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..

Friday, October 31, 2003

How to Avoid Legal Issues With Debt Collectors

Avoiding legal issues with a debt collector is key to averting a day in court and a possible credit judgment. Not every debt collector pursues an unpaid debt in court. However, if threatened with a lawsuit, it is important to contact debt collectors immediately to resolve the issue. Several methods can help you avoid legal issues with debt collectors. Know your options, and then take action. Instructions 1 Keep up with monthly minimum to avoid...

The Consequences of Not Paying Debt

To purchase some big ticket items, such as cars and houses a certain amount of debt is acquired by the average consumer. This is in addition to unsecured debt, such as credit cards and personal loans. If the amount of debt becomes overwhelming, it is tempting to not repay your creditors. However, not repaying your debt can have serious financial consequences that can affect many areas of your life. Credit Score Your credit score is directly affected by the amount of debt you have and the timely repayment of said debt. If you fail to make...

Thursday, October 30, 2003

Laws on Unpaid Credit Card Debt

If you were to poll people who had recently filed for bankruptcy about their reasons for doing so, you would find unpaid credit card debt ranked high on the list. During times of financial trouble, paying off credit card debt is not as much of a priority as basic necessities. If you find yourself with any unpaid credit card debt, it is important to understand the laws that regulate it in order to prepare for the consequences you might eventually...

What Is the Difference Between a Personal Loan & Debt Consolidation?

Navigating through a debt consolidation loan sometimes takes time before you feel comfortable with the details. A personal loan is simply a single loan you can choose to use for debt consolidation or other purposes. If you want to consolidate your debts, you should evaluate various options before agreeing to take on a new loan. Personal Loan A personal loan is a loan a lender gives a borrower, typically for a low amount and without requiring a security agreement or collateral. For example, if you take out a car loan, the lender typically...

About Bad Credit Loans

When times are tough, and credit scores are low, a bad credit loan can seem like an ideal opportunity. Although they have their advantages, borrowers of these loans will find it more to their benefit to educate themselves before signing on the dotted line. While some companies involved in subprime lending have a reputation of following through with their promise to help at-risk borrowers, others prey upon the borrower's past, causing more trouble...

Does Credit Card Debt Go Away After 7 Years?

Some credit-card debts are removed from consumers' credit files after seven years. However, that doesn't mean the debt itself goes away. Unpaid credit-card balances are still collectible even after they have been removed from consumer credit reports. As a result, some debts people have forgotten can turn up for collection at a debt-collection company. Debt Settlements Credit-card debt is not truly erased unless it's paid off or discharged...

How to Report a Skip Tracer

The business of skip tracing has been made easier in recent years as computerized databases have become comprehensive storage repositories for data of every type. It has also made skip tracers responsible for ever-increasing quotas of productivity. This sometimes tempts them to use illegal shortcuts. The federal Fair Debt Collection Practices Act (FDCPA), as well as various state regulations, are intended to eliminate harassment, threats and false...

Wednesday, October 29, 2003

What Is a Stand-by Letter of Credit?

According to the site Credit Management World, a stand-by letter of credit is a written obligation from a bank to pay a sum of money to a beneficiary on behalf of the bank's customer in the event that the customer does not pay. Bank Guarantee A stand-by letter of credit can help facilitate a transaction by providing comfort to the beneficiary.The stand-by letter acts as a guarantee from the bank that the beneficiary will be paid for his goods or services. A Solid Agreement The stand-by letter obligates the bank to make payment, even...

How to Use a Simple Interest Calculator to find Your Payment Amount

Knowing how to calculate your interest rate can help you to make a better informed decision when purchasing a big-ticket item. Many websites that offer online applications for loans also offer a payment calculator to help you better understand your options. There are also some free software programs on the web that you can download for your computer. If you know how to use these calculators, you will be able to get a good idea of what your payment...

Tuesday, October 28, 2003

Will Credit History Follow a Consumer From the US to Canada?

A person's credit history includes factors such as credit cards, debt levels, collection accounts and bankruptcies. The three major U.S. credit bureaus, Experian, TransUnion and Equifax, record this information on documents known as credit reports. Additionally, the bureaus use credit report data to determine a person's credit score, which is a numerical value of a person's creditworthiness. An individual moving from the U.S. to Canada should consider the impact on his credit history. Background Although Canada has a similar system of credit...

