The Company May Prefer To Take Something Rather Than Nothing

Category: Finance, Credit.

Many people are afraid of their phones, they are frightened, or more specifically of creditors calling them again about their debt problems.

The recent news has been focusing on individuals who are having problems because of the sub- prime mortgage situation. Huge numbers of Americans now face serious debt. All this attention has diverted Americans thoughts from the massive$ 5 trillion of other serious debt problems that we have. Many people will simply turn on the voice mail, to avoid talking to their creditors or a collection agency. So how do regular folks deal with these debt collection agencies calling on the phone of coming to your place of work. This does not help the situation.

You need to strike up a dialogue with these people that you owe money too, and explain to them, your circumstances. They will not get tired of calling. The company that you owe money to is just as concerned about the debt as you are. If you explain to them your circumstances, you may be able to get a simple and quick solution to your debt problems by negotiating with the company. They do not want to repossess the TV or the car, what they want is their cash. They may stop additional interest being added, or they may extend your loan to reduce your monthly payments.

Remember the company has access to your credit reports and know owe much you earn. Make a sensible offer to the company for an amount that you can actually afford to pay every month Even if this is a temporary offer for a few months, you may then be able to renegotiate with them at a later date. So are in position to estimate how much you can afford to pay them. This will leave the company with no alternative but to take action against you. You should avoid saying that you are unable to make any payments. You may possibly be able to negotiate the actual amount of the debt down, this means you may be able to pay them less than you actually owe. Making a cash, settlement offer will always be preferable to promising payments each month.

The company may prefer to take something rather than nothing. This is because the company will then know exactly how much money they are going to receive, as opposed to a promise of receiving payments over an extended period. As far as the company is concerned, that will not even cover the interest. For example, if you owe$ 1000 to a company and you make an offer of$ 5 per month. Alternatively, if you offer them$ 300 to clear the entire debt, they may be more inclined to accept this lump sum as full payment. All correspondence should be kept for several years, to ensure there is no future problem with the debt collectors. Even if you negotiate a settlement over the phone, it is very, successfully important to get the agreement in writing from the company before making any payment.

The worst that can happen is they say no, and you are still in exactly the same situation that you were in before you spoke to them. They are legally not allowed contact you again, for any reason. If you do not want to deal with the company yourself, ask your lawyer to deal with them on your behalf, once your lawyer has contacted them. They must deal directly with your lawyer. They are incredibly persistent, and they will not stop until they get some kind of resolution to the situation. The basic advice to not to bury your head in the sand and hope that they will stop calling.

If you are not fortunate enough to have available cash consider taking out a debt conciliation loan against your debts. This will drastically lower the amount of your payments each month, by replacing them with a single easier to manage amount.

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Advanta Life- Of- Balance Platinum Card Gives Up To 6% Cash Back Or Travel Rewards - Finance and Credit Articles:

Credit card companies have been providing reward programs that return a percent of cash back to the customer on his valid purchases. Chase Business Rebate Card gives a 3% Cash Back for purchases at restaurants, office supply stores, gas stations, building supply stores, hardware and home improvement stores and 1% Cash Back on all other purchases.

Be Firm When Telling The Creditor What You Can Afford

Category: Finance, Credit.

Your negotiating strength comes when the creditor or collections agency realizes that your only other option is probably bankruptcy, where the creditor will get much less, or nothing at all from you.

Here are some suggestions for negotiating with your creditors: Communicate your problems. It is in the creditor s best interest to keep you from filing bankruptcy. Let your creditors know about any financial setbacks you ve experienced recently. Your ability to negotiate is strengthened if a creditor realizes that the reason for your situation is due to a serious hardship. Detail your difficulty such as a job layoff, death in the family, car repossession, serious medical problems, home foreclosure, etc. Be firm when telling the creditor what you can afford.

