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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.
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
court government
7 Years from the DLA.
Total credit card debt currently amounts to about 962 billion dollars. The average credit card debt per owning household is 14,750 dollars. Approximately 609.8 million credit cards are currently in USA, with credit card users having an average of 3.5 cards each. Young people have credit card balance well below the average. While 25 to 34 years old manage to cut their credit card debt, they still average over $5,000 in credit card debt.
Is there a cost to find out the staue of limiations in years on credit card debt
The Debt goes to be paid by his estate, if there is no money to pay the debt it just bad luck for the credit card company.
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.
seven years
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.
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
court government
7 Years from the DLA.
After 7 years of debt, the debt will be wiped off a persons credit report. There are some instances that certain types of credit will stay on the credit report for up to 10 years.
Total credit card debt currently amounts to about 962 billion dollars. The average credit card debt per owning household is 14,750 dollars. Approximately 609.8 million credit cards are currently in USA, with credit card users having an average of 3.5 cards each. Young people have credit card balance well below the average. While 25 to 34 years old manage to cut their credit card debt, they still average over $5,000 in credit card debt.
as long as it remains a part of your credit report, 7 years.
Credit Card debt is considered an Open Line of Credit. The Statute of Limitations for collection in Tennessee is 6 years. That would be from the last use or payment.