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What Kind of Lawyer Do I Need for Credit Card Debt

Above all, do not wait until the last minute to organize your defense or speak to a qualified lawyer. You or your lawyer will need to draft a formal response to the lawsuit, and the court will set deadlines that you will have to meet. This option has several advantages and disadvantages. A debt consolidation loan may offer a lower interest rate than your credit cards, which means you might be able to pay off your debt faster and save money for interest. However, you still have to pay off 100% of your credit card debt plus interest. Options such as Chapter 7 bankruptcy can allow you to completely clear unsecured debts such as credit cards and medical bills. Discussing all viable options with your lawyer before using credit card consolidation services can help you make an informed decision that meets your specific needs. Under Texas law, maximum interest rates for credit cards are capped at 18%. These rates are reassessed from time to time. The Texas Debt Collection Act and the Federal Fair Debt Collection Practices Act (FDCPA) protect Texas consumers from harassment and fraudulent collection claims. Debtors can stop external collection agencies by contacting them in writing.

However, you reserve the right to contact the debtor about certain legal actions and may pursue recovery attempts, which may include filing a lawsuit. In most cases, yes. Although there are some exceptions, most unsecured debts are completely wiped out in the Chapter 7 bankruptcy. If you declare chapter 13 bankruptcy, you can only pay a small portion of your credit card debt and other unsecured debts. As a general rule, the remaining balance on your credit card will be charged at the end of the refund period. At the same time, it`s almost certain that your credit card company will report your account to credit reporting agencies – Equifax, TransUnion and Experian – so late. And if a debt collection agency is involved, you could also end up with an additional collection account on your credit report. Late payments, debit status, and collection accounts all have the potential to significantly devastate your credit score. The FDCPA requires collection agencies to provide you with written notice informing you that credit card debt is generally not guaranteed, a Chapter 7 bankruptcy can easily eliminate this debt. However, if the credit card company receives a judgment against you and then records that judgment, it becomes a judgment privilege. Trial privileges are treated as secured debts.

With a judgment privilege, this security can include anything you own, unless you have exempt equity in those assets. Credit card debt is an issue that affects millions of American consumers. Whether it`s a surplus of medical bills, job loss, or credit card fraud, there are many different circumstances in which a person may feel burdened with debt. If you are overwhelmed by credit card debt and are facing constant phone calls or other acts of harassment from debt collection agencies, Leinart Law Firm can help. Our experienced credit card debt attorneys in Dallas can thoroughly assess your specific situation and financial situation and offer you practical solutions to help you reduce or eliminate your debts. The FDCPA offers many protective measures. For example, debt collection agencies forbid calling you before 8:00 a.m. .m. and after 21:00.m.

It prohibits debt collectors from harassing you. The FDCPA prohibits debt collection agencies from contacting you if you have a lawyer to represent you in relation to these debts. Collection agencies should also stop contacting you if you send them a written request to stop. I was sued by a debt collection agency to recover a loan. Plus A judgment may allow the recovery of a debt by granting a lien on a debtor`s property, a garnishment of wages or a garnishment of property. That`s why it`s so important to have an experienced debt relief lawyer to help you understand your rights and make sure they`re protected. Our credit card debt attorneys in Texas have decades of experience in litigation in these types of cases. We offer a free initial consultation, so you really have nothing to lose when you contact the Leinart law firm.

If you are facing a credit card debt lawsuit, you should contact a civil litigation lawyer to discuss your options. When you`re overwhelmed by credit card debt, it`s hard to understand the different options available. That`s why we offer a FREE consultation in a quiet and thoughtful environment. Despite the fact that debt is somewhat common in debt collection, it could still have unpleasant consequences. If you default on your credit card debt and you are unable or unwilling to enter into an agreement with your credit card company, you may be subject to a collection lawsuit. « Be prepared when talking to creditors if you plan to do it yourself, and know that you have the right to talk to a lawyer, » Says Tayne. Just because credit card creditors are among the least powerful creditors doesn`t mean they`re the easiest to manage. Because they have fewer rights, credit card companies have to rely on more aggressive payment methods. As a result, they are a multiple of the ones you hear about the most. They are also the ones who charge higher interest rates and pile up tons of extra fees. They are, in fact, the « squeaky wheel in the hope of getting the most fat. » There are several ways to reduce credit card debt.

Trying to do it alone can be frustrating and time-consuming. While debt relief advice can help you better understand your financial problems, it won`t eliminate credit card debt. Know your options and take steps to get rid of credit card debt. These lawsuits, which are typically filed in state and local courts, are becoming increasingly common and can have devastating financial consequences. Salaries and bank accounts can be seized to recover the resulting judgments, which will continue to bear interest in the years to come. Four million Americans had their wages seized through consumer debt in 2013, and reports suggest that black communities are being hit much harder by debt collection lawsuits than others. Always remember until they go to court (and win); The creditor of the credit card has only one « claim » against you. As far as the law is concerned, it is only their word against your word that is due. If they don`t go to court to prove it (and win), they can`t grab your salary, put privileges on your house or bank accounts, or do anything to you. They can only call/email you and report you to the credit bureaus.

If you have a lawyer, they can`t even contact you. For many people, the backlog of credit card payments means a ruined credit score and an endless series of calls and letters from collectors. However, if you leave these calls and letters unanswered long enough, the credit card company may decide to take legal action. You shouldn`t assume that a debt is correct just because the company suing you puts it in a court claim. If you are being sued for unpaid credit card balances, debt relief attorney Leslie H. Tayne, Esq., founder and CEO of Tayne Law Group, P.C., recommends that you first ask the collector to review your debts to prove that they belong to you. Seventy million Americans are struggling with debt-collecting debts, according to a study by the Consumer Financial Protection Bureau. So, if you have outstanding credit card debt yourself, it could reassure you that you are not alone. If you receive a notification of a lawsuit, you will only have a limited time to respond. If you don`t respond, the creditor can get a default judgment against you.

Each state has laws that limit the time that can elapse in which a debt can be recovered. These laws are called limitation periods. These deadlines vary from one State to another. The trigger event that triggers the period also differs from state to state. In cases where a court finds that the debt is time-barred because of the statute of limitations, the court will dismiss the case. Your answer is where you will increase your defense. The most obvious defense is that you don`t owe the money. This defense is rarely available because credit card companies are not known to sue people who don`t owe them money. Among the most common objections is the fact that the debt is time-barred due to the statute of limitations, identity theft, and/or a debt collector who has violated the FDCPA.

Lawyers for credit card companies are often willing to make an offer to settle debts for less than the total amount owed once you have responded to their collection request. They can offer this option because they want to save the cost of the process. It is also important to remember that some companies that claim to offer debt settlement services are scams that unfortunately exploit people in vulnerable financial situations. If you`re considering hiring a debt settlement company, be sure to do some thorough research. If a company gives unrealistic guarantees or asks you to pay fees before paying your credit card debt, avoid them at all costs. To make matters worse, credit card companies will repeatedly call you to find out when you can make your monthly payment. Because a credit card company is an original creditor, except in rare cases, you may not be protected from certain collection activities by the Fair Debt Collection Practices Act (FDCPA). Credit card debt consolidation involves taking out a single loan to pay off multiple credit cards with a monthly payment.

This can be done through a credit company or a credit card debt consolidation service. Free, low-cost legal services are also available for people whose income is below certain thresholds. .