Not exact matches
You don't have to be a lawyer to challenge your alleged
debt collection companies, you just have to
know about the law and what your legal rights allow.
Numerous articles have been written on this Forum
about debt collection companies who buy «zombie
debt,» i.e.
debt that is
no longer owed due to the expiration of the statute of limitations.
It is particularly difficult to get to the bottom of the
collections issue because we
know so little
about how these
debt collectors get paid and how much they are profiting from financially distressed borrowers.
If you are living a life filled with
collection phone calls, threatening letters in the mailbox and sleepless nights, you need to
know about the best
debt consolidation companies and how we help with
debt reduction and
debt consolidation.
If a
debt collector does not
know whether the
debt submitted for
collection is time barred, it would be easy to include general language
about that possibility.
As of Dec. 2016, data from the Consumer Financial Protection Bureau (CFPB) found that 39 % of consumers complaining
about debt collection practices said they were being contacted
about debts they
no longer owed.
See related: 9 tips for jobseekers with bad credit, 10 things you must
know about credit reports and scores, Video: The basics of
debt settlement, Dealing with tactics of bad
debt collectors, 5 federal laws that protect cardholders, Statutes of limitations on credit card
debt across the nation, Tips for dealing wtih
collection agencies, Attention: Terms are changing