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Answered 2011-09-12 15:54:22
No not legally, never!
I (the one addressed in the above), agree and must apologise to the previous poster. It was foolish of me to make such an absolute statement as all are frauds. The information s/he provided is excellent...and I believe shows we all agree it is an industry fraught with pitfalls and misunderstandings....and you really need to do a lot of research before doing business with any...and as always...if it souns too good to be true....it probably is.
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You have massive credit card debt no assets and do not care about your credit rating what do you do?
You're already doing it.
What assets can be seized in a judgment in Florida?
Nothing. A lien may be placed on real property that you own. At time of sale..the lien will be satisfied. Kiss the ground you live in florida. You can steal from credit card companies at will.
Which credit card companies extend credit to small businesses?
For one, I know Bank of America has many small business credit card programs. A small business credit card is always better than using your personal card because the debt is tied to business assets instead of personal assets. Go to www.bankofamerica.com to see what they offer.
Are you responsible for your deceased parent's credit card debt?
If the estate has any assets, the estate should pay for the debt before anything is passed on to the heirs. If there are no assets the credit card company will just have to write it off. You are not held responsible unless you co-signed for the card.
Credit card debt default and asset seizure?
A company can seize assets doe to credit card default if they obtain a judgment through the court. You will be notified of the court date.
Mother is deceased all assets are in a trust fund can credit card debt claim assets?
I do not know the fine points of the law. However, it seems to me that the logical thing to do is to pay off the credit card and any other debt that your mother incurred. You can contact the credit card company and ask. You may need to send them a copy of her death certificate.
What is a secured mastercard?
A "secured" credit card is one for which the holder has made a deposit, usually in the amount of the credit limit on the card. This insures that the issuing bank is not out any money if the holder defaults; they just keep the security deposit in that case.
How can I upgrade my credit card into a Platinum credit card?
If you have a good credit history, with no defaults or other problems, then usually your card provider will be delighted to upgrade you. They make money when you spend money! It is certainly worth contacting them to ask for a credit limit increase.
Can a credit card company garnish your business bank account?
Credit card companies can't just seize people's money, but they can file a lawsuit to recover unpaid debts, and if a court orders it, money can then be seized.
Where can a student submit a credit card application?
Credit card applications for students are the same as for any person and may be submitted to any major lending institution that offers credit cards. Because students tend to have few assets and/or a limited credit history it is not uncommon for them to be required to have a parent as a co-signer to the credit card.
If you're an autorized user on credit card can you roll it into bankruptcy?
No. That credit obligation does not belong to you, you have simply been authorized to sign for purchases made. Think of the example of a corporate credit card. A company would authorize you to buy things with the card but it is not part of your personal finances. You don't legally have to make payments on it, and if the card defaults they don't come after you for payment. Therefore the account is not your liability.
Can you get another credit card if you owe another?
Yes, you can. Many places will give you a credit card without paying that much attention to your credit report. But be warned, if you're getting yourself deeper into debt, your assets and possessions might be at risk.
Can a credit card company take your car in NYS?
Yes they can ! You entered into a legally-binding contract with the card company when you applied for the card. If you default on the repayments, that contract allows the card company to seize any assets you own. They can then sell your assets and use the money raised to repay YOUR DEBT !
Can you file bankruptcy on credit card debt alone?
No. You must include all assets and all debts in your filing.
What does it mean to cosign for a credit card?
That means you agree to be completely responsible for paying the balance of the account if the primary card holder defaults on the payments. You may not know if the primary card holder is not paying the monthly bill and your credit record will be affected if the payments are late.You should be very careful about co-signing for a credit card and make absolutely sure you understand your liability if the charges are not paid.
Who is responsible for a dependent's credit card debt?
The dependent's estate is required to resolve all debts. If there are co-signers on the credit card, they may be held accountable. If there are not enough assets to pay off the debts, they are not resolved.
Is an authorized user on a credit card liable?
Not to the credit card issuer. The account holder is totally responsible for debt incurred on a credit card. The exception is married couples residing in community property states, where both spouses are considered have the same rights to property and assets and the same responsiblity for debts.
Do you have to pay your company credit card debt if it is out of business?
It depends on the credit card application and the structure of the company. Most credit cards issued to a small business are guaranteed by the owner. In that case, you must pay. If the card was issued soley to the company, the credit card company could sue your corporation to recover any assets available. If the company was a sole proprietorship or a partnership, you are liable.
what is credit card apply?
credit card is a purchaging card.
What can a credit card company attach if a judgment is found in their favor?
Any assets you have such as property, automobiles, bank accounts or wages.
You created a ledger for your credit card under loans When you try to make payment tally gives error message What is the correct group for credit card in Tally?
i think it comes under loans & advanced (fixed assets)
If the credit card belong only to the deceased with no assets widow still have to pay?
The estate still has to pay the debt. Usually that means that the widow will have to pay the debt from the assets left by the husband.
Who's responsible for credit card debt after the card holder dies?
The estate covers the bill. If the spouse is still alive, he/she will probably have to cover the bill with the proceeds of the estate. If there aren't enough assets to cover the debt, and the credit account was not joint with anyone else, the credit card company will have to pay it out of their own pocket. Credit card companies cannot force the family to pay the debt. == ==
Can 401K funds be subject to garnishment for credit card debt?
No 401K money cannot be seized for virtually anything. If by garnishment you mean your collecting from the 401k - there are many ways that income can be seized, just not while it's in the 401k.
Is it illegal to use your child's credit?
Since when can a child have credit? They need a steady job in order to apply for credit. And Mom would have to sign for that, if the child is under the age of majority....so in fact Mom is responsible to pay the bill if the child defaults on payments. Basically it is Mom's credit card.
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