Account Default. This section explains when your Account will be in default and what may happen when your Account is in default.
Account Default. This section explains when your Account will be in default and what may happen when your Account is in default. What Triggers Default The Account will be in default of this Agreement, to the extent permitted under applicable law, if: ● You fail to pay any Minimum Payment Due on or before the applicable payment due date, or your Minimum Payment Due is returned unpaid or cannot be processed; ● You breach any term of this Agreement or any other agreement with us; ● An Authorized User breaches any term of this Agreement; ● You file or become the subject of a bankruptcy or insolvency proceeding; ● You give us any false, incomplete or misleading information; or ● You become legally incapacitated. What is the Effect of Being in Default If the Account is in default, we may take any of the following actions to the extent permitted under applicable law: ● Continue to charge you interest as long as you have an outstanding Account balance; ● Lower your Credit Limit; ● Decline or otherwise limit your ability to make Transactions; ● Report information about your Account to the credit bureaus; ● Begin collections activities; ● Suspend or close your Account; ● Remove any Authorized User from your Account; ● Require you to immediately pay all or any portion of your total outstanding balance (this action may also be taken upon death); If we retain an attorney who is not our salaried employee to collect amounts you owe, we may require you to pay for the court costs and reasonable attorneys' fees that we actually incur; and/or• ● Take any other action permitted by law.
Account Default. We may consider You in default of Your Agreement with us if: • You do not make any payment when it is due; • any payment You make is rejected, not paid, or cannot be processed; • You exceed a credit limit; • a bankruptcy or other insolvency proceeding is filed by or against You; • You die or are legally declared incompetent or incapacitated; • we determine that You made a false, incomplete, or misleading statement on any of Your Account documentation or You otherwise try to defraud us; • You do not comply with any term of this Agreement or any other agreement with us; or • You permanently reside outside the United States. For certain actions, including changing the rates and Fees on Your Account, our options appear in our original offer materials when You opened Your Account. Remember, paying the Fees charged in connection with a default will not by itself cure the default. In addition, if You are in default, we may take the following actions without notifying You, unless the law says that we must notify You: • close or suspend Your Account; • lower Your credit limits; • increase Your minimum payment; • demand that You immediately pay the entire balances owing on Your Account; • continue to charge You Interest Charges and Fees as long as Your balances remain outstanding; and/or • pursue any other action against You that the law allows, which includes the filing of a lawsuit against You. You must pay us all of our collection expenses, attorneys’ fees, and court costs unless the law does not allow us to collect these amounts.
Account Default. We will consider any of the following as an “event of default” under this Agreement, to the extent permitted by applicable law: ● You fail to pay the full Card Account Balance by the payment due date, in accordance with this Agreement; ● You file for bankruptcy or become the subject of a bankruptcy or some other insolvency proceeding; ● You have a returned payment; ● You fail to honor the terms of this Agreement; ● You default under any other agreement you have with us, including any Rewards Program Terms and Conditions; or ● You become legally incapacitated or are deceased. If an event of default occurs, then we may take any of the following actions, subject to applicable law: ● Transfer funds from your Secured Account and apply such amounts to the Card Account Balance; ● Limit or fully restrict your ability to use automatic fund transfers into your Secured Account; ● Decline or otherwise limit your ability to make Transactions; ● Require immediate payment of your total Card Account Balance; ● Close or suspend your Card Account; ● Exercise any other right available under applicable law. We may also close or suspend your Card Account for any other reason, or for no reason. We may do this at any time, without notifying you, as allowed by law. We may cancel one of your current Cards and issue you a substitute Card at any time. You may close your Card Account at any time by notifying us via email at xxxxxxx@xxxxxxx.xx or by calling us at (000) 000-0000. If we close or suspend your Account, or if you close your Card Account, you are still obligated to pay any amounts you owe on the Card Account, even if they post to your Card Account after it is closed or suspended.
