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Wed, 11 Jun 2008 17:55:00 +0200 As most people that use credit cards for almost all of their payments it is estimated that 80 percent of the Americans have credit card debt. Debt Consolidation services like ours are here to assist you in getting out of the credit card debt you might have got yourself into.
There are lots of advantages you get by choosing credit card debt consolidation service. The main advantage of credit card debt consolidation is that it brings financial stability in your life. You know that your credit card bills will be paid and you will see your monthly balances go down with each payment that you make. We do the negotiation with the creditors and reduces the interest rate to a significant extent. Credit card consolidation will assist you to getting rid off your unsecured debts which includes your credit cards within a shorter period of time than you can do yourself. Though credit cards can be an excellent way of making easy payments and a way for you not to carry cash, you may end with high debts owing to many creditors. If you are one of those people then a debt consolidation program like ours might be a way for you to consolidate your unsecured debts and assist you in taken over your financial situation and getting it under control. Wed, 14 May 2008 19:53:00 +0200 Things you can do to reduce your utility bills.
How Can I Lower My Heating Bills -- You can turn your thermostat down about three degrees. Doing this can save you about 3% on your heating bills at times. You can even turn it down even more when your in bed at night and during the day when you're at work to save even more money. You can close off rooms you don't use to conserve even more energy. You should weatherstrip doors and windows and insulate the attic. How Can I Improve Appliance Efficiency -- The three biggest consumers of energy in your home are the heating system, your hot water heater and your refrigerator. You can improve the efficiency of these appliances by making sure you maintain them. Give your furnace a tune-up once a year. Wrap the water heater to insulate it and you should also clean the refrigerator coils at least twice a year. Contact your utility company and find out if a reduced rate is offered during certain times of the day as well . If so, use a timer to set your water heater so that it cycles during this period of time during the reduced rates. How Can I Lower Long Distance Charges -- Calling friends and relatives at night and on weekends can lower your long distance telephone bill. You should also shop around and compare long distance packages to get the lowest rate possible. Of course, you can save a bundle by communicating via e-mai or web caml rather than making a telephone calls. How Can I Lower My Water Bill -- Fix all water leaks and install water saving showerheads. You can also place a container filled with water, a brick or any other heavy object in the toilet tank to conserve water as well. Do full loads of dishes and laundry. Washing a full load of clothing is the most economical way to use your washing machine. Use cold water whenever possible. Did you know your water heater is the second biggest consumer of energy in your home. Did You Know Dishwashers Use a Lot Of Hot Water -- It just might be a better idea to wash those dishes the old-fashioned way. Did uyou know washing your clothes and dishes when the machines are just half full costs the average American household $700 to $900 in added utility fees each year. Dryer -- Your dryer uses less energy if you dry groups of clothing one immediately after another. You save energy because your dryer is already hot and does not have to waste time heating up again. Tue, 18 Mar 2008 20:12:00 +0100 Wage Garnishment A writ of garnishment is an order granted to a creditor by a court. It orders an employer to garnish the wages of the defendant by a certain amount each paycheck. Such a writ is only granted after the creditor has filed suit to recover a debt and received a favorable judgment. This can not be granted without a judgment, as every American is guaranteed the right to due process. So, unless your creditor has sued you and won, do not worry about your employer receiving such a writ and the creditor garnishing your wages. A writ of garnishment not only states the amount to be garnished from a person's paycheck; it also provides instructions as to where the amount taken from the paycheck should be sent as well. If your employer receives a writ of garnishment, they then have no choice but to do as he has been instructed no matter how much he may not want to do so. An employer who refuses to do as the writ orders could face serious legal trouble himself since he is disobeying the order of a court of law. How to Avoid Wage Garnishment The best way to avoid having your wages garnished is to avoid being sued in the first place. So many consumers go into denial mode when they can't pay their debt and try to hide from and avoid their creditors by ignoring correspondence and phone calls. Just contacting your creditors, telling them why you can't repay your debt, offering a reduced monthly payment and keeping them informed of your financial progress, is a much more effective way to handle debt problems and avoid writs of garnishment and -- if you deal openly and honestly with your creditors you won't jump every time the phone rings or lay awake at night worrying. Creditors spend a fortune on collection costs and are motivated to avoid lawsuits, therefore, both you and your creditor benefit by communicating and working out a payment plan which a debt consolidation company can assist you with. Debt consolidation can help you get out of the debt your in and get you on the right track to financial freedom. Apply today Thu, 14 Feb 2008 21:25:00 +0100 Can my friends, neighbors and relatives be contacted by my Creditors? The answer to this is Yes they can, a debt collector or creditor can call your friends, neighbors and relatives to try and locate you if you are dodging them or they can't find you, BUT if they are told to stop calling they must do so. When a debt collector calls your friend, neighbor or relative, they can only tell them who they are and with but they cannot give out your account number or that you have a delinquent debt or other details of the delinquency. Debt collectors will even contact your neighbors across the street whom you don't even know. They will ask your neighbor to leave a message on your door asking you to call them. Although this tactic is designed to embarrass and humiliate you, The Fair Debt Collection Practices Act has not been interpreted to bar them from contacting your relatives and neighbors. Of course, these third parties might tire of receiving such calls and ask the collector to stop. In this event, the collector would be required to stop calling your neighbors and relatives which usually happens. Of course, the best way to avoid a debt collector from contacting your relatives, friends and neighbors is to not avoid their phone calls. If you are having problems with debt one solution is to consolidate your unsecured debt by using a debt consolidation company. This is one way that your calls will stop Thu, 31 Jan 2008 15:41:00 +0100 Debt Problems: Can My Employer Be Contacted By A Debt Collector?
