The Kaplan Group

JUNE 23, 2020

Normally on this blog we give advice to our clients and creditors who are owed money. Here are some tips for both debtors and creditors considering a payment plan as a way to resolve an issue. Your creditors do not want you to go out of business or declare bankruptcy. Both of these are in the creditor’s best interest and yours.

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Sawin & Shea

JANUARY 11, 2024

Medical bills, credit cards, payday loans, and struggling businesses – it can seem like the letters and calls from creditors will never stop. Qualified Instructors: Seek out courses that are led by certified credit counselors and financial educators, as this will translate to a more tailored and insightful course.

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Burt and Associates

SEPTEMBER 23, 2019

The creditor may either use in-house debt collectors or hires an outside debt collection agency. This debt collector then will seek out to collect the past-due debt on the creditor’s behalf. This occurs when a debt collection agency buys out a past-due debt from a creditor at a discounted rate. Debt collector buys a debt.

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Collection Industry News

DECEMBER 1, 2022

A collection agency is a company that is hired by lenders, creditors, medical providers and federal and local governments to get you to pay or make arrangements to pay what you owe them,” Eweka tells Select. Next, your creditor passes it to a third-party agency that’s separate from your card issuer, but contracted through them.

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Collection Industry News

DECEMBER 4, 2022

You can check your credit report weekly for free through the end of 2022. Consumers should familiarize themselves with their rights to better protect themselves from creditors, McClary said. Typically, those free reports are available once a year. Know your rights.

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Credit Corp

OCTOBER 25, 2023

Once you receive the funds, you’ll use the money to pay off your credit card debt. On the other hand, some lenders will directly pay creditors, which removes the hassle on your end. Pros You can get low interest rates if you have good credit. The lender may pay your creditors directly.

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Better Credit Blog

APRIL 6, 2022

We liken credit repair companies to a plumber: you can spend the time and effort into figuring out how to fix your leak yourself, but if you don’t want the hassle, a pro may be the best option. Legal experts at credit repair companies spend all day every day negotiating with creditors and seeking resolutions to mistakes.

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Collection Industry News

FEBRUARY 21, 2022

Credit counseling agencies offer free or low-cost debt relief services to consumers who are struggling to manage their finances. A credit counselor may help you by: Analyzing your income, expenses and outstanding debts to create a budget. Negotiating with creditors to lower your interest rates and waive fees.

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Better Credit Blog

APRIL 11, 2022

Debt is the amount of money you owe to a lender or creditor. Some examples of debt are mortgages, credit card dues, and personal loans. If your rate increases, your credit score will be negatively affected. When this happens, your credit score drops. Credit counselors often recommend debt management programs (DMPs).

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Credit Corp

MARCH 16, 2021

When you can’t control your debt spiral on your own, you should contact credit counseling agencies first. They help cash-strapped credit cardholders to eradicate debts and establish a stable financial life. Credit counseling agencies offer this plan in exchange for a fee. Credit counselors are working in the debt industry.

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Collection Industry News

AUGUST 25, 2020

Consumers are scrambling for relief from creditors. But as in the 2008 crisis, most creditors are ill-prepared for the dramatically increased demand for customer service. The government established a centralized response involving not-for-profit counselors and lenders to create a smooth system for consumers, and it worked.

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