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November 20, 2024
When you are facing a debt collection lawsuit by a bank, credit union, loan company or other creditor, the court's only focus is the evidence presented against you to determine whether the debt is valid and whether you owe the debt. Unfortunately, many clients mistakenly believe that explaining their financial difficulties, their other debt obligations or their lack of funds to the creditor's attorney, and, in essence, asking for mercy, will prevent the debt collection attorneys from continuing the lawsuit. However, financial hardship and other bills, or even a medical condition you are suffering, are not legal defenses to a debt collection lawsuit. So, simply calling the debt collection attorneys who are suing you is not a sufficient response to a debt collection lawsuit And your "hardship" circumstances will certainly not save you from a judgment. You can't rely on hardship or the mercy of the debt collection attorneys to avoid legal action because this just won't work to dissuade debt collectors or their collection attorneys. After all, their job is to get your money one way or the other, without regard to your personal circumstances. However, our experienced Credit Card Defense Attorneys can and will use your hardship circumstances as part of our negotiations on your behalf with creditors which will in fact help reduce your debt and help us make more suitable arrangements in the lawsuit we are handling for you. So, yes, explain your hardship circumstances toy us and we will use those circumstances to you benefit and as leverage in our negotiations with the debt collection attorneys who are suing you.
By websitebuilder November 18, 2024
You’re Not Alone: How to Navigate Credit Card Debt in New York and Find Your Path to Financial Freedom If you’re struggling with credit card debt in New York, it can feel like you’re trapped in a cycle that never ends. But take heart—you are not alone. Thousands of New Yorkers are facing the same challenge, and there are concrete steps you can take to regain control of your finances. With rising interest rates, inflation, and the high cost of living in New York City, credit card debt is more burdensome than ever. In fact, credit card debt in the U.S. reached record levels in 2024, with millions of Americans, including many in New York, finding it increasingly difficult to make ends meet. But despite the financial strain, there are resources and legal protections to help you find a way out. The State of Credit Card Debt in New York In 2024, many New Yorkers were and still are grappling with mounting credit card debt. Rising interest rates—sometimes exceeding 20%—have made it even harder to pay down balances, and this is compounded by New York’s high cost of living. Whether you're living in Manhattan, Brooklyn, or upstate, credit card debt can quickly spiral out of control, making it feel like there’s no way out. New York State has its own set of financial realities that you need to navigate. For example, if you're in Manhattan, where the cost of rent and basic necessities is sky-high, it’s easy for debt to accumulate faster than your income can keep up. And in upstate New York, where wages tend to be lower, even small credit card balances can become overwhelming. But no matter where you live in the state, you're not alone—New York's consumer debt issues are widespread, and there are ways to get help. What You Can Do Now: Take Action Before Facing a Lawsuit If you're behind on your credit card payments and worried about a lawsuit, don't panic. New York law offers several protections and resources that can help you get back on track. Here’s what you can do before things escalate: 1. Prioritize Your Debts Take a close look at your debts. Start by prioritizing your credit card balances that carry the highest interest rates or that are in danger of turning into legal actions. In New York, unpaid credit card debt can lead to collections and even lawsuits, so addressing the most urgent balances first can help you avoid further damage to your financial health. For example, if you owe money to a New York-based credit card company, they may file a lawsuit in a local civil court if your debt remains unpaid for long enough. Once the lawsuit is filed, you may face wage garnishment or even the seizure of your property. Prioritize the accounts that have the potential for the most serious legal consequences. 