How to Improve a Credit Score With a Revolving Credit Balance

Your credit score can affect many aspects of your life, including employment, loan interest rates and your ability to buy a house. Knowing a few ways to improve your credit score can save you thousands of dollars a year in these areas. The balances you hold in your revolving accounts, such as credit cards, can have a major effect. According to the Federal Citizen Information Center, the most effective way to improve your credit score in this area...

Read More

How Can I Get Divorced When We Are Drowning in Debt?

The emotional devastation brought about by the breakup of a marriage becomes even greater when accompanied by the devastation of the parties' finances. A couple living paycheck-to-paycheck may not be able to pay all of their debts and still cover basic living expenses after a separation adds another set of living expenses such as rent and utilities but doesn't add more income. While you may experience significant financial difficulty if you're mired in debt and you want to separate, your bills don't have to trap you in an unhappy marriage. Instructions...

Read More

Hardship Programs for Debt Relief

When individuals feel like they are drowning in debt, many begin to look into alternative payment options. While filing bankruptcy is an option for some, others would prefer to repay their debts. Choosing a debt relief program designed for financial hardship can benefit many. However, it is extremely vital to research programs beforehand to ensure that the debt management program is legitimate, as companies do exist that will take advantage of consumers...

Read More

How to Avoid Bankruptcy in Rhode Island

Avoiding bankruptcy in Rhode Island can be done with the help of competent professional advice and a strict commitment to debt management. Lawyers.com reports that causes of bankruptcy in Rhode Island are the same as in other states. A job loss or illness can create a financial crisis, especially if you were already overextended on credit. Seeking alternatives to bankruptcy can help you avoid ruining your credit while rebuilding your finances. Instructions 1 Review your rights under the terms of the Rhode Island Fair Debt Collections Act....

Read More

How do I Settle Credit Card Bills?

The Federal Trade Commission advocates a host of options for consumers in debt, including credit counseling, debt consolidation and debt settlement. Debt settlement can eliminate credit card debt completely but reflects poorly on credit reports. A settlement offer from your credit card company allows you to pay a fraction of your balance, and the entire debt is forgiven. Instructions 1 Evaluate settlement letters. According to Bankrate, if...

Read More

How to Get a Credit Card Company to Accept a Lesser Payoff

Credit card companies make business decisions every day. To convince them to accept a lesser amount than the entire balance you owe, you will need to provide complete financial disclosure to aid the companies in their determination. This is not an easy process because the law is on the side of the credit card companies. They can, and will, sue you to recover what you owe. Instructions Getting Started 1 Contact the Customer Service Department....

Read More

How to Request a Credit Check

Monitoring your credit is essential to financial health. As part of the Fair Credit Reporting Act, passed in 2003, consumers now have the ability to obtain free copies of their credit reports from all three credit bureaus -- TransUnion, Equifax, and Experian. A credit report contains valuable information about borrowing history and fiscal responsibility. Requesting a credit check on yourself or someone else is quite simple. Instructions Requesting a "Soft" Pull 1 Pull your own credit. A "soft" credit pull is one that does not generate an...

Read More

Government Programs for Credit Card Debt

Although numerous advertisements can be found indicating that there are federal funds available for assisting people who have credit card debt, the fact is that there are no such programs. Even though some of the companies which claim to be able to assist the individual in relieving debt will use the word "federal" in their company name, they do not have any relation to the federal government, nor do they have funds available from the government....

Read More

Is Credit Card Debt Enforceable?

Credit cards are a form of consumer loan or unsecured loan. While unsecured loans are valid, enforceable debts, they are not backed by any form of collateral, which can make collection difficult in the case of default. What it boils down to is that in many states, the credit card company has no recourse except to report your nonpayment to the credit bureaus (which will hurt your credit rating). Secured Loans Vs. Unsecured Loans A secured loan, like a mortgage or a car loan, is backed by some form of collateral, such as a car or house, but...

Read More

How to Reduce Debt With Credit Counseling Information & Resources

Nonprofit credit counseling agencies can offer unbiased advice for reducing your debt. The agencies will discuss all your options, but may not endorse debt settlement or bankruptcy -- two debt elimination strategies for avoiding much or even all your unsecured debt at the expense of your creditors. Up to 80 percent of your credit card debt can be eliminated through debt settlement, according to SmartMoney.com, and bankruptcy can eliminate all your unsecured debt. The only way to reduce secured debt, such as a mortgage or auto loan, is to pay down...

Read More

Which Is Better: Bankruptcy Vs. Debt Negotiation

When the bills keep piling up and the minimum payments don't seem to make any dent at all, many consumers look for a way out of their debts. Two options consumers often consider are bankruptcy and debt settlement. While both are viable options, neither is without its drawbacks. What is right for each individual differs from case to case, so you need to carefully evaluate your options before choosing one over the other. Settlement Positives Debt settlement can be very helpful to consumers who are unable to pay their bills on time and who...

Read More

What Does It Mean When a Creditor Threatens to Sue You?

