Credit Card

A credit card is a payment card issued to users as a system of payment. It allows the cardholder to pay for goods and services based on the holder's promise to pay for them. The issuer of the card creates a revolving account and grants a line of credit to the consumer (or the user) from which the user can borrow money for payment to a merchant or as a cash advance to the user.A credit card is different from a charge card: a charge card requires the balance to be paid in full each month. In contrast, credit cards allow the consumers a continuing balance of debt, subject to interest being charged.
Posts about Credit Card
  • Debt Solutions Explained

    … People on websites like Avvo.com often ask questions about companies offering ‘debt consolidation,’ ‘debt management,’ ‘credit repair’ or ‘debt settlement.’ These questions are asked so frequently that I am writing this blog to share helpful information. Both consumers and companies use many of these terms interchangeably. Each term, however…

    Dove Bankruptcy Law- 37 readers -
  • Debt Relief: Marvel’s Other Superhero

    … to individuals who are delinquent on their payments. There are people I meet with who are current on their credit cards, loans, mortgages, or other obligations. They realize that they are making no progress in decreasing the principal debt owed. If you are making the minimum payment on credit card debt, it is highly unlikely that you will pay the cards…

    Joshua Lawhorn/ Bond and Botes- 37 readers -
  • What Happens If You Cannot Pay Student Loans?

    … I discussed student loan debt in a previous blog. As many of you are aware, student loan debt in this country has risen to unheard of levels in recent years. Student loan debt now exceeds 1 trillion dollars and exceeds all other debt categories, including credit card debt, with the exception of mortgage debt. This much of a debt load leaves…

    Bond and Botes- 17 readers -
  • 2015 Weiss Scholarship Competition Winner!

    … bankruptcy protections for private student loans, pointing to the legislative protections retained in comparable areas such as credit card debt and medical bills. There is, however, procedure for filing for discharge of private student loans, under the “undue hardship” wording of section 528(a)(8) of the bankruptcy code. One could file under…

    Ronald D. Weiss, PC- 30 readers -
  • Can Bankruptcy Help Me with Past Due Child Support?

    … it will do is continue to grow, with interest. In Mississippi, past due child support CANNOT be forgiven. No court has that authority. And, past due child support can interfere with your ability to earn income. For example, Mississippi law allows your driver’s license to be suspended for past due child support. If you get caught driving on a suspended…

    Ed Woods/ Bond and Botes- 43 readers -
  • Bankruptcy Today for Retirement Tomorrow

    … or becoming a financial burden on your family. If you are just paying the minimum payment it could take you 20 years or more to pay your credit card in full, and that is both assuming you do not add any more charges to the card and are never late on your payments causing your interest rate to hike. The amount of money you spend on just the minimum…

    Grant Mcnutt/ Bond and Botes- 33 readers -
  • What Are Some Common Reasons That People File for Bankruptcy?

    … on favorable terms. Fortunately, in many cases, bankruptcy can help eliminate unpaid medical debt. Credit Card Debt – The average American household carries several thousand dollars of credit card debt. These debts often have extremely high interest rates and can easily spiral out of control for people who get behind on their payments. In many…

    Ronald D. Weiss, PC- 25 readers -
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