7
December
2011
There is no doubt that if you have a collection on your credit report, it’ll hurt your credit score. Moreover, even though the consequences of a collection on your credit score get reduced with time, the entry remains on your credit report for 7 long years. Thus, also makes it difficult for you to
23
October
2011
Phone calls from our near and dear ones are always welcomed by us, but not from debt collection agencies. Ironically speaking, if “being in debt” is a cake, calls from debt collectors serve as icing on it. Well, if you ever receive a call from any agency identifying them as a debt collection age
16
October
2011
The federal and state governments are incorporating FTC Act (Section-5), FTC telemarketing sales rules and Uniform Debt Management Services Act into their legislation. With the implementation of these new laws, it will be improper and unlawful for ordinary professionals to identify themselves as deb
30
September
2011
Well, sound crazy. Isn’t it? We know that in reality debt collectors turn debtors crazy by numerous collection attempts. However, you can do the same with debt collectors. The best thing to start with when a debt collector is attempting to collect from you is to remain calm. Even if the debt colle
6
September
2011
What is frozen account- Frozen account defines a state when you are no longer able to access to your bank account because your creditor has brought court judgment against you for not paying his debt. This is a hard tactic that creditors employ to put pressure on you to squeeze money out of you. How
5
August
2011
Things got completely twisted for the debt collection industry with the decision in Foti v. NCO Financial Systems, Inc in the year 2006. The Court in Foti concluded that each voicemail intended for a debtor must include the mini-miranda, which is a disclosure that the communication is from a debt co
7
July
2011
The Fair Debt Collection Practices Act, FDCPA, ensures guidelines for debt collectors while collecting a debt. The sole purpose of the FDCPA is to abolish the use of abusive, deceptive and unfair debt collection practices. According to the FDCPA guidelines, there are certain things that the debt c
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