Two of the highest rate filers are Discover Card and Capital One, with Discover Card probably outstripping Capital One at a rate of 5 to 1.

I’m not sure why they’re doing this.  In Pennsylvania, credit card companies are not able to garnish wages, however they are able to garnish bank accounts.  In my experience the average person being hauled into court for credit card debt doesn’t have more than a couple hundred dollars in a bank account at any given time, so I don’t really understand why these credit card companies are going to the expense of getting a judgment.

It can’t be to have priority in a bankruptcy proceeding because at the end of the day they still unsecured creditors in a Chapter 7 bankruptcy and are probably not going to get anything.  They can’t garnish wages because as mentioned above they are not allowed to.  So why are credit card companies now suing in the Magistrate and Court of Common Pleas courts the state of Pennsylvania?

I think it’s about intimidation.  The average consumer doesn’t know that a credit card company cannot garnish wages.  The average consumer doesn’t know the credit card company can garnish a bank account.  The average consumer who has a charged off a credit card probably has other credit card debts and other debts pressuring  them, and it might be that the credit card company wants to be the first on their list to be paid.

It probably isn’t worth the day you will lose taking off from work to fight this suit.  You need a competent attorney to defend your rights, and you need one quickly.  If you owe Capital One, Discover or some other renegade credit card company$4000 and they get a judgment, and then they somehow grab it from your checking account in a garnishment, that money is gone forever.

The most important the thing about dealing with your debt problem is being in control.  It’s a roller coaster ride up and down from 0 to 150 mph in a second.  Scary eh?  What’s scarier is that you’re at the control of this roller coaster.  You can either let go a handle and let things fall the way they may, which will almost always result in your creditors taking advantage of you, or you can choose to control the situation yourself.

Before some rogue credit card company gets a judgment against you and pulls the last money you had saved out of your emergency fund, to pay for months of late fees finance charges inflated attorneys fees, you should contact an attorney who will help defend your rights.  Yes the credit card companies have rights, and they are not shy about defending them, but you have rights too, and you probably don’t have the time to defend them while you try to make it through to the end of this week.  The credit card companies have an army of attorneys to defend their rights, don’t you owe it to yourself and your family to take advantage of at least a free consultation?

When you are ready to defend yourself against rogue credit card companies, out-of-control debt collectors, and all the other financial creatures that go bump in the night, contact me at 484-661-2891 or e-mail me at Jim at padebt@911.com for your free no obligation consultation.