Tag Archives: collections

What is debt management?

In a debt management program, you are paying the company a monthly debt management payment for a period of usually 3 to 6 years that they will apply to a monthly payment to each credit card in the program until the debt has been paid. Continue reading

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What is debt settlement?

Generally, debt settlement is a process in which a company, individual attorney or law firm negotiates settlements of your debts after you pay a fee and pay into an escrow account for many months or years. Continue reading

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What is the Fair Debt Collections and Practices Act?

The Fair Debt Collection and Practices Act (FDCPA) prohibits debt collectors from using abusive, decepĀ­tive, and unfair debt collection practices. Continue reading

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Can a debt collector sue me or have me arrested?

Many debt collector callers can be very abusive. Most of them get paid on commission. It is important to know that they are not allowed to threaten you. Continue reading

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If my wages are being garnished, what can I do?

There are three main ways to stop the garnishment: negotiate a settlement; negotiate a payment plan; or file bankruptcy. Continue reading

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Could I still owe anything even after filing bankruptcy?

Many people think that once they file bankruptcy, all of their debts are erased. This is not true. There are some debts that cannot be eliminated in bankruptcy. Continue reading

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When should someone consider filing bankruptcy?

If you feel you are you in trouble, you should consult with a bankruptcy attorney to discuss your options, some of which may not involve filing bankruptcy at all. Continue reading

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