Can You Get a Pell Grant for a Certification?

Pell Grants are among the several types of grants the federal government offers to college students. They are some of the most common grants issued, and they are typically given to students who have not yet earned a bachelors or professional degree. They provide access to higher education for many students who would not otherwise have the opportunity to attend college, and students who want to seek a certification instead of a bachelors degree and use a Pell Grant to pay for tuition may often do so. Amounts The amount of a Pell Grant students...

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Using Debit Vs. Credit on a Debit Card

Often when a person uses a debit card to make a purchase, the retailer will ask whether the person wishes to pay by debit or credit. This can evoke some confusion, as the person is drawing money from the same source, his checking account. However, while the money is coming from the same place, the method by which the money is withdrawn from his account will differ depending on his selection. Debit Cards Debit cards can be used to draw money out of a person's checking account. At automatic teller machines, debit cards can be used to withdraw...

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Is It Too Late to File for Unemployment If I Got Fired From My Job Over a Year Ago?

When you lose your job and have trouble finding a new one, you may be able to claim unemployment benefits in your state. Unemployment benefits are intended to provide temporary financial relief while you look for other employment. Each state offers unemployment benefits to workers who are no longer working. Even if it has been more than one year since you were employed, you may still be eligible for benefits. When to File Although you can file for benefits at any time, you should typically file for unemployment benefits as soon as you become...

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Relief for Getting Out of Debt

There is relief for getting out of debt and improving your personal finances. Debt can include huge credit card balances, medical bills and other outstanding loans. Little disposable income and spending uncontrollably can trigger debt problems. However, regardless of the reason for balances, you can find relief and pay down debt. Lateness Paying credit cards and other bills late will result in paying additional late fees. These late fees can quickly add up and significantly increase the balance on your account. Manage debt and get rid of...

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Help With School Debt

In 2009, the average college student graduated with $24,000 in debt, according to the "New York Times." Although these are typically low-interest loans, it can be a struggle to pay them off when just starting out, when laid off, or if you can't find quality employment. Fortunately, there are a number of sources for help with school debt. Loan Forgiveness Programs If you have federal student loans, you might have part or all of them forgiven...

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How to Pay Off Bills Without Bill Consolidation

You might be considering bill consolidation because you have a large number of debt payments every month. If you are like many people, you don't have a systematic plan to get out of debt and this lack of focus means you are probably trying to pay off too many of your debts at once. The debt-snowball technique, according to nationally syndicated financial commentator Dave Ramsey, offers a definitive plan of action for getting out of debt. Seeking...

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How to Negotiate Credit Card Debt After a Judgement

Paying a credit card debt after creditors report a judgment to the bureaus will not remove the judgment from your record. However, a paid judgment status on your report helps if you want to apply for a mortgage or other loan. Creditors are prepared to negotiate credit card debt, and sometimes, they will settle for less than the account balance. Instructions 1 Obtain your current balance. Creditors may charge additional interest and fees on delinquent accounts. Call your creditor to discuss your present balance. 2 Review your disposable...

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Letter of Credit Procedures

The Agreement A letter of credit is an agreement between four parties: a buyer, an issuing bank, a seller (beneficiary) and an advising bank. Letters of credit typically are used for large-scale purchases or service agreements between individuals or companies conducting business internationally. When a buyer agrees to purchase goods or services from a seller (beneficiary), the issuing bank creates a letter of credit that agrees to pay the seller upon the completion of the transaction. The advising banks acts in a consulting role to oversee...

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What Does it Mean to Default on Credit Card Debt?

You can default on your credit card debt if you don't comply with the contractual arrangement outlined in the terms and agreements. Some credit card companies will consider you to be in default at one stage of delinquency while other creditors will consider you to be in default a different stage. If you are past due on a loan or credit card, you should contact your creditors to avoid further action. Definition You are in default on a credit card when you fall past due. Whenever a debtor refuses to pay or cannot pay according to the terms...

