Established in 1953, Midland Funding is one of the oldest and largest debt buyers. It purchases portfolios of delinquent accounts from creditors for a percentage of the debt value, then pursues repayment of those debts. It’s owned by Encore Capital Group, one of the few publicly traded debt-buying companies in...
What are the differences between debt relief & bankruptcy?
Bankruptcy is not necessarily the villain of a debt recovery story. At times, it can be the right solution that gives a consumer a chance to start over. However, like all debt relief options, there are pros and cons. Comparing bankruptcy to these other options can help you assess the...
This man paid off $46,500 in student loans in two years with this one simple trick
If Steven Donovan could sum up his thoughts on taking out loans to pay for his education, it would be “nonchalant.” “I understood it as, ‘I want to go to school, so I’ll need to take out loans,’” said the author and founder of Even Steven Money. He planned to...
Collection law firms: Things could be about to get real
So you’ve received a notice from a collection law firm that it has been assigned your account. This no doubt feels like a serious matter, and, honestly, it is. But you are not powerless — you still have ways to reduce your risk of being sued. You can also use...
How much does it cost to file bankruptcy?
Let’s be perfectly honest: If bankruptcy is among your considerations for fixing your financial situation, the associated cost of filing likely aren’t significant enough to keep you from doing so. Still, it’s good to understand what costs are involved so there aren’t any surprises. This article will walk you through...
How this couple crushed their debt (and how you can, too)
While taking the train home from work last spring, Amber Hacker stumbled on a Facebook post that changed her life. “It was one of my MBA classmates who had posted that they had paid off all their loans. I thought, ‘Wait a second, you can do that?’” she says. “I...
Getting married? How to talk about debt before you say I do
You’re in love. You’re planning to get married. Ready to talk about money? Apparently 88% of Americans think that conversation is important, but only 51% ever get around to having it, according to a SunTrust survey. There is a long-standing taboo about money talk in this country. And although two...
7 celebrity bankruptcies and what you can learn from them
Tax man troubles. Bad investments. Shady financial advisers. Lavish spending. These are some of the pitfalls that lead the rich and famous to file for bankruptcy. Here are seven of the most famous celebrity bankruptcies. Most famous folks end up filing Chapter 11 bankruptcy, a much less common form (6,891 filings...
How to file Chapter 13 bankruptcy
Hopefully, if you’re reading this, you’ve looked into different ways to resolve your debt woes before jumping straight to bankruptcy. For most people, these debt relief options include debt settlement, debt management, and even debt consolidation if your finances aren’t too far gone. But if you're considering Chapter 13 bankruptcy,...
How long after bankruptcy can I buy a house?
So you’ve declared bankruptcy at some point in the recent past and now you’re wondering when you can buy a new home. The simple answer to this question is, well, simple: Whenever you want. There aren’t any specific laws limiting your ability to buy a home at any point during...
Can your debt cause you to lose your tax refund?
If you’re expecting a tax refund, you probably already know how you’re going to spend it. But there’s a chance your refund won’t hit your mailbox or your bank account at all if you’re behind on certain debts. Here's how your debt can cause you to lose your tax refund....
The difference between debt management & debt settlement
If you’re experiencing the weight of credit card or loan debt and are falling behind on payments, you may be exploring your debt relief options, such as debt settlement or debt management. How do you decide which is best for your situation? Here are the differences between them. First, two...