If you have student loans that have been difficult to pay, it may be tempting to accept an offer from a for-profit company promising to help reduce or even erase your debt. But according to an investigation by NerdWallet, many of these companies engage in questionable practices that may make matters worse for you.
Floridians who are in tough financial straits and are not interested in filing for bankruptcy might think they are at the mercy of credit card companies and debt collectors who will simply not leave them alone. They call constantly and engage in creditor harassment, allude to what can happen to a person's credit and property if they do not pay off their credit cards and generally make their lives difficult. What debtors might not be aware of is that they have certain protections available to them and can get the creditors to back off if they hire a qualified debt lawyer who understands how to handle credit card debt.
When confronted by financial challenges, many Floridians are left unaware that there are some debts that they are no longer obligated to pay. This will not stop certain unscrupulous debt collectors from trying to get something from the debtor, but time-barred debts have a statute of limitations. It is against the law for a creditor or debt collector to sue a debtor for failing to pay time-barred debts.
Pensacola residents who are confronted with financial challenges and are the subject of constant various forms of contact from debt collectors might not realize that there are limits to what these collectors can legally do. The Fair Debt Collection Practices Act (FDCPA) has rules against unfair practices. There are certain tactics that the debt collectors are not allowed to use to try and collect on a debt. These are known as unfair or unconscionable means. Knowing what they cannot do is vital to being fully protected under the law.
It is easy to get in over your head with credit cards. You have good credit habits, paying your bills every month. But something bad happens, that throws your schedule off.
For Floridians who have overwhelming credit card debt and are being contacted by creditors over delinquent payments, the worries can be a constant source of fear. While there are protections for debtors that are specifically designed to shield them from creditor harassment, that does not means that the calls over missed payments will stop. In some instances, the debt collectors are not representatives of the creditors, but are simply scammers trying to get money from distressed people. In others, the creditors are engaging in various behaviors that are clear violations of the law or stretch the rules and go over the line.