How to Get Off a Cosigned Loan

A loan contract is a legally binding agreement. If either you, as cosigner, the borrower or the lender breaks the terms of the agreement, the other party can sue. Therefore, once you sign up to be a cosigner on someone else's loan, you are normally on the hook for the life of the loan. In some rare cases you can remove yourself from the obligation, but it is difficult. Instructions 1 Calculate the payoff figure on the loan. The easiest way...

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How to Get Bank of America Foreclosure Help

Because of the recent recession, Bank of America, like other national lenders, offers several private and government foreclosure prevention programs to customers who are unable to repay their loans and risk losing their homes to foreclosure. Homeowners who are in the midst of a pending foreclosure sale may be able to modify their home loans under the federal Making Home Affordable Modification Program, or HAMP. Homeowners qualify under the HAMP program,...

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Credit Card Debt Judgement Help

If you have a credit card that you have not been keeping up with your payments, it is typically only a matter of time before the credit card company sends your account to collections. Eventually, the credit card company can get a judgment against you to collect the debt. If you are faced with a credit card judgment, it can be a difficult time, but there are ways to deal with it. Credit Card Judgment Typically, the process of getting a judgment takes some time on the part of the credit card company. They will first turn your account over...

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Can the Head of Household Be Garnished in Florida?

In addition to earning federal Earned Income Tax Credit eligibility, claiming head of household in Florida comes with the added benefit of wage and bank account garnishment exemptions. Under Florida law, the head of household's disposable income, the amount left after federal, state and local taxes, is wholly or partially exempt from garnishment. However, circumstances do exist where even the head of household exemption will not protect you from...

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How to Adjust Debt

Certain situations will determine if you need to adjust your debt. If you are experiencing a financial hardship or you have too much debt to manage, adjusting your debt could help solve your problems. Debt adjustment means you are changing the term and conditions of the original contract. Adjusting your debt may consist of changing the interest rate. Many types of debt can be adjusted including an automobile loan, mortgage, credit card and personal...

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How Do Debt Consolidation Loans Work?

What Debt Consolidation Does Debt consolidation takes into account all of your debt with the exception of your mortgage. This can be credit cards, car loans or personal loans. You may have bought furniture on credit or a boat or camper. You can take all of these loans and combine them into one, with a lower interest rate than you are paying on each one separately and usually for a longer term, creating one lower payment. You can put all or some of the loans into a debt consolidation loan. There are times when it doesn't make sense to put...

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Can Anybody Garnish Lump Sums From Social Security?

Social Security payments go to elderly and disabled people, many of whom have no other sources of income. The government gives Social Security income special treatment, recognizing that many recipients depend on it to keep them fed and housed. As a result, the Social Security Act limits garnishment of Social Security income to only a few circumstances. Garnishment Creditors can use garnishment as a last resort measure in collecting debts. Creditors ask a judge for a court order for garnishment, and the sheriff then delivers the order to...

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How Long Do Debts Remain on Your Credit Reports?

Your credit report serves as a record of your financial history for potential lenders and creditors. Debts will remain on your credit record for years after they are paid off to demonstrate your ability to manage money and what level of lending risk you may present to a creditor. The Facts A debt can have either a positive or negative effect on your credit rating. Debts that have gone delinquent or demonstrate a history of late payments will negatively impact your score. Debts that have a positive payment history and a low balance, however,...

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How to Redeposit a Bounced Check

If you receive a nonsufficient funds (NSF) notice from your bank for a check you either wrote or received, it means that the bank refuses to honor the check because the issuing party's bank account does not have sufficient funds to cover the payment. Checks written from accounts with insufficient covering funds "bounce." The process for redepositing a bounced check depends on the banks involved, and usually incurs costs to the recipient of between...

