TheStreet.com is reporting that bad credit could end up costing you around $1 million during your lifetime. For people with poor credit scores, the added cost of borrowing could exceed $1 million USD over a 30 year period. Source: Your Bad Credit Could Cost You $1 Million
Credit & Collections
Before you spend hundreds of dollars on a ‘credit repair’ service, you owe it to yourself, your wallet and your credit rating to read this Federal Trade Commission fact sheet on credit repair. According the the FTC, self help may be your best option for improving your credit score. The FTC credit repair fact sheet […]
Congress mandated that consumers have access to their credit reports free of charge in the Fair and Accurate Credit Transactions Act of 2003. For anyone concerned about their credit rating, identity theft or their credit history, it is advisable to get a free copy of your credit report. In addition, pulling a copy of your […]
Mises.org has published a very good defense of debt collectors and the debt collection industry. You can read the article @ In Defense of Debt Collection.
This article in the Star Telegram does a good job of answering a consumer’s question, “Can debt collectors call neighbors?” The article gives some very good information that debt collectors should remember and follow in order to keep themselves and their employers out of legal trouble. From the article — The answer, in this situation, […]