Credit Card FAQ

Sued for Non-Payment. What can I do?

9 August 2010 by CreditCardsCo™

If you own a credit card, there is always a fear that you have to deal with for the rest of your life which is whether or not you will be able to keep up with the repayments of the credit card or not. It is for this very sole reason that many people try avoiding taking out credit cards in the first place. If you do decide to apply for a credit card, it is important that you consult an advisor to make sure that you will be able to afford the monthly repayments and that you needing a credit card is absolutely compulsory. In cases where you are not able to keep up with repayments of your credit card, the lending company has the right to sue you for non-payments. If you are finding yourself in a similar situation, we are going to state certain things that you should do in order to protect yourself.

One of the first things that you have to realize about getting sued for non-payments by your credit card company is that there is a very high chance that you will end up losing the case. In most cases, many people don't realize that there are certain things that they can do to fight the cases by protecting themselves against their assets being seized. Due to this lack of knowledge, most similar cases end up being lost by the one being sued by default.

The most important things to remember when getting sued for non-payment from your credit card company are to respond to the summons that you receive. Also make sure that you apply for all possible exemptions in regards to your property that you are eligible to under the state laws. The laws are known to vary depending on where you live which is what leads me on to my next point. The process of getting sued by a lending company and ways to avoid possible seizure of your property is quite complicated and requires a lot of technical knowledge. For this very reason, it is highly advised that you look to get some form of professional help. The best option would be to hire a lawyer that has expertise in the financial market. They will be able to assess your personal situation and see whether or not what can be done to resolve your matter.

In most cases where you have been sued by a company for non-payment, the chances are that you will lose the case as it is your sole responsibility to meet repayments for credit that you have used. However, there are a number of ways that your damages can be removed by as well. This is where the benefit of expertise help will come into play. They will be able to advise what course of action should be taken and how to go about it in order to reduce your damages by as much as they can be reduced by.

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