Archive for August, 2009
North Carolina Debt Collection Laws
North Carolina recently enacted new legislation, Senate Bill 974 that changes debt collection practices statewide. Lawsuits and Arbitration on Time-Barred Debt The new bill would prevent a collection agency in North Carolina from bringing suit, initiating arbitration or attempting to collect a debt when the debt collector knows or should know that the debt is [...]
Read Full Post | Make a Comment ( 4 so far )What Can a Debt Collector Do?
Can a debt collector contact me any time or any place? No. A debt collector may not contact you at inconvenient times or places, such as before 8 in the morning or after 9 at night, unless you agree to it. How can I stop a debt collector from contacting me? Tell the collector — [...]
Read Full Post | Make a Comment ( None so far )Calls from Collectors Could Be Illegal
Phone calls from debt collectors are not only annoying but they could be illegal in some cases especially if they are on the weekends, holidays and at other inconvenient times. The federal Fair Debt Collection Practices Act (FDCPA) does not specifically stipulate how many times a collector can call but the Federal Trade Commission (FTC) [...]
Read Full Post | Make a Comment ( 2 so far )Debt Collector Scams
Debt collectors often use questionable tactics in order to collect money owed by debtors. Recently though, two debt collection companies are running a scam to collect money from people who do not even owe a debt. In Missouri, Attorney General Chris Koster has filed lawsuits against Portfolio Recovery Associates of Virginia and Professional Debt Management [...]
Read Full Post | Make a Comment ( None so far )What to do when your Spouse is in Debt
Many people do not realize that when they spouse has credit card debt and debt collectors are calling, it could put your assets in danger too. If your spouse defaults on his/her credit card payments, the debt doesn’t necessarily become yours unless you’re a joint cardholder. But, you may still have to pay up once [...]
Read Full Post | Make a Comment ( 1 so far )Number of FDCPA Lawsuits is on the Rise
The number of lawsuits filed against debt collectors for violating the Fair Debt Collection Practices Act (FDCPA) is on the rise, rising 30% from May to June of this year. In June, there were 848 lawsuits filed. This increase is one that has been seen throughout the last few years. Since 2007, the number of [...]
Read Full Post | Make a Comment ( None so far )Beware of Phony Debt Collectors
This week the Better Business Bureau (BBB) released an emergency alert warning consumers of a scam involving phony debt collectors. These phony debt collectors have obtained confidential information about their victims and are using it to collect money. According to reports received by the BBB, the debt collectors accuse their victims of defaulting on a [...]
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