Risks of paying just the minimum due on credit card accounts
The minimum payment on credit accounts should be used as a convenience only because paying only the minimum could mean you end up paying 3 times the original purchase.
The minimum payment on credit accounts should be used as a convenience only because paying only the minimum could mean you end up paying 3 times the original purchase.
Medical debt can seriously damage credit but by July 1, a significant number of consumers will have medical collection debt removed.
You may be able to negotiate collection debt for much less than what is owed. Read on to discover some tips for negotiating your debts.
The FDCPA does not clearly set standards as to what is proper debt validation but the court’s have made rulings that can be used as guidelines.
Choosing the right credit counseling agency can make the difference in reducing your debt or digging yourself further into debt.
Debt settlement can hurt credit scores because having late payments are essential to settlement, creditors are motivated to settle when you have multiple lates
Once a collection account lands on your credit reports it can stay for up to 7 years from the date of the original account’s default regardless payment. Paying a collection account does improve credit scores but only under FICO 9 scoring system.
Debt validation is a powerful tool consumers have to use against unfair debt collection. It forces a debt collector to prove you owe the debt.
A simple debt validtion letter example that can be used to request debt validation from a collection agency.
Keep your cool with these 17 Tips to Deal with Debt Collectors: Stay calm, stay off the phone, know your rights and request proof of debt.
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