2. Contact Your Creditors Before your credit card companies decide to take you to court, contact them. In New York, many creditors will work with you to establish a payment plan, reduce interest rates, or even offer temporary relief. Simply calling them to discuss your situation can often prevent collection calls and buy you some time to get your finances in order. If you are having trouble with a specific creditor, you can file a complaint with the New York Department of Financial Services (NYDFS), which regulates financial institutions operating in the state. They may be able to assist in resolving disputes or negotiating better terms for you. 3. Seek Non-Profit Credit Counseling Consider contacting a non-profit credit counseling service. These agencies can help you assess your financial situation and develop a Debt Management Plan (DMP). With a DMP, you may be able to consolidate your payments and reduce your interest rates—helping you pay off your debt faster and more affordably. There are several reputable non-profit organizations in New York, such as The National Foundation for Credit Counseling (NFCC) and Money Management International (MMI), which provide free or low-cost services to New Yorkers in financial distress. 4. Consider Debt Settlement If you’re already behind and facing legal threats, you may want to explore debt settlement. This involves negotiating directly with creditors to pay less than what you owe, typically in a lump sum or through a structured payment plan. While debt settlement can be an effective way to reduce your debt, it’s important to understand that it may affect your credit score, and creditors are not always willing to negotiate. In New York, if you're dealing with multiple creditors and mounting debt, a debt settlement attorney familiar with New York state law can help negotiate a settlement on your behalf. They can also help you navigate the legal system if you're facing a lawsuit. What to Do If You’ve Been Sued If you’ve already been served with a lawsuit, it’s crucial to act quickly to protect your rights. In New York, failure to respond to a lawsuit within the prescribed timeframe can lead to a default judgment. This means you could lose your case automatically, resulting in wage garnishment, bank account levies, or the seizure of your property. Here’s how to proceed if you've been sued: 1. Review the Documents Carefully When you receive a lawsuit, carefully read the summons and complaint. Make sure that the creditor is legitimate and that they have provided all necessary documentation to back up their claim. Under New York law, creditors must provide clear proof of the debt in court. If they cannot prove that you owe the debt, the case may be dismissed. 2. Respond on Time In New York, you have 20 days from the date of service to file an answer to the lawsuit with the court. If you fail to respond within this period, the court may issue a default judgment, which can result in serious financial consequences. If you’re unsure how to respond, it's crucial to consult with a qualified attorney. 3. Don't Wait - Get Legal Help Today Contact a credit card defense attorney immediately if you’ve been sued. A lawyer who specializes in New York debt law can help you understand your options, including filing an answer to the lawsuit, negotiating a settlement, or defending against the claim. Experienced attorneys can also help you identify any mistakes made by the creditor in the lawsuit, which could result in the case being dismissed. We’re Here to Help on Your Path to Financial Freedom At The Credit Card Defense Center of New York, we understand that dealing with credit card debt in New York can feel like a heavy burden. But you don’t have to face this alone. Whether you’ve already been sued or are just worried about mounting debt, we can help. Our team of experienced New York credit card defense attorneys offers free consultations to assess your situation and provide personalized advice. We’ve helped countless New Yorkers protect their assets, negotiate settlements, and defend against lawsuits. With the right strategy, it’s possible to reduce your debt, protect your rights, and start over with a fresh financial outlook. Take the First Step Toward Financial Freedom Today Remember, you can regain control of your financial future. The key is taking action now. Whether that means negotiating with your creditors, seeking credit counseling, or getting legal assistance to fight a lawsuit, we are here to guide you every step of the way. If you’re struggling with credit card debt in New York or have already been sued, contact us today for your no-obligation consultation . We’ll listen to your unique situation, offer you honest advice, and help you find a path to financial freedom. The Credit Card Defense Center of New York Phone: 212-591-0400 Email: info@creditcarddefensecenter.com Don’t wait—reach out now to get started on your journey toward a debt-free future.
