Debt Delinquency

5 Ways Delaying Bankruptcy Can Majorly Cost You

January 10, 2016

Managing debt is part of life for many people. When that debt becomes overwhelming and unmanageable, however, ignoring the problem – and putting off bankruptcy or other debt relief options – can be ruinous. That’s because debt won’t disappear and creditors will become increasingly determined to collect the monies owed to them. Overtime, if borrowers…
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4 Essential Facts to Know about Colorado Payday Loan Laws

November 10, 2015

When money is tight and sudden expenses come up, some people may consider taking out a payday loan to help them get by until their next influx of funds. Although payday loans can be helpful in limited circumstances, however, they can also cause big problems for some people struggling with debt, possibly causing that debt…
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Complaints against Debt Collectors on the Rise, Report Reveals

August 31, 2014

More consumers are filing complaints against debt collectors for their allegedly harassing and abusive tactics, according to the findings of a recent report published by the Consumer Financial Protection Bureau (CFPB). As this 2014 report found: From July through December 2013, the CFPB handled more than 30,000 complaints against debt collectors. Throughout 2013, the Federal…
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Borrowers’ Rights under the Fair Debt Collections Practices Act (FDCPA) (Pt. 3)

May 27, 2014

Concluding Borrowers’ Rights under the Fair Debt Collections Practices Act (FDCPA), here is some final essential information that borrowers should know when it comes to their rights and dealing with creditors. FDCPA: More Prohibited Conduct for Creditors In addition to not calling borrowers at weird hours, incessantly and at work, other things that third-party debt…
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Borrowers’ Rights under the Fair Debt Collections Practices Act (FDCPA) (Pt. 2)

May 23, 2014

Picking up from Borrowers’ Rights under the Fair Debt Collections Practices Act (FDCPA) (Pt. 1), here we will continue our discussion regarding the important provisions of the FDCPA that all borrowers should be aware of. While the first part of this blog was focused on pointing out some of borrowers’ specific rights as laid out…
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Borrowers’ Rights under the Fair Debt Collections Practices Act (FDCPA) (Pt. 1)

May 20, 2014

Established in 1977 as an amendment to the Consumer Credit Protection Act, the Fair Debt Collections Practices Act (FDCPA) is a statute that is intended to protect borrowers from potentially abusive practices creditors may use when trying to collect debt. While the FDCPA specifically outlines borrowers’ rights, as well as prohibited actions for creditors, it…
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How to Deal with Debt Collectors (Part 1)

October 25, 2013

Owning money on multiple debts that may not immediately or readily be able to make payments on can be both embarrassing and stressful, particularly if the debt collectors are regularly calling you and/or sending you letters  trying to collect on the debts owed. While you may want to take the ostrich route and hide your…
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The Stages of Debt Delinquency and How to Avoid Them (Part 3)

October 10, 2013

Concluding the three-part blog The Stages of Debt Delinquency and How to Avoid Them, the following outlines the final stage of the vicious debt delinquency cycle, as well as what borrowers can do to stop the cycle, protect themselves and achieve a financial fresh start. Final stage of delinquency: Creditors take legal action against you…
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The Stages of Debt Delinquency and How to Avoid Them (Part 2)

October 8, 2013

As a continuation of The Stages of Debt Delinquency and How to Avoid Them (Part 1), the following provides additional information regarding how debt delinquency can progress and harm borrowers. While Part 1 of this blog discussed the first two stages of the debt delinquency cycle, here in Part 2, we will focus on discussing…
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The Stages of Debt Delinquency and How to Avoid Them (Part 1)

October 6, 2013

With the slow, unpredictable nature of the economic recovery, as well as the fact that many people are still having a difficult time getting a job, it’s not uncommon for people to fall behind in paying their bills and face the danger of delinquency. Delinquency, also referred to as debt delinquency, is the state of…
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