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Are you still liable for a debt after a credit card company charges off your account?
Wiki User
∙ 8y ago
Yes, a charge off does not mean a debt is invalid nor uncollectible. The term is used by creditors to indicate a debt that they believe is not collectible under normal procedures and they are clearing the debt from their books for taxation and operational purposes. The OC will then refer (or sell) the debt to a collection agency or collection attorney for further action.
Wiki User
∙ 8y ago
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Are you responsible for fraudulent credit card charges?
As a general rule, . The federal government mandates that you can be held liable for only $50 of unauthorized charges, and many credit card companies even waive that. This is if the credit cards were stolen. What may be the sticky point
If you obtained a credit card over the phone by claiming you were an adult when in fact you were a minor what will happen if you tell the company you are not liable for the charges and will not pay?
in most states the gardian of that minor is then responsible for any and all debts accrude
What if the signature on a joint credit card account was forged?
If you can show it was forged and you did not use the account then you are probably not liable. You should discuss this with a local attorney.
Do you have to pay your company credit card debt if it is out of business?
It depends on the credit card application and the structure of the company. Most credit cards issued to a small business are guaranteed by the owner. In that case, you must pay. If the card was issued soley to the company, the credit card company could sue your corporation to recover any assets available. If the company was a sole proprietorship or a partnership, you are liable.
Is it legal for and employer to deduct from your pay for unreimbursed business expenses incurred using a company credit card?
Yes - if you used the company credit card, you are liable to repay the amount you spent ! The employer can recover that directly from your wages.
Is an additional credit card holder liable for the whole debt on the credit card account?
ia an additional credit card holder liable for the whole debt of the credit card account
I don't know who using my credit card and withdrawing money out of my account i did a investigation of my account for a while i know i use the card on the computer to buy stuff so the investigation we?
First thing you should be doing asap is to call the CC company and cancel that credit card. You may be liable for all current charges before making that contact call. Do it now to protect your credit rating and history.
Are you liable for credit card debt if the credit card company has your Social Security number wrong?
If you held the account in name either solely or jointly and used the credit available you are still responsible for the debt, the error of the SSN is irrelevant.
I filed bankruptcy for my credit cards my wife has her own credit cards in her name am I obligated to pay her credit cards also when we get a divorce?
If your name is not on the account, and the account is not considered a "joint account" by the credit card company, then you should not be held liable for any debt on your wife's credit cards.
If you owned a small percentage of a company that closed and the primary owner used personal credit cards to finance it and now claimed bankruptcy can they charge you for the cc debt?
This would depend upon the terms of the contract which established the debt. If your former partner was the sole personal guarantor of the debt, it doesn't matter who else owned the company. If you co-signed or were joint on the account, then you have shared liability, regardless of the outcome of the business venture. If you did happen to be jointly liable for this debt; his bankruptcy discharged all of his liability. You would now be 100% liable for the balance. Conversely, if you were an authorized user on this account, you do not meet the definition of "debtor" under the Fair Credit Reporting Act. Although it is typical, it is not proper (or legal), for this to show on your credit report. Authorized user have NO liability for such accounts, even if they personally made the charges. Only account holders in a contractual agreement are legally liable for the debt.
Does the interest and finance charge stop each month after a credit card charge off?
No - I am a collector and service primarily unsecured credit card debt. Per the cardholder agreement that was signed with the credit card company, the account holder is often liable for a LARGER interest rate after an account goes into collections. This may not always be the case, but I rarely see credit card collections that have interest rates lower than 18%. Finance charges are not often applicable when the tradeline has been closed and charged off into collections.
Are you responsible for fraudulent credit card charges?
As a general rule, . The federal government mandates that you can be held liable for only $50 of unauthorized charges, and many credit card companies even waive that. This is if the credit cards were stolen. What may be the sticky point
If you obtained a credit card over the phone by claiming you were an adult when in fact you were a minor what will happen if you tell the company you are not liable for the charges and will not pay?
in most states the gardian of that minor is then responsible for any and all debts accrude
Are you liable for the amount you signed for or the full balance on a credit card if you are an authorized user only?
If you're only an authorized user on a credit card, you don't directly owe anything as far as the credit company is concerned. However, you can still be sued by the individual who has the card account.
If you lose your card are you liable for any charges made by an unauthorized person?
No, you are usually not liable for any charges that an unauthorized person makes on the card. You need to let the company know promptly that your card has been lost, though.
What happens if one of your credit cards is sold or transferred to another credit card company?
you are still liable to pay what you owe
What if the signature on a joint credit card account was forged?
If you can show it was forged and you did not use the account then you are probably not liable. You should discuss this with a local attorney.
