I already have one through my bank, but I'm going to close it. I'm only 20 and as you all know its hard to establish credit. My Credit score is a 690.. which is fair, so why do people with ...
I left my job in Dec had no money coming in for a little while the bank decided to up my overdraft limit. Which has now thrown me into debt as I now have a overdraft limit of nearly £1000 i get paid ...
credit card. The reason i asked was because i want to buy a few things over the net but they only want credit card users. I have a debit card but this isn't much ...
i have a special under 16 debit card from natwest but scared to use a atm because i think people will stare at me, should i go for it or only go when no-one is around? Additional Details ...
Am I responsible for my husbands credit cards if they are not in my name? I just discovered that he is $23,000 in credit card debit. He didn't tell me, I found the bills hidden in his desk ...
I was told today by the credit card company attorney that they could take money from my bank account i recieve child support by direct deposit, and that is my sole source of income . Can they do that ...
Im trying to build up my credit history but ive tried about 5 credit card and non approved me. i even tried a credit card that says it will approve credit for people with "Fair Credit". im 1...
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 ...
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 ...
larsonpam68
What happens when my credit card company goes bankrupt?
The money that you and other people owe the credit card company is an asset. Those assets will be sold to another CC co or bank in bankruptcy court. They will go to the highest bidder.
Even if your CC co goes BK, you still have to make your payments. Their bankruptcy doesn't absolve you of the debt.
majorktm
dont worry,they still want your money
denverlmc
Guess your line of credit is finished. Really, what happens will depend on the type of bankruptcy they filed for.
IcyKold
The account (if you carry a balance) will be sold as a receivable. However, it will convert to a closed-end loan. Thus, no more using the card. Reason being the first 6 digits on the card are the BIN, Bank Identification Number. Visa/MC's systems will not function properly if one bank is managing cards issued with multiple BIN's. Even worse, the system would melt down if one BIN was used by multiple banks. The entire routing of transaction information to move money needs this one-to-one relationship.
Someguyinworld
very unlikely
credit card will be useless, the month's spent amount will still be charged
Amr S
congratulatons you now can beg
wooman
It won't. Another company will buy it and come looking for what you owe tham.
Ann
Usually you might go bankrupt. Just what I heard.
brutally-honest
You die.
You crash. Mentally, Philosophically, Physically.
Sucks to be you.
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