What happens when you walk away from a third party creditor and not pay them? I ask because I do not trust a creditor that keeps calling me. They are charging me interest on the debt that I owed for a credit card. I want to send a cease and desist letter to stop all communication. I tried to do right by setting up monthly payments, but I do not trust that it was helping at all.
It’s never a good idea to walk away from a debt owed as this can hurt your credit rating and get you into legal trouble. Check out the article, “Know your rights: Fair Debt Collection Practices Act” from CreditCards.com. It has information on what they are allowed to do and steps you can take.