Don t be intimidated into offering more than you can honestly pay now. If you owe the car mechanic$ 1, 000 but can only pay$ 600 over the next year- state that- and be firm. In addition, ask the creditor for a better deal than they initially offer. Be firm when you negotiate with a collections agency. For example, if you re three months behind in your credit card payments and the bank agrees to waive interest on one month, ask them to waive two month s interest. If a collections agency says they can only agree to your paying$ 100 on your account, and you can only afford$ 50, don t agree to pay the$ 10A collections agency represents the creditor and must always check with their client when negotiating payments. Offer a cash settlement.

The client may accept your lower offer. If a creditor will allow you to pay off the debt in installments, he/ she may be willing to settle for 50- 75% of the amount owed, if you make one lump sum payment. To be more persuasive, you may need to give your creditors certain information. Realize it is up to you to convince your creditors to accept the payment plan. Provide them a list of your monthly expenses, and a proposed, including your debts installment plan. There are three types of installment plans: .The first is self- negotiated, where you contact your creditors directly. .A credit counselor administers the second. .The third is the wage earner s plan, or bankruptcy court- administered plan

Being In Debts Is Not A Crime

Category: Finance, Credit.

Being in debts is not a crime. But the fact remains that most debtors take loans often going beyond their affordability and fail to make the payments.

This is what all consumers should keep in mind before they start taking loans and credits. What is required is a little awareness on debt related issues along with a planned budget that will help you to resolve your debt problems. Try out various options to repay debts: Accept the fact that you are in debt and you have to pay off your loans. Here are some useful tips to guide you when you are in debts. Do not file for bankruptcy without trying out the other options to get rid off your debts. So coordinate with your creditors, discuss your situation with them and initiate the negotiation.

It is always better to pay off the debt rather than declare a bankruptcy, which will have a negative impact on your credit profile. Some of your creditors may not be cooperative at all. Professional help from credit counselors or online debt consolidation can make it easier to deal with debts. But then negotiate with those who are willing to cooperate with you. Do not acquire any more credit: It is a general conception that one can repay previous debts by taking credit from some other creditor. This is because you have already piled up a lot of debts and it may become difficult for you to deal with so many loans at the same time. This may help in some cases but if your income level does not support it then you better not go for this option.

You may also think of converting unsecured debts into secured debt but you may lose your home or car in case you fail to pay off the secured debt. Assign a priority to your debts: Prioritize your debts and try to pay off those accounts first which may lead you to trouble in the near future. Moreover, you may not be able to find a suitable debt settlement program, as these programs do not support consolidation of secured debts. For instance, if you have not paid the power bills, then pay them off first. Also, go for a tight budget and restrict your expenses to those items which are absolutely necessary. Otherwise, it may lead to termination of the power supply.

Look for ways to add on to your income: Look out for a part time job so that you can supplement your primary income with some extra dollars. Along with this, also ensure that you are utilizing all the benefits that you are allowed to get. This will add on to your budget and help you to repay the debts. You may contact the independent Welfare Rights Agency to know about the benefits that you can possibly avail. Also, go for an insurance policy that can help you with payments if you come across an accident. For instance, if your income level is low, then you may get a discount on your rental expenses or on the council tax payments. Seek debt consolidation services: Analyze your situation and then opt for a suitable debt consolidation company.

Carefully go through the terms and conditions of the company and try to find out if there are any hidden costs involved. Know how much their services can help you to recover from bad credit. Provide the counselor of the company with all the relevant details of your credit history and financial situation. But the plan will only work out if you follow it strictly. This will help him to have a clear idea of how much you can pay towards the repayment of your debts and then he can come up with a suitable repayment plan so that you can get rid off debts within a shorter period of time. For this, you may have to spend as little as possible. Know- how of some useful tips can relieve you from your debt problems as these provide solutions as to how you can manage to pay off debt.

But this is nothing against a debt free life. These simple and easy steps will help you to get over your debt problems. Online debt consolidation could really be a good option.

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Today Having Good Credit Reflected In Your Credit Report Is Important In Every Financial Situation You Find Yourself In As You Probably Know And Knowing A Few Tips About Credit Repair Can Solve A Lot Of Your Credit Problems - Finance and Credit:

Today having good credit reflected in your credit report is important in every financial situation you find yourself in as you probably know and knowing a few tips about credit repair can solve a lot of your credit problems. Your credit scores, are used by, called FICO your landlords, your employers and the insurance companies to determine whether you can get an apartment and/ or job and even what your insurance rates will be.

