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What happens if unsecured credit card debt is not paid?
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.
When a negative remark falls off the credit report after 7 years does it lower the credit score or swing it higher if the debt was never paid?
When the negative debt is completely erased from your credit history, your credit score will experience an upward swing. Also, the longer time goes by and you have clean clear credit (and the debt is still on your report), your credit score will improve.
How do you get credit card debt removed from credit report?
It is always easy to think just because your debt your credit goes up, but that is not true at all. Many credit companies don't tell people that are suffering with credit debt or any debt that it not because your in debt that bring it down there are hidden fees that are not been removed so there where I come in and tell you the truth don't pay the debt. Its not going to help you out get in contact with an expert. I you need more information contact me at 786-792-2002
What is the status of subordinated debt?
When a company goes bankrupt a debt can go into subordinated debt. This means the subordinated debt has a lower priority than other debts. Typically this has a lower rating of credit.
Can debt consolidation be bad for your credit?
It depends on how you do it. If you use a place that consolidates your debt by asking credit card companies & other creditors to reduce your debt or interest rate, then yes, it could be harmful to your credit rating. If you are just consolidating your debt by getting a single loan to replace other loans, then there should be very little, if any effect, good or bad, to your credit rating. There is a chance that using debt consolidation services might affect your credit. Some debt management programs, like credit counseling, show up on your credit report. Some solutions, like debt settlement, don't show up on your credit report, but by definition cause late payments. Most debt consolidation services are there to help you get out of debt, not to sustain your credit report or credit score, so you should priorotize what you really want in seeking debt consolidation help. It depends on your situation. If you are in way over your head like have 5-10 credit cards open and have a balance to pay for 10 of those then I would go apply. Why are you paying 10 credit cards, rent/mortgage, food , transportation , utilities and medical expenses? Where are you going to get the money to do all that and still have no money to your name? Ask yourself this: How much do you have in your bank that is a positive number? It does not matter how much money is your income, but once your employer deposit your check into your bank, everything goes out to bills which leaves you with no money. Sure it affects your credit, but at least you are not having 10 creditors bugging you for money. There are secured credit cards for people who learned the hard way of credit
What happens when a credit card debt goes to litigation?
A credit card debt will be granted a judgment possibly and then the company can pursue you to collect the debt. A garnishment could even be awarded, although this is rare on unsecured debt.
In English Law What happens to credit card debt after the death of The card holder?
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.
What happens if unsecured credit card debt is not paid?
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.
When a negative remark falls off the credit report after 7 years does it lower the credit score or swing it higher if the debt was never paid?
When the negative debt is completely erased from your credit history, your credit score will experience an upward swing. Also, the longer time goes by and you have clean clear credit (and the debt is still on your report), your credit score will improve.
How do you get credit card debt removed from credit report?
It is always easy to think just because your debt your credit goes up, but that is not true at all. Many credit companies don't tell people that are suffering with credit debt or any debt that it not because your in debt that bring it down there are hidden fees that are not been removed so there where I come in and tell you the truth don't pay the debt. Its not going to help you out get in contact with an expert. I you need more information contact me at 786-792-2002
What is the status of subordinated debt?
When a company goes bankrupt a debt can go into subordinated debt. This means the subordinated debt has a lower priority than other debts. Typically this has a lower rating of credit.
When someone goes to prison what happens to his credit card debt?
The individual would still be responsible for their credit card debt, but their ability to make payments may be impacted while in prison. The debt will not disappear, and the credit card company may pursue collection efforts or legal action to recover the debt.
Where can I got to get rid of my credit card debt?
It is always easy to think just because you pay off your debt your credit score goes up, but that is not true at all. Many credit companies don't tell people that are suffering with credit debt or any debt that it not because your in debt that brings your credit down there are MANY hidden fees that are not been removed so, there's where I come in and tell you the truth don't pay the debt. It's not going to help you out. Get in contact with an expert. If you need more information contact me at 786-792-2002
Do you put GST or HST on the balance sheet?
HST paid goes on the credit side or expenses on the balance sheet
How can I consolidate credit card debt without hurting my credit score?
It is always easy to think just because you pay off your debt your credit score goes up, but that is not true at all. Many credit companies don't tell people that are suffering with credit debt or any debt that it not because your in debt that brings your credit down there are MANY hidden fees that are not been removed so, there's where I come in and tell you the truth don't pay the debt. It's not going to help you out. Get in contact with an expert. If you need more information contact me at 786-792-2002
Can debt consolidation be bad for your credit?
It depends on how you do it. If you use a place that consolidates your debt by asking credit card companies & other creditors to reduce your debt or interest rate, then yes, it could be harmful to your credit rating. If you are just consolidating your debt by getting a single loan to replace other loans, then there should be very little, if any effect, good or bad, to your credit rating. There is a chance that using debt consolidation services might affect your credit. Some debt management programs, like credit counseling, show up on your credit report. Some solutions, like debt settlement, don't show up on your credit report, but by definition cause late payments. Most debt consolidation services are there to help you get out of debt, not to sustain your credit report or credit score, so you should priorotize what you really want in seeking debt consolidation help. It depends on your situation. If you are in way over your head like have 5-10 credit cards open and have a balance to pay for 10 of those then I would go apply. Why are you paying 10 credit cards, rent/mortgage, food , transportation , utilities and medical expenses? Where are you going to get the money to do all that and still have no money to your name? Ask yourself this: How much do you have in your bank that is a positive number? It does not matter how much money is your income, but once your employer deposit your check into your bank, everything goes out to bills which leaves you with no money. Sure it affects your credit, but at least you are not having 10 creditors bugging you for money. There are secured credit cards for people who learned the hard way of credit
In the U.K.your husband has passed away are you responsible for paying his credit card debt if his name is the only one on his credit card account?
The "you" who would be responsible for his credit card debt would be the benefactors of his estate. In most states, that automatically goes to the wife. I would check with an attorney before liquidating any assets to pay the debt.
