Help for Fathers Who Owe Back Child Support in Indiana

Child support in Indiana is based on how much money you make, the amount of money your ex earns, the number of children you have and the amount of custody you have. When you are in default of your child support payments and unable to make good on the money you owe, look for organizations that help fathers meet their financial obligations to their children. Fathers Organizations Help lines are set up through child support organizations to assist fathers who have defaulted on payments. For instance, Child Support Help offers information on...

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Non-Profit Debt Forgiveness Tax Consequences

Choosing to use your education and skills to serve in impoverished areas of the country or with a non-profit organization can bring many intangible benefits as well as eligibility for student loan forgiveness. Participation in government loan forgiveness programs can alleviate the tax liability you might otherwise incur for having debt forgiven. As of 2011, under normal circumstances, you must claim any forgiven debt over $600 as taxable income on your federal return. Medical Service Jobs As a doctor or registered nurse you can dedicate...

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Tips on Interest Rates

Interest rates indicate the cost of borrowing money. When you borrow, lenders charge interest on lent funds because they forgo the opportunity to invest the money and risk the possibility that you will not pay the debt. Interest can be very expensive, especially if a lender perceives you as a risky borrower. Avoiding and reducing the interest you owe on debts is one of the keys to building wealth. Credit Card Interest Credit card debt usually carries high interest rates which can make it difficult to pay back if you accrue a large balance....

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How to Dispute a Credit Card Department Letter

A letter from your credit card company is usually an attempt to collect a debt. Your account may be seriously delinquent, and your card company may be on the verge of closing the account, listing it as charged off and selling it to a collections agency. If you want to dispute that you owe the debt you'll have to wait until it has been charged off. Under the terms of The Fair Debt Collections Practices Act the debt is considered valid -- meaning...

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If You Can't Pay Your Medical Bills

Illness is often unexpected and when it strikes, it can leave you with expensive medical bills. If you are uninsured or are experiencing financial difficulties, you could find yourself in a situation where you are unable to pay them in addition to your other responsibilities. While ignoring medical bills is not an option, there are ways to properly handle your inability to pay. Make Contact Put some money toward the amount that you owe. This...

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How Long Does it Take for Your Credit to Clear After Debts Owed?

Accumulating debt can have deep negative implications to your credit report. Having too much debt can lower your credit score. If you have outstanding debts on which you are behind, you can expect that information to stay on your report for up to seven years, according to the Fair Credit Reporting Act. Seven Years The Fair Credit Reporting Act outlines how long negative items on your credit report can be kept -- and therefore used against...

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What to Say to Credit Card Companies to Get Your Interest Rate Reduced

Consumers with high credit card balances and interest rates certainly pay a significant amount of monthly interest. However, they can save hundreds or thousands of dollars by requesting an interest rate reduction, according to Bankrate financial columnist Lucy Lazarony. More money is applied to the principal if the rate gets lowered. Lazarony explains that it helps to know what to say when asking credit card companies for a reduction. Preparation BCS Alliance recommends writing a script for each credit card account, customizing them with...

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Should I Marry a Girl with Credit Card Debt?

Marrying someone with credit card debt is a decision that should be taken seriously. You Can Keep Your Finances Separate When you get married, your credit remains your own. Provided that you do not have your name put on any of her credit cards or previous loans, you will be able to maintain a high credit score throughout your marriage. The key is to keep your finances separate until she is able to pay back her credit card debt....

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Three Ways to Face an Uncollected Debt

Benjamin Franklin said, "Creditors have better memories than debtors." The saying may be true, but debtors don't necessarily forget their debts. A well-intentioned debtor may have a cash flow problem that prevents him from repaying a debt. Faced with limited cash flow, individuals must prioritize the bills they pay until their financial situation improves. When circumstances change and you are ready to face your uncollected debt, there are several ways to go about it. Acknowledge the Debt A creditor has a set amount of time to collect an...

