A common question asked about collection agencies is how long they have to collect on a debt. The simple answer is they can try to collect as long as they want to. After that answer, the truth get a lot more complicated. The Fair Credit Reporting Act, which was enacted in 1970 and last revised […]

As a disclaimer, this is actually a re-post of an article I wrote some years ago and had on a different blog. The focus of that blog isn’t financial, but I had that blog way before I purchased this one. Because the topic fits better here, I’ve moved it here and updated it a little […]

Last week there was a story on CNN’s website talking about people in Florida, who thought that they had settled with lenders regarding homes that were foreclosed upon, suddenly getting contacted by, and in some cases sued, by collection agencies. It seems that, by law, if agencies buy debt from lenders that they can go […]

There was an interesting news story on CNN last week. Actually, it wasn’t quite news, more of a feature. It was called Confessions of Former Debt Collectors, and at least half of them stated that they knew that they were breaking the law with some of their collection practices. Yet they knew that they had […]

Last week, I wrote my first post on debt consolidation frauds, and it got a lot of readers, if not a lot of commentary. I’m not sure what that means, but suffice it to say that many of these guys are just bad. This is the other side of the fence, debt collection companies, or […]

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