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Can You Use One Credit Card to Pay Another?

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As a consumer rights law firm, National Legal Center speaks with many people while they are navigating debt resolution challenges. A frequently asked question we encounter is “can you pay off one credit card with another?” While the short answer is no, it is not generally possible to do so, there are some alternatives that may be available.

Before diving in, trying to use one credit card to pay another is a sign you’re facing high-interest debt. In fact, it’s one of the 5 times to call a debt settlement attorney. The legal professionals at National Legal are here to help you explore options. Call us at 800-728-5285, or read on to learn how to use one credit card to pay another, among with additional alternatives to deal with high interest debt.

Money, Debit card and Credit card are in pocket of blue jean on wooden background with copy space.

The Limitations Of Paying a Credit Card Bill With Another Credit Card

Credit card companies typically prohibit using one credit card to pay off another due to the high-risk nature of the transactions. Engaging in this practice can easily result in an unending cycle of debt, where consumers might find themselves merely transferring balances from card to card without truly addressing the underlying financial issues. This cycle not only complicates an individual’s debt situation but can also exacerbate financial stress and instability.

What Are Your Options For Paying High-Interest Credit Card Debt?

Although it’s not possible to directly pay a credit card with another, there are simple financial strategies that allow you to use one line of credit to effectively resolve debt on another. One of the most popular methods is through a credit card balance transfer, where you can move the debt from one card to another credit card bill, usually to take advantage of a lower interest rate. Additionally, there are other legal strategies available that can help manage and resolve high-interest credit card debt in a more strategic and sustainable way, often with a lower minimum payment.

the girl is shopping on the Internet

Balance Transfer

One way to pay one credit card with another is to pay off the existing debt through methods such as balance transfers or cash advances. Balance transfers allow you to transfer one credit card’s balance onto another card, usually at a lower interest rate. This can help you save money on interest and potentially pay off your debt faster. However, it’s important to note that most balance transfers come with fees and promotional periods which may expire after a certain time.

Balance Transfer Credit Cards

When considering paying an existing credit card balance with another credit card by way of a balance transfer, it’s good to have the right tool for the job. Look for a balance transfer credit card as the credit card issuer has built this card for your intended purpose.

There can be excellent offers and incentives to apply for a balance transfer credit card. For instance, you may see a credit card issuer that is offering a promotion with reduced fees for balance transfers, which can help save money when repaying your credit card balance. It’s often wise to take advantage of promotional interest rate offers on balance transfer cards, as long as you understand the fine print and, ideally, can afford to pay beyond the minimum payment.

Money transfer online Global mobile financial transaction

Balance Transfer Fee

Balance transfer fees are generally a percentage of the total amount transferred, typically ranging from 3% to 5%. It’s crucial to pay close attention to these fees as they can add up, particularly with larger balances. Understanding the fee structure is essential to calculating whether a balance transfer would be financially beneficial in your specific situation.

Cash Advance

Cash advances offer another option to pay one credit card with another. The cash advance process involves taking out a loan against your credit card’s available credit limit. The funds received can be used to pay off another credit card, but it’s important to consider the high interest rates and fees associated with cash advances before opting for this method.

Cash Advance Fees

Cash advance fees are typically structured as a fixed fee per transaction or a percentage of the amount withdrawn, whichever is greater. These fees can vary significantly between credit card issuers, often ranging from 3% to 5% of the cash advance amount. Cash advance fees usually begin accruing interest immediately, without the grace period usually offered for purchases. This means that the cost of borrowing through a cash advance can escalate rapidly, making it a less desirable option for managing credit card debt effectively.

Before proceeding with a cash advance and paying the cash advance fee, it is often less expensive to pay the balance transfer fee and resolve the debt through balance transfers or other strategic ways to pay a credit card. Every situation will be different, and the most efficient way to pay your credit card bill will depend on your personal situation. it’s advisable to carefully consider its impact on your financial situation and explore all available debt management strategies.

Debt Management Plan

A significant advantage of a Debt Management Plan (DMP) is its ability to streamline the debt repayment process through a single, consolidated payment. Instead of juggling multiple credit card payments, individuals can authorize the credit counseling agency to withdraw a predetermined amount directly from their bank account each month. This amount is then distributed among the creditors according to the agreed-upon debt management plan, usually offering reduced interest rates. This direct withdrawal from a bank account not only simplifies the payment process but also helps ensure timely payments, thus avoiding late fees and further credit damage.

Debt Consolidation Loan

A debt consolidation loan can be an effective strategy to manage and pay off high-interest credit card debt. This method involves taking out a single loan to pay off multiple debts, ideally at a lower interest rate. By consolidating multiple credit card balances into one loan, you can potentially reduce the overall interest rate on your debt, simplify your monthly payments, and create a more manageable path toward debt freedom.

Beyond making your credit card bill more manageable, a consolidation loan has the potential to improve your credit score over time by reducing your credit utilization ratio and establishing a consistent payment history. However, it’s crucial to carefully consider the loan’s terms, interest rates, and fees, as well as your ability to make the monthly payments, before opting for this debt resolution strategy.

Do be wary of debt consolidation loan offers with guaranteed approval or with rates that seem too good to be true. This is commonly a bait and switch tactic to fake debt validation schemes.

Follow the NLC Blog for additional scam-awareness tips.

Debt Resolution Plan

If you’re facing difficulties in keeping up with your credit card bill, immediate action is vital. A Debt Resolution Plan from National Legal Center is a legal solution that provides an alternative to traditional debt settlement methods. Our Debt Resolution Plan brings our skilled attorneys in to negotiate with creditors on your behalf to reduce the principal amount owed, allowing you to pay off your debts faster and for less.

Opting for a Debt Resolution Plan allows for more significant financial relief than simply transferring debt through a balance transfer card. By negotiating to reduce the principal balance owed—not just interest rates—debtors can achieve more substantial savings on their credit card balance than they would through balance transfers alone. This reduction in the principal amount means that you’re ultimately paying back less than the total amount originally owed, offering a clear path out of debt that can be both faster and more affordable.

Individuals on a Debt Resolution Plan have the potential to save measurably, both through lower monthly payments in the short term and reduced credit card balance in the long term, all while providing a structured way to become debt-free.

Bankruptcy

For some, bankruptcy may emerge as an unavoidable solution when all other debt resolution strategies prove insufficient. Bankruptcy is a legal proceeding involving a person or business that is unable to repay their outstanding debts. It offers a chance to start over by forgiving debts that cannot be paid, under the protection of a federal court. Bankruptcy, like all financial decisions, can have long-lasting effects on your credit score and financial standing.

Explore Options And Take Action

While using one credit card to pay off another may not be a direct option, there are several approaches to make it happen and more effective alternatives to manage high-interest credit card debt. It’s essential to explore your options and take action before the situation becomes unmanageable.

Speak with the legal experts at National Legal Center for help in mapping out your debt repayment path.  Call 1-800-728-5285 or schedule your free consultation today.

Schedule a Free Consultation with National Legal Center

Complete this form to schedule your free consultation.

