How To Fight A Credit Card Lawsuit1. Do Nothing This is NOT the way to respond to being sued for a credit card consumer debt. Doing nothing will result 100% of the time in a default judgment being issued against the consumer. This judgment will remain on a consumer’s credit report for 10 years! Also,…
Credit Card Interest Rate Reduction Scams Credit Card Interest Rate Reduction Scams Voice mail boxes across the nation are being clogged with prerecorded phone calls from companies that claim to be able to negotiate significantly lower interest rates with your credit card issuers if you just pay them a fee first. The Federal Trade Commission…
Discharging a Debt The only way to judicially “discharge” a debt is to complete a bankruptcy through either chapter 7 or chapter 13 of the U.S. Bankruptcy Act. The final Order in such a proceeding, signed by the Bankruptcy Judge, orders that all debts listed by the debtor are “discharged”. There is much confusion as…
Federal government fines portfolio recovery associates $8 million! After the 2008 financial crisis, Congress created the Consumer Financial Protection Bureau, as authorized by the Dodd–Frank Consumer Protection Act, as the only federal agency with the sole mission of protecting consumers in the financial marketplace. The Consumer Financial Protection Bureau (CFPB) is an independent agency of…