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30th July 2008

Collection Agencies: Get Everything in Writing!

I never cease to be amazed by the outright lies of collecton agencies and the creditors they represent. Recently I discussed how do deal with a collection agency with a certain reader. She was trying to settle a debt for her daughter and I gave her some advice about how to conduct the debt settlement [...]

posted in Collection Agencies, Personal Finance | 1 Comment

20th June 2008

The Fair Debt Collection Practices Act

I decided to create this article to assist readers in understanding the Fair Debt Collection Practices Act by highlighting the most relevant sections in an easy to understand format.  The purpose of the FDCPA is to protect consumers against abusive collection tactics and create some guidelines of conduct for both creditor and debtor. I’ve read over this [...]

posted in Collection Agencies, Personal Finance | 5 Comments

14th May 2008

Tell Debt Settlement Co’s to Kiss Your Ass

I’ve wanted to get some first hand information about why using debt settlement companies is such a bad idea.  I was glad to discover that one of my previous articles “How to settle your debts on your own” was dead on regarding why consumers should avoid using debt settlement companies.  I’ve been exchanging emails with one of my readers who [...]

posted in Collection Agencies, Personal Finance | 1 Comment

31st March 2008

Can you go to jail for not paying your child support?

Time in prison is just one of many possible consequences of failing to pay your child support.  Recently I came across this on the U.S. Department of State website which states that if you are behind on “child support payments in excess of $2,500, you are ineligible to receive a U.S. passport. If this applies [...]

posted in Collection Agencies, Personal Finance | 16 Comments

31st March 2008

History of U.S. Credit Cards

It’s estimated that the average American family has eight different credit card accounts.  How did this happen?  Having just watched the Frontline special “Secret History of the Credit Card“, I was quite amazed at the evolution of the modern Credit Card Industry.  It seems that South Dakota was the State where the credit card industry [...]

posted in Collection Agencies, Personal Finance | 5 Comments

8th December 2007

Sample Debt Validation Letter

This is a sample letter of an accused debtors request for validation of debt from a collection agency. The Fair Debt Collection Practices Act doesn’t apply to original creditors such as Bank of America, Citibank, Capital one, and Discover Card. A validation letter is used when the original creditor has sold or assigned the debt [...]

posted in Collection Agencies, Personal Finance | 12 Comments

8th December 2007

How to deal with Collection Agencies

Handling Collection Agencies because of debts you’ve failed to pay can be intimidating. The outcome will depend on you. The level of action one can harness is different for each and every individual. DebtPrison.net does not administer legal advice. The information provided here is readily available online at various websites and discussion groups across the [...]

posted in Collection Agencies, Personal Finance | 47 Comments

8th December 2007

Can you go to jail for not paying your credit card debt?

Many people have emailed me asking if they could go to prison for not paying their credit card debt. It seems that some collection agencies are trying to intimidate debtors with the threat of arrest and imprisonment. A collection agency representative might comment “if you don’t start making payments on this we can take you [...]

posted in Collection Agencies, Personal Finance | 98 Comments

10th November 2007

How to settle your debts on your own

Many people today are considering settling the amount of credit card debt they possess. An industry of organizations and companies has built up around America’s overstretched wallets. Currently consumers in the U.S. are up to $915 billion in credit card debt, most likely you are a contributor. It is my personal belief that lack of [...]

posted in Collection Agencies, Personal Finance | 28 Comments

19th October 2007

Reasons not to file bankruptcy or settle your debts

When all the money you make each month isn’t enough to pay your minimum payments it can be quite disheartening. Your thoughts may drift into the worlds of bankruptcy and debt settlement. I remember in the summer of 2005 not being able to make ends meet and not sleeping well. My phone was ringing off [...]

posted in Collection Agencies, Personal Finance | 10 Comments







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