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How to handle a credit card debt lawsuit

Credit cards are both an asset and a danger. On one hand, they can provide you with the means to enjoy extra luxuries or take care of surprise expenses. On the other hand, however, they can make overspending an impossible-to-resist temptation. If you have found credit cards fall into the latter category for you, perhaps you have discovered the consequences of accounts that go into collections.

You are not alone—according to ValuePenguin, New Hampshire residents have an average credit card debt of $6,838. If you are unable to keep up with your credit card bill, you may be subject to legal action in the form of a lawsuit. If a collection agency is suing you, you should take the following steps to respond to the issue. 

Contact the creditor

It is a good idea to reach out to the creditor filing the lawsuit as soon as possible. Generally speaking, a creditor would rather settle with you than go to court, so it is in your best interest to initiate contact sooner rather than later. When you reach out, get as much information as possible, and try to communicate through email so that you have documentation of all of this information.

Consider your options

If the creditor offers an option to settle, you may consider doing this, but you may have a reason not to. If you believe that the debt is not your liability or the collections company has the wrong amount, you should consider alternatives, and you may even opt to go to court. Do not jump to any single solution before carefully considering the pros and cons of all debt relief options

Evaluate legal risk

Regardless of which option suits you best, you should consider learning whether you may receive a negative judgment before making a decision. Facing a lawsuit is a serious situation, and you do not want to commit a misstep that could be costly. 

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