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How to Negotiate With a Banker

With much hard work and planning, the purchase of a new car, home or business can be close to becoming a fulfilled dream but, in many cases the time for the need may come before all of the funding has been obtained. In these situations, it becomes necessary to seek a loan to help make up the difference. When seeking a loan from a banker, it isn't the banker trying to sell you money. Rather, it is you trying to sell the banker on why he should loan...

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Are Consolidated Credit Counseling Services Legitimate?

With so many people in debt, credit counselors and debt relief agencies are popping up all over the place. Each of these groups states that they can help get you out of debt, but it's hard to know who to believe. One major player in the debt relief community is Consolidated Credit Counseling Service, who offers credit counseling to anyone who feels they need it. Credit Counseling Basics When you place a call to a credit counseling agency, the agency reviews your financial situation with you, including the types of cards you have and the...

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Laws on Judgments in South Carolina

Judgments are legal rulings that provide for monetary relief to the judgment creditor. Judgment laws, exemptions and time limitations vary by state. Laws in South Carolina state that judgments are automatic liens on real property that does not fall under the exemption category. Judgment creditors have several legal avenues available to them for judgment debt recovery. Time Frame Judgments in South Carolina have a 10-year window of enforcement. Individuals who own real property and have a judgment issued against them must pay off the judgment...

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How to Find out If I Owe a GTE Telephone Bill

If you had an unpaid telephone bill with GTE in June 2000, when Bell Atlantic and GTE merged together to form Verizon Communications, there are ways to find out if your bill was transferred to Verizon. Before the merger, GTE was considered to be the largest independent phone company in America. Instructions Through Verizon 1 Contact Verizon's collections department. Check on Verizon.com for the billing department number that corresponds to the region of the country that your GTE phone service was in. 2 Advise the Verizon representative...

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How to Fix Bad Credit for Buying a Home

If you have bad credit, buying a home is a dream that can turn into a nightmare. If your credit is in bad shape, your request for loans may be turned down. Moreover, if you do manage to get one, it may be at very high interest rates. The good news is that bad credit can be fixed over time by putting the time and effort into repairing your credit. Then, you can get approval for a mortgage you can afford. Instructions Repair Old Credit 1 Start by analyzing your credit report. You will need to assess your current credit situation to identify...

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How Do Credit Card Companies Determine the Interest Rate Charged?

The interest rate on your credit card is the percentage of your balance the issuer charges you each billing cycle. Your credit card costs you more over time and usually takes longer to pay off if you have a high interest rate. A combination of factors, including payment and credit history, determines the interest rate you are charged. Creditworthiness Your creditworthiness is a significant factor in the interest rate you are charged on your credit card. Your credit score, a number assigned to you based on your credit history as reported...

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Am I Responsible for My Husbands Judgment If He Is a Sole Proprietor?

A sole proprietorship is the easiest form of business to create and it also carries the most risk. You could end up owing quite a bit of money in connection with your husband's business debts if his business is a sole proprietorship. Keeping your finances strictly separate is the best method of protecting your accounts from a creditor's judgment in connection with your husband's sole proprietorship. No Liability Protection A sole proprietorship offers no liability protection for a business owner's personal assets when a creditor is pursuing...

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Debt Consolidation Vs. Chapter 13 Bankruptcy

If you're in debt, you have a number of options to help you deal with your finances. Debt consolidation and Chapter 13 bankruptcy represent two different approaches to getting out of debt. While either choice can potentially help you resolve your debt, each has advantages and disadvantages that you should understand before determining which choice offers the best solution. Function Chapter 13 bankruptcy allows debtors to reorganize their debts and repay them over time from future income. Chapter 13 can help you catch up if you've fallen...

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How to Pay Off $100,000 in Loans

A large debt may seem impossible to pay off when you look at the total debt next to your monthly income. Paying off your $100,000 in loans, however, is within reach when you carefully monitor your expenses and strategically pay the debt each month. Do not let the debt overwhelm you; take a breath, lay the paperwork out in front of you and create a plan for getting out of the red. Instructions 1 Prioritize your $100,000 in loans on a sheet...

