North Dakota Wage-Garnishment Laws

North Dakota laws permit creditors to garnish debtors' wages for unpaid debts. Garnishment is typically a court-ordered process where a court orders a debtor's employer (the garnishee) to withhold portions of the debtor's wages and pay that money to a creditor to help satisfy a debt. In some cases, however, garnishment can be done administratively, without a court order. In North Dakota, the four main types of entities that garnish wages are creditors, tax collectors, custodial parents in divorces and the Department of Education for delinquent...

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Can a Judgment Creditor Take a House?

When recovering delinquent payments, most creditors will send frequent collection letters and call debtors both at home or at work. Collection calls and letters serve as a reminder that you neglected to pay what you owe. The creditor's goal is to coerce you into paying your debt voluntarily -- thus preventing an expensive court battle. In the event you still do not pay off your delinquent balance, the creditor can move to seize your assets -- including...

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What Happens if I Don't Pay My Consumer Credit?

Although consumer credit can provide several important benefits, such as increased purchasing power and the ability to handle financial emergencies, credit is only beneficial if you handle it responsibly. Responsible credit management includes paying at least your minimum debt payments when they are due. If you fail to pay your consumer credit, several negative occurrences can result. Collection Activity Once your credit account reaches past-due...

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How to Easily Fix Your Credit Report

Its important to fix your credit report. Your report is accessed by lenders whenever you apply for credit. Ensure you check your credit report regularly. You can fix your credit report easily by checking for errors and looking for areas of the report where improvements can be made. Get your three credit reports (Experian, Equifax and TransUnion) from AnnualCreditReport.com. Its the official website sponsored by the credit reporting bureaus. Instructions...

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Credit Card Debt Counseling and Debt Reduction

Credit card-counseling and debt-reduction agencies assist consumers by offering to construct customized plans designed to reduce or totally eliminate unsecured debt. These agencies may also create a personalized monthly budget to help consumers control unnecessary spending and find ways to save money for emergencies or retirement. Credit Card Counseling Credit card-counseling agencies evaluate a consumer's total debt, interest rates and any...

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Debt Consolidation Risks

Debt consolidation can sound like the answer to your financial problems. Consolidating debt means bringing all of your high-interest credit card accounts under one low-interest loan. It lowers your interest debt, lowers your monthly payments and helps you free up extra cash each month. But there are debt consolidation risks that you need to consider before determining if consolidation is the right solution for you. Extra Fees A debt consolidation...

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When Is It Worth Refinancing Your Mortgage?

When deciding if it is worth refinancing your mortgage, you need to consider more than attractive interest rates. You should also consider the amount of closing costs involved (typically around 2 percent of the total loan amount) and whether the potential monthly savings will justify the costs of refinancing. Refinancing involves restructuring your current mortgage. If your credit is strong and you take the time to compare lenders, you could end...

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Statute of Limitations to Enforce a Debt in Texas

When a person takes out a debt, he is legally obligated to pay back the debt for the rest of his life. However, the debt is only legally enforceable -- meaning the creditor can only sue him for failure to pay it back -- for a finite period of time. The statute of limitations for a debt in Texas is four years for most types of debts, although certain factors can affect this. Debt Collection A debt collector can, technically, collect a debt for an indefinite period of time. However, to prevent a person from being hounded by creditors for...

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The Evaluation Principles for Credit Risk

Evaluating credit risk is important for banks or any other business that extends credit to its customers. While some risk is inherent in all types of borrowing, businesses have a vested interest in trying to minimize that risk to acceptable levels. When making credit decisions based on the appropriate level of risk, losses due to non-payment of the debt can be controlled, and the business can remain profitable. Judgment-Based Judgment-based credit risk evaluation is a non-automated system for making credit decisions. The judgment-based...

