Discover Bank is one of the largest issuers of credit cards in the country. If you’re behind on your Discover Card bill, the bank will eventually take steps to collect from you. Credit card debt can lead to debt collection letters, but those will likely be just the beginning. Lawsuits and judgments could quickly follow. The good news is that you don’t have to face Discover Bank on your own. The Fullman Firm can help you settle your account with Discover once and for all, saving you time and money in the process.
Does Discover Bank Sell Their Old Debts?
Many creditors sell their defaulted accounts to debt buyers. But Discover Bank generally keeps their accounts and pursues the debtors on their own. That means if you stop paying your credit card bill, Discover Bank will at some point sue you. And you can be sure that Discover Bank will demand everything it claims you owe – late fees, interest, lawyer fees, and court fees, for example. Whether Discover Bank is directly taking action against you or it’s sold the debt to a collector, we can help you.
How Discover Bank Collects On Its Debts
Although every credit card company does something a little different with unpaid accounts, most of them follow the same basic steps.
If you fail to pay your Discover Card bill for several months, the company will classify your account as a charge-off, meaning the bank has written off the account. Don’t let this term fool you. A charge-off doesn’t necessarily mean the account has been sold to a third party, and it certainly doesn’t mean the bank (or someone else) will stop trying to collect what you owe.
Discover Bank will take aggressive action to try to collect. The company may start with phone calls and letters, but you will eventually be contacted by a law firm representing the bank. Alternatively, Discover Bank could end up selling the debt for pennies on the dollar, but that just means a debt buyer will pursue you instead. That company will also file a lawsuit against you sooner or later.
What To Expect In A Debt Collection Lawsuit
A debt collection lawsuit starts with the filing of a summons and complaint. While the complaint contains the factual allegations against you – such as your identity and the unpaid balance you supposedly owe – the summons orders you to respond to the lawsuit. Once you are served with the complaint and summons you will have thirty days to answer by filing your proper legal response with the court.
You should read the complaint and identify any errors. You should also take advantage of your right to answer the lawsuit. You may have legal defenses that you can assert against Discover Bank, especially if there are mistakes in the court papers. It’s important that you retain an attorney to help with answering the lawsuit since there are various formatting, notice, and procedural rules involved in doing so.
You may receive discovery requests from Discover Bank’s attorneys. Discovery is a process that parties use to obtain relevant information from other parties in a lawsuit. Correctly responding to these requests is essential to protecting your rights, and an attorney can assist.
Expect to receive a trial date at some point. If you skip the trial, Discover Bank will simply obtain a default judgment against you. If you legitimately owe the money, Discover Bank will almost certainly obtain a judgment anyway. A court judgment can be used to take additional action against you to collect on the debt, including bank levies, property liens, and wage garnishment.
How A Debt Settlement Attorney Can Help You
It may seem like you don’t have a lot of options for dealing with Discover Bank. But you have a valuable tool that our law firm specifically uses on behalf of clients with credit card debt: debt settlement.
Even if you’ve been sued or had a judgment entered against you, debt settlement is still available. It is recommended that you take action sooner rather than later to be in a better negotiating position, but don’t disregard the immense value debt settlement can offer.
Why would Discover Bank want to settle your account for less than you actually owe? The bank knows that even with a judgment in hand, it will take time (and money) to track down assets and take the additional steps needed to enforce that judgment. Creditors often prefer to avoid this hassle, get what they can from the debtor, and write off the rest.
With debt settlement, you will offer a lump sum amount (less than what you owe) in exchange for Discover Bank agreeing to waive the balance. Having an experienced debt settlement attorney is critical to ensuring the settlement is effective. Many debtors “settle” their accounts over the phone, but have no proof a deal was reached. Weeks or months later the creditor then demands the full balance and conveniently “forgets” about the settlement.
Our firm knows how to draft debt settlement agreements that permanently resolve debts in favor of our clients. We can save you time, money, and stress by working out an agreement with Discover Bank.
Contact Our California Discover Bank Debt Settlement Attorney
If you’re tired of dealing with Discover Bank and other creditors, it’s time to let the dedicated debt settlement lawyers of The Fullman Firm go to work for you. We will negotiate with Discover Bank on your behalf to resolve your debt once and for all. Our firm offers flat fees and affordable payment options, and we can get started on your case today. Give us a call to learn more.