Recent Posts in Credit Card Debt Category

  • Why Hire a New Jersey Debt Settlement Lawyer?

    || 25-Sep-2018

    Settle Credit Card & Student Loan Debt in NJ Severe financial debt can come with a number of consequences. In addition to the impact to your credit score and constant stress, you may get to a point where your creditors choose to pursue action against you. If you continue to make your regular payments, even just the minimum ones, then this won’t happen. However, if you fall too far behind ...
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  • What You Need to Know If You're Being Sued by American Express

    || 20-Sep-2018

    American Express has long been seen as the “premium” credit card company in the United States. They’re not only known for their outstanding customer service, but also for their high transaction fees which prompt a number of retailers not to take them. While AmEx may be a popular option, especially for those who have a considerable amount of wealth, they’re also notoriously ...
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  • How Do I Know if I Need to File for Bankruptcy?

    || 1-Jun-2018

    If you are struggling to pay off your debts and can never seem to make a dent in them, you might be wondering if you need to file for bankruptcy. For many, the word itself inspires some fear and uncertainty, but the fact is that sometimes it is necessary to file for bankruptcy in order to start over and rebuild financial health. How can a person know when the time has come to proceed with this ...
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  • What to do if You Are Facing a Credit Card Lawsuit in New York

    || 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 ...
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  • Consumer Credit Card Market Report: CFPB

    || 16-Jan-2018

    Many of us think nothing of the small plastic rectangle card we carry and use on a daily basis. Credit cards and lines of credit have reached the point of mundanity for most American consumers; they are simply a fact of life. However, with so many consumers possessing credit across a multitude of financial institutions, it should come as no surprise that monitoring and collecting credit card debt ...
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  • Beware of Debt Consolidation Companies

    || 20-Nov-2017

    You’ve probably heard or seen advertisements featuring buzzword phrases such as “Don’t let credit card companies trick you into thinking you have to pay all your debt back!” and “Consolidate your debts into one low monthly payment!” While these promises may sound great, they’re like almost any other deal that sounds too good to be true: odds are it’s ...
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  • Unsecured vs. Secured Debt

    || 21-Sep-2017

    Debt can come in many forms. Two of these forms are secured and unsecured debt. Most debts fall into one of these two categories, but the way these debts are handled can be very different. The differences between these debts can help both consumers and businesses decide how to borrow money, prioritize debts for payoff, and work to protect your assets. Secured Debts Secured debts are one major form ...
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  • How the Federal Funds Rate Affects Credit Card Debt

    || 17-Aug-2017

    The average American household has more than $16,000 in credit card debt, which could easily become a much larger cost without your noticing. That’s because the federal funds rate, otherwise known as the fed rate, could dramatically change the price you pay to have this outstanding debt. There’s a close relationship between the federal funds rate and the price of credit card debt, and ...
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  • Weltman Weinberg & Reis Law Firm Sued For Debt Collection Violations

    || 30-Jun-2017

    On April 17, 2017 the Consumer Financial Protection Bureau ("CFPB") filed a lawsuit in a federal district court against Weltman, Weinberg, & Reis Co., LPA, a debt collection law firm which has operates in several states, including New York, New Jersey, and Florida. The complaint alleges that the collection firm used illegal tactics while collecting debts from consumers. Specifically, ...
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  • Prohibited Debt Collection Practices

    || 31-May-2017

    Are you receiving phone calls, emails, or other communications from debt collectors? Often the persistence of debt collectors can be annoying and stressful, making your life miserable until you can finally make them stop. In fact, certain debt collection practices became so bad that the federal government banned them outright some time ago. However, this hasn’t entirely stopped less-credible ...
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  • Tips to Help You Get Out of Debt

    || 25-May-2017

    The one common mistake made by all people with past-due debts is that they spend a lot more than they actually have. Student loans, credit card bills, bank loans or loans from other creditors all add to your debt and, if you’re not careful, they’ll push you further and further into the mess until you’re too lost to find your way out. As harsh as it may sound, it’s true. In ...
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  • What to Do When Being Sued for Credit Card Debt

    || 17-Apr-2017

    Unlike the federal government, who can garnish your wages if you don’t pay back your loans, private lending companies like credit card companies generally cannot garnish wages without taking legal action. When you receive notice of a credit card lawsuit, take the following steps. Don’t Ignore It It can often be tempting to just ignore a situation in the hopes it will disappear ...
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  • Common Reasons People Fall Into Credit Card Debt

    || 20-Mar-2017

    Millions of Americans each year will either struggle to keep their finances positive or fall into debt. Each person who goes into debt will do so for his or her own unique reasons, of course, but many cases are linked directly to credit cards and other forms of credit lines. What is it about credit cards that can lead so many people into difficult financial situations, or even bankruptcy ? Our ...
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  • Merchant Cash Advance & Business Debt Lawyers

    || 14-Mar-2017

    Nearly every day, our office receives phone calls from business owners that are desperately looking for a solution to their small-business debts. Whether it be an MCA debt (Merchant Cash Advance), a business loan, a line-of-credit, or even a commercial credit card, it can be tough to know where to turn when you can no longer afford to make the minimum payments. It’s no wonder that some ...
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  • Consumer Debt vs. Business Debt: What's the Difference?

