The Federal Trade Commission has received so many complaints regarding the collection practices of debt collectors who are working to collect unpaid balances from the deceased has necessitated that new guidelines be established to prevent the continuation of deceptive collection practices. When a person passes away and leaves outstanding debt, it is often the deceased’s [...]
ReadyForZero.com is a web based financial program available to anyone who wants to get out of debt, free of charge. It’s not a debt settlement or debt management program that requires people to send payments to a third party, all the while not making payments to your creditors and therefore harming your credit score even [...]
Medical debt is often triggered unexpectedly and can cause a serious debt in anyone’s budget. Because medical debt often goes hand in hand with being out of work temporarily, the debts often mount faster than a consumer can pay it off. Suddenly the debt is large and so overwhelming consumers have no idea what to [...]
Debt has several rules including how long creditors and collectors can pursue their debts. This expiration of debt is known as the statute of limitations and it can be a confusing concept for many consumers struggling with debt. Understanding the Statute of Limitations on Debt The statue of limitations on debt essentially put a deadline [...]
There are a lot of resources available for debt assistance but there are also a lot of misconceptions about how that assistance is available. Government assistance is available for many things but despite reports to the contrary, there are no loans available from the government for consumers to pay off debt. Where the Misconceptions Originate [...]
The term “debt mediation” refers to the process of negotiating with creditors to pay less than the total amount owed to settle the debts. It is a debt reduction or debt elimination strategy for individuals who are in over their heads financially and who do not expect to have the means to pay their debts [...]
With so many families struggling with more debt than they can afford to pay, financial counseling businesses and nonprofit organizations have seen a surge in consumer requests for help. Novadebt is a New Jersey based nonprofit organization founded in 1991, and provides credit and financial counseling services to consumers in need. What is Novadebt? Novadebt [...]
A Debt Individual Voluntary Arrangement, or Debt IVA, is an alternative to bankruptcy for consumers who are experiencing problems with debt. Debt IVAs are used across the United States as well in other countries. It is a method that allows debtors to who can not make full payments towards their financial obligations to make arrangements [...]
Just like personal debt issues, businesses can also be plagued by significant debts and be hounded by debt collectors looking for payment. Business debt can be more complicated than personal debt because it can affect more than just one or two people. Owing money to vendors that you just can’t pay can put people within [...]
Credit card debt can be a vicious cycle that can be difficult to conquer if you keep doing things the same way. Effectively eliminating credit card debt may require alternative methods for making good on your debts. Some consumer will resort to debt elimination programs that are costly and complex. Others will work with a [...]
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