It is never a nice surprise to find out that you are being sued by a credit card company. I know from my own experiences. Learning that you are being sued can increase the already high levels of stress that you are experiencing trying to manage your credit card debt. For me the most troubling thing when faced with these lawsuits was the fact that I had literally no knowledge about how to deal with the situation.
One of the first things to understand when being sued by a credit card company is that the company's motivation is to make as much money as possible. If you are being sued it usually means that they feel that it is the only possible way to collect on your account. In some cases this is not true. Citibank, for example, sues almost any of their customers who default on their payments.
If you are not dealing with a creditor like Citibank, you will stand a much higher chance of avoiding a lawsuit. A terrible mistake that I see made all the time by consumers is that of sending cease and desist letters. This is one of the worst things that you can do when trying to avoid a lawsuit!
The most important thing to remember when you are in credit card debt trouble is that you want to do everything possible to avoid being sued by a credit card company. Once you are sued the likelihood of receiving a good settlement are drastically decreased. I understand that sometimes being sued is inevitable. If this happens to you it does not mean that all hope is lost. You just need to get more information and knowledge to help you through the lawsuit successfully.
Here is a basic outline of what will happen if you find yourself being sued by a credit card company. First, the initial complaint will be filed against you, which will then be followed by a flurry of motions. These motions can range from motions to dismiss to motions for summary judgment to motions to strike. After you navigate yourself through the motion stage you will then need to write up answers for each individual complaint and file them in the proper way.
When drafting answers to complaints, do not cut corners or ignore important formatting rules. These answers will play a major rule in whether or not you receive a favorable judgment in the lawsuit. Investing time in this stage will be a blessing in the stages to come.
One of the first things to understand when being sued by a credit card company is that the company's motivation is to make as much money as possible. If you are being sued it usually means that they feel that it is the only possible way to collect on your account. In some cases this is not true. Citibank, for example, sues almost any of their customers who default on their payments.
If you are not dealing with a creditor like Citibank, you will stand a much higher chance of avoiding a lawsuit. A terrible mistake that I see made all the time by consumers is that of sending cease and desist letters. This is one of the worst things that you can do when trying to avoid a lawsuit!
The most important thing to remember when you are in credit card debt trouble is that you want to do everything possible to avoid being sued by a credit card company. Once you are sued the likelihood of receiving a good settlement are drastically decreased. I understand that sometimes being sued is inevitable. If this happens to you it does not mean that all hope is lost. You just need to get more information and knowledge to help you through the lawsuit successfully.
Here is a basic outline of what will happen if you find yourself being sued by a credit card company. First, the initial complaint will be filed against you, which will then be followed by a flurry of motions. These motions can range from motions to dismiss to motions for summary judgment to motions to strike. After you navigate yourself through the motion stage you will then need to write up answers for each individual complaint and file them in the proper way.
When drafting answers to complaints, do not cut corners or ignore important formatting rules. These answers will play a major rule in whether or not you receive a favorable judgment in the lawsuit. Investing time in this stage will be a blessing in the stages to come.
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Looking to discover the perfect information on what to do if your being sued by a credit card company, then go to http://www.creditcarddebtlitigation.com for the perfect Credit Lawsuit information out there..
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