Legal Question in Consumer Law in California

Re: financial issue

They can file lawsuits against you and, if you don't answer the lawsuits and they take your default and obtain a judgment, they could attach your wages and bank accounts. You might consider other alternatives, including credit counseling and bankruptcy.

Re: financial issue

You will have more spending money. That's the bright side. Besides that, bad things will start to happen to you, like your house being foreclosed, your car repossessed, your wages attached, your bank accounts emptied out, etc. But what if you don't have a job, a house, a bank account, or a car your are making payments on? Pretty much nothing will happen other than the fact you will have more money and will not be able to get credit.