Many people don't realize this, but you if you are honestly trying to pay back your creditors you can make a very small payment providing you can prove you have no other way of feeding and housing yourself. If you have a brand new car and are still spending then you have simply sunk yourself and the full amount being paid back will be required.
Credit Card Companies will really work with you to pay of your debt if you make an effort and contact them. You can also have them lower the interest rate on your credit card debt (Visa is approx. 19 1/2% here in Canada.) Credit Card Companies and most other companies don't want to have to go to court for their money unless its into the tens of thousands because the court costs are higher.
When in doubt, and you can't meet your payments phone the Credit Card Company and work with them. They will usually give you every break you can.
When a credit card company sues you and you don't appear in court, the court does not put out an arrest warrant for you. If you don't show up, the judge simply rules in favor of the credit card company and what's granted is a default judgment against you.
What the judgment does is put a lien on any realestate property that you own. So, if you own a house and wanted to sell it or refinance it, then the judgment would have to be settled before you could do that. The term length of the judgment varies according to the state where you live. In some states, judgments can last 20 years or more. Also, some states allow judgments to be renewed.
In most countries, being in debt (or rather being unable to repay debt) is not a crime, you cannot be arrested or imprisoned for it.
The diffference between a debt card and a credit card is ,in a debt card it's money from your account .In a credit card is when you borrow money from the bank.
I am so in debt and I am worried about paying my credit cards. Where can I get advice on credit card debt solutions?
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.
ia an additional credit card holder liable for the whole debt of the credit card account
no
No, there are no debtor prisons in the United States. Being in debt is not a crime. If all the consumers who had credit card debt were arrested, there would be nothing but prisons in America. The average American has approximately $8000 of credit card debt. This does not include those of us with defaulted or derogatory accounts.
In most countries, being in debt (or rather being unable to repay debt) is not a crime, you cannot be arrested or imprisoned for it.
The diffference between a debt card and a credit card is ,in a debt card it's money from your account .In a credit card is when you borrow money from the bank.
I am so in debt and I am worried about paying my credit cards. Where can I get advice on credit card debt solutions?
There were no credit cards in 1900, hence no 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.
ia an additional credit card holder liable for the whole debt of the credit card account
You are because you incurred the debt.
800 Credit Card Debt helps you consolidate all of your credit card debt into one monthly payment. They do this by contacting your credit card debt companies and negotiating a payment for you.
Only if you OWN the credit card company. Credit card debt is a silent killer. Make the choice to carry ZERO credit card debt.
No. The card holder is responsible for all debt on the credit they extended to him. (You may be responsible to the credit card holder for the debt he incurred for you, if that was your agreement).