Fed-up consumers are fighting back against overly aggressive debt collectors, slapping collection agencies and creditors with a record 7,923 lawsuits from January 1 through August 15, 2011, according to a report in Collections & Credit Risk. By comparison, in the same period from a year ago, consumers filed only 7,169 such lawsuits. That means lawsuits […]
Record Number of Lawsuits Against Debt Collectors Read More »
Your bill collector may have sent you a letter contacting you about your outstanding debt or called you to introduce themselves. If you choose to accept a phone call and engage a debt collector in conversation, you may have more negotiating power if you record your call. You do have the right to record your
Should You Record a Call with a Bill Collector? Read More »
Dealing with a collection agency can be stressful. You need to flex some negotiating skills in order to work with debt collectors and if you’re on a monthly payment plan, ensure that every single payment gets to them on time. Remember that a single missed payment could change the financing agreement and you could end up
How to Re-negotiate the Amount You Are Paying to a Collection Agency Read More »
If you had asked me before today if you could get get locked up for having outstanding credit card bills, I would have said: Absolutely not. After all, debtors’ prisons in the United States were abolished in the middle of the19th century. Unfortunately, however, a frightening and little-known occurrence is taking place in cities all
Deep in Debt? You Could Get Locked Up! Read More »
Question: I am a 23-year-old college student with a bad debt of about $12,000 with American Express. I believe the Statute of Limitations in Maryland is 3 years. I do not remember the last time I made a payment to them. I found a receipt showing a payment in December 2006. But when I called
The Statute of Limitations in a Nutshell Read More »