Monday, October 27, 2003

Negative Effects of Bad Credit on Employment

Bad credit can have a variety of negative effects on your life. It can prevent you from obtaining future mortgages, credit cards and auto loans. It can also hinder your ability to rent an apartment. In some cases, bad credit can also have negative effects on your ability to secure and maintain employment. Employment Denial After you interview for a job, an employer may require you to consent to review of your credit report as a condition of a job offer. If you provide consent, your prospective employer may obtain and review your credit...

Debt Acknowledgement Agreement

A debt acknowledgment agreement is an agreement by someone that they indeed owe a debt. It can include a confirmation of the amount and a promise to pay the debt. A debt acknowledgment agreement can be separate from the loan documentation or promissory note. Types Many financial forms are considered debt acknowledgment agreements. Debt acknowledgment agreements are a standard requirement for real estate mortgages. Signing a debt acknowledgment...

Sunday, October 26, 2003

How to Speed Up the Loan Modification Process

The recent national housing crisis and resulting recession caused many homeowners to declare bankruptcy or end up in the foreclosure process. In response to the foreclosure crisis, Congress enacted a home loan modification program to help homeowners stave off foreclosure. Although banks can offer their own private modification programs to homeowners struggling to pay their mortgage, banks can use their own internal guidelines. Banks are not required to expedite the modification process. However, homeowners who apply for the federal Making Home...

I'm Trying to Establish Credit

Establishing credit is one of the first tasks young adults face upon completing high school or undergraduate studies. A strong credit history will make obtaining loans for major purchases such as a car or a house easier. It also will enable you to qualify for an apartment without a cosigner and will reduce your insurance rates. Open a Bank Account Although your bank account information is not included in credit reports, credit agencies often...

Saturday, October 25, 2003

Statute of Limitations on Credit Card Debt in Illinois

For every possible case that comes into the court houses of Illinois, there is a statute of limitations established. This prevents the overburdening of the court system with cases that would have otherwise been forgotten. Plaintiffs have limitations on how long to file a lawsuit, and credit card companies are no exception. Function The purpose of a statute of limitations is to prevent lawsuits from occurring years after the debt accrued....

How to Evaluate and Raise Your Credit Score

When you want to get a loan, you might become curious about what your credit score and credit history are. These credit markers will determine whether you will qualify for a loan and what interest rates you will pay. But the time to worry about your credit score is before you need a loan. You can improve your financial outlook by understanding what your credit score is and how to improve it. Instructions 1 Get your credit report and score....

Is the Bank Obligated to Refund Stolen Money From My Debit Card?

Debit cards offer consumers the convenience of paying for items immediately without having to carry cash. However, if thieves get a consumer's debit card number, they can wreak havoc with a customer's finances by draining his bank account through fraudulent purchases. In most cases, banks must refund the money as long as the customer follows fraud reporting procedures. Risk When Using Debit Cards When using a debit card, the money is automatically...

Friday, October 24, 2003

Can a Collections Company Garnish Wages in Pennsylvania?

If you owe someone money, he may resort to employing a collections company in an attempt to collect the debt. The creditor may also eventually file a lawsuit against you for the money owed. Once a judgment is entered against you by a court, many states allow the garnishment of your wages. Pennsylvania, however, only allows wage garnishment in a few limited circumstances. What is Garnishment? Garnishment is a legal tool used by a creditor to satisfy a debt owed by you. Garnishment applies to both bank accounts and wages when applicable....

Thursday, October 23, 2003

How to Stop Judgment Collections

When a creditor tries to pursue you to satisfy a debt, one of the creditor's options is to file a civil lawsuit against you. At this point, the creditor can take you to court and get a judgment against you. Once a judgment is issued by the court, the creditor can use several options to try to collect the debt from you. When you are faced with this situation, you can try a few different things to stop the collection actions. Instructions 1 Appeal the judgment with the court system. If you have a legitimate reason to appeal the debt, such...

Wednesday, October 22, 2003

What Is Revolving Debt?

