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WHAT SHOULD I DO NEXT?

Posted by David Hicks | Sep 16, 2022

Over seventy million Americans struggle with debt in collections status, according to a study by the Consumer Financial Protection Bureau. So, if you have past-due credit card debt of your own, it might comfort you to know that you're not alone. From Dade County to Orange County to Hillsborough County to Duval County, Floridians are feeling the pressure of being overwhelmed with debt. If you have stopped making payments on your credit card debt, you could end up being subject to a lawsuit filed by your credit card company. Or maybe the debt has been sold off to a secondary debt buyer and you might instead be sued by them. How do you know if they really own the debt? How can you be certain the amounts they are claiming are accurate? While you may feel completely overwhelmed and at a loss for answers, it is not too late to protect yourself. And how do you do that? By speaking with the experts at Holland Law Group. We help consumers deal with their debt and provide the peace of mind that comes with knowing you have someone on your side.

If a credit card company or secondary debt buyer sues you, you'll need to decide if it's worth hiring an attorney to help you. In most cases, it is. Studies have shown that debtors with legal representation in a debt collection suit are much more likely to get a better outcome than those who don't. A lawyer can raise any defenses you have in court, negotiate with the creditor to settle the debt and inform you of your rights and responsibilities. You might want to try to negotiate a settlement of the debt, like by offering to pay less than you owe in one lump sum, but dealing with a creditor can be frustrating and time-consuming. An attorney can win the case outright for you or reach a mutually agreed settlement with the plaintiff. This could include negotiations with the creditor on your behalf to reduce the amount you owe and settle the suit.

Even if you think you don't have a defense to the lawsuit, you should consult with an attorney to understand what you're facing and explain what could happen. One thing is for certain: if you don't respond to the suit, the court will enter a judgment against you for the amount the creditor claims you owe. In fact, Courts routinely order debtors to pay accrued interest plus court fees, which can exceed the original amount owed. Other harmful consequences can include wage garnishment and the seizure of personal property. Don't ignore the problem. A judgment is enforceable for 20 years, which means it's not going away. Don't wait for that to happen.

Get sound advice from a licensed professional at Holland Law Group. Our attorneys can explain your case and provide in-depth specifics about what might happen in your situation. The credit card company will have their attorney in court. Will you?

About the Author

David Hicks

David Candler Hicks is from Tampa, FL. He received his J.D. from Loyola Law School in New Orleans, LA, and attended undergraduate studies at the University of Florida in Gainesville, FL. For the past ten years David has been representing clients facing foreclosure as well as credit card debt case...

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