Our office aggressively defends credit card companies that sue you over old credit card debts. In fact a large number of our clients have not filed for bankruptcy because they only had one or two large credit cards debts that we were able to resolve for them.
If you are being harassed or have been served with a lawsuit from any of the following companies please call our office immediately.
Midland Funding, CACH LLC, Portfolio Recovery Associates, LVNV Funding, Cavalry SPV 1, LLC, Asset Acceptance, Capital One, FIA Card Services, HSBC Bank, Discover Bank, Barclays Bank, One Main Financial, Professional Bureau of Collections, Federated Law Group, American Express, Fulton Friedman, Main Street Acquisition Corp, Marcadis Singer Law Firm, law offices of Erskine & Fleischer and other law firms.
If you have been served with a law suit you only have 20 days to file a written response to the law suit and file it with the clerk of the court in the county you live. If you do not do this the creditor can obtain a default judgment against you without further notice. A judgment can lead to garnishment of your wages or bank account.
Some of these companies are known as “ junk debt buyers”. According to Peter A Holland a professor of law at the University of Maryland School of Law, “ members of this $100 billion per year industry exist for no other reason other than to purchase consumer debt which others have already deemed uncollectable, and then try to succeed in collecting where others have failed”
These debt buyer pay only about 5-7 cents on the dollar from other companies and then sue you the debtor at the default interest rate of the credit card you had which in some cases can amount 28% or more! This industry is huge. According to a recent report from the Research Department of the Federal Reserve Bank of Philadelphia, approximately 30 million American consumers had accounts that were subject to third party collections. (Federal Reserve Bank of New York, 2011).
In quite a few cases an aggressive defense of these lawsuits can cause the creditor law firm to dismiss the case entirely or at least settle the case for less than they claim you owe them. We can represent you in these cases while you are considering whether to file bankruptcy or not.
If you are facing the possibility of being sued by a junk debt buyer please contact me at the Law office of offices of Laurence A Steel. As an Ocala bankruptcy lawyer with 29 years of experience I have helped thousands of clients facing legal action.
I will review the law suit to see if the company suing has attached the required documentation that is necessary to prove their case. Although the creditor might say that they have attached all the required documentation it requires an experienced lawyer to determine if their claims are true.
Call my office to make a free appointment to discuss the option that might be available to you. We offer payment plans in all cases and our fees are reasonable and adjusted to meet your income.