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..

Monday, August 30, 2004

Is There an Automatic Stay Protection for a Co-Debtor Under Chapter 7 Bankruptcy?

Two people filing jointly for Chapter 7 bankruptcy are entitled to equal protection under federal bankruptcy laws -- including the automatic stay. Married couples and individuals are eligible for Chapter 7; unmarried individuals cannot file jointly. The automatic stay is a major reason why some couples file for bankruptcy. The stay is a legal injunction signed by a judge and is granted to everyone filing for bankruptcy. The stay immediately halts lawsuits and all debt collection, including bank and wage garnishment. Short Wait People filing...

Sunday, August 29, 2004

How Much Money Can Be Garnished From My Wages?

If you fail to pay a debt, a creditor or debt collector has the right to sue you in court. If the creditor wins, a judgment will be entered against you. According to the U.S. Department of Labor (DOL), that judgment allows the creditor to obtain a wage garnishment against you, order your employer to turn over part of your wages every pay period until the debt is paid or get your bank to pay funds from your account. Because you still need to eat and...

What Happens If I Don't Comply With a Garnishment?

When a debtor fails to pay a credit on time, the creditor may undertake a number of different actions with the intention of receiving payment on the outstanding debt. One collection action a creditor can take is wage garnishment. After receiving a legal judgment for the money owed, the creditor can petition the judge to allow him to confiscate a portion of the employee's wage directly from his employer. Employers are required to comply with a garnishment order or face severe legal penalties. Legal Garnishments An employer is legally obligated...

Saturday, August 28, 2004

Nonprofit Debt Relief Organizations

Nonprofit debt relief organizations, or credit counseling services, work with consumers and their creditors to develop affordable debt repayment programs based on monthly income and expenses. Fees for services may be based on a sliding scale or consumers' ability to pay. Nonprofit debt relief organizations cannot typically reduce debt amounts, but they may negotiate waivers or reductions of fees and finance charges. Scams to Avoid Do not accept unsolicited offers of debt help, and do not pay for services in advance. Avoid any organization...

How to Calculate Effective Interest

When you are presented with an annual interest rate for a loan that is going to be paid off in multiple years, that rate is not the true interest rate you will pay on the loan. It is only the annual rate. To find out how much interest you will pay during the life of the loan, you need to multiply your loan by the effective interest rate. Instructions 1 Write down the critical information for your loan on a sheet of paper so you have them to refer to when doing the calculation. This includes the annual interest rate that you agreed to when...

Friday, August 27, 2004

Can a Creditor Go After My Spouse in Pennsylvania?

If you fall behind on a debt payment, you can expect your creditor to send you letters and make phone calls to try to recover your past-due amounts. If your debt becomes severely delinquent--usually six months or more--the creditor may also sue you, which gives the creditor the right to pursue garnishment of your bank balances and liquidation of personal property. You may wonder if a creditor can go after your spouse as well. In Pennsylvania, a creditor typically cannot pursue your spouse. Individual Property Pennsylvania is not a community...

Ways to Settle Credit Card Debt

Consumers have a number of ways to settle credit card debt. During economic downturns, banks tend to be open to accepting settlements at a significant discount to balances owed. However, such settlements come with long-term consequences, so carefully consider all options before entering into any agreement. Credit scores will negatively reflect these arrangements for seven years and you may owe taxes on the amount of forgiven debt. Always consult...

Thursday, August 26, 2004

How to Get a Credit Card Company to Waive Finance Fees

A financing charge is simply any fee that you pay to a credit card company or business for the privilege of borrowing money and paying it back later. Finance charges can be quite steep, since credit cards with rates as high as 20 percent begin applying finance charges to your account from the day that you begin carrying a balance. Fortunately, if you are a good customer or if you are with a debt management plan, you can get the company to waive some...

Wednesday, August 25, 2004

Do Credit Cards Offer Low Settlements to Avoid Bankruptcy?

