Debt Collectors – What They Can and Can’t Do

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There are few calls that elicit as much dread and frustration as a debt collector. Yes, even more than those extended car warranty calls! While it’s probably not a number saved in your phone, you know who the number belongs to. Each time it calls you get that sickly feeling – fear, shame, anxiety, anger, and annoyance. We’ve all been there at some point, for one reason or another, and besides calling constantly, you may or may not be aware that there are some rules that debt collectors do have to follow.

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The Pro’s and Con’s of a Home Equity Line of Credit

Of the many ways there are to tap into the equity that your home has acquired with time and appreciation, one of the most flexible is to set up a Home Equity Line of Credit, or HELOC, as it is commonly known.  Unlike a standard home equity loan that is paid to you in a lump sum and paid back in a fixed amount of time, usually at a fixed interest rate, a HELOC establishes a certain level of credit, secured by a lien on your home, against which you may draw as you need it.  It can provide you with a comfortable cushion for unexpected expenses like small renovations, extra college bills or medical expenses.

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