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November 2013 Archives

Why is debt collection such a profitable business?

For anyone who owes money in Manchester, paying down those loans and debts may seem impossible. No matter how much an individual earns, the interest on the bills grow, making the balance just out of reach. Eventually, some people will be able to pay off their debts, but others will need to turn to a debt relief lawyer for help. There is nothing the matter with seeking help on overwhelming debts, and it can actually help prevent some of the negative consequences associated with unpaid bills.

For those with medical debt, debt collection rules need an update

In 1977, Congress enacted the Fair Debt Collection Practices Act, a law designed to protect consumers from creditor harassment. The law has dictated what creditors and credit collection agencies can do, but as technology has changed the law is not as relevant as it used to be. Take, for example, using text messages to contact consumers. There is nothing in the 1977 law that prohibits credit collection agencies from using text messages, which is just one reason why the Consumer Financial Protection Bureau has announced that it plans to revise debt collection rules.

Atlantic Club Casino is in distress

In New Hampshire's neighboring state of New Jersey, the Atlantic Club Casino is on the verge of bankruptcy. This casino, located on the boardwalk in Atlantic City, opened in 1980. It was once called the Golden Nugget and then the Atlantic Hilton. Owned by Colony Capital LLC, it is one of the smallest casinos in Atlantic City.

Mortgage relief running ahead of schedule

Five banks were accused last year of using faulty documents for evicting homeowners. The banks settled the case by an agreement to provide $38.7 billion in relief to homeowners. Twenty-five billion of the funds was to be used to help homeowners that were in a housing crisis situation. The program appears to be going forward, even ahead of schedule. However, only about 80 percent of the funds have been used so far.

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