How Can Older Americans Combat Debt Collection Trouble?
Older Americans are struggling, possibly more than ever. In 2019, the Congressional Research Service completed a study that found that 61% of households led by an individual aged 65 or older are dealing with a median debt of $31,500. Given that the average social security benefit is roughly $1,500 monthly, there is quite a gap […]
Free Credit Reports Every Week
While having a credit lawyer can be very helpful in dealing with trouble on your credit report, a personal review and basic understanding is always the first step. Surprising Information About Credit Reports Do you know how frequently your credit report is updated? It may surprise you that creditors or collection agencies can report account […]
What Does “Current Owner” Mean on a Collection Letter? What is a Current Owner?
What Does “Current Owner” Mean on a Collection Letter? What is a Current Owner? Continuing our series on how to read a collection letter, we’ll answer the question: “What does “current owner” mean on a collection letter?” If you have received a collection letter and are left asking yourself: “Who is Midland Credit Management?” “Who […]
What Does “Charge-Off” Mean on a Collection Letter?
Many collection letters will include the term “charge-off.” Like credit reports, collection letters are full of terms that mean something other than what you might assume. Of all the odd terms found on collection letters, this one likely raises the most questions from clients in our debt resolution service. So, what does “charge-off” mean on […]
What Does ‘You have 30 days to dispute the validity of this debt’ Mean?
Whether you are on your own or working with a debt settlement attorney, anyone dealing with debt should expect to see debt collection letters in their mailbox. They come in all shapes and sizes. They’re full of scary language and fine print. Or, maybe they say they are on your side and want to be […]