Collections

NFCC Poll Reveals Majority of Consumers Admit Financial Problems are Self-Inflicted

  Washington, DC – According to the National Foundation for Credit Counseling (NFCC) December poll, when asked if their personal financial problems were self-inflicted or the result of events beyond their control, the overwhelming majority of respondents, 63 percent, admitted responsibility for their financial woes. “The poll results are encouraging, as...

Posted on December 23, 2016

Thinking of Settling a Debt, It May be More Damaging Than You Think

I received a call last week from a woman in a panic because she had settled a broken lease and was now being sued for the remainder of the debt. With many people feeling the financial pinch now, it is easy for to be convinced to settle debts.  After...

Posted on December 23, 2016

The Supreme Court Health Care Decision: What It Means to You

From Stacy Johnson, our Partner at MoneyTalksNews The media is talking about which politicians "won" and "lost" when the Supreme Court ruled on health care reform. But here's what really matters: how it all affects you. If you thought healthcare reform was complicated when it passed Congress in 2010, you were...

Posted on December 23, 2016

Reporting Time on Your Credit Report; Debt, Collections and Judgments

There is often confusion about whether paying on old debts will keep them on your credit report for a longer period of time. Concern about doing further damage to your credit report can prevent people from paying off debts and moving forward financially. There are two time frames to...

Posted on December 23, 2016

Paying Off Old Debt

Very often consumers ask me if it makes sense to pay off their old collection account debts or should their focus be on establishing new, positive credit information on their credit report. While the answer is never straightforward, here are some things to consider: How old is the debt? Collection...

Posted on December 23, 2016

Should I Contact My Creditors?

Q: Recently, I received letters from my credit card companies stating this is my last chance to work with them before being written off as bad debt. At this point, I still do not have enough income to pay them even the slightest amount. Should I contact the credit...

Posted on December 23, 2016