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Credit Card Corporations Are Skilled at Seeing Debts Paid—Or Default Judgments Granted

credit card corporations
  • Oct 30 2019

Credit card companies may court you heavily at the beginning of your journey to developing a credit score; in fact, this relationship often starts out on an incredibly positive note, as these large lending corporations attempt to send you credit cards and even foist large amounts of credit upon you for spending at will, or whim.

Is the corporate agenda truly evil? Do they hope you will max out your credit cards on vacations, new clothes, eating out, and maybe even a new car or a super large ticket item and then plummet into financial ruin owing them your firstborn child? Perhaps, but the bottom line is that most consumers do go into some amount of credit card debt at some point, and many of them get themselves into serious trouble. If you are at that point already, consult with a credit card debt attorney as soon as possible.

Money management is critical to a healthy financial future, but if you have found yourself teetering on the edge of filing for bankruptcy with debt collectors calling night and day, you may be dealing with a larger problem even, to include a serious illness or accident, unemployment, divorce, or other serious family situations which may have affected your income substantially. Student loans may have made it very difficult for you to get ahead also, and in fact today over 45 million borrowers are in cumulative debt over $1.6 trillion.

In the event that a collections lawsuit is launched against you and you do not reply or do you not win, a default judgment means that the creditor can take much more aggressive action to see their debt satisfied. This means garnishment of wages, levying of bank accounts or personal property, as well as the possibility of seeing assets sold off at public auction. Many creditors are simply used to default judgments being granted, giving them ten years to collect through more empowered action—with the opportunity to extend the judgment for ten more years after that.

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, call us at (855) 709-5788, or email us at info@debtorprotectors.com.

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Posted in: Credit Card Debt, Judgments