RACIST DEBT COLLECTOR GETS NAILED FOR $1.5 MILLION JUDGEMENT
A Pennsylvania-based debt-collection company has been hit with a $1.5 million judgment in a Texas court for repeatedly leaving vile voice messages over an alleged $200 debt.
Advanced Call Center Technologies (ACT) barraged Allen Jones, of Dallas, with a series of harassing and racially charged phone calls.
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TOTAL U.S. BANKRUPTCIES IN THE FIRST HALF OF 2010 UP 14 PERCENT OVER 2009
The total number of U.S. bankruptcies filed during the first six months of 2010 increased 14 percent over the same six-month period in 2009, according to data released today by the Administrative Office of the U.S. Courts. Total filings reached 810,209 during the first half of the calendar year of 2010 (January 1-June 30), compared to 711,550 cases filed over the same period in 2009.
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GOOD DEBT VS. BAD DEBT
The amount of personal debt in this country is ever-increasing, and a large part of the reason is that credit has never been easier to get. Whereas credit card issuers previously looked for customers who could repay, today card issuers relish the chance to reel in those who'll continuously charge beyond their means at 18 percent or 20 percent.
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5 EASY STEPS TO DO-IT-YOURSELF CREDIT REPAIR
Blotches on your credit report cost you. But, don't despair. It's never too late to become creditworthy -- just get started, and remember that it won't happen overnight.
Here are 5 steps for improving your credit rating:
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COLLECTION AGENCIES TURN TO SOCIAL NETWORKING SITES
If you've got debts and haven't paid them, you may want to be careful about your next Facebook status update.
Just like some employers who use Facebook and MySpace to vet job candidates, debt collectors are using these social networking sites, too.
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4 THINGS THAT ARE MORE EXPENSIVE THAN YOU THINK
Have you ever given much thought to the real cost of an item, compared to the listed retail price? A perfect example is if you chose to buy a new computer on credit. The real cost of the computer would be the purchase price and the interest that you have to pay. The true cost of an item can often go unnoticed and consumers end up paying much more than they bargained for. Here are four things that are more expensive than you might think.
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5 STEPS TO DISPUTE A DEBT THAT'S NOT YOURS
A debt collector mixes you up with a deadbeat: at best, it's annoying, at worst, it can hurt your credit.
A mix-up can happen easily: An employee at a debt collection company makes a typo or tracks down a debtor whose name is similar to yours, and suddenly a collector is harassing you for a debt that's not yours. With thousands of debt collection companies operating across the country, and debt buyers buying up bundles of old accounts at cheap rates, these mix-ups are fairly common.
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SURE WAYS TO PROTECT YOUR CREDIT CARDS WHEN TRAVELING
Vacation should be about one thing: relaxing. If your credit cards are stolen, though, you'll spend more time in your hotel room undoing fraud than lying on the beach sipping a drink decorated with a tiny umbrella.
Lost or stolen wallets, checkbooks, credit and debit cards make up 43 percent of all fraud cases where the person knows how their information was stolen, according to Javelin Strategy & Research's 2009 identity fraud report.
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KNOW THE INSIGHTS FOR THE NEW CREDIT CARD LAW
Here are the insights for navigating key loopholes and protections in the new law.
1. Beware of the advance notification exceptions.
On Aug. 20, 2009, a provision that required 45 days' advance notification of "significant" terms changes took effect. It applies to fees and finance charges, as well as some rate increases. Loopholes in the law leave consumers unprotected in some situations.
For instance, the law doesn't require 45 days' advance notification for credit limit decreases.
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6 BIGGEST MISTAKES HOMEBUYERS MAKE
Buying a home is the biggest purchase most people will ever make, yet many go into it blind. Here are the 6 most common -- and costly-- mistakes homebuyers make.
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LEARNING HOW TO FIGHT THE COLLECTOR
Among debt collectors, Steven Katz is known as a “credit terrorist.” For years, he has run what he calls the Steven Katz School of Bill Collector Education, otherwise known as the “credit terrorist training camp.”
Mr. Katz, a 58-year-old accountant in suburban Tucson, spends his free time schooling debtors on the finer points of consumer protection law to help them turn the tables on debt collectors. On occasion, he thumbs his own nose at them too.
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THE FICO 5: COMPONENTS THAT MAKE UP A FICO CREDIT SCORE
In the land of credit scores, FICO is king. The bulk of banks in the United States use FICO scores to decide whether to offer credit to potential borrowers and at what interest rate. FICO has a major global presence, as well: According to the company's testimony before a House Financial Services Committee, FICO scores are used in about 10 billion decisions worldwide each year.
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WOMAN SUES DEBT COLLECTOR, WINS $8.1 MILLION
At courthouses across the United States, it has become increasingly common during the economic downturn for lawsuits to be filed against consumers to collect old debts. Lawyers who specialize in the practice are filing thousands of suits on behalf of large firms that have acquired debts from other companies. Although most people don't fight the suits and lose them by default, a Dallas woman bucked the trend last October.
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10 PLACES NOT TO USE YOUR DEBIT CARD
"It's important that consumers understand the difference between a debit card and a credit card," says John Breyault, director of the Fraud Center for the National Consumers League, a Washington, D.C.- based advocacy group. "There's a difference in how the transactions are processed and the protections offered to consumers when they use them."
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TIPS TO PREVENT MEDICAL BILLS FROM GETTING OVERDUE
Got a medical bill lying around in a kitchen drawer or office file? Quick, go get it and then make some effort to pay or settle it, especially if the date on the bill goes back beyond 30 days. Without some attempt to resolve the bill, it will damage your credit rating, often badly. And that poor credit rating can mean higher rates for credit cards, cars and mortgages.
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