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  • The Fair Debt Collection Practices Act
    From time to time, many well meaning borrowers fall behind on their bill payments. It may be that the borrower has lost his or her job, has run into unexpected expenses or has simply borrowed more money than he or she can afford to repay. Whatever the reason, many borrowers who fall behind in their payments begin to receive phone calls from persistent debt collectors. Often, … more
  • Charging Off a Bad Debt: How, When and Why to Do It
    For many creditors, the frustrating reality is that it costs money and it takes time to recover the money that is legally owed to them if a borrower stops repaying a loan. The costs of debt recovery can be significant. Foreclosure, for example, can be expensive and take over a year to complete in some states. Therefore, many businesses choose to write off their bad business … more

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