Dealing With Your Debt






• Dealing With Debt Collectors - Debt Validation
Dealing With Debt Collectors - Debt Validation. The first most important rule of dealing with debt collectors you must remember: never admit and accept a debt unless it was proven to you that it IS your debt. You have the right to request documentation from the collector substantiating his collection efforts. You must send your validation request no later that 30 day since the collecting agency's first contact. What debt collectors should provide: () Proof that the collection company owns the debt/or has been assigned the debt. At a minimum, some account statements from the original creditor. () Proof that this debt is yours - a copy of the original signed loan agreement or credit card application (or at least account statements from the original creditor). () Explanation of the amount and all fees and payments starting from the original creditor (this is not in the FCRA or FDCPA - but was established in one of court cases in 2004 ( for more info visit www.101creditrepair.com ) Procedure 1. Send a letter requesting validation to the collection agency (via certified mail) 2. Dispute the collection with the credit bureaus (certified letter). You must never skip this step. 3. Wait 30 days to hear back from the collection agency. Most likely they either not respond - or not provide everything as needed. 4. If they haven't sent you satisfactory proof, send them a 2nd letter with the copy of the first one and delivery receipt. Tell them that they have not complied with the <b>...</b>
Views: 4513
40 ratings
Time: 03:58 More in Howto & Style
• Biggest Mistakes You Should Avoid While Dealing With Debt Collectors
Biggest Mistakes You Should Avoid While Dealing With Debt Collectors (1) Not using your right to check that the debt is yours. Somebody contacts you about a debt, and says that you owe him. Why would you trust him? How do you know that he did not mix up names? You can validate the debt in writing within 30 days of being notified. The collector has to hold off on contacting you until it sends you a written clarification of the debt in question. Do not be coerced into paying a debt you don't owe, because if you do - it is an admission of guilt, and it will have a very negative impact on your credit score. For more information visit www.101creditrepair.com (2) Sending money to a debt collector when you have no paperwork what you owe, how they arrived at that figure. While sending a request for validation to a collector - you should ask them to provide the details. (3) Giving a debt collector your banking or credit card information. If you tell a collector to take $50 per month out of your account - don't be surprised when he takes all the money from your account. And you will have very hard time to revert this, because the collector is going to say you gave your permission. (4) Signing an agreement or legal document without understanding your rights and obligations. Don't do it, even if you are threatened. If you do not have money to consult an attorney, ask your friend. Do not act while you are in fear. You always have at least one day to think things through. (5) Not <b>...</b>
Views: 2516
29 ratings
Time: 06:15 More in Howto & Style
• 20 Year Olds Dealing With Debt
Many young professionals in their twenties are dealing with debt from credit cards and unpaid student loans. Managing personal finances can be difficult when you must handle expenses like insurance, business clothes, transportation, car payments, and more while still trying to have savings to meet your long-term goals such as buying a house or planning for retirement. For more personal finance tips, please visit www.usnews.com
Views: 2801
11 ratings
Time: 02:40 More in News & Politics
• Dealing With Debt Collectors - Your Rights
Dealing With Debt Collectors - Your Rights Here are a few rules that debt collectors must follow, according to the Fair Debt Collection Practices Act (FCRA): () Within the first five (5) days after calling you for the first time collection agencies are required by law to provide information about them adn the account. Usually you receive the letter on their letterhead which provides their information and account information. () Within 30 days after first call you have the right to request a verification of the debt. You have to do it in writing. Once you requested verification - the debt collectors should stop calling you until they provide verification as required by law. For more details visit www.101creditrepair.com () Collectors are only allowed to contact a consumer at home between the hours of 8 am and 9 pm () Collector cannot contact you at work, but they can legally contact your current employer to verify that you work for the company. They can NOT ask for your work phone number, supervisor's name, dates of employment or other information. () If, after a prescribed amount of time, a collector is unable to contact you, they can employ other tactics including Internet searches, Lexis-Nexis searches and credit bureau file look-ups. They then can contact friends, relatives and neighbors in the attempt to get in touch with you. But they can not talk with third parties, including neighbors, children, and employers, for purposes other than acquiring location information <b>...</b>
Views: 756
23 ratings
Time: 04:43 More in Howto & Style
• Unique legal and effective help for dealing with your credit card debt
There are many promises out there and lots of offers for help from other companies who say they can make your overwhelming credit card and consumer debt burden go away. This one is different and it works because we've screened and tested them all. Just take a peek at our site and see if this rings a bell for you. Here is a link to an expert, no-pressure, advocate that can talk to you honestly about your options. www.consumersdebthelp.com 808.212.9624 Give us a try because your situation can only get better. Take charge of your life right now. You deserve it.
