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..

Saturday, January 31, 2009

How to Remove Charge-Off Accounts After 7 Years From Your Credit Report

Evidence of financial problems doesn't stay on your credit report forever. Credit bureaus should remove most types of derogatory information, such as charge-offs, from your credit report after seven years. If your credit report still lists outdated charge-offs, you should contact the issuing credit bureau and request a deletion. Instructions 1 Request your credit report from each credit bureau. You can get one free copy of your credit report from TransUnion, Experian and Equifax every 12 months through Annual Credit Report. If you've already...

I Am Being Sued for Old Credit Card Debt

If you have old debt on which you have defaulted, there may come a day when you get a court summons in the mail --- the creditor is suing you. This can happen often with credit card debt. Knowing your rights when being sued for old credit card debt can help you navigate the situation with as minimal a hit to your credit score and your wallet as possible. Do Not Contact the Credit Card Company or Defendant If you have been served in a lawsuit...

Friday, January 30, 2009

How to Clean Up Credit Card Debt

Cleaning up credit card debt is difficult. According to Bank Rate, it's important to take getting out of debt one day at a time. Paying down credit card debt takes time. Making changes such as developing a realistic budget, negotiating lower interest rates and settling with creditors will help. It's also important to realize when you need extra assistance cleaning up credit card debt. Debt counseling and debt management plans can provide assistance. Instructions 1 Develop a budget. First, list all of your monthly expenses. Then, list your...

Can an Ex-Landlord Garnish Wages From a Judgment in Florida?

When a tenant does not pay the rent agreed upon in his contract with a landlord, the landlord is legally allowed to pursue collection of this debt whether the tenant remains on his property or has moved on. The landlord has a number of ways to collect the debt, including garnishing the former tenant's wages. In Florida, before garnishing a debtor's wages, a creditor must first receive a civil judgment against the debtor and then a writ of garnishment. Garnishment Because debt derived from delinquent rent derives from a legally enforceable...

Wednesday, January 28, 2009

What Is Government Credit Counseling?

If you feel that you no longer can manage your debts without help, or if you are considering bankruptcy, you might wish to seek credit counseling. Credit counseling services work with your creditors to lower your balances and interest rates while helping you learn more efficient debt management skills. Facts The U.S. government does not provide credit counseling for individuals. It does, however, provide consumers with a list of government-approved...

What Are the Conditions for Student Loans?

When borrowing money for college or any other further education, many students fund their studies by taking advantage of federal student loans. These loans have a range of conditions such as interest rates, grace periods and conditions during repayment. The specific conditions associated with these student loans depend on the loan package the student is receiving. Loan Conditions The conditions set out for federal student loans depends on...

Tuesday, January 27, 2009

Definition of a Personal Consumer Loan

A consumer loan, commonly referred to as a personal loan, is a loan that establishes consumer credit and is usually granted in either a secured or unsecured manner. It is granted based on a consumer's integrity and ability to repay the loan. Uses Loans are taken out for a variety of different reasons including: education, medical expenses, vacation, and repairs. Co-signor If you do not have the necessary credit, or the necessary income...

Sunday, January 25, 2009

Credit Card Debt Modification

You can make modifications to your credit card account through negotiation. You can handle the negotiations or enlist the services of a nonprofit credit counselor certified by the U.S. government. People seeking modifications of their credit card accounts often want to control excessive debt. A job loss, illness or runaway spending may have led to credit card accounts charged to their limits as interest rates increased. Fortunately, there are ways to get the situation under control through modification and payment plans. Credit Counseling ...

Saturday, January 24, 2009

Does Filing Chapter 7 Stop a Judgment?

Chapter 7 bankruptcy is one of simplest forms of bankruptcy, and it is also one of the most powerful. Chapter 7 can stop a judgment, but it has even broader powers. Chapter 7 can completely eliminate the judgment and other secured debts in only a few months. Other forms of bankruptcy, such as Chapter 13, aren't nearly as fast, with Chapter 13 requiring a payment plan over three to five years, according to legal website Nolo.com. Automatic Stay Provision Chapter 7 and other forms of bankruptcy are designed to give people relief and protection...

How to Change the Name on an IRS Bank Levy

The IRS places levies on bank accounts when an outstanding tax bill has not been addressed. It is possible to have the levy placed on your account incorrectly. This might happen when a couple marries, but one party had an outstanding IRS debt before the marriage. When the levy is imposed, it might be placed on all joint accounts. Getting your name removed from the levy requires diligent documentation that you are not the responsible party. Instructions 1 Obtain a copy of the levy served on the bank and other financial institutions to confirm...

