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..

Thursday, June 30, 2005

If a Second Deed of Trust Is Foreclosed What Happens to the First Deed of Trust?

A deed of trust represents a homeowner's agreement to repay a mortgage loan. In contrast to a mortgage, a deed of trust involves three parties: the borrower, the lender and an impartial, third-party trustee who holds the property in trust for the benefit of the lender. The trustee may foreclose on a deed of trust if the borrower defaults on the loan. A second deed of trust, like a first deed of trust, secures the loan against the property's value....

How Much Can You Get on a Pell Grant?

Students can use Pell Grants, which are federal funds intended to help low-income individuals with higher education expenses, to pay the costs of attending trade schools or undergraduate studies at colleges or universities in the United States. The federal government has maximum amounts it can grant to students through the Pell Grant program. Maximum Amount The maximum annual amount of Pell Grant funding was $5,500 as of February 2011, says Federal Student Aid. However, due to their financial backgrounds and/or school costs, many students...

Chapter 13 Bankruptcy Payment Rules

A Chapter 13 bankruptcy filing is a type of bankruptcy where the courts will order a repayment plan for a specified duration to creditors, often allowing the debtor to settle their debts for less than what is owed for the full balance. This type of bankruptcy will have damaging effects to credit, but they won't be as long lasting as the effects of a Chapter 7 bankruptcy. Home Ownership As opposed to a Chapter 7 bankruptcy filing, individuals filing a Chapter 13 bankruptcy can keep homes from foreclosure even if they are behind on the payments....

Monday, June 27, 2005

Objectives of Credit Risk Management

Credit risk management is chiefly responsible for the protection of an organization's lending assets. It must also provide internal communication to its credit representatives with policies and procedures that reduce ambiguity and allow them to best fulfill their duties. Another important objective for credit risk management is customer retention. Other objectives must be met while keeping customers loyal to insure current and future sales. Risk...

Sunday, June 26, 2005

Can Medical Debt Be Reported to Credit Reporting Agencies?

The three major consumer credit reporting agencies, Experian, Equifax and TransUnion, compile information provided by creditors into specific credit history reports for each consumer. Lenders then examine your credit report for your past financial behavior when determining whether or not you qualify for new lines of credit or loans. All types of debt, including medical debt, can appear on your credit report. Reporting Medical Debts As a rule, health care providers do not report the payments you make on your medical debts to the credit reporting...

How to Make a Past Due Bill Payment

Past-due bills can accrue extra fees and interest, so the sooner your account is current the easier it is on the pocket book. With bill pay options such as paying online or using an automated system, paying past-due debts is easier and more convenient. Most payments will even post the same day if you choose to pay electronically. Creditors and even utility companies have set up electronic options for consumers to pay their bills anytime day or night....

Can a Bank Account Be Garnished for Child Support?

Often, a state government will order an individual to pay child support payments to his spouse. These payments are intended to help the spouse raise the child through financial support. Unless the person is able to work out an alternative legal agreement, one approved by a judge, with his spouse, these child support payments are mandatory. A state may garnish the person's wages to collect them if necessary. Child Support When a judge orders a person to pay child support, the person will generally have an opportunity to argue why he should...

How to Legally Reduce Unsecured Debt

Unsecured debts, especially credit cards, are a huge problem for many American consumers. High interest rates, exorbitant fees and high credit limits often leave consumers swimming in debt. If you have an overwhelming amount of credit card debt and cannot dig yourself out of the hole, you have two options for legal debt reduction: settlement and bankruptcy. Instructions 1 Exhaust all other strategies for debt reduction. This includes making drastic cuts in your budget to free up more disposable income, working extra hours or a second job,...

Saturday, June 25, 2005

How to Stop Wage Garnishments in Colorado

Any attempt at stopping wage garnishment has a better chance of success prior to the process being put into place by the creditor. When wage garnishment goes into effect, a creditor is unlikely to stop the garnishment willingly since you were not making payments prior to starting the process. Federal law establishes wage garnishment laws, but each state can create its own laws as long as they do not exceed the criteria created under federal law....

Does Getting Pre-Approved on a Mortgage Affect Your Credit?

Home ownership usually begins with figuring out how much you can afford to pay every month for a mortgage payment in addition to tax and insurance costs. If you have high credit scores from each of the three major credit reporting bureaus, you have a better chance of securing a home loan at a low interest rate. However, the simple act of applying for a loan can lower your score, so proceed with caution. How FICO Scores Work The Fair Isaac...

How Long Does a Lien Stay on Your Bank Account?

A lien or frozen bank account has a great impact on your money situation. You can't write checks on the account or withdraw funds; and if this bank account contains all your funds, acquiring life's necessities can prove challenging. But fortunately, bank liens aren't forever and you can recover funds. What is a Bank Account Lien? A creditor can file a lawsuit to recover funds from an unpaid balance. If you don't appear in court to dispute the charge, a judge can place a credit judgment on your credit report and attach a lien to your bank...

