Don't Pay if You Can't
According to the National Council on Aging (NCOA) Survey of Consumer Finances, the percentage of households headed by an adult aged 65 or older with any debt was 60% in 2016, and the median total debt … [Read more...]
The bank is not your friend. But nevertheless, many financial experts advise you to be honest with the bank to which you owe credit card debt about your financial situation. They advise trying to work … [Read more...]
Senior Citizen Credit Card Debt Relief Unaffordable credit card debt, debt collector threats, collection attorney letters, debt lawsuits, court judgments, bankruptcies; too many older consumers on a … [Read more...]
If you have credit card debt you cannot afford to pay, you are probably in fear of the day a court summons will arrive for that unpaid debt. You have probably spoken to bank customer service reps … [Read more...]
Chase Bank has finally been taken to the woodshed for its past credit card debt affidavit robo-signing misdeeds. It has been fined $216 million and ordered to halt collection on 528,000 consumer … [Read more...]
The Consumer Financial Protection Bureau (CFPB) recently filed a lawsuit against the ringleaders of a robo-call phantom debt collection operation, their companies, and their service … [Read more...]
Here is a recent debt collector interaction I had that may be of use or interest to you. “Mr. Thompson, [Jack Smith] calling from ABC. Return call here. I’ve been asked to obtain a statement from … [Read more...]
Florida Bankruptcy Attorney - What Should I Do If A Credit Card Company is Suing Me for Not Paying? If you stop paying your credit card debt and file for bankruptcy, you are then entitled to … [Read more...]
Numerous major print and broadcast media have reported over the last few months that one in three U.S. consumers are being contacted by debt collectors. (This is the Reuters filing picked up by many … [Read more...]
Here is an Alabama attorney explaining the reality of [credit card] debt buyer lawsuits. In this New York Times feature article, here is an in-depth look at just how sleazy credit card debt junk debt … [Read more...]
Here is an experienced attorney explaining why some threats made by debt collectors are considered illegal under the FDCPA. Typically people cannot eliminate credit card debt they cannot afford to … [Read more...]
(Watch for similar developments in your state.) The Associated Press reported that New York's chief judge proposed new filing requirements for debt collectors to bring more fairness to state … [Read more...]
Above is an attorney who specializes in credit repair and reporting disputes explaining the pitfalls of credit repair organizations. Consumer Alert Regarding Credit Repair Organizations! According … [Read more...]
Above is one attorney explaining the pitfalls of credit card debt settlement. The first reason debt settlement does not work is if you cannot afford to pay your credit debt then how can you afford to … [Read more...]
These are some too-good-to-be-true credit card debt scams that you need to be aware of. These could cost you precious dollars when you can least afford it and cause you problems without … [Read more...]
This attorney shares the Truth about Credit Card Debt Consolidation The term debt consolidation is used by companies offering debt management, counseling, debt consolidation, negotiation, or … [Read more...]
Above is a reasonably credible explanation of debt management. Credit card debt management and credit card debt counseling services can be used interchangeably by some debt service organizations. … [Read more...]
They provide the same kind of common sense advice Dave Ramsey does in the above video. There are two kinds of debt service firms. Those that counsel you on how to manage your money, pay your … [Read more...]
This report from 60 Minutes, "Is your credit report accurate?" illustrates that. There are three credit reporting agencies (CRAs) commonly used by potential creditors to check your credit; Equifax, … [Read more...]
If You Understand Football, Then You Can Understand a Civil Court Case. It is important to point out that in all likelihood your credit card debt matters will not get this far, if you deny, … [Read more...]
Here is a video of a debt broker, who sells packages of debt to JDBs, explaining how the bid process for one debt package ended up at 2.5% per dollar of debt. Buying junk debt has become a big … [Read more...]
These outrageous calls from debt collectors done by ABC News are all lies no one should have believed. Each year debt collectors put more than $40 billion back into the U.S. economy, according to … [Read more...]
There are two sides to this growth industry; debt services and debt collection. With consumer debt growing from $133.7 billion in 1970 to $2.5 trillion at the end of 2007, and with credit card debt at … [Read more...]
Bank of America fined for illegally adding on services to existing credit card accounts. There are a small number of large national banks who dominate the credit card industry. Corporate … [Read more...]
This debt collector and commentator have good advice on the less scary reality of debt collection. (BTW-- In the U.S. no one can be jailed for debt.) The first time you get a call from a debt … [Read more...]
This 60 Minutes report -"Is your credit report accurate?" explains some of the problems with the three major credit reporting agencies. When consumers with credit card debt unpaid for over six … [Read more...]
This law firm successfully sued a junk debt buyer and their collection attorney on behave of an Alabama consumer. 2013’s news about Chase Bank being sued by the California Attorney General for … [Read more...]
