Posted by: chatarpatar October 21, 2020
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hello,
due to pandemic i lost my job and i wasnt able to pay my credit card bills on time. now i got a letter from them saying it will be sent to collection. if it goes to collection, what happens other than a drop in my credit score? will i be arrested? will collection agency bother me all the time? i heard it will stay in credit report for 7 yrs only? any information will be helpful.
thank you!
due to pandemic i lost my job and i wasnt able to pay my credit card bills on time. now i got a letter from them saying it will be sent to collection. if it goes to collection, what happens other than a drop in my credit score? will i be arrested? will collection agency bother me all the time? i heard it will stay in credit report for 7 yrs only? any information will be helpful.
thank you!