Many credit card companies have become much more aggressive when trying to collect on delinquent accounts. These non-performing, bad debts add up to a billions of dollars that the companies want off their books. Remember that credit card account that you have not been able to pay on for months? The chances are very high that the account will be turned over to a law firm that specializes in collecting bad debts. As a matter of fact, many law firms are taking these companies on as clients for only one reason; that reason being, collection of delinquent accounts.
It is very unsettling to think about the fact that the chances of you being sued by your card company is now much greater than it was before, but what is even more unsettling is knowing the basis for the suit against you is information that is flawed, inaccurate and incomplete. In an article recently written for the New York Times, a reporter for the Times, Jessica Silver-Greenberg says, “Credit card companies are taking consumers to court over debts without regard to accuracy”. Jessica goes on to say that “the credit card companies are churning out consumer lawsuits based on erroneous documents and incomplete records.”
In her article, Jessica quotes Noach Dear, Judge for the New York state court who has heard hundreds of cases like these as saying, “I would say that roughly 90 percent of the lawsuits are flawed and can’t prove the person owes the debt.” It is quite obvious that the evidence is overwhelming regarding the importance of hiring a lawyer to represent you in dealing with your credit card debt. It is equally important that you hire only an attorney who is licensed to practice law in your state, where you live and only they are allowed to represent you in court should a suit be filed against you.
In addition, you should understand that it is not legal for a debt settlement company to represent you in court. Also, if you decide to attain help from an “attorney based” debt settlement company, it is vital that you make certain the provider is an attorney who is licensed and practicing in your state.
Understanding the laws of debt in the United States is incredibly important. When facing a lawsuit on credit card debt, it is vital to trust the person you hire whom is representing you in the court of law.