Credit Dispute Tips

Paying with a credit card gives you a number of protections that checks, debit cards and cash cannot provide. One of these protections is the ability to dispute an item on your credit card if the goods or services you paid for did not live up to their expectations. But while the dispute process provides important protections, it is still important to back up your assertions with the proper paperwork and documentation. Check Your Recent Charges...

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How to Settle a Debt With Discover

If you owe a significant amount to Discover, one possible way to resolve your account is to negotiate a settlement for part of the balance owed. Although Discover has a reputation for being unwilling to settle, it might be possible to settle your debt for less than you owe and avoid further collection actions. Instructions 1 Stop making payments if your account is current. Unless your account is past due, Discover is not likely to discuss...

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How to Buy a Notebook Computer on Credit

There are many ways to purchase a notebook computer on credit. Financing is available for people with good credit, poor credit--and for those who are establishing credit. Existing Credit Cards Consider your existing credit resources before looking for new credit. Virtually all companies selling laptop computers accept full-featured bank cards such as MasterCard or Visa. Consider using your bank card to make the purchase, or if you have department...

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What Does Paying a Settlement on a Credit Card Do to Your Credit?

You may be inundated daily by tempting advertisements offering to settle your credit card debt for a fraction of what you owe. While debt settlement is legal, you must be careful in choosing a service to handle your settlement. It's also important to understand the various ways settlement impacts your credit and your ability to borrow in the future. Credit Card Settlement Credit card settlement occurs when you pay a portion of your debt back...

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If I Use a CCCS Will it Hurt My Credit Score?

Consumer Credit Counseling Services (CCCS) is a nonprofit agency that assists consumers in managing their credit card debt. Services include counseling clients on financial management, bankruptcy and housing counseling and debt management plans. While CCCS does not report your participation in a program to the various credit bureaus, your credit card company may report to the bureaus that your account is in a debt management plan. This can affect your score, but the degree to which it affects your score depends on the service CCCS provides. ...

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How Long Does It Take for Credit Card Companies to Garnish Your Wages?

Creditors have multiple collections options available, one of which is to garnish your wages. Usually creditors do this only if you can't work out a payment plan or don't have any other assets of value. Courts try to settle debt issues as soon as possible, but because there is a formal process required for garnishment to occur, it likely will take a little over two months for garnishment to start even if all goes well for the creditor. Complaint, Summons and Hearing Credit card companies cannot garnish your wages legally unless they prove...

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Does North Carolina Allow Wage Garnishment From a Judgment?

If you are a resident of North Carolina and you fail to make payments on a debt as agreed, your creditor will typically initiate collection activity such as phone calls, letters and referral to a third-party collection agency. However, if you make no effort to bring your account current, your creditor may sue you in a North Carolina civil court. A civil debt judgment can pose several consequences, which may include wage garnishment under limited circumstances. Private Creditors Most private creditors cannot pursue wage garnishment in North...

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About Debt Recovery

When you buy a home or a car, your lender has a sense of security. That sense of security comes from the lender knowing that if you default on your loan, for any reason, your property can be repossessed. However, when a loan is not secured, as is the case with credit cards, your lender cannot show up to your house and take back whatever it is you bought with your credit card. The lender knew when credit was extended to you that the debt you incurred...

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Who Can Garnish My Federal Tax Refund?

There are numerous reasons that your wages can be garnished, but your federal tax refund has a special immunity from garnishment. Though that doesn't mean it can't be garnished, it is allowed for few reasons and can only be accomplished by certain entities. For the most part, federal benefits are exempt from garnishment by creditors and most civil lawsuits. Your income tax check is no exception. Allowable Reasons The entity that issues income...

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Can Creditors Come After a Relative After the Death of a Relative?

The only sure things in life are death and taxes. However, in some cases, a person will face taxes during death, too. This is because people are generally liable for back taxes, as well as certain other kind of debts, even after they have died. After a person has passed, creditors can attempt to collect on their debts from a person's estate. However, unless a relative co-signed on the debt, creditors cannot attempt to collect from next of kin. Debts Under U.S. law, when a person takes on a debt, he is the only person legally liable for...

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How to Write a Letter to Collection Agency

From time to time, consumers may find that they need to write a letter to a collection agency. In some cases, putting your information in writing is the only way to legally compel them to stop contacting you, such as when you are providing proof of payment, informing the agency that they may not call you at work, or advising them that they are trying to reach someone who does not live at your address. Instructions 1 Address the letter as you...

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How to Pay Legal Fees

A legal fee is part of the costs and expenses associated with your court case and is generally the amount being charged for your legal representation. You must pay these fees or risk losing your legal representation. If you hired an attorney to represent you but didn't pay her, she can cease to act on your behalf due to nonpayment and can start collection actions against you for the balance due. You should have a written agreement with any attorney you hire detailing the payment arrangement and amounts. Instructions 1 Use documented forms...

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Can Your Spouse's Credit Rating Affect Your Borrowing Capacity?

