By some estimates, more than a third of the adult population in the US is going to come in contact with a debt collector at some point. If you have never had to deal with debt collector before, your only exposure to the industry could be from the media, and perhaps by way of this […]
debt collection
Recognize and Review a Debt Collector
Complaints about debt collectors number in the ginormous every year. The volume is somewhat understandable. I mean… how many other professions do you spend nearly all of your time trying to get someone to do something they cannot or will not do? Let’s face it, getting people to pay bills they likely can no longer […]
How will contacting a collection agency restart credit reporting or time limits to sue?
Dear Michael: “My daughter has medical bills from 2008 when an emergency situation arose and she was not covered under insurance. She recently checked her credit report and contacted the collection sites to see if they were really hers. If you contact the collection agency, does this restart the ‘7.5’ years on your credit report? […]
Should I settle my Discover credit card or request debt validation?
This post was inspired by my comment exchange with a site reader about negotiating a settlement with a Discover credit card that is now in the hands of a collections law firm. My comment would have been too lengthy a reply on the page the discussion originated, and this is also something that is not […]
How To Reduce Debt Buyer Collection Lawsuits
Last week the CFPB and the FTC held a workshop to address what happens to unpaid debts at different stages of the debt collection cycle. Part of which discussed the frequency and challenges faced by consumers when debt buyers file lawsuits in order to collect. The workshop brought together state and federal regulators, economists, major […]
Getting Debt Settlement Letters and Agreements
We just discussed how to negotiate debts successfully on our own, but that doesn’t close the deal…yet. Negotiating debt and paying the new agreement requires a settlement letter. In the wacky world of debt collection, debt buying, and credit reporting, paying off a debt you settle without having a documented agreement, is a mistake. And […]
The Best Way to Pay Collectors After Negotiating a Debt Settlement
Negotiating and settling debts that are past due at all stages of debt collection is thoroughly discussed throughout this site. With all of this detailed information and discussion, don’t forget to plan and prepare for one of the basic elements of settling your credit card debt. All successful debt negotiations have two things in common…a […]
Tips For Handling Debt Collection Calls
In the main debt settlement article series,I have stressed the importance of being in communication with your original creditors, and sometimes their contingency debt collectors, during first stage collections. You should know at this point that debt collection phone calls, and dealing with debt collectors and bank recovery personnel, is part of your debt negotiation […]
Midland Funding LLC or Midland Credit Management Trying to Collect From You
I recently spoke with a woman who had just been sued by Midland Funding LLC for a debt they bought from Citi bank. The amount she is being sued for is a few thousand dollars. She is being sued by a debt collection attorney in her state after collection attempts were first made by Midland […]
Arrow Financial Services – Debt Buyer Closed Shop – Debts Purchased – LVNV Collecting
Arrow Financial Services was once a major player in buying up bad debts like charged off credit card bills. One of the more aggressive ways Arrow sought to collect on old unpaid credit card debts was to use the courts. Debt buyers like AFS send some of the debts they buy up on the cheap […]