Typically, how late do you have to be on a credit card before it is turned over to collections?

Question

Typically, how late do you have to be on a credit card before it is turned over to collections?

Answer 1

If it's in house collections, usually 30 days. It also gets reported to the credit bureau as a slow pay and that stays on file for 7 years.

Answer 2

Most credit card companies will sell your account to a collections agency after they have made several attempts to collect and about 180 days. They will normally send you a letter informing you that you have until a certain date or your account will go to collections. Hope this helps.

Answer 3

creditors report to the credit agencies every 30 days so if you are 31 days late on your bill they have already reported you but do not ignore them. some companies will work with you and may even reduce your interest rate or montly payments if you attempt to pay back your debt. at the very least pay something because if they charge it off it will hurt your credit score and that stays on your reports for 7 years. good luck to you.

Answer 4

The credit card company itself will try to resolve the situation with you first before it goes to a collection agency. Just depends on the CC. Sometimes just after one missed payment, but could be up to 2 or 3 missed payments. It usually doesn't go to a collection agency until the credit card company charges it off... don't let it get to that point... work with them... don't ignore them.