Welcome to our website credit and debt managementr.

New offers options to American consumers who need an effective debt reduction plan. We have settled over 150 million dollars worth of unsecured, credit card debt while saving clients thousands of dollars. AmeriGuard believes it is important to make an informed decision especially when it affects your financial health. Understanding your options can be overwhelming; that’s why we offer experienced, knowledgeable guidance along the way. provides the information you need to participate in creating a better future..

Saturday, August 31, 2002

7 Steps to Managing Debt

Debt is probably the largest threat to your financial stability. For this reason, you have to approach your debt aggressively and make a concrete plan to reduce -- or ideally, eliminate -- it. Attacking your debt sometimes is overwhelming, but you can make it less so if you break your approach into distinct, smaller steps. Assess the Debt Picture Know exactly how much debt you have. Look at your bills and any statements from lenders and creditors and write down what you owe on each account. Then add up all the amounts to get the total,...

Definition of Reasonable Debt

Reasonable debt is something that you have to define for yourself. If you ask a real estate broker or jewelry salesperson what is reasonable debt for you, the answer will probably be different than if you ask a financial counselor. You must decide for yourself what is reasonable for your own circumstances using sound financial guidelines and planning, preferably by keeping a budget. 20 Percent Rule Some advocate using the 20 percent rule when considering how much debt is reasonable. This means that the amount of your monthly payments for...

Friday, August 30, 2002

Can You Put a Secure Debt in a Debt Settlement Program?

A debt settlement program takes your debt and reduces the amount you owe. This means that your creditors will forgive a portion of your outstanding debt. Most creditors will not agree to debt settlement unless you have fallen behind on your payments. It is an option if you are overwhelmed with debt, but it will negatively affect your credit score. Secured debt cannot be included in a debt settlement program. What Is Secured Debt? Secured debt is debt that has an item that stands as collateral for the debt. A mortgage, a car payment or a...

Can I Still Get a Credit Card on Unemployment?

When you lose your job and begin collecting unemployment benefits, your income is greatly reduced, since unemployment benefits pay between 50 and 60 percent of your average work pay. For many people, this means they have trouble paying their bills. Having a credit card to use would act like a loan and allow you to continue making payments, though you are also creating additional debt for yourself that will have to be paid back. Regular Credit Cards You may still be able to get a regular credit card if you are receiving unemployment benefits....

Debt Risks

Americans owe billions in debt, most of which is wrapped up in real estate -- that is, mortgages -- and revolving debt like credit card debt. The commonality of debt, however, doesn't negate the problems of being financially in the red. Although it's sometimes not possible to live an entirely debt-free life, awareness of the risks associated with debt helps you be responsible with the debt you accept. Future Financial Instability When you...

Thursday, August 29, 2002

How to Write to a Credit Reporting Agency

Credit reporting agencies require many requests to be made in writing -- to dispute information, to request a security alert be placed or removed in your file. You need to be thorough and include all necessary data for your correspondence to be recognized. Instructions 1 Visit each of the three major credit bureau websites, Experian, Equifax and Transunion online. Each of them will have a unique credit file for you, and you will need to correspond with each one. Their websites should have their current mailing address for consumer correspondence....

Tuesday, August 27, 2002

How to Transfer a Credit Card Balance From a Bank Overdraft

Many major banks offer overdraft protection as an additional credit line attached to a bank account. These overdraft accounts are considered credit accounts, and how you pay on the overdraft will be reported to the three major credit bureaus (TransUnion, Experian and Equifax). If you want to transfer the balance in your overdraft account, you first need to get a new credit account. Instructions 1 Review the terms for your current overdraft...

Monday, August 26, 2002

The Do's and Don'ts of Settling on a Debt Resolution Company

When you're in debt, finding the right debt resolution company entails examining the different options available. Some companies will offer debt consolidation, as well as credit counseling. Some companies also offer the option of debt negotiation. Before engaging with any company, always check out the history of the company and investigate them through the Better Business Bureau. Options Several options are available when you're considered...

How to Request Free Yearly Credit Report From Three Major Credit Bureaus

Under the Fair Credit Reporting Act, every consumer has a right to request a free yearly credit report from the three major credit bureaus. These three companies (Experian, Equifax, and TransUnion) jointly sponsor Annual Credit Report Service. This service is the sole provider of free credit reports authorized by the Federal Trade Commission. The credit reports you get won't include your credit score (you have to pay for that) but do include all of the information that is currently in your credit history. Instructions 1 Decide how you want...

