If you, like many Americans, have past due debts, your creditors may try to collect the money you owe on their own or hand the debt over to a debt collector or debt collection agency. While instances of collector harassment continue to take place even now, the Fair...
Debt Collection
A Guide to Dealing With Debt Collection Summons
Debt Collection, Debt Relief, Debt Validation
In some sense, a debt lawsuit gets underway once you receive a summons from a court. This basically notifies you that a creditor is suing you, and also informs you of the reason. While dealing with debt collection summons might seem daunting to most, know that there...
What AARP Says About the Effect of Debt on Retirement Security
Debt can be good or bad. The former is the case when you have a grip on your debt and manage to reduce it over time. However, there is no dearth of instances when debt continues to build with age, in which case the consequences can be none too pleasing. The negative...
Where Does Debt Relief Stand In the Ongoing COVID-19 Crisis?
The COVID-19 pandemic resulted in the country’s unemployment rate to rise to 14.7% in April last year. It dropped to 6% by June 2021, but this figure still remains noticeably higher than the pre-pandemic 3.5%. Fortunately, federal and state governments as well as...
All You Need to Know About Bankruptcy and Foreclosure
Bankruptcy, Debt Collection, Foreclosure
Foreclosures and bankruptcies typically take place independently. While the former refers to the mechanism that lenders use to recover their dues upon default, the latter gives debtors means to eliminate their debts. In some instances, filing for bankruptcy can help...
Here’s What to Expect if You are Sued for Debt
Debt Collection, Debt Validation
Debt-related cases have grown to dominate the civil court's landscape over the last few decades. According to data released by Pew Charitable Trusts, the number of debt collection lawsuits increased from around 1.7 million in 1993 to around 4 million 20 years later....
Why Is There a Rise in Bankruptcy Among Baby Boomers?
Baby Boomers, Bankruptcy, Debt Collection, Debt Relief
The number of baby boomers who file for bankruptcy has increased significantly in the last three decades. Only around 2% of all elders in the U.S. filed for bankruptcy in 1991, and the number stands at around 12% now. While bankruptcy can give people a fresh start if...
Can Baby Boomers Get Out of Debt Faster?
Baby Boomers, Bankruptcy, Debt Collection
Baby boomers seem to be caught in a particular predicament. While they have relatively good credit scores, they are also burdened with considerable debt. If you find yourself in this situation and are nearing retirement, it is important that you take a close look at...
What Borrowers Need to Know About the FDCPA
If you default on any kind of personal debt, the original creditor can hire a collection agency or even sell your debt to a third-party. If any such collection agency or third-party collector has contacted you to collect a debt, it is important to understand the...
Dealing With Debt During the COVID-19 Pandemic
Dealing with mounting debt is challenging, and the COVID-19 pandemic has made matters even worse for many Americans. Fortunately, state and federal governments are providing resources and relief to those affected in different ways. While you might benefit through such...
Top Debt Collection Red Flags You Need to Avoid
It’s fairly easy to identify a scamster who is trying to collect a debt you’re sure you don’t owe. However, if you have debt or more that is past due, discerning genuine debt collectors from scammers might not be simple. This is because scam debt collectors are known...
Latest Posts
All You Need to Know About the New Student Loan Forgiveness Plan
On August 24, 2022, President Biden passed an executive order that remains subject to debate. He announced that millions of people would benefit through federal student loan waivers of up to $20,000. However, you need to meet a few criteria to qualify. For instance,...
What Debt Collectors Can Do Legally and What They Can’t
If you, like many Americans, have past due debts, your creditors may try to collect the money you owe on their own or hand the debt over to a debt collector or debt collection agency. While instances of collector harassment continue to take place even now, the Fair...
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From debt resolution to foreclosure, civil issues, real estate and more the LPG team helps consumers and loves making a difference