Can You Be Sued for Credit Card Debts?

The other day my boss at my company was on KMOX Radio and did his infamous speech on Credit Scores and what the true meaning there is especially with the Holidays coming up. I hope you all had an opportunity to listen as the short 10 minut...e presentation was full of information that was truthfully worth it to anyone who really wants to know anything about their Credit Scores.

I would like to expand on what he said in regards to Credit Cards - Can You Be Sued for Credit Card Debts?

Nowadays millions of people can’t think out of credit cards for this reason they already mount up lots of debts on every credit cards. They forget to stop using credit cards when it already crosses the credit limit. The credit card companies are treating the credit card holders to collect their credit card dues within the due date. If the credit card companies fail to collect the past due balance, they can go to file suit against the credit card holder to collect the dues. If they have any alternative ways to collect the credit card debts most of the credit card companies will choose the other alternative ways.

When you miss to pay off your credit cards’ debt, the credit card companies will treat your debt as a bad debt which is unpaid for more than six months. In this situation the credit card companies will commonly transfer your credit details to a debt collection companies to collect from you. If the credit collecting agency fails to collect your dues the bank will proceed to the court for filling a suit against you.

When you get to know about the court date and location you may ask to the collection agency to negotiation for making a payment Arrangements with reduction of current balance due on your credit card account. This settlement offer may help you to clear it off without any headache of extra budget. You can enroll your name for the consumer debt counseling where you pay a lump sum to the counseling company and they will distribute the money to the all your open credit accounts.

The credit card debt is the most common unsecured loan that trapped people into many case suits by the lenders due to miss payments. So you need to more careful before using any credit cards.

If you ever want any assistance to home financing, remember you can always reach out to me through my website www.CallTheMoneyMan.com