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When you have a credit card that has been charged off what do the credit card companies do?
Wiki User
∙ 19y ago
The usual action is the account is sold to a third party collector. That agency will use regular procedure to collect. Generally it will be by mail or phone contact. There are a few ca's that send collectors to the residence of the debtor, however, this action is seldom used. If a satisfactory arrangement cannot be made between the involved parties, legal action may be the next step. Whether a lawsuit is filed depends on many factors, the main one being if the debt is collectible. ("Macky"...macky83@juno.com)
Wiki User
∙ 19y ago
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Does it matter what was charged on my credit card and when it was charged?
Yes.
What future implacations does a charged out credit card balance have and what does charged out mean?
Charged out means you cant charge any more on your card, & the furer implications it will have is it will slowly make your credit bad credit till you pay your credit card off where their is no more out standing balanc.
Can a credit card company reopen a charged off account?
No, a credit card company will not reopen a charged off account. They may choose to grant you a new line of credit, but this would be rare.
Is it possible to get a discount for credit card processing?
Yes it possible to get a discount for credit card processing at many places. Many companies are giving discount for credit card processing online, but many companies charge more for credit card processing.
What credit card companies offer identity monitoring?
There are a number of credit card companies that offer identity monitoring. Citi credit cards offer identity monitoring as do Capital One credit cards.
What is the interest charged by Chase credit cards?
Like almost all credit card companies, Chase offers a number of different credit cards. The interest charged by Chase ranges from only a few percent to close to a standard rate (20% at most credit card companies).
Is it lawful for credit card companies to charge unfair high credit card rates?
There are legal limits to how much interest can be charged. Usury rates are different in each state, most credit card companies are smart enough not to break the law.
Can a credit card companies sue a person in a nursing home?
Do you think credit card companies care where someone lives, or how old they are, or how ill? I doubt it; it is all just business to them. If money was charged, then money is owed. If the money was not charged to this persons account, she needs a lawyer to protect herself.
Is a website required to tell you when they are charging the credit card?
Yes, they are required to send you an E-Mail informing you that your credit card has been charged.
Does it matter what was charged on my credit card and when it was charged?
Yes.
Can a civil summons be filed if the credit card debt has been charged off?
Yes
When I look at my credit card statement online why does the available credit show less than the actual credit limit?
The difference between the two should be what has been charged to the card.
How are companies who advertise on the Web charged?
Companies who advertise on the web are usually charged via major credit card although in some exceptions there may be other payment options such as PayPal, M.O., or check.
Where to get a credit card?
Banks and credit card companies i guess
Is there any credit card protection in the case of a lost card?
"Yes. Most credit card companies offer services for a lost or stolen card, usually if this happens you need to call in and report the card missing, and you won't be charged for uses after it's reported."
Can you re-open a credit card once closed?
Credit card companies will not reopen a credit card account once it has been closed. The company will issue a new credit card and new account if it wishes to do business with the person.
What are some of the 'major' credit card companies?
Some of the 'major' credit card companies are Visa, Mastercard, and American Express. These three are the three largest credit card companies in the world.
