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The Ultimate Guide To Winning Your Credit Card Lawsuit

This year came with many big surprises. But one that really shook up the banking sector and the credit card industry was one where one of the biggest giant financial corporations in the world was sued for the use of discredited methods for credit card debt collection from its customers.

On July 8, 2015 according to Reuters, JPMorgan Chase & Co had agreed to pay over $125 million in settlement for U.S. credit card debt probes. What most people fail to realize is that credit card companies sell these debts to collection firms and junk debt collectors, with inaccurate information. When sued, debtors are overwhelmed with fear simply because they feel they don’t have a winning chance. That’s perhaps the biggest misconception; truth is, you do have a chance to win against these bogus claims. And we can help you out. Here’s all the essential ammo you need to secure a win:

Respond Quickly – Answering A Summons

At first, when the lawsuit has been served, you may feel that you’re too in over your head. That’s normal. Litigation can be quite challenging. But not this one. Not if you take some measures to fight back. Start by responding to the summons and complaint. It has been estimated that almost 99% of debtors do not respond to their lawsuits. And your debt collector is counting on it. Because in the instance that you do respond, the fight is on, and they don’t have the resources to fight hundreds of litigation every day, nor do they have the evidence. Reply to the allegations in the complaint document in an organized manner, addressing each allegation with a corresponding answer of “denial” or “insufficient information to either affirm of deny”. Take a look at an example of summons.

Claim Lack Of Standing

A creditor only has the ability to sue you if they have a relationship with you. Often, your credit card companies have no time to chase debts themselves. So they are approached or approach debt collection agencies to buy the debt and manage the collection independently. Since the part that sued you is NOT the original creditor, by asserting a lack of standing as a defense, you are compelling them to prove that they have the right to sue you.

In some cases, debt collection firms will provide evidence that they purchased the debt, but inquire if your account was one of the purchased ones.

File Discovery Demands

Do they have the right to sue you? You now need to demand discovery. This is the rule that states that each side needs to provide supporting documents and evidence to the opposing side. That is, the collection agency needs to submit to you the transaction details with dates.

Watch out for the copyright date on the credit card agreement. In some cases, your agreement date may be after the alleged debt has been incurred. The proof provided to you might be insufficient, false or inaccurate. Here’s a sample request document for credit card discovery.

Bring In the Big Guns

No, we are not referring to a lawyer here. Credit card lawsuit cases are ones that you can manage on your own. All you need is the right source to guide you through it. Read and stay up-to-date with the industry, and understanding their weakness, and exploit in. Looking for the ultimate guide? Get this Defense Package for proven lawsuit defense strategies.