First, you are usually penalized with a late fee. After that more extreme measures will be taken.  Besides harming your credit history, here is a list of consequence you will face if you do not pay your bills.

• Your credit account may be frozen so you can’t make any more purchases on it.
• If you are delinquent on utility bills such as phone, electric, and rent, creditors have the right to discontinue your service or evict you. Unpaid balances along with expensive fees and deposits must be paid in order to reconnect your services.
• Creditors or collection agents may take legal actions against you such as garnishing your wages, which forces your employer to forward a portion of your pay to the creditor before you get your check.
• Creditors may seize, repossess, or foreclose on your property, such as a car, home, and major purchases.
• You may have to declare wage-earner bankruptcy.
• You can go to jail.

If you think these measures sound rare or extreme, the REPO Man will come to take some of your possessions or you can even land in jail! Scary, huh? That should be enough right there to keep you on your toes with your payments.

Stay on track with your budget, get insurance against loss of income, and pay your bills on time and you will stay out of trouble, guaranteed. Falling behind on bill payments is a serious matter that can haunt you for years. The key to avoiding this financial disaster is to avoid being enslaved by debt. When you are debt free, you are truly free to enjoy a more carefree life.