The Debt Lawyers Blog
Publications on student loan debt, credit card debt, credit report errors and more.
Does It Make Sense to Pay Student Loans During COVID-19?
Regardless of the current or coming health effects of COVID-19 for you and your family, the pandemic has likely taken a toll on your household finances. It’s no mystery that, while the coronavirus has impacted the safety and wellbeing of communities across the world, it has also strained economic resources, shuttered businesses, and left millions...
Attorney General of NY Sues Merchant Cash Advance Companies for Fraud
In June, New York Attorney General Letitia Jones filed a lawsuit against three merchant cash advance companies: Richmond Capital Group, Ram Capital Funding, and Viceroy Capital Funding. In a press release, Jones described that the three companies were offering illegal loans to their clients. The state is charging these companies with imposing...
What Are the Most Common Violations of Fair Debt Collection Laws?
If you fall behind on your bills or have accumulated debt, you may be contacted by a debt collection agency. Debt collection agencies collect delinquent debts, which are bills that are not paid for by their due dates. Common debts that third-party agencies chase after include credit card purchases, medical bills, and student loans. Debt...
Find Out Why U.S. Credit Card Debt is Rapidly Decreasing
The COVID-19 pandemic has brought about a host of hardships and changes. Rapid declines in credit card debt are just one of the many effects of pandemic-caused financial insecurity. In response to widespread economic uncertainty, consumers are spending less and thinking twice before accumulating new debt. In February, the Federal Reserve reported...
When Does a Debt Collection Effort Become Harassment?
If you are behind on bills or credit card payments, you might get a call from a debt collector. Unfortunately, debt collection harassment and abuse are fairly common. In response to complaints of unethical communication methods and manipulative tactics used by debt collectors, Congress passed The Fair Debt Collection Practices Act (FDCPA). The...
What Are the Worst Ways to Pay Off Student Loan Debt?
Without an advanced degree, it is hard to earn a livable wage. In America, college graduates earn 80 percent more than those who only have a high school diploma. College is more expensive and important than ever before, which puts students in a difficult dilemma. The choice to attend college is accompanied by the risk analysis of getting a...
What is a Balance Transfer and Should I Do One?
If you are in over your head with credit card debt, it is easy to feel stuck. Specifically, if your credit card has a high interest rate, it can be difficult to make progress paying it down. If you are struggling to pay off your debt, one option is to consider a balance transfer. Balance transfers involve moving your outstanding debt from your...
How to Avoid Financial Scams During COVID-19
Scammers are taking advantage of the COVID-19 pandemic to con people into giving up their money and personal information. Though the phone script is new, the strategies are familiar. In addition to taking preventive measures towards your health and finances, it is important to educate yourself on the techniques scammers are using during the...
Tips for Protecting Your Credit Score While Enduring COVID-19
In the wake of the COVID-19 pandemic, millions of Americans are struggling to pay their bills, take care of their health, and make ends meet. An added complication to the COVID-19 crisis is credit. In March, Congress passed the Coronavirus Aid, Relief, and Economic Security Act with the goal of providing essential protections to Americans. Aimed...
