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What happens if you cannot pay your credit card bills?

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Answered 2009-04-23 18:03:38

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

You'll be in prison.

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

Outstanding Bills

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.

How can credit card debt be reduced?

Firstly, credit card debt can be avoid by paying you credit card bills in a timely manner, avoid late fees and high interest. Creating a budget, no longer using credit cards, and paying your current credit bills will help reduce your debt.

Use Credit Cards to Lower Bills?

You can use credit cards to lower bills. Pay all bills as soon as they come in with your credit card. Accumulate the cash you would have paid for the bills and use it as soon as the new credit card bill comes in to pay it off. This can save you some interest on the bills, and possibly earn you some perk points on the credit cards because you are making more charges than you otherwise would be making. Just be sure to pay all the amounts you paid for bills on the credit card bill to avoid interest.

What are the risks of paying credit card bills online?

The major risks of paying credit card bills online is that your credit card information could be intercepted by thieves if the web site you are dealing with is not secure. Also if you pay your bills online the site you are dealing with could be hacked and you information gotten that way.

does using my credit card improve my credit score or damage my credit score?

Using your credit card can go both ways! If you choose not to pay your bills on time, you will recieve bad credit. If you pay all your bills on time, I'm certain you will have a squeaky clean credit!

What all bills can you pay with an express credit card account?

Express credit card is used to purchase items from the Express store, which is a clothing retailer. You would not be able to pay any other bills with this card.

How long do you save credit card bills?

five years

How do you pay your bills after you use your credit card?

very simple.

What is the Difference Between a consumer credit card and a secured credit card?

A consumer credit card is issued to you on good faith that you will build debt and pay it off. A secured credit card is issued to you for the amount that you deposit into a secured savings account. The debt you charge to your card cannot exceed the amount that you have in your account. Once you show good faith that you are responsible enough to maintain your credit to debt ratio and pay your bills on time, the company may offer you a consumer card in place of the secured card. A secured credit card is a great way to establish credit.

How can you pay credit card bills?

You can pay your credit card bill by sending a check into your credit card company. Some companies have online service options where you can pay right online.

What will happen if you dont paid your credit card bills?

Your credit card company will report you to one of the three credit agencies, Experian credit bureau, Equifax credit bureau, and TransUnion credit bureau.

Can you use a home equity line of credit to pay off credit card bills?

Yes, you can.

How do you maintain good credit?

Pay bills ontime, stay below 50% of your credit limits, have a good mixture of credit (Mortgage, Credit Card, and an Installement Loan), and always pay your bills.

A credit score is?

Credit score is ranges from 300 to 850. Credit is a evaluation of your credit card bills, mortgage and other loans.

What happens when you make a purchase using a credit card?

the credit card issuer pays the store

What is the punishment of not paying your credit card bills in Dubai?

to be put in prison

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