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Inaccurate Credit Report Information

In 2010, credit reports are used by a variety of industries as decision-making tools. In the workplace, having substantial debt can prevent you from getting a job or even a promotion. The banking industry uses credit reports to set interest rates on loans and may deny you a bank account if your credit is poor. Insurance companies use them to set your rates to counter the potential that your debt may result in fraudulent claims. Types Credit reporting agencies use four broad areas to predict future credit performance; payment history, consumer...

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Can I Be Reported to the Credit Bureaus for the Same Debt by Different Collection Agencies?

If you owe a debt, the original issuer of the debt may sell it to a collection agency. If the debt remains unresolved for several months or years, the account remains open and a string of collection agencies may purchase the debt from one another. If this occurs, you may find that the debt appears on your credit report more than once, but you can take steps to have the multiple listings removed. Duplicate Debts Several situations can cause...

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Use a Credit Card to Buy a Car From a Dealership

Ever since the financial crisis of 2008, credit cards have been looked at as the devil. However, for a chosen few, there may still be some benefits to buying a car with a credit card. If you have the credit available, you are disciplined about making payments over your minimum and your interest rate is lower than what you're being offered by car loan companies, you may want to seriously consider this strategy. Instructions 1 Call your credit card company to verify your available balance. Once you know how much money you have available on...

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What Does Judgement Debtor Mean?

The legal field is notorious for using archaic and strange-sounding words and terminology. "Judgment debtor" sounds overly serious. In truth, it refers to a defendant who has been ordered to pay a creditor by the court but has failed to do so. The implications of being a judgment debtor can be serious; however; a creditor may be able to garnish a judgment debtor's wages to satisfy a debt. Judgment Debtor A person does not automatically become a judgment debtor. That title is reserved to describe a person who owes a debt to a creditor and...

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What are the Benefits of a UBL Wiz Prepaid Visa Debit Card?

The Wiz Prepaid VISA Debit Card is offered by United Bank Limited (UBL) in the country of Pakistan. The card is the first of its kind to be available in the country, and offers significant advantages over both cash and traditional credit card options. The UBL Debit Card offers cardholders convenience and security in an easy-to-budget service. Budgeting The UBL Wiz debit card allows the cardholder to deposit or "load" only the exact amount...

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Collection Laws on Calling a Workplace

A debt collector who calls a consumer's place of employment can cause embarrassment and annoyance to the consumer. More importantly, repeated calls to a place of employment may cause a consumer's work to suffer and could result in the consumer losing her job. However, the Fair Debt Collections Practices Act allows a consumer to act to stop debt collectors from calling her workplace. Workplace Calls Under the Fair Debt Collection Practices Act, a debt collector can call a consumer at his place of employment unless the consumer informs the...

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The Best Way to Pay Off Past Due Items on My Credit Report

Your credit report says a lot about you. It provides a history of your credit payments, where you've lived and even legal information regarding bankruptcy and other financial hardships. Lenders, insurance agents and possible employers will look at your credit report to get an idea of what type of consumer you are and how responsible you are with credit. Having past due items on your report can lower your credit score and make it difficult for you...

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What Is Debt to Income?

To experience the American dream of owning your own home, you must first put yourself in a solid financial position. Many know the importance of having a high credit rating when seeking credit, but lenders often value a respectable debt-to-income ratio over many other factors of credit worthiness. Your debt-to-income ratio provides a snapshot of your current financial situation. Knowing your debt-to-income ratio and improving it could be the ticket to getting the loan you need or securing a lower interest rate. Lenders only care about whether you...

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How to Protect a 401K Under California Bankruptcy Law

Filing for bankruptcy in the state of California wipes your credit slate clean from credit card debt, personal loans and medical bills. Before you get to the point of filing bankruptcy, you have probably had a slew of calls from creditors threatening leans on any and all assets including retirement plans. The fact is that in bankruptcy, the federal and state governments realize that an individual must have a certain set of assets available to move forward; your retirement assets are one of them. Instructions 1 Hire a bankruptcy attorney....

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Is It Easy for a Collection Company to Garinsh Wages for a Small Amount?

