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Create Your Own Ultimate Debt Elimination Plan
The method is simple. 1) Set a monthly amount. 2) Pay all minimum amounts. 3) Pay extra money toward the debt with the highest interest rate. This method will ensure that you pay the least amount of interest and repay your debts as soon as...
Debt Consolidation. Just lump it all together!
In a world where people use credit as much as they drink water, it is no surprise that so many people need debt consolidation loans. Debt consolidation loans sound like a good way of getting your debt cleaned up, but are they? If you need help...
Debt Settlement -- Why the Critics Are Wrong
After October 17, 2005, a lot of people are going to become interested in debt settlement as an alternative to bankruptcy. That's the date the new bankruptcy law goes into effect, and it means a rude awakening for many consumers seeking a fresh...
Is Debt Negotiation Bad? Points To Consider
Debt negotiation companies that claim they can wipe your credit
clean or guarantee they can reduce your debt are bad because
they can't deliver. But reputable companies can negotiate with
your creditors, often reducing your debt 10% to 50%. They...
Lower Credit Card Debt
You can lower credit card debt through a variety of options.
Consolidating your debt into one loan can help lower interest
rates and monthly payments. If you need additional help, you can
use a debt management or debt negotiation company. Both...
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Stop Debt Collectors Cold and get Back on Your Financial Feet
As a consumer law attorney who counsels people with debt problems, I’ve heard my share of horror stories about debt
collectors. For example, a college student client was threatened that she’d be arrested if she did not pay a credit card debt, and another client was called 12 times in one day at work about a debt that was 14 years old. If they knew their rights, these people could have avoided the emotional stress they experienced at the hands of aggressive debt collectors.
This article provides you with an overview of those rights so you don’t have to suffer like my clients did. You don’t have to put up with abuse from debt collectors! Despite what they may tell you, debt collectors cannot put
you in jail, make you lose your job, or ruin your credit forever if you don’t pay a debt. The federal Fair Debt
Collection Practices Act (FDCPA) sets very strict limits on what debt collectors can and cannot do. Those limits include when they can call you, what they can say and what they can do to collect a debt.
The FDCPA in a Nutshell
The FDCPA applies to outside debt collection agencies, but not to creditors collecting their own debts. However, your state may have a law that applies to in-house debt collectors. Call your state attorney general’s office to find out.
Among other things, the FDCPA says that debt collectors cannot:
· Lie to you, use racial slurs or insults, or threaten you with violence.
· Call you repeatedly, or call before 8 a.m. or after 9 p.m.
· Call you at work if you've told them you can’t accept their calls on the job.
· Contact your employer about a debt unless the debt collector is trying to collect past due child support
payments from you.
· Tell others about your debt.
· Garnish your wages without taking you to court first.
· Make false statements, such as telling you they will ruin your credit “forever”. They can’t.
You have the right, within 60 days of first being contacted by a collector, to ask for written proof of the debt, and the debt collector must provide it. Be sure to ask for proof if there is any question that you owe a debt or if you need time to figure out how to pay a debt you know you owe. Keep careful notes regarding each conversation you have with a
debt collector, and copies of all correspondence to and from the collector. These records will be helpful if you need to sue a debt collector.
You Can STOP Debt Collectors
You can write to a debt collector to tell him not to contact you anymore. After he receives your letter, the FDCPA requires the collector to cease all contact with you other than to let you know about a specific action he is going to take -- sue you for example. The drawback of ceasing contact however, is you eliminate the option of negotiating a payment arrangement with the collector or settling your debt for less.However, if you believe you really don’t owe a debt or if you truly can’t afford to pay it, telling a debt collector to stop contacting you may make sense.
Time and again I’ve seen collectors try to pressure consumers into paying them immediately by threatening to seize their assets, take money from their bank accounts, or garnish their wages. However, a debt collector cannot do
any of these things without getting the court’s permission first. Furthermore, you will have plenty of notice from the
court about what a debt collector wants to do so you can hire an attorney to stop him.
What To Do If A Collector Violates The Law
If you believe that a debt collector has violated your rights, or you need advice about the best way to deal with a collector, contact a consumer attorney (visit www.naca.net for a referral). You should also register
a complaint about the collector with the Federal Trade Commission at www.ftc.gov. For much more information
about dealing with debt collectors, visit my website at http://www.StopDebtCollectorsCold.com, or contact my Co-author, Gerri Detweiler, at gerri@ultimatecredit.com.
