If you fail to pay the minimum for 6 or more months you would be looking at jail time in most cases.
No, it is not possible to transfer credit card debt to another person. Each individual is responsible for their own credit card debt and cannot transfer it to someone else.
No, it is generally not possible to transfer credit card debt to another person. Each individual is responsible for their own credit card debt and cannot transfer it to someone else.
It does not. The debt belongs to the deceased. If the estate cannot settle the account, the credit card company is not going to get 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.
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You'll be in prison.
No, it is not possible to transfer credit card debt to another person. Each individual is responsible for their own credit card debt and cannot transfer it to someone else.
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.
No, it is generally not possible to transfer credit card debt to another person. Each individual is responsible for their own credit card debt and cannot transfer it to someone else.
It does not. The debt belongs to the deceased. If the estate cannot settle the account, the credit card company is not going to get paid.
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.
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.
No they cannot
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If a bank fails, credit card debt is typically still owed by the cardholder to the bank or to a new entity that acquires the debt. The debt does not disappear just because the bank fails.
It can be very difficult to clear up credit card debt. Therefore, you may need to borrow money from your parents if you have to just to get out of credit card debt. If that is not applicable, then you must watch out your own spending and make sure that there is absolutely nothing that you do not actually need. Apply for financial help is you cannot pay tuition because of the credit card debt.
Only the card expires, not the line of credit it is attached to. So interest will still accrue on the unpaid debt.