debt – FPW

Medical Bills and Debt Collection

April 30, 2022May 12, 2022Unknown

$88 billion of outstanding medical bills are currently in collections – affecting one in five Americans. My own academic research at Utah State University and that of University of Utah Economics Ph.D. Levi Pace revealed that medical bills were a major cause of personal bankruptcy filings in Utah. Similar research in other states confirm our…

Have you ever heard of "debt parking"?

December 15, 2020January 26, 2021Unknown

It’s ‘Debt Parking’: When Fake Debts End Up on Your Credit Report “The F.T.C. recently took its first legal action to stop the fraud. Consumers may not know the debts are on their reports until they apply for a loan.” Thanks to The New York Times writer Ann Carrns for exposing this despicable practice by…

Mounting car debt traps more drivers

November 11, 2019December 16, 2019Unknown

Look at all those huge shiny new pick up trucks and SUVs on the roads these days! Are Americans really that affluent? Not really. How could it make sense to buy a $27,000 vehicle with a $45,000 loan? No I did not mix up the numbers as reported by AnnaMaria Andriotis & Ben Eisen on…

Debt Collection Lawsuits

January 31, 2018March 30, 2018Financial Planning For Women

Are you facing a debt collection lawsuit? “In the last five years, there have been over 330,000 debt collection If you don’t respond to a lawsuit within 21 days, the judge will accept everything in the complaint as true.” lawsuits filed in Utah. Over 98% of those sued don’t hire an attorney. And most don’t…

Debt Collection help from the Consumer Financial Protection Bureau (CFPB)

March 23, 2017March 30, 2018Financial Planning For Women

“In the United States today, debt collection is a $13.7 billion dollar industry with more than 6,000 debt collection firms operating in the United States. The CFPB estimates that about one in three consumers, more than 70 million people, were contacted by a creditor or collector seeking to collect a debt within the past year.…

What Happens to Your Credit Card Debt After You Die?

October 31, 2016March 30, 2018Financial Planning For Women

“When examining a loved one’s credit cards, it’s crucial to know whose names were associated with the account. If there was only one name on the credit card account – that of the deceased – the debt may belong only to that person,” according to Matt Schulz writing for USNWR. “When you die, your estate…

6 Unusual Ways to Get Out of Debt

September 13, 2016March 30, 2018Financial Planning For Women

“Driving for Uber, pet sitting through Dog Vacay and doing odd jobs through Task Rabbit are all options to pick up extra money” according to Andy Smith, a certified financial planner. Maryalene La Ponsie describes the pros and cons of other creative way to find money to pay off debt. Her article includes links to…