what can the bank do if a credit card goes unpaid
2006-12-29 02:39:00 · 7 answers · asked by Anonymous in Business & Finance ➔ Credit
Well for one ruin your credit. They can report the continued nonpayment. Depending on the size of the debt, they could do many things from a legal point of view.
2006-12-29 02:43:05 · answer #1 · answered by mackjcsf 2 · 0⤊ 0⤋
Eventually this problem could prevent you from getting a school loan, buying a car, buying a house and prevent you from getting another credit card. You will lose financial trust I guess I am trying to say.
2006-12-29 02:49:21 · answer #2 · answered by HeartOfGlass 4 · 0⤊ 0⤋
First they will send you to a collection agency then after 30 days if no payment is made they can send you to a collection agency.
2006-12-29 02:45:49 · answer #3 · answered by Marcella D 2 · 0⤊ 0⤋
It will effect your credit score
2006-12-29 02:45:24 · answer #4 · answered by Silver Fox 3 · 0⤊ 0⤋
I dont know what state you are in but im in texas and they can,t do anything.texas is a debters paradise,they cannot take your wages or do anything to you....but im not sure what state you are in.
2006-12-29 02:48:45 · answer #5 · answered by slickcut 5 · 0⤊ 1⤋
destroy your credit score, for one.
2006-12-29 02:42:35 · answer #6 · answered by LoriBeth 6 · 0⤊ 0⤋
sue you and garnish your wages
2006-12-30 17:09:52 · answer #7 · answered by luciousgreeneyedlady 5 · 0⤊ 0⤋