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How to Raise Credit Score for Military Personnel

Military personnel face credit score challenges other members of society do not. Frequent home base relocations and temporary duty assignments potentially result in a large number of credit relationships and lackluster credit history as bills get lost in the mail or military personnel fail to close credit accounts properly. These challenges, combined with less-than-ideal financial diligence, can lead to artificially deflated credit scores for some...

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The Statute of Limitations on Debt Recovery in Missouri

Imagine receiving a notice to appear in court because someone filed a lawsuit against you, only to discover it is for a debt you don't even remember incurring --- not because you don't keep your debts organized, but because it's so old. As you look back through your personal files, you discover the debt occurred over 15 years ago and it seems unfair to have to face lawsuit now. Missouri puts a statute of limitations on debt recovery in place to avoid...

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Does a Home Loan Help Me to Consolidate My Debts?

Common debt consolidation options include taking out a personal loan, transferring credit card balances to a new account, or getting involved in a debt consolidation plan with a financial professional. Other options include home equity loans and mortgage refinancing. Before you decide on a method of consolidating your debt, you need to understand how a home loan can help you get your finances under control. Definition A home equity loan is an amount borrowed against the equity you have built up in your home. Equity is the difference between...

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Can a Credit Card Company Put a Lien on My House If I Live in Texas?

Debt collection laws for accounts that go into default vary from state to state with different laws applied to both secured and unsecured debt. Within the state of Texas you, the consumer or debtor, are largely protected from more extreme debt collection measures when dealing with credit card account issuers. Credit Card Debt Collection Basics When you quit paying your credit card bills, the account goes into default after a period of time specified on your credit card company's cardholder agreement. After the account goes into default,...

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How Do Liens Work?

When you owe a creditor money, it can use several different methods to try to collect that money from you. One option that a creditor can use is a lien. A lien is a legal claim to a piece of your property that the creditor can can use to repossess your property if conditions are not fulfilled. Lien Basics The basic idea behind a lien is that a creditor has a legal claim against your property. If you do not repay a debt that you owe to the creditor, your property can be seized by the creditor. In some cases, the creditor may not seize the...

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How to Calculate a Loan With Different Payment Dates

Many types of loans, including student loans and credit cards, calculate interest charges by the day rather than the month. The interest you pay is based on the day when the lender receives payment. If the day on which you send the payment fluctuates each month, or if you send multiple payments each month, it is difficult to predict in advance exactly how your loan payment schedule will look. However, you can calculate the remaining balance on your loan by determining how much of each payment goes toward interest and how much is left to pay off...

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Can a Judgment Creditor Take My Car If My Son's Name Is Also on the Title?

When a creditor moves to take judgment against you, it could potentially levy personal property to repay the debt that you owe. If you have a car that is jointly owned by you and your son, the creditor could take the car even though your son's name is on the property. Levying Property When the court issues a debt judgment against you, the creditor can use a levy to take your property. At this point, the creditor can potentially levy any property that you own, unless it is prevented by state laws. Cars that you own can be seized by the creditor...

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What Happens If I Walk Away From My Credit Card Debt?

If you have used credit to purchase a home, buy a car or purchase personal items, chances are you have debt. Financial burdens such as job loss, child support payments or medical expenses could made it difficult for you to meet the minimum payments on all your combined debts. Some consumers have considered simply walking away from their credit card debt. Before you take this route, you should know the ramifications of this decision. Damaged Credit...

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How to Build a Credit History When You Have None

You need to build a credit history not only to eventually be able to finance a car or a home in the future, but also because your credit history will determine whether you can get a lease on an apartment, get a cell phone contract in your name and it could potentially determine whether you get the job you are applying for. However, it's really a Catch-22 when you are young. You need to build a credit history, but because you don't have any credit,...

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How Collection Agencies Collect Their Money

Collection agencies are third-party companies that collect past due balances on behalf of the original creditor or buy bad debt from businesses below market value in the hope of collecting the debt and turning a profit. However, many collection agencies collect their money in the same manner. Letters Most collection agencies will begin with a series of collection letters. They must begin by giving the debtor the opportunity to dispute the...

