Credit Card Debt

As an employee, a corporate credit card lets you avoid entangling business expenses required by your employer and personal expenses, but it can still affect your credit rating. In general, business…

New York is not a community property state, and a creditor cannot hold you legally responsible for credit card debts your wife incurs. Creditors can, however, pursue your wife for any unpaid credit…

In Nebraska, credit card accounts are considered open contract accounts. State statutes regarding debt collection and reporting follow federal guidelines, but the state of Nebraska stipulates statutes…

A dollar devaluation occurs when the dollar's purchasing power goes down. Although a dollar will remain a dollar, it will buy less. This can eventually be felt through increased prices for energy or…

The state of Minnesota enacted a specific law that addresses taking money from an individual’s tax refund to satisfy a debt. Called the Revenue Recapture Act, it allows the Minnesota Department…

You may use your credit card sparingly and make a habit of paying your balance off each month. However, one unexpected bill can leave you with insufficient cash to pay off your card balance, and when…

Discharging a credit card judgment lien consists of having the bankruptcy court release your personal liability to the debt as well as removing any claims the credit card company has to the house.…

Credit card collectors often take the full range of options available under state and federal law to obtain repayment of outstanding debts — including, in extreme cases, placing a lien against a…

If you fail to make payment on an outstanding credit card balance, the original creditor may consider your account uncollectable and refer it to a collection agency. Either the original creditor or…

Bankruptcy will usually make credit card debt go away. The bankruptcy "discharge" is the occurrence that makes it go away. The way the discharge comes about depends on the type of bankruptcy…

Time eventually takes care of all credit debt, and the legal term for this "time" is the statute of limitations. This is the time period in which a state allows a creditor to sue a consumer for the…

When you accumulate a large amount of credit card debt, it puts a strain on your financial situation. At this point, you may be looking for a way to get a tax break for the credit card debt that you…

If you incur credit card debt, you must typically make monthly payments until you have repaid the debt in full. However, you may wonder what happens if you die with unpaid debt. In most cases, your…

When creditors look at debt-to-income ratios, it is a measure of the risk found in potential credit applicants. The higher the debt-to-income ratio is, the less likely it is for potential applicants…

Generally, if credit card debt is canceled, other than as a gift or through bankruptcy, you must include the canceled amount in your income. The Internal Revenue Service provides for certain…

Credit card debt affects your credit rating in a variety of ways. In general, irresponsible use of credit cards will negatively impact your credit scores. The direct effects of credit card use are…

Settling credit card debt is a little known but perfectly legal option for borrowers who are delinquent and struggling. Although these borrowers can eliminate thousands of dollars in debt by…

Responsibility for your credit card debt after your death is determined by federal and state law. The legitimacy of the debt and the payment priority is determined by the executor of your estate in…

Credit card debts in collections are harmful to your credit scores. Late payments cause credit scores to drop and may make it difficult to qualify for new credit at reasonable rates. Card companies…

Excessive credit card debt is a leading cause of bankruptcy, with some people entering bankruptcy because of multiple credit card accounts charged to the limit. Wild spending on credit cards, coupled…

Low-to-moderate income home buyers in rural communities have a mortgage option many consumers are unfamiliar with. It's a U.S. Department of Agriculture, or USDA, loan, and it allows creditworthy…

Credit card debt for senior citizens jumped 217 percent between 1994 and 2004. Even though seniors tend to spend credit on essentials, such as food and utilities, there's little help for them that's…

A complaint for a credit card debt is a lawsuit filed in civil court. Lawsuits for credit card debts are very serious matters because they can lead to court judgments and bank or wage garnishment. The…

Federal garnishment laws establish guidelines for the amount of wage deductions that are allowable from your income. The Consumer Protection Act protects consumers by limiting the types of income that…

Heavily reliance on credit cards can have a serious detrimental effect on your personal finances---as your credit card balances climb, you might find it difficult to make your minimum monthly…

Failing to show up in court for a credit card lawsuit has severe consequences. The judge will automatically award the credit card company a so-called default judgment. The judgment requires you to pay…

Answering a Citibank summons--or any bank summons--requires you to act with expedition to avoid losing your property or other assets. A bank summons is most often a result of a deficiency judgment.…

A summons is an official notification that somebody has filed a complaint, or lawsuit, against you. The summons will direct you to file a response with the court within a certain period of time,…

A summons is an official document requesting your presence to appear before a court. Summonses are used to call jurors for jury duty or to notify the defendant of a lawsuit against him. The paper will…

