When dealing with a credit card debt lawsuit, one of the most important decisions you'll face is whether to negotiate with the credit card company on your own or seek legal representation. We’re going to explore the pros and cons of self-negotiation and the benefits of having an experienced debt defense attorney by your side. Negotiating with the credit card company is possible, but it’s important to understand what both approaches entail.
If you're an individual consumer facing a credit card debt lawsuit, here are some key points to consider:
Small Debt Amounts: For relatively small debt amounts and straightforward cases, self-negotiation can be a cost-effective and practical choice for you. You can contact the credit card company, explain your situation, and work out a repayment plan or a settlement agreement. It’s important to remember that creditors may not be as willing to work with an individual borrower as they would be with an attorney who specializes in the field; the downside here is that your deal may not be as good as it could have been.
Understanding Your Defenses: Before you start negotiations, it's crucial to understand the potential defenses that apply to your case. For instance, you may need to prove that the credit card company owns the debt. Knowing your defenses can strengthen your position during negotiations, but you may not know every defense that can be used or uncovered in your case (this is why it’s imperative to at least consult with an attorney before making your decision).
Timely Responses: Be aware of legal deadlines, such as responding to a lawsuit or pre-trial conferences. Missing critical deadlines can be detrimental to your case; whether you’re defending yourself or retaining an attorney, it’s always important to make sure to adhere to necessary timeframes.
Length of Case: Negotiating on your own can sometimes take longer, as credit card companies may take their time litigating the case. This extended process could increase your legal costs and financial stress and might not always make sense.
When considering legal representation for credit card debt negotiation, especially in more complex cases when an LLC is involved (as they cannot be self-represented in Florida) here are some of the distinct advantages:
Knowledge of Defenses: Attorneys are well-versed in the potential defenses that can be used to protect your rights. They can identify and employ these defenses to your advantage.
Legal Deadlines: Attorneys understand the importance of adhering to legal deadlines, such as responding to discovery requests, discovery responses, getting in an answer on time, or subpoenas. Missing these deadlines can harm your case, and legal professionals ensure compliance (tip: they also know how to extend deadlines if this is needed).
Opposing Counsel Relations: Attorneys often have established relationships with opposing counsel. This can work in your favor during negotiations, as opposing counsel recognizes the attorney's aggressive style of representation, increasing the likelihood of reaching a favorable settlement.
Faster Resolution: With legal representation, you may be more likely to achieve a quicker resolution. Attorneys are skilled in negotiating and can expedite the process, potentially saving you time and money.
If you’re reading this, there’s a good chance that you have already been sued. But, if you happened to stumble across this article and a lawsuit hasn’t started yet, you are in luck. This is because it’s best to take a proactive approach and negotiate with the credit card companies, or discuss your debt/hardship, before the lawsuit has started. By doing this, you’ll be initiating negotiations and starting to work on a solution before the situation has escalated to a lawsuit.
In the world of credit card debt negotiation, the decision to represent yourself or seek legal help is very important. While self-negotiation can be suitable for small, straightforward cases, legal representation offers many advantages, especially when dealing with more complex or litigated matters. An experienced debt defense attorney can guide you through the process, provide you with a thorough understanding of the defenses available, and ensure you get the best possible outcome in your case. We have been providing debt defense for our clients since 1989 and offer free consultations: 305-514-0500.
