Solve Your Money Troubles: Get Debt Collectors Off Your Back & Regain Financial Freedom

Product Description
Everything you need to get out of debt and repair your credit.

Feeling overwhelmed by your debts? If you’re ready to regain your financial freedom, this book is exactly what you need! Step by step, Solve Your Money Troubles shows you how to:

prioritize debts
create a budget
negotiate with creditors
stop collector harassment
challenge wage attachments
contend with repossessions
respond to creditor lawsuits
qualify for a mortgage
rebuild credit

To make the process easierSolve Your Money Troubles also includes sample letters to creditors, as well as worksheets and charts to calculate y… More >>

Solve Your Money Troubles: Get Debt Collectors Off Your Back & Regain Financial Freedom

Debt consolidation can be beneficial for those who would like to create a new loan from all of the debt they have accrued, but contacting each collector first to work out a payment plan can be advantageous. Understand how debt consolidation works withadvice from a licensed financial planner in this free video on personal finance. Expert: William Rae Contact: www.hbwfl.com Bio: William Rae has been licensed in the insurance and financial fields for over 30 years. Filmmaker: Christopher Rokosz

It starts with a letter. Then another, more aggressive letter. Then come the phone calls, and even threats of an unsavory report to credit bureaus. There could even be a potential lawsuit.

Collection agencies are often hired by creditors to retrive debt. Because many of these companies work for commission, the collectors are more likely to go after the money owed with gusto. Although this may all seem intimidating, it is important for you to know your rights.

Collection agencies do have the right to report your debt to credit bureaus. Paying off the debt will not result in it being removed from your credit reports, it will be marked off as “paid.” They also can request a debtors credit report to analyze the person’s financial situation, or to get an updated address and phone number. And, although collection agencies do not like to send many accounts back, sometimes they will refer their account back to the creditor and recommend filing a law suit.

There are rules and regulations that collection agencies have to follow. Mail must be sent out in ambiguous envelops that do not reveal that any type of debt is owed. When calling on the phone, a collector may not disclose the reason for the call. For example, if a collector reaches an answering machine, they cannot state the purpose of their call, all they can do is leave their name and a number where they can be reached.

Although collection agencies are permitted to contact the debtor’s at their place of employment, they definitely cannot attempt to get a debtor dismissed from their job. No kind of information concerning the debt may be made public, although collection agencies can communicate openly with credit bureaus. Even though many people believe that a collection agency could legally seize a debtor’s bank account, paycheck and assets, the company cannot unless their has been a successful law suit ordering them to do so. Under no circumstances can a collection agency threaten a debtor with violence.

Despite the fact that some collections agencies may attempt to practice illegal tactics to get money, there are also a large number of reputable ones. With important issues like debt, it is always a priority to know your rights.

For more information, stop by Rapid Recovery Solution where more information can be found.

Dumping Debt: Breaking the Chains of Debt

There are many ways to reduce debt. Learn strategies to reduce debt from a registered financial consultant (RFC) in this free personal finance video. Expert: Patrick Munro Contact: www.northstarnavigator.com Bio: Patrick Munro is a registered financial consultant (RFC) with outstanding sales volume of progressive financial products and solutions to the senior and boomer marketplace. Filmmaker: Reel Media LLC