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How to Look Up an Address with the National Credit Bureau

There are three national credit bureaus in the United States: TransUnion, Experian and Equifax. These three bureaus record, store and display information about the credit histories of all active consumers in the U.S. While their methods of collecting and recording information are often quite similar, there are a few differences between the bureaus. If you have a question about your report, or need to send a document to these bureaus, you must know...

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How to Write a Hardship Letter to Credit Card Companies

For those who have fallen on hard times and have difficulty paying off their credit card bills, writing a letter of hardship is one way to alleviate the burden of debt. Because a credit card settlement may reflect negatively on your credit score, writing a letter of hardship should only be considered as a last resort. Instructions 1 Write down what you are asking for in the first line of your letter. Be exact. If you are asking for a settlement...

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What Happens to Co-signers on a Foreclosure?

Co-signing on a home mortgage is always risky, because the bank or mortgage company can hold the co-signers 100 percent responsible for the loan after foreclosure. Co-signing for a home mortgage works the same as co-signing an automobile loan. The difference is that co-signing for a used car may create a liability of only several thousand dollars, while co-signing on a house could mean accepting responsibility for a loan of $150,000 or more. Foreclosure Process Foreclosed properties are eventually sold by the bank or mortgage company....

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How to Pay Off Old Debts

Many consumers reach a point in their lives where they are unable to repay a debt obligation. Many times the original creditor sells the debt to a collection agency. At some point the collection agency may realize that their attempts to collect the debt will be unsuccessful and will just quit servicing the debt. However, this outstanding debt still remains on the consumers credit report, usually for seven years. As the consumers financial situation...

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What You Should Know About Overpayment of Social Security Benefits?

From 2004 through 2008 the Social Security Administration (SSA) paid $2.3 trillion in retirement and survivor benefits. Later, SSA decided that $3.7 billion were overpaid. During the same period, $6.3 billion of $454.8 billion in disability insurance benefits were incorrect. Under section 204 of the Social Security Act, SSA has the obligation to attempt recovery of these overpayments. The Overpayment Notice Upon detecting an overpayment,...

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Debt Management Checklist

It is never too late to get debt under control. While a small amount of debt can seem harmless, it does not take long to for it to grow into a situation that may feel inescapable. When you make the decision to turn the tides on your cash flow situation, sticking to a debt management checklist can help you regain control over your finances. The Big Picture To gain control over your debt, you must know your debt-to-income, or DTI, ratio, which compares your monthly income to the amount of money you pay creditors on a monthly basis. To figure...

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What Is Consolidation?

When people start to realize that their personal debt is spiraling out of control they begin to look for help in getting their debt back into line. One of the popular solutions being offered to consumers is called debt consolidation. Before a consumer gets involved in debt consolidation it is important to take some time to understand what it really is and how it may be able to help the situation, or hurt. Identification Debt consolidation is the process of taking multiple forms of high interest debt, usually in the form of credit accounts,...

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What is the Ohio Automobile Private Seller Lemon Law?

Ohio's lemon law does not apply to used vehicles unless car buyers purchased their vehicles covered by existing warranties. The Ohio Lemon Law is codified in the Ohio Revised Code Sections 1345.71 through 1345.78. Consumers who purchase defective vehicles are eligible for a replacement of their vehicles or a return of their money if they are covered by the state's lemon law. Coverage The Ohio Lemon Law covers passenger cars, specific parts...

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Impact on Credit Report of Defaulting

Not knowing what will happen to your credit history if you're about to default on a loan feels like having an anvil hanging over your head. There are consequences, sometimes severe, when loan payments are in default. However, it is possible to recover and more quickly than you may imagine. Remember: It's always darkest before dawn. Late Payments How long and how frequently you've been late has a significant effect on your credit history. FICO, the Fair Isaac Corporation, considers three factors: the frequency, severity and recency of your...

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What Happens if You Do Not Attend a Credit Civil Demand?

