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Monday, August 13, 2012

''Judge: 90% of Credit Card Lawsuits Can’t Prove Borrower Owes Money''

From NakedCapitalism

''Credit card debt collection may achieve the dubious distinction of making mortgage servicers look good.

The New York Times has been keeping a bit of a watch on this area, and reported earlier that credit card debt collection was a heavy user of robosigned affidavits. A new story recounts how credit card companies frequently file erroneous lawsuits, sometimes saying a customer owes money when they’ve paid off the balance (sound familiar?) but more often, the consumer disputes the accuracy of the balance. And unlike foreclosure-land, where even after the revelation of widespread and varied mortgage abuses, most judges are pro-bank, in the credit card realm, the conduct of lenders is so bad that experienced judges are skeptical of them.''

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