Maximizing your borrowing options could include using your spouse's income and credit rating. If you need your spouse's income to obtain a credit approval, your spouse should have a history of paying creditors satisfactorily. However, if your spouse has derogatory credit, you may opt to apply on your own. Generally, your spouse's credit should not impact your borrowing abilities, if he is not on the loan. If you have joint accounts that reflect negative...

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What Is the Best Way or Company to Consolidate My Debt?

Debt consolidation is one of the best ways to deal with mounting debt and increasing debt payments. By consolidating all of your debts into one, you may enjoy both lower interest rates and a lower total monthly payment. Most importantly, debt consolidation can help prevent missed payments or debt default, sparing your credit report from negative entries. Family and Friends While the danger of threatening good relationships exists whenever...

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How to Get Grants And Finacial Help For Widowed Mothers

Grants and financial help for widowed women with children are available to help pay for rent/mortgage, food, counseling, utilities, college, and child care. Agencies such as the Department of Social security, The Housing Authority, Department of Economic Security, Family Services, and the Health Department oversee government grant money used for such purposes. Foundation grant and assistance is also available for families that qualify. Instructions...

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Renegotiation of Debt

A debt structure is created by a contract between a lender and borrower. This contract specifies the terms of the loan, including length, payment schedule, interest rate and any collateral that may have been used. Both the lender and the borrower agree to uphold their side of the agreement, which for the borrower means making the required payments until the loan is paid off. However, borrowers with financial struggles often find they cannot uphold the original terms of the contract and may seek what is known as a renegotiation of debt. Renegotiation...

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How to Clean Up Your Credit for Late Payments Over 5 Years

A good credit score is essential for obtaining credit at favorable interest rates to purchase homes, cars, and other products and services. Many consumers experience a financial setback from a job loss, divorce or some other life emergency that forces them to pay bills late, ruining their credit score. The good news is that there is hope if you have less than perfect credit. By taking certain steps to rebuild credit and clean up errors on credit...

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Tricks for Removing Bad Credit

Resolving to improve bad credit can open the door to a host of opportunities. You'll improve your chances of acquiring a home loan, and you'll receive better rates on credit cards and other types of loans. There are various techniques to help you obtain a better rating. Try these tips, and you can add points to your score. Improve Payment History When mortgage lenders or banks review your credit report to determine whether you qualify for financing, they'll take many factors into account. They'll access your three-digit FICO score, and...

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Debt Relief From a Gambling Problem

Problem gambling is an addiction that can destroy one's life and those of his dependants. This addiction can affect any area of life, particularly health and work. Many problem gamblers incur great financial debt due to irresponsible and compulsive wagering. After you or your loved one have dealt with the problem gambling itself, there are measures debt relief measures you can take to get any damaged financial situation back on track. Seek Gambling Cessation Assistance First and foremost, you must seek help for your problem gambling. This...

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How to Reduce Your Interest Rate on Your Consolidated Student Loan

Consolidated student loans offer a longer payment term and a locked interest rate. Once you have consolidated federal student loans, you are unable to refinance them and reduce the interest rate, although your lender may offer a discount after you have a history of on time payments. However, if you have private consolidated loans, you may be able to find a lower interest rate by shopping for a new lender. Instructions 1 Contact your lender and ask for interest rate deduction. Some student loan companies may be willing to reduce your interest...

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How to Eliminate Credit Card Debt Legally and Ethically

Eliminating credit card debt legally and ethically could provide you with peace of mind. A sound payment strategy could end calls from debt collectors, improve your finances and and possibly raise your credit score. Many strategies are available for this, but you should choose carefully to pick the best program for you. Patience and commitment will be necessary as well. Credit card debt can be accumulated very quickly, but eliminating the debt can take much longer. Instructions 1 Enroll in a financial literacy class to receive a complete...

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The Statute of Limitations Regarding Medical Debt in Nevada

Medical debt is a financial burden that can balloon literally overnight. The debt may eclipse a debtor's income and render him unable to pay the cost of his medical service. In Nevada, a creditor attempting to collect a medical debt must operate within a specific statute of limitations. This is the total amount of time a creditor has to compel the debtor to repay the medical debt. Medical Debt Definition In Nevada and other states across the country, a medical debt is considered a written contract for the purposes of collection and repayment...

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How to Pay off your credit card FASTER

Ever pay your minimum every month for your credit cards and still get into more debt. Find out a simple plan to help you pay your credit cards faster. Instructions 1 take all your credit card bills and line them up so you can see what you owe. 2 now line them up in order of importance to you. It could be either the ones with the highest interest, the highest limit, the highest amount, etc.. 3 Each month we usually designate...

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Failure to Pay a Judgment

A creditor can file a lawsuit against you to obtain a money judgment. A money judgment is a court award in the amount the creditor established you owed in court, plus legal fees. Once a judgment has been entered against you, the creditor can use a number of collection methods to recover the money. Penalties and Fees The creditor may be able to add additional interest and fees to the total judgment amount you owe, depending on your state laws. The exact percentage or fee amount the creditor is allowed to add varies by area. The extra amounts...

