Filed under Debt Settlement
By DAVID STREITFELD
The banks were bailed out last fall, the automobile companies last winter. For Edward McClelland, a writer in Chicago, deliverance finally arrived a few days ago.
Mr. McClelland’s credit card company was calling yet again, wondering when it could expect the next installment on his delinquent account. He proposed paying half of his $5,486 balance and calling the matter even.
It’s a deal, the account representative immediately said, not even bothering to check with a supervisor.
As they confront unprecedented numbers of troubled customers, credit card companies are increasingly doing something they have historically scorned: settling delinquent accounts for substantially less than the amount owed. Read More »
Filed under Debt Collectors
By DAVID B. CARUSO
NEW YORK (AP) — State authorities have shut down a collection agency they said terrified people across the country into paying debts by telling them if they didn’t send money immediately, they would be thrown in jail.
Investigators said collectors working for the Buffalo company routinely posed as law enforcement officials in an attempt to trick people into thinking they were about to be arrested.
During one call recorded by a debtor, a man who vaguely identified himself as an investigator from “the warrant division” said one victim was about to be “picked up.”
“Make sure you have somewhere for your kids to go. Lock up your house. Get some clean clothes, because you’re not coming home anytime soon,” the caller said. Read More »
Filed under Fair Debt Collection Act
Fair Debt Collection Act
Fair Debt Collection Act
THE FAIR DEBT COLLECTION PRACTICES ACT
As amended by Public Law 104-208, 110 Stat. 3009 (Sept. 30, 1996)
To amend the Consumer Credit Protection Act to prohibit abusive practices by debt collectors.
Be it enacted by the Senate and House Read More »
Filed under Debt Consolidation
Why should I consolidate my unsecured credit card debt?
One of the biggest repercussions of financial distress is the affect it has on your credit score. This is not something to shrug off. Just as the name implies, your credit score represents your “creditworthiness,” your ability to repay debts such as home loans, car loans, or credit cards. Your credit score follows you like a shadow and affects your future ability to acquire credit.
The best overall solution in terms of protecting your credit score is through Christian credit card debt consolidation. Read More »
Filed under Christian Ideals
Lending To Other Christians
Lending To Other Christians
With regard to lending to Christians, God’s Word directs us to lend to anyone to whom God directs, interest free, expecting never to be repaid.
Christians and lending money
There is no record of a society that operated for any period of time without borrowing and lending. Our society is a very rare instance Read More »
