We show you how to protect yourself from the aggressive tactics imposed by debt collectors. You have a legal right to be free of abusive, unfair debt collection practices. Learn what your rights are and how to approach debt collectors.
Approximately 70 million people living in the U.S. have an account in collections. If you’re one of these 70 million lucky people, you may know that having debt in collections doesn’t only affect your bank account or monthly budget. For …
Wage garnishment – those two little words strike fear into the heart of people across the country. Unpaid debt, if left for too long, will eventually result in legal action. The judge in the case will likely order your wages …
Consumers enjoy a wide range of protections under the Fair Credit Reporting Act (FCRA) and the Fair Debt Collection Practices Act (FDCPA). However, debt collection agencies continually push the boundary between what is legal and illegal. One practice that straddles …
Having a debt in collections can be a huge burden on your finances. Plus, it doesn’t help if collection agents are calling your phone throughout the day, sending letters, and more. It can all feel incredibly overwhelming. Fortunately, you have …
If you’ve ever been on the phone with a debt collector you know how stressful it can feel. Debt collectors can call, send letters, and generally make your life miserable. While you do have rights under the law – such …
There are two types of re-aging when it comes to debt accounts — one is legal and the other is not. With respect to the illegal variety of re-aging accounts, one of the most sinister tactics used by collection agencies is the …
Collections of any sort are not good for your credit, but a medical collection can be particularly harmful. The possibility of repairing your credit and removing a medical collection is not as straightforward as removing a credit card collection. Once it’s …
If you have fallen behind on your payments and you owe money, chances are a debt collector or collection agency is calling you day and night. Debt collectors make a living attempting to recover money owed and they will apply the thumbscrews …
Are you behind on your credit card payments and your balances are more than you can pay off? If so, chances are you have not made a payment on your credit cards in over 3 months and now your creditors …
The Fair Debt Collection Practices Act (FDCPA) is a federal law that limits the behavior and actions of third-party debt collectors who are attempting to collect debts on behalf of another person or entity. However, it does not apply to …
Do collection agencies violate the law? You bet they do. So, who regulates the debt collection industry? The Consumer Financial Protection Bureau took over the regulation of debt collectors and handling of debt collection complaints from the Federal Trade Commission (FTC) …
State Licensing Requirements for Collection Agencies A collection agency is a business that pursues individuals or businesses for payments on debts owed. For example, let’s say you stopped paying on your credit card and it has been over 120 days …
Whether you are just embarking on the credit repair process, or your credit is in tip-top shape, the last thing you want or need is some old and moldy debt rearing its ugly head. Believe it or not, debt that may have fallen …
Note: This page addresses debts that are with a COLLECTION AGENCY. Here is the article addressing debts still with ORIGINAL CREDITORS. One very important, but often overlooked, area of debt negotiations is negotiating your credit rating. What exactly does that mean you …
If MRS Associates is trying to collect a debt from you, here’s what you need to know. They are indeed a legitimate collection agency. However, as with any other debt collector, they are required to follow debt collection laws. Dealing with …
A junk debt buyer is a collection agency that purchases delinquent or charged-off debt from credit card companies or even other collection agencies. Also referred to in the industry as bad debt buyers, zombie debt collectors, or simply debt buyers, …
If you owe back taxes to the IRS, a change in federal tax collection should be of interest to you. Starting April 2017, the Internal Revenue Service is turning some overdue accounts over to private collection agencies. Find out how this …
We do get this question from time to time, and it was the subject of a recent discussion forum thread: “What happens to debts when I leave the country?” The first issue that should be addressed is whether or not …
If you are behind on paying your bills, chances are a debt collector may be calling you soon. Though debt collectors would prefer you to think otherwise, having a debt in collections is not the end of the world. Certainly, your credit …
If you have been saving for your child’s education, the last thing you want is for a debt collector to take it all away. But can they? Are college savings accounts safe from creditors? What if you are sued by a creditor …
If you are in default on one or more debts, the prospect of wage garnishment is terrifying. You’re not paying your debts because you cannot afford to pay your debts; wage garnishment gives you no choice. (You’ll also end up in …
Regardless of any unpaid debt you may owe, there are limits to what creditors and debt collectors are legally allowed to do in collection of the debt. However, these rules are routinely violated by agencies that should (and likely do) know …
The Fair Debt Collection Practices Act (FDCPA) was enacted in 1977 to curb the abusive practices of debt collectors. The law has been used in court many times and has had many interpretations over time. The CFPB has been charged …
When you owe a debt, the creditor naturally has the right to collect on it. What they cannot do is use whatever measures they like to get you to pay them. On the contrary, they must operate within a lengthy set of rules that are laid out in the Fair Debt Collection Practices Act (FDCPA). Get to know your rights with this summary of FDCPA violations. This information will not only help you spot debt collector violations, but will also inform how you deal with debts during the credit repair process.
It’s probably the last thing you want to do during the credit repair process, but when you have no choice but to deal with a collection agency, knowing how to do it right is imperative. These four comprehensive reads will walk you through it every step of the way.
Q. I requested debt validation from a collection agency because of a collections listed on my credit report and they say they sent me a letter but I did not receive it. I read that collection agencies are supposed to …
Q. I am attempting to settle with a collection agency. After many calls from an agent, I was offered a settlement amount of 3,800.00 on a total due of 10,376.55. I have been sent an email stating that the client …
Q. I received a letter for a debt dated 2/4/13 about 2 weeks ago which places my ability to respond past 30 days. I do not owe the money but the collection agency is contracted by American Family insurance. When …
Q. My husband recently passed away. I was wondering if I am responsible for his credit card debt? I am not a co-signor on any of the credit cards. They were solely his. Can the collectors come after me? I …
Q. I received a letter from a collection agency saying there is a collection that I owe. The letter also says if I do not respond within thirty days questioning the validity of the debt, they will assume the debt …
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