Nine major credit card issuers — including Credit One, Discover, Barclays, and Synchrony — are under investigation for allegedly illegal debt collection calling practices. Consumers in 10 states may have legal rights.
AmEx settled $17.5M antitrust lawsuit. Visa, MC, Discover non-rewards cardholders in Illinois 2015-2022 may file a claim by May 19, 2026.
Quick Answer: A dismissed Discover lawsuit doesn’t necessarily prevent new collection efforts, as cases dismissed “without prejudice” can be refiled by debt buyers. The debtor should consult a licensed attorney to challenge the new collection based on statute of limitations or proof of debt ownership.Question:Dear Steve,The Discover debt that I got sued for was dismissed …
Quick Answer: Capital One and Discover do settle debts, but settlement depends on which internal collection department handles the account at different stages of delinquency. Early-stage collections won’t offer settlements, while later-stage departments are more likely to negotiate reduced payments or refer accounts to settlement programs.Question:Dear Steve,I have 2 charged-off accounts, and I want to …
Quick Answer: The Debt Relief Bureau mailer is misleading and potentially fraudulent, as it uses the “Debt Relief Bureau” name while stating in fine print that it’s “not a Debt Relief Bureau (DRB) approved or endorsed advertisement.” The anonymous mailer from Fort Wayne, Indiana promises 40-60% debt reduction but includes disclaimers that the figures are …
Quick Answer: A statute of limitations on debt means creditors cannot sue after a certain period, but they can still attempt collection indefinitely. The debt becomes legally unenforceable in court, though making any payment or acknowledging the debt can restart the statute of limitations clock entirely.“Dear Steve,I was with Note World Settlement for a long …
Quick Answer: A charged-off Discover Card can hurt credit but making payment arrangements may prevent lawsuits on the $13,000 debt. Defaulting on the second current Discover account would only add another negative entry without improving the borrower’s situation with the charged-off debt.I have $13,000 worth of credit card debt that has been charged off. The …
Quick Answer: Discover Financial Services’ record-low delinquency rate of 2.79% (down from 4.39% a year earlier) helped more than double the company’s profit during Q2. The 25-year low in late payments, combined with increased credit card balances and sales volume, signals improving consumer financial health and growing market share for Discover. Discover Financial Services (DFS) …
Quick Answer: Balance transfer payoff means systematically eliminating debt moved from higher-rate cards, but Discover’s payment allocation shows the strategy may backfire. The reader’s $4,500 at 13% continues accruing interest while minimum payments go to the 0% balance, potentially creating more debt than originally transferred.“Dear Steve,I am $9000 in debt on Discover. 1/2 of the …
Quick Answer: Debt settlement involves negotiating with creditors to pay less than the full amount owed, but Discover refused the reader’s hardship request on $5,000 debt. Legitimate credit counseling companies charge minimal fees unlike debt settlement firms that take large upfront costs, and bankruptcy remains a viable option despite being told otherwise.“Dear Steve,I have credit …
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