Friday, January 23, 2009

Does Being Over the Credit Limit Hurt Your Credit Score?

Carrying a credit card balance that exceeds your credit limit hurts your credit score. It suggests you are having financial problems, especially if several of your accounts are maxed out. Your credit score will suffer each month as accounts continue to report as over the limit. Other creditors will see this if you apply for new credit, making approval difficult or even impossible, even in an emergency. Considerations Maxed-out credit cards are a huge drag on your credit score, although no one can say exactly how much they hurt. Individual...

Thursday, January 22, 2009

8 Smart & Easy Debt Reduction Tips

Debt reduction requires determination, a realistic plan and possibly a willingness to get by with less for a while. The payoff is a more stable financial profile and less of your money going towards carrying costs every month. Simple habits maintained over time can add up to reformed spending patterns and continuing reduction of your debt. Reduce Impulse Spending Many debts are related to spending habits that are unplanned and impulsive....

Is Bankruptcy or Debt Settlement the Best Route to Go?

Choosing between bankruptcy and debt settlement is deeply personal and the answer isn't the same for everybody. For example, a 19-year-old college student who racks up significant credit card debt could file for bankruptcy and start recovering in just months---with the bankruptcy erased from credit reports before the age of 30. Meanwhile, a 45-year-old homemaker with excessive debt may choose debt settlement, rather than commit to a Chapter 13 bankruptcy, which requires three to five years to finish. Settlement Credit cards and other secured...

Why Do Credit Reports Vary by Type?

The variations among credit reports are partly due to the way that consumer credit information is collected. Furthermore, creditors and lenders report information about their customers' accounts to credit bureaus on a voluntary basis. Creditors and lenders are only required to report accurate information about their customers' accounts, but when and if they report that data is up to them. Account Activity The national credit reporting companies are Equifax, Experian and TransUnion. Auto lenders, credit card issuers, mortgage lenders and...

Wednesday, January 21, 2009

How to Report a Private Loan to Credit Bureaus

Consumers should know what private loans are, where you can apply, and the ways you can have a private loan reported to credit bureaus. One may choose to have any loan reported a credit agency, all you need to do is request that this be done. Instructions 1 Private loans describe a loan taken out from a private source such as a bank or investor. Some consumers may choose a private loan over a government educational loan. 2 Request an application at your bank or online from one of the many companies offering private loans. Some of...

Can a Credit Card Debt Be Collected From a Retired Person in the State of New York?

When a person takes on a credit card debt, he is legally obligated to pay it back, just as he would any other kind of debt. The rules by which he must pay this debt back will vary depending on both the wording of the credit card contract and the laws of the state. In New York, retirees must pay back credit card debts, but creditors cannot seize certain types of income from them. Credit Card Debt A credit card debt is a loan drawn against a line of credit. If a person fails to pay back the loan under the terms of the contract, the credit...

Tuesday, January 20, 2009

Arkansas Credit Card Debt Statute of Limitations

If a credit card company or debt collector contacts you about paying an old credit card debt, double-check the date on which the debt went into default. In Arkansas, as in other states, the statute of limitations may protect you from your creditors getting a court judgment against you. However, your credit remains affected by the default even after the Arkansas' statute of limitations expires. Statute of Limitations Definition A statute of...

Am I Responsible for My Deceased Husband's Debts?

Handling the debts of a deceased spouse can be tricky. A few accounts, such as federally governed employer-sponsored retirement plans, 401k plans, 403b plans and traditional benefits plans are covered by federal law. Any other debts and assets, however, are covered by state law and every state handles debt incurred by a deceased spouse differently. A spouse's responsibility for the deceased's debt is determined by the state in which they were living...

Monday, January 19, 2009

Can the Bank Charge Off My Mortgage?

A bank can list your mortgage loan as charged off if you stop making payments. A charge-off is an internal accounting term used to describe a bad debt. However, the charge-off does not end your financial obligation for the mortgage loan. After listing your mortgage as charged off, the lender likely will begin foreclosure proceedings, if it has not already done so. Ramifications A charged off mortgage is serious, because it means the mortgage company has given up trying to collect from you. The charge-off permanently closes the account,...

Definition of a Debt to Credit Ratio

Your credit situation may be mystifying if you don't understand the terminology used in the literature and by finance professionals; however, the term "debt to credit ratio" actually means what it says. Lenders and creditors look at how much debt you have, and compare it to how much room you've left yourself before you reach your account limits, and use this ratio to assess how much of a credit risk you are. Definition Your debt to credit ratio is how much you owe in proportion to how much credit you have available for use. For example,...

