Can Credit Card Companies Sue You?
Can credit card companies sue you for non-payment? What are the legal issues involved with credit card debt and possible lawsuits regarding credit card companies?
Yes. Credit card debt is usually considered unsecured debt. But there are many instances when a credit card company can sue ~ Misuse of card per terms and agreements, fraud, charging on card knowing payment is not possible, using someone else's card, applying/using card under false name or social security number ~ The list of reasons a credit card company can sue is endless.
It is possible for a credit card company to sue you but it depends on a few factors including how late you are, the state you live in, and so on.
The problem with credit card debt is if it becomes a prolonged issue of non payment the company can place a judgement against you which then becomes a legal matter in which they can garnish your wages, seize your bank accounts. Credit card debt is not something to take lightly if you are well behind
There are several options to take care of past due balances and dont let them tell you that there isnt any!!
by Gary Anderson 8 years ago
I just wrote a hub on this, but what I want is to have a discussion here. This is the issue: the senate voted on 5/19 to forbid the states from setting caps on interest rates for credit cards. The injustice of this is that the state in which the credit cards are issued, namely South Dakota and...
by Rajinder Soni 6 years ago
What to do of a friend who is running from credit card companies?He is changing numbers but is available at facebOok
by Laura Deibel 7 years ago
Why do credit card companies get info protected by HIPAA?I would sure like to know why credit card companies down your rating when you are hospitalized when HIPAA is supposed to protect that information. Anyone?
by Luciendasky 9 years ago
I just saw on the news that some credit card companies are going to start researching their customer's spending habits and adjust their credit depending on what they think is happening in the customer's life. For example, if you spend money at higher-priced stores and then go shopping at a cheaper...
by Joe Sellers 8 years ago
The credit card companies are raising the interest on people that have never missed a payment or even been late. The are also lowering the credit line and charging over limit fees if the card ends up higher then the new limit. Has this happened to you?
by Lizam1 6 years ago
Do credit card companies and credit rating agencies hold too much power?Why has society/government allowed our lives to become "ruled" by credit and credit ratings companies. Try to book anything these days without a credit card and you are doomed. The credit rating agency can...
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