Category Archives: Debt Collectors
Feds Put Debt-Settlement Firms on Tight Leash
Desperate people resort to desperate measures. Unfortunately, there is always someone out there ready to take advantage of another person’s tragedy to make a quick buck. As the economy struggles toward recovery, high unemployment, new layoffs, diminished wages and benefits, tight credit and aggressive foreclosure actions have continued to take a financial toll on American [...]
Charge-offs Are Creating New Financial Nightmare for Consumers
Writing off bad debt is not a new practice in the credit card industry. Called a “charge-off,” the practice is commonly used to clear a credit card issuer’s books of uncollectable debt before the end of the fiscal year. Before the recession, charge-offs were seldom necessary and their use infrequent. However, the litany of financial [...]
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