If a borrower owes a large amount of money on a credit card, rather than pay the full amount, he may attempt to reach a settlement with the company to pay less than the amount he owes. While it may appear counterintuitive for a lender to agree to accept less than full payment on a debt, some credit card companies agree to settlements out of a fear that the debtor will go bankrupt. Settlements According to the New York Times, credit card companies typically only offer settlements to people who have already defaulted or who are at imminent...

Tuesday, August 24, 2004

Ohio Law on How to Do a Bank Garnishment

When the person losing a civil or small claims suit does not pay the judgment to the wining party, a garnishment can be filed against the losing party's earnings and bank accounts. In Ohio, the requirements for garnishing a bank account vary by municipal court where the request for garnishment will be filed. However, the general procedures are the same. Instructions 1 Contact the clerk's office at the municipal court where you will be filing. Request the forms to file for a garnishment against a bank account. Get instructions about the number...

TransUnion Information

TransUnion is one of the three major credit-reporting agencies. Along with Experian and Equifax, TransUnion provides information and credit management to consumers. Its work with business clients involves managing risk, reducing costs and increasing revenue through delivery of data and analysis. The Company TransUnion's headquarters is in Chicago. Begun in 1968, the company today has a presence in five continents and 25 countries. The employee base is greater than 3,100. Company Firsts TransUnion replaced manual data entry with the...

Credit Counseling & How it Affects Your Credit

Credit counseling agencies can advise people on how to manage their debts, or they can go a step further and help them create debt management plans. Simply getting advice from one of these agencies will not hurt your credit and may help you pay down debt. Entering a debt management plan can damage your credit because the agencies negotiate for lower fees and interest rates. Credit Counseling Reputable credit counselors begin by offering a...

Monday, August 23, 2004

About Debt Forgiveness, Reduction, or Deferral

In tough economic times or during temporary financial hardship, it can be difficult to meet every financial obligation. However, not paying your debts can have severe negative effects on your credit rating and can hamper your ability to qualify for additional credit in the future. Debt forgiveness, reductions and deferrals are ways that your bank or lending institution may be willing to work with you when it comes to helping you meet your debt obligations without suffering undue financial hardship. Debt Forgiveness When a debt is "forgiven"...

The Responsibility of Debt in Separation

When a marriage comes to an end, things can get quite complicated. If you own assets as a couple, hold debt together or have children, divorce is even more difficult. Sometimes circumstances dictate a formal separation before you're ready to get a divorce. Marriage laws vary from one state to another. Some states may not even have a legal separation status or process and whether you can become legally separated or not may not matter completely to debt collection agencies. Remove Your Name If your name is on a rental agreement or lease,...

How to Get a Charge-off Removed From Your Credit Report

If only the collection bureaus would realize how much more money they would make if they would simply agree to remove the items from the report, upon full payment! Instructions 1 Look for phone numbers for the companies reporting the charge-offs. Write them down, along with the name and account number listed on each credit report. (may be different on each report) 2 Once you have them listed, call each company, and pleasantly let them...

Saturday, August 21, 2004

How to Become Debt Free

The average American family has about $15,000 in credit card debt, in addition to car payments and possibly a mortgage. At the average rate of 14.9 percent for credit card debt, that $15,000 racks up over $2,200 in interest expenses every year, if it's not paid off. Making only minimum payments means it can time more than nine years to pay off those balances. You can work hard to eliminate your debt by either paying the debts off or through settling...

Rapid Debt Reduction Strategies

Feeling overwhelmed with your monthly debt is not uncommon. You can, however, manage your debt and find relief. It may take some time, but it will be worth it when you see more of your paycheck in the bank and less going out to creditors. Confront Your Debt The first step in reducing your debt is confronting all those bills. Gather all of your bills and list them on a spreadsheet with the balance, interest rate, and minimum payment...

Online Debt Consolidation Programs

The chaos of life often pushes people to make decisions with their finances that have long-term repercussions. Over time, one late payment can turn into a collage of debt collectors calling and harassing you. There are debt solutions, however, that allow you to put a stop to the annoying phone calls and bring all your debt into one manageable location. The right online debt consolidation program allows you to make one payment instead of several payments; it also reduces your mounting debt. Online Debt Consolidation Solution Online Debt...

