Can you get a credit card if unemployed?
Yes. Employment is a factor in the ability to pay. When you are scored your employment status is a factor but doesn't prohibit you getting a card. Plently of people what are independently wealthy (e.g. their income is the results of investment rather then employment) get credit cards all the time. The key is the ability to pay and the risk of non-payment. If you are broke and have no job and no income you will likely be declined.
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What should you do if you have 70K in credit card debt and a house that is not paid off and your spouse is unemployed?
It would appear that the person's options are limited. Refinancing the home if one could get a lower payment and interest and perhaps cash out could be considered but that cou…ld prove difficult given the circumstances. There are debt consolidation and other such agencies, but one must be extremely cautious when dealing with them. The interested party might also consider consulting with a qualified bankruptcy attorney. The ABA and all state bar associations offer free attorney referral services. American Bar Association, see the Related Link below.
Answer . The credit card company will report the incident to the credit bureaus and you cost of credit will go up. You will be referred to a collections agency if the amount …is large enough. This is a very bad path to start down. . You may be able to negotiate with the credit card company for a settlement if you can come up with the cash before they start the collections process so you can buy your debt at 1/2 price or so. . Original creditors do not negotiate debt settlements, that is always done by the third party collector that purchases the debt or by authorization the original creditor to the contracted collection agency to do so. . The reality is creditors do not care what the debtor's personal circumstances might be, they simply want their money. . Be that as it may, you can contact the customer service department to learn if the creditor has options available for such situations. Bt choose carefully.... If you do tell your credit card company you have lost your income they will likely reduce your available credit to next to nothing, which harms your credit score. . Some creditors will allow the debtor to make "interest only" payments or freeze interest rates and waive penalties for a specified period of time (usually 6 months) and so forth, to prevent the account from being defaulted. . The debtor might wish to inform themselves about the laws of their state relating to debt collection and personal and real property protection in case of a lawsuit. *THEY WILL SUE YOU!!!!!!!!!! There are no options. They do not care if you are unemployed, if there are no jobs in or area and even a single mom to boot. These Banks that CAUSED our economic failure WILL take you to court and win. The judge then decides whether to put a lien on your house or garnish your wages leaving you unable to EVER have a decent life again. The unemployed in our country don't have a prayer. I wish people would stop sugar coating things.
they are not free you need to talk yo your agent or order at your bank.
My wife has about 50000 dollars of credit card debt She is unemployed at the moment Can she file bankruptcy alone or do we have to file jointly I have not co-signed for any of her credit cards.?
Though a spouse can operate individually, there are limits to the distance one party can place between themselves and the other in a marriage, and also in the financial struct…ure associated with the relationship. Should things become dicey, it won't be enough that you didn't co-sign for the cards. Her credit assessment was probably (meaning certainly) based on your joint assets. That means when they look to collect from her, they don't even have to turn their heads to see you. They already do. They'll look at her assets, which include, like maybe, a house. You get my drift. It is improbable that a spouse can file bankruptcy separately, but there are differences in the bankruptcy laws from one state to another, even though the basics are common. Many attorneys and para-legals provide free or low-cost counsel in cases like this (especially upon an initial visit), and it is a really good idea to call on one for specific advice. Offering advice is a common activity in the business of law, and there are a lot of practitioners. Do not construe any of what you are reading as legal advice. Look at it as a place to begin an understanding of a problem so that one can embark on the search for a good and workable solution to that problem. Lastly, if I cut myself, I wash the cut and put on a band-aid. If I break my leg I go to the doctor (or emergency room physician) for treatment. The more consequential the legal issue, the more one should seek out a professional. Good luck.
What happens if you are unemployed and you return to work with a default judgment for credit card debt unresolved?
