It means YOU will be paying for a car someone else is driving. it means lenders and collection agencies will be calling YOU and bugging YOU while they ride around listening to CDs. It means YOU will be getting letters in the mail about judgments while they drive around lookin purty. It means YOU will have your paycheck garnisheed every week while they ride around for free. NO, I'm not trying to be mean, its just the facts. Signing for someone else is NOT the thing to do. Best thing you could do for your credit is go get the car, drive it yourself and PAY FOR IT. good Luck
If you don't pay your credit card bill, the company may put the nonpayment on your credit report. Also, the credit company may sue you in court.
If it isn't on your credit report, the credit card company still has hopes of you paying it off. When they see that isn't going to happen, you can bet your butt that it WILL be on your credit report.
Since credit cards are unsecured loans, there is no collateral that the credit card company can repossess if you go into default on your payments. That being said, a credit card company can take you to court and sue you for the unpaid balance. When that happens, the judge can order income withholding or other measures to settle the debt. I've never heard of any judge ordering a foreclosure because of unsecured debt, and while I suppose it's possible, I don't think it would ever happen. The amount owed would have to be so immense that it would make sense for the credit card company to go to that much effort. I hope that helps, and best of luck to you! --Connie, ConsolidatedCredit.org
Your credit card company will report you to one of the three credit agencies, Experian credit bureau, Equifax credit bureau, and TransUnion credit bureau.
They say that I am in contract to pay for everything. They have my credit card and that's it. What can happen if the credit card on file is invalid?
AMC Credit Corp is a complete scam. Don't believe any positive testimonials about this company. They were written by the company themselves. I personally know this to be true because I was scamed out of 3800.00 dollars. They promised a personal loan that i never received. Please don't let it happen to you.
Yes, in both circumstances. When you sign the contract it is pending approved credit. The dealership owns the car and figures it can get you financed by the banks but when that fails to happen the dealership still owns the car. You are just driving till the contract is bought by the bank. The Sales rep can and will get the car because it isn't being reposed. They own it and he is representing them in getting it back. Sorry it happened to you but it does happen out there
If a customers account has a "credit" balance, this means the company owes that customer rather than the customer owing the company. Customer accounts tend to have a debit balance, meaning the customer owes the company that amount. It is rare when a company owes a customer, if this does happen, the account becomes a liability instead of an asset because of the fact that now the company owes money rather than is "owed" money.
Your best bet would be to contact a repossession company there. You happen to be very lucky, there are some major companies there that are extremely effective. Check your local yellow pages.
Yes. It happened to my neighbor and they couldn't sell until the debt was settled. True, but this would only happen if the credit card company first sued to collect the debt and was successful in obtaining a judgment.
NO. The credit card company won't allow that to happen.It is illegal for ANYONE who is not the card holder, named on the card, to sign for goods purchased with the card.Expanding on the above answer: A minor may be able to use an adult's credit card if the credit card owner has officially authorized the minor to use it. This would require the adult to contact the credit card company to document the minor as an authorized user; rules/regulations vary by company. Without this formal step, the first response holds true: it would be illegal.
Two things will happen... (a) Your service will be disconnected and (b) the company will sue you for the unused months of he contract. This will affect your credit rating - making it difficult to get credit in the future.
The lender will eventually repossess the car.
It would be in your best interest to try and negotiate something with your creditor. What will probably happen if they repossess your vehicle is that they will auction it off to the best bidder in an attempt to recover what you owe on the car. If the best bid does not cover the debt you owe, they will come after you for the balance. So you will be stuck paying the balance on a car that you don't even have anymore.
your credit rating will drop
Nothing.Just because Steve Jobs died doesnt mean that someting bad is going to happen.
It depends on the credit card and company, and your specific plan. Usually nothing. Some may charge a small fee for maintaining the card (which may be waived if the card is used.) Some may cancel the account, such as is common with Pre-Pay cards. Contact your bank or credit company for more info.
Maybe nothing. It depends upon whether the credit card company reported the delinquent activity to the credit bureaus. If it was a one-time issue (and otherwise you're always on time with your payments) you can contact the credit company to ask that they waive the late payment fee as a customer courtesy, just explain it was an oversight on your part and won't happen again. You can also ask if they reported the missed payment to the credit bureaus, or run your credit report to find out yourself.
Nothing will happen to a person if they hid a motorcycle that is being repossessed. Eventually, the company that is trying to repossess will either give up or find you. They will use all tools at their disposal depending how much is owed at the time.
I doubt seriously anybody on earth has a $90k limit on their CC's - even if the debt is 50 cents, they can sue you for the balance. You borrowed the money and promised to pay it back ... you don't pay, they sue. Simple as that.
can't happen man. When u sell on credit accounts receivable have to go up because you are getting paid in the future.
After eviction, the landlord may choose to file a civil action against you, or they may hire a collections company to seek in the debt. The collections company will probably list the debt on your credit reports.
All you have to do is contact your credit card company & request your increase. The longer you have been doing business with them, the bigger the chance is that they will increase your limit for you. Also, this will happen with a higher probability if you are in good standing with your payments. As long as you have paid on time etc. Good luck!
Negative credit rating. Stays on your credit report for 7 years. Don't let it happen.
what will happen if yhour boyfriend saw you sleeping to his brother room, but nothing happen between your girlfriend and your brother its just he ask some favor to sleep there because he need somebody to wake him up because you and him have the same company.