Tag: card
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Can credit card debt in collections be forgiven?
If you’re struggling with credit card debt, a forgiveness plan may be worth exploring. Getty Images Credit card debt is one of the most persistent financial challenges facing Americans today, with millions of accounts falling into collections each year. When credit card bills go unpaid for extended periods, creditors often sell these delinquent accounts to…
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Can a 7-year-old credit card debt still be collected?
It can be tough to get rid of a seven-year-old credit card debt. Sean Russell/Getty Images With credit card debt climbing nationwide, many cardholders have found themselves struggling to meet their monthly payment obligations. Right now, the average cardholder owes nearly $8,000 in credit card debt and the financial stress of carrying a balance that high…
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What will a debt collector do if I can’t pay old credit card debt?
If you’re behind on your credit card payments, debt collectors can use a few different strategies to try and collect what you owe. Philip S. Cardamone/Getty Images It only takes one serious financial setback — whether it’s a layoff, a medical issue or an unexpected major expense — to suddenly find yourself behind on bills.…
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Will debt collectors sue over a $3,000 credit card debt?
Debt collectors have many options for pursuing payment for old credit card debts — and lawsuits are one of them. Getty Images When debts accumulate and go unpaid, it can be tempting to ignore them and hope they eventually disappear. After all, if the debt is old enough, it will no longer impact your credit…
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Is it ever OK to ignore credit card debt collectors?
Ignoring your debt collectors can be tempting — but it’s typically the wrong approach to take. Getty Images With credit card interest rates sitting at historically high levels right now, millions of cardholders are struggling to pay off what they owe. After all, as the compounding interest charges rack up, it’s easy for even a…
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Can a 10-year-old credit card debt still be collected?
You could still be on the hook for a 10-year-old credit card debt, but that won’t be true in all cases. Getty Images Credit card debt is becoming an increasing concern across the nation. Not only is the total amount of credit card debt rising, but nearly 9% of cardholders are now struggling to keep…
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7 credit card fees that increase the cost of your debt
Any extra credit card fees you’re paying can add up quickly, increasing the cost of what you owe. Getty Images Credit cards offer a unique level of convenience, but that flexibility can come at a significant cost — and it’s not just the interest charges that contribute to it. What many cardholders don’t realize is…