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The Fair Debt Collection Practices Act, more commonly referred to as the FDCPA, is a USA laws that is designed to protect consumers who have creditors who are attempting to collect a debt from them. It has several features that are designed to accomplish this.

One of the most important things the FDCPA does is provide consumers with a way of disputing debts that they don’t feel they owe to supposed debtors. It also gives a way for consumers to keep track of debts they are responsible for. The FDCPA has teeth. There are penalties that can be applied to companies who break the fair debt collection act.

If the creditor is represented by an attorney, they cannot be contacted without violating the act. There are also specific hours set up that a creditor can contact a debtor. If attempts at contact are made outside of these hours, they are in violation. Creditors are also banned from publishing the consumers name on a ‘debt list’, contacting the consumer after the consumer has asked for validation of the debt and using abusive or profane language.

rickh :: Sep.29.2008 :: Finance :: No Comments »

Chapter 7 Bankruptcy - File Chapter 7 with the largest U.S. bankruptcy law firm, Legal Helpers. Receive a free online consultation. Completely eliminate your debt once and for all.

In a Chapter 7 Bankruptcy the creditors do have the option of denying a discharge of the debt. If this happens, you will be liable for the debt until it is paid in full. A debt that is not discharged will stay with you until you pay it, you cannot file bankruptcy on that debt in future years. Once all your debts are discharged and forgiven, the chapter 7 bankruptcies will stay on your credit record for seven to ten years as a discharge.

judyh :: Aug.26.2008 :: Business, Finance :: No Comments »

In order to understand the business of commercial real estate loans, it’s important to note the differences between commercial financing and residential financing. Residential loans focus on single family or perhaps 2 to 4 unit housing.

Commercial real estate loans may not have slightly lower returns, but the investment is more solid. That is particularly important for businesses sitting on more liquid assets than they are comfortable with.

judyh :: Aug.25.2008 :: Finance, Real Estate :: No Comments »

Since residential loans are smaller, there are naturally more institutions able to compete in the market. But commercial financing products usually involve very large amounts of money, so many small institutions can’t keep up. This shrinks the number of competitors and means less competition in the market, and less competition for borrowers. While stockholders and management of the big banks can benefit from taking advantage of this natural working of capitalism, the little guy gets less service and higher costs. East Coast Commercial Finance offers a very attractive alternative.

judyh :: Jul.29.2008 :: Finance, Real Estate :: No Comments »