What Should My Credit Score Be to Refinance?

When consumers refinance a loan, typically either a mortgage or a car loan, they use a new loan to pay off the old one. They do this because the new loan offers better interest rates and, in turn, lower monthly payments than their old loan. When applying for a refinancing loan, you need to make sure your credit score is as good as it can be or you may not be able to get approved. FICO Score While each creditor has its own process for determining...

How to Deal With a Civil Summons With Asset Acceptance

Asset Acceptance is a limited liability corporation that specializes in debt collection. The company purchases old debts from retailers, credit-card companies, utilities and other creditors. Asset Acceptance, like any collection agency, will pursue any lead to find you, contact you and notify you of your debt. The company will pursue debtors through the courts to collect money if necessary in order to collect the money and make a profit. Always defend...

How to Access a Retail Services Credit Account

Retail services credit accounts are lines of credit extended specifically for the purpose of purchasing one item, at one specific retailer. Other credit cards allow for purchases at thousands of retailers, but retail services accounts are designed to drive business into one store. Accessing these accounts is normally simple. Instructions How to Access a Retail Services Credit Account 1 Determine the bank financing the purchases on the account. Most retail services accounts are affiliates of larger lending institutions (HSBC and Citi are...

Sunday, January 18, 2009

Is Student Loan Money Exempt During Bankruptcy?

Student loan money follows a different guideline than other debt when it comes to bankruptcy. These loans will not be discharged or forgiven during bankruptcy. The government backs federal loans and requires you to make payments on them. Private student loans now have the same protection when you file bankruptcy. If student loans are the reason you are declaring bankruptcy, you will need to look for another option. Student Loans and Bankruptcy Student loans are protected during a bankruptcy. This means that you will rarely be approved for...

Saturday, January 17, 2009

How Can I Stop Creditors From Calling If I Am in the Process of Filing Bankruptcy?

Once you file for bankruptcy, creditors are obligated under the law to cease their attempts to collect on your debts. Normally, creditors will stop their attempts to collect once this happens, because if they fail to do so, they violate the federal Fair Debt Collection Practices Act, which can result in the debts becoming invalid. However, you must inform your creditors of your bankruptcy filing promptly to enjoy the protections of the law. Instructions...

Friday, January 16, 2009

How to Rotate Consumer Debt

When it comes to owing debt, high interest rates on debt can be frustrating. The higher the interest rate, the more money goes into the lender's pockets instead of paying down the principal balance. This makes the lender more money, and keeps you in debt for a longer period of time. By moving debt from one lender to another, you may be able to reduce the interest that is owed on that debt. Here are some tips on how to rotate your consumer debt. ...

Pennsylvania Statute of Limitations for Collection of Utility Bills

Utility bills are a necessary evil when owning a home or renting property. Paying these bills on time can help your credit, keep the lights on and the water running. Failing to pay utility bills on time can hurt your credit and cause the shut-off corresponding utilities. The statute of limitations for utility bill collection in Pennsylvania provides a specific time period for companies to pursue utility customers for debts. Utility Debt Status Pennsylvania considers utility bills as written contracts for debt collection purposes. A written...

Does Florida Have a Requirement for a Repayment Plan in State Law for Payday Loans?

With payday loans, a borrower writes a postdated check to a payday lender in exchange for a short-term cash advance. Florida sets strict fee limits on payday loans and prevents borrowers from having more than one outstanding loan at a time. In addition, Florida lenders may not rollover a payday loan, a process which involves extending longer payment terms to loan customers. Instead, borrowers who cannot pay back their payday loan at the end of the loan period can opt to participate in a state-approved repayment plan. Notification Under...

Thursday, January 15, 2009

The Best Ways to Pay Off a Credit Card

Credit cards can be a reliable way to manipulate cash flow, and they're more convenient to use than cash. However, credit cards are not free money. The debt acquired on the card has to be paid back, and you can do that by following a few straightforward principles. Minimum Balances Pay more than the minimum balance due each month. Paying only the minimum balance lengthens the amount of time needed to pay off the debt and puts most of your payments toward interest instead of principle. Consequently, you will pay more to the company than...

Wednesday, January 14, 2009

How to Find and Use the Best Secured Credit Card

If you have moderate to severely damaged credit, finding the best secured credit card is one important way to rebuild your credit. A secured credit card is a card that is backed by a deposit. Instructions 1 Validate that the credit card company reports to all three credit bureaus. Otherwise, you are just wasting your time. The only reason to even have this type of credit card is to rebuild your credit. 2 Search for secured credit cards...

