Legal Question in Credit and Debt Law in Texas
Credit Card
I have a card that I have been paying on regularly. Three months ago I hit a few snags and sent less than the minimum. The company now says I owe the full balance. Is this legal?
Asked on 4/04/07, 7:11 pm
1 Answer from Attorneys
Peter Bradie
Bradie, Bradie & Bradie
Re: Credit Card
Probably. You'd have to read your contract with the credit card company. Most, if not all, have what's known as an acceleration clause. That means they can demand the full account in the event of default.
Your sending less than the minimum was the default.
Answered on 4/05/07, 10:37 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.
