Legal Question in Credit and Debt Law in New Mexico
Credit Crooks
Can credit card companies raise interest rates on a credit card based on credit rating even if the card in question has been in good standind for 10 years and if an inability to pay because of increased rate, could the company put a lien on any property owned by the card holder?
Asked on 9/22/05, 9:10 am
1 Answer from Attorneys
David Anderson
Anderson Business Law LLC
Re: Credit Crooks
Yes the credit card company can OFFER a change of rates for future purchases. YOU DON'T HAVE TO USE IT IN THE FUTURE. Tear it up if you don't want the higher rate.
WIthout a judgment they would not be able to lien anything unless you have a SECURITY agreement.
Call or e-mail for further assistance.
Answered on 9/22/05, 10:55 am
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
