How should consumers respond to debt collectors calls and letters?
A. If a consumer is in fact delinquent on a bill they should be expected to be called. Do not ignore the calls or letters from creditors or debt collectors. If in fact you cannot afford to pay the debt, which is often the case, you will find that most creditors will work out a payment plan. In addition, our members can help them as well and intercede for you to work out your debts. Q. How have the recent mortgage foreclosures and bank credit card write-offs affected what you do? A. In many of our agencies, the majority of work they do is mortgage counseling and foreclosure intervention. This is even more true for people with these adjustable rate mortgages. We have had the worst case of irresponsible underwriting. Lenders opened the flood gates and gave loans to people who had no chance of repaying the loans. We’re all going to pay for that in years to come. It’s a huge problem. It’s gigantic — even more so than credit cards in certain markets. People in the Las Vegas area, California
