debt collector Tag

The FDCPA has been instrumental in the protection of consumers from predatory debt collection practices.  However, it is over 40 years old and many believe it is time for an update.  There has been a minor change or two in the last 4 decades, but nothing that addresses the newer business practices of debt collectors.  Now, creditors and collectors have the internet which gives them access to...

It is always important to read the “fine” print when agreeing to anything.  This is especially true when signing up for a payday loan.  Interest rates are often 300% – 1000%.  Sometimes referred to as “predatory loans”, payday loans are designed to give the customer money quickly and allow them to pay the loan and interest back over time.  Read on to learn about two truly terrible...

A common misconception about filing for bankruptcy is that you can eliminate your debt while keeping your assets. This is simply not the way bankruptcy works. The benefit of bankruptcy is to eliminate burdensome debt and give the debtor a fresh financial start. This may require that you return some of your assets to the lender, so that you no longer have to make a monthly payment. However,...

Most collection lawsuits involve a creditor suing a consumer for a past due debt. There are certain procedures that the creditor is required to follow, and when the creditor fails to play by the rules you can and should take action against them. Possible results from a lawsuit against a debt collector include monetary damages for the amount you are out of pocket for having to bring the action...