Among Those Credit Cards Are The Discover More Cards - Finance and Credit Blog:

There are a lot of credit cards on the market today offering great value to credit card using consumers. Believe it or not this card is available in over 150 card designs that you can personalize and an introductory 0% APR( Annual Percentage Rate) on purchases and balance transfers for 12 months.

Moreover, Today Every Credit Card Company Issues Credit Cards With Different Rewards Program - Monica Kerstetter about Finance and Credit:

Many specialists advise against a single way of financing for all your needs.

A Prepaid Credit Card Works Like A Gift Card

Category: Finance, Credit.

It is very difficult to get an unsecured loan if you have a low credit rating.

Whatever company you apply to will have different terms and conditions. Every time you try another company for an unsecured credit approval, the enquiry makes, and get refused you credit rating even lower, therefore it is better to try for a secured loan first. You must read these very carefully. Sometimes these details are in very small print. You must also pay particular attention to the charges, how often they are payable and check to see that there are not any hidden extra charges. Check every word before signing the contract.

If you have made late payments and continue to do so with an unsecured card, late payment charges and interest will increase your debt. Do not get an unsecured card unless you are in a position to make regular payments. It would therefore better to keep to a secured credit card. If you decide to do this, make sure that you have a very low limit that you are in a position to pay if necessary. It is possible for parent to sign to say that they would back the application for a unsecured credit card, and take the risk for their student children. A bad debt on the card will affect your own credit rating.

If you are able to financially pay the money for the unsecured credit card without taking money from other credit cards or elsewhere then this is an option really worth considering before making any other decisions. It is possible that your bank would be able to offer you an unsecured credit card which has a lower interest rate or possibly a consolidation card. If you are a person that struggles with credit ratings then you may still have the option of getting an unsecured credit card, a secured credit care or possibly a prepaid debit card. If you are for instance only going to use the credit card for emergencies or every now and again then the prepaid credit card maybe all that you will need. Each of these cards has different benefits so you would need to think about your current finances and which unsecured credit card would best suit you. A prepaid credit card works like a gift card.

You cannot spend more than the amount that you place on the card so you will not be able to get into debt with one of these cards. You are not borrowing money from a credit card company, instead you are using your own money. The only thing that you may have to pay extra is a fee to have the credit card from the company as this is how they make their money.

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Do You Know Your Credit Score - Finance and Credit Articles:

Do you know it s very easy to fix your bad credit through few easy to follow steps?

Look Carefully At All The Different Kinds Of Fees Each Company Collects And What The Rate Is - Finance and Credit Blog:

Many small business owners are hesitant to accept credit cards because they are afraid all of the fees and equipment costs, but fees are not the only thing to consider when you are looking for a payment processor.

A Dun And Bradstreet Spokesman Echoed The View Of Veda Advantage That Credit Reporting Reforms Were Needed To Help With Better Lending Decisions - Finance and Credit Articles:

Surging numbers of Australians defaulting on their credit agreements has led two of Australia s credit checking firms to call for major credit reporting reforms to tackle the nation s growing debt problem. The study by Veda Advantage, Australia s largest credit ratings business with information on 13 million Aussies, has shown that in parts of Australia the numbers of people defaulting has risen by more than 50 per cent.

Negative Marks On Your Credit Rating Will Stay There For 7 Years

Category: Finance, Credit.

Credit scores are based on one thing: the information contained in your credit report. Each bureau then compiles this information into a credit report, which is the ultimate gatekeeper to your credit rating.

When banks, and many other, credit card companies companies lend money to you, they typically report your status in terms of making your payments on time to the three credit bureaus: Equifax, and TransUnion, Experian. Negative marks on your credit rating will stay there for 7 years. When you begin to lapse in payments to a creditor, whether it is for loan payments or credit card payments or financing payments, the creditor will go though various steps in an attempt to receive payment. This can severely limit the types of loans you will qualify for, as well as the interest rates that accompany them. After a( usually long) series of warnings, the creditor will eventually sell your debt to a collection company. Basically, the creditor has, when this occurs decided that the chances of recovering the loan are small enough that they are willing to lose as much as half of its value in order to stop pursuing it.

