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, March 31, 2006

Debt Restructure Information

If your debts are overwhelming, you may consider asking your creditors to restructure the amounts that you owe to make your debts easier to pay. Having your debts restructured can lower your stress levels and save you from foreclosure or a lawsuit. Facts A restructured debt is a debt on which the original repayment terms are modified. Creditors restructure debts to lower the odds that a consumer will default on the amount she owes. Features...

Can You Transfer Student Loans From Cosigner to Borrower?

Many students use a co-signer on loans when they enter college. Students are often not earning a salary, have little to no credit history and otherwise will not qualify for loans on their own. Once the student graduates, however, he is likely to be in a much better position to qualify for a loan without a co-signer. In this case, it is possible to modify or refinance a student loan into the borrower's name only. Process You cannot simply...

How to Negotiate Debt Resolution Letters

If you've gone through a major change in life, such as a divorce, serious illness or corporate upheaval, you may have found it difficult to pay bills. There are plenty of debt negotiation firms that promise to negotiate with your creditors on your behalf. However, negotiations are something you can do yourself. Not only will you save the money you would have paid the debt negotiation firm, but you will also have an intimate sense of precisely where...

Default on Debt Obligations

If you default on a debt obligation, the credit card issuer or lender can bring legal proceedings against you in a state court. Your state's statute of limitations laws on debt collection limit the length of time creditors have to sue you for an unpaid debt obligation. Debt is only collectible in a state court if it has not expired. Identification Lenders have a number of options when it comes to the enforceability of an unpaid debt obligation. The lender can pass the debt along to an internal collection department for further collection...

Thursday, March 30, 2006

What Is Shown on a Credit Report?

The information listed on your credit report determines whether your next loan application will be approved and what interest rate you will pay on that loan. Your credit worthiness is determined by the financial information stored about you with the three major credit bureaus. The three bureaus are TransUnion, Equifax and Experian. Although your actual FICO score is not on any of these reports, the information in the pages gives an in-depth view...

How to Finance Computers Without a Down Payment

Computers, especially notebooks, can be quite expensive. However, most major computer companies offer financing to help spread the cost over time. In addition, many local banks, credit unions and finance companies offer small personal loans for any purpose. Financing a computer is relatively easy so long as your credit is not substandard. Instructions 1 Access a copy of your credit report. Go to Annual Credit Report, the federally mandated...

Wednesday, March 29, 2006

How to Make a Settlement With American Express

American Express Company is one of the world's largest bank holding companies. It offers charge cards and credit cards to people around the world. Its charge cards require payment in full each month, while the company's credit cards offer a line of credit and monthly payments for people who prefer to pay over time. Like all other charge and credit card companies, American Express has some customers who default on accounts because of nonpayment. One option for resolving bad debt with American Express is to request a settlement. Debt Settlement...

What Assets Are Protected From Seizure?

Assets protected from seizure resulting from court judgments or bankruptcy vary from state to state. Assets that may be protected from court judgments are not protected if they are the collateral used for the loan. For example, although motor vehicles up to a certain amount may be protected, the vehicle may still be seized by the company making the loan if the borrower is in default. Protected Assets In most U.S. venues, assets protected from seizure due to judgment include the initial $2,300 worth of motor vehicles, 75 percent of wages,...

I Am Appearing Before a Judge on a Judgment on a Credit Card: What Do I Do?

While being summoned to court over a debt can be a scary experience, it's important that you do appear before a judge. By doing this, you show the court and your creditor that you take your debt seriously and want to get the matter resolved. If possible, at least speak to a lawyer before going to court, and make sure that you gather together any evidence that may help your case. Seek Legal Counsel If you receive a summons to court, it is a good idea to talk to a lawyer, even if you can't afford full representation. A lawyer can help you...

Tuesday, March 28, 2006

What Is a Debt Hardship?

