The question about sending a letter to get a debt collector to stop contacting you is always an interesting one. The decision to send such a letter is so multifaceted and involves emotion, risk, and tolerance. But, maybe most importantly, it consists in having a plan and taking action that will ultimately deal with your …
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Today, the Consumer Financial Protection Bureau (CFPB) issued an advisory opinion affirming that federal law often prohibits debt collectors from charging “pay-to-pay” fees. These charges, commonly described by debt collectors as “convenience fees,” are imposed on consumers who want to make a payment in a particular way, such as online or by phone. “Federal law …
New York recently enacted Senate Bill (SB) 153, the Consumer Credit Fairness Act, significantly impacting debt collection lawsuits filed by creditors or debt collectors. A few of the key amendments include: Most collection lawsuits arising out of a consumer credit transaction will now have a 3-year statute of limitations rather than 6 years. Extensions and …
Question: Dear Steve, Not sure about this, I got this email and have no idea what it’s about can you help me. “PAST DUE AMOUNT – 1080.00 This letter is to notify you that we have received a Summons of Garnishment on your wages. This means that someone you owe money to have been awarded …
Question: Dear Steve, I was evicted back in 2017. I received a notice from the property management firm a few months after the eviction and they were trying to charge me for the remaining balance of the lease as well as damages, which there were none. I even turned in the keys and the apartment …
Household debt balances continued their upward trend in the second quarter, with increases in mortgage, auto, and credit card balances, according to the latest Quarterly Report on Household Debt and Credit from the New York Fed’s Center for Microeconomic Data. Student loans were roughly flat, a typical seasonal pattern in the second quarter. The Quarterly …
Receiving a call from a debt collector can be stressful. Your first instinct may be to hide or ignore the situation and hope it goes away. But that can make things worse. We have resources to help you respond to debt collectors. 1. First, know your rights There are laws that restrict what debt collection …
Imposter scam complaints surpassed identity theft for the first time as the second most common category of consumer complaints received by the Federal Trade Commission’s Consumer Sentinel Network in 2016, according to the agency’s new Data Book. Although debt collection complaints declined slightly between 2015 and 2016, they remained the top consumer complaint category, comprising …
