If you believe you do not owe the money, contact the creditor in writing and send a copy to the collection agency informing them with a letter not to contact you.A debt collector may not: Report any problems you have with a debt collection company to your State Attorney General's Office, the Federal Trade Commission (FTC), and the Consumer Financial Protection Bureau (CFPB).To find out if you qualify, contact your local Armed Forces Legal Assistance office.
You can find free or low-cost credit counseling options at: The Servicemembers Civil Relief Act (SCRA) assists active-duty military with financial burdens.
Under this act, you may qualify for a reduced interest rate on mortgages and credit card debts. It can also delay civil court including bankruptcy, foreclosure, or divorce proceedings.
Before you consolidate, talk to a qualified credit counselor.
You may be able to lower your cost of credit by consolidating your debt through a home equity loan or home equity line of credit.
These debts can include credit card bills or loan payments.
If you have multiple credit card accounts or loans, debt consolidation can help simplify or lower your payments.This includes money owed on personal credit card accounts, auto loans, medical bills, and mortgages.The FDCPA does not cover debts incurred in running a business.It's important to keep in mind that these are secured loans that require you to put up your home as collateral.If you’re unable to make payments on time, you could lose your home.The Fair Debt Collection Practices Act (FDCPA) prohibits debt collectors from using abusive, unfair, or deceptive practices to collect from you.