According to a 2017 Federal Reserve report, “credit card balances have become the form of debt most widely held by families.” We expect that with the COVID-19 crisis, balances will be pushed higher, and defaults will increase exponentially.
Banks make money by charging interest. But they also make huge profits on late fees, over-limit fees, cash advance fees, insurance products, annual fees and more. And then the debt collectors and debt buyers might add on attorneys fees or additional interest and costs.
That’s when you want a credit card debt attorney to have your back.
Many banks, debt buyers and debt collectors have been accused of having shoddy and inaccurate records, and some have even been accused of robo-signing, or worse. There have been enforcement actions and class actions against the likes of: American Express, Bank of America, CACH, LLC, Cavalry Portfolio Services, Chase Bank, Citibank, and many others. See our enforcement actions page for a full list (and please help us keep it updated).
In 2010 the Federal Trade Commission published its groundbreaking report Repairing a Broken System: Protecting Consumers in Debt Collection Litigation and Arbitration in which it stated that this was so bad that “The system for resolving disputes about consumer debts is broken.”
Ten years later, some things have changed, but some have not. Too often we still find problems, so at the Holland Law Firm, our credit card debt attorneys go over every case with a fine tooth comb to protect you.
If you are sued for a credit card balance, someone is claiming that you owe money because of “breach of contract” or sometimes on an “account stated.” Oftentimes that’s not really the case, but banks and debt buyers file tens of thousands of these cases and hope and expect that over 90% of consumers will never challenge them. They know that most people do not show up in court to defend themselves.
Hiring a Credit Card Debt Attorney
Many people give up because they feel broke, embarrassed, guilty or ashamed. That sense of hopelessness and helplessness enables debt collectors to win most of their credit card lawsuits very easily — simply because no legal defense was mounted.
The credit card debt attorneys at the Holland Law Firm have extensive experience making banks, debt collectors and debt buyers prove their case. We demand proof that there was a contract, that you breached the contract, that they are entitled to the specific amount of damages they claim, and that any assignment to a debt buyer is valid. And many times they can’t prove their case.
At the Holland Law Firm we fight back against banks, debt buyers and debt collectors in credit card cases. We like helping protect people from financial overreaching. And we look at every case to see if the debt collector has violated any of the laws designed to protect consumers.
Don’t give up. Give us a call.
Contact us for a consultation.