How to File an Answer to a Complaint for Credit Card Debt

The first inclination of people who receive a complaint over a credit card debt can be to toss it aside and hope it goes away. Doing this entitles a court to render judgment against you for the full balance of the account plus interest, late fees and any costs associated with the recovery of the debt. Typically, by the time a creditor files a lawsuit against you, responding to the complaint by filing an answer with the court is the only option you have to decrease or eliminate your debt without filing for bankruptcy. Instructions 1 Read...

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How to Get a Student Loan Refinanced

Unlike scholarships and grants, student loans aren't free. You must repay any amount that you borrow, plus interest, after you graduate or stop attending classes. Lenders charge fees for their services in the form of interest. Interest continues to build on the unpaid balance of a student loan until you pay off the debt in full. If your credit and salary have improved since you originally applied for the loan, you may qualify for a lower interest rate than the one your account currently carries -- allowing you to pay down your debt more quickly....

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Debt Relief and Divorce Rights

Debt plays a major role in many divorce cases and can complicate what might already be a difficult case. Attorney fees, child support, alimony and the addition of a new set of living expenses can drive a party's finances to the brink of ruin; with a significant debt load in the mix, divorce might mean total destruction. Fortunately for debtors, there exist several ways to ease the pain of debt in divorce. Debt in Equitable Distribution and Community...

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How to Get a Bank Levy Removed

A bank account levy gives the garnisheeing party the legal right to withdraw monies from your bank account to satisfy a debt you owe. The levy freezes your account: You can put money into it but cannot withdraw until the levy is removed. Creditors and debt collectors must obtain a judgment from a court to garnishee your bank account. However, the Internal Revenue Service, which uses the term "levy" when referring to a garnishment, does not need a...

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Reasons for Denying Credit

If you decide to apply for credit, you may wonder how a lender will determine whether you qualify for a loan, credit card or line of credit. Lenders commonly use consumer credit reports, which contain information about your loan, payment and money management history, as an essential tool for determining your creditworthiness. It may also use information on your application to evaluate you as a potential borrower. Each lender has its own set of criteria; however, there are several common reasons lenders deny credit. Poor FICO Score A FICO...

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Problems With Free Credit Reports

It is wise to check your credit reports to verify you have not become a victim of fraudulent financial activity. Ironically, you will need to take steps to avoid becoming a victim of fraud when accessing free credit reports. Some websites promise free reports, but tack on paid services, and others seek to steal people's identities. Paid Services The U.S. Federal Trade Commission website notes that by law, consumers can request one free credit report from each of the three major credit bureaus every year. However, the FTC warns that Annualcreditreport.com...

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How to Attend College and Walk Away With Little Debt

Although the best job opportunities are typically only open to those who've earned a college degree or a post-graduate degree, the costs of higher education are often difficult to afford. High levels of debt post-graduation may essentially negate the financial gains made by working a job that requires a college degree. However, by doing research, sticking to a budget and closely watching your debt, you can leave college with a lower level of debt...

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Laws About Bad Credit Accounts Placed Twice in a Credit Report

A person's credit report contains his past and present financial information, as well as personal information and public records. Any negative information on a credit report may go against the individual when applying for new credit, insurance or even certain jobs. The Fair Credit Reporting Act (FCRA) is a federal law that promotes accuracy of credit information collected and maintained by the national credit reporting agencies. The Fair Credit Reporting Act The Fair Credit Reporting Act recognizes the importance of the information listed...

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Can You Buy a Home & Also Consolidate Your Credit Card Debt As Part of Your Mortgage?

In certain situations it is possible to consolidate credit card debt as part of a mortgage, although the Federal Trade Commission strongly warns against adding unnecessary debt onto your mortgage. Some lenders offer mortgage loans of up to 125 percent of the property's value, meaning you could take out a mortgage for $250,000 on a home selling for $200,000. That would leave plenty of money for consolidating credit card debt. However, as lenders adopt more conservative lending guidelines, they are not widely advertising first mortgage loans at 125...

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Laws on Getting Rid of Debt in Indiana

Indiana allows residents to eliminate their debts through credit counseling or bankruptcy. Credit counseling as well as Chapter 13 bankruptcy enable Hoosiers to partially repay their debts but negatively impact credit ratings for seven years. Some people may qualify for Chapter 7 bankruptcy, which allows permanent forgiveness of some pre-existing debts but impacts credit ratings for 10 years from the date of filing a case. Asset Considerations Creditors can sue Indiana residents who do not pay their bills on time, unless they file bankruptcy....

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How to Get a Student Loan Deferment or Cancellation

The U.S. Department of Education grants new college graduates between six and nine months of student loan deferments after graduation. Unlike student loan forbearance, which compounds interest on the entire principle balance, the subsidized portion of a deferred student loan -- the part backed by the government -- remains interest-free, thus costing you less when you start making payments. The deferment gives students time to find jobs and work student loan payments into their budgets. You could, however, qualify for a longer payment deferment...

