Can a Credit Card Company Sue Me if I Stop Paying?

It is possible for credit card companies to sue consumers who stop making payments on their accounts. When someone defaults on their credit card, the company has the right to pursue legal action against them in order to collect unpaid debt. There are several steps that credit card companies can take before filing a lawsuit, such as sending collection letters and calling the consumer directly. If the consumer still does not pay, then the company may consider taking legal action against them.

The specifics of each situation will determine whether or not a lawsuit is filed. Credit card companies must determine if it would be cost effective to pursue a lawsuit since this process involves court fees, lawyer costs and other expenses that could outweigh potential gains from collecting on unpaid debts.

The Law Offices of Omar Zambrano has helped thousands of people and businesses on the past to get out of debt and start over.

Our goal is to help you find a fresh start FAST!

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