When a creditor does this, they are effectively" writing the loan off, " as they generally sell the debt to a collection agency at a heavy discount. When this happens, the creditor will inform the credit reporting agency, and you will be left with the lowest possible mark on your credit report, which will affect your rating for up to 7 years. You should act as soon as possible after being contacted by a collection agent. A crucial step to credit repair is to take the necessary steps to avoid this" writing off" of your debt. The first thing you should do is contact your creditor- not the collections company- and see if you can arrange to clear the debt with them. If your creditor is unwilling to do this, you re stuck with the collection agency. In many cases, if you agree to repay the debt immediately to the creditor, they will remove the" gone to collection" mark from your credit rating- essential to quick credit repair.

In terms of credit repair, keep in mind that the mark on your credit rating can t get any worse at this point- the debt has already gone to collection- so take time to consider all of your options. It is to your advantage in this situation to understand that the collection company has likely bought your debt at something close to half its value, so any payment higher than that will result in a profit for them. Usually, the collection agent will contact you in an aggressive manner demanding immediate and full payment of the debt, and imply that they will take you to court if this doesn t happen. Try and offer to pay less than the full value of your debt immediately. They will usually be willing to accept a quick payment at a discount so they can move on. In most cases, the collection agent will be motivated to close your file as soon as possible to avoid the process being dragged out. In order to achieve credit repair as quickly as possible, always attempt to pay your creditor rather than the collection agent when your debt has gone to collection.

Full payment to a collection agent should only be offered as a last resort. If that fails, offer the collection agent a lower figure than the full loan amount. Anything is better than having the bad debt showing as an outstanding balance reporting on credit.

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The Key To Budgeting Is Now Going Over Your Budget - Finance and Credit Blog:

Purchasing a car can be very stressful and when it comes down to shopping for a car, you may begin to get confused on how much you should actually spend.

There Are Different Fees For This Loan Type - Jaclyn Padillo about Finance and Credit:

You can get the money you need to pay your bills or shopping overnight if you need cash fast.

Why Is It That We Do Not Do That With Our Credit As Well - Finance and Credit Blog:

If you had a car that did not run correctly you would immediately bring it in to be repaired.

Credit Cards Are Pretty Popular And In Widespread Use In UK

Category: Finance, Credit.

Credit cards are pretty popular and in widespread use in UK. As in the US, UK credit cards too are on offer from various banks and financial institutions.

Credit cards are accepted at most shops and other merchant stores/ outlets. Again, UK credit cards too offer a number of benefits which vary from one UK credit card to another( though there are a lot of common benefits too which are same across various UK credit cards) . There are some UK credit cards that offer 0% balance transfer for 9 months and there are others that offer 0% for 6 months. Due to the fierce competition in the UK credit card market, various UK credit card suppliers offer attractive balance transfer schemes too. However, the catch here is that these UK card credit suppliers differ on their standard APR rate i. e. the APR rate which comes into effect after the expiry of the introductory 0% balance transfer offer. Some UK credit card suppliers combine 0% offers with accrual of points on a rewards programme. Further there are some UK credit cards that do not offer a 0% balance transfer but instead offer a better standard rate( APR) throughout.

Another popular thing among UK credit cards is to combine cash back offers with balance transfers. You also have a few UK credit cards that can be procured by people with bad credit history too( of course, the decision on approval of such a credit card application will lie with the credit card supplier) . Then there are some very attractive offers which give 0% not only on balance transfers but also on Purchases( for a short period like 5 month or so) . So what does one do if one wants to transfer balance to another UK credit card. You need to take stock of your current financial situation and determine if a period of 6 months or 9 months( or maybe even 12 months) would be sufficient for you to fully payback the dues on your UK credit card. Well, it s quite simple.

