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..

Wednesday, May 30, 2012

Will a Decrease in Your Line of Credit Affect Your Credit Score?

Independent agencies use rather complex and secret formulas to calculate your credit score. However, your available line of credit is factored into the calculations. Generally, the higher your line of credit, the higher your score. Formulas The precise formulas used by the major credit rating agencies are kept secret, as the exact formulas are trade secrets. However, we do know that a few critical factors have the greatest impact on your credit score. These include your payment history, the length of your credit history, types of credit,...

Debt Issues & Death

When an individual dies, it may be unclear who is responsible for paying any debts. The responsibility for paying usually falls to the estate and its executor. Prior to distribution of assets, the estate typically pays off the debts of the deceased, legally referred to as a decedent. If there are not enough assets to cover the debts, a debt collector may try to contact relatives. Insurance can reduce financial risk regarding the debts of the deceased. A House With a Mortgage The heirs generally do not have financial responsibility for the...

Tuesday, May 29, 2012

The Best Way to Watch My Credit

If you feel the need to monitor your credit score at all times, you have options. You must take the time to determine the best option before you give out your personal information or agree to join a program that requires a monthly subscription. Many services offer you the chance to monitor your credit score for a low price, but after doing some research you may come to realize that the best way to keep track of your credit scores is with the three major reporting agencies. Reasons for Monitoring Mistakes on your credit report can bring...

About Debt Elimination Options

Americans are carrying more debt than at any other time in history; on average, $8,000 per person. When debt becomes overwhelming, there are numerous options to help consumers handle it. There is no one right option for everyone; the solution to a debt problem is a matter of the individual's personal and financial circumstances. Significance Debt, particularly unsecured debt such as credit card balances, can build up more quickly than many...

Monday, May 28, 2012

How Long Can a Creditor Attempt to Collect a Debt?

When a debt is unpaid and a creditor attempts to collect it, a statute of limitations may apply. Federal and state laws define how long of a period the creditor can collect a debt, and after this period ends, the creditor may not attempt to collect the debt, even if it was valid. The statute of limitations varies depending on the type of debt the borrower took out. Federal Student Loans Some types of debt have an indefinite statute of limitations, so the collector can always attempt to collect on these debts. Federal student loan liability...

Sunday, May 27, 2012

How to Stop Harassing Creditor Calls

If you become delinquent on a credit card payment, you will start getting calls from the creditor regarding the missed payment. They will call you at every number they have listed on file for you. Sometimes the calls can get out of control. Usually when you tell a creditor to stop calling you, it is in one ear and out the other. With this tip, it will stop those harassing calls-legally. Instructions 1 Gather all information you can related to the account such as the name on the account, the account number, billing address and phone numbers...

How Credit Scores Affect Loans

Credit scores are ratings that combine a borrower's credit history into one number, usually ranging from low points in the 400s to high points in the 800s. The most commonly used score is the FICO score, which gives different weight to various types of loans and debt activity. Because the credit score is a summation of most credit history, many lenders use it as an immediate rubric when deciding what type of loan to approve for a borrower. A credit score can affect several very important aspects of the loan. Length and Type First, a lender...

How to Ask an Insurance Company to Settle

Asking an insurance company to settle a claim requires some preparation. You are at a disadvantage because the insurance company has broad experience in settling claims, while you may be doing this for the first time. To successfully negotiate you must carefully research the facts of the case as you prepare a formal, written document. Negotiating in writing creates a paper trail and prevents you from being intimidated over the phone by an experience claims adjuster. The process for settling is the same no matter what type of claim you have. You...

Saturday, May 26, 2012

Should I Cancel Credit Cards That I Don't Use?

An Open Line of Credit Can Be Useful You may wish you hadn't canceled that credit card if, say, you find yourself unemployed, or paying unexpected medical bills you can't afford. Also, a lengthy and positive credit history is valuable when you apply for home, auto or student loans. An Open Credit Line Can Be Tempting Having an open line of credit just sitting there can make you more likely to use it on something you don't need or can't afford. If you have a history of poor spending habits, or have had high credit balances in the past,...

How Long Should You Keep a Loan to Establish Good Credit History?