About the Author
John Ventura is a consumer law attorney and board certified in
bankruptcy law. He is also a national authority on consumer and
small business financial and legal issues. He has a consumer law
firm in the Rio Grande Valley of South Texas and is the author of
13 books, including The Bankruptcy Kit and The Credit Repair Kit, and the new ebook, Stop Debt Collectors Cold. He has been featured on CNN, National Public Radio and in numerous newspaper and magazine articles nationwide.
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| Advertisements Promising Debt Relief May Be Offering Bankruptcy |
| Cautions consumers about ads in newspaper, magazine and telephone directories that offer quick fixes for debt problems. |
| www.ftc.gov |
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| Welcome to Debt Relief International |
| Welcome to the web site of Debt Relief International. |
| www.dri.org.uk |
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| Debt relief steps, your free guide to debt help. |
| Articles on debt relief, and credit management and repair. |
| www.debtsteps.com |
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| Factsheet - Debt Relief Under the Heavily Indebted Poor Countries ... |
| The HIPC Initiative is a comprehensive approach to debt reduction for heavily indebted poor countries pursuing IMF- and World Bank-supported adjustment and ... |
| www.imf.org |
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| Special report: debt relief | Special reports | Guardian Unlimited |
| February 6: A year ago the Guardian set out to track the west's promises of action for Africa on aid, trade, health and debt relief. As G8 finance ministers ... |
| www.guardian.co.uk |
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| Debt Relief Options - Findlaw for the Public - |
| Welcome to Debt Relief Options. This section contains information about the ... To begin, select one of the Debt Relief Options topics from the list below ... |
| bankruptcy.findlaw.com |
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| William Brewer |
| The Brewer Law Firm. William E. Brewer, Jr., Attorney at Law Board Certified Consumer Bankruptcy Specialist. 619 N. Person Street Raleigh, NC 27604 ... |
| www.debtrelief.com |
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| Debt Relief - InCharge Debt Solutions |
| There are many ways to get out of debt, for good, and it may be easier than you think. The first step is knowing your options, the second step is taking ... |
| www.incharge.org |
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| Economic Policy and Debt |
| May 2006, IMF And World Bank Support Cameroon’s Completion Point Under The Enhanced HIPC Initiative And The IMF Immediately Grants 100 Percent Debt Relief ... |
| www.worldbank.org |
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| Economic Policy and Debt - The Enhanced HIPC Initiative |
| The Initiative’s debt-burden thresholds were adjusted downward, which enabled a broader group of countries to qualify for larger volumes of debt relief. ... |
| www.worldbank.org |
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| Debt relief - Wikipedia, the free encyclopedia |
| Debt relief is the partial or total forgiveness of debt, or the slowing or stopping of debt growth, owed by individuals, corporations, or nations. ... |
| en.wikipedia.org |
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| Debt Analyzer, Debt Reduction Software, Home Page |
| Debt Elimination at its best! Potential savings of hundreds or thousands of dollars! Build debt reduction, timed elimination or consolidation schedules. |
| www.debtanalyzer.com |
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| Superior Debt Relief |
| We help you get rid of credit card debt much faster than you may believe possible with credit card debt settlement and negotiation tactics, providing debt ... |
| www.superiordebtrelief.com |
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| Debt Relief - Social and Economic Policy - Global Policy Forum |
| Aid Inflows, Debt Relief Yet to Translate into Reduced Poverty (March 20, 2006) ... Fearing that the IMF could tie debt relief to economic benchmarks, ... |
| www.globalpolicy.org |
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| Debt Relief - Global Policy Forum - Social and Economic Policy |
| Debt Relief - Global Policy Forum - Social and Economic Policy. The Debt Relief Page Has Been Moved to: ... |
| www.globalpolicy.org |
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| BBC NEWS | Business | Q&A: African debt relief |
| BBC News looks at the progress of international debt reduction efforts, and the sticking points which continue to hamper the process. |
| news.bbc.co.uk |
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| Debt Relief Australia - Start Reducing Debt Today! |
| Debt Relief offers Australians in debt assistance with finding the most appropriate debt relief solution. |
| www.debtrelief.com.au |
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| Debt Consolidation Australia, Debt Relief & Bankruptcy Information |
| Specialising in debt agreements, mortgage refinancing and bankruptcy. Company profile, calculators, solutions, media releases, testimonials and existing ... |
| www.foxsymes.com.au |
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| Oxfam - Debt and Aid - Debt Relief for Nicaragua: breaking out of ... |
| Oxfam policy paper on relationship between international debt servicing and poverty. Linked to table of contents and also zipped for download. |
| www.oxfam.org.uk |
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| What debt relief means for Africa | csmonitor.com |
| This weekend's $40 billion debt cancellation deal could spark major improvements in the lives of the world's poorest people. |
| www.csmonitor.com |
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