Defend Yourself Against Creditors

Silent Safeguards: 5 Stealthy Ways to Resist Debt Collection Pressures

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Dealing with debt collectors can be a nerve-wracking experience, but there’s no reason to make it easy for them to make life difficult. There are several subtle steps you can take to defend yourself and your financial well-being.

In this article, we’ll share five subtle strategies to help you navigate the challenging waters of debt collection, from knowing your rights to clever tactics that can help you stay ahead of the game. By the time you’re done reading, you’ll be equipped to handle collections with a new confidence.

Let’s dive in and learn how to protect yourself from debt collectors.

know your rights text on signpost

1) Empower Yourself by Knowing Your Rights

Understanding the Fair Debt Collection Practices Act (FDCPA) is your first line of defense against aggressive debt collectors. The FDCPA is a federal law that sets the standard for how debt collectors should conduct themselves. By closely acquainting yourself with the provisions of the FDCPA you put yourself in a stronger position to challenge any unethical collection practices. 

For example, this act outlines when and how collectors can engage with you, forbidding them from calling at odd hours or at places like your workplace if you’ve informed them it is unacceptable. Knowing that you have the right to demand all communication in writing is crucial, as it provides a paper trail for any potential legal action. If collectors persist in harassing you after you or your debt settlement attorney sent a cease and desist letter, they’re in violation of the FDCPA.

By being well-versed in your rights, you can proactively address and even prevent issues arising during debt collection efforts. Not only does this knowledge deter collectors from using intimidation tactics, but it also offers confidence to stand your ground and protect your financial well-being.

Hand using smartphone with Social media concept.

2) Don’t Overshare on Social Media: Your Digital Footprint Exposes More Than You Think

Social media platforms like Facebook and LinkedIn can inadvertently become tools for debt collectors to gather information about your job your lifestyle and even locate assets. A former debt collector noted how such platforms are leveraged to collect data that could be used against you. 

How debt collectors use social media:

  • Photos of Work Identifications or Uniforms: Debt collectors may use pictures you post that inadvertently display your work ID or uniform to determine your place of employment.
  • Updates on Job Changes or Promotions: Announcements about job changes, promotions, or other career milestones can give collectors insights into your financial status.
  • Family and Relationships: By looking at your relationships, collectors can identify potential contacts or co-debtors related to your financial liabilities.
  • Check-In Locations: Your check-in posts at various locations can reveal patterns in your lifestyle and potentially even your home or work address.
  • Celebratory Financial Posts: Posts that celebrate big purchases or financial milestones might suggest an improved ability to pay debts.
  • Fake Recruiter Profiles: Debt collectors may use fake LinkedIn recruiter accounts to connect with you, making it easier for you to lower your guard and share personal information.
  • Public Friend Lists and Networks: Collectors can peruse your friend lists and network connections to gather additional points of contact.
  • Consistent Use of Hashtags: Specific hashtags related to work or spending habits can help collectors build a profile of your financial behavior. #splurgespend #treatingmyself

Maintaining privacy online makes it more difficult for debt collectors to assess your financial standing or property ownership, which could otherwise lead to more aggressive collection strategies. By being mindful of your activities on social media, collectors are less likely to contact friends or family members, preserving your relationships and reputation. 

By controlling what information is available about you, you keep the power in your interactions with debt collectors and reduce your visibility as a target for their actions.

mobile banking

3) Smart Banking Shields You From Unexpected Withdrawals and Levies

Debt collectors often try to continue drafting automatic payments directly from your bank accounts. But did you know you have the right to cancel automatic transactions that you no longer authorize to protect your money from automatic withdrawals? 

Banking tips when you have debt in collections:

  • Set Up Separate Bank Accounts: Establishing a bank account that isn’t linked to any debts can safeguard your funds. A new bank account is especially important if you wish to revoke authorization from companies you temporarily granted permission to withdraw funds automatically.
  • Avoid Automatic Payment Plans: Opting out of automatic payment setups ensures you keep control over when and how much you pay, preventing any unwanted surprises from automatic debits.
  • Separate Protected Income: Some forms of income, such as SSI, SSDI, many pensions, and child support are exempt from debt collection. By depositing these funds into an account that’s separate from any other debts, you can protect that money should a collector attempt to garnish your bank accounts.
  • Direct Deposits to a Secure Account: Have your income directly deposited into an account that isn’t connected to your debts. This prevents debt collectors from claiming a portion of your income before you can allocate it as needed.
  • Inform Yourself About Wage Garnishment Laws: Understanding state and federal garnishment laws will help you know how much of your income is at risk and what part you can protect. If you’re unsure, National Legal Center’s legal professionals can help you assess your risk with a free debt consultation.

Debt Defense Pro tip:

Avoid using the same bank for new accounts that you used when the debts were in good standing. Doing so can shield your current funds from being easily levied.

Being intentional about where your money is held and who has access to it means you are actively managing your financial health. Creating buffers between you and debt collectors protects your assets and gives you peace of mind while you strategize the best way to tackle your debts. Remember, the key is to stay one step ahead of debt collectors, and oversight of your bank accounts is an essential strategic move.

Woman thinking,

4) Effective Communication Techniques to Handle Debt Collectors

Debt collectors are trained to extract payments using various psychological tactics. Being prepared with effective communication techniques to help you maintain the upper hand. 

Strategies for communicating with debt collectors:

  1. Record All Interactions: Keep a detailed log of all communications with debt collectors, including phone calls, emails, and any letters. Consider recording phone conversations if your state law permits.
  2. Use Certified Mail: When sending important documents to collectors or disputing a debt, use certified mail with return receipt requested to ensure there is proof of delivery.
  3. Stay Calm and Collected: Always keep conversations with debt collectors calm and assertive, regardless of the tone they might use. Your composure can deflect aggressive tactics and keep the conversation on topic.
  4. Know When to Disengage: If a debt collector becomes overly aggressive or you feel the conversation is not productive, know that you have the right to end the conversation and only communicate in writing.
  5. Trust the Pro’s: If you’re considering settling debt yourself, follow the tips from the negotiation experts at NLC.  

Communication with debt collectors should be done in writing whenever possible to leave a paper trail and avoid any misunderstandings. Stay informed of your rights, and don’t be afraid to exercise them when necessary. With the right strategies and mindset, you can handle debt collectors effectively while working towards financial freedom.

Legal Assistance

5) Seek Legal Assistance

When dealing with persistent debt collectors, help from a legal professional can sometimes become necessary. Attorneys familiar with consumer debt protection can be your strongest allies in these situations. They understand the intricate laws and regulations governing debt collection and can provide effective strategies and legal representation.

