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A credit agreement that affects real estate can be terminated by paying off the balance and requesting a release/discharge from the lender that can be recorded in the land records. If the agreement doesn't affect real property then any balance must be paid off and the account should be closed.
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Is a credit card a verbal agreement?
No, it is not.
Do you have to pay a debt when the credit agreement has gone?
If by 'gone' you mean the agreement is missing than it may be deemed unenforceable and the debt can be cancelled by a court. This only applies in the UK as far as I am aware though.
What will not be found in your credit cards terms of agreement?
A recipe for how to cook scrambled egg will not be found in your credit card's terms of agreement. You may find this answer surprising, but it is a TRUE answer to the question you have asked. The problem is that when you ask a question in the negative ("what will not"), almost anything is a true answer and it is also impossible to tell what it was that you were actually wanting to know.
What is a revolving credit agreement?
A revolving credit agreement is a legal contract between a lender and a borrower whereby the lender agrees to lend up to a certain amount to the borrower for some period of time. The borrower agrees to make minimum periodic payments during the time that the revolving credit agreement is in force and pay off any balance due at the end of the contract period. Many revolving credit agreements automatically renew after the agreed period (unless the credit circumstances for the borrower have radically changed). An example of a revolving credit agreement is the credit card. A credit card has a credit limit ("up to a certain amount" or "maximum"), an expiration date ("some period of time") and minimum payment requirements ("minimum periodic payments"). Most credit card agreements are renewed before the original agreement (the card) expires.
Why does my interest payment fluctuate?
Your interest payment may fluctuate due to changes in the interest rate, the amount of principal you owe, or the terms of your loan or credit agreement.