The creditor can haul you into court to garnish or attach your wages to satisfy the judgment, unless you earn too little under your state law to garnish. ans Generally s…peaking, your assets, (current and future), as well as your income (current and future) can and will be subject to seizure (termed garnishment when wages) to satisfy the debt they got a judgment for. Obviously, they can (and as it is their business, very good at) using all legal methods to enforce the right, or compel you to pay...(of which there are many). You will be entirely responsible for any costs they incur to enforce and collect the full amount of the debt, interest, penalties, legal fees, etc. too. So a small debt for something you bought can grow very large, very quickly. Of course, they may just sell the right to collect to a third party, but the result is the same. And while you may feel you simply don't have anything to take (or even a wage they can garnish)...a judgment stays in force for 20 years (and can easily be renewed)...so you better want to be poor, have nothing and be worth nothing for a very long time! It isn't unheard of for some collection agency to find you have an outstanding judgment from years ago...now that they see you have something...(a car, a house, a lottery winning...anything) and get their fee by collecting it with all the back interest. Your best served by paying, and if you really can't, contact them to work out a plan to do so you can live with. Well, judgments may be valid for 10 or 20 years. I've never heard of a state that allows a 20-year judgment to be renewed, but I suppose it's possible. 10 year judgments are renewable for an additional 10 years, as a rule. I find it peculiar that the "improved" answer - which went far beyond what was asked - failed to mention filing bankruptcy, which will eliminate all those added fees, interest and charges after filing, treat all creditors in the same class equally, and takes the choice of settling away from the creditor.
What can't they do to you if you are unemployed with credit cards and no payments on a loan in four months?
\nYour rights as a consumer\n. \nYour Debts and Debt Collectors\n. \nYou are responsible for your debts. If you fall behind in paying your creditors, or if an error is made …on your account, you may be contacted by a debt collector. A debt collector is any person, other than the creditor, who regularly collects debts owed to others, including lawyers who collect debts on a regular basis. You have the right to be treated fairly by debt collectors.\n. \nThe Fair Debt Collection Practices Act (FDCPA) applies to personal, family, and household debts. This includes money you owe for the purchase of a car, for medical care, or for charge accounts. The FDCPA prohibits debt collectors from engaging in unfair, deceptive, or abusive practices while collecting these debts. Under the Fair Debt Collection Practices Act:\n. \n* Debt collectors may contact you only between 8 a.m. and 9 p.m.\n* Debt collectors may not contact you at work if they know your employer disapproves.\n* Debt collectors may not harass, oppress, or abuse you.\n* Debt collectors may not lie when collecting debts, such as falsely implying that you have committed a crime.\n* Debt collectors must identify themselves to you on the phone.\n* Debt collectors must stop contacting you if you ask them to do so in writing.\n. \nFor details, see Fair Debt Collection at ftc.gov/credit.
Yes, as long as there is an unpaid debt that is due , a cedit card company may sue and get a judgment against the debtor. The problem for the card company is that if there are… no wages or income to garnish, it may have to go after other assets the debtor owns or just wait until the debtor gets a job. Judgments are not court orders to find a way to pay them.
I don't know such kind of loan in US, but if you are a citizen if UK then you can definitely have this loan. These loans are specially designed for those unemployed students w…ho wish to carry out their higher studies but could not due to paucity of money and funds. You can easily find the loan in major loan lending agencies of your city. One thing I must tell you that since you get this loan in spite of bad credit scores, the rate of interest charges is on the higher side. If you are able to repay it on time, then only opt for this loan otherwise this loan might turn out to be a night mare for you..!!!
You can't get a payday loan without a payday. The loan is made as an advance on your next payroll check. If you are unemployed they have nothing to lend on and have no reason …to believe you have the means to pay it back.
