If your money is held at an online-only bank, are the rules different when debt collectors come calling? GaryAlvis/Getty Images For millions of Americans, online-only banks have become a practical alternative to traditional financial institutions. By offering big perks, like higher-than-average savings rates, lower fees and easy account management, these digital-first banks have attracted customers … Read more
The period after a garnishment judgment has been issued can be especially confusing for borrowers. Seng Kui Lim/Getty Images After months of collection calls, warning letters and legal notices, many borrowers assume the worst is over once a creditor takes them to court over their unpaid debt, which millions of Americans are dealing with in … Read more
A bank levy gives creditors the ability to seize funds from your account, but there are limits to this process. Michael Raines/Getty Images Rapidly rising inflation, elevated credit card rates and growing household debt burdens are putting more borrowers at risk of falling behind on their bills in today’s tough economic landscape. After all, it … Read more
Federal protections exist for Social Security recipients, but a lawsuit can still create financial complications. Getty Images/iStockphoto For millions of older Americans, Social Security income has become more than just a retirement supplement. It’s now the primary source of monthly income used to cover housing, groceries, healthcare costs and rising utility bills. With inflation rising … Read more
If you’re self-employed and in debt, a wage garnishment could be difficult, but that’s not the only threat you face. Juleta Martirosyan / Getty Images Household debt levels are significantly elevated as we head into mid-2026, as are the interest rates tied to the more common short-term borrowing tools, like credit cards. In turn, more … Read more
A creditor’s refusal to negotiate isn’t necessarily the end of the road, but it can limit certain paths forward. Krisanapong Detraphiphat/Getty Images As credit card rates remain high, balances climb and payment delinquencies tick upward, more borrowers are reaching out to their credit card issuers and creditors in hopes of negotiating lower balances, reduced interest … Read more
The rules around disability income and bank levies are more complicated than many people realize. Dragon Claws/Getty Images Rising credit card balances and climbing delinquency rates have had a big impact on the collections environment recently. With average credit card rates still hovering above 21% and household debt sitting at record levels, more borrowers are … Read more
All it takes is an unpaid debt and a judgment to trigger a bank levy, but you still have rights during this process. Pla2na/Getty Images Falling behind on your debt payments is stressful enough, but the credit damage and late fees that can come with it are hardly the only repercussions you may face. In … Read more