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What if a Bank, Credit Card Company, or Debt Collector is Suing Me?

Banks, credit card companies, and debt collectors are becoming more and more aggressive in going after people who have fallen behind on their payments. Many are taking these cases to court against people who have fallen victim to the tough economic times our country is facing.

The vast majority of the people sued for a debt do not hire a lawyer, even though the credit card companies send experienced lawyers to court to represent them. These attorneys do not represent you and are not there to help you. You might try representing yourself but you are setting yourself up for failure.

In North Texas, people come to Ted Machi & Associates for credit card lawsuit defense representation when they feel harassed or treated unfairly by a credit card company, debt collector, or bank. We are in your corner, providing aggressive, comprehensive credit card lawsuit defense.

What Are My Legal Rights if I’m Being Sued?

Creditors cannot garnish wages in Texas, so selling debts to a third party for collection is a popular practice for credit card companies. Often, it is this third party that files a lawsuit, hoping to make a profit on your misfortune. Sometimes the debts are very old and a debt collector or credit card company may have failed to properly notify you about the debt or accurately keep track of what balances are paid off or settled. We can help you determine if the debt is valid or if your consumer rights have been violated.

Some people who are being sued by their banks or creditors feel that, because they fell behind on their payments or encountered financial hardship, they cannot defend themselves in the lawsuit. That is simply not true! You have rights. If a bank, credit card company, debt collection agency is suing you, call Ted Machi & Associates today.

We will help you if a lawsuit is filed against you by any of the creditors or law firms.

What if I Can’t Pay My Mortgage?

If you are having trouble making your mortgage payments, there are options. We may be able to help deal with your lender. The government does have options for those struggling in the down economy.

The fear that you may lose your home because you can’t make your mortgage payment can be overwhelming. If you are having trouble making ends meet, there are options, and bankruptcy is only one of those options.

We can help you evaluate your situation and determine the best course of action for you. If you are behind on your mortgage payments, contact Ted Machi & Associates, P.C. today.

What Mortgage Payment Scams Should I Avoid?

The Federal Trade Commission encourages you to watch out for these scams when you are looking for help with your mortgage:

Scam artists follow the headlines and know homeowners are falling behind on their mortgage payments or at risk of foreclosure. Their pitches may sound like a way for you to get out from under, but their intentions are as far from honorable as they can be. They mean to take your money. Among the predatory scams that have been reported are:

The foreclosure prevention specialist:

The “specialist” really is a phony counselor who charges high fees in exchange for making a few phone calls or completing some paperwork that a homeowner could easily do for himself. None of their actions result in saving the home. This scam gives homeowners a false sense of hope, delays them from seeking qualified help, and exposes their personal financial information to a fraudster.

Some of these companies even use names with the word HOPE or HOPE NOW in them to confuse borrowers who are looking for assistance from the free 888-995-HOPE hotline.

The lease/buyback:

Homeowners are deceived into signing over the deed to their home to a scam artist who tells them they will be able to remain in the house as a renter and eventually buy it back. Usually, the terms of this scheme are so demanding that the buy-back becomes impossible, the homeowner gets evicted, and the “rescuer” walks off with most or all of the equity.

The bait-and-switch:

Homeowners think they are signing documents to bring the mortgage current. Instead, they are signing over the deed to their home. Homeowners usually don’t know they’ve been scammed until they get an eviction notice.

What if My Car is Repossessed?

If your car is repossessed, you need to act quickly. We may be able to get your car back within 24 hours. Call our office now. If you are worried about repossession, call our office to see if you are eligible for protection from repossession.

Can I Avoid Repossession?

It is always easier to keep repossession from occurring than to dispute it after it happens. If you realize that you will be late paying contact your creditor. Many times the credit company will work with you if they believe you will be able to make payment soon.

You may be able to delay payment or revise your payment date. If you make changes to the actual contract, be sure to get it in writing. However, your finance company may not accept a late payment or negotiate with you. They may demand you return the vehicle.

If you agree to a “voluntary repossession,” you may reduce the fees owed to the creditor. Even if you work with them and return the vehicle, your creditor may still enter late payments or repossession on your credit report.

If you are facing bankruptcy, ask an attorney for information about your rights to the vehicle during this process.

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