By: Robert J. Nahoum Medical debt collection has become a hot topic in recent years, as healthcare costs continue to rise, and more people struggle to pay their medical bills. According to a study by the Consumer Financial Protection Bureau (“CFPBâ€), around 43 million Americans have medical debt on their credit reports, with the average amount owed being around $579. […]
Developments in Medical Debt Collection to Help Consumers
Default in Consumer Debt is on the Rise in 2023
By: Robert J. Nahoum Consumer credit defaults have been on the rise in recent years, and this trend is causing concern among economists and policymakers. When individuals are unable to pay their debts, it not only affects their financial well-being but also has a ripple effect on the larger economy. One of the primary reasons for the rise in consumer […]
Consumer Credit Card Debt is on the Increase in 2023
By: Robert J. Nahoum Consumer credit card debt has been increasing at an alarming rate in recent years. According to the Federal Reserve, consumer credit card debt in the United States has increased by more than $70 billion since 2015, with the total amount of outstanding credit card debt now standing at over $1 trillion. I’ve seen this movie before […]
A New Pew Report Confirms the Horror of Debt Collection Lawsuits
By: Robert J. Nahoum Any reader of this blog knows I have been ringing the alarm on the threat and inequities of debt collection lawsuits for years. I and my consumer attorney colleagues are on the frontlines of this battle, day in and day out, on behalf of our clients, holding back the title wave of financial disruption debt collection […]
What They Are Not Saying to Us About Corona Debt
Politicians and policy makers are not talking enough about Corona-Debt and their plans to help working families manage the financial devastation they will suffer.
Where is the Help for Working People and the Debt Hole the Corona-Economy is Digging for Them?
All the politicians and policy makers keep talking about a fantasyland where we all go back to work soon – before mass testing or a vaccine. The truth seems more likely many more months of lockdown. I see little to no help for working families to get out of the debt hole that is being dug.
- 15 U.S.C. §1692 et. seq.
- Debt
- debt collection
- Debt Collection Defense
- debt collector harassment
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NCLC Resource – Protecting Against Creditor Seizure of Stimulus Checks
The consumer heroes at the National Consumer Law Center have issued the following resource to help consumer protect their corona stimulus checks from levy and seizure by heartless and unscrupulous debt collectors: “The CARES Act authorizes payments up to $1200 to individuals and $2400 for couples, with an additional $500 for children under 17 years old. The payments phase out […]
Credit Card, Scarcity Spending and the Corona-Economy
In the depths of the corona-economy, we are staying home, we are filling up our online shopping carts and stockpiling toilet paper. At the same time, unemployment is skyrocketing. We are doing all this spending on the credit card. When life resumes, will we be able to pay the bill?
What Will Happen if I Stop Paying My Credit Card Debts?
By: Robert J. Nahoum THE PROBLEM You lost your job or got cut back on hours. You got sick or injured an can no longer work. Whatever the case, falling on hard economic times is an all too common reality for so many Americans. Disability and unemployment pay just enough to keep the lights on. You are not lft with […]