Credit-card debt

Credit-card debt is negotiable. The first step is a letter.

We send the validation letter that compels the issuer or third-party collector to prove the debt under §1692g, and from there negotiate, settle, or take it to court if it can't be substantiated. The calls stop. The credit-report fallout gets cleaned up.

Or call us directly (212) 461-4026 Mon–Fri, 9–5 ET
From a recent client

"I owed three different collectors on cards I'd had for years. After the validation letters went out, two of them went away entirely. The third we settled for under a third of what they were demanding."

M
Maya, San Diego
Resolved $19,400 across three card accounts
~80%
Of charged-off card debt is sold to third-party buyers
~30%
Typical settlement on validated buyer-held debt
$0
For the consultation
The problem

Most "credit-card debt" isn't owed to the bank anymore.

Once a card account goes 180 days past due, the issuer charges it off. Most often the file is then sold to a third-party debt buyer for cents on the dollar. The buyer collects on the full balance, sometimes through their own collection agency, sometimes through a fourth or fifth hand.

By the time a debt has been bought, sold, and bought again, the documentation chain is often broken. The original signed agreement, the unbroken assignment record, the account statements showing how the balance grew. Many third-party buyers don't have all of them. They count on you not to ask.

The reason credit-card debt is the most-collected and most-litigated consumer debt isn't because it's the most legitimate. It's because it's the most freely traded.

The solution

Make them prove it. Most can't, and the ones who can will negotiate.

We send the validation letter under §1692g requiring the current holder to produce documentation: the original contract, the assignment chain showing how the debt got from the issuer to them, and account statements explaining the balance. Most third-party buyers can produce some of it; few can produce all of it.

What's missing is often what kills the case for them. From that footing, we negotiate. When the holder refuses to negotiate, the matter waits until they sue. The same documentation gaps then become defenses to the lawsuit.

The FCRA dispute follows in parallel. If the trade line on your credit report is inaccurate (wrong amount, wrong status, reported beyond the seven-year limit), §1681i requires the bureaus and the furnisher to investigate and correct or delete it.

The outcome

The calls stop. The matter resolves. The credit report gets cleaned up.

Three things happen in sequence. First, the calls stop, under §1692c(c) once written notice has been given. Second, the matter resolves through one of three paths: settlement at a fraction of the demand, full invalidation when the holder can't substantiate, or court defense if they sue rather than negotiate. Third, the credit-report fallout gets addressed: late-stage trade lines are disputed under FCRA, and successfully invalidated debts get removed.

We don't pretend to make the debt vanish on contact. Sometimes it does, when the chain is broken. Often it gets settled at a fraction of what was demanded. Either way, the calls stop, the matter ends, and your credit isn't the long-tail problem it might have been.

The process

From first call to closed file, four steps.

No surprises in the timeline. The cease letter is the first concrete action and lands within days of engagement.

01 · INTAKE

Engagement

Free consultation, identify the holders and original issuers, line up statements and any collection notices you've received.

02 · CEASE & VALIDATE

The letters go out

§1692c(c) cease letter to stop contact, §1692g validation demand to compel documentation. Usually within days of intake.

03 · NEGOTIATE OR DEFEND

Resolution work

Settlement when the holder is willing, court defense if they sue rather than negotiate. Most matters resolve here.

04 · CLEAN UP

Credit-report follow-through

FCRA disputes on inaccurate trade-line reporting, removal of invalidated debts, correction of paid-and-settled status.

Federal law that applies

Three statutes do most of the work.

Card-debt cases live primarily under the FDCPA and the FCRA, with TILA disclosure rules in the original-issuer context.

FDCPA · 15 U.S.C. §§ 1692

Fair Debt Collection Practices Act

The cease letter (§1692c(c)), the validation demand (§1692g), and the damages claim (§1692k) all live here. Applies to third-party collectors and debt buyers. Original issuers are covered separately under TILA.

