Unfair Practices: No debt collector can use dishonest or unfair means of making you pay your debts to them. The following actions are deemed to be violations of the law by these debt collectors:
1. Collecting any money at all - such as interest, late fees, or any charges other than the principal amount - unless it is specifically permitted by law and/or authorized by the agreement that created the debt.
2. Taking post-dated checks from you that are more than five days away, unless the debt collector informs you no more than 10 or less than three business days before depositing the cheek.
3. Soliciting postdated checks for the purpose of threatening or instituting criminal prosecution.
4. Depositing or threatening to deposit any postdated checks that you have sent them before the date of such check.
5. Making collect calls to consumers, or doing anything that would cause debtors to incur charges for communication by debt collectors that are trying to conceal the purpose of their contact.
Validation of Debts: As a consumer, you have the right to verify, validate or dispute any debt you are told about by the agency, within a given time frame. Within five days of initially contacting you, a debt collection agency must:
1. Send you a written notice containing the amount of the debt, the name of the credit, a statement informing you of your right to dispute it within 30 days, and a statement indicating that if you contest any portion of the debt, the debt collector will obtain verification of the debt and mail it to you.
2. Supply you with the name and address of the original creditor if it is different from the current creditor (if you happen to ask for this info in writing).
3. Cease collection attempts during the "verification of debt" period, if you dispute the debt or ask for the name and address of the original creditor.
Multiple Debts: The law protects your repayment rights when you owe multiple debts to creditors. In this case, debt collectors:
1. May not apply any payments you make to any debt that you dispute.
2. Must follow your instructions about how you want debts repaid (for example, which debt should be paid first on your outstanding balances or how much you want to designate towards each debt).
Benefits Of A Debt Management Plan
A) Are acceptable to all your creditors.B) Leave...
benefits-of-a-debt-management-plan.php
A List Of Rights You Have Against Debt Collectors Part 2
1. Falsely stating or implying that the debt collector i...
a-list-of-rights-you-have-against-debt-collectors-part-2.php
Staying Out Of Debt With The Irs At Tax Time
You may have income not subject to withholding, such as divi...
staying-out-of-debt-with-the-irs-at-tax-time.php
Benefits Of Working With A Credit Counseling Agency Part 1
A) Detail what you owe.B) Give you an organized picture of ...
benefits-of-working-with-a-credit-counseling-agency-part-1.php
All Women Need To Read This Understanding The Equal Credit Opportunity Act
One of the main problems with the ECOA is th...
all-women-need-to-read-this---understanding-the-equal-credit-opportunity-act.php
Talking With A Creditor 5 Steps Of The Negotiation Cycle
Your bargaining power in this technique is your willingness to repay your creditor the money that you owe him. If the...
talking-with-a-creditor---5-steps-of-the-negotiation-cycle.php
4 Ways To Help Boost Your Credit Score
1. Try to Get Positive Accounts Reported: You know that the credit ...
4-ways-to-help-boost-your-credit-score.php
Getting A Bad Credit Loan
Getting a bad credit loan is not an easy task but it is a doable one. Often people d...
getting-a-bad-credit-loan.php
Filing For Bankruptcy Which Plan Is Right For You
Filing a Chapter 7 bankruptcy can mean you have to give up some of your assets (property or cash...
filing-for-bankruptcy---which-plan-is-right-for-you.php
It's Tough To Save Money When You Are Already Broke But You Can Do It
You are probably thinking at this very moment: ...
it's-tough-to-save-money-when-you-are-already-broke-but-you-can-do-it.php
Are You A High Risk Or Low Risk Credit Applicant Understanding Your Fica Score
Credit scoring uses your credit history to evaluate the likelihood of your loan going ...
are-you-a-high-risk-or-low-risk-credit-applicant---understanding-your-fica-score.php
Ways To Get Out Of Debt & Save Money Part 1
Understand that there are monthly expenditures that you may not be able to change immediately, fo...
ways-to-get-out-of-debt-&-save-money-part-1.php
How To Build Credit In Your Own Name After A Divorce
Getting credit in your own name is also an excellent str...
how-to-build-credit-in-your-own-name-after-a-divorce.php
Cleaning Up Your Credit Without Paying
This process, as outlined in the FDCPA, is quite differe...
cleaning-up-your-credit-without-paying.php
Financial Records Create An Effective Filing System
• Banking records (including checking and savings accounts)• Bills paid (where you file regu...
financial-records---create-an-effective-filing-system.php
Resourcesother
...
resourcesother.php
Ways To Get Out Of Debt & Save Money Part 2
Once It's in Savings, Leave It There: A good rule of thumb for us all: Once it goes into yo...
