You may be feeling the pinch of the credit crunch.  Going to the doctor may be more of a burden than ever before.  What happens if you can’t pay your medical bills.  Believe it or not most medical providers will work with you on payment.  Once you go into collections you position to negotiate gets even better.  From the medical providers point of view, they are already faced with millions of dollars in uncollected medical payments.  They will most likely be willing to take something rather than nothing.  If you are in collections I would save up and see if they will take a lump sum payment.

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When can a creditor call me? I think that most consumers believe that a collection agency cannot make calls to try and collect a debt on Sunday. A creditor is allowed to call you on Sunday. The provision that allows calls to be made on Sunday is spelled out in the Fair Debt Collections Practices Act.

Can a creditor call me on Sunday if the debt is with a collection agency?

If the debt is still with the original creditor they can definitely still call. Even if the debt is with a collection agency they can call from 8am to 9pm. If the collector calls outside of these times, they could be in violation of the fdcpa or Fair Debt Collection Act.

Can I negotiate old hospital bills? You can negotiate old medical bills. You can typically settle old doctor bills for about 40-60 cents on the dollar. The hospital or medical provider will usually always be happy to work something out with you. They usually have millions of dollars in bills that go uncollected every year. I would start out low in your first offer. See if they will take 25 cents on the dollar to start and then see where you end up. Continue Reading »

Do not let a debt mediation company keep your funds in their house account. Use a debt negotiation company that insists on setting up a special trust account for you. When you give someone your money it magically becomes their money. Who would you rather have hold your money during your debt negotiation program. If a debt settlement company wants to hold your money and they are not a law firm, they are probably breaking the law. The law is very specific about how money can be held. Most states have laws about debt collection and their are laws about how money can be held. Your best bet is to use a debt settlement firm that has you set up your own bank account. You control it and if you decide that you do not want to do the program anymore, there is no question about getting your money back.

Should I refi to pay off my debt? Being in a financial jam can be a frustrating as well as an unsettling experience. Getting harassed by bill collectors and creditors day and night can be annoying as well as emotionally draining. But you do have options that you can take to take care of the situation. The two that we are going to discuss in the article are refinancing your home to pay off the debt or doing a debt settlement program. Continue Reading »

TASC stands for The Association of Debt Settlement Companies. The goal of TASC is to promote solid practices in the debt settlement industry and protect the interest of consumers and debtors. TASC also lobbies at the federal level on behalf of debt settlement companies. Continue Reading »

What does USOBA stand for? It is the United States Organizations for Bankruptcy Alternatives. USOBA was founded by the debt negotiation industry for representation for the debt negotiation and debt settlement outside of the consumer credit counseling and bankruptcy industry. The focus of USOBA is to cause advocacy and agenda for the debt negotiation and debt settlement industry. Continue Reading »

Tips on Negotiating your Debt with Bill Collectors and Collection Agencies

Many Americans now feel that their debts are spiraling out of control and there is nothing they can do but have an attorney file for a bankruptcy. Most debtors believe all of those freighting stories told by the bill collectors of the impending doom that faces them. The biggest scare tactic used is utterance of a wage garnishment and seizure of property. The collection agencies usually fail to point out that they will first need to go to court and get a judgment to be able to do anything to you. I recommend that bankruptcy would be your last option in trying to get out of debt. Most debtors jump to quick to do a bankruptcy before examining all the possibilities that exist to resolve the debt. Usually this option is exercised out of fear and wanting it to go away quickly. I hope that this information will educate you in this area of the unknown for you. Continue Reading »

With the onset of the credit crunch, millions of people saw their mortgage rates adjust and their mortgage payments go through the roof. Property foreclosures have hit new highs across the country. The credit crisis caused other impacts in the financial markets. As the economy began to slow down, many consumers began to run into problems paying their credit card debt Obligations. Defaults on credit card payments have reached record highs according to mbna. Unfortunately once you are in a financial crisis there are not too many great options in terms of getting out of debt. One option is consumer credit counseling which will lump all of your bills into a single payment and get your interest rates and payments down. Many people would like to go this route but they just aren’t able to make the new payments. The only other option would be to file for a Bankruptcy. Continue Reading »

Debt Settlement vs. a Home Equity Line to pay of your Credit Card debt

Getting yourself into debt can be a scary as well as a frustrating experience. Getting hounded by debt collectors night and day can be exhausting as well as emotionally draining. But there are options that you can take to take care of the problem quickly. The two that we are going to discuss in the article are refinancing your home to pay off the debt or doing a debt negotiation program. Continue Reading »

Debt Settlement tips from the experts – Debt Negotiation

Most consumers have questions about debt settlement and debt negotiation programs for their past due accounts and collections. This article is a commentary about the debt settlement industry. I think the first thing to talk about is what debt settlement and debt negotiation are not. Debt Negotiation is not about avoiding paying your bills. This is just a wishful thinking. If you borrow money from someone, they are going to want it back. This is only reasonable. If you borrowed money from someone, they can come after it for you. Some will come after you very aggressively. Creditors do have rights to contact you for repayment. Debt Settlement is not Bankruptcy. Continue Reading »

Can I negotiate my bills myself? Debt Negotiation, Debt Mediation or Debt Settlement is something that you can probably do on your own if you have a little education behind you. The first thing I would get familiar with is the Fair Debt Collections Practices Act of 1977. If you have thick skin for dealing with nasty and abusive creditors calling you all the time I would say do it. If you do not want the hassle you may want to hire a third party debt settlement company to handle your old collections. Continue Reading »

10 Tips on how to do your own Debt Negotiation and work with collection agencies, bill collectors and creditors

If you are going to do your own debt negotiation you are probably going to go up against a tough and aggressive pro. By following these steps you can take the upper hand and save yourself thousands by doing a debt settlement.

I think the first step in the game is to know what the rules of debt collection are. The more information you know about debt collection practices, the less harassment you will get. If a debt collector knows that you know the game, they probably wont mess with you as much. You need to become very familiar with the Fair Debt Collection Practices Act of 1977. You can also get a free booklet for the rules of debt collecting form the National Consumer Law Center. Continue Reading »