There is not much that credit card companies can do to collect the money owed to them by people who are unemployed. In the event that you get a job, if you were not making pay…ment voluntarily, the credit card company could arrange to garnish part of your wages. But if you're unemployed, they are out of luck. The worst they can do is to cancel your card and give you a bad credit rating. True, there is not much a credit card can do if you are unemployed. Furthermore, credit cards or collections agencies cannot garnish unemployment, child support, social security and many others ( check with your states legal aid clinic) for unsecured debt. Become your own best advocate, Download a phone script to deal with malicious debt collectors. Become familiar with the Fair Debt Collections Practices Act. Always send your letters certified when dealing with debt collectors. Find out when unsecured debt becomes time-barred or uncollectable in your state. For example, NV =4 years. DO NOT let yourself be duped into paying an expired debt no matter how hateful a debt collector threatens you. There is no debtors prison. You will not be arrested for bad debt. This is not our fault our jobs disappeared. The banks got bailed out, and all we got is lies. lies. lies. no jobs, foreclosures, food stamps ( if were lucky) no health insurance and most of all no voice and no compassion. Be educated...be your own best advocate, and never, Ever let anyone make you feel like you have failed...
Yes, they can. For a credit card company to actually SUE someone is pretty serious. If you're talking about collecting on a debt owed, they can certainly get a judgement again…st you. If they win a judgement against you, they can collect the debt when you become employed or even have your salary garnished. At least in the U.S., anybody can sue anyone for just about anything. Whether or not that law suit is justified, or won't be immediately kicked out of court, is the question.
Yes they can. I have been a stay at home Mom since 2009 and in 2010 a debt collector filed a judgement against me. We hadn't heard anything from them since 2010 after I called… them once I was served with the summons to appear and they just completely emptied two bank accounts that we have. One is a joint account with the father of my child where the only money coming in is his and the second had $3.00 in it. I recommend that you immediately find a way to file bankruptcy if your debt is super high. This nonsense has cost me more money than the $1,500 to file bankruptcy. When you have NO money $1,500 is a somewhat unfathomable amount but my judgement has gone from $10,000 in 2010 to $15,000 now and it will just keep climbing.
The reason a lender requires a co-signer is to guaranty the loan will be repaid if the primary borrower doesn't have a strong enough credit record or an adequate income. Indee…d, if the primary fails to pay the co-signer is fully responsible for paying the balance of the loan. It is unlikely you would qualify as a guarantor if you are unemployed yourself but you can ask! The reason a lender requires a co-signer is to guaranty the loan will be repaid if the primary borrower doesn't have a strong enough credit record or an adequate income. Indeed, if the primary fails to pay the co-signer is fully responsible for paying the balance of the loan. It is unlikely you would qualify as a guarantor if you are unemployed yourself but you can ask! The reason a lender requires a co-signer is to guaranty the loan will be repaid if the primary borrower doesn't have a strong enough credit record or an adequate income. Indeed, if the primary fails to pay the co-signer is fully responsible for paying the balance of the loan. It is unlikely you would qualify as a guarantor if you are unemployed yourself but you can ask! The reason a lender requires a co-signer is to guaranty the loan will be repaid if the primary borrower doesn't have a strong enough credit record or an adequate income. Indeed, if the primary fails to pay the co-signer is fully responsible for paying the balance of the loan. It is unlikely you would qualify as a guarantor if you are unemployed yourself but you can ask!
There is in reality no legal defense for the inability to pay one's debts unless the so named debt is invalid. Unfortunately the law does not recognize job loss, illness or …other such factors as valid reasons for not paying one's debts. That being the case, the debtor facing legal action has very little recourse if the creditor receives a civil suit judgment (and they will). However, all states allow specific amounts of real and personal property to be exempted from creditor judgment action. Perhaps the best option would be for the person facing a civil suit to consult with an attorney or legal services to discuss the situation. Most attorneys offer free or minimal fee consultations and some will discuss such matters by phone or even email once identification has been established.
Unfortunately the law does not recognize the inability to pay one's debts due to any sort of hardship. If the lawsuit is valid it will go forward regardless of the person's fi…nancial status. If the creditor wins the suit (which is most likely) they will be granted a judgment and will then be able to execute it in the manner allowed by the laws of the debtor's state.
Go to a debt management firm in your area and inquire about loans for the unemployed to see what's available to you. This is a good way to get your creditors to leave you alon…e in a financial crisis, get a lower rate, and get any late fees terminated.