A summons is the formal notice of a lawsuit. It is delivered to the person who is being sued -- the defendant. A summons notifies the defendant to appear in court to answer a charge or respond to a…

A summons is a court document that is served with a lawsuit. A summons must contain specific language and be prepared on an official court form to be valid. A summons must be properly completed and…

If someone sues you for any reason, you may receive a summons in the mail. A summons is a notification that you are being sued and states who is suing you, for what purpose and the amount. When you…

A court summons for debt collection can be intimidating, but just because you've been summoned doesn't mean you'll have to pay if you handle it right. Many people simply ignore a summons because they…

A court summons is a document written by a judge that commands you to attend court on a designated date and time. The purpose of the court summons is to inform you of pending charges filed against…

One of the most difficult tasks to accomplish during a divorce is to split the debt the married couple accrued during their marriage. Sorting out the various debts and splitting the cost between both…

If you miss your summons, then you have failed to appear in court. A failure to appear, or FTA, is a crime. The consequences of an FTA conviction depend on the original cause of the summons and the…

A motion lawsuit summons is just another way of saying that someone is suing you for one reason or another. Different court systems might have different ways of explaining this, but the bottom line…

The Civil Rights Act of 1871 authorizes citizens to sue when they believe their constitutional rights have been violated by a police officer or other government agent. The most common claims against…

Bill collectors are not allowed to call you at work, call your home before 8 a.m. or after 9 p.m., speak to you abusively or call your family or friends? Under the federal Fair Debt Collection…

Sometimes a check is issued as payment pursuant to an agreement between two parties, such as to resolve a debt or to settle another dispute. In these instances, it is often helpful if the issuer takes…

When a court case is filed against you, the court issues a summons to let you know about the case and to give you a court date. However, in some cases, you may not receive the summons in time to…

If you are served a summons, the court who issues it requires that you reply to it by writing a response letter. You must follow any instructions given on the actual summons when writing it, and you…

If you receive a summons from a bill collector, the courthouse sends you a notification. The bill collector contacts the court and requests this summons be issued to you to notify you that you are…

Garnishments, liens and property seizures are the costs of carrying unpaid debt. Collectors work through the U.S. court system's civil divisions to hold consumers accountable for debts that have not…

Few things are scarier for a business than the threat of a lawsuit. Since most business owners will never be involved in one, being sued can come as a real shock and most people have no idea how to…

A court issues you a summons to notify you that someone is suing you. The summons lists the name of the plaintiff, the court location and the details of the complaint. You, or your lawyer, are then…

A court summons notifies a person of a court appearance required due to a civil complaint. It lists the names of all parties involved, the location of the court and details regarding the plaintiff's…

A court summons is an order to appear in a US court, and must be delivered to the defendant personally. A summons may be issued for a variety of issues, usually a civil lawsuit, but a traffic ticket,…

Calls from credit collectors can be a little scary. You may not know what to say or whether to even answer your phone. The letters you receive may sound intimidating. You are, of course, obligated to…

When a couple gets divorced in New Jersey, the court has to allow for property division of all assets and debts owned by either spouse. No two divorces are identical, and how the court divides these…

Settling wills can be a difficult and highly emotional process. Feuds can erupt between beneficiaries if wills are changed or property is sold to someone other than the will's beneficiary. Little can…

A court summons is a notice received by a person that states the person must appear in court because of a civil complaint. It lists the parties involved, the location of the court and information…

In debt collection, businesses often hire a third party to collect this because the cost of collecting the debt themselves can be more than the debt itself. When collection is outsourced, debts are…

Debts that are not paid and considered delinquent with the original bank, credit card company, or other money loan company can be sold to a third-party collection agency. These collection agencies…

A legal gambling debt in Michigan can be collected through civil litigation. Research the Michigan state laws on gambling under the Michigan compiled statutes. The gambling debt must be the direct…

A judgment is a court proceeding where a judge makes a final decision on the debt that is owed by a debtor to a creditor. If the judge makes a decision in favor of the creditor and the debtor still…

Unauthorized transactions on credit card accounts are a growing problem for millions of Internet users around the world. In fact, the Federal Trade Commission estimates that as many as 9 million…

A summons is a paper issued by a court informing a person that a complaint has been filed against him, according to US Legal.com. When a Capital One or other credit card consumer falls behind in his…

The legal process for credit debt exists in three stages that progress based on the age of the debt and its size. Creditors will use several avenues to recover monies owed, but a process must be…