If the answer is in the affirmative, just go ahead for the UK credit card that offers 0% balance transfer for this period( even if the standard APR rate is a bit higher) . Otherwise, the choice of a higher standard APR will hit you very hard and you will be in deeper trouble. However, the assumption here is that once you payback the debt on your UK credit card, you will stick to controlled spending and will pay your credit card bills in full amount by the due date for payment. However, if you think that 9 months is not sufficient to pay back the debt on your UK credit card, then you should look to strike a balance between the zero APR period and the standard APR rate, and choose a UK credit card which leads to the least total outgo( you will need to sit with a calculator and calculate the total outgo on various UK credit card offers) . Other things like 0% on purchases, reward programmer points etc are secondary things. This is the most basic aspect that you need to consider before you decide on which UK credit card is the best for transferring balance.

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But This Is Typical Of The Lies That We Tell Ourselves When We Dont Want To Face Our Credit Card Balances - Cheri Rubel's Finance and Credit blog:

Credit cards are an easy way to manage your monthly expenses, and get through a day without having to carry much cash.

Bad Credit Is Contagious - Manuela Mewborn's Finance and Credit blog:

It is more than likely that you are familiar with the negative aspects of credit cards debt. Plastic cards are the most common means by which people enter into credit cards debt, and the situation can quickly lead to an overall state of bad credit and a need to take out loans for debt.

Do You Even Need Their Credit Card - Finance and Credit Blog:

Imagine this.

A Credit Card Is A Type Of Piece Of Plastic Card That Can Be Electronically Activated And Even Utilized To Purchase Services Or Goods

Category: Finance, Credit.

To start up, you ought to acknowledge that when searching for an ideal credit card, it has to be one that comes without extra charges or costs, requires ninety to a hundred percent of bank balance as its credit limit and demands a minimum sum of money as the least bank balance.

Still, meeting the minimum payment makes you eligible for an interest rate charge on the rest of the money. You have the option of meeting the minimum payment of the entire amount billed to you by your credit card firm if you are unable to pay the entire amount. If you are not convinced about how or what to fill in the online form of a selected credit card organization, you can download the form, study it and even seek answers to important questions in order to obtain clarification. If you ve any queries to make regarding the offers or perks of a credit card firm or any other issue about credit cards you can dial up the client service of the firm and have your queries addressed. Application for credit online is processed by a credit card processing software online which is utilized to ascertain the capacity of the client to make payments for the product purchased. The control of technology has absorbed the credit card business into its workings by making it doable to submit an application for a credit card online with a mere click of the mouse.

Don t forget to release your credit card information to only online websites that you are sure are secured in order to elude identity theft or fraud. If you are a business owner, it s ideal that you get a business credit card to make payments for all your transactions associated with your business, as this will make it easy for you to trace your expenditure. A credit card is a type of piece of plastic card that can be electronically activated and even utilized to purchase services or goods. To wrap up, credit cards come with countless offers such as points or earning that come in percentages and are gotten when you make certain purchases at markets or supermarkets. It beats cash any day simply because it reduces the fear of being robbed that comes with carrying cash. Knowing this can assist you make the proper decisions.

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The Alternative Option Is Through Cash Credit Cards - Elisa Canney's Finance and Credit blog:

The nightmare of having credit cards stolen and learning that a scammer made off with$ 60000 to take a cruise along the Rivera at the expense of a Visa may well be considered a financial death sentence for many.

Visa Offers Card Members Lots Of Extras - Finance and Credit Articles:

Credit cards offer a high level of security and flexibility to customers, and this is why so many people use their credit cards for day to day purchases as well as for special purchases. MasterCard and Visa are the names of the global companies who manage credit cards.

Bad Credit, Credit Cards Can Save Your Credit Or Make It Worse If Your Not Careful - Gena Chachere about Finance and Credit:

Bad credit, credit cards are just like regular credit cards but with much higher interest rates and usually an annual fee, sometimes$ 50 a year and higher.

Put The Power Of Credit Card Rebates In Your Wallet

Category: Finance, Credit.