Things to Do to Fix My Credit

No matter how irresponsibly you managed your credit in the past, it can be fixed. Credit repair companies make promises of boosting your credit in miraculously short time frames for substantial fees. However, credit repair takes time. Legal credit repair is free and can begin whenever you are ready to begin improving your finances. Ordering Your Credit Reports The first step in fixing your credit is ordering a copy of your credit reports. In order to know where you're going, it is important to know where you stand financially. Your credit...

Friday, June 24, 2005

About Wage Garnishment

Wage garnishment is usually a last resort by a creditor to get money that is owed to them after all other collection efforts have been exhausted. It can have a lasting effect on your personal life, your career and your credit. Although you are protected to some degree, it can still be devastating. Function Wage garnishment is a court order delivered to the place of employment of the person who is having their wages garnished. The payroll...

How to Move Long-Term Liabilities to Short-Term Liabilities

Long-term debt is a difficult burden to carry. The reason many carry debt for long periods of time is the inability to satisfy the obligation short term. As your financial situation improves, you may find it cost-effective to transfer long-term liabilities to short-term ones. Short-term liabilities are those payable in one year or less. While your payments will be higher, you will save on interest long term. More importantly, you will be closer to paying off your debt and attaining financial freedom. Instructions 1 Reduce the principal owed...

Thursday, June 23, 2005

Debt Management Vs. Credit Counseling

Credit counseling and debt management plans are not necessarily separate entities. They may co-exist, as debt management is one of several options a credit counselor may recommend. For those who feel they are over their heads in debt, credit counseling is an option. It's important to use a reputable credit counseling organization recognized by the National Foundation for Credit Counseling. Credit Counseling Only a credit counselor can recommend that you utilize a debt management plan (DMP), if you are applying the standard financial definition...

Wednesday, June 22, 2005

The Truth About Credit Card Debt

The Average American carries or has carried credit card debt at some point in his life. Figures are all over the board as to just how much that figure is. The numbers being bandied around are anywhere from $2,000 to $8,000. What the average person is carrying, however, is not as important to consumers as each person's personal situation. A consumer should focus on how much he owes and how to understand the intricacies of credit card debt, payments...

Tips for Managing Medical Bills

Individuals with medical bills should educate themselves on their exact insurance coverage and learn the skill of negotiation for medical services. Medical bills, like other bills, can quickly become overwhelming, making it crucial to take control before they affect the quality of your life. Tricks that many people are unaware of can save hundreds if not thousands of dollars. Negotiate People are accustomed to negotiating with insurance companies,...

Tuesday, June 21, 2005

Creditors and the Minimum Amount to Garnish

Title III of the Consumer Credit Protection Act (CCPA) provides a limit on the amount creditors can garnish an employee's wages. Every state has its own garnishment laws, setting forth the maximum allowable garnishment for state residents. However, states cannot impose garnishment laws that exceed the amount provided in Title III. States may set garnishment limits below the federal guidelines or set limits equal to the federal guidelines. Although...

Does Refinancing My Car Loan Negatively Affect My Credit?

Refinancing your auto loan will affect your credit score, but the size of this impact will vary based on the terms of the refinancing. Any time you change your loan and debt profile, your credit score will change as well. However, changing your loan terms only, which is a small change, will likely result in a small change to your credit. Taking a new auto loan can affect your score to a greater degree. Background Your credit score is calculated...

A Way to Fix My Credit Without Paying a Lot of Money

Bad credit scores are not permanent. Many companies offer credit "repair" services at premium fees to attract consumers desperate to patch up their credit scores. However, there are a range of free strategies available to help you fix your credit. No legal strategy works overnight, but understanding the factors that influence your credit can help guarantee improvement in your score over time. Monitor Your Usage Creditors view responsible borrowing as using the amount of credit you can afford and repaying the balance as agreed. If you max...

How to Freeze Your Experian Credit Report

Consumers can protect their credit information by placing a freeze on their credit reports. According to Consumers Union, over eight million people in the USA have their identities stolen each year. Many times the thieves use stolen information to open new credit accounts in the victims' names. A freeze can help guard against credit theft by restricting access to the report until the verified account owner lifts the freeze, either temporarily or...

How to Improve Your Credit Score and Get Rid of Collections

Credit is an important factor lenders use in determining whether to extend you credit. Collection accounts are placed on your credit file if you do not pay debts, such as cable services, cell phone services, credit card companies, loans and video game stores. These accounts will remain on your credit report for seven years and have an adverse effect on obtaining credit you need. It is important to eliminate collection accounts from your credit file...

What Is the Most That Can Be Garnished Out of Wages in the State of Minnesota?

Wage garnishment is a way for a creditor or a collector to recover unpaid debt. Federal laws, such as Consumer Credit Protection Act, limit the amount that a creditor can withhold. Collectors must follow a set of procedures before they can starts taking money from the debtor's paycheck or bank account. Garnishment Process Minnesota law follows the federal laws when it comes to the garnishment process. Before a creditor can garnish wages,...

