Tayne Law Group

Category: From the Blog

  • What is the Statute of Limitations on Debt in New York?

    What is the Statute of Limitations on Debt in New York?

    Getting in over your head with debt can be scary, especially if debt collectors have threatened to sue you. However, you have certain rights and protections as a borrower that are important to know. That includes the statute of limitations on debt, which varies by state. So if you’re a New York resident facing a […]

  • Should You File for Bankruptcy: Pros and Cons

    Should You File for Bankruptcy: Pros and Cons

    Dealing with thousands of dollars in debt can feel like a hopeless situation. Fortunately, several options are available to help you get it under control, including bankruptcy. However, filing for bankruptcy isn’t a quick fix for your debt problems. Therefore, it’s essential to understand the pros and cons of bankruptcy so you can make an […]

  • 13 Protections in the Fair Debt Collection Practices Act

    13 Protections in the Fair Debt Collection Practices Act

    If you have a past-due debt in collections, it can be nerve wracking to deal with debt collectors. Especially if you aren’t sure what your rights are. Fortunately, there are debt collection laws in place to protect you from unscrupulous practices. A big one: the Fair Debt Collection Practices Act (FDCPA). Read on to learn […]

  • What a Debt Collection Agency Can (and Cannot) Do

    What a Debt Collection Agency Can (and Cannot) Do

    When you fail to pay back a debt, the original lender will usually try to collect it themselves. However, if it goes unpaid long enough, they may decide that it’s unlikely that they will ever recover the debt. At that point, the debt gets marked as a charge-off on your credit report, and the lender […]

  • How to Remove a Charge off from your Credit Report

    How to Remove a Charge off from your Credit Report

    Making all of your payments on time is important, but mistakes can happen. If you have one or two missed payments on a loan or credit card, your lender will likely charge you a late penalty and your credit score can take a hit. However, if you have several late payments and fail to pay […]

  • Why Your Credit Score May Drop after Paying off Debt

    Why Your Credit Score May Drop after Paying off Debt

    Paying off a loan or credit card balance is a big accomplishment. But you might not feel like celebrating if you check your credit score, only to find that it’s dropped after knocking out that debt. After all, your creditors want to be paid back, so why would you be penalized? Before you get too […]

  • Can You Consolidate MCA Loans? (And Why You Might Not Want To)

    Can You Consolidate MCA Loans? (And Why You Might Not Want To)

    If you’re struggling with merchant cash advance (MCA) debt, you may be tempted to look into a way to consolidate MCA loans to get some relief. Merchant cash consolidation might seem like a helpful way to manage your current debt and make it out with your business intact. But these transactions can ultimately make things […]

  • What to Do if MCA Lender Files a UCC Lien Against You

    What to Do if MCA Lender Files a UCC Lien Against You

    If you’ve taken out a merchant cash advance (MCA), you may already have an MCA UCC lien on your business credit reports. While this is typical for MCAs and other forms of business financing, it could impact your ability to get credit in the future. This is especially the case if the information in the […]

  • Debt Relief vs. Bankruptcy: Which One is the Better Option?

    Debt Relief vs. Bankruptcy: Which One is the Better Option?

    If you are struggling to handle your debts, you may have looked into some of your options. In that case, you have probably found two main ways to resolve debts: filing for bankruptcy and pursuing debt relief. You may be wondering which is the right option for you. In that case, keep reading. We’ve taken […]

  • How Student Loans Affect Your Credit Score

    How Student Loans Affect Your Credit Score

    If you have student loans to your name, you’ve likely wondered, “How do student loans affect your credit score?” In truth, they do have an impact on your score. However, the good news is that borrowers have control over the type of impact they experience, specifically whether it is positive or negative. We’ve created a […]