Credit Score For Dummies

If you have a substantial amount of debt, you’ve more than likely considered the services of a debt consolidation or settlement company . However, with so many stories of unethical practices and scams surrounding such companies, you may be wondering if all of them are dishonest, and strictly out for your money. That is certainly a legitimate concern, and quite frankly, should influence your decision when looking to reduce your debt.

Fortunately, not all debt consolidation companies are unethical and scam-artists. There are many out there that offer services that can be of assistance, particularly if you have a dire need. R

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Everyone right now has been focused on the economy and how it affects everyone – the nation, the giant corporation, and the individual. Debt has gotten out of control and people and companies are feeling the pinch – and the loss of sleep at night. While most of us cannot do anything about the national debt or the economy, you can do something about your own debt that will enable you to sleep better.

1. Reduce Your Interest Rates

Recently, the financial power brokers – the Federal Reserve – decided to lower the interest rates. This is a good place to start to help the money in the nation to flow better.

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The debt collection industry is tired of being treated poorly by the debtors they are attempting to collect an alleged debt from, according to an article in the New York Times.  The Association of Credit and Collection Professionals(ACA Int’l), has launched a website, askdrdebt.com to answer pertinent consumer questions about everything debt. However, the site will tell you what the debt collectors want you to know and answers to many of the questions thus far are not clearly worded or easy to understand.

With the official launch next month of the new consumer protection arm of the FTC, the Consumer Financial Protection Bureau, debt collectors and their practices will come under additional, well needed scrutiny. Pr

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The Consumer Credit Protection Act categorically provides under Title VIII the FDCPA of United States, otherwise known as Fair Debt Collection Practices Act of 1978. The Federal Trade Commission is a regulating body to ensure strict compliance of the provisions of FDCPA. The Act is enacted to protect equally the fair debt rights of both the creditors and debtors. As observed to be the subject of deliberate debt collector harassment, FDCPA intends to forestall abusive practices of debt collectors and creditors, outrageously demanding full settlement of consumer debts. Being at the losing end, the right of creditors to collect what is due them is likewise guaranteed. Read more…

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Debt collection calls and collector harassment letters are definitely frustrating but before contacting a debt attorney there are things you can and should do on your own. Few people realize there are rules and regulations debt collectors must adhere to especially where collector harassment is concerned. There is a difference between in-house collectors and 3rd party collectors. Every business has an accounting sector ready to institute debt collection procedures. After about 3 months, most companies will turn the debt over to a collection agency. At this point a 3rd party collector buys the debt from the original owner. Read more…

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If you have too much debt, you are thinking about debt consolidation, and you have bad credit there are some moves that you can make to lighten the load. One of the best moves is a bad credit debt consolidation home equity loan.

Managing Debt with Consolidation

The idea is to make one payment for your debt instead of a lot of little payment. This would make paying your debt more manageable. There may be a reduction in your debt because of lower interests on equity loans. The debt consolidation industry has many variations of this loan package. For those with equity in their homes and bad credit it could be a light at the end of the tunnel.

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