Put the power of credit card rebates in your wallet!

These unique credit card rebates are all over the place and they provide cardholders with cash rewards or rebates when they shop just like they normally would. This can be done very easily if you have good or excellent credit, pay your balance monthly, and enjoy spending money to receive cash back on your purchases. All you have to do is use your credit card and purchase items that you always buy from your favorite store and you earn a percentage that you spend back in rebates. You may first wonder, what the gimmick is, because you know there is one. The average percentage rate is around 1% to 5% according to which credit card company you choose. Well, to put it simply, the credit card rebates are given to you because the credit card company charges the business a fee.

You may also notice that with some credit card rebates you may be paying higher interest fees and annual fees than you would with a regular credit card. This fee is used to give you a rebate. These annual fees are usually between$ 25 and$ 100 per year. You will have to read the terms and conditions and of course the fine print to learn which credit card companies offer credit card rebates with balance transfers and cash advances. Many times with credit card rebates such things as balance transfers and cash advances do not count toward your rebate, but there are a few credit card companies that do offer$ 5 with all balance transfers. Most credit card rebates are great even if you may have to pay a higher APR. However, if you do not pay your balance on time you will soon learn that the money you would be earning is gone due to paying interest on your balance.

Today, there are some credit card companies that are still keeping the APR as low as possible while offering credit card rebates. The best way to avoid paying interest is to pay off your entire balance monthly. Remember, all credit card rebates are a great way to get something back for all your spending but for most credit card companies they only give these type of credit cards to individuals with good or excellent credit. You may find that you are paying more in interest than you are actually earning in rebates if you carry a balance.

Today Having Good Credit Reflected In Your Credit Report Is Important In Every Financial Situation You Find Yourself In As You Probably Know And Knowing A Few Tips About Credit Repair Can Solve A Lot Of Your Credit Problems

Category: Finance, Credit.

Today having good credit reflected in your credit report is important in every financial situation you find yourself in as you probably know and knowing a few tips about credit repair can solve a lot of your credit problems. Your credit scores, are used by, called FICO your landlords, your employers and the insurance companies to determine whether you can get an apartment and/ or job and even what your insurance rates will be.

In our world credit determines just how much interest you ll end up paying on your house, truck, car, etc. Yes your insurance agent will make use of your credit information. Assuming you already have a copy of your credit report, here are a few of the best credit repair tips if you re having credit problems. Your credit report and score will indicate whether you have good credit or bad credit and whether you have to pay a deposit for a cell phone. If you don t have a copy you can easily get a free credit report online. There are other ways to get your FICO score that you would have to pay for but there are ways to get your score for free. You won t be able to get the score along with the free report though.

Get a copy of the Fair Credit Reporting Act from the federal government. You ll be well- armed if you plan to fix your credit report. It may sound boring but you don t have to read the entire legal portion, just understand the basics of the Act. But it s very important that you get it and read it. Did you know that any information on your credit report can be disputed? It won t take long. That includes any personal information- public records, any accounts you have of course, even any inquiries.

Consider credit repair to be a gradual process. You can dispute anything. Look over the information, your credit card accounts and other accounts. Pick just 3 or 4 or so to dispute. Let s say you have 15 accounts that you d like to dispute. Otherwise if you dispute them all at one time the credit bureau or credit reporting agency will not consider your requests seriously. You don t need to go into the laws, procedures any court rulings or even threaten them with lawsuits if they don t fix your credit report.

You want to keep your letters of dispute on the simple side. Just make it simple. Now if your letter is too confusing, there is a good chance it will get tossed. Just dispute the accounts you have decided to start with- those that need to be removed, updated or changed. You don t need to go into any personal tales. Lastly the procedural request - asking for the method of verification. Just keep it simple and short.

If you get some accounts deleted that s good. Requesting this information, forces the credit bureau to provide you with the information they received from your creditor as valid proof. But for those that came back" verified" you can ask for a procedural request. The credit reporting agencies and credit bureaus are obligated by law to provide you with the exact method your creditors used to verify the information that they are reporting to the agency on your credit report. The creditor needs to have proof of why if they replied to your dispute stating that your account should remain on your credit report. So, by doing this you re putting pressure on them to prove it. The creditor rarely ever provides the credit reporting agency or credit bureau with this information. Otherwise they will have to remove it.

