For years, credit card companies flooded consumers with offers of easy credit. Banks offered loans and mortgages with very little verification of people's ability to repay; consumers could also use credit to buy cars, furniture, appliances, or make other large purchases. Many people who took advantage of the "easy" offers of credit found themselves subject to hidden fees and interest rate increases, as well as other contract terms they had not understood--and quickly became trapped in a quicksand of debt.

Various state and federal laws passed in recent years aim to help consumers and keep credit providers from taking advantage of their customers. Such laws demand that credit issuers disclose key information, and prohibit unfair practices in the billing, reporting, and collection of debt. Both Pennsylvania and New Jersey have laws that prohibit unfair and fraudulent business practices in general--as well as more specific laws that focus on particular types of creditor practices. One important new federal law is the Credit Card Accountability, Responsibility, and Disclosure Act (CARD); new rules issued by the Federal Reserve as part of the implementation of the CARD Act went into effect as recently as February 22, 1010, and August 22, 2010. The passage of the CARD Act and its related rules shows a new willingness to examine and control the practices of credit issuers that drove so many people into a financial mess. However, many people are not aware of their rights and don't use the law in their defense.

If, like so many other residents of Pennsylvania and New Jersey, you find yourself facing a mountain of debt and are not sure how to deal with it, you should discuss your circumstances with an attorney who understands the various laws and regulations that apply to consumer credit. An experienced attorney can determine whether your credit issuers complied with the requirements of laws meant to protect you, and whether any violations on their part may provide you a path toward relief.

For a free consultation about your consumer credit concerns, please contact the Law Firm of John M. Kenney, P.C., right away. For more than 27 years, Mr. Kenney has served clients throughout Bucks County, Montgomery County, Philadelphia County, and Mercer County in New Jersey.

To discuss your options with an experienced and effective Pennsylvania consumer credit attorney, please call (215) 547-3031, email jmk@jkenneylaw.com, or fill out and submit our "Contact Us" form.