The Bare Basics Of Debt Collection Part Three

In parts one and two in this set of articles on the very basics of debt collection, I wrote about the differences between an in house collector and a third party debt collector. I wrote about the different types of ways that debt collectors will locate the debtors, and described a number of statements that the debt collector must say before they can proceed in their attempt to collect debt from you.

How To Snowball Your Debt

Three steps to freedom form debt:

Wiki Statute Of Limitations

Statute of Limitations on Debt Collection is the amount of time that lenders have to collect their debts by suing you in court and by other legal methods. Once the statute of limitations period is over, the lenders cannot sue you in court. However, the debt that you owe STILL REMAINS. Do not think that once the statute of limitations period is over, your debt will disappear. It will not! Lenders can collect their debts owed via other legal methods like a debt collection company.

Are You Being Haunted By Zombie Debt?

Like the phoenix that rises from the ashes, so does so-called zombie debt. A consumer may think it’s dead, but it keeps coming back to haunt.

Unlawful Debt Collection Practices

The government is stepping up as debt collection hustles rise. In recent news, Buffalo New York has been home to a number of unlawful debt collection techniques, and authorities have taken at least twelve people into custody. Despite the fact that the vast majority of collection agencies are legitimate and good for the economy, there has been a rising amount of deceptive and illegal practices.

Fake IRS Scheme Hits Internet

Tax season has arrived and so have the cyber crooks. IRS scams are circulating, the latest one involving an official looking email from the IRS that states that you can get your tax refund on a Visa or a Mastercard. It asks for your credit card number, your social security number, credit card expiration dates, card verification value numbers, amount shown on your tax return, filing status and other personal information.

Are your medical accounts collecting dust?

Do you know how many patients your medical collection agency collected from last year? If you don’t, how can you evaluate their effectiveness or your return? How could you possibly be aware?