If you follow these credit repair tips you should be well on your way to fixing your credit for good! Make sure to keep records of everything the bureaus and your creditors send to you in case you find some day that you have to sue them for violating your federal rights.

CreditCardsAssured. Com

Category: Finance, Credit.

Victims of identity theft should monitor financial records for several months after they discover the crime.

Stay alert for other signs of identity theft. Victims should review their credit reports once every three months in the first year of the theft, and once a year thereafter. Don t delay in correcting your records and contacting all companies that opened fraudulent accounts. Remember, if you only ring up, then there is no" hard copy" of evidence indicating you required assistance. Make the initial contact by phone, even though you will normally need to follow up in writing. Whereas, if you put it into writing, esp. black pen on white paper, it is now" official" that you are seeking a response of some kind and some sort of action has to be taken. When they use the cards and don t pay the bills, the delinquent accounts appear on your credit report.

The longer the inaccurate information goes uncorrected, the longer it will take to resolve the problem. credit card fraud: They may open new credit card accounts in your name. They may change the billing address on your credit card so that you no longer receive bills, and then run up charges on your account. Phone or utilities fraud: They may open a new phone or wireless account in your name, or run up charges on your existing account. Because your bills are now sent to a different address, it may be some time before you realize there s a problem. They may use your name to get utility services like electricity, or cable TV, heating. They may open a bank account in your name and write bad cheques.

Bank/ finance fraud: They may create counterfeit checks using your name or account number. They may clone your ATM or debit card and make electronic withdrawals your name, draining your accounts. Government documents fraud: They may get a driver s license or official ID card issued in your name but with their picture. They may take out a loan in your name. They may use your name and Social Security number to get government benefits. Other fraud: They may get a job using your Social Security number.

They may file a fraudulent tax return using your information. They may rent a house or get medical services using your name. IDENTITY THEFT- Arm yourself with knowledge and learn to set a few other things into motion so you can rest assured and relax. IDENTITY THEFT, PROTECT YOURSELF. Identity theft occurs when someone uses your personally identifying information, Social Security number, like your name, or credit card number, to commit fraud, without your permission or other crimes. In fact, you or someone you know may have experienced some form of identity theft.

It is estimated that as many as 9 million Americans have their identities stolen each year. The crime takes many forms. You may not find out about the theft until you review your credit report or a credit card statement and notice charges you didn t make- or until you re contacted by a debt collector. Identity thieves may rent an apartment, obtain a credit card, or establish a telephone account in your name. IF YOU ARE AN US CITIZEN, YOU CAN RECEIVE YOUR FREE CREDIT REPORT FROM http: //www. How Do They Get Your Information?

CreditCardsAssured. com. They steal credit/ debit card numbers by using a special storage device when processing your card. Changing Your Address. Phishing for info: They pretend to be financial institutions or companies and send spam or pop- up messages to get you to reveal your personal information. They divert your billing statements to another location by completing a change of address form. Plain old Stealing.

They divert your billing statements to another location by completing a change of address form. They steal wallets and purses. Pre- approved credit offers. Mail, including bank and credit card statements. And new checks or tax information. They steal wallets and purses. They steal personnel records, or bribe employees who have access.

Mail, including bank and credit card statements. And new checks or tax information. Pre- approved credit offers. They steal personnel records, or bribe employees who have access. They use false pretenses to obtain your personal information from financial institutions, and other sources, telephone companies. Pretexting. They use false pretenses to obtain your personal information from financial institutions, and other sources, telephone companies.

Once they have your personal information, identity thieves use it in a variety of ways. What do thieves do with a stolen identity? Rummaging through your trash. Actually, this is where the scammers get their best stuff from. They rummage through your trash looking for receipts and personal documents or old letters you may not think are important. So be very careful to destroy anything that might be used against you. They steal credit card/ debit card numbers by using a special storage device when processing your card.

