How to Get Help With a Credit Card Judgment With a Debt Collector

The best way to get assistance for dealing with a judgement against you for a delinquent credit card is to contact a debt settlement or bankruptcy attorney. Working with such professionals is not the only way to defend yourself from a credit card judgment, but it's the most effective method for getting expert advice. If you hire a lawyer, he's obligated to act in your best interests. Instructions 1 Avoid working with companies that offer you relief from credit card judgments. Unless you hire a lawyer, you run the risk of having your finances...

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How to Get a Line of Credit With Bad Credit

There are times in life when a line of credit is critical. Whether you must pay emergency medical treatments or car repairs, a line of credit can help you. But for many people, low credit scores prevent lenders from extending credit to them. Fortunately, there are other options available. Instructions 1 Request a free credit report to check your credit score. Review debts to find any mistakes that could decrease your ability to get a line...

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How Can I Get Credit to Buy My First Home?

Getting credit to buy your first home can prove challenging if you aren't prepared for the process. Mortgage loan approvals require completing an application with a lender, and then waiting for a lender to review your application to determine eligibility. Knowing common lender requirements before beginning the process can help ensure a quick approval. Instructions 1 Build your credit score. Develop a habit of always paying present creditors on time to help build the best credit score possible and qualify for the lowest mortgage rate. Getting...

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Can Creditors Legally Call You at Work?

Owing a creditor or debt collection agency money can begin a cycle of endless telephone calls and debt collection letters. Creditors may call your home, cellular phone and place of business. However, you have the right to place limits on where a creditor or debt collector can call you. Personal Information When completing an application for a credit card or loan, you likely revealed personal information about yourself, such as your address, home telephone number, employer name and work number. Creditors keep this information on file, and...

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Personal Information in Debt Management Programs

Borrowers may find it difficult to trust consumer counseling agencies, as they can seem too good to be true. Revealing personal, potentially embarrassing details to a stranger on the telephone or in person may feel wrong. Nevertheless, it's part of the debt management process and a necessary evil. The information you provide is totally confidential, and won't be shared with anyone but your creditors, who probably know it anyway. What You Supply...

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Emergency Financial Help for Disabled Americans

A disability can happen to you or your loved ones when you least expect it and at any age. It could be from an accident, an illness, or depression--which can also be debilitating. Every state in the U.S. has provisions--knowing exactly where to go for assistance can be a blessing. If you find yourself disabled temporarily or for the long term, emergency financial assistance is available to help you get back on your feet. Apply for emergency...

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Comparison of Debt Reduction Options

Many people feel like they are drowning in their debt, and while there's no magic spell to eliminate debt, with some research, legwork and commitment, you have the ability to dig yourself out. It's vital to understand your options so that you don't waste time and energy going down paths that are inappropriate for your financial situation. Debt Consolidation You may be able to reduce your debt more quickly by using a debt consolidation loan....

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The Best Ways to Consolidate Debt

Consolidating debt involves taking out one loan with the intent to pay off multiple debts. People consolidate debts for two distinct reasons: either to lower their monthly payment or to lower their long-term interest payments. When you consolidate to lower your payments, you usually end up paying back more in the long run because you stretch out your payment schedule. Consolidating Debt Using Credit Card Balance Transfers Consolidating debt using a credit-card balance transfer is a popular option for debt consolidation. Credit card companies...

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What is Clean Sweep Debt Consolidation?

Clean Sweep Debt Consolidation was a program offered by Bank of America in 2008 and 2009. Under the program, consumers qualified for a variable-rate loan of up to $50,000. The program was marketed as a way to pay off high-interest debt. As of 2010, Bank of America no longer offers Clean Sweep loans. How the Program Works Consumers were charged a 3% fee for advances, which made mutliple advances costly. Bank of America's Clean Sweep Debt...

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How to Evaluate Debt Consolidation Services

Debt consolidation is the bundling of outstanding debts into one consolidation loan. During the consolidation process, debt consolidators can reduce interest rates, eliminate late fees and lower minimum payments. Once you find a licensed credit counselor who specializes in debt consolidation, you can begin the debt consolidation process. Evaluate the debt consolidation company and the services it provides to be sure you are receiving the best consolidation loan. Instructions 1 Hire a licensed credit counselor. Most licensed and legally...

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How to Personalize My Visa Card

Visa cards, including credit cards, debit cards and gift cards, can be customized according to the preferences of the cardholder or the gift card provider. Depending on the kind of card you own and your bank, you can personalize your Visa card through various options. You can design your own your card layout, have your photo on the card for additional security or choose from personal expression templates offered by your bank, like a favorite sport...

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Companies That Monitor Your Credit for Identity Theft

Millions of Americans' identity is stolen every year. The theft may go unnoticed for months--enough time for serious financial damage. Once the breach is discovered, it can take hundreds of hours and dollars to restore your creditworthiness and reputation. In some cases, it can take years to get everything straightened out. There are several companies that will, for a fee, monitor credit reports to guard against identity theft. myFICO Internet...

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Can I Claim Head of Household Hardship Against a Debt Collector in a Lawsuit?

