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==== ==== This article talks about how to eliminate credit card debt. ==== ====

Have you been in a situation where you couldn't catch up on paying your credit card debt? I bet that would have led you to entertain thoughts of not paying it. Well, should you? I suggest you rethink your strategy. Totally ignoring your credit card bill is just inviting a credit card lawsuit. Even if the debt is marked as a charge-off on your credit report, credit card companies would still like to get at least a portion of the debt paid. To do that, they would file a lawsuit. They would request the court to order a wage garnishment or worst property seizure. I have been fortunate to know a few ropes when it comes to handling credit card lawsuit. I want to share them with you. So here are things you can do to thwart a possible lawsuit. A temporary measure that will give you some time to strategize is to ask a validation letter from the creditor. This would require them to send you a signed statement verifying your debt. When they do this, all collection efforts halt. You can then decide which option you are to take next. One of your options is to negotiate your debt. Directly contact the credit card company and see if there's an easier payment scheme you could enroll in. Make it clear to the creditor that you are serious in paying your debt however inform them if you are financially stressed. Tell them you could only afford to pay off a portion of the debt. If your family has been through a series of disaster, accidents, and other life-altering events, let your creditor know what's happening. Once they've become receptive of your problems, convince them to drop the lawsuit. Most likely they would agree as they would rather get paid than nothing. Then after, ask them to furnish you a copy of the agreement so you have a legal documentation with you. You may also check what your loan policy says about the statute of limitations. This is the amount of days by which the creditor or bank can file a lawsuit. The number of days is counted from the last documented date of payment. The length varies per state so check your policy. This is crucial because for credit lawsuit to stand in court, it must be filed within the stated period. This may be your easiest way out of a lawsuit without paying the creditor. Of course, if you have the means to pay off your debt, might as well do so. You wouldn't want your children to learn that you are cheating and are being irresponsible with your finances, do you? Your very last option against credit card lawsuit is to file a bankruptcy claim. This is the best option if you have several creditors that you absolutely cannot pay back or if you don't have the resources to hire a defense attorney. Chapter 7 bankruptcy can dissolve non-secure debts while a secured credit card can be paid through property liquidation. Chapter 13 bankruptcy can get the law to your side by giving you an easier repayment plan on better terms.

Credit card lawsuit is a big issue and seldom talked about that is why Alexander A. Martin is suggesting you to drop by

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==== ==== This article talks about how to eliminate credit card debt. ==== ====

Secrets to Stopping a Credit Card Lawsuit