my cousin worked abroad & terminated 3 yrs ago, so he did'nt or he did not paid (im not sure) his credit card... & now, he feels like he wanted to go back again to that country so he's asking if the bank will chase him, once he landed there... pls answer..
2006-12-02 20:06:09 · 2 answers · asked by SKY0612 2 in Business & Finance ➔ Credit
well they wont know if he is in or out of the country.. I dont know how other countries work, but in USA, anytime you are employed, your employer files a tax report and adds all employes social security numbers on it also when they give you your pay check, at the end of the year, they file that with the IRS... so credit card companies get a report from the Credit bureau service I think 4 times a year which all creditors report your credit standing to.. the company can track if you are employed and what address you gave employer.. If the address is wrong and they cant reach you, then they file a claim against you and you might get your wages garnished till the debt is paid off.
2006-12-02 20:10:55 · answer #1 · answered by Mintee 7 · 0⤊ 0⤋
they will not chase him because the interest on that credit card is still mounting up, some of the credit cards have high % of interest
2006-12-02 22:17:38 · answer #2 · answered by Wicked 7 · 0⤊ 0⤋