Debt collection harassment is an all too common problem in America. American citizens find protection under the Fair Debt Collection Practices Act (FDCPA).

Debt collection harassment is illegal and Americans need to know their rights when debt collector starts calling. The debtor doesn’t have to put up with abusive debt collection agencies calling them everyday.

The Fair Debt Collection Practices Act

The following debts are covered by FDCPA:

• Family and household debts
• Personal Credit Card Account
• Auto loan
• Medical bills
• Mortgage

The Fair Debt Collection Practices Act, specifies what debt collection agencies can and cannot do to collect on a debt.

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A bad credit score can hold you back. Take control and fix your credit score.

Having a bad credit score can prevent you from doing many things, such as qualifying for an apartment rental or obtaining a loan. You also must bear the burden of living with financial problems, which can be stressful. The good news is, you can start improving your credit score right away. With a little hard work and dedication, you can get a good score again.

Your Credit Report

An important first step is to find a copy of your credit report, which you can track down online. Your credit report will let you know exactly what your credit score is right now.

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The ongoing crisis in the economy has left millions of people jobless in the past few months. The impact has been so heavy that many borrowers have become defaulters in just a span of 6 to 12 months. The price rise has added woes to the economy. People seldom have adequate funds to buy things from shops. Loans are the only option to consolidate the debts. In the present situation, government has extended its financial assistance to most of the bankers and lenders and has issued directives to lower the interest rates. This might solve the issues for the time being but eventually they have to be paid back. Debt consolidation is the act of obtaining a single loan to settle the rest of the loans that the borrowers have.

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For many the overdraft represents one part of wide range of student finance options. This article considers the pros and cons of the student overdraft.

On deciding to undertake further study at University, many students will be offered a wide range of financing options from banks and other financial institutions. Products include student loans, credit cards and overdraft facilities. The student overdraft can be a useful tool however, it is also one which can lead to significant long term financial problems, if not used right.

What is an Overdraft Loan Facility

Simply put an overdraft is a form of short term loan between the bank and an account holder.

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Only half of struggling borrowers have heard of IVAs, a report from insolvency trade body R3 indicates.

R3 has estimated that around 220,000 people are currently in a formal insolvency procedure (such as bankruptcy or an IVA). A further 500,000 are in debt management plans, 574,000 are struggling, but have ‘contacted their creditors informally’. And 961,000 people are struggling with their debts but haven’t yet looked for help with them.

R3′s report, called ‘Struggling with debts without help’, looks at that fourth group.

It ‘explores the views and experiences of individuals at the very bottom of the personal debt ‘iceberg’ – those who are struggling without help’.

The report covers a lot of subjects, like why those people haven’t sought debt advice, what they’ve done about their debts, and how things like age and gender affect attitudes.

Among other things, the borrowers were asked about their awareness of the options that might be open to them. Continue reading…