Americans today are bringing more than $ 900 billion in credit card debt. With average interest rates on credit cards to 14 percent of Americans are paying more than $ 100 million a year in interest payments on debt credit card only. To put this in perspective, $ 100 million it cost to build the new Cowboys stadium in 2009 in Dallas, Texas. Imagine a stage of new construction each year indefinitely. This is what you pay in interest on our credit cards.
If you are receivingIs struggling with interest payments, possibly unemployed, sick, or not linked financially unable to pay debts, you'd better not live in Minneapolis. According to the Minneapolis Star Tribune, "hunted", his research found that the use of arrest warrants against debtors jumped to more than 800 people in 2009. Unfortunately, these stories are not limited to Minnesota with attorneys general across the country struggling with debt collectors.
It has rights. You have the right to defend himself! The first place to start is with the law of consumer protection, in particular, the Fair Debt Collection Practices Act, FDCPA. When you receive your credit report back on track, familiarity with the game and the actual experience of dealing with creditors, collectors and the lenders is important for a favorable outcome.
First, dealing with credit bureaus, creditors, and> collection agencies is important to filter the information they provide about yourself through the lens of the law on consumer protection. For example, Equifax, Experian and TransUnion reports a negative mark on your credit report, but can not verify the information with the information provider within a reasonable period of time when we ask (a not frivolous) research, the credit bureau must remove the brand of your credit report. And if the applicantresearch, can not see the negative sign, as presented to the Board of demand, it is likely that lack of entitlement to collect the debt from you. Be proactive, attacking for you, is how to deal with creditors.
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