Collections

How Medical Debt Does and Does Not Impact Your Credit Report or Score

For many people, the announcement last year that the three major credit reporting agencies would remove paid medical debts from credit reports was a welcome relief. Medical bills and the confusion those bills and insurance cause, has led to many people owing debts they never planned for. Here is an update on the changes to credit reports, credit scores, and how to manage medical bills.

Bad News for FFEL Student Loan Borrowers

The U.S. Department of Education's decision to reverse it's rule on the addition of collection fees to student loans may cost borrowers thousands of dollars.

The Right Way to Build Your Credit

If you follow a few sure-fire steps, you can build your credit enough to buy your own house or your own car. Here are five steps to take to get your credit where it needs to be.

Past Due on Student Loans - Fix it Now

As it is with everything in life, once you fall behind on student loans, catching up can feel impossible. Here is how to do it.

American Financial Solutions Launches Student Loan Counseling Program

American Financial Solutions (AFS) is pleased to announce the launch of their student loan counseling program. This service will help deliver relief to borrowers in Washington State and across the nation, who have been struggling to repay the money they borrowed to finance a college education.

CFPB Issues Statement On Penalties Against Two Debt Collection Agencies

Two of the largest collections agencies receive multi-million dollar penalties due to their use of abusive, unfair and deceptive practices to collect debts.

Why a Debt Validation Letter May be Exactly What Debt Collectors Want

The idea is great, ask a debt collector for proof you owe a debt and if they cannot produce it, you do not have to pay. However, the reality of using this tactic may yield very different results.

Time and Debt Repayment Still the Best Strategy for Increasing a Credit Score

Some of you might be rejoicing a bit because of news that the chief credit scoring outfit, FICO, is changing its rules about how it scores debtors. The main change is that the new system will draw a distinction between medical debt and regular debt. The other big change is the new system will disregard medical collection accounts if they are paid or settled.

Collection Agencies, Courts and Your Rights

Some collection companies may be more effective simply by using the letterhead from local courts. Learn what you can do to protect your rights with debt collectors.

Know Your Options Before Addressing Financial Problems