(Jocelyn from Florida) I am trying to buy a house but my credit cards have big balances. Can I legally stop credit card debt from destroying my credit? (more…)
Credit and Debt Blog
A Service of Debtors Unite, Inc.
|
|
|
Archive for the ‘Eliminate Debt’ Category
Am I Responsible for Paying my Ex-Wife’s Credit Card Debt?
(Sam from Maine) I just found out that I owe thousands of dollars on credit cards that I shared with my wife. She ran up the balances after our divorce. Am I responsible for paying my ex-wife’s credit card debt? (more…)
Western Sky Scam is More than Just Usury
Western Sky Financial has been one of the most prominent and most successful lenders over the past couple of years. Desperate consumers continue to flock to the high-interest lender to obtain loans that they believe will somehow alleviate their financial situation.
Skeptical consumers often ask, “is Western Sky Financial legal?” Of course they are referring to the usurious interest rates charged that often exceed state usury limits where the consumer lives. While the rate itself is often actually illegal, what is really interesting is the illegal steps taken by the lender to obtain a judgment against those who fail to repay the nearly impossible to repay loans. (more…)
Debt Settlement Companies Use Rent a Lawyer Scheme to Avoid Regulation
Recent legislation bans the long abused practice of debt settlement companies charging huge upfront fees to clients who mostly never received the services promised to them. Instead of complying, many debt settlement companies are exploiting a loophole that allows them to continue cheating customers.
The ban on upfront fees does not apply to lawyers. A law firm who represents a debtor may charge an upfront fee for debt settlement services. Debt settlement companies are exploiting this exception by “partnering” with law firms to get around the advance fee ban. (more…)
When a debt is sold can the new company get an additional 7 years to report on my credit report?
(Barbara from South Carolina) I have old accounts that have been transferred to or sold to other lenders. The date of last activity exceeds the 7 year FTC law. Does the new company get an additional 7 years to report on my credit report? If not, what do I do to resolve this? (more…)
What if a Relative Steals my Identity?
(George from North Carolina)
I have just discovered approximately 14 credit cards taken out in my name by whom I suspect to be a loved one. The total debt comes to approximately $30,000. I certainly can not afford to pay these off nor make the scheduled payments. All are in default at this point, some sold to collection agencies and some still held by the original companies. Is there anything I can do to correct my credit. I do not want loved one arrested. (more…)
Is there a maximum time limit a creditor can attempt to collect a debt?
(Gary from Indiana) Is there a maximum time limit a creditor can attempt to collect a debt? (more…)
Do you Offer Credit Counseling Services Relating to Payday Loans?
(Deanne from Wisconsin) Do you offer credit counseling services relating to payday loans? (more…)
Telecom Shows Charge Off for Line Never Installed
(Andy from New York) Last year I tried to initiate phone service with a major company. They were entirely incompetent to the extent that they never even managed to install the line. I never made or received a call. I never signed a contract, and never received a bill from them.
I have just learned that they marked a “charge off” on my credit report for $350. I plan to contact them to see if it can simply be removed, but do not trust them. If they refuse, what is my next step? Do I have grounds for a lawsuit?
Many thanks,
Andy
How Much Does Bankruptcy Counseling Cost?
(Alexander from Pennsylvania) What is an approximate fee to take a credit counseling course as a requirement to file for bankruptcy? (more…)