A credit history is something that will make or break a company or an individual. A good history will mean access to credit at a good rate of interest. A bad history will mean limited access to credit, if at all, or at a high rate of interest. Anything you can do to improve your credit rating is to be encouraged. The Loan If the purpose of the loan was to establish a credit history then the loan serves that purpose for a limited time. You may want to assess it after at least six months of a good payment record to see what effect it has...

What to Do When Your Pay Has Been Garnished

Employees may face wage garnishment if they owe back taxes and child support, or have delinquent credit card bills and student loans. Federal and state laws protect a portion of employees' wages from garnishment to pay debts. However, workers can dispute garnishments if they're unable to live on a reduced income. Process The type of debt a person owes affects how the garnishment process takes place. Creditors need a court order to garnish a person's wages. A creditor must sue a debtor to collect the money owed -- and win the case -- to...

Thursday, May 24, 2012

How to Monitor the Three Bureau Credit Reports

Monitoring your three credit reports is essential to maintain a good credit standing, or to rebuild your credit if you've experienced setbacks. At a minimum, monitor your credit reports yearly. However, daily, monthly and quarterly monitoring is also available. Depending on the level of monitoring you desire, you might be able to do that yourself for free, or it might require the use of a company. Instructions 1 Obtain a copy of one of the three credit reports through annualcreditreport.com. Consumers are legally allowed one free copy of...

How to Apply for Clean Sweep Credit Cards

The CleanSweep "credit card" is a bit of a misnomer. CleanSweep is a registered trademark of Bank of America and was the name of a debt consolidation marketing program. The program was heavily marketed through direct mail and offered a credit line of up to $50,000, at a minimum interest rate of 8.99 percent. The marketing campaign may have expired, but "clean sweeps" are still very much alive and well at banks across the country. Instructions...

Wednesday, May 23, 2012

How to Get Help With Your Bankruptcy Today

Immediate help with a bankruptcy requires fast action. The Federal Trade Commission recommends people carefully consider the advantages and disadvantages of bankruptcy before making a decision. However, people facing foreclosure, wage garnishment or some other pressing financial problem often feel they have to act immediately. Same-day help is available although there are consequences for a hasty decision. Bankruptcy information remains on credit reports for 10 years, even if the filing is later withdrawn. Instructions 1 Contact a bankruptcy...

Can You Close a Credit Card Account With an Outstanding Balance?

A 2008 survey by the Federal Reserve Bank of Boston revealed that the average American credit card holder has 3.5 cards. People who choose to close some of those accounts may do so even if they have a balance on all of their cards. They need to understand the process and how "closed" is defined for accounts that still have a balance due. Definition A person can technically close a credit card account by stopping the ability to make any further purchases on that account, but Dr. Don Taylor, Ph. D., a columnist for the Bankrate financial...

Tuesday, May 22, 2012

Bankruptcy & Settlement

Bankruptcy and settlement are two solutions for eliminating excessive debt. Both hurt your credit, but bankruptcy is more damaging because it appears in credit reports for a minimum of 10 years. Debt settlement activity is listed for seven years. The Federal Trade Commission (FTC) advises against bankruptcy unless there are no other options, but it recognizes that some people are forced to file because of long-term unemployment, illness or divorce. For others, settlement is a viable alternative, according to the FTC. Chapter 7 Bankruptcy ...

Can You Go to Jail in Texas for Not Paying Back a Payday Loan?

Payday loans are loans that are small in size and short in duration, typically lasting several days to a month. Most payday lenders charge extremely high rates of interest. According to the Federal Trade Commission, annual interest rates on payday loans can reach 391 percent. Failure to pay back a payday loan can result in severe financial consequences, including additional fees and a lower credit score. However, in Texas, as in other states, you cannot be placed in jail for defaulting on a payday loan. Lending Money Most payday lenders...

Credit Restoration & Repair Services

Credit restoration and repair companies provide a legitimate service to those in need of a higher credit score. However, the industry is rife with con artists who charge high fees and offer nothing in return. You may also be able to restore good credit on your own. If you are searching for a lawful and safe way to repair your credit, do your homework and check references. Understanding Your FICO Credit Score Your FICO credit score is a three-digit...

Monday, May 21, 2012

How to Write a Credit Repair Letter

Okay, you have received a copy of your credit report and see some blemishes that are affecting your credit. The problem now is where to begin on writing a letter to correct the problem and repair your credit. Instructions 1 Once you have received a copy of your credit report and have identified all blemishes, the next step is to start writing letters to help fix your credit. The first thing you want to do is highlight any and all negative marks on your report. 2 When you write your letter you will want to send a copy to both the credit...

