Defunct Credit Card? You're still responsible.
What happens to closed accounts? They stay on your credit report for 7 years (if derrogatory) or indefinitely, if good. It's all part of your record.
Because of their own financial problems, NextCard is closing hundreds of thousands of credit card accounts as of Wednesday, July 10, 2002. Even though you will no longer be able to use their credit cards, you're still responsible for outstanding balances. You can be sure someone will be designated to accept your payments, or to report bad credit if you're late.
NextCard customers: See your credit report, and what NextCard is reporting about you.
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