Drowning in a sea of debt is bad enough, but getting incessant phone calls from creditors threatening to sue can send anyone over the edge. Although some collectors try to use strong-arm tactics to intimidate debtors into paying up, the Fair Debt Collection Practices act limits a collector's ability to make threats the collection agency has no intention of carrying out. Fair Debt Collection Practices Act The Fair Debt Collection Practices...

Read More

Can I Consolidate Debt If Unemployed?

Some consumers turn to debt consolidation in an attempt to simplify their bill payments or lower their monthly bills. If you choose to consolidate debt or take out any loan when you don't have an income, you must be very careful. Lenders need to know that you can pay back the loan, and if they grant you a consolidation loan while you are unemployed, you are not likely to receive competitive interest rates or terms. Loans A debt consolidation...

Read More

Can I Use Georgia Food Stamps in Michigan?

Many low-income people receive vouchers from the government to help them buy groceries. These vouchers, known as SNAP --- Supplemental Nutrition Assistance Program --- benefits or foods stamps, are provided on a monthly basis. While these benefits are issued on the state level, the program is a federal one. Therefore, benefits do not need to be used in the state in which they are issued. So, food stamps issued in Georgia can be used in Michigan. Food Stamps Although food stamps used to be issued as stamps, they are now issued in the form...

Read More

Can a Garnishment Keep Me From Getting a Job?

Garnishment allows regular deductions from your paycheck to satisfy a debt. The action is possible after a debt collector or someone else successfully sues you in court and wins a monetary judgment. A second legal order forces your employer to comply with court-ordered garnishment. Garnishments are embarrassing for employees and bothersome for employers. It is possible that a garnishment could keep you from getting a job, but no one can say for sure. Background Checks Employers generally do not disclose reasons for their hiring decisions---including...

Read More

How do I Put a Child's Name on a Credit Card?

Credit management is a vital part of financial security. With a great credit rating, you can qualify for advantageous loans and interest rates. This is, of course, true for credit cards. These revolving accounts, if poorly managed, can quickly overwhelm you with late fees, over-limit fees and high interest rates. Good credit management should start at a young age. If you have a child who has yet to establish credit, you can put him on your existing...

Read More

How to Restore the Integrity of Your Credit Card Account

Credit card companies extend credit based on credit reports and a FICO score. The Fair Isaac Corporation formulated the FICO scale for creditworthiness. Outstanding consumer charges on credit cards amounted to $785 billion in March 2011, according to the U.S. Federal Reserve. Poor credit hurts your chances of obtaining part of these credit offerings, qualifying for additional credit cards and increasing your credit limit on your current cards. Restoring...

Read More

How to Get Child Support Reduced in Iowa

Iowa allows you to request a reduction in your child support amount. The Child Support Recovery unit uses Review and Adjustment to evaluate your reduction request if more than two years have passed since your order was entered. Administrative Modification is used if your order is less than two years old or has been modified in the last two years. The application process is the same for you no matter what designation your case falls under, but Administrative Modification requires special circumstances for approval, such as a drop of 50 percent or...

Read More

About Debt Reduction Services

Your debt loads decrease the moment you start spending less than you earn and commit the additional funds to paying down your credit cards. You may experience frustration and withdrawal as you eliminate the perks you were enjoying by running up your credit cards, but ultimately, you gain control over your finances. There are ways to make a plan for yourself or to enlist the aid of services to assist you in your financial goals. Credit Counseling...

Read More

Debt Consolidation Explained

Debt consolidation is often presented as a saving grace for an overburdened consumer. The thought of replacing numerous high-interest debts with a single low payment can appear too good to be true. Unfortunately, that's often the case. Too often, people will jump at the chance to consolidate their debt without fully understanding the situation. Secured vs. Unsecured Unsecured debt is the most common factor in seeking consolidation. Secured...

Read More

How to Fix a Negative Line of Credit

A negative line of credit is a credit account with late payments. The negative payment information is listed on your credit report and with the creditor. The negative credit information may prompt the creditor to reduce your credit line or even close the account. Fixing this problem is simple, but it may take some time. The Federal Trade Commission suggests that you can do this yourself by working directly with your creditor. The agency advises against using credit repair firms, because some have been known for shady business practices. Instructions...

Read More

How to Build Credit History in the USA

Primarily used in the past for lending, your credit history is now utilized by employers evaluating job candidates, landlords looking to lease apartments, and even insurance companies deciding whether to extend auto or health insurance. Creditors use your history of financial responsibility, i.e., your credit score and credit report, in determining whether to lend you money. Establishing good credit is a matter of learning what to do before you...

Read More

About Wage Garnishment and Collection

Most creditors will attempt to collect consumers' debts amicably via telephone calls and letters before proceeding to other collection methods. If an individual ignores a creditor's attempts to elicit payment from him on his overdue account, the creditor may request a wage garnishment order from the courts. Facts Before a court will grant a creditor the right to garnish an individual's wages, the creditor must file a lawsuit against the consumer....

