Yes, if you are over limit and you may be charged late fees unless you pay down to your limit.
You can be charged any fees that were applicable to the account when it was still open. Yes, fees and interests will still be applied as long as there is an account balance.
No, the applicable interest and fees will still be charged until the balance of the account is paid.
* Yes, you can still maintain a friendship by keeping in touch by email or other accounts online. Friendships are friendships no matter the distance.
Yes, Charged off accounts are sold many times for collection .It also depends on many things as to what can be done . One is the statute of limitation for the state its in.There is a wealth of inf. on the PC about debt collections and may laws that apply.
Of course But most banks will not chase you down if the amount is small If you didn not have enough to cover a charge you will be assessed the OD fee
180 days or six months, after which it is charged off but you would still owe the debt because they merely make an entry of you in their books as a potential loss.
You should not close a credit card if you are still paying on it. It will bring your credit score down. Close it when you are done paying. I know this because my mom owns her own credit repair/management business and she tells me what to do with my credit cards.
If tax is still remains payable while close of books of accounts then it is a liability to be paid to tax authorities that's why shown under liability side of balance sheet as current liability.
SM still has an accounts payable to the proctor and gamble company.
Any accounts that deposit money and they still money BTW.
Be careful when you close a credit card account. It could drop your credit score considerably. The way to avoid late payments and over limit is to stop using the card and make payments on time. If you want to learn more about credit scores and how to improve yours: Take a look at Phil Turner's Credit Bible. You should find valuable information on credit cards and improving your credit.
Just because an account is charge-off does NOT mean the debt is not being collected upon or that the debt is expunged. Charge-off accounts are often sold to collectin agencies or junk debt buyers who will subsequently try to collect on it. Paying a charged-off debt will not help your credit scores. A status of 'paid charge-off' or 'paid collection' is still a negative. A mortgage lender may look more favorably upon accounts like these, but paying won't remove the tradelines or increase your scores.