Friday, August 20, 2004

How to Pay Off Loans Quickly

Whether your loan is a mortgage, student loan, car loan or personal loan, freeing yourself from debt can be liberating. It's especially important to pay off high interest loans quickly, the only caveat is if there are steep penalties for early repayment, as is the case with some mortgages. If you put your mind to it and make some lifestyle changes, you can pay off loans quickly, leaving you with more money to spend on the things that really matter....

When You Consolidate Your Bills Does It Go on a Credit Report?

Consolidating bills through a loan involves transferring debt from one source to another. Consolidation plans also may include using a debt consolidation company to negotiate with creditors. Either method is designed to result in fewer payments, lower interest rates and a reduction in overall debt. How bill consolidation affects your credit report depends on the consolidation method used and the type of credit involved. Credit Scoring Facts The Fair Isaac Corporation (FICO) uses a range of financial information to calculate your credit...

Thursday, August 19, 2004

What to Know to Protect Yourself and Your Credit Report

If you carry accounts with creditors that report your debts to the credit bureaus, you have a credit report. Your credit report serves as record of your financial history for lenders and other financial institutions. The information within your report determines your credit score -- the higher your score, the less risk you present to lenders and the more money you will save in interest on loans and credit cards. It is crucial that all consumers take steps to protect themselves from misinformation on their credit reports that could ultimately damage...

Wednesday, August 18, 2004

How to Make a Bank of America Credit Card Payment Online

Making online payments to your Bank of America credit card is easy. You can make payments using your checking or money market account. You can open a Bank of America online banking account in just minutes and start making payments instantly. Instructions 1 Open a Bank of America online account if you do not already have one. Skip this step if you already have an online account. To open a new account, you will need your credit card number,...

Government Grants to Help Get Money for Bills

Americans are struggling under the weight of a sagging economy. According to United Way, nearly one-third of working citizens do not earn enough money to take care of basic needs for their families, and 12 percent of the U.S. population lives below the poverty level---even while toiling at two and sometimes three jobs. Help is available in the form of grants that could make incomes go further by helping cover utility bills, mortgages and car payments. Finding Grants Online Govbenefits.gov will help you find personal grants to help with...

DIY Debt Settlement & Credit Repair Letters

As a consumer, you know your credit situation better than anyone else. Repairing your credit by writing debt settlement letters and credit repair letters is best handled by you. You have the ability to advocate for yourself, come to a settlement that you know you can commit to, and only you know what information on your credit report is incorrect. With a few steps, you can be well on your way to improving your credit, but remember, you may have to...

Tuesday, August 17, 2004

After How Many Years Is Negative Credit Information Removed From a Credit Report?

A person's credit score is computed by credit reporting agencies using information that the agencies have collected and place in the individual's credit report. This credit report contains as much information as the agencies can gather about a person's lending history, including the amount and disposition of loans. However, there are time limits for how long information can remain in this report. Most positive information can stay for up to 10 years, while most negative information must be removed after seven. Negative Information Negative...

Monday, August 16, 2004

How to Dispute ChexSystems on a Credit Report

ChexSystems is composed of a group of banks that supply each other with information relating to its accounts holders, such as how often a customer's account has nonsufficient funds, as well as whether a bank account was closed involuntarily. There are instances where errors are made regarding accounts and this is when a dispute is required to erase an item from ChexSystems, as well as your credit report. Instructions 1 Request a copy of your...

Sunday, August 15, 2004

How to Freeze Cards with Credit Cryogenics

Stormy financial forecasts call for creative contingency plans. Taking precaution requires much-more extreme measures than stashing your hard-earned cash under the mattress. Consider this time around credit cryogenics, the act of freezing one's debt-liest credit card(s) in your friendly Frigidaire. Instructions 1 Face Your Credit-Card Debt Demons. Spread out on a clear workspace your most recent credit-card statements. Note and highlight...