ways-to-get-out-of-debt-&-save-money-part-2.php
The Benefits Of Keeping An Open Checking Account
A savings or money market account, too, will improve your standing with creditors. Even if you never deposit additio...
the-benefits-of-keeping-an-open-checking-account.php
Whats The Best Time To Negotiate With Creditors
If your credit is already shot, at other times, it's often more ad...
whats-the-best-time-to-negotiate-with-creditors.php
Saving Money And Becoming Debt Free Requires Deep Changes
Once you get to the point where you believe that budgeting and saving are better than having on a new outfit or dr...
saving-money-and-becoming-debt-free-requires-deep-changes.php
Benefits Of Working With A Credit Counseling Agency Part 2
A good credit counselor offers solutions with your future goals i...
benefits-of-working-with-a-credit-counseling-agency-part-2.php
What To Do When There Is A Bank Error In Credit Reporting
Credit reporting is an important tool that banks use to ensu...
what-to-do-when-there-is-a-bank-error-in-credit-reporting.php
The Importance Of Keeping Good Financial Records
Personally speaking, I'm pleased to be able to say that I ca...
the-importance-of-keeping-good-financial-records.php
The Shocking Truth Behind Credit Report Inaccuracies
According to a number of consumers groups in the United States, many credit reports are filled with inaccuracies. The ...
the-shocking-truth-behind-credit-report-inaccuracies.php
Innovis The Credit Report You've Probably Never Heard Of
As recently as 2003, Innovis denied that it was actually in the credit-reporting business. There are numerous p...
innovis---the-credit-report-you've-probably-never-heard-of.php
Applying For A Credit Card Check Out These 5 Comparison Shopping Tips
Here's what you should look for in a credit ca...
applying-for-a-credit-card---check-out-these-5-comparison-shopping-tips.php
How Being Frugal Can Help You Gain Financial Independence
Being a cheapskate doesn't mean you can't enjoy l...
how-being-frugal-can-help-you-gain-financial-independence.php
8 Solid Tips When Applying For Credit Cards
1. Be consistent with the name you use. Use your middle initial always or never. Always use your generation (Jr., Sr...
8-solid-tips-when-applying-for-credit-cards.php
5 Questions You Must Ask A Credit Counseling Service Before Deciding
Credit counseling is not a good option if you're curren...
5-questions-you-must-ask-a-credit-counseling-service-before-deciding.php
Relationships And Money Research Your Partners Debts Before Making Big Choices
Understand that even though you may be living off one paycheck, it should be easier to control and track where the mone...
relationships-and-money---research-your-partners-debts-before-making-big-choices.php
Learn How To Have Your Student Loans Canceled
The student loan scheme is quite complex, depending on the type of lo...
learn-how-to-have-your-student-loans-canceled.php
Ways To Get Out Of Debt & Save Money Part 3
If you can, select a certain percentage of your income, for example 20% of you...
ways-to-get-out-of-debt-&-save-money-part-3.php
What Are Rapid Rescoring Services How Can They Help My Credit
1. They can't deal with you directly as a consumer - Rapid rescoring is typic...
what-are-rapid-rescoring-services-how-can-they-help-my-credit.php
Why Do So Many Adults Have A Hard Time Managing Their Money
Remember back in high school when you were learning calculus, art and science? There was...
why-do-so-many-adults-have-a-hard-time-managing-their-money.php
Myth Closing Credit Accounts Will Help Your Score
Of course, if you think about it, what's kept you from racking up big balanc...
myth---closing-credit-accounts-will-help-your-score.php
Are You Unemployed Learn The Smart Way To Utilize Your Credit & Your Cash
Prospective employers often pull a credit report as part of the employment process,...
are-you-unemployed---learn-the-smart-way-to-utilize-your-credit-&-your-cash.php
Disputing With Credit Bureaus Know Your Rights
The FCRA provides a list of rights and procedures that ...
disputing-with-credit-bureaus---know-your-rights.php
How Identity Theft Can Crash In Innocent Persons Credit
Thieves tend to do the most damage when they can take over your identity wholesale....
how-identity-theft-can-crash-in-innocent-persons-credit.php
A List Of Rights You Have Against Debt Collectors Part 1
1. Can't tell third parties, such as your boss or neighbors that they're trying to reach you ab...
a-list-of-rights-you-have-against-debt-collectors-part-1.php
Learn How To Read Your Credit Report
These days, bad marks on your credit report can determine w...
learn-how-to-read-your-credit-report.php
Questionnaire To Determine If Your Future Spouse Is Financially Compatible
1. What is your annual income?2. How much money do you currently hav...
questionnaire-to-determine-if-your-future-spouse-is-financially-compatible.php
