If you’re concerned about your credit score, you probably want to know if you have any debts in collections. Having debt in collection can badly harm your credit score. And the damage can multiply if unaddressed. Creditors often report debts to [ . . . ]
Many people experience a feeling of relief when they see on their credit reports that an old debt has been marked as “Charged Off.” Some think that these debts have been forgiven because a creditor has charged off the debt. [ . . . ]
Good debt collection defenses flow from the specific circumstances of the debt. Bad debt collection defenses merely delay the lawsuit without changing its outcome. And the worst debt collection defenses are irrelevant, waste the court’s time, and possibly add costs and fees to [ . . . ]
According to the Consumer Financial Protection Bureau, Washington, D.C. leads the nation in complaints about debt settlement companies. In the CFPB’s latest monthly complaint report, the District of Columbia registered 893 complaints per 100k population. By contrast, Maryland had 521 [ . . . ]
Delinquent debt has given rise to an entire debt buying industry. When a debt becomes seriously delinquent, the bank holding the debt will write it off then sell it to a debt buyer, like Midland Funding, for a tiny fraction of [ . . . ]
If you are being pressured to pay a debt, you know that collection agents can be relentless. A collection agency may be constantly bombarding you with demands for payment. Letters, phone calls, and . . . Facebook? That’s right. Social media makes [ . . . ]
As of March 1, 2016, the Consumer Financial Protection Bureau (CFPB) handled approximately 834,400 complaints, including approximately 22,800 complaints. The Washington, DC area has three of the top seven jurisdictions for CFPB complaints per capita. By a wide margin, Washington, [ . . . ]
In November 2013, the CFPB issued an Advance Notice of Proposed Rulemaking in which it solicited comments on an array of issues relating to the debt collection practices of third-party debt collectors, debt buyers, and creditors. In a recent article, [ . . . ]
You may not want to file personal bankruptcy on a debt. You may owe just a single debt, or just a few. In some cases, it makes more sense to consider debt settlement over bankruptcy. Consider hiring an experienced debt settlement [ . . . ]
When you are sued for an unpaid debt, usually it is not the original creditor who is filing the action against you. Instead, the creditor has likely sold the debt to a collector for pennies on the dollar. Debt collectors [ . . . ]
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