The Truth About Debt Collection Lawsuits

If you are being sued by a credit card company or debt collector, you must act fast. You only have days to file and answer. If you do nothing, the debt collector or credit card company will obtain what is called a default judgment as a result of your failure to respond. A default judgment is a ruling by the Court that you owe the debt buyer the money. Once they have a default judgment they can garnish your wages or bank account, or come after your assets to pay the judgment.

Usually these lawsuits are filed by debt-buyers. A debt-buyer is typically a corporate entity that pays pennies on the dollar for large portfolios of charged-off consumer credit obligations, like credit cards. The debt-buyer then attempts to force unsophisticated and unrepresented individuals into settling or by getting judgments against consumers who fail to respond to lawsuits. Often these debt-buyers have little or no documentation or support from the original creditor that establishes that they are entitled to collect the debt. Because of this, you should seek an attorney to represent you and hold them to their evidentiary burden under the law. Very few debt-buyers have the evidence required to prevail at trial.

Do not allow these debt-buyers to intimidate you. You have rights and they have the burden of proving you owe the debt before you have to pay them a dime. Call our office today to discuss how we can help you defend against a collection lawsuit.

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