The best way to determine one's debt, how much is owed and to whom these debts are owed would be to request a current credit report and credit score, according to CNN Money. Free copies are available of one's credit report from all the major credit bureaus.Know More
The three most popular and trusted credit bureaus are Equifax, Experian and TransUnion. These companies pull together all available credit information and analyze it to determine a credit score, which can be obtained for about $15. The FICO score is the one that is referenced the most by lenders, reports CNN Money.
A credit report includes a detailed list of exactly which entities or institutions have claimed a debt against an individual. It also includes information about how much these debts are and when they were accrued, states CNN Money. An individual can view this information to determine the extent of his debt, and he should always check his credit report for any inconsistencies or inaccuracies. If there are any errors, report them to the bureaus so that they can investigate.
Individuals can obtain a free credit report for any of the aforementioned credit bureaus from AnnualCreditReport.com, and a FICO credit score can be obtained from MyFICO.com, according to CNN Money.Learn more about Debt Law
The American Debt Foundation cannot get consumers out of debt because the company is already out of business as of 2015, according to the Better Business Bureau. The company was not BBB accredited, and it received a BBB rating of F, which is the lowest rating on the scale.Full Answer >
The Fair Debt Collection Act is a federal law that prohibits debt collectors from using deceptive and unfair practices to collect a debt, explains the Federal Trade Commission. A debt collector is someone who regularly collects debts that are owed by individuals and businesses.Full Answer >
A debt collection letter should include the amount of the debt, the debtor, how the individual can dispute the debt and how he can verify the debt, according to the Consumer Financial Protection Bureau. All of the information has to be received within five days of initial contact.Full Answer >
National Debt Relief is one of the nation's largest debt settlement companies. The organization offers a variety of debt relief services to consumers through settlement and negotiation, states the Better Business Bureau.Full Answer >