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Tips to Fix Your Credit

Many people find themselves saddled with bad credit for one reason or another. Fortunately you can always fix your credit in time, even if you've been forced to go into bankruptcy. You will need to have a sound plan for managing your future use of credit and to keep track of your credit history to ensure accuracy. You may need assistance to resolve issues and answer questions. Don't hesitate to ask for help if you need it. Many credit problems can be fixed if you learn how or get expert help. Developing a Credit Management Plan Whatever...

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Can I Consolidate My Credit Cards Without Being Employed?

Sometimes when a person is in debt, one of the ways that he will seek to get out of debt is to consolidate his loans. This happens when the debtor takes all of his loans to a lender who buys them and gives him a new loan covering them all. While this option is available to many debtors, it can be harder if the person is unemployed. Debt Consolidation When a person has debts he is paying off to multiple creditors, he will often choose to simplify his payments by having a new lender pay off his outstanding balances and provide him a new loan....

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How Long Do Past Due Accounts Stay on Your Credit Report?

Past-due accounts on a credit report may hamper a consumer's credit rating for years. People remain in a cycle of poor credit ratings with each delinquent payment. That's because each year a late payment goes into a consumer's credit file, it takes several more years to remove it. Delinquent Accounts Information about past-due accounts generally remains in a consumer's credit file for seven years. However, not all late payments appear in credit reports. Many creditors and lenders don't report late payments to credit bureaus unless consumers...

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How to Get the Best Debt Settlement

Settling debts is often a harrowing experience, but one that more and more people are having to face. Getting the "best" debt settlement is not the same for everyone. It depends on how much money you owe, whom you owe (negotiating with the IRS will be very different from Lowe's), how panicked you are about creditors calling you constantly, and how good you are at negotiating settlements, especially when the person on the other end of the telephone is threatening you. Here are several strategies for settling debts. One of them will probably be the...

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How to Build credit fast

establishing a good credit score has never been as vital as it is in today's society. Your credit rating will follow you around wherever you go. When you want to buy a home, your credit rating will determine how much interest you pay a month. It will determine how much you can borrow. Employer's also review your credit score when you apply for a job. For young people, it is important to get on the right road in the beginning. Instructions...

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How to Set Up a Debt Repayment Plan With a Debtor Letter

Dealing with past due accounts can be stressful and disheartening. As bills continue to arrive at your door step, you may feel overwhelmed by mounting pressure to clear the debts as quickly as possible. Most creditors are happy to work with consumers wanting to bring past due accounts current. The process requires some legwork and a clear understanding of your financial strength and ability to repay a portion of the debt each month. Instructions 1 Determine your debt-to-income ratio. Divide the total of all your minimum payments by your...

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Can You Dispute a Payday Loan Transaction You Never Authorized?

Although payday loans differ from traditional loans in various respects -- they generally command a higher rate of interest, and lenders do not require much, if any, credit information from the borrower -- the laws that apply to them are, in most cases, identical. Under U.S. law, a party can only withdraw money from an individual's bank account if the person has the permission of the account holder or a judge. Payday Loans When a person takes out a payday loan, he is generally required to provide the lender with some way of being repaid...

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How to Get a Long-Term Loan With Bad Credit

Bad credit not only affects the type and cost of loans, it can affect your housing and employment, as well. Long-term loans can help rebuild your credit, but it's important to improve your credit as much as possible prior to applying for financing. There are a few quick fixes, but many substantive changes can only take place with long-term fiscal discipline. Regardless, it is still possible to qualify for long-term loans with bad credit. Instructions...

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Bank Account Levy Limits

If you default on your debts, your creditor has the right to sue you for the amount of the debt. If you do not appear in court, or the court determines the debt is legitimate, it enters a judgment against you for the amount of the debt. Creditors can then ask the court to garnish your wages or levy your bank account. Levying your account is the most serious form of collection activity because your creditor can take your entire balance. Judgment Amount Bank levies are not limited to a certain percentage of the assets in the bank. Instead,...

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The Truth About Debt Relief Programs

Debt management and settlement firms promise to help you reduce interest rates, stop fees and even reduce some or all of your outstanding credit balances. These firms do provide legitimate services and often succeed in accomplishing those goals. However, beyond the above promises, there are some items to consider that firms are not too keen on including in their advertising messaging. They Do Not Always Work Just because a debt-management...

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How to Garnish Wages in Michigan

Michigan plaintiffs who receive judgments in their favor may request a writ for garnishment if the debtor does not attempt to pay the outstanding debt. The Consumer Credit Protection Act prohibits garnishments that total more than 25 percent of the debtor's disposable income. Choosing the appropriate writ and following the correct procedures improves the chances of receiving payment. Instructions 1 Determine the type of garnishment needed. Michigan allows three types of garnishment writs. Periodic garnishments collect against wages, rent...

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