Unfortunately, there may come a time in your life when you are unable to cover all of your debts. While the causes vary widely, they often stem from unexpected expenses that can deal a mighty blow to your budget. When this happens, the financial world refers to it as debt hardship. Simply put, debt hardships mean you have incurred expenses that you cannot afford. Medical Expenses Medical expenses are one of the most common debt hardships...

Brief History of Consumer Credit

Consumer credit is ever-present in the twenty-first century. It is obtainable in a variety of forms, including credit cards, financial advances and loans for designated purchases, such as automobiles and pricey retail items. As early as Columbus' voyage can credit-based transactions be traced, but modern society's consumer credit did not appear until the nineteenth century. Function By definition, credit is the stipulation of payment that...

How to Eliminate Duplicate Accounts on Your Credit Report

Your credit report is an important tool when it comes to obtaining auto loans, mortgages, credit cards and even employment opportunities. A favorable credit report increases the odds that you will be able to obtain good interest rates and higher credit limits on credit accounts. If you notice duplicate accounts on your credit report, you can dispute them either through the mail or by using an online application at the credit reporting agency's website....

Do it Yourself Debt Relief

Do it yourself debt relief requires educating yourself regarding money management methods. In order to relieve debt, you must deal with more than just the debt itself. You will also have to change the way you manage your daily budget. Behaviors and lifestyle choices created the need to work on a debt relief plan. This means that for debt relief to occur, you must change your pattern of living. Doing so will help to build your credit and eventually...

Monday, March 27, 2006

How to Create a Debt Consolidation Plan

A debt consolidation plan allows individuals to determine the best way to pay down debt. There are many methods to consolidation but all of them involve a plan. The plan needs to outline what your debt is and how it will be paid down. For those considering a debt consolidation loan, it is important to create a plan to avoid getting further into debt. A debt consolidation plan can help you to start a financially successful life. Instructions ...

How Is Information Stored on Credit Cards?

Magnetic Strip Technology Credit cards encode information by using magnetic stripes, and data is stored by changing the magnetism of iron-based particles on the band of magnetic material. These black magnetic stripes, sometimes called "magstripes," also may include other technology, such as an RFID tag, a transponder device or a microchip. Invented by IBM engineer Forrest Parry, these magnetic strips are in similar in part to cassette tape...

Consolidation Loans for Non-Homeowners

Getting a loan to consolidate debts is easier for homeowners. Because of their home's equity, they can apply for a mortgage refinance or home equity loan and use the money to pay off their debts. Yet, it's also possible for non-homeowners to get a debt consolidation. A debt consolidation is beneficial because it typically involves lower interest rates and fixed terms, which allows a borrower to become debt-free in a relatively short period. Instructions 1 Find a co-signer with good credit. If you don't own a home, but you want to get a debt...

Saturday, March 25, 2006

How to Use a Debit Card to Make Purchases at a Store

A debit card is a bank card that resembles a credit card. When it is used to make a purchase, however, the money is taken directly from a person's checking or savings account. The deduction may occur in as little as 24 hours. Individuals who prefer not to write checks, but also don't want to carry cash commonly use debit cards. Instructions 1 Gather the items you want to purchase and proceed to checkout. 2 Present your debit card to the cashier. If there is a card scanner near the register, she may request that you swipe your card....

Are Authorized Users Responsible for Debt?

An "authorized user" is a person who is given permission to utilize the credit extended to another account holder. Credit card companies and other credit grantors allow approved account holders to allow designated individuals to use their account. Although authorized users may incur charges to the account, they are not legally responsible for repaying the debt. Benefits A major benefit of being an authorized user is that you can have access...

Can an Account Be Submitted to a Collection Agency?

If a creditor lacks the time or resources to collect debt from consumers on its own, it has the option of hiring a collection agency. Creditors who elicit the services of these companies either retain ownership of the account -- paying the debt collection company a percentage of what it recovers -- or selling the account in its entirety, relinquishing the debt. Not only can a creditor submit an account to a collection agency, but doing so is a fairly common business practice. Delinquency and Collection Creditors only submit accounts to...

