In short, they%26#039;ll hassle you forever and make your life hell until you will want to pay your debt so as to regain some sort of peace back in your life. Nice uh?
By using services from a debt relief organization you will stop receiving phone calls asking you for money. You will pay a fixed rate amount every month which will never go up. You won%26#039;t be dealing with your creditors any more. The %26quot;debt relief people%26quot; will be paying your bills for you, and your credit card company is out.
You then pay the debt relief company.
lots more here:
http://credit-cards.ebookorama.com
http://finance.ebookorama.com
http://credit.ebookorama.com
http://credit-repair.ebookorama.com
good luck!
Can%26#039;t pay credit card debt. What can the card company do???
Enter a judgement against you and seize assets.
Can%26#039;t pay credit card debt. What can the card company do???
take everything you got
Can%26#039;t pay credit card debt. What can the card company do???
take you to court file judgment against you attempt to garnishee you wages
Can%26#039;t pay credit card debt. What can the card company do???
Put a lein against your property as well as mess up your credit rating. Try a credit counseling service before you just stop paying..
Can%26#039;t pay credit card debt. What can the card company do???
Have you called them? Can you negotiate a lower payment until times get better? Maybe you can make just interest payments? Call them and talk to them you might just be surprised at how helpful they can be. And it wont ruin your credit! Also many local banks have financial help for people in your position call them ask about debt help. You could also transfer some of the debt to another card to lower the payments.
Can%26#039;t pay credit card debt. What can the card company do???
Sue you until you pay up. If you%26#039;re really in dire straights, I would suggest calling one of those debt-consolidation places... most of them will, for a small fee, get your creditors to stop calling you and reduce your interest and then get you a smaller, more manageable monthly payment for all of your debts.
Can%26#039;t pay credit card debt. What can the card company do???
They can take you to court there getting a judgement against you and having the legal system allow them to attache your wages or possible take assets from you to settle the debt.
Can%26#039;t pay credit card debt. What can the card company do???
Seize your property, garnish your wages, pretty much F$%K you right up the @^s. Though they have to take you to court first.
Can%26#039;t pay credit card debt. What can the card company do???
You need to contact them as soon as possible.
It will be easier on you if you show a willingness to pay, even a small amount.
This will usually stop them from taking you to court.
If you come to an agreement with them do not break it, this will get them seriously ticked off and the next step would be court and bailiffs (UK)
Can%26#039;t pay credit card debt. What can the card company do???
In Texas, they can%26#039;t take anything from you, but they will pursue you until they feel it is not time-worthy. They will then sell it to a collector, who will call persistently and mail offers to allow you to pay the debt at a reduced rate. You can opt not to do anything, and eventually it will get sold to a different collector, or go away. Either way it will severely affect your credit score that will take a while, not to mention a lot of perseverance on your part, to rectify. Learn to be more responsible with you money and you won%26#039;t have to worry.
Can%26#039;t pay credit card debt. What can the card company do???
Not a whole lot. They can eventually seek a judgement against you for repayment for a portion of what you owe, depending on the level of debt. They cannot seize assets as credit card debt is an unsecured debt, unlike a mortgage or car loan. If you cannot afford to make 100% of your monthlies, I would suggest contact them, explain your situation and make a portion of the payments. Once you catch up, they will be happy to extend full credit to you again...that%26#039;s how they make their money.
Can%26#039;t pay credit card debt. What can the card company do???
Debtxs.com
My roommate used them.
They assign a credit counselor to you to communicate with the credit card companies. Ask them what the step-by-step process involves. You have to pay taxes on the paid debt.
Can%26#039;t pay credit card debt. What can the card company do???
collection and make sure you tell them to get in line.
Can%26#039;t pay credit card debt. What can the card company do???
Credit card debt is unsecured.
That means there are no assets pledged as collateral for the debt.
That means ALL THE PEOPLE THAT SAY THEY WILL SEIZE YOUR PROPERTY ARE WRONG!. Please ignore those wrong answers.
If you default on a credit card debt it will ruin your credit. This will make it more difficult and more expensive to get credit it the future. A poor credit rating will also increase the cost of your auto insurance. Many employers pull a credit report on applicants, so a poor credit rating can make it difficult to get a job.
Can%26#039;t pay credit card debt. What can the card company do???
They would send the statement pretty much in Regular Interval.
The amount due double and tribles and multiplies on its own wish.Then one day the card company would enquire you. You can say that this is the amount that i will be able to pay nothing much than that. That is Final Settlement. At times some Card Companies also send in some Rowdies too for collection.
So its in your hand or you can go to court if the amount is too much to bare. If in case of nonpossibilities of Final Settlement.If your are getting Final Settlement never forget to get the Final Settlement Letter.
Can%26#039;t pay credit card debt. What can the card company do???
Credit Card companies are not ging to take you to court, so forget that nonsense. Won%26#039;t happen! They will write off the bad debt (which they need bad debts anyway) turn your account over to a sleazy collection company who in turn will attempt to drive you insane IF they have good phone numbers. It will naturally hurt your credit, but you already know that. The best approach is to contact the credit card company and tell them you can pay 20.00 or more a month until the debt is paid off. Any attempt on your part to repay a loan cannot be dismissed. If you ever went to a court a Judge would determine what you could afford to pay and make a ruling that way. But court is not going to happen. Fly below the radar if you want to throw the towel in and not pay anything.
