Ccr defaulting research

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So you are thinking of a Credit Card default:


Points to consider and action to take beforehand:

  • 80+% of small claims actions are no-answer defaults. Some states/counties are 95+%. Consider the fight you are picking beforehand.
  • Consumer debt is different than company debt in the Credit Card world. Look at the Federal/State laws and note how they are geared to protect the consumer. If you signed up for a "corporate" card most states do not protect those.
  • Go to your states public database of court cases. Note how many filings in small claims are for the card you are thinking of defaulting on. (in my state/county Capital One is big on filing suits. Syncronicity is another.) Also note how little they will file on - Some as low as $700. Consider these factors and how badly you want a fight. Some cards never seem to file.
  • Read the paperwork submitted in the local small claims court. They give clues on what works for defenses and what the claims might be. Most states have collection handbooks for lawyers in collections. Visit your local law library and see if they have a copy you can go look at. That is what you will be fighting.