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If i don't pay credit card debt can they take my car that is paid off?
Wiki User
∙ 12y ago
If Your creditor get a judgment against you they can sell what property you have to pay the debt. So the answer is Yes.
Wiki User
∙ 12y ago
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What happens if unsecured credit card debt is not paid?
It goes on the credit reports as a delinquencyAnswer:If you don't pay your credit card debt then to your creditor may take you to civil court and can get a judgment to hold your property. There are other penalty as well if you dont pay your credit card debt.
When are you in credit card debt?
A person is in credit card debt when they have charges on their credit card and can not pay them. A person can make charges on a credit card and make payments at a later date. When a person charges on their credit card, the charge is now a debt that must be paid.
Roll-Down Your Credit Card Debt!?
Roll-Down Your Credit Card Debt!The Credit Card Roll-down Calculator applies two simple principles to paying off your credit card debt.Payoff your highest interest rate first.When a card balance is paid in full, apply its monthly payment to the card with the next highest interest rate.To see how this can be applied to your credit card debt, enter your credit card balances and an additional Roll-down amount. The calculator will then apply your additional monthly payment to the credit card with the highest rate. When that credit card is paid in full, the card with the next highest rate will be paid down. This continues until you have rolled through all of your credit cards and your debt is paid in full. Click the "View Report" button for a detailed look at the results.
Estate insolvent cannot pay credit card debt affect on heir's credit history or tier score?
It does not. The debt belongs to the deceased. If the estate cannot settle the account, the credit card company is not going to get paid.
What do you do if merchant has filed for bankruptcy after you have paid for a purchase with a credit card?
Nothing. You bought - and received - a product or service. You charged it, which means the merchant was paid by your credit card company. Your debt is now to the credit card company, and you owe it whether the merchant is in business or not.
What happens if unsecured credit card debt is not paid?
It goes on the credit reports as a delinquencyAnswer:If you don't pay your credit card debt then to your creditor may take you to civil court and can get a judgment to hold your property. There are other penalty as well if you dont pay your credit card debt.
When are you in credit card debt?
A person is in credit card debt when they have charges on their credit card and can not pay them. A person can make charges on a credit card and make payments at a later date. When a person charges on their credit card, the charge is now a debt that must be paid.
In English Law What happens to credit card debt after the death of The card holder?
The Debt goes to be paid by his estate, if there is no money to pay the debt it just bad luck for the credit card company.
Roll-Down Your Credit Card Debt!?
Roll-Down Your Credit Card Debt!The Credit Card Roll-down Calculator applies two simple principles to paying off your credit card debt.Payoff your highest interest rate first.When a card balance is paid in full, apply its monthly payment to the card with the next highest interest rate.To see how this can be applied to your credit card debt, enter your credit card balances and an additional Roll-down amount. The calculator will then apply your additional monthly payment to the credit card with the highest rate. When that credit card is paid in full, the card with the next highest rate will be paid down. This continues until you have rolled through all of your credit cards and your debt is paid in full. Click the "View Report" button for a detailed look at the results.
Estate insolvent cannot pay credit card debt affect on heir's credit history or tier score?
It does not. The debt belongs to the deceased. If the estate cannot settle the account, the credit card company is not going to get paid.
What do you do if merchant has filed for bankruptcy after you have paid for a purchase with a credit card?
Nothing. You bought - and received - a product or service. You charged it, which means the merchant was paid by your credit card company. Your debt is now to the credit card company, and you owe it whether the merchant is in business or not.
Is child responsible for parents credit card debt after death?
I think that would be paid out of the estate and not by the child.
Is a surviving spouse and sole beneficiary responsible in Manitoba for the Credit card debt of the deceased?
Unless both spouses signed the credit card agreement, the answer is no. The debt can only be charged against the property of the deceased, but must be fully paid (or paid as much as it can be in the case of an insolvent estate) before anything can be paid to the spouse.
When you transfer a debt from one credit card to another one with a lower interest rate is it best to cancel the old card does it appear as a debt on new credit report even if it is paid off?
If card is paid off, there is no longer a debt existing on that account. The debt is a 0 balance. Keep the account open anyway , even though you do not use it! This helps your credit score stay up. If you close an account that you no longer use, your credit score drops a bit & loses some points. So no, do not close an account even when it is paid off. It reflects good on your credit report. If you have to, cut the card in half, to keep yourself from shopping with that card.
If a third party purchased your credit card debt and sends a letter asking if you are the debtor should you answer yes and then proceed the discussion with the third party or keep unanswered?
If you are planning on paying the debt then let them know it is you and negotiate to have it removed from your credit report once its paid. If you dont plan on paying the debt then it will stay on your credit report for seven years regardless of whether you answer that letter.
What will happen if you dont paid your credit card bills?
Your credit card company will report you to one of the three credit agencies, Experian credit bureau, Equifax credit bureau, and TransUnion credit bureau.
How to Pay Off Credit Card Debt?
If you're looking for a way to pay off your credit card debt, there are two steps. First, pay at least a few dollars extra on your smallest balance. This will cut down your interest and more of the payment will go to reducing the balance. The second step is taking the full payment once that credit card is paid off and applying it to the next lowest card balance. This will increase the amount that is paid each month on the balance and get it paid off sooner. Continue to do this until all of your debt is paid.
