Where to Get Help to Pay the Bills

Whenever the economy is in turmoil and unemployment is high, it's hard for everyday people to pay their bills. But there are positive steps that can be taken to ease the worry of payments due. Get a Job To find employment, start with your local job center (aka "unemployment office"), where you can also find placement services and assistance with resumes. Also, apply with temporary employment offices, check daily newspapers and network with employed friends to find job openings in their places of business. Not only does employment bring...

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Is it Legal to Garnish Wages From a Spouse of an Employee?

According to U.S. law, the only person who can be held legally responsible for a debt is the person who incurred it. This means that a person cannot be sued or otherwise pressed by creditors to pay a debt that they did not themselves guarantee. This holds true even for debts incurred by spouse. A creditor cannot pursue payment of a debt from a spouse who did not incur it and cannot garnish his wages. Debt Law When a loan is taken out or a debt is otherwise incurred, the two parties -- the creditor and the borrower -- generally specify the...

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Am I Responsible for My Husband's Credit Card Debt After a Separation in Florida?

Florida law does not recognize spouses as legally separated until they actually divorce. Additionally, the state does not follow community property laws. This means a wife has no responsibility for a husband's debts if they have separate accounts. It is a good idea to discuss the division of your debts before writing out a settlement for divorce so that both parties agree. Community Property In Arizona, California, Idaho, Louisiana, Nevada,...

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Does Leasing a Car Count in Your Debt to Income Ratio?

Calculating your debt-to-income ratio can be sobering because it forces you to account for your monthly expenses and determine if you're too deep in debt. Some living expenses generally aren't included in the ratio, but it's important to include auto lease payments. Vehicle and housing expenses are often the largest debts people have, so excluding those costs creates an inaccurate debt-to-income ratio. Function The main purpose for calculating a debt-to-income ratio is to determine whether the total amount of your debts exceeds or nearly...

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What Does Student Loan Forbearance Mean?

If you are having difficulty making your student loan payments, contact your lender. You may be able to suspend your payments for a period while you get your finances in order. Forbearance Forbearance is permission from your student loan servicer or lender to postpone payments or, in some cases, to make smaller payments on your loan. Lenders grant forbearances for many reasons, including temporary financial hardship, and a forbearance can...

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How to Find Out How Much Debt I Owe for College

Going to college can be a rewarding experience. The knowledge you gain and the friendships you make could last you a lifetime. A college education, however, can be one of the most costly undertakings you pursue, costing tens of thousands of dollars to cover tuition, room and board. Although the United States Department of Education, the entity that backs most student loans, gives you a six- to nine-month grace period to begin loan repayment after graduation, you can find out how much student loan debt you owe and work the payments into your budget...

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How to Calculate How Much of a Credit Card Payment Goes to a Transfer Balance & a Purchase Balance

When debt is transferred from one credit card to another, that balance is known as a transfer balance. If you have a balance from purchases, the two become separate balances that need to be paid off. Each payment you make counts toward each balance you have on the card. Instructions 1 Make a note of what your current transfer and purchase balances are. Remember that they are two separate balances and are typically not joined together. 2 Make a payment on the credit card. You may elect to do this online, though a phone, or in-person...

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The Problems of Debt

Even though most Americans live saddled with at least some debt, being in debt is not advantageous in general. Debt carries with it multiple problems, some of which may linger with you for years. Eliminating these problems usually means eliminating the debt, which is not always easy, depending on your situation. It usually takes time to make the problems associated with your debt go away. Credit Lenders are highly concerned with your ability to pay back a debt. This is simply a matter of profit and revenue--they want to know whether you...

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Can Credit Card Companies Garnish Military Retirement Pay?

Retired service members of the U.S. Armed Forces will be happy to know that their retiree pay cannot be garnished to satisfy credit card debts, according to the Defense Finance and Accounting Service. However, federal law does allow military retiree pay to be garnished in order to satisfy child and/or spousal support obligations. What is a Garnishment? A court must order a garnishment in which a portion of an individual's salary is used to pay a creditor, according to the Department of Labor. Defense Finance and Accounting Service ...

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What Happens to My Credit If I Foreclose?

