I have been in a debt resolution program since 2007, I had a lady come to my door trying to subpoena me to court. What do I do?
I have been in a debt resolution program since 2007. I have paid one credit card off. I have one more for $20,000. I had a lady come to my door trying to subpoena me to court. What do I do?
Bills.com has relationships with well-respected financial services companies that offer our customers a variety of products, such as mortgage brokerage, debt settlement, and tax negotiation.
If you are enrolled with the Freedom Debt Relief (FDR) debt negotiation program and are a FDR client, you need to contact the company's Legal Accounts Resolution Unit (LARU) as soon as possible so that they can explain the legal process, how it can affect your goals in the FDR program, and what steps FDR can take toward resolving the debt and preventing this legal action from causing you additional problems. You can reach FDR’s Legal Accounts Resolution Unit by calling (800) 993-8950. If you are unable to call, you can e-mail [email protected] FDR has experience helping clients in similar situations, and will almost certainly be able to work out a plan with your creditor to stop the lawsuit.
If you are not enrolled with FDR, you should contact the customer support staff with your debt resolution provider. They will help you reach your provider's legal department.
Before you call, read through any documents you have received pertaining to this lawsuit, and have the documents available when you call so you can provide the staff with any the information they need to begin working on this account.
I wish you the best of luck in resolving this debt, and hope that the information I have provided helps you Find. Learn. Save.
Mortgages, credit cards, student loans, personal loans, and auto loans are common types of debts. According to the NY Federal Reserve total household debt as of Q2 2022 was $16.15 trillion. Housing debt totaled $11.71 trillion and non-housing debt was $4.45 trillion.
A significant percentage of people in the US are struggling with monthly payments and about 26% of households in the United States have debt in collections. According to data gathered by Urban.org from a sample of credit reports, the median debt in collections is $1,739. Credit card debt is prevalent and 3% have delinquent or derogatory card debt. The median debt in collections is $422.
Each state has its rate of delinquency and share of debts in collections. For example, in Alaska credit card delinquency rate was 2%, and the median credit card debt was $518.
To maintain an excellent credit score it is vital to make timely payments. However, there are many circumstances that lead to late payments or debt in collections. The good news is that there are a lot of ways to deal with debt including debt consolidation and debt relief solutions.