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What Happens If You Don't Pay a Debt Collection?

Posted by Ryan D. Peterson | Aug 03, 2021 | 0 Comments

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 ...

Combating Aggressive Debt Collection

Posted by Ryan D. Peterson | Aug 03, 2021 | 0 Comments

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 ...

Collections Lawsuit Could Be Dropped

Posted by Ryan D. Peterson | Aug 03, 2021 | 0 Comments

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...

Will Biden Extend Federal Student Loan Pause?

Posted by Ryan D. Peterson | Jul 15, 2021 | 0 Comments

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?

Posted by Ryan D. Peterson | Jul 15, 2021 | 0 Comments

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?

Posted by Ryan D. Peterson | Jun 30, 2021 | 0 Comments

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...

Facing a Debt Collection Case?

Posted by Ryan D. Peterson | Jun 30, 2021 | 0 Comments

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...

New Guidelines: Social Media Debt Collections

Posted by Ryan D. Peterson | Jun 23, 2021 | 0 Comments

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 Loan Interest Rates to Increase

Posted by Ryan D. Peterson | Jun 18, 2021 | 0 Comments

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...

What You Need to Know About Junk Debt Buyers

Posted by Ryan D. Peterson | Jun 14, 2021 | 0 Comments

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...

How To Deal With Debt Collectors

Posted by Ryan D. Peterson | Jun 03, 2021 | 0 Comments

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...

Facing A Debt Collections Case?

Posted by Ryan D. Peterson | May 27, 2021 | 0 Comments

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...

Student Loans & Biden's First 100 Days

Posted by Ryan D. Peterson | May 19, 2021 | 0 Comments

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...

What to Know About Debt Validation Letters

Posted by Ryan D. Peterson | May 12, 2021 | 0 Comments

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 ...

Paying For College During COVID-19

Posted by Ryan D. Peterson | May 03, 2021 | 0 Comments

Financial aid options have changed to help students pay for college during COVID-19 The pandemic has affected most aspects of family life including financing a college education. Paying for college may look different now than it did before COVID-19. If you or someone you love is currently pay...

How Much Debt Do Millennials Have?

Posted by Ryan D. Peterson | May 03, 2021 | 0 Comments

The average millennial has $27,251 in non-mortgage consumer debt—here's how they compare to other generations. Millennials are the generation with the fastest growing debt. Here's a look at what the average millennial is borrowing. Millennials are the generation with the fastest growing debt loa...

Do Student Loans Count as Income?

Posted by Ryan D. Peterson | Apr 15, 2021 | 0 Comments

Many students borrow money or accept grants and scholarships to help pay for higher education. Do student loans count as income? Luckily, you don't report student loans as income on your tax return, and you don't have to pay taxes on certain types of financial aid. But settled or canceled studen...

Wells Fargo Halts Service of Student Loans

Posted by Ryan D. Peterson | Mar 24, 2021 | 0 Comments

What Wells Fargo exiting the student loans business means for you In January 2021, Wells Fargo stopped accepting applications for new student loans. The company will still offer credit cards, home equity loans, bank accounts and all of the other financial products it is known for, but private st...

Student Loans and Your Stimulus Check

Posted by Ryan D. Peterson | Mar 24, 2021 | 0 Comments

Should I use my stimulus check to pay down my student loans? Are you wondering how to spend your stimulus check? If you've lost your job or are working reduced hours, that money is likely going toward bills, food and other necessities. Not everyone has been affected equally so why not use it to ...

How to Refinance Your Student Loan

Posted by Ryan D. Peterson | Mar 24, 2021 | 0 Comments

You can refinance your student loan even if you have bad credit. Refinancing your student loans with bad credit can be a challenge, especially if you are trying to refinance through a private lender. Some lenders will charge you more, while others might deny your new loan application outright. E...

Get Free Weekly Credit Reports

Posted by Ryan D. Peterson | Mar 24, 2021 | 0 Comments

During the COVID-19 pandemic, accessing your credit is important. That's why Equifax, Experian and TransUnion are continuing to offer free weekly credit reports. This extension lasts until April 20, 2022. Biden's Plan: Change Credit Reporting and Scoring Online Finances – Get you free weekl...

Biden's Plan: Change Credit Reporting & Scoring

Posted by Ryan D. Peterson | Mar 22, 2021 | 0 Comments

The Biden administration has a big target in its sights, or rather three big targets — Equifax, TransUnion, and Experian for credit reporting changes and scoring. If President Biden has his way, he will create a public credit reporting agency (CRA) to compete with the three major credit bureaus...

Trouble Paying Bills? Read This

Posted by Ryan D. Peterson | Mar 15, 2021 | 0 Comments

So much uncertainty and anxiety have been created by the coronavirus, consumers are having trouble paying their bills. The financial impact can be felt by many, especially those who are unemployed or furloughed due to the coronavirus pandemic causing many to experience difficulty paying their bi...

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At Peterson Legal, we focus on Collection Agency Defense, Credit Report Errors, Debt Collection Harassment, Identity Theft, and Student Loan Collections and we are here to listen to you and help you navigate the legal system.

Contact Us Today

Peterson Legal is committed to answering your questions about Collection Agency Defense, Credit Report Errors, Debt Collection Harassment, Identity Theft, and Student Loan Collections issues in Minnesota.

We offer a Free Consultation and we'll gladly discuss your case with you at your convenience. Contact us today to schedule an appointment.