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Answered 2006-12-29 22:22:49

Yes. It is a misconception that credit card issuers do not have legal recourse for recovering money owed simply because the debt is considered "unsecured". Unsecured debt only signifies that there is no specific property attached to the debt itself. The debtor can be sued for the amount owe plus legal costs and other fees. If the plaintiff/creditor wins the suit (they always do) a judgment is enterered against the debtor/defendant. A judgment can be executed in accordance with the laws of the debtor's state, the preferred method of enforcing a creditor judgment is by wage garnishment or bank account levy. Other options are the seizure and sale of non exempt property belonging to the debtor and liens against real property belonging to the debtor.

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What is minimum FICO needed to get unsecured credit card?

Many credit card companies are hesitant to issue unsecured credit cards to those with a credit score of 650 or less. Some companies are more stringent than others.

Do credit card companies usually put a lien on your house for unpaid debt?

no credit card debt is unsecured they do not normally go after you home but it depends on which state you live in, they can file a lawsuit to collect the debt, which can turn into wage garnishment.

What is a unsecured credit card?

A secured credit card requires a security deposit. An unsecured credit card is the traditional credit which does not require a security deposit.

What happens when you are in a nursing home and can longer pay your credit cards?

You will default on your credit card accounts. Being an unsecured loan, there is little a credit card company can do. That is a risk credit card companies take. Regardless of why you can't pay, non-payment will result in default. The extent to which a credit card company will attempt to collect depends on whether or not they feel you have sufficient income.

Can credit card companies put liens on houses in pennsylvania?

Credit cards are unsecured debt. If use your home to back up the Credit line. Yes they can.

Can you get an unsecured credit card with bad credit?

yes u can

What if you leave credit card debt in US?

I owe credit cards companies in the US. Can they collect it in The Netherlands?

Can credit card companies put a lien on a house in Colorado for unpaid debts?

Credit card companies will not generally be able to put a lien on your house for unsecured debts. There may be some exceptions to this, but this situation would be rare.

How long should I hold a secured bank credit card before I try to get an unsecured one?

Your ability to obtain an unsecured credit card will depend on your credit score. As your credit score rises you will become eligible. Try checking it after a year of making on time payments on your unsecured card.

Where can one find information about unsecured credit cards?

There is plenty of information available on unsecured credit cards, some companies that offer this service are: "Capital One", "Cardhub", "Horizon Card", "Matrix Discover card", "Imagine Gold Master Card", to mention a few. These card providers often charge customers with bad credit a small deposit before issuing a card.

What credit card can you get without you having credit?

Typical credit cards are unsecured credit cards. If you have no credit history, you cannot get an unsecured card. Instead, you must apply for a secured credit card. It works kind of like a savings account. Say you give them $300 then they give you a credit card with a $300 limit.

What happens when a credit card debt goes to litigation?

A credit card debt will be granted a judgment possibly and then the company can pursue you to collect the debt. A garnishment could even be awarded, although this is rare on unsecured debt.

On Choosing An Unsecured Credit Card?

The unsecured credit card is the default when people think of credit cards; it is the credit card that allows the user to purchase goods and services based on only the promise of said user to repay the cost of said goods and services. The unsecured credit card, once generally considered a necessary tool of adult life in developed nations, has recently come under scrutiny in light of the recent recession and economic market meltdown. Many of the major credit card companies which issued unsecured credit cards were brought to task by governmental agencies for charging their users exorbitant fees, and undertaking various methods to hide their true cost from consumers. Some of the changes made involved putting limitations on the ways that credit card companies advertised their unsecured credit cards, the fees that such a card could charge, and new limits on who could receive and use an unsecured line of credit. Even in the wake of these recent reforms, credit card companies continue business as usual, from sending out unsolicited cards in the mail to forcing some credit card holders into bankruptcy to pay back overdue debts. The government is urging those who are considering a line of credit from an unsecured credit card to consider the following points: 1. An unsecured credit card is not needed in order to build credit. Credit may be built from secured credit cards, the prepaid credit card, paying rent, and even from holding down a job for a number of years. 2. A secured credit card offers the same spending power as an unsecured credit card with the limitation that the borrower can not go past a certain limit nor will his assets be responsible for covering a debt past the assets that are being used to cover the monies spent. It is considered a much safer way to borrow money, especially for those just beginning to use credit. 3. When deciding to use an unsecured credit card, make sure to check your credit reports monthly and monitor them for any activity which is not yours. 4. Safe limits for spending on an unsecured credit card are generally accepted as 30% of the total credit issued. Users of unsecured credit cards are also advised not to spend more money than is possible to repay within a given cycle, and to pay back all unsecured credit funds in full at the end of each cycle (usually monthly). 5. An unsecured credit card should never be given to a minor, especially from an unsolicited promotion. If you wish to be removed from solicitation lists, simply call the credit card company which issued the unsolicited material. They are under legislative order to cease and desist unsolicited communication upon the first complaint.

Where online can one apply for an unsecured credit card for people with bad credit?

One can apply for an unsecured credit card for people with bad credit from the following sources: Capital One, Barclaycard rewards mastercard, Orchard bank credit card, to name a few.

Which companies offer unsecured credit cards for people with a bad credit rating?

Many different banks offer unsecured credit cards for people with bad credit. An example would be the Capital One Classic Platinum card, which can be ordered by people with a credit score as low as 577. Another option is to apply for a secured credit card, which can later be converted to an unsecured credit card.

What are the differences between a secured and unsecured credit card?

I have never heard of credit card that is unsecured. So you better off check with the proper legal bank's credit card then apply for one, don't put yourself into the scam.

Can credit card companies collect on unsecured debt if the debtor is deceased?

They have the right to make a claim against the estate. Like other debtors, the executor has to settle their claims. If there are not enough assets, some of the debtors will not receive all of their money.

Can credit card companies sue you after or during bankruptcy?

Not likely. They can come to collect if you have a balance but sue you why?

Is your husband responsible for your credit card debt in ill if it is at a collection agency?

If his name is not on the card,(He did not sign for the card) Then NO! And credit cards are unsecured loans.

What is the Illinois Statutes of Limitation for the credit cards debt and the tolling?

They have to collect your credit card debt within 6 years for most accounts. Most credit card companies will try to collect a debt over a certain amount, like a thousand dollars.

How do I get an unsecured credit card?

Even if you have bad credit, you can still often find an easy credit card to qualify for. Depending on whether you have a poor credit history, or just no credit.

Can banks hold car note for unsecured credit card?


Is credit card debt a crime?

No, credit card debt is a unsecured debt. Unsecured debt refers to any type of debt or general obligation that is not collateralized.Hope this helps,My Plastic

Get A Credit Card Without Credit?

You still can own a credit card without credit or a poor credit score. Many companies will offer you a prepaid credit card. Simply make a deposit to the credit card company and begin charging on your new credit card up to the amount of your downpayment. Pay your balance like you normally would as with any regular credit card. In most cases, the credit card company will refund your downpayment after you have been in good standing for a certain period of time. You will continue to charge on your card, but it is now an unsecured line of credit.

Is it legal for credit card companies to threaten to call relatives in an attempt to collect on a past due balance?

Credit card companies may call relatives that were given as a reference on the car loan. It is not illegal to call them, it is illegal to harass them.

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