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How to Get Government Assistance to Rent an Apartment With a Baby on the Way

Government assistance to rent an apartment with a baby on the way is available through local public housing agencies if you qualify under income guidelines. The federal government sponsors a "housing choice voucher program," which is also known as Section 8 housing. The vouchers allow some low-income families to qualify for apartments and other forms of rental housing at below-market rates. A woman or couple with a baby on the way could qualify for assistance if certain standards and qualifications are met. Instructions 1 Contact a local...

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Will a Debt Settlement Damage My Credit?

Debt settlements can be a viable option for people who are deeply in debt and want to avoid bankruptcy. Still, debt settlements do have a negative impact on credit ratings. The amount of damage caused by a settlement depends on a person's credit history. For instance, someone who previously had a good credit rating will likely see a bigger drop in his credit score by not paying his accounts in full through debt settlements than someone who has a poor credit history. Function Debt settlements usually allow people to make a one-time payment...

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Credit Repair for Credit Cards

While the ease and convenience of credit cards are unmatched by cash or checks, these positives these can also lead to significant problems. Using your credit cards irresponsibly can lead to a devastated credit score and damage your chances at getting new forms of credit. While you cannot change your past actions, you can begin repairing credit card problems today by taking the right steps. Credit Card Problems Credit card users can fall...

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Is My Husband Responsible for My Student Loan?

Student loans are a significant long-term financial obligation. At the end of your educational career, you may owe hundreds of thousands of dollars, and you must gradually pay back your loans. If you fail to do so, the federal government can take collection action against you. If you live in a community property state or your husband cosigned your student loan application, he can be held equally responsible for your student loan if you default. Community Property State If you live in a community property state, both members of the marriage...

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Will a New Cell Phone Plan Affect My Debt-to-income Ratio?

When it comes to applying for credit, your monthly bills may cost you more than you realize. Creditors consider the amount of money you owe on things such as auto, school and credit card loans and may reject your application if they think you owe too much. One thing they're likely to ignore, though, is your cell phone bill. What Creditors Consider Creditors evaluate you as a borrower based on your past tendency to repay creditors and your ability to add more obligations to the payments you're making now. Your credit report helps them make...

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Is My Wife Responsible for My Debt Under a Sole Proprietorship?

A sole proprietorship is the easiest form of business to create and also the most risky. This business type offers no protection for personal assets in the event the company fails and cannot pay its bills. Even the spouse of a sole proprietorship owner may lose money or real property as creditors attempt to seize assets to satisfy business debts. No Limited Liability A sole proprietorship does not benefit from limited liability protection like a corporation or limited liability company. A business creditor may attempt to seize or place...

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Notification of Correction of a Credit File

Your credit file is one of the most important pieces of information in your life. Vigorous protection of your credit is necessary in order to receive the best interest rates and get the most for your money. Sometimes keeping a clean credit file includes correcting inaccurate information, which can only be done by a creditor or credit bureau. Reviewing Your Credit Report You are allowed one free credit report from each of the three major credit bureaus--Experian, Equifax and TransUnion--per year as per the Fair Credit Reporting Act. Reviewing...

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Steps to Get Out of Debt Faster

Getting out of debt will never happen unless you develop a plan of attack. Debt from credit cards can cause mental stress, especially if you're unable to keep up with the payments. Moreover, debt can have a negative impact on credit ratings, and make you less likely to attain future financing. However, you can fix debt problems and finally achieve a debt-free life. Instructions 1 Organize your outstanding balances. On a sheet of paper write down the names of all your creditors, the amounts you owe and the interest rate on each credit card....

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Laws on Judgements for Unsecured Credit Card Debt

If you have unpaid credit card debt and you are unable to work things out with your credit credit card company, they may attempt to sue you. If they win their case, you will have a judgment against you for the amount that you owe, plus any court costs. If this occurs, a statute of limitations, credit reporting and repossession/garnishment laws can all come into play and determine how a judgment will affect you. Credit Reporting A judgment...

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What to Do When You Are in Debt

Debt hangs over your head, leading to many sleepless nights and worry-filled days. Debt has a tendency to grow and seem insurmountable, but it is possible to get out of debt and stay that way. Taking control of your finances and understanding the basics of becoming debt-free are skills that are simple to learn and can be implemented with discipline. Organization Organization is key to getting out of debt. It is impossible to make any headway...

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Tricks to Earn Reward Points Faster

Reward points are offered by credit card companies as a loyalty scheme; spending a certain amount of money on the credit card earns points that can be redeemed for flights, gift cards and other products. There are a number of strategies you can follow to maximize your reward points and therefore maximize your benefits. Consolidation One of the key strategies is to consolidate. If you have three credit cards with, for example, 100 points on each, this is significantly less helpful than one card with 300 or even 200 points. This is because...

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Plans for Getting Out of Debt

Getting out of debt is like losing weight. Sometimes there's a magic solution, but usually it's a slow process requiring honest self-examination and self-discipline. Most people wind up in debt because of thought processes or habits they aren't even aware of. Changing those is the biggest challenge to getting out of debt. How You See Money Maybe you grew up poor and can't stand to be without. Maybe you grew up believing discounted merchandise...

