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Some consumer's are under the mistaken belief that a credit card issuer cannot take legal steps to recover the debt because a credit card is considered an unsecured debt. This is completely false, the creditor can and often does sue the debtor and if awarded a judgment, use the judgment as income garnishment, bank account levy, attachment and sale of personal property or a lien against real property. Judgments are also entered on the consumer's credit report and will remain for 7 years or longer.

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โˆ™ 2009-04-23 18:03:38
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The law is derived from three main sources what are they

If there is an erroneous payment then

These funds last 5 years have limited use and cannot pay for new obligations

How do you know which transactions are awaiting your approval

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Q: What happens if you cannot pay your credit card bills?
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Related questions

How does one pay credit card bills online?

One can pay credit card bills online by consulting with the website of their credit card company. Many companies offer an option to pay credit card bills online.

What happens when your credit card expires?

You cannot use it until you renew it.

What happens to my credit card debt after I die if I have a power of attorney?

If you have money or property - the bills will be paid. If you don't have any money the bills won't be paid.

What bills can you pay using a credit card?

shopping bills,electric bills,telephone bills and etc

What happens when you close a credit card with a balance?

You cannot close it until you settle all your dues to the card issuing bank.

What do credit card companies call someone who pays their bills?

Outstanding Bills

What happens if you cannot pay off your credit card debt in the state of Texas?

You'll be in prison.

What if you have bad credit because of bills not credit card debts?

It is still bad credit history.

Can wages be garnished for medical bills in Texas?

Wages cannot be garnered for medical bills in Texas. They can also not be garnered for credit card debt, mortgage debt, or car loans.

How do you build credit the fastest?

Pay your bills on time. Actually, use a credit card and pay your bills in full ahead of time.Paying bills on time will not make a credit history.USING credit will.Just be careful.

Increase credit limit for credit card?

If you want to increase your credit card limit, you should use it regularly and create a predictable credit card history. Pay your bills on time.

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