Many of us apply for credit card offers in order to get financial stability. But unfortunately, millions of credit card users have credit card debt. Almost every credit card user knows that credit card debt can lead to bad credit history, low credit score and even bankruptcy. But not everyone is aware of the fact that you can go to jail because of inability to pay your creditors back.

If your credit card company wants to sue you because of your credit card debt, you always have several ways out!

I should point out that major credit card companies like Visa, American Express or Discover usually try to avoid suing their customers because of their credit card debt. They are trying to find a way to make their customers pay without going to court. Today credit card companies can help you to schedule your payments and give you a valuable piece of advice on how to pay back faster.

In case you have a co-signer on your account, the creditor will be calling him or her in order to collect rather that file a law suit.

But if you are under 40 and have big credit card debt, you will be more likely to be sued than an older person. The creditor can assume that since you are young, you will be able to find a job and to make all the payments!

So if you think that your credit card company can sue you, you have at least three alternatives: you can declare bankruptcy, turn to a counseling service or reduce your credit card debt by cutting back on your expenses.

• If your credit card debt is really huge and there is no way for you to pay it back, bankruptcy may be the only way out for you. Bankruptcy can buy you some time to pay off your credit card debt and may fend off a creditor who is threatening to sue you over credit card debt. You have to remember that bankruptcy will have a horrible impact on your financial future! So before making this decision you should really twice and consult a knowledgeable person. Remember that bankruptcy is not the only option!

My friend Lilly had to declare bankruptcy because of horrible financial condition 6 years ago. She said it was humiliating for her! Not only did she spoil her credit history, but it seemed that the whole community was discussing her financial difficulties. Lilly had to move from her native town. Only after 6 years she is back to her normal life!

• You can also turn to a credit counseling service. You will make one monthly payment to the counselor and a counseling service will pay your creditors for you for the agreements they made. If you make your payments though a counseling service, you credit rating will be damaged too, but will not last as long as in case of filling for bankruptcy.

• The best thing you can do in order to pay off your credit card debt is to cut your expenses. Look at your monthly spendings and think what you can cut back on! If you are making big payments for your car, think if you can do without it for a year or so. If you can give up your vehicle for some time, your creditors will more likely work on you than sue you!

If you are in bad financial condition, remember that credit card companies and banks are not your enemies and credit card deals were not created to break you! Everything is in your own hands: if you don't want to go to jail because of irresponsible card usage, do your best to use your plastics correctly!

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