What To Do When You Are Being Sued By Credit Card Company

St. Louis Consumer Protection Lawyers

Posted on April 16, 2019 by Admin

Being sued by credit card company for unpaid debts can be demoralizing and frightening but it shouldn’t scare you into inaction. By confronting the situation head-on, you can find a solution that works for you. If you have been sued by your credit card company, it is in your interest to contact Halvorsen Klote. Our experienced St. Louis debt collection attorneys have settled lawsuits with credit card companies for a fraction of the original debt and helped our clients move on with their lives.

Don't let a credit card lawsuit overwhelm you; take proactive steps to manage your situation effectively. Whether you are dealing with debt collection practices that seem aggressive or simply need guidance on how to respond to being sued by a debt collector, we are here to help. Contact us today if you need a consumer protection lawyer!

What To Do If Your Credit Card Company Is Suing You

If you’re currently facing a lawsuit from your credit card company, you have a few options. First, you can contact the credit card company yourself and try to settle the debt. Because most credit card companies would rather get paid than spend time and money on legal proceedings, you do stand a chance of being able to stop the lawsuit by negotiating with the company and reaching a settlement. Settling your credit card debt directly with the credit card company can sometimes be achieved without the need for legal intervention, saving both parties time and expense. When negotiating, it's crucial to be aware of your rights under the debt collection practices act and ensure that any agreement reached does not adversely affect your credit reporting.

Tip: Negotiating with a credit card company can be time-consuming and extremely stressful. If you do go this route, stay committed, and make sure that you don’t agree to anything that isn’t in your financial best interests. When attempting to settle your credit card debt, ensure that any agreement reached is documented in writing to protect yourself from future claims. Additionally, be mindful of how any negotiated debt settlement might impact your monthly payments and overall financial planning.

Alternatively, you can file for bankruptcy. If you choose to file for Chapter 7 bankruptcy, you will be released from the debts you owe to your creditors. For those that are being sued by credit card company, this may actually seem to be one of the most attractive options. Filing for bankruptcy can provide a fresh start by eliminating your unpaid credit card debt and stopping the credit card lawsuit in its tracks. It's important to understand the long-term implications on your credit reporting and financial health before proceeding with bankruptcy.

Tip: While the idea of a fresh start and freedom from credit card debt may tempt some into filing for bankruptcy, this is not a decision to be taken lightly: bankruptcy can hurt your credit, put your assets at risk, and in some cases, could affect your employment options in the future. Make sure to explore all possible alternatives to be sure that this truly is the best option for you. Filing for bankruptcy should be considered only after you have exhausted all other options to settle your credit card debt.

You can (and probably should) hire an attorney. When you’re being sued for unpaid debts, the credit card company is being represented by legal experts who are working in the best interests of the firm. It makes sense, then, that you should also be represented by a legal expert who is working in your best interests. A consumer protection attorney can help navigate the complexities of a debt collection lawsuit and ensure that your rights under the debt collection practices act are upheld. Having legal representation can significantly improve your chances of achieving a favorable outcome in a debt collection lawsuit.

Our consumer protection attorneys can help you understand your rights when you’re being sued by credit card company. Moreover, unlike debt settlement companies and credit counseling services, a consumer debt lawyer can give you advice, represent you in court, and settle your debt with the company often for pennies on the dollar! This means that even if you are sued by a debt collector, a skilled attorney can negotiate a much lower settlement, helping you manage your unpaid credit card debt more effectively.

Tip: Worried you can’t afford the cost of an attorney? Don’t be. Consumer protection attorneys understand the situation you’re in; after they’ve negotiated down your debts and settled the lawsuit, they’ll work with you to create an affordable payment plan. In fact, some federal statutes allow consumers to have their attorney’s fees paid by the debt collector or creditor. In other words, you usually don’t have to pay a dime. Many attorneys offer flexible payment plans to help you manage your monthly payments while resolving your debt issues, ensuring that you can afford the legal help you need without adding to your financial stress.

If you’re being sued by credit card company for unpaid debts, call us today at 1-877-51-HKLAW (877-514-5529). We’ve worked with hundreds of clients just like you, and credit card companies know that we mean business. We’ve settled lawsuits by credit card companies for a fraction of the original debt and helped our clients move on with their lives. Don’t let a credit card company take advantage of you get in touch today for a free consultation and let us help you take control of your financial future. With the right legal support, you can navigate the challenges of a credit card lawsuit and emerge in a stronger financial position.