Posted on 09 September 2011
Tags: action, alternative, amount, attorney, attorneys, bad credit history, Bankruptcy, boundary, burden, care, client, collection agency, collector:, Consumer, credit, credit attorney, credit history, Credit Repair, creditor, creditors, Debt, debt collection practices, debtor, debtor can file bankruptcy, debtors, debts, Duty, Fair, fair debt collection, fair debt collection practices, fraud, identity, insults, interest, job, lawsuit, Money, payment, payment arrangement, practice, principle, problem, process, proof, racial slurs, Reduction, relief, report, serious illness, support, time, time collectors, Treacherous, unexpected events, victim
Credit repair attorneys are those people that basically provide support to debtors. Those debtors that are in serious problems about their non-payments and cannot find any solution. These attorneys offer their services for such debtors. They are well-aware of the consumer laws and within that boundary they try to repair the credit of the debtor/client. FDCPA (Fair Debt Collection Practices Act) provide some rights to the debtor. For instance, collector cannot call a debtor before 8:00 am or after 9:00 pm for payments. Language used from the collector side should be polite. There should not be insults or threats or any racial slurs.
Why debtor doesn’t pay:
Generally, any person with bad credit history is obviously the victim of some annoying or unexpected events that could be serious illness, a job loss, an accident etc. that put them behind the payments. Debtors never argue about the money they owe, but due to the reason that they do not have enough funds they could not make it to pay their debts on time. Collectors should allow the debtors to negotiate about the reduction in the amount owed or a new payment arrangement or any other way out.
Duty of Credit repair Attorneys:
The Duty of credit Attorneys starts when the debt is not an acceptable one. Suppose, if in a scenario where debt is not a legitimate one and a complaint is placed from the debtor side. It’s the duty of the creditor to tell collector to stop calling. If it doesn’t work out this way and any action is taken (such as lawsuit) then debtor will ask credit repairers to take care of the matter.
Actual duty of Credit repair attorneys is to negotiate with the creditors for reduction in the amount of debt. They can address about the reduction of interest or the principle in the interest. Furthermore, written proof is provided to the client so that it could be reviewed and any possible errors could be erased. These actions might be looking minor but in many cases they’ve resulted in the reduction of 60% less then the original amount.
How Credit Attorneys Help:
Credit attorneys manage their client debt by combining all the debts so that there is only one payment to be made. Debtors pay these attorneys, who then pay the creditors. Simply, debtor does not pay the creditor himself.
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Posted on 16 July 2011
Tags: american lifestyle, Bankruptcy, Business_Finance, collector:, credit card, credit card debt, Credit Card Debts, Credit Cards, credit rating, Debt, Debt Consolidation, Debt management plan, debt payment, debt problem, debt settlement, debtor, debtors, financial crisis, financial debts, financial position, global trends, good solutions, headache, litigation process, plastic money, united states
If you are stressed with your credit cards debts, you must feel relaxed to know that there really are some really good solutions of this problem which one can rely on during its financial crisis. If you want a positive change in your credit card debt problem than you have to look for the solutions that tell you how you can reduce your debt and regain the control of your financial position. Keeping in view your income and your expenses you have to analyze your monthly debt payment in a way that debt must reduce each month.
Credit Card Debt in our Daily Life
In today’s world especially in American Lifestyle, credit card becomes a necessity rather than a luxury. Global trends are changing quickly and usage of plastic money is increasing by the speed of rocket. Credit Cards nowadays become as much important in our life as TV or a Car or other daily usage things.
As a result of the shopping extravaganza, the bills will come heavy which becomes a headache when it reached to payment time which is not possible for everyone to pay on time. The problem of huge financial debts becomes even bigger when they remain unpaid and added to the current financial debts.
Litigation Process
Credit collector companies went into litigation to make sure that all the credit card debts must paid by the debtors. Read the full story
Posted on 07 July 2011
Tags: amp, bill payments, borrowers, Business_Finance, CAD, collector:, credit, credit card, credit card bills, credit card debt, Credit Card Debts, Credit Score, creditor, creditors, Debt management plan, debt settlement, debt settlement program, debtor, debtors, discus, Human Interest, lawsuits, lump sum, Personal Finance, plastic money, real time, shopping, united states, using credit cards
In this age, life without credit card has become unimaginable. Credit card has become the inevitable part of the life of every American. Credit card or plastic money is very convenient; it offers hard cash- less shopping, and you can make unlimited purchases with your credit cards. All these features have made the credit card the best option. This is the reason why credit has become an important pat of everyone’s life.
Drawbacks of Credit Cards
People have become addicted of using credit cards for everything and this practice has destroyed their purchasing. People receive huge bills of making huge purchases via their credit cards. Many people cannot afford to pay off their bill payments in real time and many others resort to make more purchases using their credit cards. Finally, people find themselves buried under the great burden of debts.
Lawsuit Against Default Borrowers
Many creditors tend to establish lawsuits against default borrowers in order to receive their credit card money from the debtors. If you are one in those borrowers who are unable to pay off credit card debts then you should try to control spending more than you actually afford. But getting control over spending is the step which you should take before falling into the well of debts. Following are some useful tips for you to cut down your credit card debts without facing a lawsuit.
Debt Settlement
You can take from a debt settlement program. It is actually a process in which both the creditor and the debtor engage in a discussion on how they can settle the owed amount without hurting the credit score the debtor. Read the full story
Posted on 10 June 2009
Tags: Attorney General, collector:, debt collection, debt collection agencies, debt validation letter, Federal Trade Commission, how to deal with collection, sample letter, sample letter for debt validation
Within the first five days that the agency contacted you (whether by phone or mail), they must send you a debt validation notice, which is a letter letting you know you have the right to dispute the validity of the debt within 30 days. If you don’t dispute the debt within 30 days, the collector can assume it is valid. In order to dispute the debt, submit a written validation request. As soon as you do that, they cannot continue to try and collect the debt from you until the dispute is resolved.
Send the debt validation letter via certified mail with return receipt requested (so that you have proof that you sent it, and that it was received). See the sample letter below.
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Posted on 06 March 2009
Tags: agencies, Case Study, collection, collector:, day, Debt, debt collection, debt collection agents, debt collection methods, debt collector:, debtors, employment drag, good, handle, how to deal with collection, how to deal with debt, place employment drag, use
Collections agencies use fear in order to get debtors to pay their bills. One of the ways they intimidate people is by through the use of harassment.
Real World Example:
“Debt Collector: “Whatever way you want to handle this thing, you handle it, but as of today, I’m going to handle it my way.”
Consumer: “I’m going to make sure my rights are not violated.”
Debt Collector: “No, no, you going to get violated, sir.”
Debt collector: “What I’m going to do? I know where you’re at. I’m going to have my investigators come to your place of employment and drag you out, OK? Good day, big guy.”
Actual Legal Position:
Collections agencies are prohibited from harassing debtors. It is unlawful for bill collectors to bully their clients, or to use threatening or disparaging language in order collect an unsettled debt.
