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Increasing Numbers of Debtors Getting Court Summons for Credit Card Debt

Increasing Numbers of Debtors Getting Court Summons for Credit Card Debt

The recent economic slump brought more problems to average citizens who work hard but still are neck deep in credit card debt. This increased the number of debtors who default on payments and eventually, get court summons for credit card debt. The fact is, these court summons for credit card debt are no longer sent out by the original creditor, rather, they are sent by third party junk debt buyers who purchased old, charged off credit card accounts for penny on the dollar.

In 9991, a staggering $2 billion worth of consumer debts were sold to third party debt buyers and in 2006, the amount went past the $110 billion mark. Now, for charged off accounts paid penny on the dollar, you can only imagine how much the debt buyers profit off of these credit card debts. Generally, junk debt buyers will send out multiple court summons for credit card debt and hope that the recipients of the summons will ignore it so they can get the judge to rule a default judgment.

A default judgment will give the junk debt buyers legal rights to access bank information, personal and employment details of a certain debtor and garnish his or her wages or put lien on his or her properties to satisfy the debt. With the kind of authority junk debt buyers are given once they get a default judgment ruling, you do not want to ignore that court summons for credit card debt.

The good news is, if you received a court summons for credit card debt filed by a junk debt buyer, the chances of them having the right documents to pin the debt to you is slim. In fact, they might not even have the authority to file the lawsuit in the first place and all you need to do is prove that to the court. You can do this without hiring an attorney. The Answering a Summons tackled this subject extensively so if you want to prove your case and WIN it, purchase a copy today by clicking here.

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