The most common risk is bad credit. That happens because of your failure to pay on time, even some of you may also fail to pay the debt. Poor credit will make it difficult for you to apply for a loan or even rent an apartment to live. Ease of access also makes it difficult for you to get an apartment because today's landlords can also review your credit score. To fix this you might need to visit the bank that gives you a credit card and restructure many things in your account. It is not a one-day job, it takes time.