Tag Archives: Debt

What Are The Debt Laws In Texas?

June 25, 2011  |  Thomas Carr-Glyn

Debt consolidation, also identified as debt negotiation or debt reduction, is really a reasonably new means for dealing along with your financial debt issues. In a debt settlement program, by simply talking with a lender, a client can minimize their debt 50 % and become debt free in as little as twelve months to 3 years.

Debt Laws in Texas

A collector is actually any individual who regularly tries to collect debts owed to themselves or other people; included in this definition are legal professionals who collect debts on a regular basis. Be aware that the federal Fair Debt Collection Practices Act can be applied merely to collectors working for expert debt collectors and attorneys employed to collect debts. Texas laws addresses actions taken by anybody attempting to collect on a consumer debt.

A collector might get in touch with you in person, simply by mail, phone, telegram, or fax. Even so, a debt collector might not contact you at annoying times or locations, such as just before 8:00 a.m.

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How to Reduce Debt Fast

June 23, 2011  |  Sofia Tuckson

Mr. Credit Card,

I’ve looked around your site and it looks like you are pretty good at helping people work down their debt. Will you help me?

I have about 17,000 worth of credit card and medical debt. I have a job and I am making the payments. It’s slow, but I am not past due on anything.

Is there any faster way to reduce this debt? Can I negotiate? How do I do that? What do I need to do to get the debt to go away faster? I read somewhere that I had to pay taxes on the forgiven debt. Is this true?

Thanks,
Phil

Phil:

The state of the economy has left a number of people, just like yourself, looking for a way to get rid of their debt the fastest way possible. Besides continuing to pay on your bills, there are a couple of ways to reduce the debt a little quicker. Fortunately, you are not past due on any of your debts, and the key to keeping your credit clean is to continue to be vigilant in paying these bills (no matter how slowly).

Medical Debt

We’re going to take a look at reducing medical debt first because there are only so many options in paying medical bills off quickly, aside from just making larger payments. Here

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How to Reduce Debt Fast

June 13, 2011  |  Sofia Tuckson

Mr. Credit Card,

I’ve looked around your site and it looks like you are pretty good at helping people work down their debt. Will you help me?

I have about 17,000 worth of credit card and medical debt. I have a job and I am making the payments. It’s slow, but I am not past due on anything.

Is there any faster way to reduce this debt? Can I negotiate? How do I do that? What do I need to do to get the debt to go away faster? I read somewhere that I had to pay taxes on the forgiven debt. Is this true?

Thanks,
Phil

Phil:

The state of the economy has left a number of people, just like yourself, looking for a way to get rid of their debt the fastest way possible. Besides continuing to pay on your bills, there are a couple of ways to reduce the debt a little quicker. Fortunately, you are not past due on any of your debts, and the key to keeping your credit clean is to continue to be vigilant in paying these bills (no matter how slowly).

Medical Debt

We’re going to take a look at reducing medical debt first because there are only so many options in paying medical bills off quickly, aside from just making larger payments. Here

Full post…

 
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How Long Does Debt Last?

May 10, 2011  |  Thomas Carr-Glyn

Financial matters are very hard to deal with; you can’t just be nonchalant about it because it might take you to court or to other serious circumstances. Whether you have a debt and it has been destructing you emotionally, and wondering how long this would last? Or a collector has been bugging about a debt you haven’t know about, or a debt that you once had years ago. It is important to take precautions about debt issues and make action about it.

How do you deal with Debt?

There are many forms of debts; it can be presented by mortgages, loan note, bond, interest requirements, and other forms. Many of the debt problems are where individuals receiving a statement that they are in debt of a certain amount many years ago. If you encountered this issue, and you haven’t had any idea what the debt is for, it is important that you do not acknowledge it. A debt that has surpassed 6 years (some states may differ in the duration) is considered ‘statute barred’ under Statute of Limitations Act. With this

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What is Debt Damage?

April 22, 2011  |  Thomas Carr-Glyn

Debt is defined as something owed and borrowed and that is money practically. And we all know that when debt strikes and used improperly, propagated with unlikable interests and mismanagement, it will lead to destruction, a mess and yes – damage. Religiously or Godly speaking, our debts or sin had cost the life of Jesus Christ on the cross. But the damage made resulted to man’s salvation as what the famous Bible stated.

Talking about the financial debt damage, the overriding bonus and output might be drastic when not relieved immediately for reconciliation. Money matters nowadays are big issues especially in these tough economic times and all people are becoming safety and security conscious in their finances and livelihood standing. Also, money stability is a must.

When one opts to go for credit, loans or planning to borrow an amount or lease a property, thorough planning must be made. Lots of steps to be taken and things to be considered must be on the list because money is not a mere joke. Inh

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What is a Debt Validation Notice?

April 02, 2011  |  Thomas Carr-Glyn

In any events that a debtor needs to clarify something about a debt that was credited to his account or name, or he might confused with an amount of debt credited under his name, he can file or submit a debt validation towards the creditor. Many debtors are receiving a debt validation notice from certain debt collector stating that he owes this amount of money to their company. This notice includes the name of the debtor, the name of the company or creditor, the amount of money that he owes to the creditor and the validity within 30days upon receipt.

However, debt validation notice also include in their letter that you can request them to verify your debt within 30 days and that you can also ask them to verify the name of the creditor with its address.

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What is a Debt Yield?

March 24, 2011  |  Thomas Carr-Glyn

A person who applies loan from a certain company is subject to a period of payment. This depends to the terms they applied for. Some lenders will offer their debtors many terms or mode of payment. Others may apply short-term loan or a long-term loan. When we say short-term loan, this pertains to a loan application of a debtor which is payable within 1-3 months only while a long term loan can be amortized into 3 months up to 1 year or more depending on the creditor’s policy. Lending companies planned to have long-term loan offers to their debtors because they will earn more interest from long-term debts rather than those short-term loans. This is how they compare debt yield as they observe the mode of payment of their debtors. The longer the term is, the more they will gain interest and will give them eventually a reasonable income in the run of these terms.

Debt yield is the computation of income of creditors to the loans that they gave to their debtors. T

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