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The new credit card law will be effective February 22, 2010. I have detailed all the pros and cons of the new regulations in the informative articles linked below.
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How do the new credit card laws affect students?
The new credit card laws impose stricter regulations on credit card companies when marketing to students, including limiting the issuance of credit cards to individuals under the age of 21. This ensures that students are not targeted for credit cards without the means to repay the debt. Additionally, it prohibits certain aggressive marketing tactics on college campuses.
Is stealing a credit card against the law?
Yes, stealing a credit card is illegal and considered a form of theft. If caught, the perpetrator could face criminal charges and legal consequences. It is important to always respect the law and the property of others.
What is the law on unpaid credit charges?
In the United States, consumers are protected by the Fair Credit Billing Act, which sets rules for the resolution of billing errors on credit card accounts. If a consumer believes they were charged incorrectly on their credit card, they have the right to dispute the charge with the credit card company. It is important to report any billing errors promptly to avoid being responsible for unpaid charges.
In Canadian Law am I responsible for my spouse's credit card debt?
In general, you are not responsible for your spouse's credit card debt in Canada unless you have jointly signed for the debt or benefited from the purchases made with the card. It is always advisable to seek legal advice tailored to your specific situation.
What is the law for credit card debt?
Credit card debt laws vary by country, but generally, individuals are legally obligated to repay the full amount owed to the credit card issuer. Failure to repay can result in collection actions, lawsuits, and damage to credit scores. It's important to understand your rights and obligations regarding credit card debt under the laws of your jurisdiction.
Can a credit card company change your due date to earlier dates?
No a Creidt Card Company cannot change the due dates to earlier dates. The law does not permit it.
Credit Card Optimizer?
Credit Card Optimizer The Credit Card Optimizer helps you determine the best distribution of your credit card debt. By entering your credit card balances, rates and credit limits this calculator determines which balance transfers will produce the greatest savings.
What is alabamas staue of limmitations law regarding credit debt?
Alabama has one of the longer statute of limitations (SOL) for credit card debt. Credit card debt is considered a contract debt in AL. That makes the SOL 10 years from the date of last activity on the account.
What is the official name of the credit card law in the United States of America?
The official name of the credit car law in the United States of America is called the Credit Card Act of 2009. It was signed into law by current President Barack Obama.
Has Obama implemented any credit card regulations?
Yes. The credit card act of 2009 was signed into law by President Barack Obama on May 22, 2009. This law helps protect card holders.
Credit card co signer?
i had a credit card in my name i was just a signer on it but i did use it can i get into trouble with the law for this i was given permission by the main card holder that i could use the card
What does effective date mean on an unemployment application?
Effective date (in any sense) means the earliest date something starts at. For example "Beginning January 1, 2010 xxxxx will be the new law", where "January 1, 2010" is the effective date that the new law becomes official.
If your mother-in-law creates a credit card account for your wife when she was a minor is your wife responsible for the charges if she didn't use the card?
Modification to question... If your mother-in-law created a credit card account in your wife's name when she was a minor with the mother-in-law as a co-signer, and your wife did not use the card but the mother-in-law did, who is responsible for the balance?
Can a credit card company garnish your wages in North Carolina?
No, N.C. law does not allow wage garnishment when it pertains to credit card debt.
What is the Florida law concerning items purchased using store issued credit cards?
Florida has no law concerning items purchased using store-issued credit cards. In the eyes of the law, a store credit card is no different than a regular credit card if the card provides a mechanism to pay over time (i.e., longer than one month) and there is a credit limit associated with the card. Florida does not have a specific law concerning goods purchased with a credit card; rather, Florida sets guidelines as to the pricing of the cards (e.g., maximum interest rate, fees charged).
If a family member uses a credit card one time unauthorized can that be punishable by law?
Yes, if a family members uses a credit card without permission they can be punished by law. That is considered to be theft.
Is a court bound to apply a new law to a pending case before the effective date?
They cannot. A law is not a law until the date it goes into effect.