Benefits of Legal Assistance in Debt Collection:

  • Cease and Desist Enforcement: A debt resolution lawyer can ensure that your cease and desist letters are respected, and can take swift legal action if collectors continue to contact you or violate your consumer rights.
  • Representation in Court: Should the case escalate to a lawsuit, having an attorney means you’ll have an experienced advocate who can help determine if it makes sense to negotiate a settlement or defend your rights in court.
  • Negotiation of Settlements: Skilled attorneys and legal professionals regularly negotiate debt settlements for less than what is owed without you having to directly communicate with collectors.
  • Guidance on Asset Protection: Legal counsel can also offer advice on how to protect your assets from seizure, minimize the likelihood of wage garnishment and guide you to an effective resolution of your debts.
  • Education on Your Rights: Perhaps most importantly, legal professionals can educate you about your rights and options, acting as your ally and empowering you with the knowledge to deal with collectors confidently and successfully. 

Not sure if your situation warrants bringing in an attorney? Here are 5 times to call a debt settlement attorney. If it’s time for you to stand up to debt, resolve debt affordably with National Legal Center. Request a free quote and consultation today. 

By consulting with a legal expert, you are not only fortifying your position against debt collectors but are also taking proactive steps toward safeguarding your financial future. Remember, you don’t have to face your debts alone; help is available, and it’s within your right to use it.

Conclusion

Empower yourself and protect your peace of mind by taking these smart steps against debt collectors. Often, it’s the subtle tactics that prevent collection activity from disrupting your life. 

 

Schedule a Free Consultation with National Legal Center

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Resolving Debt with Weltman, Weinberg, & Reis Co.  

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You find yourself among the multitude grappling with debt and your mailbox has been graced with a letter or even a lawsuit from the debt collection law firm Weltman, Weinberg & Reis, Co.

It makes sense to be on the hunt for for answers.

You’re not alone. This journey can be daunting, but it’s crucial to confront the situation head on and arm yourself with knowledge to navigate these high-risk financial waters.

What is Weltman, Weinberg, & Reis?

Who does Weltman, Weinberg & Reis collect for?

Can I settle a debt collection lawsuit with Weltman, Weinberg & Reis, co?

This article will be answering all those questions and more. We’ll explore the relationship between the various companies involved in the debt collection ecosystem and review options for dealing with debt collection law firms like Weltman, Weiinberg & Reis.

Woman reading debt letter

Who is Weltman, Weinberg & Reis?

Weltman, Weinberg & Reis is a national debt collection law firm based in Cincinnatti, Ohio. This law firm acts as a debt collector for the creditors or debt buyers it represents. Their goal is to contact the debtors who owe money to their clients to collect payment.

What Kind of Debts does Weltman, Weinberg & Reis Collect?

Weltman, Weinberg & Reis represents a broad spectrum of clients, ranging from financial institutions to retailers. They deal with different types of debts, from unpaid credit card debts to auto loans, personal loans, and mortgage debts.

Once a debt is acquired by Weltman, Weinberg & Reis, it becomes their responsibility to try to collect that debt. All communications regarding the account will take place between you (or your debt settlement attorney) and Weltman, Weinberg & Reis.

Why isn’t Weltman, Weinberg & Reis on My Credit Report?

While Weltman, Weinberg & Reis represents various creditors, they are not the original lender nor do they generally own the debt they collect on. It is the responsibility of the owner of your debt to report to the credit bureaus. This means that Weltman, Weinberg & Reis will not likely show up as a creditor on your credit report. However, it does remain the responsibility of your lender or creditor to report payments made to Weltman, Weinberg & Reis on your credit report.

What Should I Do If I Receive a Letter or Call from Weltman, Weinberg & Reis?

If you’re receiving calls or letters from Weltman, Weinberg & Reis, there are actions you can take and rights that protect you as a consumer.

First, make sure to understand the debt collection letters you receive. If you are unsure about the validity of the debt, consider seeking legal advice to determine if you should send a debt validation letter.

If the debt is valid and you can afford to make payments, ensure that any arrangement is affordable and doesn’t compromise your financial stability.

Stressed out man at computer

Can Weltman, Weinberg & Reis Sue Me?

Weltman, Weinberg & Reis may file a debt collection lawsuit to sue you for the debt you owe. Left unanswered, a lawsuit will likely lead to a default judgment. That judgment can leave you at risk of wage garnishment, levied bank accounts, liens against your home, and more. If you receive a debt collection lawsuit from Weltman, Weinberg & Reis, time is limited, and it is crucial to seek legal assistance as soon as possible.

Can I sue Weltman, Weinberg & Reis for debt collection harassment?

If Weltman, Weinberg & Reis violates your consumer rights, you have the right to take legal action. There are several laws that protect consumers from unfair business practices, including the Fair Debt Collection Practices Act (FDCPA), the Telephone Consumer Protection Act (TCPA), the Electronic Funds Transfer Act (EFTA), the Truth in Lending Act (TILA), and more.

What if I need more help?

If you need more help understanding your options or need to settle debt with Weltman, Weinberg & Reis, request a free consultation today. From debt collection lawsuit defense to debt negotiation to lawsuit debt settlement and beyond, the expert legal team at National Legal Center is ready to help you #StandUpToDebt.

Schedule a Free Consultation with National Legal Center

If you owe debt to Ras Lavrar and other debt collection agencies, law firms, and financial institutions, we’re here to help. Complete this form to schedule your free consultation.

Stressed older woman debt letter

Zeroing Out Debt Owed to Zwicker & Associates

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When faced with mounting debt, a letter or lawsuit from Zwicker & Associates, a debt collection law firm based in Andover, Massachusetts, can bring about a lot of stress and uncertainty. However, you aren’t as powerless as you may think, especially if you understand your options and rights when dealing with a debt collection agency like Zwicker & Associates.

Who is Zwicker & Associates?

Zwicker & Associates is a large debt collection law firm that represents creditors and debt buyers in collecting debts from individuals. Founded in 1991, this firm has offices in over 30 states and works with a variety of clients, including credit card companies, banks, and more.

What Types of Debts does Zwicker & Associates Collect?

Zwicker & Associates collects on various types of debts, including credit card debt, medical debt, auto loans, personal loans, and more.

Why isn’t Zwicker & Associates on My Credit Report?

As with other debt collection law firms like Weltman, Weinberg & Reis, or Ras Lavrar, Zwicker & Associates does not usually own the debts they collect on. Therefore, they will not appear as a creditor on your credit report. However, any payments made to Zwicker & Associates should be reported by the original creditor.

Woman reading debt mail

What Should I Do If I Receive a Letter or Call from Zwicker & Associates?

If you receive a letter or call from Zwicker & Associates, it is essential to understand your rights and options as a consumer. You have the right to request validation of the debt and to seek legal advice before making any payments or agreements.

Can Zwicker & Associates Sue Me?

If you owe a debt that Zwicker & Associates is trying to collect, they may file a lawsuit against you. In this case, your risks will vary based on your state and income, among other circumstances. It is crucial to seek legal assistance as soon as possible to avoid a default judgment and potential wage garnishment or other collection actions.

Can I Sue Zwicker & Associates for Debt Collection Harassment?

Debt collection attorneys are often subject to consumer protection laws. If you believe that they have violated your rights under the FDCPA, TCPA, EFTA, or TILA, you may have the right to take legal action against them.

What if I Need More Help?

