Consolidating personal debt
All examples are hypothetical and are for illustrative purposes.
We encourage you to seek personalized advice from qualified professionals regarding all personal finance issues.
This includes money owed on personal credit card accounts, auto loans, medical bills, and mortgages.
The FDCPA does not cover debts incurred in running a business.
There are two main types of personal bankruptcy: A debt collector generally is a person or company that regularly collects debts owed to others, usually when those debts are past-due.
If you owe the money or part of it, contact the creditor to arrange for payment.But you should first consult a qualified credit counselor.You may be able to lower your cost of credit by consolidating your debt through a home equity loan or home equity line of credit.You can find free or low-cost credit counseling options at: Under the provisions of the Servicemembers Civil Relief Act (SCRA), you may qualify for a reduced interest rate on mortgage payments or credit card debt, protection from eviction, or a delay of all civil court actions, such as bankruptcy, foreclosure, or divorce proceedings.To find out if you qualify, contact your local Armed Forces Legal Assistance office.