Oklahoma City, OK (PRWEB) May 16, 2012
The Oklahoma bankruptcy lawyers at the law firm of Atkins & Markoff, a firm of bankruptcy attorneys who dedicate their time to representing consumers and businesses with regards to their financial difficulties, hereby warn the public of reports of a sharp increase in the number of defaults by credit card holders of accounts issued by Capital One, one of the largest credit card issuers in the world. The Oklahoma bankruptcy attorneys at the firm advise anyone facing the possibility of a default on any credit account to seek professional help so that a solution can be identified.
Capital One files its latest regulatory documentation with the Securities and Exchange Commission, and part of that documentation detailed the percentage of accounts that were moved into the classification of default during the month of April of 2012. The lender reported that the default accounts rose to a rate of 4.07 percent, which represents a sharp increase in these accounts when compared to March, when the default accounts constituted 3.85 percent.
When a credit account moves into default status, it means that the lender has declared that the account as uncollectable and is thereby written off of the balance sheets of that lender. Many times, these accounts deemed as uncollectable are sold to debt collectors who can then continue with their collection efforts against the borrowers who failed to maintain their payments.
The Oklahoma bankruptcy lawyers at Atkins & Markoff advise any consumer who may be facing the possibility of having a credit account charged off as uncollectable to seek professional help as soon as possible so that a solution can be mapped out before aggressive debt collectors become involved in the situation and a borrower’s credit rating can be substantially harmed by this delinquency.
About Atkins & Markoff
The Oklahoma bankruptcy lawyers at Atkins & Markoff, whose law firm Web site URL can be found at http://www.OklahomaBankruptcyLawCenter.com, is a law firm comprised of Oklahoma bankruptcy attorneys who have been representing consumers since 1999 in bankruptcy-related legal matters that include Chapter 7, Chapter 11 and Chapter 13 bankruptcy cases as well as debt consolidation and credit counseling matters. The firm represents consumers in bankruptcy cases throughout the state of Oklahoma.