Debt - Part 2

Statue of Limitations on Collecting a Debt?

Dear Melissa, I have a few questions if you don't mind answering. I received a letter from a collection agency requesting I pay them a bill that they say I owed. I had no recollection of this bill and began to question the validity. They informed me it was from an ol Read more...

Questions About Collections: Statute of Limitations on a Credit Report

Dear Melissa, I have a question regarding a credit report I recently pulled. I found one key derogatory (KD) item from a collections agency that claims I owe in excess of $7,500. Now, I'm quite responsible with my debts, I'm nearly debt free, and the only thing I Read more...

Questions About Collections: Chapter 7 Bankruptcy

Dear Melissa, Once you have had your debt discharged in a Chapter 7 and it included the collection company and account number, can the original company you owed come after you for repayment? Faith N. Dear Faith, Absolutely not. Once an account is included in a C Read more...

What Happens to My Debt When I Die?

Does your debt just disappear when you die? What happens to all of your credit cards, car loans, student loans, and mortgages when you, or a loved one, dies? How do you deal with debt collectors and which debts are you responsible for? If the debt was only in your Read more...

Questions About Collections: Breaking a Lease

Dear Melissa, Thank you for being available for assistance on this nagging question. I am writing because I lost my job and am forced to move from my current home in Florida back up north on 10/1 and gave my notice to leave my lease/apartment w 60 days (per the le Read more...

Questions About Collections: Insurance Companies

Dear Melissa, I have a question for you regarding debt collection and insurance companies. Are you aware of whether an insurance company has an obligation to inform the insured that they are being turned over to a collection agency? I did not find anything to that Read more...

Beat the Lenders at Their Own Game

This article is part of our 52 week journey through Bill’s latest book, The Graduate’s Guide to Life and Money. Each week, a full excerpt from his book will be presented from beginning to end. To get your copy of his book, visit www.TheGraduatesGuide.com. Payoff Read more...