- which is quite common -- it may show as a separate debt on the individual's credit report. Consumers in Ohio must know their rights, including what behavior of a debt collector is illegal.