Legal Question in Credit and Debt Law in California

wf business visa card

Due to a medical injury to my right wrist, I was unable to pay the minimum payment on my business visa card. I have maintained the account in good status for the last 12 years!! They informed me that there was no payment plan available to me. They put me into the default rate of 25.99%. They have doubled my finance charges and are charging me late fees and overthelimit fees. I am self-employed and I cannot make the payments anymore. I tried to be proactive from day one but they are now legally robbing me! Please inform me as to what my resources are at this point in time. Can they sue me and or put a lien on my home?


Asked on 12/14/08, 11:55 am

1 Answer from Attorneys

Robert F. Cohen Law Office of Robert F. Cohen

Re: wf business visa card

First, you might want to no longer use the card. Second, Congress is considering restricting credit card interest rates to lower level. That might occur in the next session.

As for your card, I would go to the local branch and talk to the manager. Perhaps she/he might have some clout. Also, you might have an attorney in your area try to negotiate with its attorneys. FYI, the statute of limitation for bringing suit is 4 years from the date of the last payment.

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Answered on 12/14/08, 1:02 pm


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