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In this episode of Clear Your Debt, Claim Your Future, Attorney Efstathios Georgiou explains how interest—not spending—is often the real engine behind credit card lawsuits.

Interest does not arrive with a summons, but it quietly transforms manageable balances into unpayable debt. Credit card interest is daily compounded, not simple, and once an account becomes delinquent, penalty APRs, fees, and canceled promotions can cause balances to grow rapidly—even without new charges. Minimum payments often barely cover interest, creating the illusion of control while balances remain inflated for years.

This episode explains:

• How compound interest accelerates debt after missed payments
• Why minimum payments fail to reduce principal
• How interest and fees inflate lawsuit amounts beyond what consumers recognize
• Why higher balances motivate creditors to file lawsuits
• When interest becomes a legal vulnerability due to missing contracts, unclear calculations, or incomplete records
• How challenging interest calculations can create leverage for dismissal or settlement

Doing nothing allows inflated balances to harden into judgments where interest may continue to accrue. Legal defense is about requiring proof—forcing creditors to justify every dollar they claim.

If interest has turned your credit card debt into a lawsuit, judgment, or financial risk, you still have options.

📞 Call (917) 764-3072 for a free case review.

Clear Your Debt, Claim Your Future.

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In this episode of Clear Your Debt, Claim Your Future, attorney Efstathios Georgiou explains why ignoring a summons and complaint is one of the most expensive mistakes a consumer can make when facing debt collection. He clarifies that a summons is not a collection letter—it is the formal start of a lawsuit—and in New York, consumers typically have only 20 to 30 days to respond.

He explains that failing to answer allows creditors to obtain a default judgment without proving their case, which can lead to frozen bank accounts, wage garnishments, and long-lasting property liens. Many people ignore summonses out of fear or because they feel overwhelmed, but creditors rely on that inaction.

The episode stresses that filing a simple answer preserves your rights, forces the creditor to prove their claim, and often creates leverage to negotiate a better settlement. Efstathios Georgiou reminds listeners that responding early is far easier than trying to undo a judgment later, and invites anyone who has been served with legal papers to call for a free consultation at (917) 764-3072.

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Many credit card lawsuits are not brought by your original bank, but by debt buyers who purchased alleged debts for pennies on the dollar. This episode explains how and why banks sell charged-off accounts, what debt buyers actually receive when they buy a debt, and why their cases often rely on consumers failing to respond. Learn how forcing proof—rather than defaulting—can dramatically change the outcome of a debt buyer lawsuit and create real leverage to defend, dismiss, or settle the case on favorable terms.

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This episode from Georgiou Law explains how January is a critical month for consumers with credit card debt. After the holiday season, creditors and debt collectors closely monitor accounts for missed payments, which can quickly escalate into lawsuits if ignored. The episode highlights that ignoring creditor communications increases the risk of legal action, but acting early in January—by communicating, documenting hardship, and seeking legal advice—can help prevent lawsuits and reduce financial stress.

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As the year comes to a close, financial stress often feels heavier — especially when debt, lawsuits, or unpaid balances are part of the picture. In this special December holiday episode of Clear Your Debt, Claim Your Future, attorney Efstathios Georgiou discusses why December is a critical financial crossroads, what creditors are quietly preparing behind the scenes, and how consumers can enter the New Year with clarity and strategy instead of fear.

This episode covers common year-end debt mistakes to avoid, the emotional toll of financial pressure, and practical steps to protect yourself in January — including when to act, when to pause, and when to seek legal guidance. The episode closes with a holiday message and New Year reflection focused on stability, perspective, and forward progress.

🎄 Happy Holidays and Happy New Year from Georgiou Law, PLLC.

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This video breaks down the real decision tree for handling debt: bankruptcy, debt settlement, or litigation defense. Attorney Georgiou explains that there’s no one-size-fits-all answer—your best path depends on your debt, income, assets, and personal goals. The podcast covers when bankruptcy makes sense, when debt settlement is smarter, and when fighting a lawsuit is your strongest move. It also addresses the emotional side of debt and provides a clear, step-by-step framework to help viewers make informed decisions about their financial future.

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This podcast breaks down what happens after a debt is “charged off.” Learn the real meaning of charge off, what banks do with delinquent accounts, and how to protect yourself from lawsuits and aggressive collections. Get practical tips for each stage of the debt cycle from a consumer attorney.

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his episode, presented by a New York City-based law firm, explores how holiday spending habits can lead to credit card debt and, eventually, lawsuits. It explains the psychological and financial traps set by banks and retailers during the holiday season, such as enticing promotions, buy now/pay later options, and store credit cards. The script details how overspending in December often results in missed payments and legal action by summer. It concludes with practical advice for avoiding these pitfalls, including setting strict spending limits and steering clear of risky credit offers, and offers legal help for those already struggling with debt.

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This episode, "Rebuilding After Debt: How to Repair Your Credit and Protect Your Future," guides listeners through the steps to rebuild credit after resolving debt. It covers understanding how credit scores work, cleaning up credit reports, using tools like secured credit cards and credit builder loans, practicing safe credit habits, and protecting against future financial stress. The episode emphasizes consistency, patience, and proactive financial habits to achieve lasting credit improvement and financial resilience.

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This podcast explains how to quickly stop bank restraints, wage garnishments, and judgments in New York. It covers what a judgment is, how bank accounts get frozen, and what steps to take if your account is restrained—including identifying the source, checking for exempt income, filing exemption forms, and consulting an attorney. It also details how wage garnishments work, how to challenge or vacate judgments, and the importance of acting quickly. It emphasizes prevention by responding to lawsuits and keeping records, and encourages viewers to seek legal help to protect their finances.