Revolving debt occurs when a consumer borrows money and is required to pay back only a certain percentage of the balance owed each month. Revolving debt differs from non-revolving debt such as mortgages and car loans, where the borrower pays a predetermined amount each month for a specific time period until the obligation is paid in full. Revolving debt offers advantages to the consumer, but also includes some pitfalls. Features Revolving...

Tuesday, October 21, 2003

How Do Medical Bills Effect Your Credit?

Medical Debt and Credit Impact First, the good news: Medical debt may not have much of an effect on credit scores. Because it's often not factored into the utilization ratio that composes a FICO credit score, that number doesn't change. However, this isn't the case if the bill is presented to a collection agency. The collection agency purchases the debt for pennies on the dollar, then profits from obtaining payment on the past due amount. If...

How to Block Your Social Security Number

You may want to block your Social Security number to prevent unauthorized people from accessing information that's confidential or tied to your number. The popularity of this service is on the rise due to identity theft and other risks. Blocking your number may be helpful, along with freezing your credit report to prevent unwanted information requests and other fraudulent activity. Instructions 1 Log on to the Social Security Administration's...

What Are ACH Payments?

ACH, or Automatic Clearing House, is a network that is accessed millions of times throughout the day without our being aware. You may see the term when making payments, but you may still not know what really goes on behind the scenes. The Facts ACH is a national clearing house network for batch processing electronic fund transfers. ACH payments include direct deposit of payroll, tax payments and refunds, e-checks and many other processes...

Sunday, October 19, 2003

How to Write Off Debt

When credit card companies write off debt, they report uncollected monies to the IRS as lost income. Most credit card companies turn over delinquent accounts to collection agencies after 6 months of non-payment. Writing off your debt by not making regular payments should be considered a last resort, as your credit report will be affected negatively. Settling with the credit card company can help preserve your credit score and allow you to repay some or all of the debt. Instructions 1 Keep in mind the pros and cons when considering writing...

How to Make an Offer to a Debt Collector

A debt collector's goal is always to collect the full amount of a debt. However, collectors realize that is not always possible and are usually willing to negotiate. Just as a debt collector wants to collect as much as possible, a debtor should seek to pay as little as possible. By the time a debt collector takes on a debt, damage is already done to the debtor's credit report because of late payments, and other notations on credit reports such as charge-offs and collection accounts. Paying the debt in full usually won't erase the damage, and that's...

Reasons for Requesting Debt Forgiveness

Debt forgiveness is when you convince a creditor to take less money than you owe them as full payment for the loan. Exactly how much will vary from situation to situation. Common options include a percentage of the balance, all the money you've paid so far and even no money at all. When considering whether or not to ask for debt forgiveness, consider the following pros. Help Your Bottom Line The math on debt forgiveness is basic. If you owe a total of $50,000 to various creditors and get one to forgive a $7,000 debt, then your total debt...

How Much Can You Spend on a Debit Card at a Time?

Debit cards allow you to purchase items and access funds without having to go to the bank. You can withdraw funds from most ATMs using a debit card, although your bank may charge you a withdrawal fee. You can also use your debit card at the cash register of most stores to purchase items. Some banks limit how much money you can withdraw or spend in a day using your debit card. Set by Banks Bank rules vary as to how much money you can spend at a time using a debit card. When you sign up for your card, ask your bank representative to go over...

How to Build a Debt-Free Life

Building a debt-free life has numerous advantages. People with fewer debts may enjoy more disposable income to build their personal savings. The less debt a consumer carries, the higher his FICO credit score. Excessive debt doesn't mean you're enslaved to a life of paying creditors. Specific techniques can help eliminate debt. Instructions 1 Buy with cash. Don't cancel credit cards, but pretend you don't own one, and use cash to avoid accumulating extra credit card debt. The less you spend with credit, the quicker you can eliminate balances...

Saturday, October 18, 2003

Loans & Bad Credit History

In the United States, the three major credit bureaus -- Transunion, Equifax and Experian -- keep track of your financial history by serving as a reporting medium between government agencies, companies, credit unions and banks to whom you can or do owe money. They give a uniform report of your credit worthiness with a numerical credit score. When you fail to meet your financial obligations, this damages your credit score and makes it more difficult to get loans. Causes of Bad Credit Your existing loans can be a contributing factor to your...

