What Are the Best Debt Relief Options?

What is Debt Relief? Debt relief is any strategy you take to get out of debt or to manage your debt so that you can function normally and keep up with your bills and living expenses. It usually refers to situations in which your debt has become too overwhelming to manage on your own. Debt…

5 Tips to Manage Your Debt Effectively

Love it or hate it, debt is an integral part of modern life in the United States. And, when you think about it, debt in itself really isn’t a bad thing. Neither are credit cards or loans. They only become a potentially negative thing when they’re misused or mismanaged. And once they get out of…

3 Tips to Effectively Consolidate Credit Card Debt

It’s not easy to feel overwhelmed by credit card debt. Maybe you’re having trouble keeping up with your monthly payment minimums, or maybe you just don’t see how you’ll ever get out from underneath that massive pile of debt. If you’re worried about your accounts being sent to collections or you just need help putting…

What Is the Fair Debt Collection Practices Act?

The Fair Debt Collection Practices Act (FDCPA) is a law originally passed in 1978 in order to protect consumers and regulate the tactics that can be used to by debt collectors. If you have had collection agencies hounding you over a debt, it is imperative that you know what you rights are as outlined in…

Debt Validation

Under the FDCPA, you have the right to “debt validation“. This means a consumer can demand that a creditor reporting information to the credit bureaus prove the account is really your responsibility and that the balances are accurate. In addition, a collection agency must also prove they have a legal right to collect the debt.…

How to Get Out of Debt in 2017: 6 Steps to Financial Freedom

When controlled properly, debt is a valuable tool. Loans allow us to buy houses, cars, and educations. Lines of credit make spending more convenient. And payment plans save us from having to dealing with major expenses, such as out-of-pocket medical costs. A Guide to Managing & Getting Out of Debt While debt is often necessary…

Settling Your Debts – A Guide to Debt Settlement

You might feel like you’re out of options when you’re swimming in debt, but that’s just not the case. Debt settlement is a viable option that helps you negotiate a lower debt amount with your creditors. Instead of paying the full balance, debt collectors might agree to let you bring your balance down to a…

Statutes of Limitation on Debt Collection

Collection agencies and debt collection companies are well known for the way they do business. They’re much more concerned with getting paid than with how they go about collecting the debt. As long as they can get a consumer to pay the debt that is owed they care little about consumer’s rights or even whether…

How to Settle Debt with the Original Creditor

When a debt exists there are two parties involved – the creditor, who is the source of the loan, and the debtor, who is the receiver of the loan. If you are a debtor whose loan or credit card account goes into default, be prepared to face serious repercussions. However, it’s never too late to…

Chapter 7 Bankruptcy: What You Need to Know Before Filing

What is chapter 7 bankruptcy? Chapter 7 bankruptcy releases or “discharges” individual debtors from having to pay certain outstanding debts while allowing them to keep exempt assets so they can get on with their lives. It has strict eligibility criteria and only certain types of debts can be discharged. The main purpose of Chapter 7…