Garnishment is when a creditor excercises its claim against the assets of a debtor that are in the possession of another party, like a paycheck. It differs from attachment, which is taking assets that…
The only non-taxable payments from a lawsuit are those that compensate for physical injury or sickness. Property damage payments are taxable. Some lawsuits involve both personal injury and property…
The Telephone Consumer Protection Act (TCPA) protects consumers from unlawful telephone practices made by collection agencies and telemarketers. Collection agencies that fail to abide by the TCPA's…
The Fair Debt Collection Practices Act protects consumers from abusive, illegal and harassment tactics by creditors, including collection agencies. The FDCPA has numerous provisions for creditors. For…
Federal and state laws govern collection agency behavior when attempting to collect a debt. Debtor rights include the time that collectors can call and what they can say when they are talking to you.…
Tax increases can have a significant impact on both those paying the taxes and those benefiting from increased tax revenue. Businesses and individuals may change their behavior to try to avoid higher…
Even if you owe a doctor, bank or school a lot of money, federal and California laws protect you against unfair debt practices. In 1977, California officials passed the Rosenthal Fair Debt Collection…
The Federal Trade Commission recommends that people seeking relief from debt focus on credit counseling, realistic budgeting, debt consolidation or bankruptcy. However, only one of the…
Many analysts compare the rates of personal debt as a percentage of a country's gross domestic product (GDP). Specifically, such ratios are used to describe the stability of an economy, especially…
Maryland residents are protected against debt collectors by a set of federal laws known as the Fair Debt Collection Practices Act. In some cases, the Maryland Attorney General can step in to help…
Putting assets into a trust can help you determine what happens to them after you are gone. If you want to protect your assets from creditors, the type of trust that you choose to use is important.…
Consumer debt takes on various forms, like car financing and other loans, home mortgages and credit cards. The U. S. Census Bureau estimates that Americans carried more than $929 billion in credit…
When you make the decision to manage your debt, you must maintain that determination in order to succeed. Getting into debt is easy, but getting out is a significant challenge. Explore the various…
The Fair Debt Collection Practices Act (FDCPA) provides protection to consumers against abusive and deceptive collection practices by debt collectors. The FDCPA provides guidelines for legitimate…
Class action lawsuits are requested on behalf of a large group of people who are are similarly affected by wrongdoing on the part of a company or organization. A class action lawsuit can be filed in…
Credit collection practices involve companies attempting to recoup potential losses by contacting people who fall behind on their payments. And while these contacts are legal under the law, consumers…
Credit repair companies often claim they can give you a new, positive credit history no matter your financial situation. Before you sign up for credit repair service, weigh their claims against advice…
Dealing with debt collectors can be one of the most frustrating and stressful experiences of your life. Although it is never a good idea to handle a situation such as this by ignoring collection…
Microsoft may have made mistakes and used poor judgment regarding its Vista product, but that is for a judge to decide. In the meantime, joining a class action lawsuit against Microsoft may be the…
Consumers' ideal debt range is linked to their income, current amount of debt, and future plans, which may include a home purchase. People have to determine for themselves whether they're carrying too…
Most rights available to Illinois consumers come from federal legislation, including the right to dispute a debt and thus freeze collection activities until the debt is proven. Specific Illinois rules…
Debt collectors, or collection agencies, use every legal means available to collect past due debts. While collection agencies have the legal right to pursue payment of debts, many of these companies…
There is a huge industry with billions and billions of dollars behind it trying to sell you debt. Between credit card issuers, car salesmen, appliance loans and payday loan companies, consumers are…
Debt collectors contact you because they believe that you owe a company they represent a debt, usually one that is several months behind in payments. The best way to defend yourself against debt…
A foreclosure occurs when the lender takes possession of a piece of property, usually due to the borrower's lack of payment on the corresponding note. If you are in foreclosure or anticipating one,…
