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Credit card company recourse?

What recourse do credit card companies have against you if you are unable to pay? With the bad economy, things have piled up & gotten behind, and I don't see any way of catching up while still keeping up with credit card payments.


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I just can give you some advice and credit card use tips, Top 30 Student Credit Cards Usage Tips
Posted 2009-07-10T15:05:15Z
Onlinearnings was invited by Yedda to answer this question.

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Margarita,

1. They will call you until they are blue in the face to try to collect on from you.

2. If they cannot collect from you they will charge off or sell the account/s to third party collection agencies at about 160 days delinquent, that is six months.

Meanwhile you can get ready for this while you learn your consumer rights at:

http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre18.shtm
Posted 2009-07-14T03:03:53Z
DebtAnalyst was invited by Yedda to answer this question.

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