- Introduction
- What's Your Credit Rating?
- Reasons for Being Denied Credit
- Using Your Credit Card Safely for Internet Purchases
- Reestablishing Credit
- Talk to Your Creditors
- Collection Agencies
- Credit Counseling
- Alternative Ways to Pay Off Your Debt
- Paying Your Debt to Uncle Sam
- Bankruptcy
If you have serious credit problems, you may be past the talking stage. A collection agency may already be at your door. You should know that you have a number of rights in this situation, under the Fair Debt Collection Practices Act.
- Collectors may not harass or abuse you.
- Collectors may not lie to you or use false statements.
- Collectors may not engage in unfair practices.
- They are not permitted to contact you at unreasonable hours, unless you agree to be contacted at those times.
- They must send you a written notice telling you the amount you owe.
- If you send collectors a written denial of the debt, they may not contact you until they provide you with proof of the debt.
- If you have an attorney, the collection agency cannot contact anyone other than the attorney to obtain information about you.
- Collectors do have the right to contact you, at reasonable hours, by mail, telephone, telegram, or fax.
- If a collector has violated the law, you have the right to sue. The lawsuit must commence within one year of the cause for action.
Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Franklin Mint Federal Credit Union and Mint Wealth Advisors are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Mint Wealth Advisors, and may also be employees of Franklin Mint Federal Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, Franklin Mint Federal Credit Union or Mint Wealth Advisors. Securities and insurance offered through LPL or its affiliates are:
| Not NCUA Insuredor Any Other Government Agency | No Credit Union Guarantee | Not Credit Union Deposits | May Lose Value |
The LPL Financial Registered Representatives associated with this site may only discuss and/or transact securities business with residents of the following states: NJ, PA, NY, DE, AZ, MI, FL, MD, TX, VA, GA, NC.
Financial Learning Center content created by TrueBridge, Inc. The information provided is based upon sources and data believed to be accurate and reliable. The content contained herein is intended for information and illustrative purposes only, should not in any way be construed as a personal recommendation, and should be used in conjunction with individual professional advice.