By websitebuilder October 20, 2024
 Here are some tips for defending a credit card lawsuit in New York : Respond promptly: Respond to the lawsuit within the time limit, which is usually 20 to 30 days. You can file an answer by visiting the clerk's office and requesting an answer form. Understand the statute of limitations : The statute of limitations is the time limit for a creditor to file a lawsuit. In New York, the Consumer Credit Fairness Act of 2022 established a 3-year time limit for many types of debts. Raise a defense: You can argue that the debt isn't yours or that the amount claimed is incorrect. Other defenses include claiming that the contract was unfair or that the statute of limitations has passed. Keep records : Save any documents related to the debt, such as emails, letters, statements, or agreements. Attend all court hearings : If your case goes to court, make sure to attend all hearings. Negotiate a settlement: I n some cases, you may be able to negotiate a lower settlement amount. Consider legal representation : A lawyer experienced in consumer debt can help defend your case. You can also call the NYC Financial Justice Hotline at (212) 925-4929 for help or visit the Civil Court's Help Center to speak with a court attorney.
By websitebuilder October 20, 2024
Tackling Your Credit Card Debt: Effective Strategies to Take Control WOW !! credit card debt just hit a new record high of $1.17 trillion? If you're among the millions of Americans facing rising credit card balances, you're not alone. High inflation and increasing living costs are forcing more people to rely on credit to make ends meet, and the impact on personal finances is severe. With average credit card interest rates now topping 23%, many find themselves trapped in a cycle of mounting debt, where monthly payments barely make a dent. At the Credit Card Defense Center , we understand the stress and frustration that comes with credit card debt. But don't worry – there are proven strategies you can use to regain control of your finances before you are sued and need to call us for assistance. Whether you're dealing with ever increasing credit balance or struggling to keep up with minimum payments, it's crucial to take action now, before any lawsuit starts, in order to avoid further financial strain, including the legal fees that you may have to pay to get the matter relieved if it is not taken care of before any lawsuits are started. 1. Debt Consolidation: Simplify and Save If you're juggling multiple high-interest credit card balances, debt consolidation could be a game-changer. By consolidating your debts into a single loan or credit card, you can lower your interest rate and simplify your payments. This option works best for those with good or fair credit, as you’ll need to qualify for a favorable interest rate. The key is to avoid accruing additional credit card debt after consolidating, to ensure you’re truly reducing your overall financial burden. 2. Balance Transfer: Get Relief with 0% Interest A balance transfer is another effective way to tackle credit card debt, especially if you can qualify for a card offering 0% APR for an introductory period. With this option, you can transfer your high-interest balances to a new card and avoid paying interest for up to 21 months. This gives you a valuable window to pay down your debt faster. However, keep in mind that balance transfers often involve a fee (typically 3% to 5%), and the 0% rate is temporary. After the promotional period ends, the interest rate will increase, so it’s important to stick to a disciplined repayment plan. 3. Debt Settlement: Reduce Your Debt for Less If your credit card debt is overwhelming, debt settlement might be an option worth exploring. Debt settlement involves negotiating with your creditors to reduce the total amount owed. While it’s possible to negotiate directly with creditors, many people find success working with a reputable debt relief company that can negotiate on their behalf. Keep in mind, however, that debt settlement may negatively impact your credit score and not all creditors will agree to a settlement. 4. Debt Management Plan: Structured Support for Long-Term Relief If you're looking for a more structured approach to managing your debt, a Debt Management Plan (DMP) might be the right choice. Offered by nonprofit credit counseling agencies, a DMP consolidates your debts into one monthly payment, often at a reduced interest rate. This can make your debt more manageable and help you pay it off faster. However, keep in mind that DMPs typically take three to five years to complete, so they’re better suited for individuals who need long-term assistance and are committed to following a structured repayment plan. Take Action Today: Your Path to Financial Freedom Credit card debt doesn’t have to be a permanent part of your financial life. By exploring options like debt consolidation, balance transfers, debt settlement, and debt management plans , you can take steps to reduce your debt and regain financial control. The sooner you act, the sooner you'll be on the path to a debt-free future. If you’re ready to explore the best options for your situation, Credit Card Defense Center is here to help. Our team of experts can guide you through your options, provide personalized advice, and connect you with trusted resources. Don’t let credit card debt control your life – take the first step towards financial freedom today.
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