While credit card debt is unsecured debt and you can be sure that no one will knock on your door to foreclose on or repossess your property, there are still consequences of ignoring your debt.  A negative impact on your credit report is the most obvious, but there are other problems that could arise if you do not find a way to deal with your debt and communicate with your creditors.  Negative information on your credit report could result in a rise in your interest rates on all your credit cards, make it difficult for you to get a new job or promotion, cause your insurance rates to increase, or result in your wages being garnished depending on your state.

If you are having difficulty paying your credit card payments, it is always better to communicate openly with your creditors rather than avoid them.  By avoiding communication, you will expose yourself to endless phone calls, stacks of certified letters, and damaging information on your credit report, which could affect many aspects of your life.  Your credit report is the foundation of your financial stability.  Make sure you keep open lines of communication with your creditors.  You will save yourself time and a lot of hassles by making an effort instead of simply ignoring your outstanding debts.