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Debt Collection Fees are Illegal

As badly as you may feel about being in debt, the debt collection people are not blameless in their efforts to get your dollars. Some debt collection agents have tacked on a collection “fee” that legally consumers don’t have to pay.axsmith-law-debt-relief-debt-control

“A debt collector is prohibited by law from using false, deceptive, or misleading representations or tactics when collecting a debt.”  See the Fair Debt Collection Practices Act.  So when a debt collector tells you that there is a debt collection fee, they are outright lying to you, and have violated the Fair Debt Collection Practices Act.

Addressing Debt

Although one good option might be to have automated regular monthly payments to take care of the debt, it is suggested that it’s better sometimes to save a lump sum of money and use that to either pay the entire debt, or negotiate a settlement. One would wonder of course, if you are a frequent debtor, would you be able to have the self-discipline to save the cash?
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The “Debt Snowball” is another method to pay down your debt.  It means sending a lump sum to your smallest debt, and then begin working on the bigger ones. You accomplish something, and you can use the leftover monies that you used to send to this debt as emergency cash…or start working on the next biggest debt!

Oprah Winfrey Give Information on Debt

We would have thought that Ms. Winfrey would be an unlikely source of debt freeing information, but she covers the basics well. 1.Get a second job. 2. Pay off at least ten bucks a day (Eight grand in 3 years) and our favorite…learn about your finances! Learn about the faults in your spending plan!

Much of this we’ve gone over before, but sometimes you hear it in a different way when it’s read in a different way. As Oprah is rich as Croesus, we might take some tips from her!

Phone Christine Axsmith at Axsmith Law LLC at (202) 285-5415 to get help with debt relief, debt collection issues and phone harassment by telemarketers.

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