    || 21-Feb-2017

    Debt usually refers to money owed by one party, the debtor or borrower, to another party, the lender or creditor. However, there is a big difference between consumer debt and business debt, especially with how the debts are collected when they are in default status. Consumer Debt A debt is considered a "consumer debt" if it was primarily accrued for personal, family, or household ...
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  • Useful Tips to Avoid Holiday Debts

    || 15-Dec-2016

    The holiday season represents a unique time of year where you are expected to spend more than you would on yourself and others than normal. In fact, many Americans actually plan to spend so much that they accrue debt that will take several months to pay off. This could arguably be giving too much. For your own benefit, it is probably best that you don’t rack up a holiday debt and keep in ...
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  • 80% Debt Reduction with US Equities Corp & Linda Strumph

    || 7-Nov-2016

    Case Background In 2016, a Client retained our firm for assistance with resolving a judgment for an old credit card debt. The Plaintiff, U.S. Equities Corp, was represented by Attorney Linda Strumpf. The judgment was originally entered in 2004 for approximately $22,000, but with interest and poundage, the balance ballooned to $47,000. Our client was unaware of any lawsuit against her. Her first ...
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  • American Express Lawsuit Settled With Jaffe & Asher LLP (39%)

    || 21-Oct-2016

    The Law Office of Simon Goldenberg PLLC provides a comprehensive suite of debt relief services, including defending consumers and businesses from collection lawsuits in New York and New Jersey. In this article, we are highlighting a case brought in Supreme Court by the law firm of Jaffe & Asher LLP for credit card debt. The borrower initially contacted our office for an evaluation of his case. ...
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  • How To Reduce Credit Card Debts

    || 22-Jul-2016

    Since most people have credit cards, it’s critical to understand interest rates, and how the compounding of interest can cause your balance to grow at an alarming rate. Managing your interest rate could be the key to reducing credit card debts. If you make your monthly payments on time, your account might already qualify for a lower interest rate. Our attorneys suggest making a phone call to ...
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  • Reduce Merchant Cash Advance & Business Loans

    || 11-Jul-2016

    If you own a business, you probably already know that maintaining sufficient cashflow is critical. However, with seasonal fluctuations, competition, and other variables outside of your control, trying to maintain financially stability while operating a small business can be challenging. Money is needed for inventory, raw materials, supplies, and human resources, so taking a business loan or a ...
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  • New York City Debt Relief Lawyers

    || 7-Jul-2016

    If you’re looking for relief from your debts then you might already know how stressful the collection process can be. Regardless of whether you’re saddled with overwhelming credit card debts, business loans, or large student loan payments, you’ll want a seasoned attorney to help guide you to a fair resolution. At the Law Office of Simon Goldenberg, PLLC, we help New Yorkers get ...
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  • Debt Buyer Lawsuits - Defense Strategies

    || 6-Apr-2016

    Many lawsuits, particularly with old debts, are brought by " debt buyers " who purchase debts from original creditors. Such "debt buyers" might have difficulty proving in court that they own the debt, that the debt ever existed, or that you owe the complete amount claimed. Furthermore, even if they could prove these things, "debt buyers" sometimes seek to collect ...
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  • Can I Exclude a Credit Card from Chapter 7 Bankruptcy?

    || 24-Mar-2016

    One of the most common questions regarding filing for Chapter 7 bankruptcy is whether or not a debtor can choose to exclude a credit card from their petition for bankruptcy. Some people wish to collect the benefits of having their debts discharged during bankruptcy but do not want to risk losing their credit card in the process. On the flipside, a person may wish to omit their credit card debt ...
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  • 85% Debt Reduction on Stephen Einstein Lawsuit

    || 11-Dec-2015

    This particular client contacted our office for assistance after receiving a notice of a lawsuit. The company suing them was JH Portfolio Debt Equities, which claims to have purchased the debt from the original creditor, Citibank. The amount of the claim was nearly $7,500. We responded to the Complaint with a Verified Answer and included a Counterclaim under New York General Business Law. ...
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  • Filing for Chapter 7 Bankruptcy in Brooklyn, NY - FAQ

    || 9-Nov-2015

    Bankruptcy can be confusing and complicated. Hiring an attorney can make the process tremendously easier for the debtor. Our office handles the bankruptcy planning, so that we can identify red-flags that may interfere with the discharge of debts. We prepare the bankruptcy petition, which is typically in the range of 80 pages. We handle the filing of the bankruptcy with the court, and the ...
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