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Collection/Repossession

A Servicemember’s Guide to Student Loan Interest Rates

ATTENTION: Many servicemembers now qualify to have their federal student loan interest rates reduced! Read more below. The Higher Education Opportunity Act of 2008 How Do I Know If I Qualify? What Do I Need To Do To Get My Interest Rate Reduced? Can I Still Get My Interest Reduced If I Already Got Out Of The Service? Do I Q more...

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Credit and Debt Collection Overview

Consumer credit issues affect us all. Here are the answers to a few of the most commonly asked questions. What if I am sued on a debt? One common problem is being sued by a creditor, often by a credit card or utility company. If this happens to you, don't ignore the court papers you receive. Try to get legal help right away. At the very least, file a written answer with the court before the deadline.  If you do nothing, you will be "defaulted."  This means that the c more...

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Interactive Form - Collection Agency Stop Contact Letter

The Fair Debt Collections Practices Act gives you the right to send a letter to a collection agency telling them to stop contacting you. The letter can also point out billing mistakes and request verification of the debt (such as a copy of the contract that you signed). If the collection agency does not honor this request, you can sue them. more...

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Issue with Financial Product or Service?

If you have issues with your credit card, mortgage, credit reporting, debt collection, bank account or service, money transfer, payday loan, private student loan, or other consumer loan submit a complaint or call toll-free at (855) 411-CFPB (2372). more...

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Protecting Your Finances -- Info from the CFPB

Servicemembers, veterans, and their families … Are an attractive target for both good and bad lenders: Many lenders know the UCMJ requires you to maintain good finances. You are easy to find, so lenders are confident they can collect debts you owe. Your military pay represents a steady income that could be garnished. Military families often start young, leading to big money management decisi more...

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