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Answered 2007-02-11 20:08:38

The original creditor will either attempt to collect the debt using their own collections department or refer the account to an outside collection agency. Generally after 180 days of default the original creditor will "charge off" off the debt, this does not make the debt invalid or uncollectible. Some original creditors will sell the debt to a third party collection agency, some will have their legal counsel initiate a lawsuit to recover monies owed, some will cancel the debt. A third party collector also has the option of pursuing a lawsuit against the debtor as well as using regular collection procedures. In addition the default will be entered on the debtor's credit report and will remain for seven years, thereby doing serious damage to the consumer's ability to obtain future credit.

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In California law husband has credit cards in his name only. He dies. Does the wife have to pay off his credit cards?

If the credit cards are in HIS NAME ONLY, then no. You do not have to pay them off.

Can you use a credit card to pay off other credit cards?

Yes. Contact your credit card company. They will need the account numbers of your other credit cards.

Is a widow obligated to pay for her deceased husband's credit cards even though she is not on the credit cards in Arizona?

Money that goes to his estate needs to pay off the account.

How can one find advice on how to pay off credit cards?

Paying off credit cards is the first step to a debt-free life. For tips on paying off all of your credit cards, check out websites like The Motley Fool or Money Girl.

Where can one find information on paying off credit cards?

Information about paying off credit cards can be found on sites that deal with credit problems. There you can find places to go to to help pay off your credit card debt within your budget.

What percent of Americans do not pay off their credit cards every month?


What are some tips when applying for credit cards?

Some tips for for when applying for credit cards are: making sure your credit score is good, being sure how you'll pay off your credit cards, avoiding store cards, and paying attention to your rate.

I have some credit cards what will happen if I stop paying them.?

Please do not stop paying your credit cards back. You will destroy your credit score. It is devastating what can happen if you stop paying off your cards. Credit card companies will harass & chase you for up to 7 years if you do not pay. They can make your life hell. This happened to me. I did my best to always pay off everything I owed. I worked 3 jobs at one time to make sure i had enough money to pay my credit cards on time. But when I got divorced, one of the credit cards I shared with my husband did not get paid. He promised to pay it when we were together. And he was paying it. But when he left me, he took off & decided to not pay the card anymore. Even though the charges on the card were his, I was responsible for the bill (because it was my credit card) . The credit card company did not get tired of chasing me for 7 years. They were relentless with sending me bills, & threatening to take me to court if I did not pay them. They did & I had to pay back the $2,900.00 that my ex-husband did not pay back on my credit card. Fortunately, they did not charge me interest on top of that. This situation ruined my credit score for a few years. After the credit card company got their money back, my credit score slowly recovered but it took many years to recover from this.

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Can I get a credit card for my bad credit?

If you need to get credit cards to help repair your credit, try secured credit cards. Many banks offer secured cards like Wells Fargo and Citi. You can also try store cards but be sure you pay them off each month.

Should you pay credit cards off fully or partially?

If you don't want to pay interest on the money you should pay them of fully.

How do I optimize paying off several credit cards?

Always pay off the one with the highest interest rate first. If you own a home you can refinance and take out cash to pay off your credit cards. I have no doubt that the interest rate you get on a refinance of your home loan will be lower than your current credit card rates.

When are credit cards a form of cash?

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How to quickly raise credit scores?

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What is the most effective way to pay off credit card debt?

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Can you explain best way to pay off credit cards?

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How much will your credit score increase if you pay off a debt for under a few hundred dollars?

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How do you pay in the playstation store?

Gift cards, and credit cards.

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Satan now owns you, pay up!

How do I improve on my credit?

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If you cant afford to pay car payment and credit cards which is better to pay if you are going to pay on one?

Pay the car payment. So you can take your butt to work and pay the credit cards!