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Collections Agencies

In our “do it yourself debt reduction” series, I wanted to end with a worst-case scenario. If your debt problems have become so horrendous that you are being hounded by collection agencies, it is time to get serious. First, ask yourself some hard questions. How did I get into this mess? Can I change some things in my life to get back on track? Do I have some addictions or weaknesses that would prevent me from tackling my debt problems myself? If you are truly desperate, it is time to wise up and ask for help. If you think you … Continue reading →

Don’t Tolerate Bullying By Bill Collectors

Are you feeling like you receive more phone calls from bill collectors than you’re your friends and family combined? Getting those calls can make you feel awful – chances are that you are well aware of the debt but you are simply not able to pay it at the present time. You may avoid picking up the phone because you do not feel like there is anything that you can do about the debt, so why bother. Unfortunately, bill collectors are allowed to call you in an attempt to collect money from you. Fortunately, there are rules that they must … Continue reading →

Of Debts and Dying

Imagine how you would feel if your spouse, parent, or other close relative passed away. Now, imagine that shortly after their death you begin receiving phone calls from debt collectors multiple times a day, asking you to pay their debts. You may think that this could not possibly happen, that collection agencies are not allowed to do that. Unfortunately, creditors and the debt collection agencies that represent them can and do pursue collection of the debts of the deceased from their survivors. This practice is very upsetting for a number of reasons. First, the survivors do not have a legal … Continue reading →

Big Bad Bill Collectors Beware

If you dread looking at your called ID every time the phone rings, chances are that you are in debt and you do not want to talk to the bill collectors that are calling (and calling, and calling). Although bill collectors are allowed to call you in an attempt to collect money from you, there are rules that they must follow. Many bill collectors do follow the rules, but some are unscrupulous and use bad business practices to kick you when you’re down. Here’s the scoop on what bill collectors can and cannot do. The Fair Debt Collection Practices Act … Continue reading →

Debt Reduction Summary

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Over the past week, I have discussed many ways to approach a do it yourself debt reduction and credit repair plan. A lot of your approach will depend on your situation, so I covered a variety of different angles. Consolidation loans are one of the options to consider when you have many creditors. These are particularly useful if your credit score is still good or if you have a lot of equity in your home. That way, not only can you often create one loan payment, you can often also reduce the interest you are paying. The key warning with … Continue reading →

The Credit Reporting System

Ever wonder how the credit report system works? Well, it is a big enterprise for sure, run by voluntary transactions that affect you both negatively and positively. There are three major credit agencies. The information they gather is reported to them voluntarily by businesses. Any business that holds consumer accounts can report information on you both positive and negative. The agencies simply gather the information and place it on individual credit reports. This information is then used to create your actual credit score. Since there are three major agencies, each one of them collects different information, which is why you … Continue reading →

Top Ten Resources for Charitable Giving, Part II

Here are seven more excellent resources, continued from Part I. 4. Operation Christmas Child This organization offers you a way to send a gift as well as the message of Jesus to children in need overseas. You simply fill a shoebox with goodies, gifts, supplies, your message, and your gift will be sent. 5. Groups for our Troops Speaking of overseas, please see “Don’t Forget the Troops during the Holidays” for links to three well-regarded groups that help provide care packages to our troops. Please note that packages do take a while to reach distant destinations, so you’ll need to … Continue reading →