Many Americans face foreclosure on their homes every year. Over 13 percent of home loans were at least one payment past due or already in the foreclosure process in the third quarter of 2010, according to a Mortgage Banks Association survey of 44 million loans. Foreclosure means that you lose your home, and it also devastates your credit bureau files. Credit Rating Your credit rating takes a severe blow when your home goes through foreclosure. The incident is placed on your credit reports by the Experian, Equifax and TransUnion credit bureaus,...

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How to Write a Letter to Request That Creditor Remove Bad Credit Reporting

If you have information on your credit report you believe is erroneous, you have a right to write to the credit reporting agencies and request an investigation. The credit reporting agencies, in turn, must either verify that the information is correct or remove the information from your report. They do not have to remove information that is accurate. You cannot force them to remove accurate negative credit reporting, but they are required by federal law to remove anything that is inaccurate or which they cannot verify. Instructions 1 Request...

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Consumer Debt Questions

As of 2010, the total amount of consumer debt in the U.S. was $2.4 trillion, or roughly $7,800 for every U.S. citizen, according to the Money-Zine website. Debt problems can prohibit you from buying a house or car, getting a job and it might even impact your personal relationships. Not everyone struggles with debt, but those who do need to ask some serious questions to help resolve the issue. What is My Debt-to-Income Ratio? It is important...

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Credit Repair Industry

If you are looking for a loan but your credit score is too low for you to qualify for the best rate, or for a loan at all, given tightening credit markets, you may look for some outside help. The credit repair industry is ready to help fix your bad credit, and let you qualify for a loan. However, the Better Business Bureau warns that some of these companies are dishonest. Disputing Negative Entries The way that most credit repair services increase credit scores is by getting negative entries removed from your credit report. They commonly...

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Can Collection Centers be Authorized to Run a Credit Check on You?

When you fail to pay a debt as agreed, your creditor may refer your delinquent account to a collection agency, a business that seeks to convince individuals to pay back past-due debts. A collection agency can use myriad tactics to convince you to pay up, including sending numerous phone calls and letters, tacking on fees and even suing you in a court of law. Additionally, collection agencies can check your credit report. While checking the report won't affect your score, what else an agency will do to the report surely will affect it. Background...

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What Happens if You Inherit Money After Being Foreclosed?

A foreclosure can have a devastating impact on your personal life, as well as your finances. Foreclosure also appears on your credit report, and can severely impact your ability to obtain loans and credit cards in the future. If you receive an inheritance after a foreclosure, the amount you inherit may also be at risk. Foreclosure Deficiency In a foreclosure, the mortgage lender sells your home, usually at a public auction or through a real estate agent. However, the sale price of the home may not be enough to pay off the balance of your...

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How to Get Help with My Debts

Debt surmounts and becomes uncontrollable for various reasons such as unemployment, illness, divorce and mismanagement of finances. According to financial expert, Suze Orman, excessive credit card debt is at epic proportions in the United States among the rich and poor. Help is available to get your financial situation under control and alleviate the stress associated with excessive debt. Instructions 1 Contact a debt relief agency or attorney...

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How to Update an Incorrect Death on a Credit Bureau Report

Because credit bureaus handle the credit reports of millions of people in the United States, they sometimes make mistakes. Unfortunately, one of these mistakes is reporting an incorrect death on someone's credit report. Fortunately, there are legal procedures you can take to have the information corrected, thanks to the Federal Trade Commission's Fair Credit Reporting Act. When making updates, check with all three credit bureaus (Experian, TransUnion and Equifax) to make sure they are all reporting the right information. Instructions 1 ...

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California Debt Relief Programs

Debt relief programs can range from bankruptcy assistance to credit counseling services, notes the California Department of Justice. Before filing bankruptcy or signing up for a debt management plan, Golden State residents should carefully evaluate all possible financial and emotional implications. Some types of debt relief, including bankruptcy, can damage credit ratings for seven to 10 years. Debt Management Plans Be careful before signing up for a debt management plan through a credit counseling agency, advises the California Department...

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Can a Credit Card Company Garnish Your Wages in Tennessee?

If you live in Tennessee and fall behind on paying off a debt, your creditor may be able to garnish your wages. While you can often prevent wage garnishment by working out a payment arrangement with your creditor, in some cases, you may need to go to court in order to protect your funds. Wage Garnishment In a wage garnishment, your creditor sends legal papers to your employer that require it to deduct a portion of your wages and then send it to your creditor. This process continues until your debt is paid off. In most cases, your creditor...