A debt collector may contact your employer to verify that you are employed by them, also they can find out whether you have medical insurance to cover a specific debt that you may have, or they may call to garnish your wages. In order to do this the debt collection agency must first sue you and obtain a judgment against you. Most states require debt collectors to make these inquiries of your employer in writing; but at times they may allow the collector to contact the employer by telephone if no response is received within a few weeks of the written inquiry. Can I Be Contacted By a Debt Collector At Work About a Debt I Have With Them? Yes, a collection agency can contact you at work by phone or mail unless the debt collector knows or has reason to know that your place of employment does not allow you to receive such communications. Any written communication sent to you at work must me marked "Personal and Confidential" by the debt collector and a debt collector may not reveal the reason for the call to your supervisor or any co-workers. If he does, he has violated the Fair Debt Collection Practices Act. If you do not want to be contacted at your work place you should write the debt collector a letter asking them not to call you at work or send you notices at work because your boss forbids such activity. Thu, 03 Jan 2008 22:03:00 +0100 Holidays are over and the New Year is Here. Start it off right.
The holidays are over and your credit card bills have piled up even more. The new year has started so get off on the right foot and lets get those finances in order. Debt consolidation can help you pay off all those credit card bills that you maxed out or almost maxed out for the holidays. How can our debt consolidation company help you may ask. Well we can consolidate all those unsecured bills into one monthly payment, YES ONE monthly payment. Wouldn't that be nice to just pay one bill a month. The process is simple you pay us and we then disburse that payment to all your creditors that you have on our program. Its that easy. Make your new years resolution to become debt free. Pay off all those credit card bills and live a debt free life today. Its simple as just filling out a quick no obligation application and then one of our credit counseling experts will contact you to explain and discuss exactly what we can do for you to assist you in getting yourself out of the financial hole you may have got yourself into. So fill out an application today and be on the road to debt freedom. Click Consolidate Save...simple Thu, 13 Dec 2007 15:05:00 +0100 Can a creditor take me to court if I fail to make payment?
Yes they can take you to court. If your debt is large enough, your creditors may refer your account to an attorney and take you to court. Often creditors will win if they file a lawsuit against you in court. The only time they would not win is if they file a law suit and do not appear at the hearing on a specific court date. Creditors realize that going to court can be frightening, so they hope that you wont show up on the court date. If you dont appear in court, they win their case by default and may have the ability to garnish your wages up to 25% or more. If the creditor tried every angle to collect payment on your past-due account, from written notices and to phone calls to having a collection agency contact you. At this point the creditor has given up on collecting your debt and rather than take you to court, they write off your uncollected debt as bad debt. This is known as a charge off. These charge offs are charged against the creditors revenue on their income taxes. Even though your account is charged off you wtilll owe the money and a charge off will be noted on your credit report. This is a negative mark that could keep you from obtaining credit or purchases such as a car or renting an apartment. A charge off account will haunt you until you pay it in full. Before you get to this point you may want to look into debt consolidation. Consolidate now and get on the right path to financial freedom. Mon, 26 Nov 2007 20:59:00 +0100 How does Unsecured Debt work
Lets first say you have been approved for a credit card with a spending limit of $7000. You then activate the credit card and start using it to purchase various items like, clothes, furniture, movies etc) Once you purchase any item with that credit card, the card created unsecured debt. The card is considered unsecured because it was issued to you based on your credit and payment history and there is no property securing your purchases. If for any reasons you cannot make payments to the credit card company they can cancel your credit privileges and must resort to sending you to collections were the collection agency tries to collect from you or suing you in court and convincing the judge to grant them a judgment against you for the amount you owe them. Once a judgment has been granted, the credit card company may be able to garnish your wages, up to 25%, depending on the state law. Unsecured debt can only be obtained by having an average to good credit rating and payment history. Unlike secured debt, unsecured debt usually comes with flexible payment amounts and terms and credit limits. If you cannot pay your unsecured debts they often may be released in bankruptcy. Over spending on credit cards is the leading cause of uncollected unsecured debt. If you have a lot of unsecured debt and dont know what to do a debt consolidation program may be for you. Wed, 07 Nov 2007 19:21:00 +0100 Cost That Are Associated With Credit Cards?
Interest - This is added to your credit card balance and is usually approximately 18.9% and may and may be compounded on a daily basis against the balance that you carry on your credit card. Interest is how credit card issuers make money. Interest is alos what makes up the finance charge. Annual fees - Some credit card issuers charge these fees sometimes up to $75 or more, to your account each year. These fees are sometime called membership fees. The cards that usually don't charge annual fees usually charge more in interest fees. Cash advancement fees - This is a fee that as you borrow cash against your credit card, the credit card issuer will charge you a fee for this. These fees accumulate interest just like your revolving balance does Transaction fees - These are fees that are charged to your credit card account if you change your due date, use your credit card, ask to lower your interest rate, transfer money, etc. The creditors have there own guidelines for this. This fee is not a standard fee Late Fees - When your payment has not been received by the credit card issuer's due date, which is stated on the credit card statement. The fee can range usually from $29 to $35. these fees are very common and can add up quickly. Sometimes they can actually increase your overall balance. Over Limit Fees - Credit card issuers have the right to charge you a fee if you charge in excess of your credit limit. This is a fee that can range usually from $29-$35 depending on the credit issuer. If you go over your credit limit, most credit card issuers may request that you pay the amount you are over the limit in addidtion to the minimum monthly payment required. Fri, 26 Oct 2007 20:31:00 +0200 Can you use your credit cards when your on a credit counseling program?
