Credit Card Debt Evaluation and Defense
New York Credit Card Debt Attorney
Do you know of a good New York credit card debt attorney? The Lawyer James attorneys do just that: we defend good folks like you who have defaulted on credit card debt. I once heard and I cannot remember quite where that in financial matters at least we need not be judged for our past acts but what we are going to do by cleaning it up going forward. This certainly applies to credit card debt. There are facts and factors in life that come to light where, despite the fact that we want to pay our credit card debt, we just cannot. When it comes down to questions like, for instance, should I put food on my table? Should I feed my children? Should I pay my rent? Should I go to the doctor? Should I be concerned about my health and focus on my health? On the one hand, and then be faced with the alternate question of how to spend those limited resources and instead of paying my credit card debt, the answer should be self-evident. The credit card debt, while critically important, and something that we do certainly honor and appreciate, unfortunately has to take a lower priority so that we can get our lives in order and take care of our short-term survival needs. We understand that.
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You are not alone. There are a lot of folks that have credit card debt that is insurmountable that seems to have overtaken their lives. A good New York credit card debt attorney knows that landscape or should know that landscape and advise you accordingly.
There are a number of ways that we get involved with credit card debt. The first stage is I would say the prelitigation stage. This is the stage where you know that you’ve defaulted, you know that you owe credit card debt, no lawsuit has been filed, but there are regular collection calls. The second is where a court case has been filed, you have been served, and you need to respond. The third is where the litigation is well underway; perhaps you filed an answer or responded yourself, or you didn’t answer at all and there is a default judgment. Generally there are other phases of litigation or a credit card issue, however, these are the top three and we at The Lawyer James know of plenty of a good New York credit card debt attorney or two available in our own office that can help you navigate through this process.
Now a lot of people ask our office, do I really have to repay this debt? Can I get a discount? what happens if I do nothing? So let’s take these questions in order. Do I really have to pay this debt? The answer is yes, subject to a few exceptions, which are rarely applicable. These exceptions include, but are not limited to, identity theft or somebody taking out the debt in your name. Most people who call us have received the benefit of debt and are therefore responsible for repaying it. However this is not the end of the world and we can help you with a path forward. The second question, can I get a discount, is a very good question and one that I want to focus a little bit of time on now and when people speak with me on the phone. It is very important during this process that you have a good idea of what your financial situation looks like. What this means is when you get on the phone with us you should have a general Financial picture of your life ready to discuss. This means what your monthly income is, what your monthly expenses are, and what the difference is, if any. Also important is employment history, employment status, and other debt and other bills. in terms of the question what happens if I do nothing, that is the worst of all and the bottom line is that there will be a default judgment that’s likely entered against you, which means that your bank account can be seized or frozen or garnished, subject to the consumer protection laws that are in place.
What we found over decades of representing clients in New York is that the best thing to do is to hire a New York credit card debt attorney to guide you through this process and to see it through. A good New York credit card debt attorney knows the tricks of the trade, knows the process, and knows how to take this in some cases extreme burden off your hands and deal with it directly for you on your behalf to the highest and best of his or her ability. one more note on the question above which was can I get a reduction in my debt, the answer is sometimes. It all depends on what your financials look like as well as the guidelines at that time at that very moment for the particular debt that you have and who owns it. Which raises another issue, and that is that this debt is often traded from one lender to another depending on the quality of the paper, which means the quality of the debt, which means is it likely to be repaid or not.
Even if there is a judgment that is entered against you it is not the end of the world. there are certain procedural tools in place that we can employ to help you go so far as reversing the judgment. The legal term for this is vacating the judgment, and the process for that is often initiated by an order to show cause. and typically credit card lenders and the people who buy that debt are not out to screw you. They are just out to get repaid and they typically will agree to accommodate you such as vacating the judgment and even noting it on the credit reporting through the credit reporting process. There are always exceptions. You cannot take anything that we were saying here as gospel or as a written rule and you really need to speak with a New York credit card debt attorney to discuss your particular circumstance.
We can certainly help you, give us a call at 212-500-1891. We look forward to speaking with you.