The credit report topic has been covered well on our web site, but mostly as it applies to people who need some form of debt relief due to a financial hardship. While that is an important topic and a concern for more and more people as a result of our tough economy – what about […]
Debt Bytes Blog
FDCPA Wants to put an End to Dead Debt, Bogus Collection Fees, and Lawsuits
The Consumers Union, a long standing consumer advocate and watch group, in partnership with East Bay Community Law Center, weighed in with their recommendations for amending the Fair Debt Collection Practices Act (FDCPA). Read the report here: Why Debt Collection Practices and the Debt Buying Industry Need Reform Now. In their “PAST DUE” report, I […]
Debt Collection Industry Insider Starts Petition to Reign in Collection Abuse
Collection industry insider, Bill Bartmann, has started an electronic petition he will submit to Congress where he suggests the following amendments to the Fair Debt Collection Practices Act (FDCPA): We hereby petition Congress to amend the current debt-collection rules by adding the following provisions: Increase the penalty for violations of debt-collection rules from the current […]
What kind of debt relief can you afford?
Is your current monthly cash flow either now, or in the near future, not enough to meet your monthly debt obligations while allowing for a set amount of savings taken from income each month? If not, you are currently, or soon could be, in a financial bind. What can you do about it? What is […]
Food Stamps Responsible Corporate Citizenship and Bacon Cheeseburgers
I have long had an addiction to reading economic blogs. I mostly visit blogs and sites that have daily commentary while enjoying my morning coffee. The sites that I visit tend to have a no holds barred approach in their writing and commentary on daily economic trends. One such blog I have enjoyed reading on […]
When to Request Debt Validation From a Debt Collector
The debt validation and verification topic is deserving of much more time than I am going to give it in this post. I am covering this briefly due to the question I received yesterday after publishing part of our charge off series. where one of the bullet items states: “Avoid some of the nut job […]
Why Debt Collectors are Calling after Your Account Charged Off
This post is part of our “Charge Off” series and discusses what typically happens with your unpaid accounts after they are charged off and when the loan or credit card balance is assigned to an outside debt collector. In order to have reached charge off, you will have survived the many collection attempts from your […]
What to Expect in the First Six Months of Not Paying Your Credit Card
This post is part of the Debt Bytes “Charge Off” series and discusses what happens in “pre Charge Off” – when you’re not paying your credit card, and (s) are late between one and 180 days. Credit card debts that go unpaid follow a relatively predictable pattern. When first missing a payment, the phone rings… […]
Credit Card Debts and Charge Off – What it Means to You
The term charge off describes an accounting function followed by your lenders. When speaking of revolving consumer credit card accounts, a charge off occurs when the credit issuer either chooses to, or must, recognize an unpaid loan balance as a loss. Losses are bad news for lenders. The bad news gets reported and can affect […]
Which Credit Card You Should Settle First
Credit card debt settlement is not complicated. But there are several factors to consider when determining the order and priority of different debts to be settled. The main ingredient to your success in debt negotiation is; money. How much you can bring to the table, and over what period of time, in order to fund […]