Can%26#039;t pay credit card debt. What can the card company do???
Most likely they will hound you until you pay then they will send it to collections who in turn will enter a judgement against you. If you go to court over it they will garnish your wages to whatever amount they see fit to make the debt clear. My b/f didn%26#039;t even make it to court, they just started the garnishes after he was informed by telegram from the court that it was in judgement for deliquency (thanks to his ex-wife, but that%26#039;s another story). If you can%26#039;t afford what they are asking you to pay, see a finacial advisor but be careful, they can%26#039;t always make the payments any lower than what the company is asking for. Contact the card company before it goes to collections, you may be able to work something out with them. If it goes to collections, you don%26#039;t have much to work for as they want the money yesterday. Good luck.
Can%26#039;t pay credit card debt. What can the card company do???
They will keep calling and sending you letters until you pay it.
My advice to you would be just try to talk to them and tell them your situation and ask them about a monthly payment plan. Good Luck!
Can%26#039;t pay credit card debt. What can the card company do???
Another batch of totally crappy answers!
OK, lets pick bookbyte%26#039;s answer this time. Do you have a source of this information? There may be a state or two that prevents property seizure for credit card debts, but I can certainly assure you that most states allow it. Check out any of the state laws and you will find it fairly quickly.
kam_1261, you too are wrong. I%26#039;ve been in court and seen more then enough cases to know this for a fact.
The key is whether they will sue you or not. From my observations, if your debt is under $500 you are fairly safe from a lawsuit. It%26#039;s not enough to justify the time and energy of the collection agent.
If the collection agency has an office close to you, that increase the likelyhood of a lawsuit. Since they generally are in court most of the time anyway, it%26#039;s much easier. The judge usually clumps their cases together so the lawyer is in court only one time for several cases.
On the other hand, the collection agent is not going to spend a lot of money hiring an outside agency or collection attorney if you live in a differant state. In those cases you may be safe up to around $2000. Over that it%26#039;s worth their time.
Generally, for small amounts they are content to trash your credit history.
Can%26#039;t pay credit card debt. What can the card company do???
I found myself in your situation about 4 years ago. I had about $8,000 in credit card debt. I had goten pregnant and lsot my job when i had just started establishing my credit. Here si what they will do
1- call yuo a million times to resolve the debt
2- after a few months of attempt to collect- they will send it to ca collection agency
3- by this time your account will be charged off and thus appear in your credit report as charged off due to non-payment
4- the collecting agency will send you a million letters for you to either pay the ammount in full, make mayment arrangemetns or settle the debt.
5- By this time- if your account was for example $1,000 it will go up about $40-$80/year depending on the percentage you have
That%26#039;s all they can do. By the time it gets to a collections agency- they will call you and threaten to file a small claims against you. Trust me- they won%26#039;t do this! they won%26#039;t take their time to do it so they%26#039;d rather you seetle or at least make payment arrangements. Settleing is the worst you can do unless the debt is way out of your hands. In my sutiation a debt of a $1,000 debt i had I paid off in 4 payments until it was paid in full. It really the longer is stays in your credit the lower your credit score will go. Try to pay your debts off little by little. TV announcements have company%26#039;s that do debt consilidation and are able to lower your debt%26#039;s APR but- you will finish paying them off in a long time! they tell you that you can make payments of for example $100-$150/Month for a $5,000 debt but- like i said you will take forever for you to pay. Heck- they even include the money they will charge you for it. I suggest you sit down and figure out your budget. Call each credit card company one at a time and make payment arrrangements. IF you can only pay $50-$100 at a time- they will not say no to you because it%26#039;s not like you%26#039;re runnig from the debt you%26#039;re trying to pay it how YOU CAN! Don%26#039;t dispair but tlak to your creditors this will let them know that you CARE about the debt and WANT to pay them off. IF possible before your credit cards get charged off send as much as you can. If you have to get a 2nd job do it but pay it off. What i did was leave my debts without paying for 4 years because i couldn%26#039;t pay them. Now that i%26#039;ve paid off my debts this is what happened. My total debt was $3,450 and went up to $6,500. Why so much?? interest and credit increase. Some of the stuff i had to %26quot;settle%26quot; with but- now that i want to buy a house my %26quot;settlements%26quot; have made my credit look bad. Good luck!
Can%26#039;t pay credit card debt. What can the card company do???
www.incharge.org They will help you out tremendously!!!
Can%26#039;t pay credit card debt. What can the card company do???
if they get a jusgement against you they can attach your pay, or seize assets. Try to pay something, if they see you making an effort they may stay quiet.
Can%26#039;t pay credit card debt. What can the card company do???
Consolidate Credit Card Debt and pay off the debts quickly.
To pay for articles, which cannot be easily robbed or misappropriated, you should use credit cards. Always make the payment before the mentioned date; else your debt will pile up, leading to an unfavorable situation. The credit card debt consolidation loan protects you against spiraling credit card debt. This can be procured by visiting an appropriate website or by approaching creditors close to you. Unsecured debt consolidation is better because you will not forego the initial deposit, even if you happen to miss a payment.
For this purpose always deals with a single creditor, it is safer and more rational. A good creditor will give you low interest rates and you also have to pay a lower installment every month. Credit card debt consolidation also enables you to save on bill paying
