Common questions 

What happens if I not paying credit cards?

Joe Ford

What happens if I not paying credit cards?

Failing to repay the minimum amount due mentioned in the credit card bill will incur an additional penalty in the form of a late payment fee of up to ₹1,300, depending on the card issuer and the bill amount.”

Can you get served for not paying a credit card?

It’s important to point out that you cannot go to jail for not paying your credit card bill. In fact, if a debt collector threatens you with jail time over an unpaid debt, it’s likely violating a federal law known as the Fair Debt Collection Practices Act (FDCPA).

Can credit card company take you to court?

If a debt goes unpaid and you’ve made no plans to repay it, your credit card company may sue you in civil court for the balance, hoping a judge will order you to pay.

What happens if you don’t pay your credit card bill?

Also, some department store credit cards provide that the creditor automatically takes a security interest in the property you buy, so if you don’t pay the bill, the creditor might try to repossess the property. However, because creditors must get a court order to enter your house or business, repossession of property other than vehicles is rare.

Can a credit card company take Your Car?

Credit card debt, unlike mortgage debt, is unsecured debt. This means your credit card company can’t come immediately take your stuff — including your home or car — when you don’t pay.

Can a credit card company take Your Property?

The bottom line is this: Your credit card company can take your stuff if you don’t pay, but only after a fairly long process that will have to play out in the court system. Before a credit card company can seize your property, they’ll have to sue you and obtained a judgment.

Can a credit card company sue if you miss a payment?

No lender is going to sue you after a few missed payments, but they’ll definitely start calling. If the collection calls don’t work, there is a decent chance that the credit card company or a debt collector will eventually file a lawsuit.