Can a Power of Attorney Open Credit in My Name?

If you grant someone power of attorney, that person, called your agent or attorney-in-fact, can legally act on your behalf. The only limit on the kinds of things your agent is allowed to do is up to you and the laws of your state. If you want to allow your agent to be able to open credit in your name, you can. Talk to a lawyer for legal advice about using powers of attorney and what powers to grant your agent. Agent's Powers When you grant...

How to Build Credit After Declaring Bankruptcy

Declaring bankruptcy is one of the most damaging things you can do to your credit score. According to Consumer Credit Counseling Services of St. Louis, a bankruptcy can lower your credit score by 100 points or more. Plus, bankruptcy remains on your credit report for up to 10 years for all potential creditors to see. However, all is not lost. You can begin immediately rebuilding credit after a bankruptcy by responsibly using the credit you have and...

How to Get a Note From a Collection Agency for Removal From a Credit Report

A collection on your credit report can negatively impact your borrowing ability. Creditors who see the collection may be less inclined to approve your loan applications. Removing a collection from your credit report requires negotiation with the collection agency and the creditor. Since both parties are interested in getting paid, it is in their best interests to work with you, if possible. They may agree to remove the collection or state it as "Paid" in exchange for you satisfying the balance due. Instructions 1 Call the collection agency....

Will Requesting a Credit Line Increase Hurt My Credit Scores?

Requesting a credit line increase will prompt a review of your credit and could hurt your credit score. However, everyone's credit situation is different, and no one can say definitely if your score will be affected. Your score could drop by a few points or not at all. Most people apply for credit only a few times a year at most. Multiple applications for installment loans, credit cards and credit limit increases suggest that you are loading up on credit, and that could lower your score. Inquiries A credit inquiry is placed on your report...

Friday, October 17, 2003

What Tends to Aggravate Debt?

Many people who own credit cards can attest to the fact that it is easy to become burdened with debt. People might make purchases without much thought to the eventual financial consequences, because the full amount does not need to be paid at the end of the month. In some cases, certain actions can make the debt problem even worse. Paying Only the Minimum You may have noticed on your monthly credit card statement that the minimum amount is...

Thursday, October 16, 2003

How to Contact a Collection Agency to Pay a Bad Debt

Paying a collection account has little financial benefit for consumers since satisfying the debt does not positively impact their credit scores. Certain lenders, such as mortgage companies, often require consumers to pay off outstanding debts before doing business with them. Some consumers pay collection accounts not because of a pending loan, but because of a moral obligation to satisfy their debts. Calling the collection agency and conducting payment negotiations over the phone my seem simple, but doesn't provide you with proof in the event the...

Can I Give a Copy of a Credit Report to a Customer?

If you deny credit to a customer, that customer has a right to a free copy of his credit report. This allows the customer to check his credit for errors or inaccuracies that negatively impact his credit, ensure that there has been no fraudulent activity related to credit and make arrangements to repair any problems. Customers can obtain their free credit report from you or from any of the three major credit bureaus (Experian, Equifax or TransUnion). Customer's Right If you denied credit to your customer, he has the right to request his...

Wednesday, October 15, 2003

How Do You Bring Your FICO Score Up?

Your FICO (Fair Isaac Corporation) score is the numerical culmination of various credit data culled from the three credit bureaus: Experian, Equifax and TransUnion. Along with your income, job history and how much you're requesting, lenders take into account your FICO score before lending you money. Your FICO score is determined by payment history (35 percent), amounts owed (30 percent), length of credit history (15 percent), new credit (10 percent) and types of credit used (10 percent). FICO scores range from 300 to 850. The higher the score (725...

Tuesday, October 14, 2003

How to Get Out of Debt Without Filing for Bankruptcy

Many Americans live outside of their means. Whether it's keeping up with your neighbors or something unexpected, numerous people have gone outside of their budget and have plunged deep into debt. To dig out requires a lot of hard work, but after you have done so without calling a debt consolidation firm or filing for bankruptcy, you will feel like the wealthiest person in the world. Instructions 1 Make a list of all debts you owe using the...