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FOR IMMEDIATE RELEASE
(Free-Press-Release.com) January 20, 2010 -- Fight Credit Card Companies and end your Debt Today

Credit Cards are Unenforceable Unilateral Contracts!

What most consumers do not realize is that The credit card lender did not loan you any money. They didn't even lend you their credit. They aren't allowed to do that by law. They used YOUR credit to authorize the use of the card. You can very simply establish this by demanding that they validate the debt. That is, someone in a position of authority at the "lending" corporation would have to sign an affidavit under oath that the debt that they claim you owe is a valid debt. They can't and they won't. They have actually committed fraud and now you are asking them to sign for it. No way they want to stick their neck in THAT noose. Failing to sign the affidavit, they just write the debt off as a loss. This normally takes a series of communications and eventually you paint them into a corner and they quit. If they try to have a collection agency get involved, you simply remind them that the collection agency is not a party to the contract and cannot speak for the "lender." They might have an attorney get involved, but the attorney would have to validate the debt, as well, and handled very promptly, exactly and professionally, your process grinds them to a halt.

What about the sudden change in terms that credit card companies suddenly spring on people. They violate the Uniform Commercial Code, The Fair Debt Collection Act and basic contract law. When a party changes terms, there must be an offer, acceptance, consideration (something of value both parties are getting with a new deal) and signatures on both sides. When credit card companies "spring" new terms such as new late fees, higher interest, shorter pay periods, they are violating the law.

Banks rarely go to the trouble and expense of attempting to sue someone who has stopped paying on their credit cards, and that's under normal circumstances! When they know you have evidence that they've violated Federal law it's very unlikely that they will file suit. They certainly don't wish to sign their names to any affidavit of validation. They must obey the regulations that prevent predatory lending in consumer protection laws.


Law Office of Edward Maggio
47 Price Street
Patchogue NY 11772
Phone: 631-627-3477
Fax: 631-270-3971
Email: edward@maggiolawoffice.com

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