What is Debt Consolidation
Credit Card Debt Consolidation
Medical Debt Consolidation
7 Tips About Debt Consolidation
Common Debt Consolidation Mistakes
Debt Consolidation
Risks of Debt Consolidation, Types of Debt Consolidation Loans, Pros & Cons
Balance Transfer or Debt Consolidation?
Debt/Credit Calculators
Discussion Forum
Credit Counseling and You
Non-Profit Credit Counseling
Consequences of Credit Card Default
Effects of Credit Card Default
9 Common Credit Card Mistakes
Eliminate Credit Card Debt in 90 Days
Credit Card Debt
10 Expenses You Can Not Afford If You Have Credit Card Debt
Truth About Credit Card Companies
Should I Tear Apart My $300 Limit Credit Card - The Worst Credit Card Ever?
Disputing Credit Card Debt
401k vs Credit Cards: Where to invest?
Debt Settlement Letters
Sample Letters
Write a Powerful Debt Validation Letter
Reputable Debt Settlement Agreement
Debt Settlement vs. Debt Consolidation
Dangers of Debt Settlement
Avoid Debt Settlement Pitfalls
Debt Relief Tools/Debt Management Programs
Debt Settlement FAQs
Is Debt Settlement Money Taxable?
Reduce Medical Debt
Free Bill Consolidation: Does it exist?
Budgeting to Stay Debt Free
10 Debt Reduction Mistakes
Should I Pay Off my Debt or Save Up for a Down Payment on a House?
Bill Consolidation
Three Secrets to Lowering Your Debt
Tips To Lower Your Bills
Government Debt Help
Debt Help During Recession
Debt Relief During a Recession
What Debt Relief Means
Pay Off $50,000 Debt
Worried About Bills?
Money & Debt Videos
Report Illegal Collection Activity
Managing Medical Bills
Medical Debt & Bankruptcy
The Facts on Debt
Debt Quotations
Drowning In Debt?
Who to pay first?
Managing Debt FAQs
Medical Debt Solution
12 Hot Tips for Eliminating Debt
7 Debt Elimination Mistakes
2 Ways to Achieve Debt Elimination - Debt Snowball Elimination Method
Payday Loan Consolidation
Payday Loan Debt Consolidation
Payday Loan Relief
Default on a Payday Loan?
Payday Loans | Consumer Information
Problems with Payday Loan Stores
Bad Credit Loan Relief
How Payday Loans Work
What is Loan Consolidation?
How to get a $50,000 loan
Get an $80,000 Loan
$100,000 Loan for Debt Repayment
Veteran's Home Loan Refinance Options
Government Loans vs. Private Loans
Finding a Government Loan
Student Loan Consequences
Reputable Debt Consolidation Companies
Debt Consolidation Company Reviews
Reputable Debt Management Companies
List of Debt Companies in USA
Debt Companies By City
How Debt Affects Your Credit
What is shown on my credit report?
Improve Your Credit Score
Correct Credit Report Errors
Can Debt Settlement Ruin Credit?
Can Debt Negotiation Ruin Your Credit?
401k Limits
Safe CD Rates
Financial Planning
Banks versus Credit Unions
AMEX Horror Stories
IRS Tips For Audit
Choosing a Tax Preparer
American's not planning for long term care
Understanding Usury Laws
Unemployed During A Recession
FREE Government Grants
Where does money really come from?
About Us
Contact Us
6 Payday Loan Debts Owe
Borrow a Loan to Pay Off Payday Loan?
My husband was out of his job and Payday Loans were rolling over

Debt Consolidation Facts

1. If you spend more than 50% of your credit limit every month, this indicates to the Credit Bureau that you do NOT have enough cash on hand to meet your monthly expenses. This will identify you as a high credit risk and will actually reduce your credit score by 60 - 70 points overnight (Fair Isaac).

2. If you miss 1 or 2 payments on your credit card debt, the issuing company will skyrocket your interest rate to a whopping 27% - 30%!

3. Out of a random sample of 3 million American consumers (included in Experian's National Score Index), 51% of them have at least 2 credit cards and 14% of them have 10 or more credit cards.

When does Debt Collection Turn into Harassment?

(July 1st, 2007)

debt consolidation questionDear 3DebtConsolidation.com:

I have a problem with debt collection agencies. Debt Collection agency #1 calls me claiming i owe them $200, so i dispute that debt and ask for a debt validation letter. They do not respond to my debt validation request, instead sell my debt to Debt Collection agency #2 and this whole pattern repeats itself. Every 5-6 months, i have to send out a debt validation letter to each of these collection agencies costing me lots of money and time. Is this called debt harassment and what can I do to put a stop to it?

I have contacted my state's Attorney General and he said that I have to file a complaint against each of these agencies, which doubles the amount of paperwork i have to do. Those collection agencies think by changing their name all the time and harassing me like this, I will eventually pay off this debt. However, I will not pay this wrongful debt!

Dear Charlie:

Charlie, by asking for a debt validation request each time, you are certainly doing the right thing. The problem in your case is that the debt collection agencies do not respond to your communication, instead use new tactics to constantly harass you. Since you have proof of a debt validation request letter, you are safe from any court judgements going against you. The next time a debt collection agency calls you, ask them for the Debt Collector's name, company and address. If they send you a letter, that's even better because all the company information will be on it!

Next, you should file a complaint with the Federal Trade Commission. This is the Commission that's responsible for enacting the laws put in place by the Fair Debt Collection Practices Act (FDCPA). Their address is:

Federal Trade Commission

Physical Address: Consumer Response Center, Washington, D.C., 20580-0001

Phone #: (877)-FTC-HELP

Website: www.ftc.gov

Next, send the debt collection agency that is harassing you a copy of your complaint to the Federal Trade Commission. This letter will definitely make the collection agency reconsider its harassment efforts against you, considering they could get into serious trouble if the Federal Trade Commission takes action against them.

I would also suggest the use of class action attorneys. Although a legal attorney would be too costly for your $200 claim, class attorneys look for patterns of abuse caused to the public. If your case turns out to be a series of debt collection agencies randomly abusing consumers across the country, this could become a class action lawsuit and the attorneys will not charge you for legal action. If these big class attorneys do not respond to your ideas, consider going to the Legal Assistance Office in your state. Their phone # can usually be found in the White Pages of your telephone directory.

Good Luck Charlie! Consider making a post to our forums (www.3debtconsolidation.com/forums) to see if our Forum members have any suggestions regarding this matter.