Different types of bankruptcy exist for different situations. There are forms of bankruptcy that help businesses restructure and also forms of bankruptcy that primarily help those who work as farmers or professional fishermen. For individuals and married couples...
When someone borrows money or makes a purchase on credit, they have an obligation to make payments until they repay the principal balance that they borrowed and any fees or interest assessed. The companies that lend money to individuals have an interest in pushing...
Debt collectors are known for their aggressive tactics, but some take it to the extreme by pursuing so-called "zombie debt." Zombie debt is old debt that has been written off and deemed uncollectible, often because the debts are so old. Some debt collectors are...
Debt collection itself is certainly legal, but it does have to happen in a specific way. Prior to 1978, there were instances of unfair collection tactics, and so the Fair Debt Collection Practices Act (FDCPA) was put into effect. The goal was to eliminate unfair...
Many companies start annoying collection activity as soon as you miss a single payment. In fact, you don't even have to fall a full month behind. They might start calling you the day after the payment's due date when it is still just a late payment and not yet a...
Nearly everyone takes on some kind of debt in their lives. Debt is often the easiest choice when you can’t pay off goods immediately and wish to pay them off at a later date or you wish to build up your credit score. However, debt can easily get out of hand without a...
https://www.ftc.gov/news-events/news/press-releases/2022/09/ftc-takes-action-stop-credit-karma-tricking-consumers-allegedly-false-pre-approved-credit-offers?utm_source=govdelivery Nearly One Third of Some “Pre-Approved” Offers Resulted in Denials; Company to Pay $3...
https://www.ed.gov/news/press-releases/biden-harris-administration-announces-final-student-loan-pause-extension-through-december-31-and-targeted-debt-cancellation-smooth-transition-repayment AUGUST 24, 2022 Contact: Press Office, (202) 401-1576, [email protected] Today,...
If you are like many other ambitious professionals, you probably feel like your financial circumstances are among the things in life that you can directly control. You determine how much you put on your credit cards and how much you pay toward the balance owed on...
https://studentaid.gov/announcements-events/idr-account-adjustment On April 19, 2022, the U.S. Department of Education (ED) announced several changes and updates that will bring borrowers closer to forgiveness under income-driven repayment (IDR) plans. These...
