Category Archives: Debt
Consumer Financial Protection Bureau Aims To Amend Regulations On Credit Card Late Fees
Credit card debt is one of the most frequently cited sources of financial hardship among consumers who file for bankruptcy protection or seek the services of debt lawyers. Low-paying jobs and gigs with little or no paid leave or employer-provided health insurance are the norm; meanwhile, most of life’s necessities are expensive, from housing… Read More »
Using Social Media To Get Out Of Debt: Dos And Don’ts
When you were young, your grandparents balked at how little you hesitated to enter your credit card information online to make purchases or even enter your bank account number in an online form in order to receive direct deposit payments from your job. Today, social media sites like Facebook, Instagram, and Facebook are an… Read More »
What To Do If You Can’t Afford Your Credit Card Payment This Month
According to recent estimates, more than 60 percent of American adults are in debt, and many of them must resort to credit cards to pay for necessities such as groceries and utility bills. Between inflation, the aftermath of Hurricane Ian, and the approach of a new fly season and perhaps even a new COVID… Read More »
What Is The Cheapest Way To Deal With A Lawsuit From A Creditor?
Business to consumer lawsuits were rare a few decades ago, but today they are on the rise, especially in states like Florida, which offer little protection to consumers. Creditors and collection agencies have the right to sue you over credit card debt, unpaid medical bills, and many other kinds of consumer debts. If you… Read More »
Deceptive Advertising Practices Are Rampant In Car Sales, And The FTC Wants Them To Stop
Medical bills are the biggest source of consumer debt, and payday loans are probably the most predatory, but car-related expenses are not especially benign. In most parts of Florida, it is virtually impossible to commute to and from work without a car. Buying a car often feels like a Faustian bargain for several reasons. … Read More »
What Could Possibly Go Wrong With Debt Settlement?
Wouldn’t it be nice if you could pay $500 to make an $800 debt go away? Sometimes you can. When creditors despair of collecting the full amount of a debt, they are sometimes willing to discount the amount that they originally asked for, based on the principle that getting some money is better than… Read More »
Don’t Ignore Calls From Creditors, But Don’t Give Away Too Much Information
A common feature of lawyers, diplomats, and the most successful social hosts is that, when put on the spot, they can think of something to say that sounds appropriate but cannot be used against them later. They have spent years practicing this skill. You should also employ this tactic when dealing with debt collectors;… Read More »
Beware Of Fake Medical Bills
Healthcare in the United States is obscenely expensive, even for people with employer-provided health insurance and public marketplace insurance. Some people’s response to getting a medical bill in the mail is to put it in a drawer or the trash can, despairing of ever being able to pay it. Others call the number listed… Read More »
The Nursing Home Debt Nightmare
“Don’t get sick” is both the truest piece of financial advice and the most difficult to follow. Approximately half of adults in the United States have medical debt, and what you should do to address the debt depends largely on whether or not you are still young enough and healthy enough to work. If… Read More »
What Are Charge Offs?
In horror movies, sometimes the scariest sound is silence and the scariest sight is nothing at all. The same thing can be true with debt-related communications. As nerve-wracking as it is to receive constant reminders about debts you can’t pay, whether these reminders arrive by postal mail, email, or phone, it is even scarier… Read More »