About Hardship Loans

Credit card debt in America is a swirling, unending problem. The consumerism embraced by citizens--and politicians--creates an atmosphere of insatiability. Customers must have the new "it" thing, and lenders are all too willing to finance such purchases. Later, lenders may be called on to help strapped consumers pay down overwhelming debt -- often by the use of so-called hardship loans. Basics A hardship loan can take many forms. Most lenders offer a hardship or "rescue" loan of some variety. These loans serve to help consumers get back...

Sunday, August 25, 2002

Advice on Improving Credit Ratings

Your credit history tracks how well you've maintained your adult financial life and can help determine whether or not you can get a new car, a new home and---in some cases---a new job. Whether you've faltered and need to improve your credit score, or you feel like you need to keep better tabs on your credit, paying attention to the details is one of the most important steps you can take. Payment History Paying your bills late is often one...

How to Legally Cut Your Monthly Mortgage Payment in Half

The only way to legally cut your monthly mortgage payment in half is to rework the terms of the loan. Banks, credit unions and mortgage companies have programs for reducing mortgage payments. However, a reduction of 50 percent is an extremely aggressive goal and is sure to require some shrewd negotiation and creativity. You may have to settle for a mortgage payment that is reduced by 50 percent over a temporary period and then escalates to a higher but affordable level from there. Instructions 1 Make an appointment with a nonprofit housing...

Friday, August 23, 2002

Colorado Statute of Limitations on Credit Card Debts

Colorado places some limits on how creditors and debt collectors pursue residents to collect old credit card debts. The state restricts the length of time that consumers can be subjected to legal action over credit card debts. Yet, Colorado laws don't erase any debts that residents may owe their creditors. Colorado Statute The statute of limitations on credit card debt is the amount of time that a card issuer has to take legal action against consumers to collect unpaid debts. That legal action includes filing a lawsuit to collect the debt...

How to Settle Debt With a Collection Agency

When a debt has went to a collection agency, bill collectors will try to pressure you into paying more than you can afford. This is because they have bought your debt at a reduced amount and want a return on their investment, and quick! Most bill collection agency debts have been bought for pennies on the dollar. You can use this to your advantage when trying to settle debt. Here's how! Instructions 1 Do not agree to pay more on your debt...

How Can a Woman Build a Good Credit History?

Women need to build and manage their own credit histories in order to have better financial options when it comes to borrowing money or financing large purchases. Often, women assume that their credit history is combined with their spouse's credit history. However, that is not the case. Each individual has his own credit history and credit score. Credit Report Basics Your credit report is attached to your Social Security number. Your report should list your correct name, past addresses and current address. If you have changed your name...

Overwhelming Credit Card Debt

People with overwhelming credit card debt face a few unpleasant options. They include getting yourself deeper into debt or taking a major hit to your credit rating. If you believe you can eventually pay off the debt, consolidation under the lowest interest rate is the best choice. Put Away the Credit Card Stop piling on more loans. Put away the credit card and do not accept loans from friends or relatives. Be especially wary of payday lenders that charge heavy interest rates. The best option is to use debit cards or cash to make payments....

Thursday, August 22, 2002

Debt Help Information

Anyone interested in emerging from debt may find it difficult to find accurate information from trustworthy sources to help them get on their way to financial freedom. By getting the right information the first time around, consumers may avoid not only lots of time and frustration, but possibly thousands of dollars that could easily be lost to scams. Federal Trade Commission The Federal Trade Commission (FTC) website contains useful and accurate...

How to Challenge a Debt

Constant calls from a debt collection agency are bothersome, especially if you are wrongly accused of a debt. Bill collectors who call you in an attempt to collect debt must be in compliance with the Fair Debt Collection Practices Act. Avoid answering questions or admitting to any debt over the phone. Inform the collector that you wish to handle the matter directly with the creditor. Insist they follow the FDCPA and send you information on the debt...

What Are the Keys to Paying Off Bills in a Timely Manner?

One of the key elements to getting a mortgage or other large loan is your credit rating. The better your rating, in general, the better chance you have of getting a loan at an attractive rate. One of the best ways to establish a good credit rating is by paying off your bills in a timely manner. Good reports from many small creditors such as department stores and utility companies can add up over time to great numbers on your credit score when you...

