Bankruptcy is not always the best way to get rid of federal tax debt. Given enough time, the tax may just go away. The IRS is given 10 years from the date the tax is assessed to collect in most cases by 26 USC §6502, a section of the Internal Revenue Code. The date after [...]
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New rules prohibiting unfair collection acts and practices will go into effect in 2010. The Federal Reserve Board announced last December the approval of these new rules to better protect credit card users. In the meantime, credit card companies are positioning themselves to try to lessen the impact on them of the new rules. For instance, credit card [...]
You can fight back against bill collectors. One man, from Parsons, Tennessee got so mad at a collection agency trying to collect an old debt that he decided to use some of their own tactics against the bill collectors themselves. Newschannel 5 in Nashville reports that Randy Falkner fought back. First Faulkner sent the collection agency a certified letter [...]
The New York State Attorney General’s office has issued warnings that certain tactics will not be tolerated by debt collectors in New York State. These include: Harassing or Abusive Tactics – threatening the use of violence; continuously calling you with intent to annoy or harass; using obscene language; or not disclosing their identity when they [...]
When your mortgage company begins the foreclosure process, they file what is called a “lis pendens” (Latin for “lawsuit pending”) with the county clerk’s office. This puts the public on notice that they are intending to foreclose on your home. In many areas of the country, you will start receiving mail from a variety of people [...]