The state of New Hampshire has implemented several laws that protect consumers from unfair credit card company practices. The state requires credit card companies to be forthright with information…

When a person dies with outstanding credit accounts, what happens afterward is a complicated answer. Several factors dictate who, if anyone, will be responsible for the remaining debt. State law and…

An unsecured line of credit is similar to a loan except that it does not require any collateral. The line of credit can be either personal or business. Unlike a loan that requires collateral, a line…

Racking up a lot of debt, either with a credit card or personal loan, can become stressful when collectors begin demanding payments you cannot make. Luckily, there are remedies which allow people to…

Credit card settlement is an effective solution for consumers who want to pay off mounting credit card debt. The 2007 Debt Relief Act was created to help people on the verge of bankruptcy. It helped…

Indiana, like any state, has its own laws that govern divorce proceedings. Dividing debt incurred throughout the marriage is typically part of a divorce proceeding. It must be put in writing how the…

When an account remains past due for a certain amount of time, typically up to 180 days, the creditor may charge off the account. The creditor can try to collect the debt by filing a lawsuit against…

Simply put, bill consolidation is debt management or debt settlement. The process consolidates all bills into one monthly payment to reduce debt and pay past-due bills off quickly. People may opt for…

Rhode Island residents enjoy a number of state and federal rights when it comes to multiple aspects of their credit card accounts. Whether someone is using a credit card as a form of identification…

Debt collectors can pursue payment of a credit card debt indefinitely, but cannot use the courts to do so once the overdue bill is three years old, according to Mississippi state statute 15-1.29.…

Credit card companies seek a writ of attachment from the courts in Florida when individuals stop making payments on their credit cards. Seeking an attachment is the beginning of the process in which…

In America alone, 80 percent of all households have at least one credit card and the average household has a dozen, according to the Consumer Federation of America. More than a billion cards are in…

In Florida, businesses and individuals have the right to recover debts through the use of judgments. A judgment is merely a court ruling stating that the court has evaluated the plaintiff's claim and…

In Connecticut, credit card debt upon death becomes the responsibility of the estate. Upon death, an estate executor will assess all debts and assets and determine the order of payment, or determine…

In February 2010, the Credit Card Accountability, Responsibility and Disclosure Act of 2009, more commonly known as the Credit CARD Act, went into effect. The act is a major addition to previous…

A debt agreement is a legal agreement that is entered into between a creditor and debtor. They allow someone who is in debt to pay off their debt quicker by reducing the total debt owed, lowering the…

When a person dies. their heirs often wonder, even fantasize, about the terms of the deceased's will. Some people hope the deceased left them an inheritance that allows them to dream of getting an…

Consumers can get into trouble with their credit cards, especially during economically difficult times such as the recession of 2010. Florida law protects consumers' rights by limiting how creditors…

Collecting unpaid credit card debt sometimes requires obtaining a court judgment against the debtor. If the debtor ignores the judgment, garnishing his wages may be the only available option.

Credit cards offer a convenient way for consumers to purchase goods without having to pay for them in full immediately. This convenience comes with a price, however--complicated interest rates,…

If you owe money, a creditor can legally try to collect it for as long as he wishes to do so, according to the “Credit Cards” website. But Michigan residents are protected by statute of…

Residents of all states are provided with a federal law called the Fair Debt Collection Practices Act (FDCPA), which protects against abusive, unlawful debt collection practices. FDCPA applies to…

Credit cards are convenient to use when customers find themselves short of cash for needed purchases. However, misuse of credit can cause customers to quickly amass debt they cannot pay back. In…

Assuming debts from your spouse is a process that often happens during divorce proceedings. Debt must be divided, and in many cases, both spouses' names are on the loan or credit cards. Creditors do…

Florida's laws govern how and when debt collectors can obtain payment on unpaid bills. These laws also dictate where legal action can be filed on past debts. By federal law, debt collectors must file…

Credit card companies provide revolving lines of credit to consumers. This enables people to make large purchases or bridge gaps in income while paying off the borrowed amount in monthly installments.…

High credit card debt adversely affects the finances of hundreds of thousands of people in the state of Illinois. The rising cost of food and energy, coupled with layoffs, furloughs and high…

Credit card limitations vary from state to state, and the laws often change. As of January 2010, Indiana maintains a six-year statute of limitations for credit card debt. What this means is that a…

