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Unpaid credit card debts can lead to significant financial challenges for businesses and individuals alike. Whether you are a creditor, financial institution, or business trying to recover delinquent accounts, legal intervention may be necessary to protect your financial interests. At Faloni Law Group, LLC, we offer comprehensive legal assistance in credit card debt collection for clients in Roseland, NJ, and the surrounding communities. Our team is committed to helping you recover outstanding debts in a timely and efficient manner.
What is Credit Card Collection?
Credit card collection is the process of recovering unpaid balances from consumers who have defaulted on their credit card payments. When a borrower stops making payments, the creditor has the legal right to pursue the outstanding debt. Credit card debts can become complicated when borrowers refuse to communicate, dispute charges, or claim financial hardship. Without proper legal support, the process of recovering these debts can be both time-consuming and challenging.
At Faloni Law Group, LLC, we work with clients to resolve these matters by offering strategic solutions for debt recovery. Our goal is to help you collect what is owed while adhering to legal standards and minimizing unnecessary costs.
We handle a wide range of credit card collection matters for creditors, businesses, and financial institutions. Some of the most common types of credit card debts we work with include:
Unpaid credit card debts can have a significant impact on your financial health and stability. Creditors, lenders, and businesses rely on the repayment of debts to maintain cash flow and operational efficiency. Without consistent collection of outstanding debts, businesses and financial institutions may struggle to meet their own financial obligations. Recovering unpaid credit card debt is essential for:
Challenges in Credit Card Collection
Credit card collection presents several unique challenges. Borrowers may become unresponsive, dispute the charges, or even file for bankruptcy to avoid repayment. Legal support is often essential in overcoming these challenges and ensuring debts are collected within the bounds of the law.
Borrower Non-Responsiveness. One of the most common challenges in credit card collection is when borrowers simply stop communicating with the creditor. In many cases, borrowers may be avoiding repayment due to financial hardship or other personal reasons. When this occurs, it can be difficult to collect what is owed without legal intervention.
Disputed Charges. Borrowers may dispute the validity of certain charges, leading to delays in the collection process. In these situations, having legal support to investigate and resolve the dispute is critical to ensuring a timely resolution.
Bankruptcy Filings. If a borrower files for bankruptcy, recovering credit card debts becomes more complicated. Bankruptcy can result in debts being discharged or reorganized, which can impact how much of the outstanding balance is recoverable. Our attorneys work with creditors to navigate the bankruptcy process and protect their rights in these situations.
Statute of Limitations. Credit card debts are subject to a statute of limitations, which limits the amount of time a creditor has to take legal action to recover unpaid debts. In New Jersey, the statute of limitations on most credit card debts is six years. Once this time period has passed, the debt may no longer be legally enforceable, making it important for creditors to act promptly.
At Faloni Law Group, LLC, we provide a range of legal services to help creditors, businesses, and financial institutions recover unpaid credit card debts. Our strategies are tailored to meet the unique needs of each client, ensuring debts are collected efficiently and in compliance with the law.
Negotiation and Settlement. In many cases, negotiating a settlement with the borrower can be an effective way to recover the debt without going to court. Our attorneys work with both parties to reach an agreement that allows the borrower to repay a portion of the debt while the creditor recovers as much as possible. Settlement negotiations can save time and reduce the cost of collection.
Litigation. If negotiation is not an option or the borrower refuses to cooperate, we may pursue litigation to recover the debt. Our attorneys represent creditors in lawsuits against borrowers who have defaulted on their credit card payments. We work diligently to secure a judgment in favor of our clients and enforce the judgment as necessary.
Post-Judgment Collection. Once a judgment is obtained, collecting the debt can still be a challenge if the borrower refuses to pay or hides assets. We provide post-judgment collection services, which may include wage garnishment, bank levies, or placing liens on property to ensure the judgment is satisfied.
At Faloni Law Group, LLC, we understand the complexities of credit card collection and the legal challenges that creditors face. We are committed to providing personalized legal services tailored to meet the specific needs of each client. Whether through negotiation, litigation, or post-judgment enforcement, our team works tirelessly to recover the debts owed to you.
Client-Centered Approach. We take the time to understand your business, financial goals, and the specific challenges you face in recovering unpaid debts. By developing customized legal strategies, we provide solutions that align with your objectives and protect your financial interests.
Legal Knowledge and Experience. Our attorneys are well-versed in New Jersey’s credit card collection laws and the federal regulations governing debt collection practices. We are committed to providing sound legal guidance while ensuring compliance with all applicable laws.
Results-Driven Representation. We focus on delivering results for our clients, whether that means negotiating a fair settlement or pursuing litigation to recover what is owed. Our goal is to help you recover unpaid debts efficiently and minimize potential losses.
If you are struggling to collect unpaid credit card debts, Faloni Law Group, LLC is here to assist. We proudly serve clients in Roseland, Livingston, Montclair, Caldwell, Verona, and surrounding New Jersey communities. Contact us today—visit our website or call (973) 226-0050 to schedule a consultation with one of our credit card collection attorneys. Let us help you recover the debts owed to you and protect your financial future.
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