Credit Card Lawsuit – What to Do
Going off the limits of a credit card is a big problem with card holders. Sometimes, they just keep on swiping their cards and do not think long and hard on the interest and the bills that they have to pay. And when the time, or the mail, comes in, they start to regret ever using their cards because of the amount on the bill. A credit card lawsuit happens when the card owner has already been sent a formal letter demanding that they pay their credit in a certain amount of time or legal actions are filed against them. Sometimes, people do not know what to do and just ignore it. This will only cause the hole to get bigger and the card owner might end up with more penalty fees, more debts or in jail.
Here is a step by step process in getting the credit card lawsuit done with.
Do Not Panic
This is the worst thing you can probably do. Everyone who has a credit card has a chance to get a credit card lawsuit, so these things happen every day. Gather all your credit documents, such as receipts, bills, etc, and add up how much money you really owe. Now that you know the amount, you can move on to the next step.
Get a lawyer
Getting someone who knows the law and has had experience in these situations is the biggest help you can get. You will have to pay for his or her services but you are assured that they will help you all the way. They will explain to you what could happen if you do not deal with the lawsuit. Ask them what you can do in the situation and they will give you the best advice. They will also help you in the legal paper works, filing and organising documents needed for the case.
Pay off the debt
Agree on settlements with the credit company. Work with how much money you make in a month and pay off your debt. It might take some time to finish but you will get there eventually. You don’t have to pay it in one bulk. Talk to the credit company and request that you only pay a certain amount per month for a certain amount of time. Be reasonable with them and always ask advice from your lawyer before you settle for anything.
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