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A Debt Collector Came After Me for $8.97
We recently received a question from a reader who is looking for help with a past due movie rental that went to collections: Today I received a letter in the mail from a collection agency stating that...
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Debt Collectors Killing Your Credit? Here’s What To Do
“I want to clean up my credit. How do I take care of collection accounts?” It’s a question we hear often, often from readers like Kim, who wrote on the Credit.com blog: I have to admit that I have a...
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Why Medical Debt Reform Could Actually Happen Now
There’s at least one thing Congressional Republicans and Democrats agree on, and it’s that medical debt is a problem. Members of Congress and their staff recognize that medical bills are confusing and...
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How to Avoid a Debt Collection Snowball
If a creditor gets a judgment against you for a debt collection item, you may wind up paying more than you bargained for. Our reader, Catherine, recently shared her experience with this: On Feb 09,...
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Help! I Lost My Debt Collection Notice
Dealing with a debt that’s gone to collections can be confusing enough, but what happens if you lose the notice? Credit.com recently received the following question from one of our readers who had...
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JPMorgan Admits Debt Collection Mistakes
One of the nation’s largest financial institutions seems poised to be hit with massive regulatory charges from state and federal agencies over allegations that it improperly pursued what it said were...
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Can I Stop a Medical Bill from Going to Collections?
Unexpected medical bills can often lead to crippling debt. And if you’re not able to pay the debt, it can lead to even more complications if the debt is sent to collections, as is the case for a...
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How to Talk to Debt Collectors When They Call
The phone rings. You wonder, “Is it a debt collector?” You decide not to answer it because you don’t want to face another troubling call. Has this ever happened to you? We take on debt when we need...
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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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Can a Debt Collector Double My Debt?
If you’re trying to clear up your credit by paying off a collection account, beware: you may owe more than you thought. A Credit.com reader asks: I have an old credit card collection that started as a...
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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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9 Signs You Are Talking to a Debt Collection Scammer
Consumers are forking over hundreds, even thousands, of dollars to debt collection scammers. Our reader Ashley wrote: “They told me that my loan had gone into default and if I did not pay the $398...
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Can a Bad Debt Get You Deported?
Can your unpaid debts get you deported or barred from entering the U.S.? Our reader, who goes by the screen name “Chica,” says she came to the U.S. with her mother-in-law, who received treatment for...
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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 Debt Collection Practices That Need to Change
Major changes may be coming to the debt collection industry. The Consumer Financial Protection Bureau (CFPB) published an announcement asking for comments on issues facing consumers and the industry,...
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How Does a Collection Appear on Your Credit Report?
Forgetting to pay a fine, ignoring unaffordable debt, missing a bill payment — such scenarios may lead to debt collectors and, eventually, the black mark of a collections account on a credit report....
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Why Debt Collectors Need New Rules
What consumer protection law is about as old as the arcade game Pong and nearly as antiquated? The Fair Debt Collection Practices Act — the law that governs what’s become a multi-billion-dollar...
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CFPB Reaches $14 Million Settlement With Payday Lender
The Consumer Financial Protection Bureau has taken its first action against a payday lender since it began overseeing the industry in 2012. On Nov. 20, the CFPB announced a $14 million settlement with...
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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...
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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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