Unfair Bill Collection Practices
The Fair Debt Collection Practices Section 808 prohibits the exercise of bill collection practices deemed as “unfair”. Below are some of the practices that are considered unfair and illegal.
Archive for April, 2008
Debt Cancellation Contracts
Debt cancellation products outranked the traditional credit insurance offered by various banks. Debt cancellation contacts are the new innovation providing satisfactory results and outputs. The attractiveness of debt cancellation products stems from the shrinking margins on interest income that have been due to the call to have new sources of non-interest income that will be […]
Debt Suspension Agreements
Debt suspension agreements are the breakthrough banking services that are substitute to credit insurance. Debt suspension agreements are covered by the Comptroller of the Currency, Administrator of National Banks (OCC). The Debt suspension agreements are the long term or contractual agreement that adjusts loan terms within which the bank agrees to suspend all or part […]
Delinquent Debts and Debt Collection Improvement
Due to the marked increase of delinquent debts owed to the United States government by various individuals or organizations, the Congress passed the Debt Collection Improvement Act of 1996 (DCIA). This law centralized the collection of delinquent debts and provided new responsibilities to the U.S. Department of Treasury regarding the matter. Delinquent debts are the […]
Dealing with Debt Collection Lawsuits
Due to a series of unfortunate events you were not able to pay your bills, so the bill collection lawyer filed a suit against you. The question haunting you now is what to do. The first step is to take the matter seriously; address the issue immediately. Do not ignore it like the collection letter […]
Credit Check Collection Agency
Do you think that being an irresponsible debtor has no consequence? Well think again. There is such a thing credit report that ascertain the credit worthiness of a particular consumer. Such services are provided by a special collection agency called credit check collection agencies. The main purpose of these organizations is to attest whether a […]
Types of Bill Collection Agencies
Bill collection is the collection of payments on debts owed by individuals or business. It is practiced by the creditor or the various collection agencies. We know that bill collection agencies collect debts in behalf of the creditors. In the past articles, we have discussed myriad of things about bill collectors, the collection process […]