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Will creditors talk to the merchants in case of defaults?


nriw
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I have significant business debts on my credit card and I am headed towards default. I am weight bankruptcy although riding it out without a BK may be another course.

 

Because most of my debts are to a small group of suppliers, I wonder if the credit card companies will contact them to get more information on me. I am technically ok with that, the CC companies and suppliers have about the same information. I am concerned that the suppliers, based in Asia, might report me for something and then I face legal repercussions in the other country.

 

Do you guys know if credit card companies will contact merchants about a debtor, especially if one merchant receives much of the transactions?

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I doubt understand your question. Why would a credit card company contact a merchant to get information on you? Do the credit card companies feel like that have your correct contact information? Have you been in contact with them? Once the merchant transaction clears and as long as there is no dispute or chargeback with the merchant, the merchant is out of the picture.

What are your real concerns?

Sent from my SM-N950U using Tapatalk

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On 12/3/2018 at 7:38 PM, nyquil556 said:

I doubt understand your question. Why would a credit card company contact a merchant to get information on you? Do the credit card companies feel like that have your correct contact information? Have you been in contact with them? Once the merchant transaction clears and as long as there is no dispute or chargeback with the merchant, the merchant is out of the picture.

What are your real concerns?

Sent from my SM-N950U using Tapatalk
 

I did business in Thailand where I have family. If the supplier were to report me for bad debts it is likely not to be seen as a simple civil matter as in the US. 

 

That is why I wanted to ask about whether credit card companies will contact suppliers/merchants about a defaulted account. Good to hear this isn't really the case.

 

The credit cards are american ones though.

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The fact that the card issuers were American reduces the likelihood of the issues of shaming that are more prevalent in that part of the world.  However, if the mailing address for you or the business were overseas, then the calculus could change somewhat...

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