Wednesday, August 21, 2002

Refinance Vs. Prepayment

Debt is money that was borrowed from a person or business that you are required to pay back with set guidelines. Prepayment and refinancing are two ways to pay off one's debt. Prepayment Prepayment is paying some or all of your debt before it is due. This reduces the principal amount of the loan. Refinancing In refinancing, you pay off existing debt with a new loan for the same amount. This often involves using the same collateral that was used before. Sometimes refinancing fees must be paid up front. The Choice Whether...

Tuesday, August 20, 2002

How Does Compound Interest Work to Relieve Debt?

Debt is enjoyable until the bill comes in the mail. At this point, individuals must find a way to repay the debt without paying too much interest. Compounding interest can make it difficult to pay off debt balances in a timely manner. Facts Compound interest enables lenders to increase an individual's balance each day. Using this interest method, the company adds interest to the principal and the previous days' interest. Most lenders levy interest on debt balances daily, growing the balance exponentially over time. Function To decrease...

How to Increase Your Credit Score in 1 Year

According to Experian, the average consumer's credit score is between 600 and 750, and the credit reporting agency considers anything above 700 to be a good credit score. This means many people fall below the good range. Raising a credit score is not easy, but is possible. With a little diligence, anyone can raise their credit score in one year. Instructions 1 Log on to www.annualcreditreport.com and complete the required information to obtain...

Spousal Debt Responsibility

Separating couples must deal with issues of spousal support, child support and custody as well the division of their marital estate. While people tend to think about property division in terms of splitting up their assets, the debt division aspect is equally important. A party can be held responsible for some or all of the other party's debts in a divorce case. Community Property and Equitable Distribution States divide a couple's marital...

Definition of Credit Counseling

Credit counseling deals with helping consumers manage and control their debt load. One of the functions of credit counseling is to help educate and counsel consumers about the pitfalls of accumulating too much debt. There are several programs that counselors can use to help those who have amassed too much credit. These programs can help consumers pay off their debt in a shorter time period by reducing their costs. Definition Credit counseling educates and counsels consumers about the downfall of accumulating too much debt. If you cannot...

Monday, August 19, 2002

Credit Card Cease & Desist Letter

The Fair Debt Collection Practices Act protects consumers from harassment or coercion by debt collectors, including those collecting credit card debts. Creditors cannot threaten or abuse debtors and cannot harass them by calling repeatedly or at unreasonable hours. In addition, if a debtor requests it in writing, the collector must cease all contact with him regarding the matter, except for sending required legal notices such as notification of a lawsuit. Purpose If you do not want a debt collector to contact you, you have the right to...

Sunday, August 18, 2002

Can a Pension Be Garnished or Seized by Creditors?

If you have a judgment against you, a creditor may attempt to garnish your wages to ensure that you pay the debt. To do this, he must return to court and get a court order that requires your employer to withhold the payments. If you aren't working and are retired, your creditor may try to go after your pension. Some pensions are exempt from garnishment by federal statutes, while others are subject to state laws. Exempt Pensions Certain pensions are exempt from garnishment by federal statute. These pensions include Social Security, Railroad...

Mortgage Help for the Laid Off

Job layoffs are common during tough economic times, and losing your job usually means a drop in income, or loss of income altogether. Having a savings account for emergencies and taking advantage of unemployment compensation can help after a layoff. But rather than deplete your savings, consider talking to your mortgage lender to see if it can rework your loan and save you money. Significance Mortgage help after a layoff helps you remain in your home. Missing home loan payments for several months can prompt your mortgage lender to begin...

Saturday, August 17, 2002

What Is the Max I Can Be Garnished on a Car Loan?

When you enter into a legally binding contract to purchase a car and then default on the payments, the lender will repossess the vehicle. If you don't "redeem" it and pay what you have to in order to get the car back, the lender sells the vehicle. If the car sells for less than the balance you owe, this is called a "deficiency," and in most states, the lender can sue you for this amount. If the lender gets a deficiency judgment against you, it can...

How to Write an Expense Account

Employees incurring expenses while performing their jobs are usually reimbursed after providing an accounting of the expenses. The employee must gather complete information about the expenses and submit the information in an expense report. Expense reports list various expense categories such as air travel and entertainment for clients. Some employers provide online tools for completing the expense report by computer and then printing it, if necessary, for submission. Instructions 1 Review your company's policy for writing expense reports....

