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Credit Card Companies Frequently Test Their Rights

  • Mar 18 2014

Does this recent California credit card lawsuit serve as an indicator of consumer frustration?

Credit card companies and debt collection agencies often push the bounds of legality when pursuing payment for overdue loans and sometimes cross the line between “aggressive” and downright “harassing.” As the recent case Epstein v. JPMorgan Chase & Co et al, U.S. District Court, Southern District of New York indicates, sometimes consumers reverse the dynamic and bring the harassment to the credit card company.

In 2013, California resident Stanley Epstein slightly overpaid the full balance of his JPMorgan Chase & Co. credit card. He then did not use the credit card for five months, only to see that his positive credit balance was erased via JPMorgan’s “purchase interest charge debit adjustment.” In July of last year, Mr. Epstein sued JPMorgan for the “erased” balance, only to have his case dismissed by the U.S. district judge handling the case, as reported by Fox News.

The fairness of JPMorgan’s actions in this case is debatable. What is not debatable is that, despite the consumer protections brought about by the passage of the 2010 Consumer Protection Act and the creation of the Consumer Financial Protection Bureau, credit card companies and debt collection agencies have numerous legal tools at their disposal to aggressively handle matters relating to your account, including debt collection. In many instances, credit card companies and other creditors have a right to:

  • Contact you repeatedly
  • Sue you (and garnish your wages and draw funds from your savings and checking accounts if they win)
  • Sell your debt to another company or agency

If you have questions or need assistance due to the actions of a creditor/debt collector, contact Orange County, California, debtor protection law firm Fitzgerald Campbell. We offer affordable, practical and timely solutions to the above challenges, and more. For example, is a creditor relentlessly contacting you? Creditors can only contact you between certain hours, and they can’t contact you at all if you’ve hired an attorney. Have you been sued by a credit card company? There’s a big divide between a creditor’s claim against you and a court-ordered judgment against you. And if your alleged debt has been sold to another party, we can work to quickly point out documentation and factual errors made in the transaction or to negotiate a penny-on-the-dollar settlement.

The laws surrounding debt collection are confusing, and it’s hard to navigate it successfully without sound legal help. We are here for you. Schedule a free consultation by calling (866) 927-8289.

Posted in: Credit Card Lawsuits, JP Morgan Chase