Financial worries create additional stress that is damaging to your emotional and physical health. Dealing with the overdue notices and monthly bills from creditors is difficult enough without the harassing phone calls that often accompany your debt. You are no doubt aware of your financial distress, which means you don’t need the constant reminders from…
Read MoreThe latest consumer scam is something called “phantom debt collecting.” Usually the scam begins with a phone call where the caller alleges a victim owes money for something. An intimidating voice on the other end informs the victim that he or she owes money and must pay up immediately or face legal action. However, in this…
Read MoreYou’ve undoubtedly heard the old saying that “knowledge is power.” Although it may seem cheesy, perhaps even overused, there is a lot of truth to this phrase. The more informed you are, the better you are able to protect yourself in certain situations. Take debt collection harassment as an example. Millions of Americans receive phone…
Read MoreThe Fair Debt Collection Practices ACT (FDCPA) was established to protect consumers from aggressive, harassing, or threatening collection tactics by debt collection agencies. Most Americans with debt have likely encountered debt collection harassment at one point in time or another. It can be as subtle as an early morning phone call on the weekend, or as…
Read MoreMany collection firms play by the rules and treat consumers fairly, but those that do not can cause financial harm to consumers and undermine the financial marketplace. Banks and other creditors may collect their own debt. They also may sell off debt to third parties. Those third-party debt buyers may collect the debt themselves or…
Read MoreWhen a debt collector contacts you, at some point in the conversation they must advise you that the call is from a debt collector in an attempt to collect a debt. At this point, you should not engage in open conversation. Especially DO NOT admit the debt is yours, regardless if you believe it is…
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