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What else can I help you with?
Is it possible to go outside the country even if you have an unpaid credit card account?
Unpaid credit cards won't effect your ability to travel. If left unpaid, they will be charged off and likely assigned or sold to a collections agency. The collections agency will continue to attempt collections, and your credit will be impacted negatively for seven years.
What should you pay off first a credit card or a collections debt?
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. :)
Does the interest and finance charge stop each month after a credit card charge off?
No - I am a collector and service primarily unsecured credit card debt. Per the cardholder agreement that was signed with the credit card company, the account holder is often liable for a LARGER interest rate after an account goes into collections. This may not always be the case, but I rarely see credit card collections that have interest rates lower than 18%. Finance charges are not often applicable when the tradeline has been closed and charged off into collections.
If a credit card does a charge-off and sends it to a collection agency can the original creditor still try to collect?
yes
Can Wages be garnished over a 1200.00 Credit Card Debt?
It is not going to happen. There is a process that these companies follow. They would first put it into collections, then sell it to a collection agency. That is way to low for even a collection agency to take you to court. The original creditor will just write it off. You have nothing to worry about unless you get a summons to go to court, which I gurantee that will not happen.
Is it possible to go outside the country even if you have an unpaid credit card account?
Unpaid credit cards won't effect your ability to travel. If left unpaid, they will be charged off and likely assigned or sold to a collections agency. The collections agency will continue to attempt collections, and your credit will be impacted negatively for seven years.
What should you pay off first a credit card or a collections debt?
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. :)
Can a credit card debt that was charged off and sold to a collection agency be reported on your credit report?
Yes.
If a Credit card company wrote off the debt and took a tax credit 4 full unpaid debt what legal rights does the credit card have in transferring rights to a collection agency?
Credit card companies win whether you paid or not. They write-off the credit card debt at the end of the year on their taxes, they also hedge their burden for increase risk by having insurance so they recover some of your losses from your default and they can sell their uncollectable debt to a third party (collection agencies). What rights do you have? The Fair Debt Collections Act. Your debt is with the original creditor (Credit Card Company) and not the collection agency any money you pay should be to the original creditor.
Does the interest and finance charge stop each month after a credit card charge off?
No - I am a collector and service primarily unsecured credit card debt. Per the cardholder agreement that was signed with the credit card company, the account holder is often liable for a LARGER interest rate after an account goes into collections. This may not always be the case, but I rarely see credit card collections that have interest rates lower than 18%. Finance charges are not often applicable when the tradeline has been closed and charged off into collections.
What methods can a creditor take to make you pay the difference after a repossession?
They will most likely send your account to a collections agency. Intrest will still accrue as will phone calls, letters from the agency. This can damage your credit score and credit report. Your best bet is to pay whatever it is off as soon as possible. They will most likely send your account to a collections agency. This can damage your credit report and score. Your best bet it to pay whatever it is off immediatly.
Where can I apply for a credit card?
Credit agency's often have quizzes which will match you to a card suitable for you. Your first card will tend to have a high APR and so it's important for you to pay off the balance every month.
If a credit card does a charge-off and sends it to a collection agency can the original creditor still try to collect?
yes
If you settled a charged off account with a collections agency for less than the full amount can they resell the difference to another agency?
Yes unfortunately they can. Companies today want the charged off account money and will sell it to another agency in order to get this. It will show up on your credit report under another company...so you have 2 listings on your credit report for the original account.
You received a summons for a credit card bill can your wages be garnished if you do not answer the summons can your wages be garnished if you go to court and still don't pay the balance?
Well there are a variety of things that happens when you don't pay a credit card bill. Your interest goes sky high, and your balance will become huge, they cut you off, your reported to the credit agency/ bureau and collections agency. Yes they can garnish your wages if that is an option for them. You can go to court, there may be jail depending on circumstances. In the end your credit will be ruined. The only circumstance that would bring "Jail" into the equation is if you stole the credit card, or some other form of identity theft. There is NO debtor's prison in the United States!
Can you write off credit card interest on your taxes?
Is there a way to write off credit card interest on corparation credit card?
Can Wages be garnished over a 1200.00 Credit Card Debt?
It is not going to happen. There is a process that these companies follow. They would first put it into collections, then sell it to a collection agency. That is way to low for even a collection agency to take you to court. The original creditor will just write it off. You have nothing to worry about unless you get a summons to go to court, which I gurantee that will not happen.