How do I Work on Getting Out of Credit Card Debt?

Credit cards can be a useful financial tool that allow you to defer payment for purchases. However, some people allow their credit card purchases to get out of control and end up owing far more than they can actually pay back. These people must carefully evaluate their current position and determine a way to get out of credit card debt. The steps for getting out of credit card debt are basic if you consistently follow them. Instructions 1 ...

Saturday, August 14, 2004

Credit Rating Agency Rules

Credit rating companies are required to follow government regulations to safeguard consumers' credit histories. Among other things, they must provide credit reports to consumers upon request and maintain accurate credit files. However, it's up to consumers to monitor their credit reports to ensure their credit histories are accurately represented by rating agencies. Credit Reports Consumers have the right to know what's in their credit reports. The U.S. Fair Credit Reporting Act allows consumers to request one free credit report each year...

How Does a Debt Consolidation Affect Credit Rating?

What Debt Consolidation Is Debt consolidation normally come in two flavors: a debt consolidation loan and a debt management firm. Both of these solutions will lump a consumer's debt into one neatly wrapped, and often lower, monthly payment. However, deciding between the two can have an impact on your credit report and credit rating---both in the short and long terms. So before choosing a debt consolidation method it's best to know what you are getting into. Debt Consolidation Loan Debt consolidation loans can either be in the form...

How to Get Your Student Loan Reduced

The economic recession that began in 2007 resulted in large numbers of unemployed workers. As reported by the Bureau of Labor Statistics within the U.S. Department of Labor in June of 2011, there were over 14.1 million unemployed Americans -- equivalent to a 9.2 percent unemployment rate of the nation's total workforce. To help students, graduates and their parents during times of financial difficulty, the U.S. Department of Education allows qualified individuals a way to apply for loan reductions, loan forgiveness and loan forbearance. Instructions...

Professional Credit Repair & Restoration

There is no quick fix when it comes to repairing your credit. However, with the right professional help, you can gain a better understanding of your situation, what appears on your credit report and specific things you can do to reduce debt and improve your credit score. The best credit repair companies emphasize credit education to teach you how to avoid problems in the future. Finding a Reputable Professional Credit Repair Company The credit...

Friday, August 13, 2004

USCG Credit Card Regulations

The Pentagon Federal Credit Union offers specialty cards to members of the armed forces including the United States Coast Guard. The USCG is the only branch of the military that is part of the Department of Homeland Security. During peacetime, the Coast Guard protects the country's shores and enforces maritime law. If the U.S. is at war, the Navy directs the Coast Guard. PenFed operates out of Virginia and is subject to credit card laws issued by the state of Virginia and the federal government. Eligibility You are eligible to apply for...

How to Write an Insolvent Letter to Debt Collectors

People often die while in debt. Death does not automatically eliminate the balances a deceased person has accrued. Creditors and debt collectors frequently approach those associated with the deceased's estate for payment. Those associated with the estate do not necessarily have to pay these balances, depending on their relationship with the deceased and whether the debts are joint debts. If a collector tries to collect from an estate that doesn't...

The Effects of Paying a Bill a Day Late on Your Credit Report

Your credit report provides creditors with a glimpse into how you handle debt and manage your finances. While a spotless report is not possible for everyone, doing what you can to keep negative marks off of your report represents a key aspect of building a positive credit report. Credit Reporting Basics The Fair Credit Reporting Act sets the standard for the information credit reporting agencies can report when it comes to consumer histories. Allowable information includes details about your credit history, employment history and identifiable...

Wednesday, August 11, 2004

How to Calculate Annual Debt Obligations

American households that have at least one credit card have an average credit card debt of $10,700. Many people have additional debts on top of this, such as student loans, house payments and car payments. Debt can be overwhelming, especially if it feels out of control. However, with proper planning and close attention to your overall financial situation, you can manage your debt wisely, pay it down and gain control of your financial life. Instructions...