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What happens when your credit card debt goes into collections?

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Wiki User
2005-09-24 19:25:34
2005-09-24 19:25:34

The collector will act as an agent for the original creditor and follow their prescribed collection procedures, usually mail and phone contact. There is no specific length of time that a collector will pursue an account before deciding IF it should be referred to a collections law firm or attorney for legal action.

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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.

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Yes, they will send you to collections for that amount.

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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.

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A person is in credit card debt when they have charges on their credit card and can not pay them. A person can make charges on a credit card and make payments at a later date. When a person charges on their credit card, the charge is now a debt that must be paid.

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Your credit card because once you pay it off, the collection agency would quit annoying you all the time. They would be satisfied because they will get a part of the money you pay to your credit card. :)

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Only the card expires, not the line of credit it is attached to. So interest will still accrue on the unpaid debt.

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Statute of limitation on credit card debt in Singapore?

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