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Thursday, October 19, 2006

How to fight back debt collectors

Have been reading up on a lot of articles related to debt collection. The debt collection agencies have become extremely aggressive lately in their collection efforts. They buy delinquent debt for pennies on the dollar from credit card and other agencies and then hound the debtors. In some cases, people have been paying them money even though they had already paid their debt off years ago or had not taken the debt in the first place.

From what I have read, one of the best thing seems to do is to keep records of all debts that you have paid off. This way, if you do get calls in future, you can prove that the debt has already been paid off. Well-know financial advisor, Rick Edelman has a good article on his web site regarding what documents to store and what to shred; here's the link:

Documents to Keep

posted by Ruby @ 4:57 PM

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