 Can you have more than one credit card? |
| as in..more than one kind of visa or mastercard..or any ... |
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 Bankruptcy vs. Paying it off? |
| My husband and I make about $32,000 a year, and not including my car, have about $10,000 worth of credit card and medical debt. All of these accounts are closed, charged off, and in the hands of ... |
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 Is this a good way to build good credit? |
| I have absoulutely NO credit history so I went to american express and applied for the AMEX Green Rewards Card which is a charge card with no preset spending limit and I got accepted and the card is ... |
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 How can i get a consolidation loan to pay off all debts when i have bad credit rating? |
| I HAVE TRIED MOST PLACES FOR A LOAN TO PAY OFF DEBTS AND MAKE MONTHLY OUTGOINGS LOWER.BUT BECAUSE I AM CURRENTLY A HOUSEWIFE,AND DO NOT WANT IT TO BE A JOINT APPLICATION NO ONE WILL EXCEPT ME.OH AND I... |
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 300 pound debt? |
| My friend don't want to pay to the phone company (about 300 pound) cause he is going leave UK soon and probebly never come back. The phone company keep calling and send him letters. Plus,they ... |
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 Can I be arrested for not paying my credit card debt?!?!? |
| I'm 21 + a single mom. I got a Chase credit card 2 years ago with a limit of $300. I used it up, but never went over my limit. I was enrolled in a payment protection plan with the card, I lost ... |
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 Is it BAD to pay my credit cards off in one lump sum?? |
I was told that it could be bad for your credit score to pay off your credit cards all at once - Is this true? If so, how BAD could it hurt my score & for how long?
I am about $15K in ... |
|
 How is American Express different from Visa or Mastercard? |
| I'm considering switching from Visa to American Express, because they are offering me a much better APR. I'm wondering if it's worth the switch. I'm slightly confused on the ... |
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 I gots a question to axe .. why come I losin my house? |
honey .. tell your momma I needs to move in wit her. Da bank comin to kicks me outta my house. I gots so many bills, who gonna pay my automobills ! I mean SHOEZ
I be goin to walmark to ... |
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 HELP ME PLEASE ? Its Urgent? |
| I have a credit card dispute with icici bank india .On the same hand i also have a saving account with icici bank. the bank has withdraw money from my account without taking any authorization from me ... |
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 Car reposessed today after just recieving notice of delinquency yesterday. How do I get the car back? |
| My fiance' works offshore on an oil platform, usually if he cannot make thepayment over the phone, he will call and I will do it. However, he has been out for over two months, and just returned ... |
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problemboy | Can i go to jail if i can't pay my credit card bills? |
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albo888888
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No, being in debt is purely a civil matter.
I agree with Studly about KittyKid. |
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melvinschmugmeier
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no, we no longer have debtors prison. you can be forced into bankrupcy or have wages garnished to cover your debts, but that's about the extent of it. |
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iamookae
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no, but you will have debt collectors bothering you for a while.
if your debt gets sent to collection, than a lot of times you can offer them a pay off of 50 percent of what you owe, and they will settle. then you only have to pay 50 percent, and they don't call you again!!!!
when you don't pay your credit cards, the company doesn't lose any money at all. they turn over your account to a debt collector, and then they write off the amount that you owe in taxes, so they get it ALL back. the debt collector will take a portion of the amount, because any money that they get is essentially money earned. |
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MrCool1978
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Depends on the law of your State as well as if your stuff gets repossessed or not. |
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kittykid
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It wouldn't be something like repentently volunteering by yourself, to 'go to jail' !
A court which finds you guilty, and also in NO position to clear even a fraction of your dues, could sentence that you be SENT to prison, and kept confined over there - for a period that is commensurate with the losses that you have caused to the Credit Card company ! |
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sweetie_barbar
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No. But you would have bad credit records. This might hurt chances of securing a bank debt or loan or mortgage. |
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Studly
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You will not go to jail.
KittyKid is a moron. And what heck does "commensurate" mean? (...looks for dictionary...)
Collection agents love to tell people this......and if they are caught saying it you can sue them right back! So ignore any of the nonsense some of the answer posters said, you can not be put in jail, ok?
So what can/will they do? Without more details about your situation I can't be of much help.
It's always possible to negotiate a settlement with the credit card company. Remember to get a signed agreement of whatever you decide on, and make them promise to remove any negative report on your history.
Below is a sample negotiation letter that can guide you.
If there is absolutely no way you can pay, then get prepared to battle the creditors. Read the links below, get armed, and be ready for the next step.
You can expect that they will send a report of this to the credit agencies, and it will effect your credit score. Not much you will be able to do about it.
They generally will not sue you if the amount is under $500. They will write off the debt, so all you have to deal with is bad credit.
If more then that, they will sue you in small claims court. Each state has differant laws and procedures, so do a Yahoo search and get information about your local court rules.
If they win (they probably will), they have to figure out how to collect. They can either garnish your wages (if you have a job or income), attack your bank accounts (if they know where they are and you have money in them), or go after property like cars. Each of these remedies cost them money and expenses, not to mention lawyer fees. For that reason, they usually won't go after you for small debts.
If you need more help or encouragement, contact me. |
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Simcha A
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ONLY IF THEY TAKR U TO CORT AND U LOSE AND U CANT PAY IT |
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skinnywayne
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no, you will just get bankrupcy and will not have any credit cards for a long time, which in most cases is a good thing :) |
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ColorfuLady
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No. |
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jmj1096
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No you can't go to jail. But the companies can file a judgement against you which will go on your credit report and could even result ina garnishment of wages.. I'd recommend calling a credit couseling agency, one that is non-profit. They can help you get into a payment plan and get reduced interest and stop the collection calls. It will go on the credit report that you did this and may effect your rating but not as bad as not paying would. |
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