The Better Business Bureau has issued an alert that phony debt collectors are once again on the prowl intimidating debtors into giving out private financial information and wiring money. Here's what you need to look out for: The phony debt collectors usually claim to be lawyers and threaten the debtor with imprisonment if they do [...]
A recent report about an Indonesian man who was allegedly beaten to death after failing to pay back $12,000 in credit card debt is yet another reminder of what state American debtors could be in if it were not for the hard fought laws protecting the indebted. On March 29, Mr. Octa traveled to Citi's [...]
There's a bit of bad advice going around for debtors who have no assets and are in default on their loans. Some are suggesting that "no asset" debtors avoid bankruptcy and simply stop paying their debts. Things "no asset" debtors should consider before they stop paying: If a "no asset" debtor avoids bankruptcy and stops [...]
Despite what some economists say, the "real" economy is still in a deep recession and that means that more debt collectors are engaging in tactics which are outright unfair and downright dirty. A matter of fact, debt collections tactics have gotten so dirty that Fair Debt Collection Practices Act (FDCPA) lawsuits spiked to 441 in [...]
Accusations that a debt collection firm, Unicredit Debt Resolution Center, is using fake a courtroom, judges and sheriffs to coerce debtors into revealing their bank account numbers and signing over the title of their cars to pay delinquent debts has the attorney general's office in Pennsylvania steaming. A sign in the front of a building [...]
Despite the "official" word that the recession is over, we all know that the recession is still raging on. And with that recession comes very aggressive debt collectors willing to do almost anything to get paid. One of the new tactics that debt collectors are using is scouring social networking sites such as Facebook to [...]
Now that the housing bubble has burst many debt vultures are focusing on what's being described as the bankruptcy exchange. Many entities looking to make a quick and "easy" buck are buying up heavily discounted debt during a company's bankruptcy and then using their leverage as a creditor to mold the company's Chapter 11 bankruptcy [...]
It's happening more often in today's economy than before, or at least it seems that way, credit card companies coming after debtors who don't owe them anything. Have you had it these illegal debt collection practices happen to you? Are you receiving phone calls, letters and even lawsuits demanding the payment of debt that you [...]
Many debtors feel helpless under the onslaught of bills, but every debtor has a specific set of rights as established and protected by the Fair Debt Collection Practices Act. It is important that every debtor exercise his/her rights when they are contacted by a bill collector. Here's what you need to know: Law requires that [...]
There seems to be a disturbing trend developing nationwide, many debt collectors are manipulating the court system in an effort to imprison debtors who have defaulted on their loans. Here's what is happening? Very small debts are being bundled and sold to debt collection companies. Small debts, which are often under $100 each, are bundled [...]