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Three Rules for Debt Management

Debt can be overwhelming and lead to financial ruin for many people. It can cause poor credit scores, bankruptcy and other financial problems that affect all aspects of someone's life. For this reason, proper debt management is key to financial survival. Not only can it ease the strain of insurmountable debt loads, but it can also result in better credit and access to larger purchases, such as a new home or car. Pay Bills Early Even if you pay your bills, you may be socked with excessive late charges and miscellaneous fees if you don't...

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Housing & Credit Counseling

Housing and credit counseling comes in many forms. For example, several nonprofit housing and credit-counseling agencies support borrowers who are already behind or about to fall behind on their debts. In addition, the federal government provides counseling by encouraging mortgage lenders to modify loans. Success begins with facing your problems head-on and developing a plan of attack. Don't wait, and don't hide. Start now. Best Counseling Resource...

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How Can I Cosolidate All My Debts?

Consolidating your debts is a method of combining outstanding accounts such as credit cards and loans into one payment. This way of dealing with debt can simplify your monthly accounting and loan payment. In addition, if you're able to secure a lower interest rate on the consolidation, you can pay down your principal quicker. There are various ways to consolidate your debts. Explore your options and pick the one that works for you. Instructions 1 Use money from your home's equity. Go to a home loan lender and complete an application for...

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Estate Lien Laws in Mississippi

Liens are claims that creditors can make against personal property for debts that have not been paid. Because these liens are legal documents focused on the property itself and not a particular debtor, they are considered part of estate debt and can continue on even after an owner dies. Many liens are filed by contractors that did work on a property and were not paid, known as mechanics liens, while other liens may be created by banks and even the government. Each state, including Mississippi, has its own lien laws. Contract and Subcontract...

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Road to Debt Freedom

Living without the burden of consumer debt equals freedom of choice. If you're willing to make a serious commitment, there are several free or low-cost methods that are easy to use. If you're looking for instant gratification, you've come to the wrong place; if not, then know that the rewards of living a debt-free existence are subtle, but worth the effort. The keys to success? Don't incur new debt, and live cheaply. The Power of the Telephone...

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How to Consolidate Debt With Bad Credit

You're up to your eyeballs in debt and your credit is shot. The layoff you experienced a few months ago has taken a toll. You've been searching diligently for work, but in this poor job market, it hasn't been easy. Stop! Before you consider filing for Chapter 7 bankruptcy or enrolling in a bogus debt management plan, consider these alternatives. Seize control of your credit again! With a little planning, patience and persistence, you will be back on top again. Instructions 1 Tell yourself that it can be done, and you will overcome your...

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A Guide to Eliminate Debt

Debt elimination can reduce monthly expenditures. Debt accumulation can result from overuse of credit cards or living beyond your means. If you're tired of making high monthly payments, consider ways to get rid of credit card debt or reduce your outstanding balances. Increase Income Additional income each month helps speed debt elimination. Check your finances, and if you don't have disposable income to pay down balances, look for part-time work temporarily to generate extra income. This can include working after your full-time job a few...

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When Must a Resident Be Informed of a Foreclosure?

If you are facing possible foreclosure on your home, take the time to become familiar with your state's foreclosure laws and time lines. Every state handles foreclosures differently, including notification steps and scheduling of the foreclosure auction. Foreclosure proceedings can be completed in as little as two months in Texas or can take as long as six months in Nebraska. Each state also regulates when a resident must be informed of a foreclosure,...

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Is My Spouse Liable for My Mortgage?

For most homeowners, a mortgage is their largest personal debt. The consequences of not paying a mortgage loan include foreclosure, credit damage and a possible lawsuit. Joint Contract Lenders determine mortgage liability by whose name is on the original loan contract. If you and your spouse applied for the loan together and the contract reflects both of your names, the mortgage is a joint contract and you are both equally liable. If, however,...