If debts are not paid in a certain amount of time, debt collectors have the right to contact the debtor and take legal action to collect the debt. However, debtors have rights, too. Debt collectors…
Consumer debt generally is defined as the debt resulting from day-to-day living and household expenditures. It includes credit-card purchases, payday loans and car loans. Because other types of debt…
Californians who are being contacted by debt collectors may think they're defenseless against collection companies, especially if they're deep in debt. However, debtors do have the right to limit…
Consumer debt, another name for personal or individual debt, has its advantages and disadvantages. While some debt is considered good, in other cases debt can lead a consumer to experience a number of…
The overall health of the economy depends on many factors. These include government spending, inflation, interest rates and export levels. Consumer spending and borrowing trends are also among the…
When a business takes on a large amount of debt and becomes delinquent in its repayment, creditors will often file suit in court seeking repayment. While the creditor will usually seek payment from…
It would be nice to wave a wand and magically wipe out your debts. Unfortunately, there's no easy fix for outstanding balances --- if you want to make your debts vanish, you have to work hard and make…
By understanding the finer points of consumer protection law, you can turn the tables on debt collectors in court and fight to have an incorrect or incomplete debt discharged. Consumers fighting a…
You may possess at least one credit card, and having it is useful in an emergency. In fact, you have to use credit in order to build credit history. However, sometimes having a credit card becomes…
Debt collectors are a tenacious lot. Most debt collectors are hired not according to a flat fee, but on commission: for every dollar that the debt collector collects for his client, the debt collector…
People usually consider extensive personal debt to be a financial problem. In fact, while the primary effect of personal debt is financial, its side effects are equally distressing. Often, the…
Having too much credit card debt can induce stress and cause sleepless nights. But there are plenty of fast ways to get rid of debt and improve your credit rating. A good debt elimination strategy…
Consumer debt from credit cards, installment loans and other types of financing can take a large percentage of your income each month. And if you owe a considerable sum on credit cards, the…
GDP stands for gross domestic product, which is the value all goods and services produced in a certain period, such as a year, in the United States or another country. Consumer debt is the amount of…
Credit can be a valuable tool, even though it means going into debt. For businesses, it means having the resources to take advantage of opportunities in order to create income. Consumer credit is more…
If you feel your consumer debt is getting out of hand, it may be helpful to realize you have options for assistance. When you feel overwhelmed with your debt and are unsure of what steps to take to…
If you've fallen behind on your consumer debt payments, there is a possibility that a creditor may sue to recoup the money they are owed. Whether or not a creditor will sue depends on a number of…
Consumer debt is the debt we pile up from buying stuff. This does not usually include things such as mortgages and other necessary bills that are reasonable. However, lowering other bills helps…
Consumer debt happens for a variety of reasons. It could happen because of poor money management, job losses, health crises or other causes. Consumer debt can devastate families and ruin chances of…
Millions of people in the United States are in debt. Much of the debt is caused by car or home obligations, but consumer debt also includes bank loans and credit cards.
There are four methods to settling your unsecured debt: pay it off completely, obtain help from a debt settlement company or credit counseling agency, declare bankruptcy, or try to settle the debts on…
Consumer debt is a common way in which individuals pay for aspects of their life. This includes personal loans, installment plans, credit cards, etc. Most types of consumer debt can be devastating to…
During difficult financial times, when you're out of work or behind on your bills, it pays to know your legal rights when it comes to consumer debt. Becoming familiar with the regulations set by the…
Consumer debt has a variety of forms. It can be defined as debt accumulated due to personal consumption, or debt accumulated due to family and other household matters. If too much consumer debt…
The Federal Reserve noted that Americans carried $1.97 trillion in debt in 2003, including credit cards, mortgages and other lending tools. Americans have been mired in debt troubles since the 1990s,…
The interest rates charged on credit card balances and other debts can contribute to the amount of debt you have. Learn how to lower your interest rates using balance transfers, debt consolidation and…