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Posts Tagged ‘credit card debt’
Unsecured Credit Card Debt Consolidation Loans
In: Loans
1 Dec 2009The following article presents the very latest information on credit card debt consolidation. If you have a particular interest in unsecured debt consolidation loans, then this informative article is required reading.
Student loan debt consolidation can help to reduce your monthly loan repayment in one of two ways. As we’ve already seen, it can fix the interest rate at a lower level. Students are not spared from the problems of handling loans. For students having a problem of paying their student loans, student debt consolidation could be a great move to make.
Financing companies generally give bigger loans to individuals with a…
A Phone Call from a Credit Card Debt Collector? . . . You Do Not Need to Take It.
In: Credit & Debit
18 Oct 2009Telephone calls have no legal weight since there is no record of what was said on a call. Knowing this, credit card debt collectors will say threatening things on the phone and get away with telling their lies. That is why consumer debt collectors choose to use the phone over mail. Debt collectors lose their power when communications are reduced to writing.
Written communications from and to a credit card debt collector are what matter in court. If a consumer is writing to a debt collector it should always be certified return receipt requested.
There is a saying in online consumer forums,…
What to Do with a Court Summons for Credit Card Debt
In: Credit & Debit
10 Oct 2009The first important step is to actually respond to the court summons. Out of guilt, too many people mistakenly defeat themselves by ignoring a summons for credit card debt. They then lose by default and the collection attorney has his way with them.
The answer to a court summons is only the beginning of the case. Two to three pages is quite sufficient. The consumer needs to use this answer to put the collection attorney on notice that he is going to have to work hard to prove his case. The key to this is making the collection attorney…
Be the Consumer Credit Card Debt Collectors Do Not Want to Collect From
In: Credit & Debit
9 Oct 2009Most people would simply rather pay their credit card debts than deal with collection phone calls and collection attorney letters. But, what about those who cannot afford to make monthly minimum payments on their credit card debt? Many fall prey to the debt collection industry. Some, however, become educated consumers and use the law to force debt collectors to spend their time with other, less knowledgeable consumers.
Time is money for a credit card debt collector, who is in the business of collecting unsecured consumer debt, most of which happens to be credit card debt. These consumer debt collectors…
You Can Stop a Junk Debt Buyer’s Collection of Your Older Credit Card Debt
In: Credit & Debit
9 Oct 2009Every consumer should know that invoking current consumer protection laws will stop the collection activities of a junk debt buyer.
Junk debt buyers invest in discharged credit card debt for pennies on the dollar. They also sell and resell the debt they have purchased to other junk debt buyers for smaller and smaller sums of money. Business Week, as an example, reported Portfolio Recovery Associates, a large national junk debt buyer, paid $791.6 million over an 11 year period for $35.3 billion of debt in 16.7 million customer accounts. For each dollar of credit card debt that averages less…
The first important step is to actually respond to the court summons. Out of guilt, too many people mistakenly defeat themselves by ignoring a summons for credit card debt. They then lose by default and the collection attorney has his way with them.
Answering a court summons for credit card debt is actually not that intimidating. It only takes a two or three page document. To defeat the collection attorney, the consumer’s answer needs to demand he properly document the debt, according to the Credit Card Debt Survival Guide.
The court will usually support the consumer’s demand for documentation. Collection…
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