Statures of Limitations maybe one of the best defenses debtors has against their hounding creditors and scammer bill collection agency. Once the stature of limitation expires, this means that the creditors are also unable to file lawsuit against the debtor ordering that person to pay the debt. Nonetheless, creditors may still hire cunning bill collection […]
All things exist until a certain point, that when reached will demise. Debts also have this expiration date of some sort, known as the stature of limitations. Stature of Limitations sets the maximum period of time wherein certain legal actions can be initiated. Stature of Limitations refers to the time limit for the collection of […]
Blame it on bad accounting, overspending, or just lack of money management skills but I am certain that nearly everyone has an outstanding debt or incurred one in their lifetime. In the growing need of individuals to have everything they want and need, they borrow money from various credit agencies. With just a swipe there […]
Debt consolidation is available in various forms such that of: home equity loans, zero-percent credit card and debt consolidation loan. The creditor should be well informed of the mechanism of these things. He/She should examine how it works; identify the pros and cons; and see whether it fits the bill that the debtor needs […]
Do not be deceived by the picture of debt consolidation as an easy escape to debt pressure. Debt consolidation is a very risky and complicated manner of handling your credit concerns. Consolidating your debt means combining all of them into one. To do this you have to make one loan to pay off all the […]
Each state of the country has there own state law regulations on how to conduct bill collection. These laws can be divided into two categories: the laws that require collecting agencies to be licensed, registered or bonded in order to collect from consumers in that specific state; and the law that protects the interest of […]
It isn’t surprising to hear reports of harassment performed by bill/debt collectors in the news. Such acts though considered illegal under the Fair Debt Collection Practices Act (FDCPA) is still very much prevalent. In this article, we will discuss the instances when you can say that you are being harassed by debt collectors or collection […]
The Fair Debt Collection Practices Act can only administratively executed by the Federal Trade Commission (FTC). The Federal Trade Commission is an independent agency that is accountable to the Congress of the United States. The agency was established in 1914 under the Federal Trade Commission Act. The main function of FTC is the maintenance […]
The individuals and entities covered by the Fair Debt Collection Practices Act (FDCPA) include the debt collectors, consumers and creditors.
Debt collectors are the collection agencies, factoring company or some other name that pertains to be a third-party collector. Debt collectors is defined in the FDCPA as “any person who uses any instrumentality of interstate […]
Dealing with debt collectors can be considered as the one of the most anxiety-inducing and stressful experience for us. The trash talks, harassments and threats can make just about anyone go insane. The federal government of the United States enacted several legislations that could protect the rights of consumers. One of the most […]