attorney who fights credit card company

How do I sue my credit card company?

Complain to Consumer Financial Protection Bureau. The CFPB began accepting complaints against credit card companies in 2012. You can file a complaint on-line, by phone or by mail. You should also file the same complaint with your state Attorney General.

Can I negotiate credit card debt after being sued?

Summary: Yes, you can settle after service. The best way to settle a debt lawsuit is first to file a response, then contact the otherside and make an offer.Feb 22, 2022

What is the average settlement for credit card debt?

According to the American Fair Credit Council, the average settlement amount is 48% of the balance owed. So yes, if you owed a dollar, you'd get out of debt for fifty cents. But the average amount of debt enrolled is $4,210 and the median amount is $25,250.

Do you have the right to settle credit card debt?

Credit card debt is typically unsecured debt, meaning a credit card company can't come after your assets if you fail to pay what you owe. Since credit card companies don't have this recourse, many are willing to negotiate a settlement with customers to recoup as much of the debt as possible.Mar 22, 2022

What happens if I can't pay a judgement?

If you do not pay, the creditor can start collecting the judgment right away as long as: The judgment has been entered. You can go to the court clerk's office and check the court's records to confirm that the judgment has been entered; and.

How do I not pay a judgement?

You might be able to prevent collection of a judgment by negotiating with the creditor or claiming property as exempt. If a creditor sues you and gets a judgment, it has a whole host of collection methods available to get its money from you, including wage attachments, property levies, assignment orders, and more.

What is the lowest a credit card company will settle for?

When you're negotiating with a creditor, try to settle your debt for 50% or less, which is a realistic goal based on creditors' history with debt settlement. If you owe $3,000, shoot for a settlement of up to $1,500.Jun 11, 2021

What is the lowest a debt collector will settle for?

around 50%A debt collector may settle for around 50% of the bill, and Loftsgordon recommends starting negotiations low to allow the debt collector to counter. If you are offering a lump sum or any alternative repayment arrangements, make sure you can meet those new repayment parameters.

What percentage of debt will collectors settle for?

Typical debt settlement offers range from 10% to 50% of what you owe. The longer you allow debt to go unpaid, the greater your risk of being sued. Creditors are under no obligation to reduce your debt, even if you are working with a reputable debt settlement company.

Who qualifies for debt settlement?

The Federal Reserve Board says that 7.1% of credit card debt was 90 days past due in Q4 of 2016. The Fed categorizes that debt as “seriously delinquent,” which makes it eligible for debt settlement. About 26% of U.S. adults had trouble paying medical bills in 2016, which also are eligible for debt settlement.

Is it better to settle or pay in full?

It is always better to pay off your debt in full if possible. While settling an account won't damage your credit as much as not paying at all, a status of "settled" on your credit report is still considered negative.Apr 16, 2021

Will credit card companies sue you?

Yes, a credit card company can sue you if you don't pay your credit card bill. While this is usually a last resort because of the time and money involved, it becomes more likely the longer an account is unpaid. Since credit card debt is unsecured debt, the creditor needs a judgement to collect from you.

Protecting Your Credit Card Rights

Credit cards are dangerous investments. The high interest rates, fine print and penalties are only the beginning of the problem for credit card holders. It is common for credit card companies and their collection agents to violate federal collections regulations and harass debtors.

Credit Card Lawsuits

Dealing with credit card debt is normal. Many Americans carry debt of this kind. However, being sued by a credit card company is the exception.

Who is Serena Siew?

Serena Siew is an attorney with a specialty in immigration defense and legal writing for the general public. She is a member of the State Bar of California and admitted to practice before the California Supreme Court, the U.S. District Court for the Central District Court of Cali... read more about Attorney Serena Siew

Can you file a bankruptcy claim against a credit card company?

You may even have a claim against the credit card company or debt buyer for having violated either the automatic stay or bankruptcy discharge injunction.

What is consumer protection lawyer?

Consumer Protection Lawyers Who Handle Credit and Debt Problems. Just because someone is a lawyer doesn't mean he or she is knowledgeable in the area of consumer law. If you are going after a credit bureau, original creditor, or collection agency, you need to talk to a specialist in this field. Similar to the medical field, ...

What do lawyers specialize in?

That's why lawyers specialize in fields such as criminal, family, corporate, accident/injury, tax, and credit law. Just as you wouldn't ask a divorce lawyer to handle your credit case, you wouldn't ask a heart specialist to do brain surgery, at least we hope you wouldn't.

What is the Fair Credit Billing Act?

The Fair Credit Billing Act (FCBA) has put rules and regulations in place to: Aid in proper billing practices. Require instant correction of any billing error. Protect all consumers and their credit scores while disputes with credit card companies are settled.

What are hidden fees?

Hidden fees include any fee that the consumer is unaware of that is tied to the use of the credit card in which they use. These hidden fees can include fees for: 1 Cash advances 2 Cash withdrawals from ATMs 3 Balance transfers 4 Convenience checks attached to the credit card 5 Foreign transactions

What is double charging?

Double charging occurs when a credit card company charges the consumer twice for a single service or item. Some credit card companies hold payments and do not deposit them until the payment is late. This lets the company charge for additional fees.

Can credit card companies charge late fees?

Several states have usury laws disallowing credit card companies to charge late fees. Credit card companies will get around these laws by setting up their headquarters in states where the usury laws allow charging for late fees.

What to do if you are sued for a lot of money?

Consider hiring an attorney. You should consider hiring a consumer law attorney if the lawsuit involves a lot of money or you don’t feel comfortable representing yourself in the legal process. You can locate attorneys in a number of ways, including: Referral from friend or family member.

What happens if you don't pay your credit card bills?

If you stop making payments or you fail to pay your bills on time, the credit card company or a debt collector may file a lawsuit against you.

What is a complaint in court?

When a lawsuit is filed against you, you will receive a document called a Complaint. The Complaint sets forth all of the allegations against you. In order to fight this lawsuit, you must answer the Complaint within a certain amount of time set forth in the court’s rules.

What is a caption in a court case?

While court rules may differ, most Answers will include the following: A caption on the first page. The caption identifies the parties in the lawsuit, the name of the court where the lawsuit was filed, the lawsuit/case number and information identifying the type of document.

Can a credit card company garnish wages?

If this happens, you must respond to the lawsuit or the credit card company will win a money judgment against you and can potentially garnish your wages. Whether you hire a lawyer or take on the credit card company yourself, there are steps you can take to fight the credit card company’s lawsuit. Steps.

The Other Side Is Unprepared

Most law firms that represent credit card companies in lawsuits do no more advance planning than getting a computer file and dumping the information into a form Complaint to be sent off to the court.

Credit Card Lawyers Are Overburdened

Each law firm files thousands of these cases each year, which is far more than they can reasonably handle – unless it’s reduced to a simple assembly-line cranking out documents on one side, default judgments on the other. All it takes is a printer and a few administrative employees to push that much paper through the door.

Credit Card Lawsuits Are Filled With Problems

Credit card debts are sold repeatedly before a lawsuit is started against you. As we’ve discussed in the past, most of the time these sale transactions occur without any documentation being passed from seller to buyer. By the time someone files a lawsuit, the paperwork is nowhere to be found.

Settlement Or Dismissal Looks Like A Pretty Good Idea

It’s like a poker game. Sue and get a default – a winner! Do it thousands of times a year – major winner!

In the Right Hands, A Fight Is A Better Idea

If you get sued by a credit card company, you can do nothing and face the consequences. Or you can call a lawyer who knows how to defend the case and get a better result.