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Debt CAN be settled with credit card debt and other unsecured debts. Negotiating a settlement is between you and your creditor and settlements have happened for millions of people and helped them get out of debt.
Having credit card debt is not a crime in itself. Failing to repay the debt could lead to legal consequences such as collections, lawsuits, or damage to your credit score. However, these consequences are civil matters rather than criminal charges.
If his name is not on the card,(He did not sign for the card) Then NO! And credit cards are unsecured loans.
No. Credit card debt is unsecured and they can take nothing from you ever. They can only harrass and threaten and trick you into settling for a percntage of what you owe.
A credit card debt will be granted a judgment possibly and then the company can pursue you to collect the debt. A garnishment could even be awarded, although this is rare on unsecured debt.
It goes on the credit reports as a delinquencyAnswer:If you don't pay your credit card debt then to your creditor may take you to civil court and can get a judgment to hold your property. There are other penalty as well if you dont pay your credit card debt.
There is no such thing as unsecured debt. There is debt that is not secured by collateral. There is debt that is secured by your signature on a contract. And, yes, if the creditor has obtained a judgment against you for credit card debt, they may serve your employer with an order of garnishee and secure up to 25% of your paycheck per pay period.
No, credit card debt is always considered "unsecured" regardless of what legal action may have been implemented in the collection of monies owed,
You can find information on unsecured credit card debt by going online and looking on various finance sites. You can also contact your local building society or bank and they will provide you with all the information you need and will give you advice if needed.
Credit cards are unsecured debt. If use your home to back up the Credit line. Yes they can.
unsecured debt