Sunday, May 20, 2012

Laws About Credit Card Collections in New York

Federal, New York State and New York City laws regulate debt collection activities. These laws require certain actions of debt collectors and prohibit others. The laws are applicable to consumer debts, including for credit cards. All the laws apply to debt collection agencies, and in New York City to the actual creditors as well. Contact Rules It is legal for creditors and debt collectors to try to collect on outstanding debts. They are restricted...

Can I Take a Loan Out Against My Savings Account?

You can secure a debt using any form of collateral, including a savings account. A lender may permit you to use a current account you have as collateral on a loan. In other scenarios, a lender may ask you to open a new savings account to act as security against default. Both scenarios aren't favorable to the borrower and may not be worth the added risk. Definition A secured loan uses an asset as collateral on the debt. In general, secured...

Debt Checklist

When you find yourself in debt, you need to address the situation or else face significant long-term consequences. Unresolved debt can interfere with your ability to secure loans, preventing you from making serious purchases such a home or a car. It can also destroy your credit rating and often involves a far larger payment overall as you work to cover interest in the debt. To help get hold of your debt, it helps to have a checklist of things to...

Saturday, May 19, 2012

Reasons to Pay off Debt

Carrying high levels of debt or even multiple small debts can be stressful both personally and financially. Debt locks up or limits your spending power because your money is already pledged to paying the ongoing debt obligations, and makes it more difficult to get ahead financially. There are many great reasons to pay off existing debts, and the primary reason is sheer peace of mind. High Interest Rates The most common type of debt in the United States is credit card debt, and it's common for credit cards to carry 15 to 20 percent interest...

Does Paying All the Debt Collectors Improve My Credit?

Managing multiple debt collectors can be a colossal headache: fielding phone calls, letters and other forms of contact from collectors can lead to stress and worries about what steps to take. Poor credit can impede your ability to obtain a loan, secure landlord approval for an apartment or land a new job, so paying debt collectors might seem like an effective option to improve your credit. Don't expect a fast fix, however; negative marks on your...

What Does Insuffiecient Debt Capacity Mean?

Insufficient debt capacity means that an individual or business does not have the ability to take on a certain amount of new debt because allowable debt has already been incurred. For businesses, this restricts the opportunity to borrow money for expansion, and for individuals, it limits the amount they can borrow to finance various asset purchases. Individual Debt Capacity An individual's debt capacity is based on the amount of money he can borrow and safely repay. When people attempt to finance a house, car, boat and other major purchases,...

Arbitration for Unsecured Debt

Lenders of unsecured debt, such as credit card companies, have a vested interest in getting their money back from you. However, they also have limited options compared to secured debt lenders because they have no claim on any of your assets. They risk receiving no reward in court if you have no money to pay them with. One method they may use to collect unsecured debt is debt arbitration. An arbitration requirement may be part of your credit card contract. Process Your creditor first mails you an arbitration notice. If you don't understand...

Friday, May 18, 2012

How to Get Your Credit Line Increased on a Chase Credit Card

Obtaining a line of credit increase on your Chase credit card is fairly simple so long as you have good credit and are in good standing with the bank. However, the bank will likely pull your credit report upon your request for a line of credit increase and that will reflect on your credit report. Sometimes the bank will "soft pull" your credit report, which means that the inquiry will not appear on your report. Instructions 1 Call the toll-free...

Free Debt Elimination Information

Debt elimination does not have to entail monthly service fees, which is what happens when you hire a debt relief company to manage your bills. There's no mystery method for getting rid of debt. Debt elimination requires modifying spending and creating a realistic plan. Stick with your chosen strategy, and you will eventually pay down balances. Review Debt Obligations How much do you pay in minimum payments each month? What's your interest...

Thursday, May 17, 2012

Benefits of Eliminating Debt

Debt is used for a variety of purposes. Debt can help you earn money or pursue your passions when used responsibly. However, debt can also be a barrier to your financial freedom. Advocates for a debt-free lifestyle contend that eliminating debt can lead to a better quality of life. Personal Well-Being Falling into debt means more bills, reminders or collections notices from creditors. These constant reminders or collection attempts can lead to emotional strain. Too much stress can lead to illness. Improve your emotional well-being by eliminating...

