Category Archives: Financial Law

Credit Cards Constant Source of Danger to Consumers and Businesses

Dear Reader,

This is not new news for any of us, but credit cards are the easiest way for our financial immune system to become compromised.

Each persons or businesses finances are like a human body in the sense that they need nutrients (income, on time payments, proper business practices, and keeping your debt levels under control), protection from attack (balancing your accounts, tracking your payments and withdrawals online, perhaps a monitoring service), and sometimes your finances need major surgery (debt consolidation, budget and expenses changes, and possibly restructure or liquidation through bankruptcy).

In the article from CNNMONEY, it can be easily seen that no matter what we do to protect ourselves financially a compromise can come from outside of our own actions.  As is stated in the article “sources say the hackers have begun using some of the card data they stole”, that means that business owners and personal individuals have already been harmed by the lack of protection that credit card giants offer their consumers.

It is especially sad to realize based on the dates of the CNNMoney article (also reported here in ABC Money)  that the consumers are not warned for long periods of time, some as many as two months.  Often this means that the damage has been done and cannot be reversed without extensive effort of the consumer.  In fact it is the process of ridding ones self of these invasions of fraudulent credit card claims that makes hiring a professional so important.  It only takes reviewing a few accounts from online blogs to see the pain and difficulty businesses and families face when trying to undo the damage.  Many clients have turned to Attorney Luke Garcia to help them both preemptively and reactively.

First and foremost, if you are a business and you set up proper corporate formation through an attorney you will be less likely to suffer any long term ramifications of such a credit breach.  And if you have general counsel, they will know how to monitor and undo the damage.

Second, if you have already been breached it may escalate to the level where your only hope is to make forceful negotiations with the credit card giants to recover your good name.  This is very hard to do when it is your first time and it is very good to get an attorney involved.

Finally, if all else fails you may even need the protection of bankruptcy to salvage your personal financial health.

Don’t live with a compromised financial immune system, get proper protection, correction, and possibly surgical resurrection through Luke Garcia both a business and bankruptcy attorney.  Call today to get a free appointment.