Many people responsibly try to use debt reduction and elimination methods such as refinancing and settlement to get back on their feet financially, but not everyone who does this is successful. Other people purposely avoid their debts. As a result, collection agencies sometimes have to use wage garnishment to get the money people owe. The amount you owe has little bearing on how easy it is for the collection agency to rectify your debt through your...

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How to Get Debt Under Control

Getting debt under control helps you regain control of your personal finances. Carrying excess debt harms your credit score and often increases your debt-to-income ratio. This increase affects buying power when financing a car or mortgage. But with self-control, you can get debt under control. The key is learning how to live on less and fighting the urge for instant gratification. Instructions 1 Develop a plan and determine how much you need to earn, recommends Bankrate. Paying bills without establishing a payoff goal is not efficient....

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How to Get Late Charges Off Credit Reports

A person's credit score is a rating of her creditworthiness, based on information collected by credit reporting agencies. This information appears in a file called a credit report, and provides a measurement of the likelihood that an individual will pay back a loan. When a person pays a debt late, the creditor will often notify a credit reporting agency. This late payment will lower the individual's credit score. A lower score generally requires a borrower to pay higher interest rates on loans. Fortunately, it's possible to remove these late charges....

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Non-Bankruptcy Options for Debt Relief With No Income

Carrying substantial debt is stressful for anyone, and having no income can make the feeling of helplessness even worse. Bankruptcy proceedings are not only lengthy and emotionally tumultuous but also expensive; it costs about $300 to file and even more to pay a lawyer. Without an income, such expenses may be beyond your reach. The silver lining is that if you really have no income or assets, the process of bankruptcy may be unnecessary to achieve...

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Credit Report Laws on Late Payments

A late payment entry on your credit report harms your credit history and score. Late payment entries are negative citations from your creditor shown on your credit report for an account you did not pay on time. The Fair Credit Report Act, a set of federal laws regarding credit reporting practices, dictates how credit bureaus report late payments. Function The Fair Credit Reporting Act governs the way credit bureaus report all information on your credit report, including how long negative accounts and past due payments can be shown. Consumers...

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How to Talk to a Credit Card Company

The response you get from a phone representative at a credit card company has a lot to do with why you're calling and what the status of your account it. More importantly, however, is the manner in which you speak to the representative. This is definitely one scenario where the old saying, "You catch more flies with sugar than vinegar" is true. Remain calm and pleasant and you'll probably receive the same tone back from the credit card representative....

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Online Debt Advice

The Internet is a valuable resource for research, but oftentimes it's difficult to tell the good information from the bad, particularly when it comes to advice about how to deal with your debt. Frustrated by conflicting information, sales pitches and schemes, you may end up going around in circles. However, a few legitimate resources exist to help point you in the right direction to begin digging yourself out of debt legally. By starting off your...

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How to Change a False Credit Report

Your credit report is a critical part of maintaining your financial integrity. Verifying that the information in your report is accurate and factual is an important step in making sure that you're able to take advantage of the best interest rates on mortgages, automobile loans, credit cards and private loans. If you find that information contained in your credit report is false, you can file a simple dispute with the credit bureau through the mail or on the Internet. The process is simple and straightforward, and in most cases it can be done in...

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How to Find Outstanding Debt

Your credit report is the best resource for tracking down most of your outstanding debt. Virtually all of your standard credit card and loan information will be listed on your report, including your payment history and current balance. Tracking down your outstanding debt may be necessary if you are considering eliminating your debt through bankruptcy or you have experienced a financial windfall and want to pay off as much as your debt as possible....

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How to find Grants for Debt

Grants can bring you relief from debt. Before taking drastic measures like filing for bankruptcy, consider applying for debt relief through the government, which is coming to the aid of thousands of Americans through various kinds of grants. Pinpointing all the grants available to you will involve some research and paperwork, but the end result may help ease your burdensome debt. Instructions How to Find Grants for Debt 1 Assess your debt...