About Credit Consolidation

When times get tough with money, people look for a way to lower their bills. If you have good credit and want to maintain it during an economic crisis, you may consider credit consolidation. This can help you in some situations, but in some ways consolidating credit can actually hurt you in the long run. Read on for an explanation of how credit consolidation works. Function Credit consolidation is when you decide to place a number of credit balances onto a single account. Let's say you have three cards with balances of $1,000 a piece, but...

Friday, March 24, 2006

How Much Should My Score Raise If I Pay Off Three Collection Debts?

Paying off debt can increase your credit score. Paying Bills Improves Credit Scores. According to myFICO, paying bills on time improves credit scores. The same can hold true when paying off three separate collection accounts. Paying off debt demonstrates that you are a responsible consumer. Starts the Clock. Paying off any old debt re-ages the account. According to the Fair Debt Collection and Practices Act, collection...

Can I Lose My Bank Account if I Have a Judgment?

Creditors and lenders are often serious about collecting unpaid debts. With this said, creditors and lenders may contact people with past due balances to get the account back on track. But when attempts prove unsuccessful, creditors and lenders can take legal action to acquire a judgment and possibly seize bank accounts. What is a Judgment? Once a judge reaches a decision with regard to a credit lawsuit, he can issue a judgment, which basically awards the creditor the owed funds. Debtors receive a judgment notification on their credit report,...

How to Decrease Credit Card Attrition

Faced with an increasing number of charge-offs and a liquidity crunch, credit card issuers have been slashing their customers' available credit limits to reduce liability. Some analysts have suggested that over $2 trillion of lines would be cut by the end of 2010. Lower available credit may hurt your purchasing ability, your personal cash flow management and even your credit score. Per most card agreements, creditors do have the right to raise or lower your credit limit at their discretion. However, there are some things you can do to make it...

Thursday, March 23, 2006

Tips to Reduce Credit Card Debt

There is only one sure-fire way to reduce your credit card debt: Spend less money than you make, and use the savings to pay down your debt. The painless way to do this is to make more money, but as that option is rarely available, you need to find other ways to reduce expenses. Track What You're Spending It's impossible to spend less before you know exactly where your money is going. Few people have an accurate handle on their expenditures; that daily espresso may seem like a small splurge, but at $4 a day, that's $1,000 a year coming out...

How Will a New Credit Card Bill Affect Me?

A new credit card bill means you started using a credit card account for purchases or balance transfers. The transaction itself, and the way you handle the bill, affects your credit reports and score. Credit card use benefits you if manage your accounts responsibly by keeping balances reasonable and paying on time, but it hurts you if you spend too much, or fall behind on your payments. Debt Load The owed balance and amount you pay on your new credit card bill affects your credit score. MyFICO, the Fair Isaac Corporation scoring website,...

Wednesday, March 22, 2006

Does a Student Loan Affect Buying a Car?

Having a student loan will impact a person's future ability to get a loan to buy a car or make any other purchase, so how a person manages a student loan will impact her credit score. Because a person's credit score is one of the most important factors that lenders use to determine whether to approve a loan, it is important for anyone with such debt to understand specifically how his life and credit record can be affected by all factors involved in having student loans on record. Payment History For many people, a student loan is the first...

Credit Card Debt Settlement Strategy

Credit card accounts can be paid off for less than the full balance through credit card debt settlement. Savings are often significant, ranging from 20 to 70 percent according to SmartMoney. The process is sometimes intimidating for people with little negotiating experience, but becomes easier over time. Mapping out a sound strategy is important because of tax implications and other reasons. Timeline Credit card debt is available only on delinquent accounts. Card companies will not settle accounts that are being paid as agreed. Individual...

