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If you’ve stopped paying a debt, your creditor could sue you and try to get a judgment from a court. Once this happens, the creditor could request that the court garnish your wages or your bank account to pay back the debt. If you’re already struggling to keep up with your financial obligations, wage garnishment […]
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If you’ve been contacted by a debt collection agency about a debt you may owe, it’s important to understand your rights. Debt collectors are required by law to validate certain details about the debt in question to help you determine whether it’s really your responsibility. Debt validation letters provide these details, along with instructions on
What Is a Debt Validation Letter? Read More »
Skimpy hospital gowns, painful shots and subzero temperatures in your doctor’s exam room aren’t always the worst part of getting medical treatment. Receiving a hefty medical bill after a doctor or hospital visit can be an especially bitter pill to swallow. In addition to depleting your bank account, medical bills can affect your credit if
Can Medical Bills Hurt Your Credit? Read More »
It’s possible that paying off a collection account will increase your credit score, but that largely depends on the version of the software used to calculate the score. Here’s what you need to know about how paying off collections could impact your credit. What Are Collection Accounts? A collection account is an entry on your
Can Paying Off Collections Raise Your Credit Score? Read More »
Repeated calls from debt collectors can quickly become annoying. In fact, tens of thousands of consumers every year are seemingly so annoyed that they lodge formal complaints. In 2022, the Consumer Financial Protection Bureau (CFPB) fielded roughly 115,900 complaints about debt collection. So, how can you keep a debt collector from reaching out to you?
Can You Ask Debt Collectors to Stop Contacting You? Read More »
Dear Experian, How long after paying off something in collections should it take to show paid on your credit report? – CLA Dear CLA, When you pay off a collection account, it could take a month or two before you see the change reflected on your credit report. The collection agency needs to update their
How Long Before My Collection Account Is Updated? Read More »
