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About napsterkct

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  1. Debt Collection Letters – If trips to your mail box fill you with dread because all you ever seem to get are letters from people you owe money to then it’s time to take back control of your money situation. I know. It’s easier said than done! Those debt collection letters can be pretty unnerving. If you are in debt and struggling financially, you probably woud do anything to avoid opening mail from creditors that insist that you pay this bill in full within 30 days… or else. To be perfectly honest with you, effective debt collectors know exactly how to word those collection letters to get people to pay up and fast! Even harder is how to handle a debt collection agency that gets you on the telephone. Either way, you end up feeling anxious and dreading the idea of dealing with your money mistakes from last year and beyond. It doesn’t matter if you pop those debt collection letters in a basket near your car keys or in a desk drawer – unless you have the money to pay the balance in full this month, you will get another one in thirty days. The only way to stop the dread and anxiety of picking up your mail or answering your telephone is to create a financial plan that you can make happen. Before you deal with debt collectors, you need to sit down and go through that basket of household bills and collection letters to create a grand total of all your current bills and outstanding debts. This is probably the most difficult aspect of creating a home budget and ultimately, a personal financial plan but without this crucial step – you will never put a stop to collection letters and debt collectors calling you at all hours of the day. Once you have a complete list of ALL your debts, it’s time to start creating a home budget and a financial plan to get these paid off. Sound impossible? Yes, but it’s all just an illusion. It can be done. Paying off those debts may not happen in the time frame of the debt collectors or credit card companies but they will get paid AND you will be in control of every dollar you earn. That is power and financial freedom. Don’t let bill collectors stop you from enjoying life on your journey to be debt free. Now, get that pile of collection letters and bills and get started. You have everything to gain with that one step. Your next step - decide the order and amount you will pay off each debt. That is beyond the scope of this article but when you are ready for that step - remember, everything you do today to rid yourself of debt brings to one step closer to financial freedom. ---------------
  2. A total of 623,399 U.S. bankruptcies were filed in the first three quarters of 2007, representing a 40.16 percent increase over the 444,789 cases filed in the same period in 2006. There's worse news in the Midwest; specifically in Detroit. Through October 2007, the number of Chapter 7 personal bankruptcies filed in Detroit's federal bankruptcy court jumped 63 percent compared with the first 10 months of last year. Unfortunately, this news is not surprising; after all, foreclosures are at an all-time high throughout the country and credit card debt is skyrocketing. If you find yourself in a situation where you're barely able to keep your head above water, yet have a strong desire to avoid bankruptcy, you may be considering debt settlement. Prior to making a final decision, however, it's important that you review the following information regarding this form of debt relief. What is Debt Settlement? Debt settlement is a process utilized by individuals (or professional firms representing those individuals) in which they negotiate with their creditors to pay their credit card debt in full for less than the balance (typically 50% or less). Who Should Consider Debt Settlement? If your debt is out of control, and you're losing sleep at night you're very likely a good candidate for debt settlement. This is especially true if you find yourself borrowing from one credit card to pay another or you're having a tough time avoiding the dreaded bounced check. Please keep in mind, however, if you should choose debt settlement you must have some type of funding available to pay your creditors when a negotiated settlement is reached. Many people have accessed a home equity line of credit or retirement fund. Others have been fortunate enough to borrow from friends and family, or simply set aside a certain amount of money each month to go toward future negotiated settlements. ----------------------------
  3. As per the fair debt collection practices Act, the collection agency must validate the debt within 30 days of receipt of your DV letter, else you are no longer liable to that particular CA for that debt. Now, if you have send them the earlier debt validation letter by certified mail, and you have the receipt, then there is no need to worry because if they sue you to the court they cannot bring judgment against you. This is because firstly they have not validated the debt within 30 days of receipt of your letter and secondly, they have not provided you with proper validation. However, if you do not have any receipt of the DV letter you have sent, you should send another one by certified mail with return receipt. best wishes
  4. They probably won't agree to delete it after you have already paid it. You could try to ask them for a goodwill deletion. I'd try this first. You could also just dispute it with the credit bureaus and see if it falls off. I'd try this if they ignore/say no to your goodwill deletion letter. on edit: Don't listen to anyone telling you that a "paid collection" notation is a positive account that will increase your score. It is an inherently negative notation on your credit report and will most likely decrease your score. The only thing a paid collection does is prevent them from suing you over the debt...which has nothing to do with your credit score. Also, don't listen to anyone telling you that this collection account has to remain on your credit report for 7.5 years as per the Fair Credit Reporting Act. The FCRA establishes the MAXIMUM amount of time an account may be reported to a credit bureau. It does NOT set a mandatory minimum amount of time an account MUST be reported. This is misguided advice that ignores fundamental principles of statutory interpretation. by jeffrey from web
  5. first you've to do some basic steps for tackle this problem. if it is not ok then make a call to debt buyer ================ :p8]