The statute of limitations (frequently abbreviated SOL) is a defense available to debtors that, when successful, defeats debt collection attempts by creditors.  The purpose of the statute of limitations, which is set out in various state and federal statutes and applies to many different types of civil and criminal litigation in addition to lawsuits over [...]

Phone calls are a favorite tool of debt collection agencies.  They are annoying.  They may catch you offguard or create an awkward situation.  They don’t provide you the time to think through what the call is about.  And they offer collectors a quick and easy form of direct contact without the hassle of knocking on [...]

Debt collectors in the United States are pretty annoying - but at least they are governed by a set of rules and regulations that put some restraint on their actions (and hopefully their conscience).  If you are in the unfortunate position of receiving phone calls from your creditors, things could be worse.
You could be in [...]

I wrote a brief post a couple weeks back about how banks and credit card companies might begin declaring and exercising a right of offset, particularly on its business customers.  If you don’t remember the post, it discusses how banks are increasingly seizing funds in the bank account of debtors who have business credit cards.  [...]

The San Francisco Chronicle noted that credit card companies are sometimes taking the collection of credit card debt that is in arrears into their own hands.  No longer waiting for consumers to bring the account up to date on their own because of the threat of a damaged credit report or litigation, the credit card [...]

The scope of governmental inquiry into credit card practices continues to widen.  CompuCredit (and the two banks issuing the credit cards they marketed) have been charged by the Federal Trade Commission and the FDIC with deceptive credit card marketing.  The marketing failed to adequately disclose upfront fees associated with the credit cards, which were primarily [...]

The Christian Science Monitor has an article today about a second chance for subprime borrowers to establish good credit through debt collection company Genesis Financial Solutions credit card that provides normal interest rates on new debt and zero interest on old credit card debt.
This is an interesting manner of debt consolidation for credit card borrowers [...]