Skimming Your Cards. Identity theft is serious. Some consumers victimized by identity theft may lose out on job opportunities, or be denied loans for education, housing or cars because of negative information on their credit reports. While some identity theft victims can resolve their problems quickly, others spend hundreds of dollars and many days repairing damage to their good name and credit record. In rare cases, they may even be arrested for crimes they did not commit. Identity theft starts with the misuse of your personally identifying information such as your name and Social Security number, or other financial, credit card numbers account information.

How do thieves steal an identity? For identity thieves, this information is as good as gold. CreditCardsAssured. com US citizens only. Skilled identity thieves may use a variety of methods to get hold of your information, including: FOR A FREE CREDIT REPORT, PLEASE GO TO http: //www. Posted by snezana at 5: 08 AM. THESE FACTS WILL SHOCK YOU.

These Credit Card Facts Will Shock You! BUYER BEWARE. If you look up the contract, you will find it written there somewhere. Some credit card companies apply the rule of changing the interest rate" Any time and for any reason" . Although there are some banks looking into abolishing this clause. This is a method of calculating credit card interest up until the day full payment is received. Two- cycle billing.

It s based on two billing cycles, instead of working out interest only on the immediate billing cycle. On Febraury 1 you get a bill for$ 1, 05You pay the bill on February 21, but you only pay$ 1, 000 instead of the full amount. Example: You owe no money on January Then you head to the beach for a holiday, and charge it to the card. On your next bill, the company will charge you interest on both the$ 50 outstanding and the$ 1, 000 you paid on time. Imagine you have a credit card with a 9 percent interest rate, which you pay on time and in full. Universal default Clauses.

Then you pay another credit card bill late. The credit card issuers argue that your behavior with other debts indicates that you re a greater credit risk. It s not unusual to see the card with the 9 percent rate skyrocket to 29 percent, according to Manning.

Perhaps You Feel That You Could Never Again Have A Loan, Never Again Regain The Once Amazing Credit Score That You Had Before Everything Went Down Hill, And Never Be Able To Buy Anything With A Credit Card Again

Category: Finance, Credit.

Having to file for bankruptcy is a scary thing sometimes. Perhaps you feel that you could never again have a loan, never again regain the once amazing credit score that you had before everything went down hill, and never be able to buy anything with a credit card again.

It may feel like the end of the world, and you have finally come to your last resort. These feelings of hopelessness are burdensome, but some weight can be lifted from your shoulders. But how is it possible to keep your credit cards once you have filed for bankruptcy? There are possibilities of having credit cards in the future, therefore being able to build up your credit score, until it is, slowly once again in the high numbers and a secured spot on the chart. Don' t you have to list them under your debts? Filing bankruptcy gets rid of all your debt, and the balance that exists on your current credit card is categorized as such, therefore giving you no choice. Yes, you do have to list the existing balance on your credit card as a debt when you file for bankruptcy, therefore making that credit card discontinued for further use.

However, if you have a credit card that does not have a current balance on it, you are allowed to keep that credit card because you are not indebted to that specific credit card company. In that case, they may change a few things in the agreement they have with you because of your increased risk of making late payments or making no payments at all. You do not have to tell that specific credit card company that you have filed for bankruptcy, but they may find out some other way, like by looking at your credit report. Many credit card companies will keep your line of credit open because they want your business, but they do have the right to change things like your credit limits and interest rates because of something like bankruptcy. Bankruptcy is a red flag to them, and because you are at higher risk, they may invalidate your credit card. Despite the fact that there is no balance on that credit card, there may be some companies that will discontinue the line of credit they allowed you anyway.

However, most companies will not because they still want you to keep an open line of credit with their company. The fact that you could not pay off your debt may determine a higher interest rate and a lower credit limit, but you still can get a credit card. It is not difficult to get new credit cards after you file for bankruptcy. But if you think about it, the whole point of filing for bankruptcy was to get out of debt and stay out, wasn' t it? Still, it is through more loans and credit cards that you rebuild your credit score after bankruptcy.