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You’re about to learn how to get out of credit card debt without paying the full amount. In summary, you have three credit card debt relief programs and options to assist you.

  1. Debt settlement programs allow you to stop paying credit cards. Your accounts will eventually get written off and sold to third-party collection agencies. Debt negotiation programs can then resolve each debt for less than the full balance. Unfortunately, there are several downsides to debt settlement programs. A major downside to debt settlement is that credit reports are left in bad shape, with late and collection marks. Make sure to stick with the plan if you decide to join a debt settlement program because canceling before the end could leave you in worse financial shape. Choose a BBB highly rated debt settlement company to maximize your chance of success with the program.
  2. Debt validation programs allow you to stop paying credit cards. However, instead of settling debt, validation disputes it. In the end, consumers can get out of credit card debt without paying, besides for “the company’s fees.” Late marks and collection accounts can also get removed from credit reports.
  3. Chapter 7 bankruptcy makes it possible for a person to get out of credit card debt without paying any of it back. However, consumers will pay the price of bankruptcy in two ways; 1.) seven-ten years of negative credit and 2.) up-front bankruptcy attorney fees.

For more options, check out the 10 Best Ways to Clear Credit Card Debt – After COVID-19.

Consider the debt snowball method if you can afford to pay at least minimum payments on credit cards. You can even use Golden Financial’s Free Snowball Calculator Tool to assist you with this option.

You can also speak with a debt counselor at Golden Financial Services (GFS) for a free consultation at (866) 376-9846. Enroll in a debt relief program to help you deal with high credit card bills. GFS is an A+ Better Business Bureau-rated company, a TX licensed debt management company and in business since 2004.

What happens if you don’t pay your credit card debt?

Over 1-6 months after you stop making payments: 

The original creditors will call and send letters over the next three to six months after you stop paying on your credit card payments. Every month late fees and interest will continue to accrue, so your balances will continue to grow. Within approximately six months, the original creditor (i.e., the credit card company) will write off the debt.

Can you be sued over credit card debt?

After you stop paying your credit cards, there’s a chance that creditors will issue a credit card summons. If this happens, don’t skip court. Show up to court and explain your hardship to the judge. Credit card lawsuits can get dismissed. They are often filled with errors and incomplete records. If you receive a credit card summons while enrolled in a debt relief program, lawsuit defense is included.

You could get a default judgment against you if you skip court. A judgment could result in a lien on your property. Therefore, never skip court. Just show up.

Will credit card companies forgive debt?

Credit card companies may forgive a portion of a credit card debt, but in most cases, they are paid back two to three times what is owed. Yes, that’s right, two to three times what is owed! And that’s even after you walk away from the credit card debt without paying.

How is that possible?

Here’s how.

First off, creditors write off a debt to show a loss and get reimbursed on the debt through tax credits.

Secondly, creditors have banking insurance. Creditors can get reimbursed a second time through insurance. Similar to if you wreck a car and your insurance pays you a check for the price of the car, banks have insurance and can get reimbursed for unpaid debt.

Thirdly, creditors will sell delinquent credit card accounts to a third-party collection agency, bringing in more profit. Collection agencies may only pay ten cents on the dollar for a credit card debt. Consequently, collection agencies will settle that same debt for 40%-70% in some cases, not counting debt settlement program fees.

By the time an account ends up in third-party collection status, it’s no longer the original creditor coming after you. They have been paid back and will have wiped their hands clean of the debt.

At this point, a third-party debt collection agency will start sending you letters and calling. The collection agency may send you letters willing to settle for a fraction of the total owed, as explained above but think twice before settling a debt. Even after you settle an account, the late marks and collection accounts remain on credit reports for up to seven years. Start with validation, you may be able to get out of credit card debt without paying, aside from the program’s cost.

How to get out of credit card debt without paying?

If you can’t afford to pay your credit cards, your most strategic option would be to enroll in a debt validation program before you receive a summons. The sooner you enroll, the better! The validation program will dispute all of your debts after they are sold to third-party collection agencies. Meanwhile, you’re only making one affordable monthly program payment.

How to get out of credit card debt without paying?
Debt validation programs can help you get out of credit card debt without paying after accounts are sent to third-party collection status.

Most of the time, these third-party collection agencies can’t prove the debt is valid. The result – the debt becomes legally uncollectible and does not have to get paid. Clients only end up paying the cost of the program, which you can receive a quote on by visiting our debt calculator page here.

For a Free Consultation, Speak to an Experienced Counselor Toll-Free (866) 376-9846.

As a last resort, debt settlement programs can allow a person to pay back approximately 70% of their debt, including settlement fees. The bad news about debt settlement is that even after your bills are settled and satisfied, the late marks and collection accounts remain on credit reports for up to seven years. You could also owe taxes on the amount saved.

For more information about debt validation services, visit this page next.

Both debt validation and settlement programs have downsides, which you can read about at





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