If you are struggling with debt owed to Zwicker & Associates or any other debt collector, it is essential to understand your options and seek expert legal advice. Request a free consultation from National Legal Center today and let our experienced team help you find a solution to overcome your debt. Remember, you have the power to #StandUpToDebt and take ownership of your financial future.

Schedule a Free Consultation with National Legal Center

If you owe debt to Ras Lavrar and other debt collection agencies, law firms, and financial institutions, we’re here to help. Complete this form to schedule your free consultation.

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Debt with Ras Lavrar- Confronting it with Confidence

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If you’ve found yourself part of the multitude grappling with debt, and your mailbox has been graced with a letter or even a lawsuit from the debt collection law firm Ras Lavrar, you’re undoubtedly looking for answers. You’re not alone. This journey can be daunting, but it’s crucial to confront the situation head on and arm yourself with knowledge to navigate these high-risk financial waters.

What is Ras Lavrar?

Who does Ras Lavrar collect for?

Can I settle a debt collection lawsuit with Ras Lavrar?

This article will answer all those questions PLUS  review options for dealing with debt collection law firms like Ras Lavrar.

Cropped view of couple holding pen and documents with debt collection lettering at home

Who is Ras Lavrar?

Ras Lavrar is a law firm based in Plantation, Florida, specializing in debt collection. This law firm acts as a debt collector for the creditors or debt buyers it represents. Their goal is to contact the debtors who owe money to their clients to collect payment.

What Debts does Ras Lavrar Collect?

Ras Lavrar represents a broad spectrum of clients, ranging from financial institutions to retailers. They deal with different types of debts, from unpaid credit card debts to auto loans, personal loans, and mortgage debts. Once a debt is acquired by Ras Lavrar, it becomes their responsibility to try to collect that debt. All communications regarding the account will take place between you (or your debt settlement attorney) and Ras Lavrar.

Why isn’t Ras Lavrar on My Credit Report?

While Ras Lavrar represents various creditors, they are not the original lender nor do they own the debt they collect on. It is the responsibility of the owner of your debt to report to the credit bureaus. This means that Ras Lavrar will not likely show up as a creditor on your credit report, but remains the responsibility of your lender or creditor to report payments made to Ras Lavrar on your credit report.

What Should I Do If I Receive a Letter or Call from Ras Lavrar?

If you’re receiving calls or letters from Ras Lavrar, there are actions you can take and rights that protect you as a consumer. First, make sure to understand the debt collection letters you receive. If you are unsure about the validity of the debt, consider seeking legal advice to determine if you should send a debt validation letter. If the debt is valid and you can afford to make payments, ensure that any arrangement is affordable and doesn’t compromise your financial stability.

Man receiving refusal letter while checking mailbox in lobby

I have debt with Ras Lavrar, can Ras Lavrar Sue Me?

Yes, Ras Lavrar may sue you for the debt you owe. If you receive a debt collection lawsuit from Ras Lavrar, time is limited, and it is crucial to seek legal assistance as soon as possible.

I owe debt to Ras Lavrar and they stepped over the line, can I sue them for debt collection harassment?

If Ras Lavrar violates your consumer rights, you have the right to take legal action. There are several laws that protect consumers from unfair business practices, including the Fair Debt Collection Practices Act (FDCPA), the Telephone Consumer Protection Act (TCPA), the Electronic Funds Transfer Act (EFTA), the Truth in Lending Act (TILA), and more.

What if I need more help to resolve debt with Ras Lavrar?

If you need more help understanding your options or need to settle debt with Ras Lavrar, request a free consultation today. From debt collection lawsuit defense to debt negotiation to lawsuit debt settlement and beyond, the expert legal team at National Legal Center is ready to help you #StandUpToDebt.

Schedule a Free Consultation with National Legal Center

If you owe debt to Ras Lavrar and other debt collection agencies, law firms, and financial institutions, we’re here to help. Complete this form to schedule your free consultation.

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Unmasking the Mirage: The Hidden Reality Behind Low Debt in Collections

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  • The Federal Reserve Bank of New York (NY Fed) shared data showing that the number of Americans with debt in collections is at an all-time low.
  • Medical debt previously made up 58% of collection tradelines, and credit bureaus have stopped reporting medical bills under $500. Furthermore, the temporary pause on student loan repayments has also contributed to the decline in collections.
  • The data regarding collections is not representative of the country’s economic health. The need for a comprehensive and accurate evaluation of economic markers that reflect the financial health of American households is paramount.
Debt Collection Image

A Mirage of Economic Strength

The New York Fed shared data this week that shows the number of Americans with debt in collections is at an all-time low. At first glance, these numbers may imply a robust economy, but the reality is far more complex.

The drastic reduction in debt collections owes more to a systematic change in debt reporting rather than reflecting genuine financial stability among American households. Come along with us as we uncover the truth behind these seemingly positive numbers as we delve deeper into this data. Let’s peel back the layers of this financial- and perhaps political- economic illusion.

What Debt Goes to Collections?

First, it helps to know what causes a debt to go to collections. Accounts are generally reported as delinquent after 30 days of non-payment, charged off, and reported as an account in collections after 180 days. Nearly any type of debt can be sent to collections: medical bills, credit card balances, utility bills, and even student loans. Making occasional or regular payments on an account already in collections doesn’t remove it from collections. Accounts remain in collections until they are paid or settled for less than the full amount owed.

The Medical Debt Mirage

Medical debt, which was found to constitute 58% of all collections, is often the result of an unforeseen health crisis that comes with high medical costs.

In recent years, the credit bureaus initiated an unprecedented move- to stop reporting medical bills under $500. These smaller bills are estimated to make up roughly half of the medical debt in collections. This change clearly benefits the consumer and was made for good reason. With an obvious lead-lag effect, this move also drastcally reduced the reported collections debt.

Heralding the reduction of debt in collections as an economic indicator is a premature evaluation demonstrating no real financial improvement. We cannot claim an economic win when we remove half of the largest source of collections.

Changing the rules of credit reporting will always result in a change in how many debts are reported. It doesn’t mean people feel any less financial pressure- they don’t. They weren’t paying those bills in the first place.

Rising high cost of living in low poor income asia people family. Past due bill debt home loan money issue young adult asian couple man woman worry shock sad tired stress in raise tax rate crisis

Impact of Student Loans Moratorium

The temporary pause on student loans also played a significant part in the reduced debt in collections. However, this is merely a deferral of debt repayment, not an elimination, and therefore does not genuinely represent economic improvement.

After a several-year pandemic-prompted pause, payments on federal student loans resumed in October. Time will tell how much of an economic impact this causes.

The Reality of the Decline in Debt Collections

The decline in debt collections reflects systematic changes in debt reporting; it should not be considered an indication of improved economic health. Therefore, these ‘encouraging signs’ are likely merely smoke and mirrors that portray an unrealistic image of our economy.

We must re-evaluate our economic markers and acknowledge that an economy cannot be gauged on such easily manipulated indicators. As we pivot towards a politically charged environment, we will inevitably see politicians play the role of the economic savior, but the need for truth and transparency is even higher. It’s time we recognize these moves for what they are. We need to peek behind the curtain, challenge the status quo, and unmask the actual state of our economy.

