There are different types of financial counseling one might needy. The truth is most people need financial counseling in one way or another, sometimes multiple ways. Whether it’s to make money or save money or not get penalized because of how the money is used, it can help to speak to a professional.
A common question asked about collection agencies is how long they have to collect on a debt. The simple answer is they can try to collect as long as they want to. After that answer, the truth get a lot more complicated.
The Fair Credit Reporting Act, which was enacted in 1970 and last revised in 2004, has rules for how long a bad debt can stay on a credit report. The statute of limitations for that is seven years. Afterwards, a collection agency could decide to still try to collect from the debtor, but they have no power behind them to make a debtor pay them anything. Almost no collection agencies will contact debtors after this time limit, because it’s a waste of their time. Continue reading How Long Do Collection Agencies Have To Collect On A Debt?→
We probably should have produced this article much earlier than now. But like pretty much everyone else, life gets in the way and our thoughts turn towards many other things. Still, the tips we’re going to give are still available for everyone to do, because unfortunately the pandemic isn’t ending any time soon.
1. Contact some of your creditors and ask for either an extension or adjustment on your monthly payments.
Even if you’ve been able to hold out this long, there’s still a chance that your finances might leave you in a dangerous place. One thing you can think of doing is picking up the phone and speaking to some of the major companies you owe money to and asking them for relief. Continue reading 3 Ways To Protect Yourself Financially During The Pandemic→
We ask that question because a great number of people have absolutely no idea how or where they spend their money. This ends up with folks looking at their bank statements wondering where their money went, and sometimes leads them to either overdraw on their bank accounts or go over the limit on their credit cards.
The previous article we published, 7 Financial Issues To Discuss With Elderly Family Members, was crucial to figuring out what’s important as family members get older and need to gain more control of their future. Although that article was specific to elderly family members, some of those issues are the same that couples, or those who are thinking about becoming couples, need to think about.
Unfortunately, not everyone who gets married stays married, and these days even people who don’t get married but decide to live together as a couple end up having to deal with financial decisions on the back end that they never considered. It rarely ends pretty, so thinking about things like what’s below makes a lot of sense before mistakes are made that can’t be fixed. Continue reading Financial Issues Couples Should Discuss→
Accounting & Financial Advice from the Syracuse NY area
