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Yes.
"Sue" just means "ask". When you are sued for damages it just means that the credit card company is formally asking the courts to require you to pay the debt that you incurred.
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∙ 14y ago
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How bad is my credit due to unpaid credit cards?
You credit score will decrease significantly if you do not pay your minimum credit card payment every month. Unpaid cards will be reported as delinquent and really destroy your score.
Can you be sued in court for non payment of credit cards in New York?
Yes. Even though credit cards are considered unsecured transactions, the account holder can be sued by the original creditor or a third party collector for the debt.
Upon cancellation delinquent travel charge cards may be reported to credit bureaus or similar entities and can affect your credit rating?
True
What happens if you are sued for unpaid credit cards?
You could possibly go to jail and or prison. Sorry IF this question is an actuality for you. :(
Who can report delinquent accounts to credit reporting agencies?
Any creditor you owe money to can report your delinquent accounts. Generally utility companies and cell phone providers will only report if you have an unpaid balance. Credit cards, mortgages and installment loans are 99.99% of the time reported.
Can they take your house in North Carolina for not paying credit cards?
If your sued and your creditors receive a judgment they can put a lien on your property.
Can you be sued for non payment of credit cards in Illinois?
Yes. Every time you sign for a purchase, you are agreeing to the terms and conditions of use of the credit card which includes repayment. If you don't repay the debt, you will be sued for not only the credit card charges but for interest and probably legal fees, too.
What is delinquent credit history?
A delinquent credit history refers to instances where a borrower has failed to make timely payments on their debts. This can negatively impact their credit score and make it harder for them to obtain credit in the future. Delinquent accounts can stay on a credit report for up to seven years.
How can banks offer interest free credit cards?
Banks can offer interest free credit cards because the Federal Reserve Bank has kept interest rates so low. However, many of these credit cards still have annual fees, late payment fees, and higher rates if you become delinquent and others. Some of these are also only for limited periods.
Does Tennessee allow garnishments for credit cards?
Garnishments can only be issued on debts which have been taken to court and a judgment has been issued. A person can be sued and taken to court for a credit card debt.
How do you read and understand your credit report and it's scores?
You can look at all your credit cards and reports and see who is reporting you delinquent. You can also see your overall credit score and compare it against a chart of good and bad scores. The information on your report is fairly straightforward.
Do credit card companies by law have the right to periodically do a credit report on you?
You bet your credit report they do. That is their right ... Banks and Credit Unions will also do this periodically if they so feel inclined. If one is paying all their bills on time and have no delinquent accounts or have their credit cards maxed out, then they should have nothing to fear from a credit report query.
