Posted on December 15, 2009 at 5:13 am Hi, would you discuss - how to answer a credit card debt lawsuit?:Like, what should I expect?What's the worst case scenario?What are the chances of winning it?

Posted on December 15, 2009 at 5:23 am Hi Aretha! I wonder why you're asking how to defend a credit card lawsuit...were you informed by the collectors that a legal action is going to be taken against you?The best advice that I can give you is - don't panic, it's supposed to be a process, you're supposed to be given time to respond - and more IMPORTANTLY, show up at court at the given court date. SHOW UP or else, a default judgment would be handed down you - and that's the usual case.

Posted on December 15, 2009 at 5:26 am Credit Card Debt LawsuitYou have to know your rights. First, the debt has to be verified, if it's truly yours, and the amount they claim you owe is correct. When they first contact you about that debt via phone, expect to receive a written notice as well, within 5 days of that first contact. The letter should contain the amount you owe, your creditors info, and what you can do should you want it validated.Until then, remember to not admit to the debt nor offer to pay partial payments -- also, do check your state's Statute of Limitations. Here http://www.fair-debt-collection.com/SOL-by-State.html

Posted on December 15, 2009 at 5:33 am Hello, I am no lawyer but this is what I know --when you receive a summons, you usually have 10 to 30 days to respond.-file a Notice of Appearance, you Answer (confirm, deny their allegations), you assert your Affirmative Defense -which may have something to do with the SoL-file Certificate of Service, proof that copies were sent out to your collectors-wait for months(?) for the hearingI agree with the statement earlier - SHOW UP  at the hearing.

Posted on December 15, 2009 at 5:34 am What if it's really your debt - what if it's validated?

Posted on December 15, 2009 at 5:36 am You'd have to pay what you owe -But good news is...it doesn't have to be on the full amount since the account is already with the collectors - it means that it can be settled for less than the full amount. It's just a matter of negotiation which the consumer can do himself or hire the services of a settlement company.

Posted on December 15, 2009 at 5:39 am Hello Aretha, what's the worst case scenario?You were sued for a judgment. A judgment could be any of the ff: wage garnishment, bank levy, or property lien. If you're wondering if it's possible to go to jail with this - the answer is no. So do get rid of that debt. You don't have to pay the full amount if you can't. The collectors would have to settle for what you can afford and debt settlement can help you. The program is about reducing your balance to more or less half in 12-36 months.

Posted on December 15, 2009 at 5:41 am You might have heard about debt settlement companies being sued by state attorney generals in some state - it's true that there are scam companies out there taking advantage of the economic problem and the consumers fears - so here are some guidelines as to what to look for in a settlement company:-The settlement company's program must have a fast completion time. 12-36 months.-The program must be able to protect and improve the consumer's credit standing.-Must be a member of the Better Business Bureau, BBB, for at least 5 years.-Must also have a good standing with the Chamber of Commerce-A Member of TASC - The Association Of Settlement Companies and the IAPDA or theInternational Association of Professional Debt Arbitrators

Posted on December 15, 2009 at 5:42 am Oh this is wonderful help everybody, thank you! How much did you say it wold cost?

Posted on December 15, 2009 at 5:45 am Debt settlement companies would charge 15% of your total debt amount -spread over 18 months or they will take between 20-25% of the settlement amount. Hey, you can speak with a debt consultant for free here at destroydebt.com, just fill out a form, and  you'd be matched up to the right company for your financial situation.All the best!