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Collection Letters and Credit Repair

So you got a collection letter. It can be tempting to stick it in the drawer and forget about it, or even throw it in the trash without taking a peek. But to ignore that collection letter can cause you to miss several potential credit repair opportunities than just might protect your credit, save your money, and preserve your peace of mind.

A Strange Statistic

Collectors, by law, must send you a collection letter prior to reporting the account to the credit bureaus. A strange fact, but a huge percentage of active collections are for complete erroneous debts; debts that belong to another person, have already been paid by you or an insurance company, and debts beyond both the statute of limitation and the reporting period limit. Read more…

We recently came across a website that works with members of the United Kingdom who have taken out ppi and need to claim for compensation because they have been mis sold a policy. PPI is payment protection insurance; a type of insurance policy that protects the policy holder if they have taken out a credit card or a loan in the last couple of years and become unable to work because of ill health.

Unfortunately, it is not uncommon for payment protection insurance to be sold wrongly. The main cause of this is policies being sold to people when the actual policy is not suitable for them at all. Read more…

Thanks to the Affordable Care Act of 2010, there’s good news for college-bound students and their parents. Federal loans will no longer be administered by banks, as of July 2010. The government will distribute financial aid directly, and borrowers can expect to save more money while preserving their credit scores, according to the Chicago Sun-Times.

“Those tuition bills will come with regularity,” wrote Sun-Times columnist Terry Savage. “Parents need to look beyond the first check they must write and make a plan for the entire four years.”

Of the changes made, the Chicago Tribune notes that the annual interest rate of the federal Stafford loan has dropped from 5.6 to 4.5 percent. The gover

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Once you’ve made the decision to use debt settlement to clear your debts, you must next search for a knowledgeable and experienced debt settlement attorney.  Sharing your financial information with someone is intimidating and with all of the debt settlement services available, choosing one is difficult.  But with a little bit of research and time, you can be sure to find a good debt settlement attorney to represent you in your debt settlement negotiations.

As with any other type of service, a good recommendation from somebody you trust, like a family member or friend, can be a great place to start when looking for a debt settlement attorney.  If somebody you know and trust likes a debt settlement attorney’s services, it is likely you will too. Other

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