Claiming a "head of household hardship" in a lawsuit with a debt collector may lead to a settlement or a payment plan. However, it cannot serve as a legal defense against the lawsuit. Appearing before a judge and claiming a head of household hardship as a defense will almost certainly lead to an easy victory for the debt collector. Considerations Debt collectors file lawsuits to collect unpaid debt. The tactic is common in credit card cases, although lawsuits are also possible for credit obligations stemming from automobile repossession,...

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The Best Ways to Prevent Fraud & Identity Theft

Anyone can become a victim of identity theft or fraud, which involves another person acquiring sensitive information about you (such as your name, address, SSN or account numbers), and then taking this information and opening accounts in your name. Prevention plays a key role: you can best stop fraud by safeguarding your personal information. Account Statements Always know the location of your account statements at all times if you want to...

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Customary Business Practices for Turning a Debt Over to a Collection Agency

Major creditors, such as hospitals, banks and credit card companies, juggle a multitude of responsibilities. Because most creditors are for-profit companies, its imperative that they manage consumer accounts as efficiently as possible with as little effort as possible. Creditors possess neither the time nor the inclination to chase debtors around indefinitely demanding payment. When a creditor's collection efforts fail, it has the option to hire collection agencies for assistance in recovering non-performing accounts. Time Frame Creditors...

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How to Collect on an Unsecured Debt in Michigan

An unsecured debt is an account in which the lender did not require you to have collateral or security, such as an automobile or a home, as a condition of the loan. Unsecured debts are also known as signature loans. If you are collecting an unsecured debt in the state of Michigan, you must abide by the Fair Debt Collection Practices Act. You must also be aware of the statute of limitations. Once the statute passes, your ability to collect on that debt is limited. Instructions 1 Send letters and make phone calls. One of the best ways to collect...

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Can a Credit Card Sue a Customer for Not Paying?

If you owe a balance on credit card debt and do not make your minimum monthly payment on time, your creditor will likely contact you by telephone or letter in an attempt to resolve the past due balance. Once your account becomes 30 days past-due, it may also report you to the credit bureaus, which can affect your ability to obtain future credit. However, if you do not bring your account current, the credit card company may choose to sue you for the balance. Lawsuit Process Because suing a debtor is expensive, credit card companies typically...

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How Much Can a Credit Card Garnish My Wages?

If you default on your credit-card payment agreement, the creditor can take measures to collect the unpaid debt. In some cases, it sells the debt to a debt-collection agency or hires an attorney to collect it. Sometimes, the creditor uses a collection agency, which acts as its agent. A creditor or debt collector can garnish wages for a credit-card debt if the state that you are paid in allows wage garnishments. Federal and state laws restrict the amount that can be withheld from your wages. Process Most states allow wage garnishments for...

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How to Get Approved for a Credit Card With Bad Credit in Canada

One way to improve a bad credit score is to begin rebuilding it by getting a credit card and making monthly payments on time. However, when you already have bad credit, it can seem nearly impossible to get approved for a credit card in Canada. Don't despair. There are several companies that are willing and ready to help you improve your credit by offering you a line of credit in Canada. There are limitations and fees associated with these cards, but they are a great way to get your financial life back in order. Instructions 1 Check your...

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Debt Free Alternatives

Many people feel that debt is a natural part of life, and that there are types of debt, which are unavoidable. However you can choose to have a debt free life by making wise financial decisions and choosing to wait to make purchases until you have the cash to do it. Choose to be debt free may mean making sacrifices that will benefit you in the long run. Emergency Funds Instead of Credit Cards The first step to avoiding debt is to plan ahead...

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Debt Management Tools

Being mired in debt can be an overwhelming and stressful experience, and some consumers may be unsure about what debt management steps to take. Debt management tools, including self-assessment tests and financial inventories, can help people begin to better manage their debts. Financial Health Quizzes Financial health quizzes, such as the online quiz offered by Consumer Credit Counseling Services, can help people determine the state of their...

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Debt Reduction Education Programs

In this day and age, countless consumers find themselves in debt. Whether due to credit cards, loans or sheer mismanagement of personal finances, debt levels continue to grow. If you want to learn how to regain control of your debt, debt reduction education programs are available. Numerous programs are offered, but consumers should be sure to verify the program they use through the Better Business Bureau. Debt Reduction Services Federally...

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Can You Get a Credit Card Payment Reduced If You Lose Your Job?

If you find yourself losing your job, you have several ways to potentially reduce, consolidate or settle your credit card payments to make them more manageable. You should carefully review all of your options to determine the most appropriate resolution for your personal situation. Notify Your Creditor The first step is to notify your creditor. Negotiating an alternative payment arrangement can help you avoid a negative impact on your credit...

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How to Handle Credit Card Collectors

Credit card companies use in-house collectors and outside agencies for debt recovery. Collectors must adhere to the Fair Debt Collection Practices Act (FDCPA). This law prohibits collectors from using false statements, harassment, threats and unfair practices. Credit card collectors must provide written notification of any debt owed. Consumers have the right to dispute the debt and stop collectors from contacting them. The FDCPA also prohibits collectors...