As part of the mutual agreement between the creditors and the client, the client is required to stop using the credit cards. Acquiring more debt while on a debt consolidation program defeats the purpose of being on the program in the first place. If creditors are willing to give more favorable repayment benefits to a client they want to make sure that they can not charge any more debt than they already have. The creditors close the accounts and sometimes request that the debtor cut the cards up or send them back. Reinstatement of charging privileges is done at the creditors discretion. While on a debt program its in your best interest not to use your cards and not charge anymore debt. Your goal is to get yourself out of debt not into anymore. Free Debt Consolidation Quote Tue, 25 Sep 2007 21:03:00 +0200 How to Handle Your Creditors and Debt Collectors
Depending on the situation that you may be in and the amount of money available for you to pay your creditors, consider how you are going to pay off these debts. Debt consolidation can be a solution to this problem and help avoid those calls from creditors and collection agencies looking to get the money that is owed to them. There are 2 different types of collectors that may call you. If the account you have is not severely behind, less than 6months behind, you might start getting calls and collection letters from the credit card company that you owe money to. The other type of call that you may get is from a collector that is a third party collector who represents a recovery or collection agency. Dealing with the creditor card company its self is alot better than dealing with a third part agency. SO if you find yourself falling behind try not to let it get too far to avoid third party calls. The further you become delinquent the more pressure you will feel from the collection agencies. When you are past due a certain amount of days the original creditor will transfer or sell to a collection agency to try and get that debt back. This is called a charge off and the creditor considers the balance to be uncollectible by their standards and they remove the uncollectible balances from other active collectible account records. When an account is charged off, it means that the original creditor will no longer attempt to collect money that is owed to them and they will usually hire a collections or recovery agency or sell the account at a discount. In most cases, when an account is charged off the interest stops accuring on the balance and penalty fees are no longer applied, however, legal fees and processing fees can be added which may inflate the balanced owed. When turned over to a collections agency you may often face more intense collections attempts that may border on harassment. So before your debt gets to this point applying for debt consolidation may be the best choice for you to assist you. It is important to realize that unsecured creditors can adopt more drastic methods of collections such as wage and bank account assignment, and attachment of personal property. So as you see taking care of your debt is important and one way to help you get out of debt is by debt consolidation. It will help you make one low monthly payment and at times lower interest and eliminate late fees. So do not let your debt get out of control. Help is just one click away. Fri, 03 Aug 2007 21:23:00 +0200 Budget and Cost Cutting
What is a budget? It is comparing your income to your expenses. It is very important to evaluate you budget so you can manage your debt and not get yourself in trouble if you are not already in trouble. Most people know what there income is, but do not know how much they actually spend a month. So keeping a log of how much money you have coming in compared to how much money you spend will help you manage this. Create a budget helps you realize how much your style of living is really costing you. It also help you organize your personal finances and assists you in finding out where you should cut back on your spending. When creating a budget you can look at it as a quest in your goal to becoming debt free. When you start to record your budget make sure your numbers are accurate. Do not overestimate or underestimate your income and spending. You should create a budget worksheet and keep track of your spending. When tracking this will help you realize where you should cut costs and assist you in changing your lifestyle to better suite your spending habits. Which in turn will help you keep yourself out of debt if your not already in a financial hole. Turning to a debt consolidation company can assist you in getting on the right foot in becoming debt free. With our help along with keeping your budget you should be on the right path to financial freedom. Tue, 22 May 2007 18:37:00 +0200 How to avoid impulse buying.
Below may help you with impulse buying that you may be used to:
Tue, 27 Mar 2007 18:00:00 +0200 Ways you can Improve your Credit Score What
Did you know your credit score can be the difference between you getting a good home loan and getting stuck with higher monthly payments cause of high interest rates. Lenders are tightening their standards now and it is even more important that you improve your credit score as much as you can so you don't get caught with them high interest rates. There are actually 3 FICO scores computed by data provided by each of the three major credit bureaus which are Experian, Trans Union and Equifax. Some lenders will look at one of these three scores, while other lenders may use the middle score of the 3. Most applying for a mortgage the lenders look at your FICO score. You may be asking what this score takes into account. The following is taken into account when they calculate nyour credit score your payment history, which makes up the biggest chunk of your score, looks at how often you pay your bills on time. The amount of debt you owe is considered equally important. The amount of time you've had your credit cards and how much new credit you apply for all play a role in determining your score.
