If you fail to pay your unsecured debt, debt such Visa, MasterCard, American Express and other major retail card cards, your lenders will attempt to collect on their debts. If they fail to collect on their debts, they will hire collection companies to collect on their debts. Collection companies use less than pleasant tactics to collect on the debts. If they fail to collect on the debt you owe, they may go back to your lenders and ask to sue you. Unlike secured debt, they cannot seize your assets to pay the outstanding debt. Upon successfully suing you and get a garnishment order against, they will attempt to garnish your wage or bank account. If you have home equity they will file a writ on your personal name. The Writ will prohibit you buy a house or sell a house before you satisfy the Writ.