Views: 13
0 ratings
Time: 04:26 More in Nonprofits & Activism
• Dealing With Debt: Credit Counseling
Credit counseling can help you deal with your debt.
Views: 359
5 ratings
Time: 01:52 More in News & Politics
• Stretching your ringgit: #9 Coping with debt
This 'public service anouncement' was aired on national TV in Malaysia over a four-month period in 2009 as part of 'Stretching your ringgit', an initiative of ci's Kuala Lumpur Office. Through a series of short videos, the project aimed to equip consumers with practical skills and knowledge in personal financial management.
Views: 17
0 ratings
Time: 01:31 More in Nonprofits & Activism
• Lets Talk January - Dealing with the Debt
Join us on Monday, January 18th for Let's Talk in Greenville and Spartanburg when we discuss dealing with the debt. Come make your voices heard.
Views: 63
0 ratings
Time: 01:05 More in News & Politics
• Credit Tip: How to Deal with Debt Collectors
When dealing with a collection agency, the most important this is to stay quiet. Say as little as possible. Ask for information about the debt in writing -- they are required by law to comply. This gives you time to research your options. Did you also know that debt collectors are not allowed to call you at work if you've told then your employer doesn't allow such calls? Union Plus Legal Service can help if you need legal assistance with debt collectors. Visit unionplus.org or call 1-888-993-8866 to find an attorney. Debt collectors generate more complaints to the FTC than any other industry. Arm yourself with the information to help put debt collection calls behind you.
Views: 1360
1 ratings
Time: 01:42 More in Education
• Dealing with Debt Collectors
If you are behind in paying your bills, you can expect to hear from a debt collector. A debt collector is someone, other than the creditor, who regularly collects debts owed to someone else. Lawyers who collect debts on a regular basis are considered debt collectors, too
From: FTCvideos
Views: 2911
7 ratings
Time: 02:14 More in Education
• Dealing With Debt: Bankruptcy
Declaring bankruptcy can help you deal with your debt.
Views: 322
5 ratings
Time: 02:01 More in News & Politics
• Debt Solutions Dealing with Reduced Income
www.incharge.org - With a proven solution that will help you repay debts faster and avoid bankruptcy, our certified credit councilors work directly with creditors to combine payments, reduce interest rates, and eliminate late and over-limit fees. We can even help put a stop to collection calls. If you're struggling with credit card debt, incharge Debt Solutions is here to help you. incharge Debt Solutions is a nonprofit credit counseling agency that can help you find solutions to your debt problems. Our certified counselors will help you find a solution, putting you back in charge of your life. Call us today for a free consultation at 1-866-509-6781. Our certified counselors will help you find a solution, putting you back in charge of your life. Our certified counselors will help you find a solution, putting you back in charge of your life.
Views: 74
0 ratings
Time: 01:01 More in News & Politics
• Dealing with Credit Card Debt
A step by step video talking about the reality of credit card debt, and how the credit card companys are really charging you 83.3% interest.
Views: 18363
47 ratings
Time: 09:59 More in People & Blogs
• Sue Your Debt Collectors - Attorney Michael Mack
Dealing with debt collectors is as much fun as having a root canal... But now you can have a nationally known lawyer give you instant relief!
Views: 225
0 ratings
Time: 01:41 More in People & Blogs
• Dealing with Holiday Debt - Jeff Schwartz - CTV News Channel
Start dealing with your holiday debt and make a plan to get financially healthy in the New Year. Jeff Schwartz, Executive Director at Consolidated Credit (www.consolidatedcredit.ca) is interviewed by CTV News about getting and staying out of debt.
Views: 27
0 ratings
Time: 07:26 More in Education
• Dealing With Debt: Debt Settlement
Maybe you've seen the ads: go to a debt settlement company, cut your debts in half. Is it for real?
Views: 607
4 ratings
Time: 01:43 More in News & Politics

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