Credit Card DebtI'm being taken to small claims court for credit debt for $1200.00. It was from about 6 years ago. The orginal debt was aro...

Question

Credit Card Debt

I'm being taken to small claims court for credit debt for $1200.00. It was from about 6 years ago. The orginal debt was around $800.00 is there any way I could get the fine lowered to the originally debt. What would be my argument?

Answer

Credit Card Debt

You need to retain an attorney who is experienced in creditor-debtor and bankruptcy matters. Creditors are often willing to negotiate on old accounts. Credit card debt cans literally double annually depending upon the interest rate and the penalties authorized by your account agreement. Many account agreements these days also authorize the bank to change the terms of the agreement any time they want, which includes increasing the financed charges and penalties at will. The best practice is not to use such credit cards or enter into such wide open agreements. Many credit card industry practices these days border upon common piracy and consumers need to constantly be on guard against dishonest bank practices.