Ask Doctor Debt Aims To Teach The Public About Financial Literacy And Debt Collections

It is about time that someone stepped up in an effort to tutor the public on legal debt collection practices and general financial literacy. With a multitude of fake debt collectors throughout the United States preying on unwary consumers, Ask Doctor Debt serves to solve this ever growing situation by giving consumers an outlet in which to ask questions concerning their rights and any and all debt related questions.

How To Collect Debt

The main point is, the more time that passes between the time the payment was owed and the time the consumer is contacted, the less likely you are to packet any sort of payment. If you’re serious about making a turnout, there are three ways to handle collection on past debt; in house efforts, hiring a collection agency, or taking legal action.

What To Search For When Looking To Hire A Collection Agency

When scouting for a Business Collection agency, it is critical for businesses to find a collection agency that services their specific needs. Some corporation’s may rely on collection agencies more than others. For example, a freelance graphic designer may only need to use a Collection agency’s services once during his or her entire career. However, a larger company, such as a credit card company, may require the services of a Collection agency more repeatedly.

FDCPA FAQs And Answers

In order to skirmish the topics associated with harassing debt collectors and debt collection companies, the Fair Debt Collection Practices Act (also known as the FDCPA) was constructed. The laws and regulations determined by the Fair Debt Collection Practices Act not only guard consumers, but they also assist debt collection agencies as well by encouraging them to act in a serious and professional manner when engaging in dialog with supposed debtors.

Massachusetts Hardens Rules For Small Claims Collection Lawsuits

The Massachusetts Supreme Judicial Court released last week that it has altered some of the rules governing the use of small claims courts. The Court said that the changes were created specifically to address the number of debt collection cases that are filed in small claims courts.

Feds Arrest 2 In Buffalo For Debt Collection Scam

The U.S. Attorney’s office forwarded a criminal complaint Friday in U.S. District Court charging Timothy E. Arent and Neil G. Wieczkowski, both of Buffalo, N.Y., with mail fraud and conspiracy to commit mail fraud. Arent is also charged with bankruptcy fraud. The charge of mail fraud has a maximum penalty of 20 years in prison and a $250,000 fine. The bankruptcy and conspiracy fraud charges each carry a maximum penalty of five years in prison and fine of $250,000.