For a variety of reasons, consumers frequently find themselves contacted by debt collectors.
Maybe there was a family emergency, a spouse lost their job, or a debt collector is calling trying to locate someone else.
Regardless of why a debt collector is calling, it’s important for consumers to understand their rights against debt collectors.
[Read more…] about Harassed by Debt Collectors: Know Your Rights
A recent FTC study reveals that credit reports are a frequent source of headaches for consumers.
The Fair Credit Reporting Act provides consumer rights in regards in credit reports, but the sheer number of credit reporting issues is quite shocking.
Notably, items in collection, which are sometimes reported by debt collectors, appear to be a large source of consumer disputes.
[Read more…] about Credit Report Problems are a Major Issue for Consumers
Consumers frequently call saying they have been served with a fake debt collection lawsuit.
There’s a really good chance it is a real/actual/consequential lawsuit.
In Minnesota, you can initiate a lawsuit without filing it with the court—it’s called pocket service.
Consumers frequently get confused when they call the courthouse and are informed the court has no record of the case. Again, just because it does not have a court file number, that does not mean it is fake.
It’s still a real lawsuit. And failing to respond will have very real consequences.
[Read more…] about Debt Collection Lawsuit: What You Need to Know
The FDCPA regulates what debt collectors can and cannot do in their attempts to collect a debt.
Among other no-no’s, debt collectors cannot call you at work once they know it’s inconvenient, debt collectors cannot reveal your debt to third parties, and cannot mislead you about debts past the statute of limitations.
The FDCPA also prohibits excessive phone calls. And if you receive calls to your cellphone, the Telephone Consumer Protection Act provides additional protection.
[Read more…] about Robocalls, Automated Messages, and The Telephone Consumer Protection Act (TCPA)
The world of debt buyers, debt collectors, and debt collection law firms creates all sorts of confusion for consumers.
The next time you get a collection letter, pay attention to the details.
[Read more…] about Debt Buyers, Debt Collectors, and Debt Collection Law Firms
Student loan debt is a hot topic that will likely only get hotter as the amount of student loan–currently over 1 trillion dollars–continues to rise.
The National Consumer Law Center recently published a report that criticizes the Department of Education and it’s contracted debt collection companies, saying that “the Department has created financial incentives for its contractors that encourage high collections at the expense of borrower rights.”