Debts You Don’t Owe Top Collector Complaints

Managing Debt

Debts You Don’t Owe Top Collector Complaints

Debts You Don’t Owe Top Collector Complaints

Americans are tired of being hounded for debts they don’t owe (or at least debts they don’t think they owe), according to a new report from the Consumer Financial Protection Bureau. Some of the other complaints involve debt collectors using abusive language and threatening arrest for unpaid bills. The aggressive communication tactics and threats sound bad enough… Read More

How to Handle a Medical Debt You Don’t Owe

Managing Debt

How to Handle a Medical Debt You Don’t Owe

How to Handle a Medical Debt You Don’t Owe

Recently released data from the National Health Interview Survey (NHIS) found that one in five Americans was in a family having problems paying medical bills. And, one in 10 Americans was in a family with medical bills that they were unable to pay at all.  Not surprisingly, families with an uninsured member increased the odds… Read More

Can a Debt Collector See My Credit Score?

Managing Debt

Can a Debt Collector See My Credit Score?

Can a Debt Collector See My Credit Score?

There’s a perception that only people with serious money problems have to deal with debt collectors. While people struggling to pay their bills may be more likely to have a collection account on their credit reports, debt collectors are going to aggressively pursue a different type of consumer: The kind who will pay up. Collectors… Read More

I Got a Debt Collection Notice. Now What?

Managing Debt

I Got a Debt Collection Notice. Now What?

I Got a Debt Collection Notice. Now What?

It’s OK to freak out a little if you receive a debt collection notice. I read and write about debt every day, and even I went into panic mode when a letter from a collector came in the mail several weeks ago. There’s an immediate sense of vulnerability, perhaps some confusion, and a strong desire… Read More

The Ultimate Guide to Debt Collectors

Managing Debt

The Ultimate Guide to Debt Collectors

The Ultimate Guide to Debt Collectors

Your first reaction when hearing from a bill collector may be panic or avoidance, or perhaps a combination. But those reactions won’t help the situation and could make it a worse. Most collectors are just doing their jobs, and some of them are so good at dealing with consumers that they get love letters from… Read More

Help! I Think Someone’s Using My Social Security Number

Identity Theft

Help! I Think Someone’s Using My Social Security Number

Help! I Think Someone’s Using My Social Security Number

Imagine going to your mailbox and getting a letter from a collection agency regarding a medical bill that you don’t recognize, and that was incurred in a state where you don’t live. Also troubling: The collection agency has your Social Security number, but it’s definitely not your bill. A reader named Sharon faced exactly that situation… Read More

Can I Buy My Own Debt for Pennies on the Dollar?

Managing Debt

Can I Buy My Own Debt for Pennies on the Dollar?

Can I Buy My Own Debt for Pennies on the Dollar?

During the past few years, there has been a growing awareness of how unpaid debts get bought and sold. The fact that debts can be purchased for steep discounts by investors and collection companies — who then work to collect the full balances owed — has lead to some meaningful discussions, and increased scrutiny of… Read More

CFPB Sues Online Loan Servicer for Collecting Invalid Debts

Managing Debt

CFPB Sues Online Loan Servicer for Collecting Invalid Debts

CFPB Sues Online Loan Servicer for Collecting Invalid Debts

The Consumer Financial Protection Bureau announced Monday a lawsuit against CashCall for illegal debt-collection actions, which include debiting consumer checking accounts for invalid loans. Such loans ranged between $850 and $10,000, carried interest rates from roughly 90% to as much as 343% and had terms up to several months long. The CFPB is suing California-based… Read More

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