Conclusion

In conclusion, while the decline in debt collections may initially seem like a positive economic indicator, it is crucial to look beyond the surface. The changes in debt reporting and temporary moratoriums may have masked the true reality of America’s financial health.

We should consider a range of factors that accurately reflect the financial health of American households. Housing costs, income vs inflation, homelessness, and more. Only then can we truly understand and address people’s debt situation.

Schedule a Free Consultation with National Legal Center

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Graphic Depicting Elders for Elder Abuse Awareness Day

June is Elder Abuse Month. Here’s What to Know.

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National Legal Center is committed to promoting senior wellness and preventing elder abuse. World Elder Abuse Awareness Day (WEAAD) on June 15th is a global event that sheds light on the problem of elder abuse and seeks to protect seniors from all forms of mistreatment.

Raising awareness around this issue can help prevent financial exploitation, physical violence, neglect, psychological abuse, and other forms of maltreatment faced by elderly individuals worldwide.

Older generations are already facing financial hardship due to age-related medical bills and other expenses. These harmed humans are why our mission includes advocating for seniors in financial distress. We assist with debt-related legal issues, homestead property rights, debt collection scams, and more.

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Types of elder abuse

Financial exploitation
Domestic and sexual violence
Physical violence and neglect
Starvation and mistreatment
Psychological abuse

Know the signs of abuse.

It’s important to be aware of the signs of elder abuse, ranging from physical injuries, emotional distress, financial irregularities, and more.

For example, physical signs may include bruises or other marks on the body. Emotional signs might include fearfulness or withdrawal in the presence of certain people. Financial irregularity could manifest in sudden changes to an elder’s financial situation, such as large withdrawals from a bank account or suspicious changes in wills, power of attorney documents, and/or other legal documents.

Harm happens fast, so it’s important to watch for warning signs and act quickly if you suspect that your loved one is being abused in any way.

Hurdles preventing help

Older Americans or seniors in an abusive situation may be unable to ask for help because of fear, confusion, or embarrassment. Those around them may not be aware of the signs of abuse or might not realize that help is available. There may also be social and cultural barriers that prevent seniors from seeking assistance.

Unable to advocate for themselves

When older adults begin to lose their capacities, they may begin to lose awareness. It may be up to a family member or friend to help the person gain a better understanding of what they’re facing and how to prevent it.

Shamed into silence

Abusers may shame victims into silence, leaving older victims to fear the loss of shelter or other things that affect their safety and health. Fear is a powerful motivator, and someone who is threatened with losing their core physical or emotional needs met may be influenced to stay quiet.

6 out of 10 elder abusers are relatives… but that’s not the whole story.

Based on information compiled by the National Council on Aging, 6 of 10 elder abusers are relatives. However, they also reported that as few as 1 in 24 cases of elder abuse are ever reported, which makes these numbers difficult to make a real inference.

Since the numbers don’t paint a clear picture, what’s the whole story?

We must collectively watch over the elders of our community and older person in our family, whether they live with family, in a long-term facility, or on their own.

Limited access to technology

Not everyone uses cell phones or the internet. Not only do older people tend to be less likely to use new technology, the long-term care facility they live in may not provide access.

Senior Man in Distress

How does a person make an elder abuse report?

If you or someone else is in immediate danger, call 911.

If you suspect elder abuse, the first step is to contact the authorities. Depending on your location, you may need to contact Adult Protective Services (APS), local law enforcement, or a state elder abuse hotline.

If you suspect an elder is being financially exploited, you should contact your local police department and/or your state’s Department of Financial Regulation for assistance in filing a complaint.

You can also find state-specific resources from the NCEA.

Additional resources

The International Network for the Prevention of Elder Abuse and the World Health Organization launched World Elder Abuse Awareness Day to raise awareness about elder abuse and establish victim services. Here are additional resources that may support an elderly person facing an abusive situation.

National Domestic Violence Hotline 800-799-SAFE (7233)

National Council on Aging

Department of Health and Human Services

If financial abuse has left you or your loved one with debt trouble, National Legal Center provides affordable representation to navigate debt without filing for bankruptcy.

Schedule a Free Debt Consultation with National Legal Center

Complete this form to schedule your free consultation.

Frustrated angry young man

Bad Credit Loans with Guaranteed Approval?! It’s a Trap!

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If you’ve ever searched for a loan with bad credit, you probably came across advertisements promising guaranteed loan approval with no credit check. That might sound like a real saving grace, but these are often traps set by manipulative marketers to take advantage of people in desperate financial situations. Behind the scenes, these seemingly generous offers are just a way to collect your personal information and sell it to the highest bidder – usually scams, deceptive debt validation schemes, or other shady entities.

Don’t fall into this trap!

Read on to find out how to get legitimate financial help when you need money but don’t qualify for traditional loans due to bad credit.

What is a Bad Credit Loan?

Bad credit loans are designed for people with poor credit, usually those with FICO scores below 630. Many lenders consider applicants with low or no credit history to be high-risk investments, which makes it difficult for people with bad credit to get approved for traditional loans.

Bad credit loans tend to come from alternative lenders, meaning they have higher interest rates and less favorable terms than regular loans.

Bad credit loans are not inherently bad. But they do swim in murky waters. That’s why it’s so important to be extra vigilant when applying for a loan with bad credit. How risky is it? The Consumer Financial Protection Bureau announced that they had launched an inquiry into data brokers, the companies that collect and sell your personal information.

Bad credit loan warning

Bad Financial Advice For People With Bad Credit

The internet is full of bad advice when it comes to borrowing money with bad credit. For example, some websites claim that you can get guaranteed approval on loans without any credit check, no income verification, and without having to provide collateral.

We can’t claim that all of these are false, but there’s a good chance it’s an outright scam. Few legitimate lenders will approve a loan without verifying your identity, income, or credit history. So when you see online ads claiming guaranteed approval money in your bank account in two days, be on high alert.

What are Bad Credit Personal Loans and Payday Loans?

Bad credit personal loans and payday loans are two common types of bad credit loan. Personal loans typically have a longer repayment term, while payday loans are short-term cash advances with high-interest rates.

Bad credit payday loans should be avoided if possible since they’re incredibly expensive and can quickly trap you in a cycle of debt. In addition, payday loans have been the subject of numerous consumer protection lawsuits and are generally seen as predatory lenders.

On the other hand, bad credit personal loans are usually more manageable when it comes to interest rates and terms. The better your credit score, the lower your APR will be. Unsecured personal loans tend to have lower interest rates than credit cards and payday loans, but they can be difficult for those with poor credit to qualify for.

Woman reading letter

Online Loans for People with Bad Credit

When the search for bad credit loans goes online, things get riskier. Many websites are designed to lure desperate borrowers into falling for misleading offers and scams. Some of them don’t even have an actual lender involved. They are outright scams.

Here are some tips to keep in mind when searching for a loan online:

Do your research before applying for any online loan program.