Account Default. The account and Agreement will be in default if any of the following occur:
a. You fail to make any minimum payment or other required payment that is due.
b. You fail to abide by all terms and conditions of this Agreement.
c. You fail to keep any promises to pay in connection with this account.
d. You die, become incapacitated, file bankruptcy or you are unable to pay your financial obligations when due.
e. You make false or misleading statements in any credit application or credit update.
f. Upon re-evaluation, we believe your ability to pay what you owe is substantially reduced.
g. Your creditworthiness becomes unsatisfactory to us because of a change in your employment, an increase in other obligations, excessive open credit card accounts, other delinquent loans, over limit or other reason. In the event of default, we have the right to demand that the entire amount owed on the account becomes due and payable immediately. If immediate payment is demanded, you agree to continue paying any fees and interest charges, at the periodic rate prior to default, until what you owe has been paid.
Account Default. We may consider your Account to be in Default if you: ▪ fail to make the Minimum Payment Due when due; ▪ exceed your Credit Limit; ▪ become the subject of bankruptcy proceedings, foreclosure, repossession, lien or judgment, garnishment, or attachment; ▪ give us misleading, false, or incomplete information; ▪ fail to give us a current physical address when you apply and whenever you move; ▪ make payments to us that are returned unpaid by your bank or other financial institution; ▪ Default under any other agreement or security agreement you have with us or with one of our affiliates; and/or ▪ become incompetent or deceased. Upon Default, we have the right to: ▪ close your Account; ▪ suspend your Credit privileges; ▪ require you to pay your entire Account balance, all accrued but unpaid Finance Charges, and other charges provided for in this Agreement immediately; ▪ change the terms of your Account; and ▪ sue you for what you owe. If we incur costs to collect your balance owed, including any attorney fees, we may charge you for these costs as permitted by applicable law, and we will apply your payments first to these costs.
Account Default. You will be in default if:
Account Default. If you are in default, we can charge you fees and interest charges as set forth herein, continue to charge such fees and interest charges, lower your Credit Limit, file a lawsuit against you or pursue another action not prohibited by law, declare the entire balance of your Account due and payable at once without notice or demand, suspend, restrict or cancel your Card and Account and/or terminate this Agreement without liability. You are in default if: (1) you fail to make a required payment when due or before the payment due date; (2) we determine you made a false or misleading statement to us, or otherwise attempted to defraud us; (3) if you die; (4) are subject to a bankruptcy or insolvency proceeding; (5) any payment you make is rejected, not paid or cannot be processed; (6) you exceed your Credit Limit; (7) you permanently reside outside of the U.S.; or (8) you fail to comply with any term of this Agreement. After your default or your death, and subject to the limitations of applicable law, we may at our option: (a) close your Account and declare the entire unpaid balance on your Account immediately due and payable, (b) require you to surrender the products purchased with any outstanding loans from your Account, and/or (c) exercise all other rights and remedies available to us under applicable law. In the event of your default, and subject to any limitations or requirements of applicable law, you agree to pay all costs, including reasonable attorney’s fees, incurred by us (y) in collecting all amounts due on your Account, whether or not suit is brought against you, and (z) in protecting ourselves from any harm that we may suffer as a result of your default.
Account Default. You will be in default if:
1. you do not make any payment when it is due;
2. any payment you make is rejected, not paid, or cannot be processed;
3. you exceed a credit limit;
4. you file or become the subject of a bankruptcy or insolvency proceeding;
5. you are unable or unwilling to repay your obligations, including upon death or legally declared incapacity;
6. we determine that you made a false, incomplete, or misleading statement to us, or you otherwise tried to defraud us;
7. you do not comply with any term of this Agreement or any other agreement with us or the Service Provider; or
Account Default. You will be in default if:
1. you do not make any payment when it is due;
2. any payment you make is rejected, not paid, or cannot be processed;
3. you exceed a credit limit;
4. you file or become the subject of a bankruptcy or insolvency proceeding;
5. you are unable or unwilling to repay your obligations, including upon death or legally declared incapacity;
6. we determine that you made a false, incomplete, or misleading statement to us, or you otherwise tried to defraud us;
7. you do not comply with any term of this Agreement or any other agreement with us; or
8. you permanently reside outside the United States. If you are in default, we may take certain actions with respect to your Charge Card Account. For example, depending on the default, we may take the following actions, without notifying you, unless the law says that we must give you notice:
1. charge you fees;
2. close or suspend your Charge Card Account;
3. demand that you immediately pay the total balance owing on your Charge Card Account;
