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3 Secrets Revealed About Credit Card Debt


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Discover the insider credit card debt secrets you must know. Top 3 secrets revealed in this slide share.

Published in: Economy & Finance, Business
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3 Secrets Revealed About Credit Card Debt

  1. 1. 3 Secrets Revealed About Credit Card Debt
  2. 2. Secret 1 Credit card companies cant prove YOU owe the debt. When it comes to collecting on credit card debt the creditor must haveenforceable security interest to first do so. The main reason why credit cardjudgments can be stopped is because credit card companies IF ever challengedcan rarely prove how they are owed the debt! What most consumers dont understand is that the burden of proof is on thePlaintiff and not the Defendant. What this means is that the creditor must beable to prove you owe the debt and they are the proper party to collect on thedebt. Most credit card companies cant prove that consumers owe the debt!They cant make YOU pay what they cant prove you owe them!!
  3. 3. Secret 2 Credit card companies want to scare you by filing a lawsuit to makeyou believe that you are in BIG trouble! The Plaintiff in a credit card lawsuit is generally the credit cardcompany or debt collection agency. Sure, they hire an attorney as ascare tactic by taking the consumer to CIVIL court. Credit card lawsuitsare not generally criminal cases. Read your credit card lawsuit it willgenerally say CIVIL ACTION! Only in a Criminal Action can you go to jail,not Civil. However, Creditors use the courtroom as a scare tactic to makethe consumer feel as if they are in really BIG trouble.
  4. 4. Secret 3 Credit card companies depend on you NOT challenging them in court or appearing! Dont allow having to defend yourself in a court of law scare you away from challenging the creditor!Many well respected citizens and also powerful people go to court everyday on civil action matters. In fact,it is your Constitutional right to defend yourself against any action brought against you. Amendment XIVSection 1. “All persons born or naturalized in the United States, and subject to the jurisdiction thereof, arecitizens of the United States and of the state wherein they reside. No state shall make or enforce any lawwhich shall abridge the privileges or immunities of citizens of the United States; nor shall any state depriveany person of life, liberty, or property, without due process of law; nor deny to any person within itsjurisdiction the equal protection of the laws.”Well, how do these credit card companies and collection agencies keep winning in court? Thats becausemost consumers dont challenge them to actually make them prove that they are the proper secured partyto enforce security interest... In fact, most consumers dont even show up to attend the hearing they justlet the creditors win by default. If you fail to make an appearance the creditor wins against you just by younot showing up to defend yourself. Thats how the legal system works.... If you dont show up youautomatically lose by default. The creditor wins a default judgment against you.
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