Tag Archive | "Fair Debt Collection Practices Act"

Four Scams Aimed at You If You Have Bad Credit

Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

Scammers are every where on internet and their main goal is to trap you to take as money away from you as they can. You can meet such scammers anytime while trying to deal with your troubled financial situation. This article contains information about four most common scams which might catch you anytime. These scams are specially designed for people having bad credit.

bad credit scams

Scam One – Fee is required

These kinds of scams offer you a loan, but they will ask you to pay them a fee in order to get money from them. At this moment, you should bear in mind the important fact about the normal payday loan or any other short-term loan. For such loans, you get the amount of loan first and then you pay off the lending company in return. What scammers do is actually they collect money on the name of fee and disappear without giving you any loan. Other scammers give you the loan, but they take money from you in terms of application charges, form processing fee or any other unnecessary fee. These scammers will charge you extra and unnecessary fee if you have bad credit, but this fee is charged after giving the loan not before it.

How to avoid this scam? The simple solution to avoid this type of scam is that don’t pay any fee in advance. Plus, if the company asks you to call at number starting from 900, then avoid it. Find a lender that doesn’t charge you any fee before giving you the loan.

Read the full story

Stop Wrong Number Collection Calls

Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

People are always feeling disturbance from debt collector calls if they are actually be indebted. However, sometime debt collector is merely harassing a person, or ask about any other person like former room-mate or a person not knowing you. In this case, these calls might consider as wrong number calls. Moreover, there might be some other calls for which a person not interested to attend these.

Wrong Number Calls

Wrong Number Calls

Mostly, when people received calls from an unknown wrong number, just reply and tell not to call again is considered as enough. However, this is not the case every time that work accordingly. Every debt collector suggested that to harassing a person for collection of debt is usually wastage of time.

Auto Dialing Operators

Some bill collection companies mostly have automatic computerized dialing system. Whenever, a phone number is entered in the computer due to someone’s debt, it will receive the calls again and again from the auto dialer. This might happens if phone number was remained in the use of another person or wrongfully entered in the computer. There are many options available to discontinue these types of calls.

Checking of Credit Reports

People should check their credit reports from the available sources and make sure that there no wrongful debt has been reported. If there is any error found in it then must report to the credit bureau for its correction.

Read the full story

Your Legal Rights Against Payday Loan Collectors

Tags: , , , , , , , , , , , , , , , , , , , , , , , , , , , ,

You need money at an odd hour. You walk into a nearby Payday Loan Center. You show you ID, write a check. You get the cash. Payday loans are very simple to get. Its all about convenience and hassle free life. If all goes well, you pay back the cash to get you check back or your check is cleared directly from your account.

If you don’t show up on due date, the check is sent to bank for clearance. If the check is bounced, Payday loan collection process begins. You start receiving phone calls and letters etc. payday loan laws

No matter what the debt collector on phone says, you must remember one thing during the whole process.

“Payday loan is a civil debt. It is not a case of Check Fraud.”

Following are some of your rights during the collection process. We have compiled this list based on Fair Debt Collection Practices Act.

Read the full story


subscribe to our blog


April 2012
« Mar    
2 3 4 5 6 7 8
9 10 11 12 13 14 15
16 17 18 19 20 21 22
23 24 25 26 27 28 29