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Fastest Way to Pay Off Debt

Paying off debt quickly requires minimizing new spending and ranking debts according to interest rates, when possible. In addition, to the extent possible, high-interest debt should be transferred to lower-rate accounts to minimize interest expenses and in turn ease the repayment process. Devote as Much Money to Repaying Debts as Possible Paying off debt begins with maximizing the amount of money available to pay them off. Although it is cliche, living within one's means is essential to closing debts. Similarly, the speed of repayment...

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Will a Debt Reduction Program Ruin Your Credit Score?

Debt reduction plans are plans that people can enter into to help eliminate large debts. One of the reasons that many people hesitate to get into this type of program is because they fear that doing so could damage their credit. The direct credit impact from this type of program may not be as negative as you think, depending on what type of program you get into. Function A company that specializes in debt reduction or debt management plans...

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Can I Request Debt Validation After a Wage Garnishment Has Started?

Debt validation is the process of proving that you owe money to a creditor or debt collector. You can request debt validation if you believe a creditor or collector is trying to claim money you do not owe. However, once a creditor or debt collector gets a wage garnishment order against you, debt validation usually isn't an option. The Fair Debt Collection Practices Act The Fair Debt Collection Practices Act is a law that dictates the conditions...

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Are IRAs in Illinois Exempt From Creditors?

If you owe money to creditors and you stop making payments, you may wonder which of your assets they can seize. Creditors can take possession of most types of property. Specific regulations pertaining to creditors differ by state, but, in Illinois, the money contained in your individual retirement account (IRA) typically is exempt from seizure for unpaid debt. About IRAs An IRA is an account an individual uses to save money for retirement....

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How Much Can a Creditor Collect for Garnishment in Pennsylvania?

Garnishment provides creditors with a collection method that does not depend on debtors submitting voluntary payments. Through garnishment, a creditor seizes funds from your wages or bank balances in order to satisfy your delinquent debt. Although federal regulations exist governing both wage and bank garnishment, Pennsylvania state law places even greater restrictions on creditors using this debt recovery method. Wage Garnishment Through wage garnishment, your creditor petitions the court to issue a writ of garnishment that the creditor...

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Advice About Getting Out of Debt

Although the process of getting out of debt is not necessarily fun because it requires that you live within your means, the reward is well worth the effort. When you are debt-free, you can use your income in the ways you want instead of being tied to your debt payments. Keep your eyes on the goal as you develop a plan to get out of debt. Face the Debts Being in denial about how much you really owe is not going to help you get in a position to get out of debt. Face your debts by making a list of every debt you have, from the mortgage down...

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How to Get Rid of a Default Judgment

Your finances can be severely affected if you have a default judgment filed against you. A simplistic definition of a default judgment is a judgment that has been issued by a court of law against a party who failed to either appear, take a pleading or follow other procedures. A default judgment will remain on your credit report for a minimum of 7 years; however. if the state that the judgment was filed in mandates a longer period of time, each renewal...

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How to Justify a Negative Credit Report to an Employer

A negative credit report can affect more than just your personal financial portfolio. It can also cost you a job opportunity, particularly if your job of choice places a high value on fiscal responsibility. However, because your credit report is personal in nature, there may be ways in which you can explain your situation and convince a potential employer to take a chance on you regardless of your financial history. Instructions 1 Read over your credit report before your sit-down with an employer. It is important to be educated about negative...

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How Long to Amortize a Loan?

The period of time over which a borrower pays back a loan is known as the amortization period. The amortization period is the amount of time it will take to repay the loan by making payments of principal (which reduces the balance) and interest (which the bank charges to lend the money). Amortization depends on the type and terms of the loan. Mortgages A mortgage loan provides financing for the purchase or refinance of real estate. Mortgages provide the most flexibility for amortization. The most common mortgage amortization terms offered...

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Complaints About Debt Consolidation

According to the U.S. Federal Reserve, outstanding consumer debt totaled out at $2.55 trillion in 2009. Debt consolidation agencies work to assist consumers by consolidating total debt owed. Consumer complaints made to state and local regulatory agencies point to fraudulent business practices and rampant money mismanagement within the debt consolidation industry. Misrepresentation Debt consolidation services attempt to reduce consumer debt by coordinating and renegotiating payments plans with creditors on behalf of consumers. Many agencies...

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How Do Creditors Find Your Bank Account?

Many states grant creditors the right to garnish bank accounts following a debt collection lawsuit. In order for your creditor to garnish funds held by your bank, however, it must know where you bank. Creditors have various methods for tracking down consumer bank accounts. Facts A creditor or collection agency doesn't have to have your exact bank account information to freeze and garnish funds from your bank. It merely needs to know the name...

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Tips for How to Build Credit Fast

A number of factors go into evaluating your credit worthiness. Many of these factors are affected by your length of credit history, or how long you have had credit. The more responsible you are with your credit, and the longer your history of responsible borrowing behavior, the better your credit will be. While there are a few tricks you can employ to help you build credit fast, the best thing you can do is learn how credit scores are determined and behave appropriately. How Credit Scores Are Determined Avoid behavior that will penalize...

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