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What action can a credit card company take on unpaid credit cards?
Wiki User
∙ 14y ago
They can sue you, the results can lead to jail time for fraud or allow them to place a lien on property or to garnish wages.
They can place a lien on property (depends on the agreement you signed).
They can make an adverse entry in the credit reports.
Wiki User
∙ 14y ago
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What happens if one does not pay credit cards?
The credit card company will pursue you for the unpaid debt, usually they will get a court order which will give you a very poor credit rating for several years
If a company goes out of business who pays the credit cards?
the owner pays the credit cards because they owned the company
What is subsidiary credit cards?
Subsidiary credit cards are viable credit cards issued under the direction of a major credit card company. For example, the American Express Company issues several different types of credit cards. They have cards that give you cash back, cards that give you points to purchase other items, and cards that earn airline travel miles. Each one of these types of cards are subsidiary credit cards.
How do I transfer the balance on my credit cards?
You will have to talk to you credit card company. They will be able to assist you in transferring your balance on your credit cards.
Is it possible to go outside the country even if you have an unpaid credit card account?
Unpaid credit cards won't effect your ability to travel. If left unpaid, they will be charged off and likely assigned or sold to a collections agency. The collections agency will continue to attempt collections, and your credit will be impacted negatively for seven years.
How bad is my credit due to unpaid credit cards?
You credit score will decrease significantly if you do not pay your minimum credit card payment every month. Unpaid cards will be reported as delinquent and really destroy your score.
What happens if one does not pay credit cards?
The credit card company will pursue you for the unpaid debt, usually they will get a court order which will give you a very poor credit rating for several years
Can unpaid credit card makes you a derogated record?
YES, that is one of the fears with not paying your credit cards on time.
If a company goes out of business who pays the credit cards?
the owner pays the credit cards because they owned the company
What is the statute of limitation on credit card debt in New york?
The statute of limitation for unpaid credit cards in N.Y. is 7 years.
Who issued the first credit cards in the US?
These early cards were issued by the private company itself based on the credit policy of that company.
What is subsidiary credit cards?
Subsidiary credit cards are viable credit cards issued under the direction of a major credit card company. For example, the American Express Company issues several different types of credit cards. They have cards that give you cash back, cards that give you points to purchase other items, and cards that earn airline travel miles. Each one of these types of cards are subsidiary credit cards.
How do I transfer the balance on my credit cards?
You will have to talk to you credit card company. They will be able to assist you in transferring your balance on your credit cards.
Is it possible to go outside the country even if you have an unpaid credit card account?
Unpaid credit cards won't effect your ability to travel. If left unpaid, they will be charged off and likely assigned or sold to a collections agency. The collections agency will continue to attempt collections, and your credit will be impacted negatively for seven years.
What happens if you are sued for unpaid credit cards?
You could possibly go to jail and or prison. Sorry IF this question is an actuality for you. :(
What is Household Bank?
Household bank is a lending company. They issue credit cards and prepaid debit cards for people with bad credit or no credit.
Which company does interest free credit cards?
Almost every major credit card company offers interest free credit cards. The factors that depend on your qualification include past credit history and current income.
