Learn

Portfolio Recovery Associates: What You Need to Know

Portfolio Recovery Associates (PRA) is one of the largest debt collectors, and has been in business for 23 years. It is also a debt buyer. This means that it purchases portfolios of charged-off accounts from creditors and attempts to collect payment from the consumers who owe the debt. Debt buyers…

Cavalry Portfolio: What You Need to Know

Established in 2002, Cavalry Portfolio is a large debt buyer that positions itself as caring for the consumer. The website outlines core values, prioritizing integrity, respect and communication, and links to the consumer education page of the Receivables Management Association International website. Cavalry also uses consumer-friendly language, such as calling…

LVNV Funding/Resurgent Capital: What You Need to Know

LVNV Funding is a large debt buyer that purchases delinquent accounts domestically and internationally from original creditors and  other debt buyers. The collections on those accounts are outsourced to Resurgent Capital Services LP, a third-party debt collector. Resurgent itself may outsource the accounts to third-party collection agencies. When debt changes…

What is a debt buyer and why should you care?

Buying debt is a big business. Gaining ground in the savings and loan crisis of the 1980s-90s, debt buyers today primarily deal with delinquent credit card accounts, and defaulted personal loans. In the last few years, guidance on debt selling from the Office of the Comptroller of Currency and actions…

Midland Funding/Midland Credit Management: What You Need to Know

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…

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…

The difference between debt management & debt settlement

If you’re experiencing the weight of credit card and loan debt and are falling behind on payments, you may be considering debt relief solutions. Among your options are debt settlement and debt management, but they are very different approaches. How do you decide which is best for your situation? Two…

What are debt settlement programs?

If you’re in debt, you’re certainly not alone. The Federal Reserve estimates that Americans have over $4 trillion in consumer debt. However, if the debt feels like a hole that you may never be able to dig yourself out of, you may be considering a debt settlement program. Is debt…

How Long Does Debt Settlement Stay on Your Credit Report

If you’re thinking about settling your debt — essentially negotiating with your creditors to pay off your debt for less than what you owe — be aware that making a settlement  doesn’t mean your debt disappears from your credit report. In most cases, a settled account remains on your credit…

How to negotiate credit card debt settlement by yourself

If you find yourself crippled by credit card debt, having racked up charges that will be hard to  pay off, you might be able to settle your accounts with your lenders for less than what you owe. And you might not need a debt settlement company to do it. Settling…

How to settle credit card debt before going to court

The best defense against being sued for credit card debt is, of course, to pay your debts before that happens. That doesn’t necessarily mean paying them in full or right away. But even if you’ve already received notice of a lawsuit, it’s not too late to settle your credit card…

How Does Debt Settlement Affect Your Credit Score

If you’re considering settling your debt or already in the process, you no doubt want to know  how debt settlement will affect your credit score. The answer depends on a number of factors. Debt settlement will hurt your score, but that might be acceptable to you, especially if you have…

How long does it take to rebuild credit after debt settlement?

If you’re thinking about settling your debt, or in the process of doing so, you’re probably looking forward to having that financial weight taken off your shoulders. You might also hope that your credit score will rebound quickly once you settle your debts. Debt settlement, though, won’t improve your credit…

What is debt settlement?

If you’re finding that your debt has become unmanageable, you may be looking at options for paying it down or resolving it altogether. One approach is to establish a debt settlement plan. This isn’t always the right solution, though, so it’s important to assess your financial situation, understand the risks…

How to Settle Credit Card Debt

The typical American  household is carrying average credit card debt of $9,333 according to recent research. If you’re among them, you  may be dealing with overwhelming debt and looking for a viable solution. Fortunately, there are several options for resolving your debt  and debt settlement may be one of them.…

How to settle with a debt collector

If you’ve fallen behind on a debt, and the debt collectors are calling, you’re probably under a lot of stress. It’s important, though, not to panic and to come up with a plan of action. The first thing you should know is that you can negotiate. Debt settlement is one…

How to settle debt & remove it from your credit report

Settling debt is essentially coming to an agreement with your creditors to pay back part of what you owe and be forgiven for the rest. If you’re at the stage of considering settling debt, then you’ve already missed several payments, probably months worth, which takes a toll on your credit.…

How to settle IRS debt by yourself

Taxes aren’t exactly a fun part of life, and they certainly aren’t optional. If left unpaid, your tax bill can balloon and cause a huge financial headache, one you might not be able to easily dig your way out from. If you don’t pay your taxes when you file, you’ll…

Debt settlement vs. bankruptcy: Which is right for you?

When you’re in need of serious help getting your credit back on track, there are two debt relief options that are worth considering. Both debt settlement and bankruptcy will reduce or eliminate your debt, but can also negatively impact your credit in the near term. Here’s what you need to…

What you need to know about debt settlement vs. debt consolidation

There are several ways to deal with mounting debt. Debt settlement and debt consolidation may both be viable options, but it’s important to assess which is the best solution to help you eliminate your current debt and improve your financial situation moving forward. What is debt settlement? Debt settlement allows…

Here’s why you shouldn’t send offer letters to settle your debt

I am not a big fan of sending your creditors and debt collectors a written offer letter to settle your debt for less. In fact, negotiating through the mail is often counterproductive to reaching your goal. Here are some reasons why sending a settlement offer letter can hurt you: Your…

Frequently Asked Questions

What is Debt Settlement?

Debt Settlement is the process of paying off your debts…

How does Debt Settlement work?

Debt Settlement is a negotiation between you (or your representative)…

Why are creditors willing to settle?

It is an accepted business practice for creditors to take…
Badge_ssl

We use bank-level security with 2048-bit SSL encryption and will never share your info without your consent

Badge_bbb

HelloResolve, Inc. is an accredited company with the Better Business Bureau​

Badge_cfsi

We were selected as a winner of the prestigious CFSI Financial Solutions Lab by J.P. Morgan Chase

Copyright © 2019 HelloResolve, Inc. All rights reserved