Class Action Lawsuit – Tune In Tomorrow!
by Mr Credit CardCredit card companies have been unexpectedly lowering consumer’s credit limits. This is not only embarrassing, but it can seriously damage your credit score. Consumers who have made on time payments for years are still having their limits reduced.
Many of you have told us your stories, and requested information on a class action lawsuit against the credit card companies. We are pleased to announce that you can tune in tomorrow for the results of our investigation into this situation.
We have recorded an interview with Mr. Samuel Deskin of The Deskin Law Firm.
Mr. Deskin discusses the possibility of a class action lawsuit, and what you need to do if you would like to be a part of it.
The interview will be featured here on Ask Mr. Credit Card’s Blog, and you can listen to it any time after 8:00 am PST.
If you know anyone else who has had their credit card limits unexpectedly lowered, please invite them to listen to the interview as well.
Thanks,
Mr. CC
January 18th, 2009 at 21:37
I read the text of your telephone conference with Deskin Law firm regarding the reduction of credit card limits and the adverse consequences re FICO scores, which basically will remain a permanent red flag on our credit scores.I came away quite disappointed with the attorney’s attitude, expecially when his response to starting a class action law suit was “it depends” upon the small print in the credit card agreement, which usually reserves the option of the credit card issuer to arbitrarily “change the terms” as it sees fit. Changing the terms has nothing to do with forever ruining the credit cardholder’s FICO scores, which in itself remains a legal “tort” (wrongdoing or injury)) to the cardholder who was never in default and who previously had an excellent credit rating. A class action could therefore be brought as a Tort action. I suggest consulting a different law firm.