What you should aim for is a credit score in the 700s to get you more favorable loan terms. The best way to improve your credit score in the short term is to pay off the high balances on your credit card - that can raise your FICO score 60 to 70 points overnight, says Craig Watts of Fair Isaac. As we mentioned, your FICO score looks at how long you've managed your credit. So the longer you've managed your credit wisely, the better your score. If, for example, you have a card that is at least 5 or 6 years old, it's not a good idea to close those accounts so it shows you know how to handle your credit. What if there is an error on my credit report? If you see an error on your report, report it to the credit bureau. The three major bureaus in the U.S., Equifax (1-800-685-1111), Trans Union (1-800-916-8800) and Experian (1-888-397-3742) all have procedures for correcting information promptly. Alternatively, your mortgage company may help you correct this problem as well. Mon, 05 Mar 2007 20:05:00 +0100 Got High Levels of High Interest Debt?
These days most everyone has at least one credit card out of necessity. Most need a card to do things from like booking a hotel room to buying a plane ticket or even trying to renting a car, in most cases it is just about impossible to travel without a credit card. Many other facets of everyday life are also made easier and simpler by the convenience of credit cards, but all this ready access to spendable cash has its downside as well. As people charge more and more items that they used to pay cash for, it is not surprising that the levels of credit card debt have risen to record levels in recent years. Adding to the problem is the fact that interest rates on credit cards have not fallen in line with interest rates on savings and other types of loans. The interest rates on credit cards remain very high and this means it can take at times years and even decades to pay off even a small balance due to this high interest rates. One thing to remember is it is important to know how to use credit cards wisely. It is also important to know how to eliminate the high interest credit card debt you may already have piled up. Credit cards can be a great way to pay for items if the balances are able to be paid in full at the end of each month. If the balance is paid in full each month, you are essentially getting an interest free loan, a great deal even in today’s low interest rate environment. If you carry a balance and don't pay off the debts each month however, you may have opened yourself up to all kinds of interest charges, late payment fees and the like. These fees are on the rise so it pays to watch them closely. If you do need to carry a balance, make sure it is on the card with the lowest interest rate. You will save lots of money on interest and probably end up with lower monthly payments as well. Of course eliminating that high interest credit card debt is only half the battle. The other half of the battle is using the remaining credit cards wisely and rarely if ever carrying a balance. This will take some perseverance and some discipline but it will be worth it in the long run. You may need Debt Consolidation to help you with the debt problem you may have. Thu, 04 Jan 2007 19:52:00 +0100 5 Warning signs you may need debt consolidation
Do you have too much debt and cant make your monthly payments or just pay minimums? You could be heading down a road to a financial crisis. Here are some warning signs that you may have a debt problem. 1) You are making only the minimum payment to your creditors If you are only making the minimum payments to your credit cards, it will be almost impossible to ever pay off the balance. If you can't pay off your entire balance every month, you should make as large a payment as possible each billing cycle. 2) You are using one credit card to pay off another If you use one credit card to pay off another, the money you owe will only grow over time It would better if you stop using a credit card altogether until you have the balance paid off. 3) You take out cash advances to pay your other bills Credit card cash advances should only be used for emergencies, because the interest rate is very high - frequently over 20%. If you find yourself doing this alot maybe you need to join a credit counseling program to help you get rid of your debt. 4) You start to hide purchases you make from your family If you are hiding purchases from your spouse or family members, you may have a debt problem. They will soon find out 5) You are receiving collection calls or letters from your credit card companies If you have started to receive calls or letters about unpaid debt, you're in the early stages of serious trouble. You need a plan right now to start repaying your debts. If you answered "yes" to any of the five warning signs, you need to act now to reduce your debt. The longer you wait the worse it will get. Why will creditors lower my interest rates for you? Creditors realize that we are many times the last resort for many people and they would prefer not assigning the account to the collection agency. They also realize that we work with people on debt management and budgeting. Since you have made a commitment to us, they feel that you are a better candidate to make monthly payments to us as opposed to filing bankruptcy. We also eliminate an awful lot of paperwork for the creditors and they appreciate that. Debt Consolidation Clients May Receive the Following Benefits: -Elimination of past-due collection calls -Choice of payment dates and payment options -Monthly Newsletter - Dollars & Sense -Waived late fees -Reduced or elimination of high interest rates -One Low monthly payment - dispersed to all creditors on KCC program -Financial Responsibility Education -Cut Payments up to 70% -Make One Low Monthly Payment -Fast one hour approval -Elimination of past-due collection calls -Account re-aging Get a Free Debt Consolidation Quote Today Wed, 13 Dec 2006 20:07:00 +0100 Debt Help
It is no secret that most people have too much consumer debt. It is all too easy to just sign your name on the dotted line and run that credit card up to the max. Unfortunately, many users of credit cards seem to forget that eventually the bill comes due, and they may be in for a rude surprise when it does. Credit card interest rates are notoriously high, even for consumers with good credit. Interest rates on typically unsecured credit card loans can be 18% or even higher. At interest rates like that, it could take you decades to pay off even a small balance if you only pay the minimum balance due each month. Add that to the extremely high late fees and over limit fees that credit card companies often charge, and you can see how easy it is for many people to begin drowning in debt. The most basic tool in getting a handle on your debt and eventually eliminating it altogether is to make a monthly budget and stick to it month in and month out. The family budget is the most basic form of financial planning, and I am always shocked by the number of people who do not take the time and the effort required to create this simple financial document. Making a budget will go a long way toward getting a handle on your spending and lowering your debt. Write down every penny you spend, from that $2 cup of coffee each morning to that $20 tank of gas to your monthly mortgage payment. Seeing your spending in black and white can be a real eye opener, and you may instantly see simple and painless ways to tighten your belt and save yourself lots of money. Just tightening your budget a little bit can provide you with extra money to pay down your debt. Paying extra on your credit card bills can go a long way toward retiring your debt. Of course after your debt is paid off, you will have to make a concerted effort to not run up any more debt. Cut up those credit cards and keep one with a low credit limit for emergencies only. Use it only when absolutely necessary and always pay it off every month. Debt Help is here just go to our website about Debt Consolidation. We will be able to assist you. How does ONE LOW monthly payment sound? We may even be able to cut those interest rates almost in half and even get rid of those late fees. It is always difficult to save money, and getting yourself out of debt can be difficult. It is not beyond your ability, however. Getting a handle on debt can be done with just a little bit of advance planning and financial know how we can help you pay off your debt. Thu, 09 Nov 2006 17:27:00 +0100 Debt Consolidation - Do you need Help?