Credit card debt is a growing problem, especially in an economic downturn as people face joblessness and higher costs, forcing them to use credit just to make ends meet. If the credit card company…

In Canada, credit scores are formulas translated into three-digit numbers based on personal financial information. The higher the number, the better the consumer’s credit. This score is a…

In Michigan, the collection of credit card debt is governed by both state and local laws. Michigan consumers are protected against abusive collection tactics by both original creditors and debt…

When you fail to pay your credit cards and other debts, they go into collections, at which point creditors will likely begin calling your house and workplace demanding payment. Sometimes, they just…

Many Americans have experienced the pain of credit card debt and the hassle of dealing with debt collectors. Both Tennessee and the federal government have passed laws that limit the actions of debt…

Most credit card debt is unsecured. This means the credit card holder does not have assets or collateral attached to the credit card debt. Despite this, a creditor can still pursue the debt in a…

Credit card debt occurs when a customer makes purchases on a credit basis or with the future promise to pay. Credit card debt becomes problematic when a cardholder falls behind on their credit card…

When someone who has stockpiled debt of any kind dies, the remaining family members are not necessarily required to pay it off. Under certain circumstances, the spouse of the deceased might inherit…

Credit card transactions are such a common part of everyday life that many consumers barely stop to think about the fundamentals of credit and fair credit practices when they pull out the plastic.…

During tough economic times many people lean on their credit cards to pay for everyday expenses such as groceries and gasoline for their vehicle. Before many people know it, their credit cards are…

Credit cards provide a convenient method for the average consumer to manage his needs by allowing him to accrue charges that he may then pay over time. Should a financial crisis or poor debt…

A credit card company could bring legal action against you when your account is substantially past due. A lawsuit entails receiving a summons, which is a notification that you have to appear in court.…

A significant element of most divorce cases is determining a division of the assets and debts of the spouses. A major type of debt accumulated by many married couples is that associated with credit…

When your credit cards become delinquent, credit card companies often hire an outside collection agency to collect the debt for them. When debt collectors attempt to collect, it can be embarrassing…

Debt is something that no one wants to have too much of, and knowing when you are responsible for a debt legally, and when you are not, can come in handy when certain situations arise. You may be…

Being behind on your credit card bills can be a very stressful experience. Fortunately, you may have opportunities to negotiate a payoff of your debt with either the credit card company or any…

To protect individuals from unfair court proceedings, Indiana has a statute of limitations in place on the timeliness of filing a lawsuit. For most individuals, the statute of limitations is pertinent…

Statute of limitations is a statute in common law that establishes the maximum time after an event that a legal proceeding based on that event may be initiated. In the State of Washington, the statute…

Credit cards provide an option to pay cash for a purchase, but annual percentage rates can lead to significant finance charges. Naturally, higher interest rates lead to even more debt for cardholders.…

The statute of limitations is a legal concept that acts as a bar to bringing a civil action after the expiration of a specified period of time. Each legal cause of action has a specific limitations…

If you've received a summons for credit card debt, you may be wondering what to do next. While a lawsuit is often a measure of last resort for many creditors who are attempting to collect a debt, it's…

The statute of limitations gives a time limit defined by statute (Florida Statutes §95.11) for credit card companies to collect active credit card debt. According to Fair-debt-collection.com,…

Consumers use credit cards all the time. Unfortunately, they can sometimes run into problems repaying those debts, and can be faced with the uncomfortable reality of collections proceedings and even…

Getting into trouble with credit card debt is an all too common problem for many consumers. Whenever consumers in Pennsylvania can't pay back their credit card debts, are subjected to collections…

Credit cards can be a great way to pay for something when you don't have the cash on hand. They can also be a great way to get into trouble with too much debt. Whenever a credit card user runs into…

The death of a loved one is stressful, and dealing with the complexities of probate can make the situation more so. Heirs should be aware that personal debt cannot be passed on like personal assets.…

Consumers can run into problems not only in paying off their credit card debt, but also in trying to determine the laws that apply to their credit card agreements. Like other states, Delaware has…

Sometimes, negotiations fail. Sometimes, debtors ignore a debt hoping that it will just go away. No matter the reason, some debt collectors will take a person to court to collect on a delinquent…

If you always pay your credit card bills on time and in the required amount, you are unlikely to face credit card arbitration. If you are in default, however, a clause in most credit card contracts…

Credit card users who don't pay their bills have rights. Several laws regarding credit cards limit what creditors can do to collect the unpaid debts.

