How To Fight A Credit Card Lawsuit
Option 2: Attempt to Negotiate
Attempt to negotiate with the debt collector
A consumer can always attempt to negotiate with the debt collector/debt buyer suing them on the delinquent credit card debt for a lesser amount.
However, be prepared for the debt collector/debt buyer to be rude and rather unpleasant during the attempt to settle.
Keep in mind that the credit card lawsuit is not only demanding the "principal" due, but is also suing for several years of interest and attorney fees.
This technique is usually successful only if the consumer can pay a "lump sum" (rather than payments) that is a substantial portion of the TOTAL amount being sued for. Also, the consumer should remember that if the debt collector/debt buyer agrees to accept a reduced lump sum, that the debt collector/debt buyer will usually report the "balance" to the IRS through a form 1099C, and the consumer will have to declare the "balance" as income on their taxes.
Click here for your next option on how to fight your lawsuit: Represent yourself in court
1. Do nothing →
2. Attempt to negotiate →
3. Represent youself →
4. Retain an attorney to defend you →
5. Bankruptcy