Are you one of those people that are in way to deep when it comes to debt but just don't know it yet? Are you one of those people that don't have enough money to pay the bills without juggling things around? Are you one of those people that can't buy groceries. Are you one of those people that say they will start saving for retirement tomorrow, not realizing that tomorrows add up to too late? There are plenty of people out there that have a mortgage and an auto loan and are managing their debt wisely. They have no credit cards. And in return, they have less stress when it comes to finances. Some people are even strong enough to have a credit card and pay it off in full each month. But many people out there are not that strong. How do you know if your debt is out of control? Below may be some signs that you are having financial problems: * You only make the minimum payments on your credit cards. * You let bills slide for a few days or even a week. * You don't have any savings or emergency funds available. You may take out loans to make ends meet. * You buy everyday items and pay bills with your credit cards and hardly use cash. * You have more than two credit cards with very high balances. * You have no money at the end of the month after your bills are paid. * You have maxed out your credit card(s). * You don't even know how much you owe your credit cards. * You are charging more than you are paying each month. * You have been declined for credit. * You bounce checks often. * Your creditors call you looking for payment. * You hide your spending and the credit card statements from your spouse. If any of the above are true about your finances, you need to realize that you are in debt trouble. Right now. You are in over your head. Get A free Debt Consolidation Quote You need to re-think your finances and change your financial ways as soon as you can. It isn't worth the stress having that financial burden. you should start taking steps to paying off your debt and take control of your situation. Money shouldn't control you, you control the money. Start with listing all of your debts. Be honest and list everything. Include interest rates, monthly payments and balance due. This will let you see exactly where you stand financially. Next you should create a budget. This may take a month or two to get budget worked out. Look at it closely to find ways you can trim your spending and pay down your debt. You may find that you have to sell something or get a second job to get started. One thing you should do is get rid of those cards right now. Do not use them anymore. You should set financial goals and try and reach them. You will never want to charge again when you see what it is really costing you. Take action against your debt situation NOW. Get A free Debt Consolidation Quote Fri, 27 Oct 2006 17:39:00 +0200 Debt Management Services Can Help You Out of Your Financial Hole
Do you feel overwhelmed by the amount of debt you owe? Do you lie awake at night wondering how you will pay the rent, the car payment or the mortgage. Do you worry constantly about having enough money? Are you constantly being harassed by bill collectors? If you answered yes to any of those questions, you may be able to benefit greatly from the services of our debt consolidation company. It is not hard to understand why so many people find themselves deeper and deeper in debt. Real wages have been falling for years, and prices have been on the rise. With this formula, it is surprising that more people are not having problems with debt. Fortunately, our debt management company stands ready to help consumers who are overwhelmed by what they owe. Many people who are in debt over their heads contemplate declaring bankruptcy, but this is often not a good option. A bankruptcy filing will stay on your record for many years, and in some cases the consumer is still required to pay back a substantial portion of what is owed. Debt management companies specialize in showing their clients how to negotiate with their creditors and pay back what is owed in a way that is affordable to them and acceptable to the creditors. We work for you not the creditors. The same bank or credit card company that said no to the consumer may well say yes to the debt management company. This is because the debt management service will have demonstrated a level of sophistication and success that allows the creditors to have confidence that they will get their money, while at the same time allowing the debtor to pay the money they owe on a schedule they can live with. If you feel overwhelmed by your level of debt and if you are considering a bankruptcy filing, you owe it to yourself to at least sit down and talk to one of our debt counselor first. It may be the smartest move you ever make. Tue, 17 Oct 2006 17:50:00 +0200 Identity Theft - Their Opportunities Are Your Everyday Transactions
In the course of a busy day, you may write a check at the grocery store, charge tickets to a ball game, rent a car, mail your tax returns, call home on your cell phone, order new checks or apply for a credit card. Chances are you don't give these everyday transactions a second thought. But someone else may. Click here for your free debt consolidation quote now! The 1990's spawned a new variety of crooks called identity thieves. Their stock in trade are your everyday transactions. Each transaction requires you to share personal information: your bank and credit card account numbers; your income; your Social Security number (SSN); and your name, address and phone numbers. An identity thief co-opts some piece of your personal information and appropriates it without your knowledge to commit fraud or theft. An all-too-common example is when an identity thief uses your personal information to open a credit card account in your name. The Internet, Identity Theft & Prevention How can someone steal your identity? By co-opting your name, Social Security number, credit card number, or some other piece of your personal information for their own use. In short, identity theft occurs when someone appropriates your personal information without your knowledge to commit fraud or theft. Here are some ways that identity thieves work: * They open a new credit card account, using your name, date of birth, and Social Security number. When they use the credit card and don’t pay the bills, the delinquent account is reported on your credit report. * They call your credit card issuer and, pretending to be you, change the mailing address on your credit card account. Then, your imposter runs up charges on your account. Because your bills are being sent to the new address, you may not immediately realize there's a problem. * They establish cellular phone service in your