Dealing with debt collection agencies is never pleasant and you may find that some are especially persistent —and rude. While debt collectors are required to follow certain laws and regulations, many are guilty of bending or breaking the rules.
It’s important to remember that debt collectors are trained to do everything possible to collect the debt, including sometimes using scare tactics to get you to comply with their requests.
However, don’t let a collection agency intimidate you, and be prepared for possible lies and tactics they may use.
Here are 5 lies debt collectors may tell you.
If you are diligent about monitoring your credit report regularly and take steps to maintain a healthy credit score, you may be wondering how long negative information such as delinquent accounts, judgments, and other adverse information stays on your report.
By law, certain types of information must be removed from your credit files within a certain period of time.
Here is an overview of how long different types of negative information and activities can stay on your credit report: [continue reading…]
If you’re feeling overwhelmed with bills lately and your car loan payments are putting a dent in your budget, take some time to review your loan agreement. Whether you’re dealing with overdue payments or just want to be more organized with your finances, you do have some options that you might have overlooked. [continue reading…]
A new study from BankRate.com has found that 63% of Millennials in the U.S. – those between the ages of 18 and 29 – don’t have a single credit card.
I’ll admit: I was initially surprised by this new data. At first blush, I wouldn’t have guessed that young adults would be opting out of credit cards in such high numbers.
But upon deeper inspection, there are a number of things that explain what’s going on, as I explained during a recent appearance on this topic on CNBC.