Question: Who is responsible for your credit card debt after you die?

Answer: The credit card company will first try to collect from the estate (assets will be sold to pay the bills). Then, if the account was a joint account, any survivors will be left holding the bag. If the debt belonged solely to the deceased, then the credit ca

Question: What will happen if you do not pay your credit cards?

Answer: They CAN NOT sue you over credit card debt. If a couple of years have passed on a certain debt call up the company and ask for all paper work showing how they reached the figure they have. If a company or private firm can not produce this information you

Question: What should a letter to close a credit card account include?

Answer: First, checking your credit score counts as a SOFT inquiry, which has a remotely adverse affect on your credit after like 100 times. And when I say remotely, I mean 1 point. You don't need to write out a letter, just call them and tell them you would like

Question: How do you report credit card fraud?

Answer: If you lose your credit card or if you realize it's been lost or stolen, immediately call the issuer. Many companies have toll-free numbers and 24-hour service to deal with such emergencies. By law, once you report the loss or theft, you have no further r

Question: Can you get a credit card without a Social Security number?

Answer: In the US, banks and the institutions backing department store credit cards require Social Security numbers; this is the only way to reference previous credit history (this may not apply to Canadian citizens). As for a secured credit card, an institutio

Question: What happens if a person dies and has lots of credit card debt left?

Answer: So what happens to the debts of someone who dies? The credit card company will first try to collect from the estate. As mentioned earlier, assets will be sold to pay the bills. Then, if the account was a joint account any survivors will be left holding th

Question: Can credit card companies garnish your wages or take away your house?

Answer: Yes they can, but there are so many factors that must be in order before they can do that. For example, they must consider the balance of the account, if your bank account is a joint account, the laws of the state which you live, etc. They have procedures

Question: How is your balance calculated to figure out the finance charge?

Answer: Examples of computation methods include the following: This is the most common credit card balance calculation method. It credits your account from the day payment is received by the issuer. To figure the balance due, the issuer totals the beginning b

Question: Should you close credit card accounts that you are not using?

Answer: To ward off fraud, yes, you should. Most companies don't penalize you for closing and you should be able to reopen the account at a later time if you decide. I would just call the credit card co. and ask their policies, but working for a credit co. in the

Question: Will settling a credit card debt hurt your credit?

Answer: Yes, it could. Although credit card companies may encourage you to settle your debt with the help of a credit counseling service or a debt repayment plan, as an alternative to bankruptcy (where they may get nothing), this step would still become part of