0
Can you still be sued if a credit card company charges off your account?
Wiki User
∙ 18y ago
Yes, a charge off does not prevent a creditor or collector from filing a lawsuit against the debtor to recover debt owed. However, all states have statute of limitations that establish the time period in which a creditor may file a lawsuit.
Wiki User
∙ 18y ago
Add your answer:
Earn +20 pts
Does interest still accrue on your balance once you have closed a credit card account?
Yes, just like any other loan. Late charges, too, if you don't make the payments on time. If you close an credit card account with the bill remaining, do you still have to pay for it.
Can a credit card company allow a charge on an inactive credit card?
Sure they can. Inactive means it hasn't been used for a while, but it is still a valid account.
Can a credit card company report a 30 day late on a closed account that still has a balance?
If a credit card is closed it cannot have a balance. Just because you have stopped using the ard you cannot declare the account closed. If you owe even one penny, the account is open and the credit card company can 'report a 30 day late'
How to close an account that is showing open on your credit report?
If the account is still open, then contact the company that owns the account. If the account has been closed, then contact the bureau and dispute. The FCRA mandates penalties for those businesses which falsely report data when asked to correct it.
If you close a credit card can a merchant still charge the account?
No, if you close your credit card, a merchant will not be able to charge the account. When the merchant attempts to get an authorization, it will come back declined.Now, if a merchant received an authorization before the card account was closed, the authorization will be honored.A merchant may attempt to force a credit card transaction without an authorization, but the credit card company will not pay it.http://paymenttransactionsystems.comhttp://merchantpos.net
If you close your account with a balance will this hurt your credit or your credit score?
To successfully close an account, you must first have a zero balance on said account. Otherwise, you will still receive bills on that balance, which can and probably will accrue late charges.
Does interest still accrue on your balance once you have closed a credit card account?
Yes, just like any other loan. Late charges, too, if you don't make the payments on time. If you close an credit card account with the bill remaining, do you still have to pay for it.
If someone has a judgment against someone else due to fraud on a credit card can the credit card company still be held responsible in any way?
The credit card company has no obligation to reimburse or dismiss charges on the account unless indentity fraud is involved. A case where the card or card info was stolen and used without the knowledge of the holder. If the card holder knew the card was used fraudlently and did not report it in a timely manner, the company is still not legally obligated.
Can a credit card company allow a charge on an inactive credit card?
Sure they can. Inactive means it hasn't been used for a while, but it is still a valid account.
Can a credit card company report a 30 day late on a closed account that still has a balance?
If a credit card is closed it cannot have a balance. Just because you have stopped using the ard you cannot declare the account closed. If you owe even one penny, the account is open and the credit card company can 'report a 30 day late'
How do you find out how much the lawyer paid the credit card company for your debt?
Write to the company and ask them ! Even if your case is being handled by a lawyer, your account is still 'live' at the card company.
Can a credit card company still send you monthly bills and charge you finance charges on your account if they sent it to a collection agency?
YES, it stops collecting intrest when it goes to collections. at that point they have transfered your debt. It then becomes someone elses problem. But they stop collection intrest.
What does a credit card debt settlement work and how does it affect my credit?
Usually, they contact the cc company. Negotiate a lower rate. You pay the settlement company directly instead of the cc company. The effect varies depending on the cc company and the credit report company. It may say that the account is in some type of deliquency despite the fact that you are paying it off. It may just say the account is closed and show your balance (which still lowers your score because it increases your debt to credit ratio since you have a balance despite no credit available.) It won't be horrible on your report though. You can still have good credit despite doing this.
Can you have a credit account and still receive SSDI?
no
After a credit account is settled can the credit company still bill you?
If your account has been "settled", then by definition, you do not owe them anything, therefore there is nothing for them to bill you for. If they keep sending you a monthly "bill" so to speak, it is probably merely a statement (this is an indication that even though you have paid them off, your account is still "open"...i.e., you are free to continue using the credit card if you want to), and it should indicate "0" in the box labeled "amount owed" or "payment due". If this is not the case, call your credit card company at the customer service phone number on the back of the credit card, and they will help you figure out what is wrong, or close the account if that is what you want to do.
If it's over 30 days late in the credit card payment due to lost statement and credit card company waives the late fee and charges will this affect the credit report?
The credit report does not include late payments unless you are over 60 days, and it is really generally up to the credit card company to write it in. Most credit reports i have read are: account holder, when opened, when closed, who closed the account (you or them) how much was granted, how much was borrowed, how much you still owed. The monthly payments are usually in some check-like form where you can barely distinguish each and every date if you really try hard. If the credit card company is going to waive the fee for it, it is like it never happened. I can almost be positive that it will NEVER reach your credit report.
Are you liable for credit card debt if the credit card company has your Social Security number wrong?
If you held the account in name either solely or jointly and used the credit available you are still responsible for the debt, the error of the SSN is irrelevant.
