I just got a notice from the credit card company that due to my bad credit they have canceled my card.
I have a high balance in this card. I tried to keep this card in good shape by paying my bills on time for more than 3 years. Now that they have canceled my card, should I continue to pay the balance?
My credit is already in bad shape? Please note that I have another card with them and I am sure they won't renew that one as well.
2007-07-18 08:51:30 · 7 answers · asked by Anonymous in Business & Finance ➔ Credit
I'd be paying it off if you hope to keep they other one and to have any chance of cleaning up your credit period
2007-07-18 08:55:42 · answer #1 · answered by Mike Frisbee 6 · 0⤊ 0⤋
Yes keep paying on it or your credit will get worse, and they will start calling you and hounding you, possibly eventually taking you to court. An no they cannot garnish your wage or take your home, it was an unsecured card.
2007-07-18 09:13:51 · answer #2 · answered by Pengy 7 · 1⤊ 1⤋
Yes, you HAVE to pay off the balance, it won't go away... trust me! If you don't they will garnish your wages down the road. You still owe your debt.
2007-07-18 08:59:55 · answer #3 · answered by arrianna_vt 4 · 0⤊ 0⤋
I'm pretty sure you need to pay off this balance. If you don't pay it, they can send your closed account to collections. They can take you to court, foreclose on your property, etc.
2007-07-18 08:55:35 · answer #4 · answered by jll1881 3 · 0⤊ 1⤋
same thing happened to me. they cancel it so you don't get in any deeper. if you don't pay they send it to collection.
2007-07-18 08:59:48 · answer #5 · answered by bella36 5 · 0⤊ 0⤋
yes u still owe.. u spent the money
2007-07-18 09:17:42 · answer #6 · answered by shorty21 5 · 1⤊ 0⤋
of course you pay...........see this is why i dont lend people money.
2007-07-18 16:57:45 · answer #7 · answered by David C 3 · 0⤊ 0⤋