Entries by Hays Lawson

Surprising things that Lower your Credit Score

Here’s an interesting article about surprising things that can hurt your credit score. The article explains how the following can hurt your credit: Closing credit cards or account. Debt settlement. Payment plans. Inquiring about old debts. Having a credit limit lowering. Paying off an old collection account. Balance transfers. Neglecting old debts. Cancelling older credit […]

Fake Debt Collectors on the Rise

The Better Business Bureau issued a recent press release alerting the public to an increase in fake-debt-collector activity. According to the BBB records, fake debt collection scams are on the rise. From September 2011-2012, there were 782 complaints. From September 2012-2013, there were 926, an 18% increase from the previous year. While I have no […]

Say no to Credit Pulls

The below is general information only. The information is not legal advice, and should not be treated as such and is subject to the legal disclaimer. In some situations, you can contract away or limit someone’s right to pull your credit report.For example, in Scott v. Real Estate Fin. Grp., 183 F.3d 97, 100 (2d Cir. […]

Re-aging Debt

The below is general information only. The information is not legal advice, and should not be treated as such and is subject to the legal disclaimer. When it comes to your credit report, debts are not forever. Under the FCRA, debts are removed after a certain time period. The time period differs depending on the […]

Parking Debts on Credit Reports

Junk debt collectors sometimes will “park” a debt on your credit report. This means that the debt collector will report negative information about you to credit reporting agencies but take no other action to collect the debt. The collector then sits and waits for you to discover the negative information in connection with some important […]

What is a Junk Debt Collector

Junk debt buyers are collections agencies that purchase bad debt. The debt can be anything from an overlooked medical bill to a defaulted credit card. Junk debt is often called zombie debt. In many cases, there have been previous attempts by other collection agencies to collect the same debt. Junk debt buyers purchase these debts in lots, often for pennies […]