What to Expect From a Debt Settlement Company

Debt settlement services work with people who have a considerable amount of unsecured debt and either do not have the means to pay at their current rates or are likely to have problems paying in the future. Unlike credit counselors or debt management programs, settlement companies attempt to settle your debt, promising you savings. This may cost more than you had planned, however. Debt Consolidation When you enlist a debt settlement company to help solve your debt problems, you will consolidate your debt into a single account for a lower...

Tuesday, January 13, 2009

Can Bank Accounts Be Garnished?

When you have to deal with a creditor to repay an outstanding debt, you may face the possibility of having money taken directly out of your bank account. When this happens to you, it can quickly deplete any savings that you may have built up in your account. Garnishment vs. Levy A garnishment is a process by which creditors take money out of your paycheck before it goes to you. A levy is a process that involves taking assets from you. This can occur by physically taking assets from your home or by taking money out of your bank account,...

How to Fight a Collection Agency Without Hurting a Credit Score

Debt collection agencies work with creditors to collect unpaid balances. An agency may call or write and threaten to sue you in court for a debt. Going to court and receiving a guilty verdict can result in a credit judgment on your credit record. However, if you don't owe the collection agency money, you can fight back and avoid possible credit damage from a lawsuit. Instructions 1 Review bank records to show evidence that you don't owe a debt. Collection agencies may attempt to collect on a balance that you've already paid. Visit your bank...

Sunday, January 11, 2009

How to Avoid Wage Garnishment (Legally)

Wage garnishment is done to satisfy debts with creditors, pay taxes to the IRS or to the State and in child support cases. Before anyone can garnish your wages, a court has to authorize the process. The court sends a notification of wage garnishment to you and to your employer once a decision is reached. People try to avoid a history of wage garnishment because it may raise red flags with future creditors. These are some ideas on how to legally...

Saturday, January 10, 2009

How to Reduce & Consolidate Credit Card Payments

Reducing and consolidating your credit card debt requires a level of responsibility with spending that many people find difficult to master. All too often, consumers find themselves finally paying off debt only to have some emergency arise which completely reverses all progress made with eliminating their credit debt. For this reason, it is vitally important to properly budget how much is used to pay off credit debt and still leave enough cash to...

How to Pay Off Debt in 12 Months

Being debt free is an admirable goal and one many people hope to achieve. Whether you have credit card debt, student loan debt, car loan debt or other obligations, paying off the last of your debt can be one of your greatest financial achievements. If you set a goal for yourself to pay off debt within 12 months, you can get there even faster. Instructions 1 Determine the total amount needed to pay off all your debt. You can do this by adding...

Friday, January 9, 2009

Debt Collection Advice in Illinois

The Fair Debt Collection Practices Act and the Illinois Collection Agency Act give you the right to be treated fairly as debt collectors attempt to collect money from you in Illinois. Legal Proof The Illinois attorney general's website says you have the right to dispute a debt, in writing, after first being contacted by a debt collector. After receiving your letter, the debt collector cannot continue collection efforts until proving he is...

How Much Should I Pay on My Debt Monthly?

Deciding how much to pay on your debt is an important question that many people struggle with. Get a grasp on your debt, realize that it can be crushing in many ways, and understand that the sooner you can get rid of it, the better off you'll be. Types of Debt There are different types of debt, and you need to consider which debt you are paying on. Some people prefer to have no debt at all; this is not necessarily a bad thing, as debt can weigh you down. However, some financial experts say there is such a thing as good debt. Good debt is...

Principles of Debit & Credit

Debit and credit are very common terms in accounting, and continue to be important throughout all levels of the accounting industry. For those unacquainted with the terms they can be complex concepts. Credit and debit can seem interchangeable because of the way both can increase and decrease money in accounts, but they operate based on a clear set of accounting principles. Debit Actions In accounting terminology, money is credited and debited to specific accounts, not to the business itself. To say that a business was "credited" money it...

How to Deal With Collection Companies

When debts fall past due 180 days a creditor will usually forward them to a collection agency, also know as third party debt collectors, for further collection activity. Some collection agencies abide by the rules and some don't. According to MoneyCentral.com, consumers reported threatening and harassing phone calls made during times which are prohibited by collection agencies. There are, however, ways to stop overly aggressive collection agencies in their attempts to collect a debt. Instructions 1 Study the Fair Debt Collection Practices...