Consumers with credit card debt they cannot afford to pay need to actively resist debt collectors, rather than passively wait with their heads in the sand for a credit card summons to arrive. They … [Read more...]
In the above video an Arizona attorney discusses Credit Card Debt In Chapter 13 Bankruptcy. In it he covers the reality of paying old credit card debt as part of the payment plan that Chapter 13 … [Read more...]
The problem with credit counseling for credit card debt relief is the process does do not address the elephant in the room. The discussion is always about budgeting and payments. But, what if the … [Read more...]
Here is an interview in Michigan with a local attorney familiar with several debt relief scams. Beyond the blatant debt relief scams, most of the debt relief industry is trying to get you to … [Read more...]
In late January 2012 CBSnews.com reported JPMorgan Chase & Co. has stopped filing lawsuits around the country to collect credit card debt. The American Banker reported on Jan. 10, 2012 Chase … [Read more...]
If you have credit card debt you cannot afford to pay, you need to educate yourself. Then you will realize your hopeless feelings were an emotional response to your fear of the unknown consequences … [Read more...]
Here is a video with Senator Elizabeth Warren explaining The tricks and traps of minimum monthly payments and other credit card bank rip-offs. If you are considering permanent non-payment of credit … [Read more...]
The Financial News Network reports here that JP Morgan Chase dropped pursuit of many delinquent credit card accounts because of all its problems with phony documentation. JP Morgan Chase was in the … [Read more...]
The Consumer Finance Protection Bureau has made noises about developing stronger consumer protection regulations or laws to protect consumers against debt collection attorneys continued abusive … [Read more...]
In this video Senator Elizabeth Warren discussed the unfairness of credit card bank practices. Financial problems bring on emotions. There is no doubt about it. Feelings of fear, pressure, guilt, … [Read more...]
Learning how to deal with debt collectors Learning how to deal with debt collectors is important if you cannot afford to pay your minimum monthly credit card payment. In my personal and advisory … [Read more...]
If you have decided to stop paying credit cards because you cannot afford to pay them, for you own peace of mind you need to prepare yourself by learning more about; How to cheaply hire a consumer … [Read more...]
Due to the publication of abuses like this, consumers are not blindly trusting debt settlement attorneys or other so-called credible entities that offer credit card debt settlement services. This was … [Read more...]
If you have credit card debt you cannot afford to pay and you wish to eliminate it without bankruptcy, consider these actions. Stop paying monthly credit cards bills you cannot afford to pay and … [Read more...]
Is this your situation: you have unpaid credit card debt you cannot afford to pay; you have received, or are worried about receiving a credit card debt summons; and you think you cannot afford to pay … [Read more...]
Going back a few years ago junk debt buyers (JDBs) discovered they could successfully churn out large numbers of lawsuits based on their bulk purchases of credit card debt. They discovered that less … [Read more...]
In the above video the Los Angeles Time reports the California attorney general has sued J.P. Morgan Chase for furnishing phony credit card documents in credit card debt lawsuits it filed in … [Read more...]
Frequently people in need of medical services, who do not have health insurance, or who have insufficient health insurance coverage, are forced to use their credit cards to pay for health care. So … [Read more...]
Just because you owe, does not mean you should fail to fight a credit card lawsuit against you for credit card debt. You should not allow a default judgment against you for not responding. Felix … [Read more...]
Junk debt buyers Video The New York Times’ Joe Nocera’s column Why People Hate the Banks still has many pundits wondering why anyone who is confronted with a credit card lawsuit does not answer … [Read more...]
When a debt collector attorney confronts you with a photocopy of your signed credit card application, a copy of a generic, unsigned credit card agreement and a few of your past credit card statements … [Read more...]
To find out how badly in debt you are, use the debt reduction calculator below. It stores no personal information, but answers the question; how long it will take you to pay off your credit card … [Read more...]
(Bank of America has also been guilty of credit card debt collection abuses like its infamous rigged arbitration which came with its purchase of MBNA.) Bank of America to pay $772-million for illegal … [Read more...]
Consumer debt is a big problem and knowing how to deal with debt collectors when you owe and cannot afford to pay is becoming a basic survival skill in today’s economy. According to blogger Matt … [Read more...]
If you are late with your credit card debt payments and therefore worried about your credit score, you should first check your credit scores with the three major credit reporting agencies. You will be … [Read more...]
Here is a local TV channel report on banks guilty of credit card robosigning. Last year there was a surge of reporting on recent Consumer Financial Protection Bureau (CFPB) warnings and rules … [Read more...]
Do you have a secret fear about being sued for credit card debt? Read on... A 2013 Reuters article featured on the Pittsburgh Tribune website reported a multi-state investigation by a group of … [Read more...]
