Oooh?!? Good question!!! Why yes, I thought so. I really must stop talking out loud to myself, but when these questions come to mind I immediately want to share them with you. So this is one of those that EVERY client asks me. And I realized that not everyone knows this. So today I am
Fair Debt Collection If you use credit cards, owe money on a personal loan, or are paying on a home mortgage, you are a “debtor.” If you fall behind in repaying your creditors, or an error is made on your accounts, you may be contacted by a “debt collector.” The Fair Debt Collection Practices
Accounts Receivable: credit extended by any person or company to another (normally unsecured) with usual repayment terms requiring a monthly payment to amortize the balance owed. Amortize: To liquidate or reduce an amount owed through a series of payments. ANI: See Automatic Number Identifier. Attorney: A legal agent authorized to appear before a court of
Can collection agencies charge interest? Debt collectors and creditors must follow federal and state laws when adding or charging interest on debts. Interest on Debts (when no judgment exists) Section 808(1) prohibits debt collectors from collecting any amount unless the amount is expressly authorized by the agreement creating the debt or is permitted by law.
Pay off your debt If you are in debt and pay only the minimum payments on high interest debt you should already understand that you are spinning your wheels and are going to take forever to pay off your balances. The minimum payments are designed to keep you in debt. Your creditors are sharp, they