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Garnishments And Liens

Garnishments and liens are two post-judgment collection procedures that permit a plaintiff who has prevailed in his civil action against a defendant to obtain satisfaction for his judgment for monetary damages. Since a judgment for damages legally entitles the holder to collect the sum awarded, the judgment holder is frequently characterized as a judgment creditor and the defendant who has been found liable as the judgment debtor. Judgment Required Garnishments and liens are available only to individuals who have first obtained a judgment...

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Can Debt Collectors Attempt to Collect From the Workplace?

You're under enough stress when you're behind in paying your debts. The threat of a debt collector calling at all hours or working to embarrass you only adds to the stress. Debt collectors have one job: to collect money from you by any means possible. They can be ruthless in their methods. However, The Fair Debt Collection Practices Act protects consumers from overzealous debt collectors. The act covers such issues as whether a debt collector is...

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What Happens If Noncompliance in a Bankruptcy Agreement?

Adhering to the terms and conditions of a bankruptcy agreement is critical. Agreements typically forbid continued use of credit or require a minimum contribution to a court-ordered payment plan each month. Other terms are possible as well. Failing to comply with terms could result in dismissal of the bankruptcy suit and wasted money on bankruptcy filing fees and attorney costs. Ramifications Noncompliance and dismissal of a bankruptcy case remove important protection. Everyone in bankruptcy benefits from a legal injunction called the automatic...

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How to Find a Reputable Loan Modification Company

Finding a reputable loan modification company could require considerable time and research. The Federal Trade Commission recommends that you use extreme caution in dealing with loan modification companies because of widespread abuses. Working directly with your lender can result in a successful loan modification for free, or you can get free help from a nonprofit housing counselor certified by the U.S. Department of Housing and Urban Development. The housing counselor can provide all the services of a loan modification company, including convincing...

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If I Owe Money to a Private Credit Card & I Am on a Pension Can My Pension Funds Be Garnished?

People who take out of credit cards must sign a legal agreement that obligates them to pay back any money they draw against the line of credit within a certain amount of time. Like any other debt, this credit card contract is legally enforceable, and credit card companies may take a number of actions to secure payment of the debt. A person's pension may or may not be garnishable, depending on state law. Garnishment A garnishment can only be legally accomplished if a creditor sues a debtor in civil court, is awarded damages for an unpaid...

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The Regulation of Credit Card Interest

The Credit Card Accountability, Responsibility and Disclosure (CARD) Act of 2009, which took effect Feb. 22, 2010, regulates how and when credit card companies can charge interest and increase interest rates. The law bans unfair rate increases and protects consumers from deceptive lending practices. First Year Interest The interest on a credit card must remain the same for the first 12 months the account is open. Credit cards with variable...

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Government Help to Pay Off Debts

The Federal Trade Commission and other government agencies recognize problems created by excessive personal debt. Credit card debt and other credit obligations sometimes lead to poor credit scores and high interest rates on loans, making it tougher for people to afford needed goods and services. There are some government-sponsored programs to help with credit debt, but no direct cash handouts are available. As of 2011, the government does not offer grants, tax-free loans or bailouts for personal debt. Chapter 7 Bankruptcy Bankruptcy is...

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How to Use Introductory Credit Card Offers to Reduce Debt

If you have thousands of dollars in credit card debt, you may be able to save money paying it off by transferring the balance to a credit card with a low introductory rate. This helps reduce your debt more quickly because you can use the money that would have gone toward interest on the other card to pay off the principal on your new card. Instructions 1 Find introductory credit card offers in your mail or by visiting websites of major banks...

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Fastest Ways to Get Out of Debt

According to a Forbes magazine survey of wealthy people, "the best way to build wealth is to become and stay debt free." For many Americans struggling under the burden of debt, it may seem like there's no way out. But as hopeless as you might feel, there are simple things you can do to ease your financial strain and get out of debt faster. You Can Live Debt Free According to a Forbes magazine survey of wealthy people, "the best way to...

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What Happens in the State of Texas If You Do Not Pay Your Payday Advance Loan Back?