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Does Paying Off Old Debt Help Your Credit?

About 43 percent of Americans spent more than they made in 2004, according to the MSN website, and the average American family had about $8,000 in credit card debt that year. Other debts include student loans or personal loans from banks or individuals. "Old" debt typically refers to charged off debts, which are debts not paid before being written off by the creditor and often sent to collection agencies. The charged off debt appears on your credit report twice: The original debt to the creditor and the new charged off debt to the collection agency...

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How to Deal With Delinquent Credit Card Accounts

If you carry multiple credit cards, or if you're having trouble making ends meet, it can be easy to fall behind on your credit card payments. Delinquent credit card accounts can have a serious impact on your credit, making it more difficult to secure credit in the future. Being proactive in dealing with your past due credit accounts can help you to get out of the hole and simultaneously protect your credit score. Instructions 1 Call your credit card company if you're behind on your payments, or even if you're in danger of falling behind....

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The Effects of Credit Score Investigations on Your Status

A person's credit report can be checked by many different parties beyond simply lenders. While a credit score is not public information, individuals and organizations with a valid interest in the score, such as prospective employers and landlords, may review it. However, like the old scientific axiom says, "You can't observe a system without changing it," some of these investigations will in fact shift an individual's score, generally moving it down a few points. "Soft" Inquiries There are two main kinds of credit report inquiries: hard...

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Medical Debt Laws

Medical debts are unsecured debts and are treated as other unsecured debts, such as credit cards. Medical debts, especially for the uninsured can be extremely large, and can lead to extreme financial difficulties. The Fair Debt Collection Practices Act governs the behavior of debt collectors as they try to recover medical debts. Bankruptcy Federal law allows you to address medical debt through bankruptcy. Chapter 7 bankruptcy allows you to...

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Claims of Exemption on Wage Garnishment Laws in California

If a debtor doesn't pay back his debts, the creditor can take him to court. After winning a judgment, the creditor can ask the court to garnish the debtor's wages or require the debtor's employer to withhold a certain amount of wages each pay period to repay the debt. California law allows the debtor to request an exemption from wage garnishment if he needs his entire paycheck to support himself and his family. Limitations on Garnishment California adheres to federal limitations on wage garnishment. Creditors may not garnish more than the...

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How to Make Creditors Erase Debt

Creditors are obligated to provide accurate information to the credit bureaus under the Fair Credit Reporting Act (FCRA). Those creditors, however, are not required to actually report that information. This makes it possible for debtors to erase negative entries from their credit report by coming to negotiated settlements with their creditors. Although there are professional credit repair services, it's entirely possible for the average person to successfully conduct debt settlements. Instructions 1 Organize and make copies of all documentation...

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Credit Cards and Bad Credit Programs

If you have bad credit, you usually face difficulties trying to obtain loans, including credit cards. If you use credit cards wisely and make your payments on time, credit cards can help you build credit. Acquire a secured credit card and use it as part of your bad credit program. Features If your credit score is poor, lenders see you as a risky borrower. A regular credit card is usually unsecured, which means that the holder doesn't provide...

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How Do I Get My Credit Card Company to Forgive Half My Balance?

The weight of overdue and rapidly climbing credit card balances can overwhelm even the strongest constitution. When a credit card becomes overdue, late payment penalties and escalating interest can make a bill once difficult to pay, now impossible. While the outlook may appear bleak, there is something you can do: have the bill reduced. Most credit card companies will work with a financially burdened customer, so the answer to "How do I get my credit card company to forgive half my balance" becomes "Just Ask!" Evaluate Evaluate the situation....

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How Much Can You Save on Debt With Credit Counseling?

When it comes to finding out how much a person can save on debt with credit counseling, there's no one definitive answer. Each individual case has variables that make it unique. One client might have gone into debt because of poor money skills, while another might have suffered a medical setback. However, regardless of the circumstances, credit counselors assist in lowering debt with a variety of tools. Budgeting Credit counselors often provide...

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