A CREDIT CARD COMPANY CAN SUE IT'S CUSTOMERS?,YES.
Credit card company can sue customer, Yes, its very possible, i know you will be more surprise how can a billion dollar company that has a lot of money will sue a customer that has a few dollar in his/her account. Yes but they can, that’s simply the law. Just know that they you have entered into a contract once you start using their credit card. So if you don’t pay, get ready to be sue.
My main reason for writing this post is that i receive an email from a redaer from the u.k whether a credit card company can sue its customer. Here is my answer:
keeping people paying for years is one of the major source in which every credit card company make money. Another way is that make their money on the interest you pay them. So you have to pay and clear yourself to make the business going and growing.
So, Lets assuming you were loaned $500 and may be paid back $2000 in interest over the years on that same $500. You still owe them, so you have to pay or they will sue you because you broke the credit card agreement.
The only way to this is to contact the credit card company and arrange payments that will satisfy them. And if you are on the point that they are about to sue you, then they already sent it to the collection agency, the best thing to do is simply contact them in writing, with a proposal about payment arrangements. Thats the only way to get out of under the debt before you’re sued.
My main reason for writing this post is that i receive an email from a redaer from the u.k whether a credit card company can sue its customer. Here is my answer:
keeping people paying for years is one of the major source in which every credit card company make money. Another way is that make their money on the interest you pay them. So you have to pay and clear yourself to make the business going and growing.
So, Lets assuming you were loaned $500 and may be paid back $2000 in interest over the years on that same $500. You still owe them, so you have to pay or they will sue you because you broke the credit card agreement.
The only way to this is to contact the credit card company and arrange payments that will satisfy them. And if you are on the point that they are about to sue you, then they already sent it to the collection agency, the best thing to do is simply contact them in writing, with a proposal about payment arrangements. Thats the only way to get out of under the debt before you’re sued.
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