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Too Many Credit Cards May Lead to Collection Lawsuits

credit cards on a keyboard

While COVID-19 wreaked havoc on the health of millions of people around the world, it was also devastating to the finances of so many. For Americans, that meant hundreds of thousands of deaths, and millions who became ill and may still be struggling from long-term effects, as well as caretaking for family members and mourning the deaths of those who passed in very difficult times.

If you lost your job or went through a lot of financial stress at the outset of COVID, having one or more credit cards on the back burner may have seemed like your saving grace; however, credit card debt could be causing a lot of stress now—and especially if you had or have one or more cards. It is understandable that you may have been forced to use credit cards as income, especially if you were sick or injured, unemployed, or all of the above; however, credit card companies expect to be paid back in a fairly expedient manner.

Because there has been so much financial disruption in America due to COVID-19, this is also, strangely, a good time to be negotiating with creditors and debt collection agencies. With so many people unable to pay their bills for an extended amount of time, in many cases they are just glad to get paid at all and are much more amenable to payment plans, some set periods of time without interest, and lump-sum settlements at pennies on the dollar.

Speak with your credit card debt attorney about how to handle your current financial issues. If you have recently been served with a summons and complaint, time is a critical factor considering you only have 20 to 30 days to respond. Without any attention to the matter, chances are good that a default judgment will be granted against you. The temptation to procrastinate or just ignore these types of problems is understandable—and all too common—but you do not have to go it alone! With expert legal advice from a firm like Fitzgerald & Campbell, APLC you may be surprised at how quickly you are able to make a plan for going forward and say goodbye to the stress of haranguing creditors and debt collectors.

Time is of the essence though so that you are not left with bigger problems. Although you may not be too worried about anyone taking anything from you currently, keep in mind that with a default judgment, the creditor could have up to 20 years to work on seeing their debt satisfied. You could risk the potential for ongoing wage garnishments, and levying of bank accounts and personal property too, which could be sold off at public auction.

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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