Legal Question in Credit and Debt Law in California

Re: crdit card debt

Closing the account does not mean that you no longer owe the money. Instead, it means you no longer plan to make charges on the card. You are still bound to pay the monthly payments and the corresponding interests. Check the terms of your agreement on the card. They should explain what the rates are on the charges, when and how often the interests rates can go up. Many banks are raising the rates when you fail to pay timely.

Re: crdit card debt

Yes.

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