Bank finance articles and tips

If you're like most people, the last thing you want to deal with is credit harassment. Debt collection efforts by collection agencies have hit an all-time high for two reasons. First, many people are struggling to pay their bills since the downturn in the economy, and next, bill collection has become big business. In fact, collection companies in the U.S. now collect billions in overdue debt every year.

But those debt collection efforts can quickly become credit harassment if you're not careful. Here are five tips that will help you stay ahead of debt collection efforts....

Debt collection agencies have your number? It can feel like harassment even when it is not, but knowing how to handle those calls can save you a lot of grief. First, find out about legal debt collection and The Fair Debt Collection Practices Act (FDCPA). You can get the full PDF file online. Armed with this knowledge you can identify illegal debt collection practices and protect yourself and your family and acquaintances against them. You can even turn them to your advantage by negotiating the debt down to something you can live with. Debt collectors are known for their abusive behavior as it is, and the because of current economic downturn, many of them have crossed the line into illegal and unfair collection practices....