 Pre-Approved Credit Cards? |
| I’ve been wanting to get a CC for a little while but I had a mark on my credit 3 years ago, I paid off the debt in full but of course it haunts me still. I’ve applied for one CC and was denied, ... |
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 I need a $2000 loan. Any help? |
| i have good credit but it's new. I just started establishing it. So banks deny me for a claim. do you kjnow any good places to get large personal loans?... |
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 My first credit card tips? |
whats the best way to raise the so called "credit score"?
paying the minumum every month vs paying the balance off immediately?
does the amount you charge matter?
and any ... |
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 What's the best credit card for a college student? |
| I dont wanna go into debt and i want a small limit. i would really appreciate any help.... |
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 Please How Can I get a personal loan for Bad Credit in Canada? |
| hi actually I have a bad credit score and I'm in need for $5000 to pay off my creditors so I can improve my credit score. I tried reasoning with my creditors to pay the money that I owe them in ... |
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 I need a £10000 unsecured loan fast,as in this week.any suggestions? |
| my credit score is ok but not great but i need to get my hands on this money fast without too much fussing about with forms and phone calls.... |
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 How long does it take to clear a Bankrupcy? |
Hey there, I declared bankrupcy in 2004 how long will it clear ..meaning out of your credit history ?? I heard 7 years and also 10 years ..does anyone know? THANKS
Additional Details
OOP... |
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| Does anyone know how i can go about consolidating my debt? |
| i have bills i owe and some that went to collections.. i want to clean my credit and so i want to consolidate my debt (where they put all your debt together and combine them in one payment) and i can ... |
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 If you had cash would you payoff your car loans or would you use the money for other things? |
| I currently have two car's and I have a combined loan for them with with a low interest rate. If you had just enough money to pay the loan off would you or would you use the money for home ... |
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 Can creditors withdrawl money from my account? |
| Last week, I received a call from a collection's agency, Nelson & Watson. I owe them money from 8 years ago and I know it's my responsibility to repay it, but I'm a college student ... |
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 A credit question? |
| I am in the process of repairing my credit report on my own. I have paid off 3 accounts listed on my credit reports this year. I noticed that everyone saying that one cannot remove negative items ... |
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perfectlybaked | Are you criminally liable for defaulting on a credit card bill? |
On my one credit card with a $10,500 limit, I missed a payment and the interest rate alone made me over the credit limit. Without moving in with parents I wouldn't have been able to get it paid. Are you criminally liable if you use up all of that credit to buy stuff for yourself, then totally disown the payment? I mean, if it's just a matter of 7 years and a person knows they won't need credit between now and then, how is it that nobody does this on purpose?
Additional Details
What I'm asking is... is there any way a credit card company can take away your house, or send you to jail for deliberately using up their credit and then just not paying? |
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Gary
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First thing first....you will not go to jail because of credit card debt. It's not against the law for not paying it back. The only thing you violated are the terms of a contract when you applied for this card.
Secondly, your house cannot not be taken away from you. Your home is a secured debt. Credit cards are unsecured debt.
You have to pay the credit card or at least start making the payments. The worst thing that can happen to you is if you ignore the credit card payments, you will receive a summon to court by the credit card company or a collection agency. If they win, they can place a judgment on you. So if you try to sell your house, whatever proceed you get from the sale after you pay off your mortgage will go to the judgment.
Get it taken care of right now! Sell some stuff, cut up your card, stop eating out, and get on a budget! |
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SlimMick
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There are no debtor's prisons in this nation...one of the reason's we broke away from England. Worst case: they file a lawsuit and garnish your wages....This process takes a lot of time and cannot be done at the drop of a hat. They usually won't do this until you are way past due....like six months.. |
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LITTLE_JOHN
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no.........that a civil matter |
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Michael B
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The credit company will take you to court and win and then you will have to pay them anyway so call them and make a deal to restart paying. |
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Emily
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Dignity. |
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shorty247
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You're not criminally liable - debt is a strictly civil matter. Debtor's prison is a thing of the past.
Why don't more people do it? Because seven years is a long time to go with bad credit and screening incoming calls because the credit card company's calling every day.
That's seven years that you'd have trouble renting apartments, pay deposits when you sign utilities contracts, and be denied loans or be charged a ridiculous interest rate. And some employers look at credit scores of prospective employees. Oh, and there's the repo man.
If the only issue is the missed payment and the higher interest rate, call the credit card company and see if you can get it lowered. It's often just a matter of asking. The worst thing that'll happen is that they say no.
Failing that, ask to see if you can get on a payment plan - many credit companies will lower the interest rate for a set period if you agree to make automatic payments from your checking account. |
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Aspen Dreamer
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I would think you will be responsible for that debt forever till you can prove it is either not yours or you can't pay...
I think the credit card company can sue you for damages...
I however, got out of my debt by filing bankruptcy, because I was out of work on disability leave and couldn't possibly pay...
I ended up totally disabled from my surgery, and I did get to write off all my debts...
I had to show proof of this through my doctors statements and through x-rays...
So it is easy to prove if you can document everything...
You can't fake a surgery or body problems...
I do have bad credit now though, but I don't owe all that $$$... |
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mark c
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they can't put you in a jail....but if you have house they can sue you... after all it will cost them more money to take leagal action. about 7 year thing... it can take longer if they keep selling your collection account. |
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BALUGA-TY for votes glad I help
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actually I don't think you want to do that as it can hinder future employment opportunities, ability to have utilities in your name, flag any bank account. The laws are different with checking accounts but if you bounce a chk for more than 299.99 intentionally, it is a federal offense. 10,000 is excessive and there could be significant undesireable ramifications, and consumers and your collegues inevitably pay for your irresponsability- many credit card companies can lump sum settle at a lower amount. I can guarantee if you don't pay it you will be sued - because of the high amt of debt - if you are not legally findable statue of limitation is not applicable - time would begin the moment you are findable - ligit license adress, med bill, utility bill, city census, college reg are all example which consider you findable |
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Ne-yo N
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yes in india it is!!! i dont know bout U.S |
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toetagme
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You are not criminally liable. But morally and legally you are liable. They will take great measures to collect the money you owe them. You should notify them that you are not paying outrageous fees and what should be illegal interest but you will pay for your purchases. Then make monthly payments on what you owe. and refuse to pay their huge extra fees. |
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mule0331
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The 7 year thing is wrong. The 7 year thing comes in when the item being reported on is closed, or inactive. Like if you declare bankruptcy, and it is written off. But if the account is still open, they can report on it for the entire time it's open, regardless if it's past 7 years. |
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just me
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It's fraud,it's illegal and you go to jail. If you charged it you owe it. Pay it. By the way, people do do it on purpose, they are the ones in jail. |
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dust s
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i dont keep ceadet cards |
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