When can a credit card company sue you for non-payment?
We may receive commissions from some links to products on this page. Promotions are subject to availability and retailer terms. Your old credit card debt could get a lot more expensive if a lawsuit is filed to recover it. Getty Images Credit cards can be a convenient way to manage expenses, but they also come with a serious responsibility to repay the borrowed funds on time. When a credit card account goes unpaid , it can result in late fees, penalty interest rates and damaged credit scores — and in certain cases, non-payment can lead to even more severe repercussions, like being sued for your unpaid debt . A lawsuit over unpaid credit card debt may sound extreme, but it’s a real possibility if your debts are left unaddressed. The good news is that creditors don’t initiate lawsuits lightly — they typically attempt to work with the borrower first. But when these attempts fail and a credit card account remains delinquent , a lawsuit can be an option for creditors to pursue. Knowing when this step is likely to happen can help you take proactive