Read More

Credit Management Analysis

A company needs to have an effective credit management system to be successful. This helps determine how efficient a company will be achieving its goals and objectives. The other side of credit is collections. An collection department that operates effectively will help a company limit the losses it incurs, which can also increase profit and help the shareholders earn a return on their initial investment. Ability When a company starts extending credit, it needs to have policy for credit that allows it to maximize profits. There are several...

Read More

How to Settle Judgments

In a difficult economy, even responsible people can find themselves buried in debt. At the same time, creditors often are desperate for cash and might be willing to settle debts, even valid judgments, that they might not have been willing to negotiate before. If you can settle a judgment, you can save money, possibly improve your credit score, and have the peace of mind that comes from being free of onerous debt. Instructions Make an Offer 1 Determine who your creditor is by examining the court ordered judgment. You should have been provided...

Read More

What Are the Negative Ramifications of a Debt Consolidation Loan?

Although a consolidation loan is seen as a dark mark on your credit report, the negative impact that may come from obtaining a consolidation loan comes more from how you use the loan. If you are dedicated to paying off your balances and keeping them paid off, the effect of the loan on your credit score -- and your life -- may be positive. However, many people in need of a consolidation loan have deep-rooted issues with money that end up luring them into using the credit freed by a consolidation loan. Credit Score Whenever you apply for...

Read More

How to Write a Paid-in-Full Statement

A paid in full statement is a letter to your creditor that explains the details of the debt owed and how and when you will pay this amount. Write a paid-in-full statement as a formal letter. You may want to consider typing the letter so there is no confusion over the language in the letter. Often this letter is written before you write a check for the final payment in order to give the creditor time to look through your account and agree to the paid...

Read More

Can Cell Phone Companies Hold Minors Liable for Their Phone Bills?

Although they may not yet be old enough to vote or to drive, many minors have their own cell phones. Some of these kids pay for the phones themselves, while others have parents or significant others help them financially. However, regardless of who pays for these phones, a contract for a cell phone must be signed by an adult of legal age, or it is not valid and the cell phone company cannot collect on the debt. Cell Phone Contracts When a person takes out a cell phone plan with a company, he is usually required to sign a contract with that...

Read More

How to Remove Outdated Credit Information

Nearly every aspect of your life is governed by your credit report. Information contained in your credit report can be used to determine whether you get approved for health or life insurance, get a loan to buy a house or even if you get hired for a job. Fortunately, credit mistakes don't affect you forever, and most information is eventually eliminated from a person's report. Sometimes, though, credit reports contain outdated information and it becomes necessary to file a dispute to have that information removed. Instructions 1 Order copies...

Read More

The Debts That Debt Settlement Can't Solve

Sometimes in life people find themselves so far in debt that they do not see how they will ever be able to get out. The circumstances surrounding the debt can be from a variety of reasons from overspending to loss of a job. Some people decide that debt settlement is their best option, meaning they pay an agreed-upon amount that is less than the actual debt. You cannot settle every type of debt. Student Loans Student loan debt cannot be settled....

Read More

How Does Loan Forgiveness Work?

The average undergraduate student has more than $20,000 of debt when he graduates, and after going on to get a higher degree, most students have even more debt. Thankfully, there are a wide variety of loan forgiveness programs that free borrowers from some of the burden of making student loan payments. Premise Loan forgiveness is a process by which students have all or part of their remaining student loan balance canceled. After having that part of the loan forgiven, the borrower does not ever have to repay that portion or pay any more...

Read More

Debt Counseling Information

When you get yourself into a large amount of debt, you may be looking for any alternative that you can find besides filing for bankruptcy. One option that many choose is debt counseling. Debt counseling is a program in which a trained counselor helps you evaluate your options and possibly set up a debt management plan. Evaluate Situation When you set up an appointment with a legitimate debt counseling service, one of the first things that you will do is evaluate your current situation. Your debt counselor will sit down with you and look...

Read More

Financial Help for Debt Consolidation

When you have several debt accounts that are maxed out, it may feel like you have a mountain of debt that can never be overcome. While it can be discouraging, you can explore options to get past it. One option that many people choose to pursue is debt consolidation. Debt consolidation can be beneficial, but you have to be careful with the process. Debt Consolidation The process of consolidating your debt involves putting all of the debt from multiple accounts into one place. This can be done with a variety of techniques, including taking...

Read More

How to Become an Effective Counselor

To be an effective counselor, you must do more than take the required classes or complete your service requirement. You must be able to establish rapport with your clients. Practice counseling techniques aimed at making your clients feel accepted and understood to establish a proper counseling relationship. Instructions 1 Practice active listening. Active listening requires looking at and listening to the person and reflecting back his feelings. For example, you might rephrase what the person has said or say something like, "I imagine that...

Read More

Can You Negotiate With Credit Card Companies to Lower Payments?

If you find yourself with large amounts of credit card debt that you do not believe you can reasonably repay, you may attempt to negotiate a deal with your credit card company to reduce your monthly payments and ease your financial strain. Facts You can negotiate with a credit card company to lower the interest rate on an account, lower the account balance or eliminate fees. This may, in turn, reduce your monthly payments. Time Frame...

Read More