 Does credit card debt add interest if unpaid? |
I had a credit card over 5 years ago that I used and only paid less than 10% of it back. I completely set it aside and forgot about it.
Let'd say my debt was $1000. Now, 5 years ... |
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 Old roommie opened credit card in my name? |
| Long story short, I checked my credit yesterday for the first time in years, and noticed a closed American Express card that is at collections. Shock to me! In researching, found out that my ex-... |
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 Why is there a payment due on my Discover Card that I haven't used in a long time? |
| I haven't been using this card lately. I don't know why there's a payment due when i didn't even buy anything with the card.... |
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 So what can "they" do to me if I quit paying my credit cards in the state of Tx? |
do to the fact i can no longer afford to pay them.
Additional Details
not that i want to quit. I borrowed the money by using the credit card therefore i should pay it back. but things ... |
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 I am way over my head in credit card debt, like $24K. Is there hope for me for bankruptcy (see details)? |
| Because of medication that I'm required to take and have been on since 1999, since I have no medical insurance, I've had to continually throw the costs of meds on credit cards. I'm ... |
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 Statute of Limitations for student loans? |
| I have a student loan, part of it is provincal and the other is federal is there a statute of limitaions on these loans. They reported on my credit buera but have come off because it has been 7 ... |
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 Co-sign a car, will they check my credit and other things? |
| If i co-sign a car loan for my friend, will they check my credit (employment and all the stuff), and also do I need to provide all employment history and stuff?... |
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 Do Americans spend more money using credit cards or cash? |
| I heard that if you pay for everything with a credit card, you end up spending 12-18% more. Is that true? Please include sources if at all possible.... |
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 Credit cards???? |
| If you have a credit card and do not use it to purchase anything do you still get a mnthly statement looking for payment or anything?... |
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 I have applied for a loan but the company want me to pay a brokers fee first, I have come accross this before? |
| The company want me to send a cheque for £39.99 and they say the loan is provisional - anyone else come accross this and is it genuine or a rip off ?... |
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 I can't pay my bills for the first time ever. What will happen to me.? |
| I lost my job two months ago and have only found odd jobs since. Im in college full time and have a car payment, 5 credit cards (havent used any for 3 years), phone, rent. No parents to support or ... |
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 What is the best way to fight a collection agency? |
| I am disputing a bill with a collection agency. Even though I have informed them that the bill is incorrect 3 times, they still have reported me to the 3 credit bureaus as being late. What good is ... |
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 Im 17 years old and i was wondering what should i do to get GREAT credit ? i dont want bad credit. lol? |
| Plus i want to get a GOOD credit card when im 18 or older. but i dont know what i should do to start building the credit. i dont know how all of this works. ... |
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mz_deep | If someone cosigns on your vehicle and you don't pay the loan can the bank file charges on both parties? |
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ginabgood1
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Yes. A co-signer is a person who is legally responsible for the debt in the instance that it is not being paid by the original debtor. If the debtor does not make the payments, this affects the credit of both parties, which is why it is an extremely bad idea to co-sign a loan for anyone unless you make an agreement whereby the co-signer gets the money and makes the payment himself or herself, thereby making sure the debt is paid and credit is not affected. |
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Michael F
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yes. thats the purpose of a cosigner. they are the person the bank goes after when the primary signer defaults on the loan. A good rule of thumb is to never cosign for anyone ever. Especially family. |
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madamspud
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Yes because the co-signer is as responsible for the loan as you are. |
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Spoiled
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Yes, you are both responsible. It will hurt your credit as well as the co-signers |
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Brownie
 |
Your co-signer is your back-up. They are saying that if you don't pay, the loan originator has the right to come to them for the balance owed. |
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John Stamos
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Yes, both parties are responsible. The reason the bank let the other person co-sign on the loan is because they had a better credit report and were more likely to be able to pay it back.
The bank wants their money and will go after each and every person on the note until it is satisfied. |
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Marcella D
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Yes and it will go on both crediy reports. |
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Thunderklese
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It's a sure thing that they will. |
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sexytrojan
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Yes. Don't let anyone put you in that situation, family or not. |
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2012
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yes, happened to my boyfriend |
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capnemo
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They can and they will. If the bank takes the car back, they will sell it for whatever they can get and you and/or the co-signer will have to pay the difference. The best thing for you to do is pay for it now or you'll be paying for it later and you won't even have it. |
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