Most people do not realize that credit card companies have set them up to fail. Many creditors want you to go over limit or be late on a payment so that they can charge you over limit fees and late fees and increase your interest rate. That is how they make the most money. That is why many companies will give you two $500 limit credit cards instead of one card with a $1000 limit. The two cards gives them two chances to charge you over limit fees and two chances to assess late fees. These fees can rapidly turn $1500 worth of credit card purchases into a $5,000 + obligation accruing interest at 29.99% .
Despite layoffs or health problems, many people have struggled and sacrificed to make their credit card payments but nevertheless have faced unfair and inexplicable interest rate increases which prevented them from making their minimum payments. Next comes the charge off on their credit report and their debt is sold to a series of nasty debt collectors. The harassment of collection calls and letters can be almost unbearable. All the brow beating and harassment is designed to make a person feel hopeless, and helpless and to give up and pay this unfair unsecured debt before more important payments, like taxes and critical living expenses.
A person may or may not find out that a debt collector is proceeding with a lawsuit against him or her related to that old credit card. They may feel paralyzed or trapped in the debt.
But there are many legitimate ways to fight a credit card lawsuit. You do not have to just give up. Consumer protection attorney Aurora Dawn Harris has a heart for those who are economically oppressed. She will aggressively fight for your consumer rights.
Use the contact form at this link to get in touch with Aurora Dawn Harris.
This is a great article. I never could understand why credit card companies with which I already had an account would keep soliciting me to get another card. This makes so much sense. Thank you !