the t.v isn't paid for on my card
2006-11-06 05:02:37 · 10 answers · asked by Anonymous in Politics & Government ➔ Law & Ethics
You will still get bills from the CC company until the balance is paid off. It does not matter if you cancel the card before it registered as a charge.
Same is true if you wrote a check. The bank will keep the account open for several days to confirm there are no outstanding checks. If the check comes in, they will ask you to pay that amount and possibility list it as a bounced check.
2006-11-06 05:09:12 · answer #1 · answered by Wundt 7 · 0⤊ 0⤋
You can't obtain credit specifically with intent on not paying. That's a form of credit card fraud and can get you into serious trouble (i.e. jail and fines). If you've defaulted on a credit card and it gets charged off, you can't go to jail as a means of payback or punishment. You also can't "close" a card that has a remaining balance. You can close the available credit, but you still need to pay the balance before the whole account can be closed.
Also, there is no problem with selling goods purchased with a credit card. It's an unsecured line of credit (or it is secured with a cash deposit). They also cannot repossess goods purchased with a credit card.
2006-11-06 13:16:01 · answer #2 · answered by j 1 · 0⤊ 0⤋
You can't close the card while you have an exsisting balance due...You can "close" your card so you can't make anymore charges but you'll still get a monthly statement notifying you of your current bal and min due...if you don't pay it your account will be sent to collections and reports sent to credit bureaus and eventually leins will be placed on your assests such as homes, land, vehicles....depending where you are and how willing the company is to pursue the money you owe them, your wages may even get garnished....not sure about the jail thing but aren't the other consequences just as bad?
2006-11-06 13:08:46 · answer #3 · answered by mahree 3 · 0⤊ 0⤋
Depends on if you pay off the credit card... :)
If you don't, you cannot "close" the card.
You cannot go to jail for failure to pay it off, but you will still technically owe the card company for the debt and they will still try and collect.
2006-11-06 13:05:35 · answer #4 · answered by kiltboi 3 · 0⤊ 0⤋
They will probably allow you to close the card as in your line of credit will be zero and you won't be able to use it for any future purchases, but you will still have to pay the balance you owe.
To totally close an account yourself, your balance has to be zero.
2006-11-06 13:07:42 · answer #5 · answered by BoomChikkaBoom 6 · 0⤊ 0⤋
You're not going to go to jail, but you're still going to have to pay for it. Just because you close a card doesn't mean you're not still responsible for any amount still owing. You can sell whatever you want... but make sure you pay it.
2006-11-06 13:13:14 · answer #6 · answered by Imani 5 · 0⤊ 0⤋
don't think jail, but it will put a big bad spot on your credit report. Regardless of what you do with the TV you are still required to pay for it. You could buy it then toss it off a cliff....but, you still are expected and legally obligated to pay for it.
2006-11-06 13:05:52 · answer #7 · answered by justforthisonepost 3 · 0⤊ 0⤋
You will still owe the money. They won't send you to jail. But your credit will be damaged and you will still owe the money you spent plus interest until it is paid off or negotiated.
2006-11-06 13:04:45 · answer #8 · answered by Emm 6 · 0⤊ 0⤋
no - you will only ruin your credit. Unles sof course you never want another credit card, or to own a home or car - then go for it
2006-11-06 13:10:26 · answer #9 · answered by autumn 5 · 0⤊ 0⤋
lol, yeah you can come into some trouble. Bless your heart
2006-11-06 13:10:12 · answer #10 · answered by Rock ah About 3 · 0⤊ 0⤋