One of the most serious potential debt lawsuit outcomes is a frozen bank account, but there are limitations to this tactic. Aldo Ottaviani – Italy/Getty Images Dealing with old, unpaid debt isn’t just expensive; it can also be surprisingly frustrating. After all, when it comes to aging debt, the timelines for what can happen (and … Read more
While not every unpleasant interaction qualifies as harassment, some debt collector actions clearly cross the line. Hardollin/Getty Images Over the past few years, high borrowing costs, rising prices on essentials and other economic hurdles have forced many Americans to lean more heavily on their credit cards to cover their expenses. But as interest charges compound … Read more
There are several actions you can take to stop or reduce the calls you’re receiving from debt collectors. Andrii Dodonov/Getty Images The idea of debt collectors contacting borrowers about their unpaid balances is nothing new. That tactic has been used for decades to try to compel borrowers to pay what’s owed on their delinquent accounts. … Read more
Knowing what to do quickly if your bank account is frozen can make a major difference in how the issue unfolds. FrankvandenBergh/Getty Images Few financial situations feel more urgent than discovering you can’t access the funds in your own bank account. Whether it happens while trying to pay a bill, when you’re withdrawing cash or … Read more
A debt collector can garnish your bank account, but only up to what the law allows. Getty Images/iStockphoto Many borrowers assume that once a debt goes unpaid long enough, the worst a debt collector can do is damage their credit score. That assumption is wrong — and for the tens of millions of Americans with … Read more
If you’re being sued over unpaid credit card debt, you may have more leverage than the debt collector is counting on. Hanizam/Getty Images As credit card balances have swelled, debt balances have climbed and delinquency rates have ticked upward over the last few years. Debt collection activity has followed suit. Over time, most unpaid debt … Read more
Settling your debt for a very low amount requires patience and leverage, but there’s no guaranteed playbook for success. PM Images/Getty Images If you’ve stared at a credit card balance that you simply can’t pay off, you’ve probably done the mental math on whether you can offer the creditor a fraction of the balance and … Read more