What Is In Your Agreement Capital One?

28 Jun What Is In Your Agreement Capital One?

Jay Fleischman, a New York lawyer who protects consumers from debt collection harassment, recently posted an article describing another win for the consumer. In How Long Does A Creditor Have To Sue On A Debt? Jay describes how the foreign law provisions of the credit card agreement were enforced against Captital One Bank.

It seems that the credit card giant sued its Florida cardholder more than three years after the debt matured in violation of Virginia law, the state law specified in the Cardmember Agreement. It takes some smart lawyering and hard work to make a big bank eat their own contract. Congratulations are due.

This brings up the depressing topic of credit card agreements in general. With the national banks allowed to pick their state of origin based on the laws governing their operations, it is high time for the consumer to win a round. Unfortunately, this is a rare occurrence. How many consumers even read the credit card agreement? Isn’t it time for some consumer protection legislation in this area?

Few consumers consult a lawyer when sued over an unpaid credit card debt. When they do, the lawyer consulted would be wise to take Jay Fleischman’s advice and “Always check the Cardmember Agreement”. Actually, lawyers would be wise to take Jay’s advice on many topics. Jay posts frequently on this list, has his own blog covering debt collection harassment and gives lawyers advice on many subjects at his Legal Practice Pro website. When does he find time to practice law?

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I was admitted to practice in 1978. I am certified as a Consumer Bankruptcy Specialist by the American Board of Certification. I regularly speak on tax and bankruptcy issues at state, regional and national conferences. Years of experience in practice before the Internal Revenue Service and Oregon Department of Revenue have given me the background to resolve a large variety of consumer tax issues.
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