Home » Entries posted by Mallory Megan (Page 2)

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How Will A Debt Collector Try To Collect My Debt?

Collection agencies primarily use letters and phone calls to achieve collection. Collection letters are typically computer generated, and differ in severity. The first letter usually starts with a simple “reminder” tone and as the letters progress they may build up to a final demand.

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Suing Debt Collectors For A Profession – A Trend On The Rise

It is true that Americans plagued with outstanding debts and delinquent accounts will generally suffer through a slew of punishments for their past errors. Threatening collection letters, frequent phone calls, negative credit marks, and even the possibility of ending up in court are examples of retributions for non-compliance. One only needs to type “debt collector” into Google to discover a whole slew of angry, defensive blogs that are anti-debt collector. After all, personal finance, is well, personal, and it becomes a sensitive issue when someone is asking you why you don’t have money.

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Using Debit May Be Deadlier Than It Looks

Everybody knows that times are tough, and almost everyone who has owned a credit card has run into some type of financial trouble utilizing it. It appears as if the temptation of being capable of buying now and paying later may be too much at times, especially in today’s economic hardship, where more people are unable to simply buy now. There is no doubt that credit cards are capable of hurting your personal finances, but overusing your debit card might be what is putting you over the limit.

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IRS Vows To Make The Richest Americans Pay Their Dues

If you are obscenely rich, hold on to your hat: the Internal Revenue Service is out to get you. That is, if you’ve been hiding money from Uncle Sam. This tax season it was made clear that the IRS was leaner, meaner, and that it was on the lookout for tax evaders. This past fall, the IRS Commissioner Doug Shulman announced what is being called a “Global High Wealth Exam Group.” The main goal of this group is to make sure that the richest people in America are paying what they owe in taxes.

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The Difference Between Third Party And In House Debt Collectors And Why It Pays To Know Who You’re Paying Part Two

In the last article of this series I described two different sorts of collection agents: in house collectors and third party collectors. In house collectors work directly for the creditor, while third party collectors work for a collection agency hired by the creditor to collect on delinquent accounts. I mentioned that third party debt collectors are bound by the rules and guidelines of the FDCPA, while in house collectors are not. The FDCPA stands for Fair Debt Collection Practices Acts and it is full of strict guidelines that third party collection agents must follow.

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How Long Does A Debt Last And What Type Of Rules Regulate Debt Collectors?

All debt collectors must abide by the state laws where they are placing the phone calls that regulate collection efforts, and for a debt collector calling across the country, this all can be very confusing. Oftentimes, collection agents will use software to guide them and help them remember each state’s laws.

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Why It Pays To Know Who You’re Paying: The Difference Between Third Party And In House Debt Collectors Part One

Anyone who has experience in the field of bill collection probably knows about the Fair Debt Collection Practices Act. This legislation was crafted in 1978 and provided a very decent amount of protections for consumers. There are a variety of guidelines that a debt collector must follow, and if any of these rules are violated, you should call up your attorney general’s office and complain. Examples of rules that third party debt collectors must follow include: a debt collector can only call between 8:30 AM – 9 PM, they cannot call a debtor repeatedly, and they must positively identify that they are speaking directly to the debtor before they proceed with their attempt to collect debt.

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Exactly What Can A Collection Agency Do To Me If I Don’t Pay?

There seems to be a lot of confusion about what debt collectors have the authority to do. Admittedly, some debt collectors may intentionally lie or insinuate that they can do more than they legally can to intimidate debtors. Typically the main factor that will motivate debtors to pay is the persistence of correspondence from the debt collectors. If they do not pay, they know that the letters and phone calls will not stop.

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Freebie Trading – Get Rich Scam Or Get Rich Quick?

Freebie trading, a controversial moneymaking ploy utilizes online forums, You Tube videos, personal websites and various other marketing techniques to drive traffic to web sites that advertise a variety products and trial offer in exchange for a fee. Freebie trading differs from other kinds of affiliate marketing because it includes people who make an agreement to purchase products from these sites on one another’s behalf, for a cut of the commission that results in exchange.