Obligations of Creditors and Credit Reporting Agencies Under The FCRA
In 1970, Congress adopted the Fair Credit Reporting Act (FCRA) to protect consumers and regulate how credit information is used and disseminated. The FCRA was passed to address the growth of the credit reporting industry – which compiled “consumer credit reports” and “investigative consumer reports” on individuals. The FCRA was the first federal law to […]
The Link Between Mental Health And Financial Stability
STUDIES SHOW HIGH DEBT CAN INCREASE THE CHANCES OF MENTAL AND PHYSICAL HEALTH PROBLEMS It is no surprise that having debt can cause stress. However, those studying the effects of debt related financial pressure were surprised to see the dramatic impact on mental and physical health, including significant increased chances of suicide. The complications of […]
State Regulation Preventing Creditor Harassment: Protecting Consumer From Aggressive Collection Practices
Debt can be a heavy burden for many individuals, and dealing with creditors can often exacerbate stress and anxiety. While creditors have the legal right to collect debts, certain practices are prohibited to protect consumers from harassment. Many states have enacted additional regulations aimed at preventing creditor harassment, ensuring that individuals facing financial difficulties are […]
Wage Garnishments
If you’ve hit a financial rough patch and are struggling to keep up with your payments, it’s easy for your accounts to fall behind. Eventually, your debts may be sent to collections, and you might face a legal situation. This could lead to a summons, and soon, you’ll find yourself being sued by your creditors. […]
Debt Settlement and Debt Consolidation: Two Solutions To A Similar Problem
Anyone facing large amounts of debt is under a seemingly insurmountable level of pressure. Not only getting out of the debt seems daunting, but the options can be just as confusing and stress-inducing as the debt itself. There are three terms most people are likely to hear when it comes to debt resolution: These seem […]
Alternative Solutions To Too Much Debt
Why We offer Debt Settlement Our law firm has helped thousands of people get a fresh start with debt settlement. We have seen the positive impact it can have on people’s lives. And studies back our observations. According to the American Fair Credit Council, on average, debt settlement saves consumers $2.64 for every $1 in fees […]
Understanding The FDCPA & Your Rights
What is the Fair Debt Collection Practices Act? The FDCPA, also known as the Fair Debt Collection Practices Act, was enacted in 1978 by Congress because of a finding of “abundant evidence of the use of abusive, deceptive, and unfair debt collection practices by many debt collectors” 15 U.S.C. § 1692. In broad terms the […]
Consolidation Loans In Debt Settlement
Clients in a debt settlement program may become eligible for a consolidation loan. A consolidation loan creates an opportunity to expedite the debt settlement process, but these loans come with pros and cons that should be understood by the client. How Consolidation Loans Work The consolidation loan provider will loan you money that is deposited […]
Understanding The FCRA & Your Rights
What is the Fair Credit Reporting Act? The Fair Credit Reporting Act[1] (“FCRA”) was enacted by congress in 1970 with the goal of protecting consumers from inaccuracies, unfair reporting practices, and privacy breaches by credit reporting agencies. The FCRA helps to regulate the use of consumer reports by laying out rules covering; dispute resolution, the dispersing […]
How Can Debt Settlement Actually Lead to Improved Credit
I cannot emphasize the importance of a good credit score enough, however when minimum payments are taking over your life, you are most likely one slip up away from damaging that score, and not in a position to enjoy the benefits of a high credit score. The reason for this is that many companies design […]
