Debt Collection

Guide

3 Top Reasons Why Rentals Are Denied

Avoid Being Rejected When Renting a Home

Has your rental application just been rejected? Determined to make lemonade out of lemons, you resolve to find out why you were rejected and...

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Credit Rating Delinquency, Foreclosure & Eviction Debt Collection Bankruptcy

Q&A

Asked by an anonymous user

I have a $243 collection account on my credit report from 2012. If I pay this debt will it stay on my credit report for another 7 years?

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Answers 1

Answered by Lorene Collier, Financial / Credit Consultant

Yes, it will remain on your account for 7 more years. Any interaction with the creditor restarts the clock on the statute. However, you can ask for removal in lieu of...

Credit Rating Debt Collection Home Purchase Loan Borrowing

Guide

How To Pay Bills Late

What to Do When You Miss a Payment

Normally you are on time with your payments, but somehow you managed to miss one this month. What are the consequences of a missed payment, ...

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Credit Rating Debt Collection Borrowing Credit Cards

Guide

What's Worse Than Debt Collectors Calling? Fake Debt Collectors!

Protect Yourself from Debt Scammers

You may receive calls from debt collectors trying to recover past-due debts whether you have debts or not. The calls may be from legitimate ...

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Debt Collection Borrowing

News

Debt Collector Fined $25 Million

What to Do When You Think a Debt Collector Has Gone Too Far

Debt collectors have been known to go to great lengths to collect unpaid debts. On occasion, a debt collector will go too far and face legal...

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Debt Collection Borrowing

Guide

Student Loan Collections Stopped

Student Loan Crisis Part 2 of 5

A recent action by a Court of Federal Claims has effectively stopped the collection of defaulted student loans – but for those affected, thi...

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Debt Collection Borrowing Student Loans

Q&A

Asked by an anonymous user

How can I check to see if a credit collection agency has filed suit against me?

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Answers 1

Answered by MoneyTips Writing Staff, Financial Adviser in Los Angeles, CA

If you are being sued in a civil action, you must be provided notice, but states have different laws regarding the method of providing the notice. We suggest you consu...

Debt Collection Borrowing

Q&A

Asked by an anonymous user

We are being sued by a debt collector for a debt acquired from CitiBank dating back to 2007. What are our legal options?

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Answers 3

Answered by David Skow, Mortgage BrokerPRO+ in Seattle , WA

If you owe the money - contact debt collection agency and ask if you can settle for an amount less than present balance.

Debt Collection Borrowing Credit Cards

Guide

Do Nothing And Get A Higher Credit Score

Changes That Should Increase Credit for Millions

Changes are coming to your credit report – and this time, those changes may work in your favor. Thanks to some background work by the three ...

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Comments 4

Credit Rating Debt Collection Borrowing

Q&A

Asked by Allelk48

My husband and I are both on Social Security. We have overwhelming medical bills that are in collection. Can our checks be garnished?

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Answers 1

Answered by Dave Bradley, Investment Manager (Financial Advisor) in North Charleston, SC

Hi Allelk48. Sadly, there are many folks in this situation. You should discuss this with your legal advisor or attorney. I would also suggest that you contact a de...

Debt Collection Social Security Borrowing Investing & Retiring