Check the Better Business Bureau, read customer reviews, and make sure the website is secure.

Read the privacy policy

Watch out for phrases like “we will share your information with third-party vendors,” or “the amount we are paid will influence the results we display,” or “some of our vendors are non-banks offering debt relief services.” Language of this sort means you are opening yourself up to phone calls and solicitations from who knows where.

Look for lenders who offer pre-qualification

This is a great way to check if you’ll qualify for a loan without hurting your credit score.

Discard unchecked financial advice on social media

We worked with CNET to expose financial misinformation on TikTok. Unfortunately, you’ll run into way too much incorrect, potentially damaging financial advice on social media.

Avoid networks or brokers

When you enter your information into an online form that connects you through a network, you never know where they will send your personal information. Some affiliate networks are transparent networks of great service providers, but that is the rarity, and you just don’t know. Stay in the driver’s seat by choosing which companies you’d like to apply for a bad credit loan from and applying for your loan directly.

Work with reputable companies

Whether it’s a lender or a law firm, you should always do your due diligence and research the company before signing up for any service. Check third-party reviews, read their policies carefully, and make sure they are licensed in your state.

Explore Other Options

Don’t limit yourself to bad credit loans. Look into other financial assistance programs or debt consolidation services that may help.

Our law firm offers affordable help with debt when you can’t keep up with monthly debt payments. We also have services specifically for retirees and individuals living with disabilities.

Don’t risk a scam if you’ve been denied a debt consolidation loan due to bad credit. You have options. Reach out to us today for a free consultation to explore safe solutions together.

Schedule a Free Debt Consultation with National Legal Center

Complete this form to schedule your free consultation.

Couple looking at paperwork

Settling Debt with National Enterprise Systems, Inc.

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Here’s the Deal:

  • If you’re receiving calls and letters from National Enterprise Systems, Inc., they’re probably contacting you about credit card debt, personal loans, or other past-due bills
  • Delinquent debt may hold you back from achieving financial goals, like buying a home or car, or lead to wage garnishment, bank levy, property liens, and more
  • Settle debt with National Enterprise Systems, Inc. on your own or let our debt relief law firm lead the way
GET A FREE CONSULTATION

National Enterprise Systems, Inc. is a legitimate debt collection agency, but don’t let your guard down- legitimate companies still break laws and stack up long lists of complaints. In this article, you’ll learn what happens when you don’t pay National Enterprise Systems, Inc. and when its time to call a debt settlement attorney.

Debt Settlement

National Enterprise Systems, Inc. is a Debt Collection Agency

If you’re receiving calls and letters from National Enterprise Systems, Inc., they’re probably contacting you about credit card debt, personal loans, or other past-due bills.

If you don’t Pay National Enterprise Systems, Inc….

When you owe credit card debt and are being contacted by a collection agency, it’s important to take action and create a plan to pay the debt.

If you don’t pay National Enterprise Systems, Inc. (or any debt collection agency) they’re generally left with the following options. A collection agency may:

  • Continue calling, sending letters, and reporting to the credit bureaus,
  • send it back to their client (the original creditor or debt buyer that hired them), 
  • suggest the account to a debt collection law firm to consider filing a debt collection lawsuit, or 
  • hold the account for future collection.
Couple looking at computer - Debt Settlement

While some of these outcomes may not seem too bad, it’s important to keep in mind the big picture. Delinquent debt may hold you back from achieving financial goals, like buying a home or car, or lead to wage garnishment, bank levy, property liens, and more.

You can settle debt with National Enterprise Systems, Inc. yourself or let our debt relief law firm lead the way. We’ll help you understand your options, resolve your debt and move on with your financial future. Either way, since the risk of debt can range from pesky calls to wage garnishment and seized property, it’s crucial to have a plan to deal with the debt.

GET A FREE CONSULTATION

How To Contact National Enterprise Systems, Inc. (and not a scammer)

The following information is subject to change and should be confirmed by visiting their website directly. National Enterprise Systems, Inc. presently lists its contact information as follows:

Address:

29125 Solon Road
Solon, OH 44139

Phone Numbers:

(800) 973-0600
(440) 542-1360

FAQ’s: Settling Debt with National Enterprise Systems, Inc.

Is National Enterprise Systems, Inc. legit?

Yes, but don’t let your guard down. The Fair Debt Collection Practices Act sets the rules, and debt collectors still break them.

What is the Fair Debt Collection Practices Act?

The Fair Debt Collection Practices Act is a federal law that regulates the collection of consumer debt by debt collectors. A debt collector cannot call too early or late, use profanity, share false information, and more. 

Is National Enterprise Systems, Inc. a law firm?

No, they are not a law firm and cannot file a debt collection lawsuit without retaining an outside attorney.

Can I settle with debt collection agencies myself?

Yes, you can settle debt yourself, but it’s important to be aware of the risks.

How can a debt relief law firm help?

Our debt relief law firm can negotiate settlements and payment plans with National Enterprise Systems, Inc.. We may also request debt validation, stop collection calls, minimize wage garnishment risk, sue debt collectors, and defend debt collection lawsuits if necessary.

Will debt settlement show up on a credit report?

Debts settled with National Enterprise Systems, Inc. may appear on your credit report with phrases like “Settled in Full” or “Settled for less than full amount owed.”

Schedule a Free Debt Consultation with National Legal Center

Rather talk another time? Complete this form to schedule your free consultation.

Man calling customer service after unjustified costs complain

Settling Debt with Jefferson Capital Systems, LLC

,

Settling Debt with Jefferson Capital Systems, LLC

Here’s the Deal:

  • If you’re receiving calls and letters from Jefferson Capital Systems, LLC, they’re probably contacting you about credit card debt, personal loans, or other past-due bills
  • Delinquent debt may hold you back from achieving financial goals, like buying a home or car, or lead to wage garnishment, bank levy, property liens, and more
  • Settle debt with Jefferson Capital Systems, LLC on your own or let our debt relief law firm lead the way
GET A FREE CONSULTATION

Jefferson Capital Systems, LLC is a legitimate debt collection agency, but don’t let your guard down- legitimate companies still break laws and stack up long lists of complaints. In this article, you’ll learn what happens when you don’t pay Jefferson Capital Systems, LLC and when its time to call a debt settlement attorney.

Speaking to Debt Collector

Jefferson Capital Systems, LLC is a Debt Collection Agency

If you’re receiving calls and letters from Jefferson Capital Systems, LLC, they’re probably contacting you about credit card debt, personal loans, or other past-due bills.

If you don’t Pay Jefferson Capital Systems, LLC…

When you owe credit card debt and are being contacted by a collection agency, it’s important to take action and create a plan to pay the debt.

