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Over 70 Percent of Consumers Have Dealt with Debt Collections

  • Oct 18 2019

As household debt in the United States continues to rise to historical highs, obviously many individuals and families are struggling to make ends meet–and may end up on debt collections. Far too many consumers are living paycheck to paycheck, and sometimes that income is not enough to make ends meet at all, especially as cost-of-living continues to increase and raises from employment sources either are not available at all or are too minor to make a difference.

Recent news states that 70 percent of consumers have dealt with debt collections. While most consumers experience financial difficulty at some point in their lives, that usually signals a serious issue with a lack of income. It doesn’t take long for a creditor to jump on the bandwagon for collections activities, either. This usually means that mail increases, as does the threatening tone, escalating over time and as non-payment continues. Phone calls may become extremely pesky, coming in from different numbers on recorded lines, with pressure to pay up or set up some sort of alternative repayment plan.

Data shows that around 25 percent of consumers feel threatened by debt collections agencies, with their language ‘sparking fear,’ and obviously this intensifies with threat of a lawsuit. If you are involved in this type of scenario, contact a debt protection attorney from Fitzgerald & Campbell, APLC as soon as possible to understand your options and take action before the situation gets any worse. Like so many others, you may also be dealing with a creditor that likes to sue—and they are good at pumping out the lawsuits each year.

If you do receive a summons and complaint, it is critical to contact an attorney to ‘answer’ within the allotted time (usually 20 to 30 days) so that you make it clear you are paying attention, responding, and will be in court. You may be surprised to see how quickly the creditor drops out altogether simply upon discovering you are going to fight! Without a reply, you make yourself extremely vulnerable to further, extremely negative repercussions in the form of a default judgment. If a judgment is granted against you the creditor can look forward to garnishing your wages and levying both assets and checking accounts.

Our attorneys have decades of experience in serving clients as they navigate through challenging financial situations, to include collection lawsuits, default judgments, and more. Let us review your case and discuss what would work best for you. We are here to help! Click here to schedule a free 30-minute consultation, or call us at (855) 709-5788, or email us at info@debtorprotectors.com.

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Posted in: Credit Card Lawsuits, Debt Collections