Canceling student loan debt is a popular subject in today's climate, but it's been a popular topic for more than 20 years and 45 million people still owe $1.7 trillion. That could change if Biden and Congress reach some sort of compromise on how much to cancel and qualifying requirements. In th...

Scammers have found new ways to steal from you during the pandemic. Here's what you can do. The coronavirus pandemic has slowed some types of identity fraud, but other forms have cropped up. “Scammers continue to find new ways to connect with victims and steal their personal information,” say...

When somed debt collection agencies buy junk debt they aim to create lawsuit intimidation among consumers Have you ever been sued by a debt collection company and you have no idea who they are? You're not alone. Many people who have defaulted on credit card debt or have fallen behind in studen...

Here's what you can do with the extra money People with federal student loan debt have about six more months of freedom from repayment and seeing interest accrue on their outstanding balances. In the meantime, they can put the money they would be paying towards those loans to work. The U.S. Dep...

Many debt collectors expect you to share your private, personal details but won't tell you anything in return.  At Peterson Legal, our defense practice focuses almost entirely on representing people sued for failing to pay unsecured debt, like credit cards, student loans, and medical bills. If a...

Here's a list of recent IRS scams, 10 ways to spot impersonators and scammers, and how you can report them IRS scams involve criminals impersonating IRS agents, other government employees or debt collectors over the phone, online or via the mail in an effort to trick you into sending them money ...

The FDCPA protects consumers from abusive debt collection practices, such as foul language and misleading communication. If you feel helpless because debt collectors are calling for payment, you have more power than you realize. You just need to be aware of your rights and how to use them. The F...

Biden administration forgives more student loan debt—here's who is eligible Last week, the U.S. Department of Education announced it would discharge $5.8 billion in student loans held by more than 300,000 disabled Americans. That's the third round of student debt forgiveness announced since t...

Some debt collection scammers try to defraud Minnesotans out of money they do not even owe, making a difficult financial situation even worse. Many of the phony debt collection scams that are currently operating pretend to be collecting money in connection with a short-term, “payday” loan that t...

Take action now to prevent yourself from becoming an identity thief's next victim. In 2019, the Federal Trade Commission (FTC) received more than 3.2 million reports of identity theft, according to a report from the Consumer Sentinel Network. Consumers reported credit card identity theft fraud m...

Have you ever gotten a call about a debt you don't recognize? Or have you had a collector harass, threaten, or lie to you? If you owe a debt — or if you don't owe the debt a collector is asking about — you have rights when it comes to debt collectors. Here's what you need to know. How to Spot Fa...

Can you just ignore those collection notices? If you default on a credit card, loan, or even your monthly internet or utility payments, you run the risk of having your account sent to a collection agency. These third-party companies are hired to pursue a firm's unpaid debts. You're still liable ...

A Washington D.C. council is pushing forward legislation that will further protect consumers against “unfair and abusive debt collection practices”. D.C. Council Chairman Phil Mendelson and Attorney General Karl Racine are putting forward legislation to protect District consumers and modernize ...

Are you facing a debt collections lawsuit? Being hit with a debt collection lawsuit can be unnerving. At Peterson Legal, our defense practice focuses almost entirely on representing people sued for failing to pay unsecured debt, like credit cards, student loans, and medical bills. If a consumer...

Senators Warren, Smith and Markey urge Biden to extend federal student loan pause to March 31, 2022 Since March 27, 2020, federal student loan interest rates have been set to 0% and payments have been paused, giving borrowers roughly $72 billion in student loan interest relief and helping many m...

Have you been sued by Midland Credit Management?  But you have no idea who Midland Credit Management is? You're not alone.  Many people who have defaulted on credit card debt or have fallen behind in student loan payments receive correspondence and are sometimes served with lawsuits from the deb...

Have you been sued by LVNV Funding?  But you have no idea who LVNV Funding is? You're not alone.  Many people who have defaulted on credit card debt or have fallen behind in student loan payments receive correspondence and are sometimes served with lawsuits from the debt company called LVNV Fund...

Are you facing a debt collection case and you have no idea who the debt collection company is? Junk debt buyer companies buy bad debts, usually for pennies on the dollar. Their business model is based on trying to collect the full amount from the consumer, which results in a high profit margin f...

The Consumer Financial Protection Bureau has provided some welcome clarity to collection agencies surrounding how, and how much they may contact debtors using social media. The Fair Debt Collection Practices Act (FDCPA) issued new regulations that go into effect on November 30, 2021. It provides...

Federal student loans will be more expensive for the 2021-22 school year. Even so, borrowers will still see some of the lowest student loan interest rates of the past decade. Interest rates for new undergraduate federal student loans will rise from 2.75% to 3.73% for 2021-22. The interest rat...

At Peterson Legal, our defense practice focuses almost entirely on representing people sued for failing to pay unsecured debt, like credit cards, student loans, and medical bills. If a consumer fails to pay on one of these unsecured debts, a physical item is not reclaimed or repossessed.  Instea...

When debt collectors call, do you know what to do? The National Association of Consumer Advocates (NACA) created a short video series on how to respond to debt collectors. Check out the first video on what to do if debt collectors contact you. If you are having problems with debt collectors, wa...

Consider these factors when deciding if you should hire an attorney to defend against a creditor lawsuit. You have three choices when a creditor sues you for a debt you haven't paid. Allow the creditor to obtain a judgment against you (called a “default judgment”) Defend the lawsuit yoursel...

April 30, 2021, marked President Biden's 100th day in office, what has he done for student loan borrowers? He has already notched several major accomplishments, including passing a massive new stimulus package and ramping up vaccinations to help bring the pandemic under control. And so far, his...

It's not uncommon to receive a phone call or notice in the mail from a collection agency looking for payments. Do you have a debt validation letter? When a debt collector contacts you about an unpaid debt, your first order of business should be to obtain a debt validation (DV) letter. Under the ...