What passes if not payment the debts of my credit cards

What passes if not payment the debts of my credit cards

What passes if not payment the debts of my credit cards

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A credit card is a means of payment associated to a credit that allows postpone the payments of the purchases. Us allows buy without the need of take cash top or through internet right away. However, one of the obligations of the account holder of the contract is the acquisition of a commitment with the banking organization that the issues, since this moves forward the money with which finance all the purchases. This way, the bank establishes a credit line that has to be returned according to the fee-based system picked for the account holder, in a time determined and can that with with additional interests. Because of this last, not be strange wonder what happens if not can return the debt (the amount spent more the interests) of my credit cards.

The first consequence of the nonpayment of the owed amounts with a credit card is the accrued interest of interests of delay. Before this situation, it more important is act as soon as possible for not increase the debt. Not face to the debts of the credit card on time increases the final amount that be necessary to pay for amortize the credit. For this reason, avoids all kind of unnecessary fees and expenses that increase your debt.

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Consequences of not pay the debts of the credit cards

Consequences of not pay the debts of the credit cards

If the owner of the card not tries settle the debts of your credit cards, the bank initiate a series of stock that aggravate a lot of the financial situation of the customer. The consequences of not pay the debts of a credit card are the following ones:

  • Blockade of the credit card : when arrives to the situation of nonpayment of the card, the first measure that carries out the issuing banking organization of the same one is block it.
  • New interests and fees: the cash amount that overcomes the credit limit agreed with the banking organization yields some additional interests to which already per se has the credit card. For another lake, the nonpayment of the debt supposes more cash amount to owe for the cardholder.
  • Be included in some list of non-performing assets.
  • Complaint judicial: the banking organization can turn to the Justice in the event that the debt prolongs a lot in the time and after exhaust the via extrajudicial for the recovery.

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