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They can make your life miserable. Credit card debt is not dischargeable in bankruptcy court. It can follow you as long as your individual state laws allow. And then collection companies can follow you forever (they have no recourse but can hound you still). The card companies can get a judgment against you. And on and on... Oh, they will also add on penalties and interest and when you owed $100 it can easily turn into several thousand... And if you try to buy anything, it will be there on your 540 fico score...
Best answer, never owe a credit card company anything. Pay the statement in full.
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