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What Is a Debt Agreement?

A debt agreement is a contractual arrangement in which one party, a creditor, agrees to work with another party, a debtor, who is unable to meet the previously stipulated obligations of a loan repayment. A debt agreement is sometimes referred to as a right of claim for money against a debtor. Debt arrangements can be either formal or informal. Debt Basics Debt is established by contractual arrangements, submissions into public records, judgments of debt by the court, issuance of bonds, and many types of consumer and business loan contracts...

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How Is Bad Credit Removed From My Credit Report?

Negative entries such as charge-offs and repossessions can remain on your credit report for up to seven years. A bankruptcy can remain for as long as 10 years. By law, the three major credit reporting bureaus--TransUnion, Experian and Equifax--must remove outdated negative information, according to the Fair Credit Reporting Act. However, federal law gives you the right to challenge any information on your credit reports, and that information must...

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Bill Paying - Tips for Getting Organized

Paying the monthly bills isn't something many people look forward to, but the task is made more difficult if you don't organize your bill-paying effort. Bills can get lost, current bills can get mixed up with older bills, and credit accounts can get behind if you're not organized. Develop a System When your bills come in the mail, the worst thing you can do is put them in mail piles all over the living room or the kitchen. Purchase two office baskets and designate one for bills that need to be paid in the current month and the other for...

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What Does 'In Loan Default' Mean?

Loans are governed under contract law. A borrower receives something of value from a lender -- like cash or an asset like a car -- and signs a contract agreeing to repay the lender under certain terms and conditions. This contract becomes a binding legal agreement between the parties. If one party fails to live up to the terms of that agreement, he is said to be "in default." Default Provisions Most loan agreements contain a section that outlines the consequences if one party fails to honor the terms of the contract. Although each loan...

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Does an IRS Tax Lien Show Up in a Credit Bureau Report?

Consumer credit bureaus rely, in part, on public records to determine credit scores. This information is regularly collected from state and county courts. Those courts hold a wealth of information, including state, federal and local tax liens, as well as judgments, foreclosures and bankruptcies. Tax Liens Tax liens give a lien holder a legal right to claim a person's property. The IRS only files liens after they give a debtor notice of a...

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How to Explain Charge Offs

A charge off often appears on a credit report after a person has been denied a loan or other form of credit. Some people get upset and angry because they don't understand what a charge off is or how it negatively affects credit. A correct explanation of charge off can help to defuse an already upsetting situation. Explaining a charge off doesn't have to be a complicated or confusing process if a few simple, necessary points are made. Instructions...

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Does It Hurt Your Credit to Cosign?

State laws govern the rights that creditors have against cosigners. In most states, as recognized by the Federal Trade Commission, lenders can immediately pursue collection efforts against cosigners without first attempting to collect their debts against primary debtors. As further noted by the Federal Trade Commission, a primary borrower's failure to pay his loan can hurt his credit record as well as his cosigner's credit record. Overview In most cases, cosigners are relatives of primary borrowers. Most often, a primary borrower's credit...

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When to Negotiate a Debt Settlement

Debt is an issue that many people face and a number of options exist for dealing with it. One option that many choose is debt settlement. Settling debts can provide you with a way to save money, but this option is not for everyone. Before settling your debt, a few factors must be considered. Debt Settlement Basics The basic idea behind debt settlement is that you agree to pay a creditor a lump sum of money. The creditor then agrees to close out your account for less than what you actually owed. Debt settlement can be pursued on an individual...

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Pennsylvania Credit Card Judgment Laws on Joint Banking Accounts

Pennsylvania law prevents creditors from garnishing your wages. However, the state does not protect your bank account if the credit card company wins a judgment against you. This also applies to wages directly deposited into your bank account. Even if you share the account with another person, a creditor may seize funds in your bank account. Credit Card Judgment For a credit card company to win a judgment against you, it must sue you and...

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