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Grants for Going Back to a University for a Master's Degree

Many college students know that they want to pursue a master's degree right after receiving their bachelor's degree even before completing their undergraduate education. Some individuals test the real world for a while before deciding to come back. Either way, many organizations and foundations offer grants to students pursuing a master's degree of study. Most grant-funding organizations limit their applicants to certain fields of study. American Association of University Women The American Association of University Women offers various...

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How to Negotiate a Delinquent Student Loan Debt

When you fail to pay a student loan on time, the surcharges and interest start to mount. What you owe on a student loan can double in only a couple of years, and if you ignore it, it just gets worse. It can be paralyzing to think about the debt you've amassed. Fortunately, there are ways out. You can negotiate a lower payment on your delinquent student loans, and even negotiate to reduce or eliminate the fees and surcharges. The Federal Student Loan Direct Loan Servicing Agency also has easy-to-meet payment plans for low-income debtors. Instructions...

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How to Locate Judgment Holders

If you've recently been denied credit or simply wish to clean up any bad credit that you know appears on your credit report, you need to pay off any judgments that have been entered against you. If you're unsure what judgments have been entered against you or who the original creditor is, you need to locate the necessary information and begin to clear up your judgments. Instructions 1 Request your credit reports from the three major credit bureaus: Experian, Equifax and TransUnion. If you haven't requested one within the past year, you're...

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Debt Relief Secrets

Taking control of your financial life is incredibly empowering, especially if you've resolved to pay down that expensive, worrisome habit commonly known as debt. When bills are piled up high and you're not sure where to begin, don't hide; grab your statements, a calculator and your phone. You may be able to do the heavy lifting yourself. If not, there are plenty of resources available to help. Just don't give up. You Can Do It Yourself Perhaps...

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Are Paid Accounts Good on Your Credit Report?

The information in your credit report helps lenders evaluate your creditworthiness by preparing them for what to expect when doing business with you. A history of paid accounts demonstrates that you manage your debts responsibly and are likely to pay your debts on time -- making paid accounts a positive feature on your credit report. Payment History Lenders closely evaluate your history of payments to current and past creditors when you apply for new debt. Even if you have yet to pay off your accounts in full, the fact that you paid the...

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What Is the Time Limit on Garnishment in Nevada?

Wage garnishment is the legal process by which creditors can collect on debt by having money automatically withheld from the debtor's paycheck. In the event the court decides to grant a writ of garnishment, the employer, called the garnishee, is required to hold a certain percentage back -- normally no more than 25 percent -- and send it to the court for distribution to the creditor. There is a statute of limitations for this type of legal action...

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Consumer Credit Card Debt Help

Make debt elimination a priority and quickly erase your outstanding balances. Debt is a vicious cycle, and if you are unable to control spending, you could spend the greater portion of your life paying down high credit card balances. Once you've paid down debt, you'll be free of that cycle and your credit score will likely improve. Automated Payments Automated payments set up with your personal bank and creditor takes the hassle out of paying bills each month. Signing up for this service is usually free, and once enrolled, monthly payments...

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Help With a Debt Crisis

When debt has reached the point of being a crisis, it helps to have someone with expertise help you devise a plan for getting out of the crisis. Agencies such as those connected with the Association of Independent Consumer Credit Counseling Agencies and the National Federation for Credit Counseling offer free counseling services and low-cost or free assistance with debt consolidation and bill paying. Sometimes, they advise bankruptcy. Credit...

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How to Respond to a Credit Line Reduction

It has been happening to numerous cardholders, because of the financial crisis and in recession credit companies are reducing consumers line of credit, but to reduce without notifying the cardholders is an outraged. Most companies are not notifying the cardholders of any modifications toward their reductions pay close attention to your monthly statements. Cardholders are more likely at risk if they have use their cards close to their credit limit or to the max. Even though you pay on time or you've been with the company for years you may...

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Can Your Wages Be Garnished for Repossession in Florida?

Garnishment is one of the tools creditors use to get money when you can't pay. Rather than wait for you to write the check, your employer diverts a share of your wages to your creditor each payday until the account is closed. It's possible someone who's repossessed your car could also garnish your wages, but Florida law protects your wages better than many states. Repossession in Florida In Florida, your auto lender can seize your car the moment you default on the loan. She can send someone to your property to repossess a vehicle without...

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What Is Debt That Raises Capital?