Can Creditors Take Money From Your Bank Account?

When a person owes a large sum of money to another party, the person's creditors have a number of avenues of legal recourse. In some cases, a creditor may seek an order from a court allowing him to garnish wages from a debtor's bank account. While the creditor can legally take some funds from a bank account, many forms of income are exempt from garnishment. Features According to the New York City Department of Consumer Affairs, if a creditor...

Wednesday, May 16, 2012

How to Stop a Foreclosure in Jacksonville, Florida

A nonprofit credit counselor can help you stop a foreclosure in Jacksonville, Florida. Consumer Credit Counseling Service of Jacksonville and Habitat For Humanity of Jacksonville are approved by the U.S. Department of Housing and Urban Development to provide emergency foreclosure avoidance advice. The counselors can contact your lender directly and ask for a delay in the foreclosure proceedings while you and the counselor prepare a formal proposal to take to the lender. Instructions 1 Call your lender immediately and inform the lender that...

Tuesday, May 15, 2012

How to Buy a Car While Owing on a Repossessed Car

Losing a car to repossession can trap you in what might seem like a Catch-22. Your chances of successfully financing a new car get better if you can satisfy the balance you owe on the old one. But if you had a lump sum of cash at your disposal, you probably would have used it to save your auto from repossession in the first place. It can be an uphill battle to convince a new lender to take a chance on you before you've paid off the loan on the repossession,...

Monday, May 14, 2012

Which Bankruptcy Can I File for My Vehicle?

Chapter 7 bankruptcy and Chapter 13 are the most popular forms of personal bankruptcy, and either can address problems with automobile loans. People comfortable with losing their car to repossession generally choose Chapter 7 if they qualify, while people looking to keep their automobile often choose Chapter 13. However, all debts are listed in bankruptcy. It is illegal to hide other debts while declaring bankruptcy because of a car loan. Effects The Federal Trade Commission recommends people avoid bankruptcy if possible. Bankruptcy is...

Difference Between Fraud Alert and Credit Freeze

The three credit reporting agencies offer a credit freeze and a fraud alert as ways to protect your credit. In order to know which form of protection is best for you, it is important to know the differences between them. Identification A fraud alert is a note tagged on to your credit report that asks any potential creditor to contact you before opening any new accounts. A credit freeze is the locking out of your credit information to any...

Do I Have to Pay My Wife's Debt in Texas?

State laws determine whether you are responsible for debts incurred by your spouse. In most states, you are only liable for your wife's debts if you cosigned the agreement. However, in community property states, such as Texas, you may also be liable for debts that you didn't cosign. Liability For Debts Of Spouse Under Texas law, you can be directly liable or indirectly liable for your spouse's debt, or you may not be liable at all. You are...

Sunday, May 13, 2012

Can Credit Card Companies Take Unemployment?

While credit card companies can attempt to garnish your income, state laws may protect your unemployment benefits. Protection from garnishment may not stop a creditor from using other means --- such as bank levies or lawsuits --- to collect the debt. If you are sued for outstanding debt, seek legal advice regarding state laws and garnishment exemptions in your state. Facts Most states do not allow garnishment of unemployment benefits for consumer debt such as delinquent credit card payments. However, the state may withhold a portion of...

Saturday, May 12, 2012

How to Collect Debt in Ohio

Collecting a debt in Ohio must begin with a civil lawsuit filed by the creditor against the debtor. If the amount owed is less than $3,000, the lawsuit must be filed in small claims court, but for debts greater than $3,000 the lawsuit will be filed in district court, which oversees cases up to $25,000. Regardless which court is appropriate, to collect a debt, a lawsuit must be filed and a judgment entered on the creditor's behalf. Instructions Small Claims Court 1 File a lawsuit in the appropriate court against the person or business, the...

When Not Paying Off Old Debts Can Hurt

Not paying off old debts can hurt a person's credit, hinder future loans or employment and can lead to legal problems. Old debts will follow someone for years and whether a debt was forgotten or willfully ignored, acting quickly to repair the debt is important to an individual's credit history. Understanding how old debt can hurt in the long run will enable individuals to avoid debt problems and help clear outstanding debts or judgments against them. Credit Reporting Agencies When a person defaults on a loan, credit card or other payment,...