What is the best thing to do when you are served with a credit lawsuit? This can be an extremely stressful time and making rational decisions in the heat of the moment can be quite difficult. The best way to protect yourself as much as possible is to prepare in advance. I understand that it may seem strange to prepare yourself before being sued, but in most cases people who are sued for credit card debt knew they were likely to be sued for a long time before the lawsuit came.
Your first goal in regards to credit lawsuits should be to avoid them if at all possible. For most consumers, avoiding a credit lawsuit only requires that you understand why your creditor may sue you in the first place.
So how can you tell if your bank or creditor is going to sue you? To answer this you first need to realize what motivates banks and creditors, money. Money is what drives the decision making process for all of these organizations. If they feel that suing you is the only way that they can recover the most money, you can be almost positive that you will be served a credit lawsuit. So your goal should be to make your creditor feel that they can get money from you in other ways, without actually making payments.
Citibank is one of the few creditors that do not follow the principle above about not suing unless there is a financial benefit. Citibank has developed a unique process in which they can sue almost all of their customers who stop paying on their lines of credit. Do not put yourself at risk by banking or using credit cards from Citibank.
Some consumers are not able to avoid credit lawsuits. If this happens to you it is definitely not the end of the world. You simply need to get all the information that you can before you have to go to court. Creditors and the attorneys that they hire, rely on the assumption that most consumers know nothing about the legal system and will be likely to make costly mistakes in the courtroom. If you want to protect yourself, gaining knowledge is the key.
Once again, to come away with a favorable ruling in a credit lawsuit, you simply need knowledge. Go ahead and shock the opposing attorney with your knowledge of the legal system. Who knows, you may just walk away with a wonderful result.
Your first goal in regards to credit lawsuits should be to avoid them if at all possible. For most consumers, avoiding a credit lawsuit only requires that you understand why your creditor may sue you in the first place.
So how can you tell if your bank or creditor is going to sue you? To answer this you first need to realize what motivates banks and creditors, money. Money is what drives the decision making process for all of these organizations. If they feel that suing you is the only way that they can recover the most money, you can be almost positive that you will be served a credit lawsuit. So your goal should be to make your creditor feel that they can get money from you in other ways, without actually making payments.
Citibank is one of the few creditors that do not follow the principle above about not suing unless there is a financial benefit. Citibank has developed a unique process in which they can sue almost all of their customers who stop paying on their lines of credit. Do not put yourself at risk by banking or using credit cards from Citibank.
Some consumers are not able to avoid credit lawsuits. If this happens to you it is definitely not the end of the world. You simply need to get all the information that you can before you have to go to court. Creditors and the attorneys that they hire, rely on the assumption that most consumers know nothing about the legal system and will be likely to make costly mistakes in the courtroom. If you want to protect yourself, gaining knowledge is the key.
Once again, to come away with a favorable ruling in a credit lawsuit, you simply need knowledge. Go ahead and shock the opposing attorney with your knowledge of the legal system. Who knows, you may just walk away with a wonderful result.
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