A paycheck advance offers a borrower a small loan with a short time frame that the borrower must repay by his next payday. Texas payday loans are unsecured loans, meaning that a lender cannot seize any of the borrower's property in the event of a default. If a debtor cannot pay back this loan, the payday lender may assess penalties set by the state of Texas and can pursue collection actions against the borrower. Late Fees Per Section 342.206 of the Texas Statutes, payday lenders may assess fines on the unpaid balance of a loan. The state...

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SSI Benefits and Credit Card Debt

Supplemental Security Income (SSI) is a benefits program for people who have very little income, few assets, and are either disabled or elderly. If you receive SSI, you are subject to the same credit card and debt laws as anyone else. Court Judgments Creditors cannot garnish or seize SSI benefits, however. If are sued and your creditor wins a judgment against you, you should inform both the creditor and the court that your income is from SSI. By federal law, your creditor cannot garnish or levy your SSI payment, nor can it seize SSI income...

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How to Remove Derogatory Items After Bankruptcy

Bankruptcy offers a fresh start following excessive debt. Bankruptcy pays or eliminates all unsecured debt such as credit cards, and resolves issues with secured debts such as automobile loans or home mortgages. Some people keep cars and homes through bankruptcy, while others allow repossession or foreclosure. The process leads to a slew of derogatory items on credit reports, with limited options for removal. The Federal Trade Commission reports...

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How Large Does an Estate Have to Be to Require Probate in Texas?

In the state of Texas, the estate size is only one determining factor for probate proceedings. The amount of outstanding debt a decedent has, whether she has real estate or other valuables that must be transferred in title or deed, and whether there is an official will all contribute to determining the need for the probate process. Probate Not Mandatory According to probate attorney Dianne Reis, probate is not mandatory in the state of Texas. It can be useful when the title or deed to real property must be changed legally, however, and...

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About Debt Cures

Curing or eliminating debt may be a necessary step for people who are over their head in bills. Legally there are several debt cures. Debt Settlement Debt settlement is used when most of the debts are not secured against an asset such as a house, car or furniture. Secured debt means that if the debt is not paid, the asset can be repossessed by the lender. Unsecured debts, or debts not secured any asset, can include credit cards, personal loans, store credit, and medical and dental bills. When settling a debt, the lender agrees to take...

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How to Beat the Collection Agency

Dealing with collection agencies can be scary, especially if they threaten to take you to court. But you do have rights. You can exercise these rights, and even if the debt is valid, in many cases, you can stop the collector in his tracks. Instructions 1 Write to the collector or collection agency and tell them to stop calling you. Put in the letter that you have been receiving harassing phone calls from them. Tell them you will only communicate...

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How do I Make a Credit Card Payment to UnionPlus.com?

Union Plus is a large banking and finance conglomerate. The finance division--that issues credit cards--is backed by the large British bank, HSBC (Hong Kong Shanghai Banking Corporation). This company is also sponsored and endorsed by the AFL-CIO, one of the largest labor unions in the United States. If you have a Union Plus account, you have several methods by which you can submit payments. If you need to make a payment with a credit card, you have...

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How to Extend Your Unemployment Benefits

When you lose your job and apply for unemployment benefits, you are granted a monetary amount on your unemployment award letter. That amount is given to you in a set weekly amount, which varies. Once you expend that award, you may start to panic if you still haven't found a job. Fortunately, federal extended unemployment benefits can help you continue to receive unemployment compensation. You don't even have to fill out a separate application for the extended benefits. Instructions 1 Use all your initial unemployment benefits. Usually you...

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How to Obtain Free Credit Score

You see the ads all the time that say how to get your free credit score, only to find out it is not free. You need to sign up for a trial on legal or credit protection services. Forget to cancel and you are faced with more fees. The resource I am about to show you how to use is free, no strings attached and very easy to use. Instructions 1 Open up your Internet browser. Type in www.creditKarma.com on the top address bar and hit your enter key. 2 Click on the yellow get your free credit score button at the top of your screen once...