If you don’t pay Jefferson Capital Systems, LLC (or any debt collection agency) they’re generally left with the following options. A collection agency may:

  • Continue calling, sending letters, and reporting to the credit bureaus,
  • send it back to their client (the original creditor or debt buyer that hired them), 
  • suggest the account to a debt collection law firm to consider filing a debt collection lawsuit, or 
  • hold the account for future collection

Settling Debt with Midland Funding, LLC If you're among the millions of people who have received a letter or lawsuit about a debt owed to the debt buyer Midland Funding, LLC, you’ve probably got a few questions. What is Midland Funding, LLC? Who does Midland Funding, LLC collect for? Can I sue Midland Funding, LLC for debt collection harassment? Can I settle a lawsuit with Midland Funding, LLC? This article will be answering all those questions and more. We'll explore the relationship between the various companies involved with this debt collection conglomerate, and review options for dealing with debt collectors. So, read on for all you need to know about settling debt with Midland Funding, LLC. What Is Midland Funding, LLC? Midland Funding, LLC is a debt buyer. They purchase unpaid debts from other companies for a fraction of the amount owed. They then try to collect on those debts to earn a profit. Naturally, their goal is to buy old debt for as little as possible and collect as much as they can to maximize profitability. Midland Funding, LLC is among the largest debt buyers in the United States, along with other debt buyers like LVNV Funding, LLC and Portfolio Recovery Associates, LLC. Given their large presence in the debt collection industry, theirs is a common name to see when you have debt fall behind and go to collections. After Midland Funding, LLC acquires someone’s debt, they have a few options that they can exercise right away or in the future. To name a few, they may: Suggested image: 311988854 ● Collect on the debt directly ● Hire a third-party collection agency to pursue collections ● Place the account with a law firm for collection and/or litigation ● Do nothing ● Resell the account to a different debt buyer One thing to keep in mind is that Midland Funding, LLC is not a lender, nor do they directly collect debts they purchase. Because of this, you are more likely to see collection activity coming from their consumer facing debt collection entity- Midland Credit Management, Inc. Because Midland Credit Management, Inc is a collection agency, they are subject to the Fair Debt Collection Practices Act. The FDCPA is a series of laws that protect consumers from unfair tactics by debt collectors. Is Midland Funding, LLC a legitimate company? Yes, Midland Funding, LLC is a legitimate company. In fact, they’re one of the largest debt buyers in America. Just because they are a legitimate organization doesn't mean you should let your guard down. We are a consumer rights law firm, and we encourage you to treat any call or letter asking you for money with a healthy amount of skepticism. The scammers of the world are known to piggyback off of other companies. Double and triple-check to be sure you are truly communicating with the real Midland Funding, LLC before providing any personal information and falling prey to a scam. If it truly is a call, letter, or lawsuit from Midland Funding, LLC, they are indeed a legitimate debt buyer. What Is the relationship between Midland Funding, LLC, Midland Credit Management, Inc., and Encore Capital Group? Suggested Image: 249780757 You’re probably seeing that several entities are at work within the Midland Funding debt collection ecosystem. When you have a debt that has been purchased by Midland Funding, LLC, you may also see Midland Credit Management, Encore Capital Group, or Atlantic Credit and Finance. With all these companies intertwined, it definitely gets a bit tricky. Rather than untangle the corporate web behind Midland Funding, LLC, it can be summed up like this: Midland Credit Management is the front-line collection agency, Midland Funding tends to be the name on most credit reports and debt collection lawsuits, and Encore Capital Group tends to stay behind the scenes. Who does Midland Funding, LLC, collect for? Midland Funding, LLC purchases unpaid debt from major financial institutions and retailers like Capital One, and Synchrony Bank. Though their primary focus seems to be on revolving lines of credit like credit cards, they may also collect on other debt types such as auto deficiency balances, unpaid second mortgages, or home equity loans and lines of credit. Once a debt has been purchased by Midland Funding, LLC, it is their right (or that of their collecting arm, Midland Credit Management, Inc) to try to collect on that debt. The original creditor no longer owns the debt, and all communication regarding the account will take place between you (or your debt settlement attorney) and the new owner of the debt or their collector. Why is Midland Funding, LLC on My Credit Report? Suggested Image: 123813415 When Midland Funding, LLC becomes the new owner of your debt, their name will often appear on your credit report alongside the account they’ve purchased. Their remarks may include contact information for Midland Funding, LLC (see below), how long the account will remain on your credit report, and the account status, such as unpaid, paid in full, or settled. Under the Fair Credit Reporting Act, they are able and expected to report accurate and verifiable information. If it is not accurate, or they cannot verify the information, you may be able to remove Midland Funding, LLC from your credit report by disputing the remark. What should I do if I receive a letter or call from Midland Funding, LLC? If you're receiving calls or letters from a debt collector at Midland Funding, LLC or Midland Credit Management, there are actions you can take and rights that protect you as a consumer in debt. Suggested Image: 397735748 First, read the Attorney's Guide to Reading a Collection Letter for clarity of the letter you received and the laws that collection agencies need to follow when sending letters about collection accounts. Then, determine your next steps. Are you sure you owe the alleged debt to Midland Funding, LLC? If not, you might consider sending a debt validation letter. With a bit of research and legwork, you can attempt to do this on your own. If you'd like a free consultation with a law firm familiar with disputing debts, contact our team here at National Legal Center. If you are sure the debt is valid, can you afford payments to resolve or settle the account? Make sure any arrangement is affordable and doesn't leave you falling behind on other obligations. National Legal Center negotiates with companies like Midland Funding, LLC, and Midland Credit Management, Inc every day. Complete this short form to discover options to resolve debt with Midland Funding, LLC, and any other creditors you may have on your credit reports. Can Midland Funding, LLC sue me? Suggested image: 24330457 Yes, Midland Funding, LLC may be able to sue you for the debt you owe. A debt collection lawsuit is a scary situation to face, but it does need to be taken seriously. If Midland Funding, LLC sues you, seek legal assistance as soon as possible. National Legal Center offers a unique consultation specific to individuals facing lawsuits to discuss your case and determine the best course of action for you. Can I sue Midland Funding, LLC for debt collection harassment? Yes! If you believe your consumer rights have been violated, you have the right to take action. Numerous laws exist to protect consumers from unfair business practices, and this is especially true of the debt collection industry. The Fair Debt Collection Practices Act (FDCPA) is a federal law that prohibits debt collectors from using abusive, unfair, or deceptive practices when they collect debts. Collection agents walk a very fine line when trying to get a consumer to repay a collection account. Most collection agencies are cautious about following the laws that oversee debt collection industry. However, untrained or uncaring debt collectors can violate your rights. Among many other things, a debt collector may not: ● Share inaccurate information during phone calls ● Provide legal advice ● Lie about what type of legal action they can take ● Misrepresent the debt ● Pursue time-barred debt without proper notification ● Disclose your debt to third parties Protecting you Beyond the FDCPA While many consumer protection attorneys focus solely on the FDCPA, National Legal Center will always do our best to fully protect our clients. In addition to the FDCPA, NLC will evaluate your case to see if other consumer protection laws may apply to your situation. Your case will also be reviewed for violations of other consumer protection laws such as the: • Telephone Consumer Protection Act (TCPA) • Fair Credit Reporting Act (FCRA) • Electronic Funds Transfer Act (EFTA) • Truth in Lending Act (TILA) • State-specific laws, and more. If you've been harmed or harassed by a debt collector, #standuptodebt with National Legal Center. You may have the debt dropped entirely or be entitled to money compensation, among a number of other resolutions. Filing a Counterclaim to a Debt Collection Lawsuit If a representative of a debt collection agency has violated your rights and then files a debt collection lawsuit, you may be able to file a counterclaim against them. A successful counterclaim on a debt collection lawsuit can lead to many outcomes. For example, it may result in dismissal of the lawsuit brought against you, a waiver of the debt owed, removal of the account from your credit reports, money damages to you, and more. Should You Negotiate a Settlement with Midland Funding, LLC? When Midland Funding, LLC is contacting you about a debt, one option to resolve the debt is negotiating a settlement. A settlement is where you pay less than the total amount owed on the debt, either in a lump sum or over several monthly payments. Once you've paid the settlement, the account is reported to the credit bureaus as settled in full (or similar), and Midland Funding, LLC should not take further action. If Midland Funding, LLC has filed a debt collection lawsuit and you're considering settlement, things change a bit. Of specific importance is the timing of the settlement. For example, if the settlement occurs after Midland Funding, LLC issued a summons, you'll want to make sure you know whether the court hearing was canceled. If not, you may still be expected to appear in court, even if only to share the details of the settlement. If you settle a Midland Funding, LLC lawsuit after a judgment was entered, you'll want to have documentation confirming they will file a satisfaction of judgment with the court. While you can ask the representative at whatever law firm is handling the matter for Midland Funding, LLC, it's crucial to remember that they are not your attorneys! They represent the other party, so it's a good idea to be skeptical and confirm anything they tell you, because their job is to collect the most funds possible on the accounts they handle. Negotiating a settlement is an excellent way to resolve a debt. Just make sure to cross your t's and dot your i's. Tips for Negotiating a Settlement with Midland Funding, LLC. Here are some tips for negotiating a settlement with Midland Funding, LLC. These suggestions apply to any other debt collector, too! 1. Make a deal you can keep- Don't over commit yourself and fail to complete the terms of the arrangement. Only negotiate a settlement you know you can afford. 2. Get it in writing- Request a letter outlining the terms of the agreement, including the amount to be paid and the payment due date. This should be a non-negotiable as it is the only way to protect yourself from continued collections. 3. Follow the letter’s instructions- If the settlement agreement is $4,089.98, pay that, don't pay $4,089! If it is due by the 28th, paying on the 30th doesn't cut it —if you need an extension on a settlement, you also need a new letter. 4. Keep those documents-. If the account surfaces in the future, you'll be glad to have a copy of your settlement letter and proof that you paid it as agreed. How Can a Debt Settlement Attorney Help? Receiving a summons on a debt you owe to Midland Funding, LLC is a serious legal matter. It can lead to a judgment, wage garnishment, a lien against your home, and more. Your best move is to consider hiring a consumer protection lawyer familiar with debt settlement to protect your rights and ensure you aren't taken advantage and to prevent mistakes during the legal proceedings. Image suggestion: 55853776 If you decide to work with an attorney with National Legal Center, they’ll review your entire financial situation to develop a plan that is affordable for you and minimizes your legal risks. They may also identify alternate legal strategies to deal with the debt. Did you know a debt settlement attorney can help even if you're not facing a lawsuit? You don't have to wait until you receive a debt collection summons to begin working on a solution. Working with a lawyer familiar with debt matters can minimize the chances of a debt collection lawsuit happening in the first place. Contact Information for Midland Funding, LLC If you have an account that is owned by Midland Funding, LLC, it helps to know how to contact them. To obtain confident contact information, you may want to go to the company’s website, your credit report, or the Better Business Bureau. Below is the contact information for Midland Funding, LLC as well as Midland Credit Management. **Important** At the time of this article’s publication, Midland Funding, LC appears to be directing all inquiries and communication to Midland Credit Management. Be sure to verify payment instructions directly with any debt collection agency before making any payments. Midland Funding, LLC Phone: (800)296-2657 Midland Credit Management, Inc. Correspondence Information Phone: (877) 653-5193 P.O. Box 939069 San Diego, California 92193 Payment Information Phone: (877)420-0039 320 East Big Beaver, Suite 300 Troy, Michigan 48083 Dispute and Complaint Information Phone: (877)420-0039 Attn: Chief Compliance Officer P.O. Box 939069 San Diego, CA 92193 \ National Legal Center solves debt. Complete this short form to discover options to deal with a summons from Midland Funding, LLC and any other collections account you may have. Call today and let National Legal help you #standuptodebt once and for all. Are you struggling with debt? Use the form below to get in touch with us.

