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Want an FHA Loan? Resolve Bad Debts First.
The Federal Housing Administration (FHA) recently announced a policy change in how they will treat mortgage loan applications for those whose credit histories contain unpaid collection accounts. The...
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How to Avoid a Debt Spiral
When you have debts you can’t afford to pay, your options for dealing with them are limited. Unfortunately, once you fall behind with payments, your choices narrow even further. Timing is a critical...
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What Happens to Your Unpaid Debt
In the first part of the Debt 101 series I talked about taking advantage of lower credit card payment opportunities that many lenders offer to their customers who fall behind with payments. Depending...
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How Getting Out of Debt Can Hurt Your Credit
A common concern you may have when searching for the best debt relief solution is how it will impact your credit score. There are many misconceptions about credit reports and the harm that comes from...
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New York: Great Pizza, Bagels…& Debt Collection Laws?
Personal financial challenges can be daunting. Struggling to pay bills is tasking enough, but when you throw in having to deal with aggressive debt collector calls, letters, even legal actions, it can...
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Are Debt Collectors Stalking You Online?
Debt collectors spend a lot of time chasing down accounts, many of which will never result in a payment being made. A smart collector will spend time trying to collect on accounts that are most likely...
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6 Important Things You Need to Know About Debt Collectors
If you are getting calls and letters from debt collectors and want to resolve the debt, you need a plan. Your first priority should be developing a strategy that makes sense for you financially. You...
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Is Debt Collection About to Become Fairer?
Billions of dollars of debts go unpaid every year. This fact is not surprising. But what may surprise you is that the majority of bills that go several months late will never get paid, and there is a...
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How to Figure Out Who Your Debt Collector Is
If you have ever been unable to keep up payments on your debt, you know that creditors make calls and send collection notices, and often for many months. Those constant reminders of your late payment...
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Why It Pays to Know Your Debt Collector
If you have ever fallen behind on your bills, you know what it means to be hounded by debt collectors. The constant barrage of late notices and collector phone calls can blend together into one big...
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10 Common Credit Questions for Debt Collectors
Many of us recovering from a financial setback in which bills went unpaid for an extended period of time wind up with accounts in collections. There are different approaches you can take to solve debt...
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A New Debt Collection Law: What It Means for You
Companies that purchase charged off consumer debts owed by California residents will have some new and stricter guidelines to follow starting on Jan. 1, 2014. The changes are outlined in California’s...
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4 Ways Debt Collectors Get You to Pay
Nobody likes a debt collector. But debt collectors, and the companies they work for, serve a legitimate purpose in our economy. Have debt collectors used harassing, and illegal tactics? Absolutely,...
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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 —...
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3 Things You Need When Negotiating With a Debt Collector
So you’re looking to negotiate a settlement or a payment plan with a debt collector? There are a few critical things you need to do to prepare for that. The most obvious thing you need before you make...
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Can You Get a Debt Collection Account Off Your Credit Report?
Suffering through a tough financial patch — with the stresses of not being able to pay bills on time, juggling priorities like rent and utilities over other bills — is frustrating. But for many of us,...
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How Do I Get a Debt Collector to Negotiate With Me?
I work with people daily in order to help them better understand their options, and overcome the hurdles that can pop up when resolving collection debts. A woman recently submitted a common concern...
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I’m Worried About Calling a Debt Collector. What Should I Do?
Dealing with debt collectors can be a scary prospect. If you have ever dealt with an overly aggressive and abrupt collector, your preference for avoiding a repeat call can be understandable. Perhaps...
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Can I Bypass a Debt Collector?
When I am assisting people to resolve unpaid bills I’m often asked, “Why do I have to pay the debt collector? Why can’t I just pay my creditor or lender and avoid the collector all together?” A reader...
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Beth’s Story: Should I Consider Bankruptcy?
For more than a decade I have used a fairly specific approach to help people find their way when struggling to keep up with their bills. I generally focus on six mainstream options to deal with debt,...
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