Legal Question in Credit and Debt Law in Massachusetts

I'm sorry to hear you are being sued. Creditors are very active calling in past-due debts, and there are many others in your position.

To answer your question directly, a judge is generally not going to set aside a contract between two adults simply because one party makes a considerable amount of profit. The court will assume that you understood when you agreed to borrow money at a certain interest rate that interest and late fees are charged on balances.

Please understand that I am not a fan of credit card companies, and I spend much of my time representing debtors in your very situation, I just don't think your defense is a viable one.

A couple things you can look for:

1. Make sure that the plaintiff has filed suit within the 6 year statute of limitations. That means that suit must have been commenced *roughly* within 6 years of your last payment or charge.

2. You may be able to make an argument - if it is true - that the credit card company unfairly dragged its feet in filing suit while it allowed interest and late fees to add up. Usually, you will find that an account is internally 'charged off' within 6 months of your failure to pay.

3. You may also want to argue that HFC was not the original creditor, and demand that they produce evidence of a valid assignment of the debt.

Without an attorney to assist you, the credit card company will run circles around you. My advice is to retain an attorney, put together a plan, and settle the debt for a percentage of the full amount they are claiming you owe.

Slim to none. You need counsel to defend. Feel free to contact me.