While some of these outcomes may not seem too bad, it’s important to keep in mind the big picture. Delinquent debt may hold you back from achieving financial goals, like buying a home or car, or lead to wage garnishment, bank levy, property liens, and more.

You can settle debt with Jefferson Capital Systems, LLC yourself or let our debt relief law firm lead the way. We’ll help you understand your options, resolve your debt and move on with your financial future. Either way, since the risk of debt can range from pesky calls to wage garnishment and seized property, it’s crucial to have a plan to deal with the debt.

How To Contact Jefferson Capital Systems, LLC (and not a scammer)

The following information is subject to change and should be confirmed by visiting their website directly. Jefferson Capital Systems, LLC presently lists its contact information as follows:

Address:

16 McLeland Rd
St Cloud, MN 56303

Phone Numbers:

(800)281-2793

FAQ’s: Settling Debt with Jefferson Capital Systems, LLC

Is Jefferson Capital Systems, LLC legit?

Yes, but don’t let your guard down. The Fair Debt Collection Practices Act sets the rules, and debt collectors still break them.

What is the Fair Debt Collection Practices Act?

The Fair Debt Collection Practices Act is a federal law that regulates the collection of consumer debt by debt collectors. A debt collector cannot call too early or late, use profanity, share false information, and more. 

Is Jefferson Capital Systems, LLC a law firm?

No, they are not a law firm and cannot file a debt collection lawsuit without retaining an outside attorney.

Can I settle with debt collection agencies myself?

Yes, you can settle debt yourself, but it’s important to be aware of the risks.

How can a debt relief law firm help?

Our debt relief law firm can negotiate settlements and payment plans with Jefferson Capital Systems, LLC. We may also request debt validation, stop collection calls, minimize wage garnishment risk, sue debt collectors, and defend debt collection lawsuits if necessary.

Will debt settlement show up on a credit report?

Debts settled with Jefferson Capital Systems, LLC may appear on your credit report with phrases like “Settled in Full” or “Settled for less than full amount owed.”

Schedule a Free Debt Consultation with National Legal Center

Rather talk another time? Complete this form to schedule your free consultation.

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National Legal Center is a tradename of the Law Offices of Fox, Kohler & Associates, PLLC, a NH law firm, PO Box 835, Candia, NH 03034. Rosanna Fox is admitted to practice law in NH, Arthur Kohler is admitted in MA. Results may vary based on the circumstances of your case. Not available in all states. This is Attorney Advertising Material and is not intended as legal advice.