The Best Ways to Get Credit

Applying for a mortgage loan with no credit history can bring on a rejection. There are good reasons to build a credit history, and with countless ways to get credit, you can quickly create a high personal credit score and become a prime candidate for loans offering low interest rates. Start with Your Bank Holding a savings or checking account with a bank or credit union opens the door to credit cards with the institution. Getting a major credit card can prove challenging with no prior credit history. But, if you have a good relationship...

Tuesday, March 21, 2006

How to Clean Everything Off a Credit Report

Your credit score is important, and having a low or negative score can prevent you from obtaining a mortgage loan, auto loan or credit card. Fortunately, there are several ways to clean every negative item off your credit report, and raise your score by 100 or more points. With a higher score, you're able to acquire financing and obtain the best interest rate. Instructions 1 Obtain a copy of your credit report. Before you can clean negative...

How to Send an Update to a Credit Reporting Agency

Every consumer is entitled to one free credit report from each of the three credit agencies once every 12 months. Consumers should take advantage of that law and check their credit reports each year to make sure that the information is accurate. If you do see inaccurate information and need to update your credit report, you can use the resource websites below to find out what kind of information the agencies need to make an update. There is also...

Saturday, March 18, 2006

How to Answer a Lawsuit by a Creditor if You Are Insolvent

Insolvency means a person has more debts than assets, according to the Internal Revenue Service. However, insolvency is not a suitable defense in a credit card lawsuit. Declaring insolvency is the same as saying you simply don't have the money to pay the debt. Such a response to a lawsuit is sure to lead to a monetary judgment and possible garnishment of your bank account or wages. If insolvency is your only defense, it's best to settle the lawsuit out of court. However, to protect your rights, you should still provide a legal answer to the lawsuit....

How to File for Unemployment Benefits in Kentucky

When you lose your job in Kentucky, you should immediately file for unemployment benefits. The Kentucky Office of Unemployment and Training processes all unemployment benefits applications. The office allows both telephone and online filing for unemployment benefits. It should take around 15 minutes to submit your application. Instructions 1 Get together you employment history for the past 18 months. For each job you held, you need the business...

Is it a Felony in Texas to Bounce a Payday Check?

Payday loans -- loans paid back in a short period of time, usually several days to a month -- command a very high rate of interest. If a person fails to pay back a loan by the date set by the lender, he will usually be assessed additional fees, too. In Texas, a person who maliciously passes a bad check is guilty of a felony. However, if a payday borrower bounces a check, it is not considered a crime. Payday Loans Many payday loans are set up so that the borrower will in fact give the lender a postdated check at same time as he borrows the...

Friday, March 17, 2006

Is My Credit Clean After Seven Years?

Credit reports and credit scores only help businesses make accurate lending decisions if those reports are up to date. The Fair Credit Reporting Act (FCRA), a collection of federal laws that governs the credit reporting industry, sets reporting periods for different types of information. A reporting period ensures that data remains on file only for the length of time that it is valid to lenders. Because of this, negative information cannot linger forever within your credit records. Reporting Period According to the FCRA, most derogatory...

Thursday, March 16, 2006

When Are Garnishments Stopped?

By garnishing wages, your creditors can collect on your unpaid debts. If you default or stop paying a creditor, he may be able to sue you, win a court judgment and then use the judgment to have what you owe taken directly out of your wages or your bank account. Usually this continues until you've paid off the debt, but there are alternative solutions. Garnishment Most creditors have to wait on a court order before they can take your wages. Once a judge authorizes the garnishment, creditors can garnish up to 25 percent of your disposable...

Debt Alternatives

As more and more people struggle to deal with high credit card and loan balances, they often look for alternatives to pay off debt sooner and fix their personal finances. There are consequences to debt, such as credit rejections, higher interest rates and little disposable income. Explore options to help remedy debt and increase monthly savings. Debt Consolidation Debt consolidation, by either taking out a home equity loan or applying for...