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What happens to people who cannot pay their credit card and other bills?
Wiki User
∙ 9y ago
Always request an extension or payment plan, DO NOT just miss paying the bill. What happens next depends on the creditor. Generally after a maximum of 180 days of delinquency the account is "charged off" and referred to a collection agency. The collector will contact the debtor by mail and phone calls to their home, place of employment and in some instances family members if the debtor cannot be found. The federal debt collection act offers some protection to the debtor, but it is the responsibility of the debtor to assert those rights, such as sending a "cease and desist" notice to the collection agency. The debtor may or may not be sued for the debt, companies differ greatly on if and when to take legal action.
Suggestions:
- See where you might be able to reduce or cut your monthly expenses: cable- reduce plan to the basic, reduce expensive phone bundles, reduce dining & entertainment, reduce utility use, etc.
- See if you qualify for financial assistance such as fuel assistance.
- Stop using credit cards. Do not buy 'things' you cannot afford to pay for.
- Contact a credit counseling agency for a review.
Wiki User
∙ 9y ago
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Does a cosigner have to have a glowing credit history to cosign on a lease agreement for apartment - if their income is good?
They must have a good credit record. Many people with good incomes don't pay their bills and that makes them poor credit risks.They must have a good credit record. Many people with good incomes don't pay their bills and that makes them poor credit risks.They must have a good credit record. Many people with good incomes don't pay their bills and that makes them poor credit risks.They must have a good credit record. Many people with good incomes don't pay their bills and that makes them poor credit risks.
Can the vanquis bank help you with your credit score?
Any bank can help you with your credit score. However it is ultimately up to you what happens to your credit score. Paying bills on time is most important.
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.
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 can bring down your credit score?
you credit score will go down if you are not paying your monthly bills on time, in order for you to increase your credit score you have to pay your credit bills on time or in full.
Does a cosigner have to have a glowing credit history to cosign on a lease agreement for apartment - if their income is good?
They must have a good credit record. Many people with good incomes don't pay their bills and that makes them poor credit risks.They must have a good credit record. Many people with good incomes don't pay their bills and that makes them poor credit risks.They must have a good credit record. Many people with good incomes don't pay their bills and that makes them poor credit risks.They must have a good credit record. Many people with good incomes don't pay their bills and that makes them poor credit risks.
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.
Can the vanquis bank help you with your credit score?
Any bank can help you with your credit score. However it is ultimately up to you what happens to your credit score. Paying bills on time is most important.
What agency collects information on how promptly people pay their bills?
Credit bureau
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.
What was exchanged between both the Caribbean colonies and England then the Caribbean colonies and North America?
bills of credit
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.
Does low income effect shopping power?
It can, but it depends. If you pay your monthly bills on time, you will probably have a higher credit score. However, if you do not pay bills on time, or you have been sent to collections (people are sent to collections if they do not pay their bills), then this may effect your shopping power in the credit world. That is, if you are pertaining to credit cards and credit scores. Thanks!
What is a credit ratingvgggjgggg?
A credit rating is a rating of how well a person pays their bills. If bills are paid on time the credit rating goes up.
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.
How can you remove delinquent utility bills from your credit report?
You can only remove bills if you pay them or if the bills are listed incorrectly on your credit report. It is best to pay them off and then the bills will not be listed as delinquent.
What bills can you pay using a credit card?
shopping bills,electric bills,telephone bills and etc