name. * They open a bank account in your name and write bad checks on that account. Internet Account Updates If you receive an e-mail request that appears to be from your Internet Service Provider (ISP) stating that your "account information needs to be updated" or that "the credit card you signed up with is invalid or expired and the information needs to be reentered to keep your account active," do not respond without checking with your ISP first. Click here for your free debt consolidation quote now! Identity Theft - Case Study It’s easy for Identity Thieves to get your personal information and use it to ruin your credit. There are laws to protect you, but what happens when the authorities won’t go after these Identity Thieves? One woman whose name will remain anonymous found out the hard way. She contacted a local television station, shared her frustrations and what the news team shared with her made her even more furious and shocked, and you would be too if you found a letter with your name on it in the mail slot of someone who you think stole your identity. "I am fired up at this time and very angry. That I feel like I could choke her" said Jane. Jane, a school librarian, mother of three stated: "I am very careful. I don’t throw anything away. I don’t have a computer and use the Internet and I actually burn my mail in a big grill." So imagine her surprise when she got a message from Chase stating that someone was using her good name. "They told me that someone had applied for a credit card over the telephone using my name, my social security number, and my address. And, it didn’t end with a credit card." Said Jane. "The woman also got a telephone account and tried to buy a computer. She could have even gotten some others that I don’t even know about because, there are other little cards out there that they just give away." Jane managed to locate the woman’s name and address and filed a report with local authorities. Authorities told her there was nothing they could do. Jane decided to take things into her own hands and invited the news team along as she and her family went to confront the Identity Theft. The woman wasn’t home, but Jane did make a disturbing find -- a cellular wireless bill was in the Identity Thefts mailbox with Jane’s name -- yet another account she’ll have to cancel. Click here for your free debt consolidation quote now! The news team has left messages and gone back to the city to try and contact the identity theft with no avail. But, here’s a question to ponder: Why is this television news team the ones helping Jane clear her good name and not the authorities? "We do the best we can." Said the police. The Police department would not talk about Jane’s case, saying only that it’s an active investigation, and they say, these cases are hard to prove because the credit card companies will not pursue them. "If the issuing bank or company makes a decision that they would rather write off the loss, then there’s not much more we can do with that because they hold all the necessary data to process the case." Said Laurick Ingram with Miami-Dade Police. Identity Theft - Additional Precautions Sounds discouraging? Yes it is. BUT, there are things that you need to do immediately after you are made aware that your Identity has been stolen: 1. File a police report. Even though law enforcement say it’s difficult to make a case, your banks, credit card companies and who ever you conduct business with will need this as proof that a crime has taken place. 2. Immediately Contact all three major credit bureaus, so they can put a fraud alert in your file. 3. Contact the creditors or companies for any accounts that have been tampered with or opened fraudulently. Tue, 10 Oct 2006 17:18:00 +0200 Debt Statistics
You're not alone. A large percentage of people find themselves in this exact financial situation. Below are some debt statistics that you may find interesting. * Almost one out of every 100 households in the United States will file for bankruptcy. * Out of all card holders within the U.S., 51% are females * 43% of U.S. families spend more than they earn. * Only 2% of homes in America are paid for * 92% of U.S. family disposable income is spent on paying debts. * Making minimum payments on a credit card with a $4,800 balance, at 17% interest would take 39 years and seven months to pay off. Paying $10,818.63 in interest alone, and a total of $15,619 for the privilege of charging the $4,800. * Approximately 46% of all Americans have less than $10,000 saved for retirement. 39% of Americans are concerned about their ability to achieve their desired retirement lifestyle. * An $8,000 debt at 18% interest will take over 25 years to repay and cost over $24,000 in the long run. * The average American household has 13 charge cards. There are 1.3 billion payment cards in circulation in the United States. * Americans made $1.1 Trillion worth of credit card purchases in 1999. * Americans carry, on average, $5,800 in credit card debt from month to month. If one were to make only the minimum payment on that debt every month, it would take 30 years to pay off - and include an additional $15,000 in interest. * According to the American Bankruptcy Institute, 391,873 people filed for bankruptcy in the third quarter of 2002. * On average the typical credit card purchase is 112% higher than if using cash. * 96% of all Americans will retire financially dependent on the government, family, or charity Get your free debt consolidation quote. today. Make one low monthly payment today. Credit Counseling can be your answer to becoming debt free Tue, 03 Oct 2006 20:56:00 +0200 Divorced? Consolidate Debt
Debt and Divorce Most divorcing couples have as much debt as they have property. Getting disentangled in divorce is as much about assigning responsibility for the payment of debts as it is dividing up property. Therefore, it is important to: * Finding out what you owe * Freeze your debt * Discuss and allocate responsibility * Living reasonably with your debt Finding Out What You Owe You may already know what is owed since most couples do. However, if your spouse has been secretive about financial affairs, or if your spouse is unable to resist spending money and taking on additional debts, you may be in dark with the exact amount of debt involved. And, one of the easiest ways to find out about outstanding debt is to get a copy of your credit report. Who knows, you and your spouse may have a shared credit history that you are unaware of and, getting your credit report from all three agencies is probably a good idea. Divorce Debt Uncovered Jenny thought she was just wasting time ordering credit reports. But what she soon discovered came as a shock to her. You see, her husband