The reason that the Fair Debt Collection Practices Act was created is that debt collection agencies were not following honest, straightforward and principled approach to debt collection. Even now they are known to be unreliable and unethical in their collection practices. Collection agencies are often guilty of going after the wrong people or misstating the Full Article…
Viewing 1 to 10 of 58 items
What is debt collection and how to deal with debt collection accounts.
How to Deal with and Handle Debt Collection Agencies
The truth is that when it comes to dealing with unpaid bills and unpaid debts many people do not know how to tackle it. Many people use the opportunity to settle their debts and his of their credit issues because they do not know how to go about it. Being reactive rather than proactive results Full Article…
Will You Get Sued for Debt Collection Account? How to Try and Settle a Collection Account For Deletion From Credit Report
It wast believed that you will not be sued if you have more than $2000 in debt collections. In fact you have more likely to be sued the higher the balance of credit is. This is because once a statute of limitation is over there is more money to be lost by the creditor. For Full Article…
Can You Be Sued in a Court of Law after the Statute of Limitation Has Expired?
While technically you can be sued for a debt even though the statute of limitation has expired, the collection agency will not be able to win the lawsuit in case you can provide proof that the statute of limitation has expired on your debt. This means that once the statute of limitation is over the Full Article…
Should You Settle a Debt Collection Account Or Pay in Full
Once the collection account has been reported on your credit file it may not necessarily cause much improvement in your credit score if you pay the account in full rather than settle it. If it is not possible for you to get the account removed completely from your credit report it might not make a Full Article…
Can A Collections Account Be Deleted from The Credit Report?
It is possible to delete a collection account from the credit report. The trick lies in being able to negotiate with a collection agency to send notification to the credit bureau that’s the account being reported was in error. This depends a great deal on the collection agencies and the practices that they implement. The Full Article…
Is It Possible to Make a Payment Arrangement on Debt Collection?
A debt collection agency typically goes on to a debt to a period of six months before it is transferred or sold to another collection agency. In case the debt is too large or you cannot afford to pay the amount it may be possible for you to reach some sort of a payment agreement Full Article…
Overview of the Fair Debt Collection Practices Act (FDCPA)
The debt collection agencies are not exactly known for practicing honest and fair means of collecting debt from cost consumers. The reason why they rely on underhanded tactics is that many times they actually do get away with it. It could be because of consumers were not aware of their rights or the laws dictating Full Article…
Limitations of Statute of Limitations For Debt Collection Accounts
The statute of limitation on the debt only prevents the debt collection agency from winning a judgment against you in a court of law if you can prove that the statute of limitation has expired. However the statute of limitations has its limitations. It does not stop the collector from making further collection of us Full Article…
What Is Your Statute of Limitation on a Debt?
The statute of limitation is usually between 3 to 6 years but can be as high as 15 years in some states. Check with the office of your state Atty Gen in order to find out what the statute of limitation on your debt is in your state. Some kinds of debt do not have Full Article…