What to do if You Are Facing a Credit Card Lawsuit in New York

Posted By Law Office of Simon Goldenberg, PLLC || 8-May-2018

Lower courts in New York have been nicknamed "the credit card courts" due to the enormous volume of credit card lawsuits brought by banks, lenders, and debt buyers. Many of the cases that make their way through these courts are frivolous and overly aggressive attempts to collect on older debts. Debt buyer lawsuits in particular are very common and continue to occur more frequently. In fact, the top 26 debt buyers were awarded more than $1 billion in judgments against New York City residents between 2006 and 2008.

Credit Card Lawsuit Defense Attorneys


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Original Creditors

Many banks hire outside attorneys to bring lawsuits against New Yorkers. While some creditors will offer flexibility with respect to settlement reductions and monthly payments, the concessions are oftentimes less generous then what can be achieved with debt buyers. Part of the reason is that the original creditor may be in a better position to prove their case in court as opposed to a debt buyer. However, if you fail to respond to a lawsuit on time, you could be subject to a default judgment, even without the creditor proving their claim.

  1. Capital One Bank
  2. TD Bank
  3. Bank of America
  4. American Express Credit Card Lawsuit
  5. Wells Fargo

Debt Buyers

70% of the average debt buyers' portfolio contains credit card debts. In New York, lower income communities are hit the hardest with debt buyer lawsuits. With their money, resources, and default judgments, debt buyers can seize a person’s assets, freeze their bank accounts, and garnish their wages to collect a debt.

  1. Cavalry SPV I llc
  2. LVNV Funding
  3. Midland Funding
  4. Cach LLC
  5. JH Portfolio Debt Equities LLC

Judgements

What’s worse, a judgment for credit card debt will appear on a person’s credit report. This will make getting housing, loans, and finding a job burdensome. In some cases, judgments can be enforced for 20 years.

Get Legal Assistance

If you are facing a credit card lawsuit, you need to review and closely examine all the details pertaining to your case. You’ll want to determine if you are being sued by a bank or a debt buyer, and if they are licensed to collect debts. An experienced lawyer can help you find out about this information, and can also answer the following that will be important to your case:

  • Are your creditors registered to do business in New York?
  • Were you properly served?
  • Is this a case of breach of contract, account stated, goods sold and delivered?
  • Are there any facts about your debts that have been misrepresented?
  • Have your communications been accompanied with the required disclosures?
  • Is there proof of a signed credit application with all subsequent amendments and disclosures?
  • What state laws apply to your situation?
  • Are you being sued in the right county?

In addition to answering these questions for you, a skilled lawyer will also develop a legal strategy that will protect your rights.

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At the Law Office of Simon Goldenberg, PLLC, our legal team helps clients in New York settle their debts. We can handle the details of your case and make sure you are prepared for court. Let us put our skills to work for you today.

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