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This question is about a credit card I used to ...

This question is about a credit card I used to have. The bank/company that issued the credit card closed every cardholder's account. No notice was given to me at all about this. Do I legally have to pay the remaining balance? I'm asking the questions because if they file for bankruptcy and can right the loss off for what I owe, why should I pay them anything? Thanks.


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Debt Guy
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You say "if they file for bankruptcy" so that tells me they have not yet.  If you stop making payments on any debt then that will show on your credit report.  If they are still in business and if they are still reporting to the credit report agencies then you will be introuble if you stop paying.  I would think that you will be getting some sort of notification of how to continue if in fact they do file, but until then I would keep paying if you want to keep your credit report clean.
Posted 2009-10-08T17:10:16Z
Debt Guy was invited by Yedda to answer this question.

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Here are some useful links for information on bankruptcy , debt consolidation and getting a free credit report .

Yes you still have to pay your debt.
Posted 2009-11-07T16:18:24Z
Pete was invited by Yedda to answer this question.

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