Credit Card Debt Settlement – Will Companies Sue Me If I Attempt To Settle Debts?
Written by admin on December 5th, 2010When discussing your options financially, you always want to make sure that you are protected from potential legal action.
Though it might not be something that is pleasant to think about, there are some companies out there that will take you to court for various things.
Natalia Osorio Editor of the “Credit Card Debt Settlement” website — http://www.CreditCardDebtSettlementUsa.com — pointed out;
“…If you try to settle your debt, is this going to happen? That is something that many folks are asking before they sign on with settlement companies. If you are working with a solid settlement firm, this should not be a concern. Lots of things should worry you before this particularly worry takes hold, since it has little chance of actually happening in the real scheme of things…”
Why can’t companies sue?
It would seem to make some sense that if you tried to settle debts for less than you owe, the companies out there might try to take some legal action. The thing to understand is that the laws have changed over time. There is no longer a debtor’s prison and the civil court options for creditors have shrunk, too. Today, the laws are in your favor as a consumer and they actually force the credit card providers to settle in certain situations. These companies have to offer you a settlement plan and if it meets regulations, they have to accept it.
Making sure all of your ducks are in a row
If you want to avoid all legal action, then you need to make sure that you have things completely taken care of. The consumers who use the best debt settlement firms end up on top in these situations because the company takes care of the little things. You need to have the right type of settlement letter, your debt needs to meet the right conditions, and you have to go through all of the right legal channels. If you just decide to send them a check and say that you are done with the debt, then you could be in for a legal fight. The smart people who are in debt will operate within the law, though.
“…Credit card companies might seem like they are out to get you, but in reality they are probably going to be happy just to see some return on your old debt. If you are smart with your choice of settlement company, you will end up with nothing to worry about form a legal standpoint…” N. Osorio added.
Further Information By Visiting; http://www.CreditCardDebtSettlementUsa.com
Tags: card, consumer, credit, debt, debt need, debts, Settlement, web
