Are you tired of getting calls from creditors about unpaid debts? Learn some of the insider secrets of the debt collection industry.-- They assume that you are always lying to them. That's why they push you to make unwise financial decisions in order to pay them off,...
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Debt Relief
With Trump, will predatory loan practices increase?
As we bid farewell to outgoing President Obama and his often consumer-friendly policies and herald the new Trump administration, it's a good time to consider the changes President Trump may make to the Consumer Financial Protection Bureau.As America's fledgling...
New law on student loan debt forgiveness takes effect
It's a nightmarish scenario -- grieving parents struggling to cope with the loss of their sons and daughters while being dunned to pay back the student loans they co-signed to further their now-deceased children's educations.Finally, New Jersey state lawmakers made a...
Americans struggle with debt while hospital execs rake in cash
It's enough to make you steaming mad. Even as 20 percent of working Americans struggle with mounting piles of medical debt, hospital executives are cashing in millions in annual salaries augmented by benefits. Some of those are even at the helm of non-profits.America...
Is that a debt collector or a scam artist on the phone?
There are a lot of scams floating around out there, and some of the most realistic are the ones purportedly from debt collection agencies informing consumers that they risk being sued or arrested if they don't pay their alleged debts off immediately.Few things are as...
1 payday loan shouldn’t lead to bankruptcy
A consumer wrote to Bankrate's Debt Adviser, wanting to know if her failure to pay off a $1,500 payday loan was enough debt to consider filing for bankruptcy. The woman had taken out the high interest rate loan to cover emergency medical expenses, but was unable to...
Are you staggering under the weight of medical debts?
Are you struggling to pay down mountains of medical debt? It only takes one illness or accident to wipe out one's savings and wind up in debt for a lifetime.Medical debt is bankrupting more consumers than many other types of financial burdens. Some statistical data...
New Jersey pursues co-signers for dead students’ loans
It seems unfathomable. A New Jersey mother who was the parent of a murdered son received correspondence from the state's Higher Education Student Assistance Authority. While the letter began by offering her condolence on the loss of her son, it continued:"After...
In debt to payday loan sharks? Consider bankruptcy
Those who struggle to live paycheck to paycheck can be tempted to make ends meet by taking out one or more payday loans. But this highly detrimental practice can land you in even more financial hot water.In addition to being a form of usury for the sky-high interest...
What should I know about child identity theft?
Identity thieves love to go after children and steal their identities because the theft usually goes undetected for years. In fact, all a thief requires to create a fraudulent credit card is the Social Security number of a child. They don't even require the name that...