How to Handle Cancelled Debt

Handling cancelled debt is a straightforward process for debtors and creditors. Debt cancellation occurs when a creditor and debtor agree to resolve a delinquent account through debt settlement. Usually, the creditor agrees to settle the account for less than the full balance, creating a savings for the debtor. The solution is often favorable for both parties. The creditor resolves a delinquent account that appeared to be noncollectable, and the debtor pays off a bad debt affecting his credit rating. Instructions 1 Check the amount of the...

Friday, August 16, 2002

What Is the Purpose of a Credit Report?

Few things in life follow you like your credit report does. Understanding the impact your credit report can have on your financial and personal goals begins with a look into the purpose of a credit report. From what goes on your report to who has a legal right to look at your report, consumers should understand the basics of credit reports. Data Collection The compilation and tracking of personal, financial and employment information over...

Thursday, August 15, 2002

Legal Issues with Debt Settlement

By taking advantage of a debt settlement, you may be able to satisfy an outstanding debt for much less than you actually owe. Both you and your creditor can benefit from a settlement agreement. The creditor benefits by receiving a payment it would not have otherwise received, and you benefit by avoiding a lawsuit. A debt settlement agreement can, however, give rise to legal issues that all consumers should be aware of in order to avoid unpleasant surprises later on. Taxes If your creditor forgives more than $600 of your original debt, you...

How to Assume a Spouse's Pre-Marriage Debts

It is not difficult to assume a spouse's pre-marriage debts. The law does not require you to assume your spouse's pre-marriage debts, and will divide them accordingly during a divorce. However, if you do assume the debts while you are married, you will be held responsible for them if you were to get divorced. One reason to assume the debts is if you are trying to improve your combined credit score to purchase a house or a car. Additionally, paying...

Advice for Cleaning Up Credit

A clean credit report can help you get better interest rates on your financing, give potential employers a better opinion of you and even help you to rent a nice apartment or home. There is a great deal of information on your credit report that is collected from many different sources. In some cases, the information may not be correct. It is a good idea to clean up your credit report at least once a year to help keep your credit score as strong as it can be. Basic Credit Report Information According to federal law, every United States consumer...

Financial Debt Management Planning

Debt management is something that can help you get control of your finances and make your life easier. In order to organize your debt, you need to have a financial plan. You can formulate your own financial debt management plan, or there are organizations that can help you. Start as Soon as You Can Debt management is something that you will be doing your entire adult life, and the sooner you start to put plans in place, the easier it will be in your later years. Begin a retirement plan as soon as you start working, and stay with it throughout...

Wednesday, August 14, 2002

Debt Cure Secrets

Many of us have to live with debt as part of our daily lives, whether it is mortgages, bank loans or credit card debts. If left unchecked, debts can create huge problems for the debtor, including damaged credit rating, high interest rates and an inability to secure future loans. Eliminating a debt often takes time and discipline. A few secret tips can make the process easier. Reduce the Principal After taking on debt, some people focus solely on their minimum monthly payments, which often constitute the interest only. That keeps the debt...

How Many Times Can You Forbear on a Student Loan?

Many lenders for student loans allow the borrowers to apply for forbearance. This is a special loan status that allows the borrower to make reduced payments or stop making monthly payments for a while. Putting a loan in forbearance can alleviate stress on your budget, without damaging your credit score with missed payments. Total Limits Federal student loans allow borrowers to have no more than three years, or 36 months, of forbearance. Federal student loans include Stafford, Perkins and PLUS loans. Private lenders set their own caps that...

Debt Reduction Plan for Creditors

Debt reduction plans are commonly known as debt settlements and debt negotiations. A debt reduction plan works with both the debtor and the creditor in lowering a debt that is owed. At times a third party will assist in making these plans and can assist in lowering the debt owed by up to sixty percent. How Debt Reduction Plans Work Debt reduction plans vary based on the individual's situation. Some individuals will opt for claiming bankruptcy prior to trying to alleviate the debt themselves. This can be done by hiring an outside agency...

Does Using a Debt Consolidation Company Hurt My Credit?

If you are considering debt consolidation, chances are you are already deeply in debt and your credit score may be suffering. If this is the case, using a debt consolidation generally company won't make it any worse, though there are exceptions. If credit score is a concern to you, then it is best to carefully review each program to see how payments are managed and reported to credit bureaus. The Debt Consolidation Process Debt consolidation...