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(This does not include debt eliminated by bankruptcy filings)

Collection Lawsuits Over Credit Card Debt

swiping credit card

Credit cards are meant to be used as a financial tool to help you in many ways; however, they can also be undeniable tools of destruction, leading to delinquencies, tons of late fees, collection lawsuits, and lots of stress.

Recent news shows that over half of Americans have outstanding credit card debt, falling in line with ongoing historical highs for consumer and household debt. While many consumers initially take on credit cards as emergency backup or to have for luxuries like going on vacation, renting a car, or more, far too often they just end up being a terrible burden—run up to the max and impossible to pay back due to overspending.

Often though, credit card debt is caused due to one or more personal crises too, rather than a problem with giving into temptation and overspending; for instance, if you have been ill (and this is especially relevant during these times of dealing with COVID-19) or were in an accident, you may have been forced to use credit cards for doctor or hospital visits, prescriptions, and even some medical procedures.

Family issues, divorce, and unemployment often cause debt to skyrocket as well. In the face of diminished income or no income at all, it can be impossible to pay back debts. This was especially true for many people in 2020 and has carried through into 2021, as tens of millions lost their jobs and had to start rebuilding.

Using credit cards as a temporary form of income leads to obvious problems—and quickly—especially as lenders do expect to be paid back, and sympathy only lasts so long. If you are being harangued by creditors and debt collection agencies who want their money, speak with an experienced debt protection attorney from a firm like Fitzgerald & Campbell, APLC as soon as possible to explore your options for getting back on track. This is especially true if you are being sued.

If you have received a summons and complaint, most likely you have 20 to 30 days to respond. This is very important! Without attending to a lawsuit, a judge could grant a default judgment against you almost automatically, leading to a lot more headaches.

Speak with an attorney from Fitzgerald & Campbell, APLC as soon as possible to examine your options. Our attorneys have decades of experience in serving clients as they navigate through challenging financial situations, to include student loan issues, bankruptcy, and other debt management processes. We are here to help! Click here to schedule a free 30-minute consultation, call us at (844) 431-3851, or email us at info@debtorprotectors.com.

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