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You’re in Debt: 9 Terms to Know

The Kaplan Group

You may also be responsible for paying the costs of the creditor hiring a collection agency or legal costs. Credit Counselor. A credit counselor is certified and trained in consumer credit, money and debt management, and budgeting. These provisions mean that you may owe interest on unpaid debts. Garnishment.

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10 Common Questions About Bankruptcy

Debt Free Colorado

Are My Creditors capable of appealing My Bankruptcy? Chapter 7 bankruptcy Given its straightforward and simple nature, Chapter 7 is sometimes referred to as straight bankruptcy since it involves selling the debtor’s assets, and splitting the money among creditors. What Can’t Bankruptcy Do? What Debts are Discharged in Bankruptcy?

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Dos & Don’ts of a Payment Plan

The Kaplan Group

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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There are 7,060 collections agencies in the U.S.—here’s what to do you if your credit card debt is sent to one

Collection Industry News

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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5 Best Credit Repair Companies – Updated April 2022

Better Credit Blog

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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Amid coronavirus economic recovery, Ohio can help prevent a consumer debt crisis

Collection Industry News

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. In 2008, the federal government funded programs to help consumers restructure debt repayments with sustainable long-term modifications.