A credit civil demand is another way to describe a summons and complaint for appearing in court for a debt lawsuit. A summons is the notification of a lawsuit and in some states requires a debtor to appear in court. The complaint is the actual lawsuit and details the allegations set for discussion during the court appearance. Failing to appear in court for a summons results in an automatic victory for the party filing suit, usually a debt collection agency. Process A summons and complaint are documents usually hand-delivered by a courier....

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How to Respond to a Foreclosure Summons

A foreclosure summons is the notification of a lawsuit and requires your immediate response. Ignoring the summons or failing to respond by the deadline can lead to a default foreclosure, according to the Pennsylvania Housing Finance Agency. A judge can grant a default judgment after you fail to appear in court to address the lawsuit. The judgment causes you to lose your home as it is awarded to the mortgage company or lender because you failed to make payments as agreed. Instructions 1 Schedule a free consultation with a real estate attorney...

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How Do Debt Consolidation Services Work?

Avoiding Financial Disaster Living above your means, an unforeseen emergency and a bad economy are just some of the ingredients in a recipe for a financial disaster. Some consumers fold under this kind of pressure and choose bankruptcy as a way of avoiding the calamity. However, bankruptcy is not always the best, or the only, solution. Finding a reputable debt consolidation service may be the more viable solution. What Is Debt Consolidation?...

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Debt Settlement Dangers

Debt settlement companies are different than credit counselors. Debt settlement companies negotiate directly with your creditors for a lump sum payoff, not just for reduced interest rates or affordable payment plans. Debt settlement programs can have significant risk, so approach them with caution. Fraud Fraud is a concern when using debt settlement companies. Some firms might not have your best interests at heart. Sometimes, you pay high fees before the company negotiates the first settlement with your creditors. Some servicers present...

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How to Donate a Car in Westchester, New York

If you live in the Westchester area of New York, and you have a car that you no longer want to keep around, donate it to a local charity. Donating your car to a charitable organization allows you to help out an organization while earning a tax deduction at the same time. Typically charities accept both working and non-working cars for donation. When you are ready to donate your car in Westchester, you don't even have to drive the car to the charity as it will be picked up in most instances. Instructions 1 Use the NADA Guides website (see...

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Debt Management Criteria

It's easy to lose track of how much debt you're accumulating, especially if you usually don't pay for things with cash and you don't tally small expenses. Successful debt management requires a change in spending habits, which includes considering how much you're paying in interest charges and fees to determine what your overall debt is costing you. Organizing Debts List how much money you earn and what you spend to get a realistic picture of your debt situation. The U.S. Federal Trade Commission recommends listing your monthly income from...

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Does a Closed Revolving Account Reflect Negatively on Your Credit Report?

Credit card accounts are revolving accounts -- an account that requires a minimum payment each month on any balance due and limits the amount of credit you can have at a time. If you are abusing your credit cards, you may be considering closing those revolving accounts. However, this isn't always the best idea, as closing accounts can damage your credit. Age of Accounts If you close your revolving credit accounts, the average age of your open accounts will take a dip. If the average age of your open accounts is low, you are less creditworthy...

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Consumer Credit Programs

Consumer credit programs help clients create plans to get out of debt, manage spending and learn to stay out of debt. Consumer credit programs particularly benefit individuals who would like to learn more about the root of their spending behavior or learn how to manage their finances effectively. Debt Settlement Program Debt settlement programs are best for those who can no longer make the minimum monthly credit card payments. A consumer credit program that assists with debt settlement assigns a counselor to communicate with a customer's...

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Who Pays a Spouse's Debt When He Dies?

The death of a spouse is traumatic enough without the added stress of finances and debt collection attempts. Debt repayment during probate and the surviving spouse's liability depend on state laws and account details. Excluding joint accounts and community property states, proceeds from the estate pay off the debts, or creditors write them off as losses. If you are unsure about your financial liability, consult a legal professional about your rights and responsibilities. Probate and Estate Process The executor of the estate has the responsibility...

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