Credit cards are regulated by several laws that directly affect consumers and their creditors. These laws govern a wide range of issues, from how terms are conveyed to when card issuers can raise…

All consumers who apply for or use credit cards are entitled to a wide range of legal rights granted to them by both federal and state laws.

A credit card company will typically charge off unpaid credit card debt after 180 days and sell the debt to a collection agency. If standard collection methods, such as letters and telephone calls,…

Credit card debt becomes uncollectible when the liabilities of a person who has a defaulted credit card account exceed his assets and ability to pay. Usually, this determination is made after a debtor…

Depending on the divorce laws of your state, in a divorce all marital assets will be divided either as community property (equally divided between parties) or equitably (property is divided "fairly").…

Receiving a notice that you are being sued by one of your creditors causes most people a great deal of anxiety. Luckily, being sued by a creditor can be defended against even without contracting with…

Getting a divorce means dividing up not only assets of the marriage, but also the debt of the marriage. This can include anything from car payments, mortgages or credit card debt. Some states are…

How your credit card debt will be divided in a divorce depends largely on the state in which you live. With the exception of Florida and Alaska, states are separated into two distinct categories:…

Credit card debt validation is part of your right as a consumer under the Fair Debt Collection Practices Act (FDCPA) to request proof of a debt that a collection agency may claim against you. A credit…

So you've received a summons to appear in court for a credit card debt. What this means is that a creditor has decided to sue you in a civil court case for a debt you owe. You may not have heard from…

One of the elements of a divorce case is to undertake a distribution of the assets and debts accumulated during the course of the marriage. Dividing assets and debts is one of the major challenges in…

Failure to answer a summons for credit card debt will result in the collection agency's court victory over you due to a default judgment. This means you forfeited the trial by not appearing to defend…

Credit cards are a convenient way to make purchases when you don't have cash on hand. Unfortunately, the economic downturn has forced many people to rely on credit cards to get by. The problem with…

There is no quick cure for debt and individuals who expect one usually find themselves further in debt. Should the government protect consumers from dangerous consolidation loans? Perhaps--and there…

If you have credit card debt, the first thing your company will do is cancel the card. Then, they will send you the full payment on a bill in the mail and will expect you to pay it on a certain date.…

For purposes of contractual liability for credit card debt, the law makes no distinction between an individual and a duly authorized corporation. A creditor can sue a corporation for defaulting on its…

Anyone who has read Charles Dickens' novels knows that at certain times in history you could be sent to jail for failure to pay a debt. Modern law, especially in the United States, does not actually…

An unsecured credit card is the kind most people have (with a secured credit card, the cardholder deposits money with the financial institution that issues the card; this money is collateral for any…

Some collections agencies employ less than ethical tactics and threaten to get the police involved if a debt is not paid in full. Some even claim that you can go to jail if you don't begin paying…

Mandatory arbitration is a way in which lenders avoid costly court trials with individual consumers. The arbitration agreement is normally buried in the small-font legalese of the credit agreement,…

Being served with a summons and complaint can be embarrassing, frightening and stressful. You run through a series of emotions when you realize you are being sued. It's important to not keep your head…

Most bad debt is written off by credit card companies due to the time and cost it takes to sue debtors, particularly those who lack resources. However, credit card companies have been known to bundle…

When it comes to collecting credit card debt, Texas laws impose extreme prohibitions on creditors seeking to collect a debt, even if the credit card company gets a civil judgment against a debtor for…

Skip tracing is trying to find someone for any number of civil law reasons, including debt collection, to serve process for a lawsuit or to repossess property such as a car. Skip tracing can also…

Before working with a collection agency or settling a debt, know the state laws on credit card debt. Learn about personal rights as a debtor and how to prevent abusive calls from collection agencies.

Being sued for credit card debt is a very serious financial event. It is the last resort for a creditor to try to collect its money, and if the company wins the lawsuit, there are a number of…

While credit card companies and collectors are entitled to attempt to collect what is owed to them, there are limits to the actions credit card companies are able to take against delinquent card…

Entering default on a credit card severely impacts the credit rating of the individual that does it. In some cases, the company may sue the defaulter to attempt to recover the full price of the loan.…

Most people who receive a summons from a creditor have never been in any sort of legal trouble before and have no idea how to handle the situation. The key point to remember, should you find yourself…

A divorce or separation can cause an emotional and financial toll on both spouses. It's not uncommon for a divorce or separation to result in financial difficulties. Debts are divided and with only…