It is not uncommon for a credit card company to close the account of individuals who have failed to pay back money drawn against a line of credit. Closing an account simply means that a person no longer has access to the line of credit previously open to him. However, according to CBS Moneywatch, some credit card companies may suspend a person's account if he misses a payment. These can usually be reactivated without difficulty.
Contact the Credit Card Company
The first thing an account holder should do is contact the credit card company and inquire as why the account was suspended. Generally, the company will be able to identify under what grounds the account was frozen and by what means the account holder can reactivate it. In most cases, an account will be suspended if a person has not made her required monthly minimum payment, although suspensions could, theoretically, be imposed for other reasons.
Agree to a Payment Schedule
After determining why an account was suspended, an account holder should then determine how he can pay back the money so that the suspension is lifted. For example, the suspension may be in place until the monthly minimum has been paid; once the account holder makes a payment, he will again have access to his account. However, in some cases, particularly if the debt is steep, the person may have to negotiate a payment schedule with the company.
Determine How to Prevent Future Suspensions
After resolving the current suspension, the card holder should determine how to prevent future suspensions from occurring. For example, if the card holder incurred the suspension for forgetting to make a minimum payment on the account, he may wish to allow the credit card company to automatically withdraw funds from his bank account when a payment is due. Or, if he was unable to pay due to a lack of funds, he may want to take steps to decrease his debt load.
Contact an Attorney
When a credit card company suspends an account, it may or may not be acting according to the terms of its contract. While most credit card companies reserve the right to close a line of credit at their discretion, they may not reserve the right to freeze access to the account. If an account holder believes the company violated the terms of the credit card contract, he should contact an attorney with experience in contract law for counsel.