Sometimes, a company may wish to raise capital to finance an expansion or to pay for certain expenses. There are a number of ways in which a company may go about doing this, including opening the company to investors or securing a loan. However, some companies choose to issue debt. This means that the company provides debt obligations to investors in exchange for an agreement to pay them later, usually with interest. Raising Capital Even a successful company may not have enough cash on hand to finance an expansion. Occasionally, the company...

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Should I Use My Savings to Pay Credit Cards Off?

It Can Save You Money. If you have debt, you are almost certainly paying regularly accrued interest on it. If you have money in savings, hopefully you are earning interest on it. However, depending on your interest rates, you are most likely paying more in interest to the credit card companies than you are earning on your savings. Cashing Out Savings Can Be Dangerous. While paying off your credit card debt with savings can be mentally and financially freeing, it can also get you into hot water if you have an emergency and are left...

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Tips for Correcting a FICO Score

Developed by the Fair Isaac Corp., a FICO score is a number from 300-850 that you're given based on your credit and payment history. Having a higher number is desirable and will make it easier to access credit when you need it. By using credit wisely, you can correct your FICO score, and when you're short on cash, you'll still be able to purchase the things you need. Check Your Credit Reports According to the Federal Trade Commission, you can request a free copy of your credit report annually from each of the three major credit bureaus,...

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How to Build Credit With a Prepaid Credit Card

A prepaid credit card, also called a secured credit card, is a good option for those who haven't yet established credit or who have poor credit and are trying to rebuild their credit scores. A prepaid credit card requires you to open a savings account with the credit card issuer that ranges from a few hundred to thousands of dollars. The credit card issuer then allows you to access a credit line that's a certain percentage of your deposit amount, which can be between 50 and 100 percent of the total. Secured credit cards can be used to pay for goods...

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How to Deal With an Unstable Job

Dealing with an unstable job can cause extreme stress and worry, especially during tough economic times. An unstable job can lead to unemployment without notice, such as a layoff -- or even the closing of the company. Dealing successfully with an unstable job requires you to put your emotions aside while making good career and business decisions for you and your family. One of the worst moves is waiting to see what happens with your unstable job. Getting out in front of a possible layoff could allow you to transition to a new position without missing...

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How to File a Debt Management Plan in Missouri

Missouri reports on its website that a debt management plan is a written agreement between you and a "debt adjuster," such as a nonprofit credit counseling agency. The state reports that the agreement establishes that the debt adjuster will perform debt management services for you for a fee. The terms of the agreement are negotiated by you and the debt adjuster. The agreement becomes a contract and is considered official--or filed--when both sides agree and sign. Instructions 1 Search the database for the U.S. Trustee Program to find a...

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How to Run a Debit Card as a Credit

Your debit card looks like a credit card, but functions very differently. A debit card is connected to the funds in your checking account. When you use your debit card, your bank immediately removes the funds from your checking account. You have the option, however, to use your debit card for credit transactions. Like debit transactions, credit transactions on a debit card pull funds directly from your checking account. The difference is that credit...

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Can a Mortgage Company Garnish Wages?

When a person takes out a home loan, this loan is nearly always secured by the home itself, which acts as collateral. If the person goes into default on the home loan, the company that issued the mortgage may initiate foreclosure proceedings. In many states, if the home is foreclosed upon and sold, the former owner is no longer obligated to pay the lender anything. However, in some areas, he may owe additional fees, which the lender may attempt to gain through garnishment. Foreclosure Fees When a home goes into foreclosure after the borrower...

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Can Your Check Be Garnished for Old Credit Cards?

Garnishment of your check for an old credit card debt is possible, but there are limitations. State statue of limitation laws limit how long credit card companies and other debt collectors have to pursue an old debt in court. The length of time varies depending on the state, but the average is about six years. After that, civil courts consider credit card debts as too old for consideration by the court system. Identification Wage garnishment forces employers to send a certain percentage of your paycheck to a debt collector each month for...

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Comparison of Consolidated Debt to Paying Off Credit Cards

People who are struggling to pay their debts may think using one loan or a line of credit to pay off several debts is a quick fix for their financial problems. Those methods may work for some people, but others find themselves deeper in debt due to the high-interest charges that often come with loan and credit card consolidation options. Debt Accumulation Debt consolidation often involves taking on more debt to solve a financial problem. Yet that can create more problems for consumers who don't reduce their spending and change other behaviors...

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