had signed her name to six different credit card agencies, running up more than $15,500 in credit card bills in her name. Credit Report Errors If your report has errors, each credit-reporting agency provides detailed and specific instructions on how to correct errors. Bad Credit Warning If your credit is damaged, don't fall victim to a company that promises to be able to repair your credit for you. Everyday, companies nationwide appeal to consumers with poor credit histories. They promise, for a fee, to clean up your credit report so you can get a car loan, a home mortgage, insurance, or even a job. The truth is, they can't deliver. After you pay them hundreds or thousands of dollars in up-front fees, these companies do nothing to improve your credit report; many simply vanish with your money. Get a free debt consolidation quote No one can legally remove accurate and timely negative information from a credit report. But the law does allow you to request a reinvestigation of information in your file that you dispute as inaccurate or incomplete. There is no charge for this. Everything a credit repair clinic can do for you legally, you can do for yourself at little or no cost. According to the Fair Credit Reporting Act: * You are entitled to a free copy of your credit report if you've been denied credit, insurance, or employment within the last 60 days. If your application for credit, insurance, or employment is denied because of information supplied by a credit bureau, the company you applied to must provide you with that credit bureau's name, address, and telephone number. * You can dispute mistakes or outdated items for free. Ask the credit reporting agency for a dispute form or submit your dispute in writing, along with any supporting documentation. Do not send them original documents. Clearly identify each item in your report that you dispute, explain why you dispute the information, and request a reinvestigation. If a new investigation reveals an error, you may ask that a corrected version of the report be sent to anyone who received your previous report within the past six months. Job applicants can have corrected reports sent to anyone who received a report for employment purposes during the past two years. When reinvestigation is complete, the credit bureau must give you the written results and a free copy of your report if the dispute results in a change. If an item is changed or removed, the credit bureau cannot put the disputed information back in your file unless the information provider verifies its accuracy and completeness, and the credit bureau gives you a written notice that includes the name, address, and phone number of the provider. You also should tell the creditor or other information provider in writing that you dispute an item. Many providers specify an address for disputes. If the provider then reports the item to any credit bureau, it must include a notice of your dispute. In addition, if you are correct-that is, if the information is inaccurate-the information provider may not use it again. If the reinvestigation does not resolve your dispute, have the credit bureau include your version of the dispute in your file and in future reports. Remember, there is no charge for a reinvestigation. Freezing Debt Once your debt is identified, your main goal is to keep it from getting worse and prohibit a barrage of new charges appearing on your statement. An easy and quick way to do this is the time-honored adversarial divorce technique of cutting off the credit cards. But, prior to taking that step, it is important to inform your spouse The way to do it is to call the number on the back of the card. But, keep in mind; you probably won't be able to cut off your spouse without cutting off yourself. If you and your are cooperating with each other (and remember, most spouses do), see if you can't agree on a card or two that will remain in effect for designated purposes subject to designated limits on spending. Choices You have two choices as you deal with the payment of your debts: 1) Agree to pay them off immediately or 2) Agree to be equally responsible for them. Get a free debt consolidation quote Pay Off If you have or if you have property that you can sell for cash, paying off your debts immediately is simpler, cleaner, and safer for both of you. Equal Responsibility Through Debt Consolidation If you both agree to be responsible for your debt, and you do not have property or assets to liquidate to satisfy the debt, an easier way would to be debt consolidation. The counselor will help you both identify the debts owed, devise a strategy for getting out from under them, negotiate, or eliminate your interest rate and perhaps be able to cut your payments by up to 70%. It's simple, sound, and reasonable! For more information visit our free debt consolidation quote area. Living With Debt - Live More Simply You really can do without some of those things that seemed so necessary a few months or years ago. Trade in your head-turning car for a nice sensible one, cancel the premium channels on your cable or see if they are offering other packages and bring your own salad from home instead of ordering lunch out. For realistic budget ideas visit our budget planning area. Three Loan Pitfalls "Risk-based pricing" Lender This is all the rage now among lenders. They lure people in with promises of quick and easy loan approval, and they usually don’t deliver what they promise. The problem is that the interest rates attached to these quick and easy loans may be sky-high, sometimes in excess of 20 percent a year. And be cautious for penalties or increased interest rates if you're late with a payment. Temporary "low-ball" Rate Let's be realistic here -- does it really matter what your lender charges you for the first six months, when you're going to be paying on average for several years? You need to seriously think through the total cost over the life of the loan. If you don't know what this is, insist that your lender explain it to you before you sign on the dotted line. If a lender is advertising a very low or even zero rate as an introduction, be very suspicious because you may end up paying for it later. Get a free debt consolidation quote Home Equity Loan Home equity loans make a great deal of sense for many purposes. Because they're secured, you can usually get a lower interest rate on them, and the interest is often tax deductible. The problem with home equity loans flows from their advantage: they're secured. If you fall behind on an unsecured credit card, your lender has to sue you to get the money, and you can reduce or eliminate the debt in bankruptcy. If you fall behind on a home equity loan, your lender can grab your house. Tue, 26 Sep 2006 18:43:00 +0200 Credit Report & Repair Scams
