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How Credit Card Debt Collection Works

Taurus Collect

If you have ever had to deal with credit card debt, you know it can be stressful. Debt collectors call at all hours of the day and pressure is put on borrowers to quickly make payments in full. The process begins when the debtor stops making payments on their credit card and goes into default.

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What If I Don’t Pay My Credit Card Bill?

Credit Corp

Credit.com has a free credit score simulator to help you understand the effects of delinquency on your credit profile. Charge-Off Eventually, your credit card company stops waiting for you to make a payment. This prompts a charge-off, where a creditor closes your account and writes off your debt as a loss.