The number of potential violations of law, court procedures, and common human decency that the owners, managers, and employees of collection agencies have been caught engaging in is almost endless. Homeowners facing foreclosure, consumers considering bankruptcy, and even families attempting to pay back loans but who have fallen on hard times should be aware of these tactics in order to recognize them as the violations they are.
It should come as no surprise that the vast majority of people who fall behind on debt payments do so for financial hardship reasons -- not because they are simply deadbeats. Despite, this, however debt collection agencies often take steps to inflict the maximum amount of anxiety, fear, and embarrassment on borrowers who fall behind on loans, going so far as harassment and engaging in other illegal acts.
Expert Author: Carys Robsha
Debt is fast becoming a problem that is affecting all classes, with easy credit available to everyone, whatever their income. Loans for thousands of pounds were regularly approved for people with little or no income, while wealthier applicants had access to even larger sums.
Expert Author: John Schnieder
How gas station owners can finance or re-finance gas station real estate. Most banks don't want to lend on this type of property because they do not understand this business. Kendall Schnieder has been in the commercial real estate finance business since the mid 90's and has a very close working relationship with some very aggressive banks.
Expert Author: Buddy Blake
This program from Fannie Mae offers financial aid for people with disabilities, or for those who share a residence with a person that has a disability. Its primary goal is to help buyers purchase a home that offers greater accessibility, or to retrofit their current abode.
Expert Author: Paul Tobey
Due to the numerous layoffs happening left and right, a lot of people are wondering how to invest small amounts of money, and get profit returns. Those who invest small amounts of money correctly are proven to live better lives in the long run. The recent crash of the giant, "too big to fail", companies, made the small to medium businesses backbone of the all economies.
The Boston Federal Reserve Bank has examined two of the leading causes of foreclosures across the nation, and neither of these causes are the often-cited "unaffordable mortgage payments" due to adjustable rate loans.
A growing trend during the current depression is squatters moving into bank-owned homes and living in them rent and mortgage free. Although this seems astounding, with the inflated real estate bubble not yet completely burst, banks reluctant to recognize losses on such properties, and so many empty homes available, it was a likely result of the collapse.
Expert Author: Devora Witts
Default is not necessarily a bad word, but it makes a blinking red light flash in front of your eyes. After default, comes foreclosure, but wait a minute... you still have a rifle full of bullets to shoot off the vultures. Let us see what alternatives there are and what the outcome may be.
Expert Author: Mildred A Parker
Britain’s personal debt crisis has rocketed to the extent that six out of ten borrowers would default on loans and credit cards in just three months of losing their job. With more budgets feeling the squeezed, many people are likely to fall behind on payments, and companies will seek out debt collectors to recover their costs.
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