Debt Collection

America’s student loan debt may be approaching a critical point with respect to repayment. According to Student Loan Hero, the total student loan debt has reached $1.48 trillion spread across 44.2 million Americans, and the latest release from the U.S. Department of Education in September of 2017 shows that default rates are climbing. According to
0 Comments
Do you ever feel like you are drowning in debt? Have you ever considered simply not paying your debts? What’s the worst that can happen if you refused to pay them back? Unless you owe that debt to the “unregulated” end of the high-risk loan market, nobody named Vito is going to show up and
0 Comments
Has your rental application just been rejected? Determined to make lemonade out of lemons, you resolve to find out why you were rejected and change the situation so that your next application is approved. Assuming that you filled out the application correctly and made no obvious mistakes such as bringing your pet rattlesnake or a
0 Comments
Normally you are on time with your payments, but somehow you managed to miss one this month. What are the consequences of a missed payment, and how do you minimize their effects? Missing a single credit card payment may not seem like a big deal, but, as Matt Schulz, Senior Industry Analyst at CredtiCards.com observes,
0 Comments
Debt collectors have been known to go to great lengths to collect unpaid debts. On occasion, a debt collector will go too far and face legal action. Consider the recent case of Joseph Onwuteaka, a lawyer and debt buyer from Houston, Texas, who faces $25 million in civil penalties and another $560,000 in legal fees
0 Comments
You may receive calls from debt collectors trying to recover past-due debts whether you have debts or not. The calls may be from legitimate debt collectors or they may be from debt scammers attempting to extract payment for debts that don’t exist. How can you distinguish between the two? You shouldn’t simply assume that if
0 Comments
A recent action by a Court of Federal Claims has effectively stopped the collection of defaulted student loans – but for those affected, this is cause for concern, not celebration. To understand why, it’s important to look at the fate of defaulted loans and how those attempting to recover from the situation are being harmed
0 Comments
Changes are coming to your credit report – and this time, those changes may work in your favor. Thanks to some background work by the three major credit bureaus (Experian, Equifax, and TransUnion), public records to be included in credit reports must meet higher standards. That action should result in a boost in credit scores
0 Comments
D-E-B-T has become a new four-letter word for many Americans who are struggling to pay off massive amounts of consumer debt in the form of credit cards, car loans and other types of consumer credit. The amount of aggregate consumer debt in the U.S. now tops $11 trillion (yes, trillion with a “t”), according to
0 Comments
Getting out of debt can be challenging, especially if you have little experience in managing your finances and need support. Using a counseling agency can be a great way to get debt relief. The agency can possibly negotiate reduced interest rates for you to pay back all your unsecured debt. You then make a single
0 Comments
One of the consequences of the foreclosure crisis is that mortgage companies were told they needed to be more proactive in contacting and helping delinquent borrowers. However, this comes into conflict with another mandate from the administration: reducing the number of calls that consumers receive on their cellphones. With the two mandates in conflict, the
0 Comments