The Truth of Credit

Lately, I have spoken with numerous debtors that are looking for ways to get out of the finanical rut they are in.. One of the options you have when you have relatively small debts between $2,000-$30,000 is the ability to refinance those debts in the form of an installment loan. Now, I know what you’re [...]

 
If you could have looked in a crystal ball three years ago when the new bankruptcy laws were passed you would have been able to foresee outrageous gas prices and the sub-prime mortgage disaster. However, hindsight is 20/20 as the saying goes and these new rules are here to stay. It’s no wonder bankruptcy filings by U.S. consumers [...]

Its funny almost every collector I have run into has their own philosophy when it comes to collections.  Some people believe you need to be a borderline “bulldog” to make money and other say that you catch more with “honey and than vinegar”. Here is my personal view and the best way I have heard it explained. [...]

Today, I was speaking to a recent immigrant to U.S. regarding one of his accounts. He was nervous that he would be thrown in jail if he did not pay his debt soon. As much as I could attempt to use that against him (kidding) I assured him there is no Debtor Prison here in the United States. That is unless you have don’t pay [...]

Recently, I have been reading some information around the Internet regarding collection accounts that have perked my interest. I have read on more than one site a expert stating that you should try to negotiate how the creditor will report your payments to the Credit Bureaus. This is a novel idea but not one that is all [...]