Monday, June 20, 2005

How Many Years Can a Credit Card Company Try to Collect a Debt?

A credit card company can attempt to collect on a debt for the rest of your life. There are state laws governing how many years credit card companies have to successfully pursue you in court for unpaid debts, and there are federal laws restricting how long the delinquent credit information can remain on your report. But there are no laws forcing the debt itself to expire. Misconceptions Statute of limitations laws, which vary by the state,...

Who Qualifies As Head of Household in Wage Garnishment?

Garnishment occurs after a creditor receives a legal judgment permitting collection of debt by automatic deduction from a debtor's paycheck. Every state has garnishment laws that govern the amount a creditor may garnish during a pay period. Although each state is free to establish its own garnishment laws, these laws cannot establish garnishment amounts in excess of that which is prescribed in Title III of the Consumer Credit Protection Act. Limits Pursuant to Title III, no creditor may garnish more than 25 percent of a debtor's disposable...

How Long Does a Credit Freeze Last?

A credit freeze--also called a security freeze--is a very effective way to protect yourself against identity theft. However, the process can be confusing because the cost and process vary from state to state and among the three major credit bureaus. A credit freeze will remain in effect until you choose it lift it yourself, either temporarily or permanently, unless you live in a state that limits the freeze to seven years. You just need to know how...

Sunday, June 19, 2005

Can a Charged Off Credit Account Be Garnished?

The statistics for 2010 were grim -- more than $75 billion of consumer credit was charged off, affecting 9.35 percent of all credit accounts. The economic conditions of that year led to the highest annual charge-off rate since statistics were tracked beginning in 1989. Despite these losses, banks still want to collect -- and the collectors just might try to garnish debtors to make good on these delinquent accounts. Write Off An account write-off...

Can I Settle My Credit Card Debt Myself?

If you're overwhelmed by credit card debt, you may be wondering what your options are for dealing with it. Depending on your situation, you may consider debt management, consolidation or even bankruptcy. If you're behind on your payments, another option is debt settlement, which can reduce what you owe. While you can hire a debt settlement company to negotiate on your behalf, it is possible to settle your credit card debts on your own. How It Works Your account must be delinquent at least 30 days. Before you contact your creditors, determine...

Can a Creditor Freeze a Joint Bank Account?

When a person owes another party a substantial amount of money, the creditor can take a number of actions to receive compensation. With the permission of a judge, the creditor can often seize assets from the debtor, including garnishing wages and freezing bank accounts. Features According to bankruptcy attorney Ronald S. Cook, a creditor seeking to freeze assets will generally notify the bank of its request. If the bank complies, the account...

What Are the Differences Between a Debt Management Program and Debt Consolidation?

Large amounts of debt can be overwhelming. Debt management programs and debt consolidation are two different solutions for getting out of debt. Both options have advantages and disadvantages. If you are determined to get out of debt or you need help just making your monthly payments, you should review both options. Debt Management Program Most debt management programs are run by credit counseling agencies. In a debt management program, you...

Can a Judgment Affect Assets Held by a Spouse?

Judgments are court orders that allow creditors expanded avenues for debt collections. Not only will a judgment seriously harm your credit rating and place your assets in danger of seizure, judgments can affect assets held by your spouse. The laws in your state of residence dictate whether or not your spouse's assets can be touched by a creditor with a judgment. Bank Accounts If your name is on a bank account held by your spouse, then the judgment may affect the assets held in the account. If the bank account is solely in your spouse's...

Saturday, June 18, 2005

Are Credit Card Debt Elimination Programs Legit?

When credit card users fall behind on payments or get overwhelmed by the amount of debt they have, they often turn to companies advertising "debt elimination" or debt settlement services. Though some of the services these companies offer may be beneficial to you, there is a large percentage of these companies that offer little more than scams or empty promises. Talk to a financial adviser or credit counselor in your area if you need help with credit card debt. Debt Elimination When the company offers itself as a debt elimination service,...

Does a Debt Collector Have to Send a Letter Before a Suit?

There are vital points of verbal and written contact with a debt collector leading up to a lawsuit. Federal and state laws require collectors to follow a specific process when they attempt to recoup debts from consumers. A violation of any part of the process could turn a debt-collection suit in your favor, especially if the violation interferes with your right to defend yourself. Collector Contact The U.S. Fair Debt Collection Practices Act requires collectors to send you a notice explaining the debt you owe within five days of first contacting...

Credit Union Banking Laws

A credit union is chartered by either a state or the federal government and is a financial institution that is owned by its customers. A credit union offers lower rates on loans and pays higher rates on deposits than do most commercial banks. And from time to time, it will pay its excess profits to its customers as dividends. More than 3,000 credit unions, or about 40 percent of the total, are state chartered and are supervised by the National Association of State Credit Union Supervisors (NASCUS). The remainder are federally chartered and are...