Average personal loan debt: $8,018. Personal loans are unsecured debt governed by the original loan agreement and state law. If in collections, FDCPA applies. Many collection agencies lack original documentation.
Common CompuCredit Holdings Violations
Hidden fees in subprime credit card agreements
Misrepresenting credit card terms
Deceptive marketing of credit products
Personal Loan Debt Dispute Strategies
1
Demand debt validation under FDCPA
2
Check statute of limitations in your state
3
Verify the amount is correct
4
Negotiate settlement if valid
5
Dispute credit reporting errors under FCRA
Tips Against CompuCredit Holdings
CompuCredit was sued by FTC for deceptive practices — use this history in disputes
Review original card terms for hidden fee disclosures
Challenge any fees not clearly disclosed in the original agreement