What happens when I miss a credit card payment?

When you miss a credit card payment in Maryland, you may be subject to late fees, penalties, and higher interest rates. Your credit card company may also notify the credit reporting agencies, which could negatively affect your credit score and make it more difficult for you to obtain credit in the future. It is important to contact your credit card company as soon as possible if you think you will miss a payment. Your credit card company may be able to arrange a payment plan or waive the late fee. If you miss several payments, the credit card company may pursue collection measures such as sending your account to a debt collection agency. The collection agency may then contact you in an effort to collect the debt. If you are sued by your creditor, you should try to work out a settlement with the creditor. You may also be able to set up a payment plan and negotiate a lower interest rate on the debt. If your credit card company threatens to sue you for an unpaid debt, it is important to seek legal advice regarding your rights and options. A lawyer can help you understand the legal implications of a credit card debt lawsuit and offer advice about the best approach to resolving the issue.

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What happens when I miss a credit card payment?

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