By initiating a debt collection, the third party debt collector must be able to prove that they are the legitimate owners of the debt, as well as to provide the alleged debtor with specific information regarding the debt.

Residents of the State of Texas retain special consumer protections during the debt collection process. Once such unique protection not covered under Federal credit protection laws is…

Once a debt exceeds a certain amount of time, a debt collector is no longer able to take legal action through the civil justice system to collect any money…

Debt collectors are in the business of making money, and if that means coming after everything you own to get what they think they deserve, they will. In some cases, debt collectors have used threats, fear and coercion in an effort to collect a debt, regardless of whether the debt being collected was legitimate.

If you have stopped paying, or defaulted, on your debt, then that debt may accrue additional interest and fees. A credit card, for instance, may charge you late fees and over-the-limit fees on top of your existing balance. Your responsibility for these fees is usually detailed in the original application you signed at the time your credit line or loan was issued.

In many cases foreclosures have reportedly been processed in error. In one widely reported instance, a homeowner was actually foreclosed on by two different banks who claimed ownership of the mortgage note! In many other cases, homeowners returned after a hard day of work only to find the locks on their doors changed and all of their belongings gone – and they had never missed a payment! Protect yourself from this today and demand the proper documentation from the bank.