Debt collectors have a vested interest in the money they get you to pay on your debts. Collecting this money is how debt collectors make their own money so it should not be surprising to find that they will sometimes use tactics that are considered ‘dirty’ tricks to get you to pay up. Even when [...]
You’re enjoying a pleasant dinner with your family, and the phone starts to ring. Before you even pick up the receiver, your heart starts pounding and your blood pressure begins to spike. Why? You know the caller is about to ask you to pay a debt that isn’t yours. Perhaps you have the same name [...]
In today’s turbulent economic times, debt collectors are becoming more aggressive than ever before. Anyone who has fallen behind on credit card debt, medical bills or a home mortgage knows that unsettling feeling of hearing the phone ring at dinner or seeing a 1-800 number appear on the caller ID. Consumers Have Rights Unfortunately, many [...]
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 [...]
Do you have an outstanding debt that is several years old? If you do, you may have noticed debt collectors are ramping up the efforts to collect that debt. This is due to the Statute of Limitations on debt collection. The SOL defines the period of time in which debt collectors can take you to [...]
Many consumers have managed to survive the recession and weak economy in the last few years, however most have done so with a struggle. Individuals who previously had no experience with debt collectors and their antics may have been surprised by the tactics used to collect delinquent payments. While many consumers are back on their [...]
Well, here’s another phone call from the debt collection folks and this time they’re threatening legal action. This legal action – they say – will result in your wages being garnished or collected from your assets. In reality, a debt collection cannot threaten to take you to court. In fact, the collector is actually violating [...]
How often have you made a purchase or overdrawn your bank account and, when the payment came do, you couldn’t pay the amount owed? Circumstances change fast, and it’s not surprising that one day we have money and the next day we don’t. When a debt collector finally reaches you, he/she may say you owe $1200 [...]
Any debt collection agent will tell you that when you’ve beaten the spending compulsion, you’ve got things under control. Beating the Spending Bug The idea that you have to spend money to have fun is probably the most destructive single mindset in anyone’s budget management. Think about it for a minute: Do you really have [...]
Debt collection and it’s collectors are regulated by the U.S. Fair Debt and Collection Practices Act (“FDCPA”). These regulations disallow a collector from “harassing, threatening, and lying” to the person from whom they are attempting to collect a debt. As too many people have discovered, this is not always or usually the case. What Collectors Cannot [...]
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