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How to Apply for Credit After a Name Change

When you are applying for new credit, creditors will run your social security number to yield a credit report. The credit report will reflect your current name as well as any names that you have used in the past. For this reason, if you have legally changed your name, you must ensure that all databases have your new name on record. This will help requests for future credit go smoothly. Instructions 1 Make a visit to your local social security administration to get your name changed on your social security card. This will ensure that your...

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Taking Ownership of Your Credit

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What Improves Credit Scores?

Improving your credit score can save you money by helping you obtain a lower interest rate on a loan. It also can help you to obtain a line of credit, and it may help you get the job you want. Improving your credit score can be the result of developing good credit habits you develop over time, according to the Experian website. Manage Your Credit When you demonstrate the ability to manage your credit on a consistent basis, your credit score...

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How to Fix Credit Fast to Buy a House

For most people, the purchase of a home will be their largest investment and their credit rating the most important factor in how much they can afford to spend on their new homes. If your credit is poor, you may not even be eligible for a loan until you "clean it up." The lower your credit score, the higher your interest rate, resulting in higher payments. Since the amount of your monthly payment can only be a certain percentage of your total...

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How to Close a Macy's Credit Card Account

The Macy's credit card is issued by Citi, a major financial services company. Citi, also known as Citigroup, handles all payments, billings and customer service requests for the Macy's card through a subsidiary -- Department Stores National Bank. According to the Office of the Comptroller of the Currency, Department Stores National Bank does not have any employees or any branch banking offices. The company was created in 2005 for the express purpose...

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How to Buy a Laptop Computer With Poor Credit

Don't let poor credit stop you from buying a laptop. It is possible to buy a laptop on credit even if your credit score is low and you have negative marks on your credit report. Finance Charges Financing a laptop with bad credit means you must be willing to accept one consequence of your poor credit: higher interest rates. Chances are you'll be forced to purchase your laptop computer from an electronics store or department store offering...

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Can I Get Sued by a Credit Card Company if I Lost My Job and Can't Pay?

When you are employed, handling your credit card bills is manageable, provided your spending has been within your budget. When you lose your job, however, tackling your payments becomes harder. If you do not work with the credit card company right away in this situation, your financial problem quickly can turn into a legal one. The Contract When you sign up for a credit card, you sign a contract with the credit card company. This contract...

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How Long Before a Debt Is Written Off?

A debt that is written off is one that businesses will take on their tax return as a loss, meaning that the IRS will subtract the amount of that debt from any income that the business received during that tax year. It benefits the business to either write off an unpaid debt during the current tax year or sell the debt for pennies on the dollar to a collection agency, thus making some profit, but still retaining the ability to take a tax deduction on the remaining debt. When Creditors Write Off Debt For any debt that is 30 days past due,...

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Can a Judge Grab Your Checking Account for a Civil Judgment?

The legal system is complex and can be difficult to understand. It has a vocabulary all its own, and people usually don't use legal terms such as "judgment," "garnishment" and "levy" in their everyday language. If you've been sued, however, and a court has entered a civil judgment against you, you need to understand the legal terms associated with debt collection practices: The collection process can have a significant impact on your personal finances....

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The Best Ways to Consolidate Credit Card Debt

Credit card debt afflicts millions of Americans and, if left unchecked, can cause permanent damage to one's financial status. Getting out of debt often starts with consolidating your credit card payments so you have one monthly bill to keep track of. That allows you to plan for the future more readily and pay down your credit card debt in a timely fashion. When coupled with common sense, steps such as paying more than you owe each month and cutting down on credit card expenditures, make for a simple solution to eliminating debt. One Card ...

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How to Get Out of Debt on a Shoestring Budget

Perhaps your credit card bills are getting higher each month, or you received a large bill from an unexpected repair. Each day more and more people are becoming overwhelmed with debt. Finding ways to get out of debt is especially hard when you are on a shoestring budget. Even though your finances may be limited, there are ways to become debt free. The key to lowering debt on a shoestring budget is to find practical ways to reduce what you owe and...

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Who Is Responsible for Debt After Death?

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What Are the Laws in Texas Concerning Unpaid Credit Debt?

The Office of the Consumer Credit Consumer oversees laws for unpaid credit debt in Texas. These regulations pertain to the pursuit of credit debts owed and the statute of limitations involving these credit debts. Creditors and collection agencies not in compliance with these regulations risk fines and the loss of licenses to operate in Texas. Debt Statute of Limitations The statute of limitations for debt collection involving credit accounts in Texas is four years. A creditor or debt collection company has this amount of time to compel...

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Steps to Figure Child Support in Alabama

Figuring out your child support obligation in Alabama helps you plan your finances accordingly. Child support in Alabama is financial contributions for your child's monetary needs. Alabama bases the child support amount on the income of both you and the other parent involved in the proceedings. The needs of the child are considered, and additional amounts may be added for child care, medical expenses and other special needs. Instructions 1 ...

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