The Letter That Stops a Debt Collector, and What 18 Years of Money Fights Taught One Coach

Quick Take

• A 30-day written dispute letter can legally stop a debt collector from contacting you until they prove the debt

• Self-employed and 1099 workers owe an estimated tax payment by Tuesday, September 15

• Employer health insurance costs are projected to rise 8.2% next year, the sharpest jump since 2003

• WalletHub is a free way to track spending and catch credit report errors, which the FTC says affect 1 in 4 people

• Guest Karen Hackman spent 18 years married before she and her husband aligned on money, and shared how sinking funds and one hard look at a statement changed everything

What can you do if a debt collector won't stop calling?

Federal law allows seven calls in seven days on a single debt. On the eighth, the collector has crossed a line. There's a separate protection almost nobody uses: send a written dispute within 30 days and the collector has to stop contacting you until they can prove you owe the money. It doesn't erase the debt, but it forces them to verify it. Send it certified mail with a return receipt so you have proof it went out and proof they got it.

Who needs to make a tax payment by September 15?

If you're self-employed, work freelance, or had a big 1099 or investment gain this year, an estimated tax payment is due Tuesday. Nobody sends a reminder. When you work for someone else, they withhold taxes from every paycheck. When you work for yourself, that's on you, and the IRS charges a penalty if you don't pay throughout the year instead of waiting until April.

Why are health insurance costs jumping 8.2% next year?

Employers are projecting the biggest health cost increase since 2003, and most have already said they'll pass a chunk of that to employees. Open enrollment is the window to actually look at your options. Check whether a different plan tier, deductible, or copay structure would cost less overall before your employer defaults you back into your current plan.

How does WalletHub help with your credit report?

WalletHub tracks your spending and flags issues on your credit report for free, with daily score updates. That matters because the Federal Trade Commission found that one in four people have an error on their credit report, which can mean paying more for a loan than you should.

What did 18 years of money conflict actually teach Karen Hackman?

Karen runs Money and Marriage and coaches couples through exactly what she and her husband Wayne struggled with for nearly two decades. She's a saver, he's a spender, and every money conversation used to end in an argument. What changed things wasn't a budget, it was understanding where each other's money habits came from. Wayne grew up with his dad covering costs and letting him pay it back slowly. Karen grew up being told never to leave herself short.

One tool she uses with her own family and her clients is a sinking fund, money set aside every month for expenses you know are coming, like car maintenance or holiday spending, so they never land as a surprise on a credit card. She also described the moment she and Wayne discovered two years of undetected fraud on his credit card statement, small recurring Amazon charges he'd never noticed because he was too overwhelmed to look closely at his own bill.

She's applying the same lessons with her 17-year-old daughter Charlotte, who earns her own money and makes her own spending trade-offs, including once putting Christmas ornaments back on the shelf because she realized she already had enough at home.

Got a money question you want us to cover? Send it to us at becomingfinanciallyconfident.com.