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How to Consolidate Collection Agency Debts to One Monthly Payment

Making multiple monthly payments on debts held by collection agencies can be stressful. The collection agencies may harass you by telephone if you are late by even a day. Or you may find that you have over-committed on your promises to pay and that your budget won't allow you to pay what you have promised. Consolidating all the debts into one affordable monthly payment could help you better manage your budget and relieve some of the stress. Instructions 1 Get a debt consolidation loan or home equity loan. Granted, credit approval may not...

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Can a Company Turn a Debt Over to a Collection Agency If Payment Is Being Made?

Sometimes, a creditor will no longer wish to attempt to collect on a debt and will decide to turn the debt over to a collection agency. Usually, a creditor will only do this if the debt is delinquent and the company believes collecting on the debt will be difficult. However, a creditor is legally allowed to sell a debt at anytime, including to a collection agency, even if the debtor is paying on time. Debt Contracts A consumer usually will sign a document in which he agrees to make repayments on the amount of money he took out according...

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Can a Debt Collector Sue After Seven Years?

If you become delinquent on a debt, the owner of the debt automatically has certain rights and can try multiple strategies to collect the amount in arrears. The creditor can also choose to "charge off" the debt as a tax loss and sell it to a debt collection company. Typically, the account has been delinquent for around 180 days before a creditor will convert it to charge-off status. There are also certain protections for debtors to ensure that collectors don't abuse their authority. Statute of Limitations One type of protection is a statute...

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How to Pay for an Overdrawn Checking Account When You Live Paycheck to Paycheck

Overdrawing a checking account can be unavoidable at times for people trying to balance housing payments, utility bills and other necessary expenses on a limited income. The term "living paycheck to paycheck" means that an individual holds no savings or investments and consistently runs out of money before the next paycheck. Living this way can make it extremely difficult to pay off outstanding debt, but a solid plan can put you back on the right...

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How Can I Remove the Fraud Alert From My Credit?

A fraud alert is a notification in your credit report that warns creditors you have been or may be the victim of credit fraud or identity theft. The alert is a security measure to prevent creditors from opening new accounts under your name. There are two types of fraud alerts: initial and extended. An initial alert lasts 90 days. An extended alert remains in your credit report for seven years. You can remove a fraud alert by contacting a major credit...

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What Does Derogatory Mean for a Credit Report?

Your credit score has a powerful impact on your life. You can expect your credit to be evaluated when you apply for loans, housing and credit cards. The lower your credit score is, the less likely you are to be approved. Facts If an item is marked as "derogatory" on your credit report, this means that the item has a negative impact on your credit score, causing it to drop. Some examples of derogatory items are bankruptcies, judgments and...

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Consumer Rights Concerning Debt Collections

Consumers who are behind in paying their bills are protected by laws that limit debt-collection companies' methods for collecting a debt. People may be able to avoid lawsuits and wage garnishments by dealing with collection agencies to settle their debts. However, they don't have to endure harassment or abusive behavior from debt collectors in the process. Debt Collection Act The U.S. Fair Debt Collection Practices Act prohibits debt collectors...

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Help With Consolidation for Consumer Debt

Consumer credit can get out of hand if you hit unfortunate circumstances or are unable to control your spending. You may be interested in effective methods to simplify your debts and ultimately pay off the balances more quickly. Debt consolidation provides a means to combine your outstanding balances into one loan payment. Use Credit Cards to Consolidate There are different methods of debt consolidation, and if you're a credit cardholder, consider applying for a low-rate credit card and then transferring all your balances to the new card....

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Guidelines for Bill Consolidation

After paying multiple bills in a single month, you may have the idea of consolidating your accounts into a single package, so that your life can be simplified. While debt consolidation is a common process, you need to keep a few tips in mind so that you consolidate in the correct manner. Consider Home Equity When you want to consolidate your bills, your home's equity can be a very valuable tool to use. You could take out a home-equity loan or a home equity line of credit to gain access to money that you can use to pay off your debts. By...

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