It isn’t a big shock to find out that the credit craze and panic is exploding around the world. The credit craze and panic works like this: Stage One: Craze – apply and get approved for credit and go crazy racking up the balance. Stage Two: Panic – after you’ve expended your credit resources you …
CNNMoney.com released a fascinating showcase of the life behind closed doors of debt collectors. They took ten different collectors ranging in 2 – 20 years of service in the field of debt collecting and asked their insight and thoughts on the debt collection industry and process of today. The interviews were very nicely balanced between …
I feel the personal need to thank a one, Vanessa Romo, a reporter at NPR for her most recent and compelling article “Elusive Debtors Foiled By Their Social Media Sites“. This article delved into a world I had never considered existed. No not Pandora, but a realm of debt collectors using social media and networking …
CNN Money’s recent article, “Debt collectors get nasty” showed some real insight into the current debt collection process in this country. They touched on information reported by the Federal Trade Commission, FTC, about the number of complaints of debt collector harassment issues on the rise. Apparently these debt collectors haven’t heard of a little thing …
The Municipal Employees Legal Services of New York’s District Council 37 has seen an increasingly startling number of cases cross their desk over the past few years involving cases pertaining to debt buying lawsuits against consumers. Given that these sort of cases have doubled over the past 10 years, they took a special interest into …
When you are in debt, sometimes you may feel that you are a “sitting duck” waiting for the debt collector to call. What you may not realize, however, is that there are laws which protect debtors from collection practices that you may find troublesome or harassing. The federal Fair Debt Collections Practices Act (hereafter referred …
Robyn “Dear Steve, I have a private student loan with Sallie Mae. I got this loan to go to a computer training school in Massachusetts. I now live in California. They are threatening to default if I do not pay $842 by August 8th. I am not refusing to pay them, I am just not …
“Dear Steve, I am on social security and cannot pay certain debts. I owe some money in utah and am being harassed by a collection agency. they say they will get a judgment against me and then have me arrested. i’m pretty sure this is a lie. (the arrest part) right? Jeanne” Dear Jeanne, I …
“Dear Steve, Asset Acceptance LLC called me recently and said they were collecting on an old Bank of America debt. They told me it was from a period of time when I lived in California (1993-1994). I told them I did not believe I owed this debt and to please send me a statement or …
“Dear Steve, I have many messages left on my answering machine from debt collectors. Some of which I believe are violations of the FDCPA. Creditors Interchange has left messages about expediting judgment against us-no mini-miranda ever. Fred Hanna Associates mention they are debt collectors. And they do say that if this is not so and …