Read more
FCRA · 15 U.S.C. §§ 1681

Fair Credit Reporting Act

Disputes under §1681i force the bureaus and furnishers to investigate inaccurate trade lines. The seven-year reporting limit under §1681c bounds how long a charge-off can sit on your report.

Read more
TILA · 15 U.S.C. §§ 1601

Truth in Lending Act

Applies in the original-issuer context: required APR and finance-charge disclosures (§1638), billing-error dispute rights (§1666), and lender liability for disclosure violations under §1640.

Read more
Recent outcomes

Three clients, three card-debt resolutions.

Names changed, amounts approximate. Each matter started with a buyer or a collector and ended at a closed file.

★★★★★

Two of the three buyers couldn't come up with the original contract. Those collections went away on their own. The third we settled for less than a third of what they were demanding, in writing, with the trade line removed afterward.

D
Devon, St. Louis MO
$22,800 across three card accounts · 2 invalidated, 1 settled
★★★★★

The collector had been calling for months. After the validation letter went out the calls stopped. We didn't even get to the negotiation step. They sent a closure letter four months later and the report was corrected within sixty days.

P
Priya, Sacramento CA
$5,400 charge-off · invalidated
★★★★★

My credit was the bigger problem than the debt itself. Two collections that were over seven years old were still showing. The dispute under §1681c got both removed, and the open collection got disputed and removed too after the buyer didn't respond.

G
Greg, Pittsburgh PA
3 stale trade lines · all removed
How this is different

Three options, three different outcomes.

When you owe on a card, you have three real options. Only one is run by attorneys with a duty to your interests.

Credo Legal
Settlement company
Doing nothing
Can demand validation
Yes. §1692g letter from a law firm.
No. Settlement firms aren't law firms.
No. Calls and statements continue.
Can stop the calls
Yes. §1692c(c) cease letter, immediately.
Sometimes redirects calls to the company; the underlying right isn't theirs to invoke.
No.
Cost structure
Flat monthly fee, court representation included.
Percentage of debt settled plus monthly contributions to a settlement pool.
No fee; consequence is interest, fees, lawsuit, default judgment.
Effect on credit
Trade lines disputed, corrected, and (when invalidated) removed.
Late-payment marks accumulate during the program; settlements show as "settled for less."
Charge-off, collection, and (eventually) judgment marks accumulate.
If they sue
An attorney in your state files the Answer and defends.
No representation. You'd have to retain separate counsel.
Default judgment is the typical outcome.
Credit-card debt | FAQ

Common questions, plainly answered.

How is this different from settling the debt myself?
You can settle on your own. The difference is leverage. Settlements negotiated after a validation demand has produced documentation gaps tend to land at a fraction of what an unrepresented consumer can negotiate cold. The other difference: if the holder sues instead of settling, you have an attorney already on file.
What if the original issuer is the one calling, instead of a collector?
The FDCPA covers third-party collectors. With original issuers, different federal laws apply: TILA disclosures, billing-error rights under §1666, plus the practical fact that issuers rarely want to litigate small balances. We negotiate those matters under TILA and FCRA.
Will my credit score improve?
It depends on what's currently on the report and how matters resolve. Removed trade lines (after invalidation) generally improve the score. Settled-for-less marks are still negative, but less so than open collections. Your attorney walks through the likely report path on the first call so there are no surprises.
How long does this take?
Cease letters land within days. Validation responses (or non-responses) come back within 30 days under §1692g. Negotiated settlements typically take a few months. FCRA dispute resolution is 30 days per cycle. Most card-debt matters close within 6 to 12 months; complex multi-account cases run longer.
Can I keep using my card while this is happening?
If the account hasn't been closed by the issuer, technically yes, but it's rarely a good idea on an account that's headed for charge-off. Your attorney advises on use-or-stop after seeing the statements.

Stop the calls. Make them prove the debt.

Tell us what you owe and to whom, and we'll send the cease and validation letters within days, at no cost for the consultation.

Or call (212) 461-4026 · Mon–Fri 9–5 ET