What You Should Know if Facing a TD Bank Debt Collection Lawsuit in Texas

If you are being sued by TD Bank or TD Auto in a debt collection lawsuit,  it is normal to feel scared and overwhelmed. You may also feel confused if you do not recognize the company. However, you may have more legal options than you think to defend yourself, reach a settlement, or even get the case dismissed. 

At Warren & Migliaccio, we defend and assist individuals facing collection lawsuits in Texas. We provide our clients with affordable legal representation to help them reach favorable resolutions to their cases. If TD Bank is suing you, contact us today to discuss potential solutions to your case.      

Who Is TD Bank USA, N.A.? 

TD Bank USA, N.A. is a national bank headquartered in Cherry Hill, New Jersey. It is also known as TD Bank and TD. It is the United States subsidiary of the multinational banking and financial services company Toronto-Dominion Bank. Toronto-Dominion Bank has its headquarters in Toronto, Canada. Collectively, the bank and its subsidiaries are known as TD Bank Group.

Even though TD Bank is one of the largest commercial banks in the United States, you may have never heard of it. It is possible you never opened a credit card account with TD, so how is it possible it is suing you? 

Does your lawsuit notice list “TD Bank USA, N.A. as Successor in Interest to Target National Bank” as the plaintiff suing you? If this is the case, the original credit issuer was Target National Bank, not TD Bank. However, TD Bank acquired Target National Bank and its card portfolio in 2013. 

Who Is Target National Bank?

Target National Bank was the primary issuer of the national retailer Target’s credit cards, like the Target REDcard™. When TD Bank obtained Target National Bank, it also acquired its credit card accounts, including delinquent accounts. Now, all co-branded and private Target credit cards are through TD Bank. Therefore, if you have a Target REDcard™ credit card that you opened with Target National Bank, the creditor is TD Bank.  

Why Is TD Bank Suing Me?

When TD Bank acquired Target National Bank, it also received its delinquent credit card accounts. It is common for creditors to file lawsuits against cardholders to try to recover outstanding debt. If you have delinquent debt on a Target credit card, TD Bank may sue you in an attempt to get the money. 

Who Represents TD Bank? 

Rather than manage debt collection lawsuits themselves, it is common for financial institutions to hire experienced attorneys to handle them. You likely heard from its lawyers if you received a notice that TD Bank is suing you. A couple of law firms that handle its Texas cases for debt collection include, but are not limited to:

• Rausch Sturm Israel Enerson & Hornik LLC
• Javitch Block LLC

These law firms exclusively pursue debts on behalf of their clients. They have substantial experience dealing with debt collection. Because of this, we recommend working with an attorney with extensive experience in defending collection lawsuits. You are more likely to get a better case result with a debt resolution attorney on your side.

How to Settle Credit Card Debt When a Lawsuit Has Been Filed

Have you already received a summons for a debt collection lawsuit? Our North Texas debt collection defense attorneys understand that you may be stressed about the legal process and going to court. However, even if TD Bank is suing you, you may be able to negotiate a settlement before or during the litigation process.  

Our North Texas debt collection defense attorneys know firsthand that creditors are generally open to settlement negotiations. There may be a few reasons for this, including, but not limited to, a settlement allows a creditor to:

• Save money on litigation costs
• Recover debts quicker than through a lawsuit
• Avoid the risk of losing its lawsuit
• Avoid the chance of not recovering debts due to bankruptcy  

A settlement may also be the best solution for your unique situation. In many cases, we can reach favorable settlements on behalf of our clients that leave them paying less than the original amount of debt. This is because creditors prefer to recover part of the debt over nothing. 

However, we recommend discussing your situation with an experienced debt defense attorney before settling with TD Bank. While a settlement may be viable for you, there may be better legal options for your unique situation. For example, you may have a strong defense that could get your case dismissed. Our attorneys can help you determine your best options during a confidential consultation. 

What Not to Do if TD Bank Sues You for Debt Collection

Many people choose to ignore collection lawsuits, and unfortunately, that is the worst thing you can do to protect yourself from one. When you ignore a collection lawsuit from TD Bank or another credit card issuer, you essentially allow them to win the case without any objection. 

If you respond to the lawsuit, TD Bank will have to prove its claims with evidence, and it may not have sufficient evidence. Without a response, TD Bank does not have to prove its case and may be able to get a default judgment against you. 

A default judgment would entitle TD Bank to the money even if it had a weak case against you. It could then get the money from you by having your bank accounts frozen and garnished, putting a lien against your property, or seizing your property to pay off the debt. 

Schedule a Confidential Consultation With Our North Texas Debt Resolution Lawyers

Is TD Bank suing you for delinquent credit card debt on a Target card you opened with Target National Bank? Our firm knows that facing a collection lawsuit and dealing with unpaid debt is scary. You do not have to face this difficult situation alone. 

Our North Texas debt collection defense attorneys are dedicated to helping our clients get back on financial track. We are happy to review your case and help you understand your potential legal options for putting this lawsuit behind you. 

Call our office to schedule a consultation to discuss your situation. You can also submit our online contact form, and we will reach out to you soon to schedule one.