What happens if I don't pay a magazine bill that went into Collection? Will I go!
Question:
What happens if I don't pay a magazine bill that went into Collection? Will I go to jail or court?
I received a notice that the magazine bill went to the collection agency. Therefore, what happens if I ignore their calls and never pay?
Will they take me to court for $19.95 magazine bill or jail?
Answers:
You won't go to jail for it. It's not enough for them to take you to court, either.
All that will happen is that it will go into your credit report. If you don't care what kind of interest rate you get when buying a car or a house, then all those little debts don't mean anything...but they will impact you negatively over time, and you'll end up paying higher interest rates for years. So maybe one is all right, but don't make a habit of it. Even better, why not pay it and keep a clean credit report?
Most debts don't go away after seven years either, like everyone thinks. They get sold to other collection agencies, who put them in again, and so they end up staying on your credit report forever.