What Are the Prohibited Unfair Debt Collection Practices?


The Texas Debt Collection Practices Act (TDCPA) is an important piece of legislation that protects consumers in the state of Texas from aggressive debt collection practices.  The Act, passed in 1977, forbids debt collectors from using unfair, abusive, or deceptive practices when collecting a debt from a consumer. The Act also provides consumers the right…

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What You Need to Know About Suspense Accounts – A Guide

Suspense Accounts

Suspense accounts are a type of temporary holding account used by businesses to track income and expenses that have not yet been allocated to a specific purpose. This can happen for various reasons, such as when invoices are received but not yet matched to a purchase order, or when expenses are incurred but not yet…

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Mortgage Servicers’ Common Errors in Loan Modification

Loan Modification

A “loan modification” is a permanent change to the conditions of a mortgage. Most of the time, this involves lowering the borrower’s monthly payments. Loan adjustments are extremely common, especially in Fannie Mae or Freddie Mac mortgages, FHA-insured mortgages, and VA-backed mortgages. The servicer may cut the interest rate, convert the loan to a fixed…

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Can a Person Go to Jail for Having Debt? (A Quick Guide)


Debt is a serious issue in the United States and can lead to severe financial hardship for individuals. Many people wonder if it is possible to go to jail for debt. The answer is no—there is no such thing as debtors’ prison in the United States. However, there are certain circumstances in which debt can…

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Why You Need to Ask for Help from a Bankruptcy Attorney

Bankruptcy Attorney

People who are considering bankruptcy may feel out of options. It’s not the only option, though, and is generally seen as a last resort. Several other debt relief options are available to those facing severe financial distress.  Other options include debt consolidation, debt settlement, and credit counseling. Each has its pros and cons, so it…

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