Newspapers, radio, TV and the Internet are filled with advertisements that offer for a fee to erase accurate negative information in your credit file. The credit repair scam artists who run these ads can't deliver. Only time, a deliberate effort, and a plan to repay your bills will improve your credit history record. This section is designed to help you understand credit reports and credit repair scams. Credit Reports Does your credit report accurately represent you? A recent study conducted by the Public Interest Research Group (PIRG) found over 70% of credit reports contain errors. Among the principal findings of the report were the following: * Twenty-nine percent (29%) of the credit reports contained serious errors that could result in the denial of credit." * "Serious" errors included false delinquencies, public records or judgments that belonged to a stranger, or credit accounts that did not belong to the consumer; Seventy percent (70%) of the credit reports contained mistakes or errors of some kind, also including the following: * Forty-one percent (41%) of the credit reports contained incorrect personal demographic identifying information; * Twenty percent (20%) of the credit reports were missing major credit cards, loans, mortgages, or other accounts that are critical to demonstrating consumer credit worthiness. Click here for your free debt consolidation quote now! One of the first steps to credit repair, is understanding credit reports. When applying for mortgages, home loans and refinances, one of the most important factors in determining whether or not you will be approved is your credit. This is true for other important factors as well, such as obtaining lower interest rate auto loans and credit cards. Good credit can open many doors. If you have had credit issues in the past, or are currently in a situation that will affect your credit, be prepared to address these issues upfront. The mortgage industry has its own language when it comes to your credit report. Mortgage lenders get their name from the grading system they use. Items that determine your credit rating (A+ to D-) are payment history, amount of debt payments, bankruptcies, equity positions, and credit scores. Credit scores are also known as "FICO" scores, and are used by the mortgage industry to determine credit risk. The higher the credit score, the better the credit risks. FICO stands for Fair Isaac Company, the company that created the original scoring system. Each credit bureau has its own unique system that allows them to offer a score based solely on the contents of the credit bureau's data about an individual. A numerical score at one bureau is the equivalent of the same numerical score of another. For example, a score of 700 from Experian indicates the same creditworthiness as a score of 700 from Trans Union or Equifax. However, the calculations used to determine these scores are different for each bureau. FICO scores range from 375 to 900 points. A score of 650 or above indicates a very good credit history. However, lenders do not necessarily give the same value to a particular credit score, and they do not necessarily use credit scoring! FICO scoring places a value on the types of accounts you hold, as well as your credit history. The formula that determines your scores, however, is not disclosed to the consumer. The 5 most important factors to determining your credit score are: * Your payment history * The amount of outstanding debt you have compared to your credit limit * Your credit history * The types of credit you use * Negative information Remember, FICO scores range from 375 to 900 points. A score of 650 or above indicates a very good credit history. free debt consolidation quote! Credit Repair Scams You've seen it in newspapers, maybe even heard it on the radio or television -- Erase accurate negative information in your credit file! -- The credit repair scam artists who run these ads can't deliver. Only time, a deliberate effort, and a plan to repay your bills will improve your credit record. This section is designed to help you understand the two top credit repair scams that are circulating newspapers, television, magazines and radio. Credit Repair Scam #1 - File Segregation If you filed bankruptcy, you may be the target of a credit repair scam called "file segregation." In this scam, you are promised a chance to hide unfavorable credit information by establishing a new credit identity. That may sound like a good idea but, file segregation is illegal. If you use it, you could face fines or even a prison sentence. Credit Repair Scam #2 - New Credit Identity If you have filed for bankruptcy, you may receive a letter from a credit repair company warning you about the inability to obtain credit cards, personal loans, or any other types of credit for 10 years. For a fee, the company promises to help you hide your bankruptcy and establish a new credit identity to use when you apply for credit. These companies also make pitches in classified ads, radio, TV, and the Internet. When signing up for the service you will be required to pay a fee and may be directed to apply for an Employer Identification Number, commonly referred to as an EIN, from the Internal Revenue Service (IRS). Typically, an EIN is quite similar to a social security number and is used by businesses to report financial information to the IRS and the Social Security Administration. After you receive your EIN, the credit repair service will tell you to use it in place of your social security number when you apply for credit, inform you to use a new mailing address and obtain additional credit references. That may sound like a good idea but, using false information is illegal and considered fraud. If you use it, you could face fines or even jail time. Credit Repair Company's And False Claims Credit Repair False Claim #1: You will not be able to get credit for 10 years. Each creditor has its own criteria for granting credit. While one may reject your application because of bankruptcy, another may grant you credit. And, given a new reliable payment record, your chances of establishing additional credit could probably increase as time passes. debt consolidation Credit Repair False Claim #2: The company or "file segregation" program is affiliated with the federal government. The federal government does not support or work with companies that offer such programs. Credit Repair False Claim #3: The "file segregation" program is legal. It is a federal crime to make any false statements on a loan or credit application. It is a federal crime to misrepresent your Social Security number. It also is a federal crime to obtain an EIN from the IRS under false pretenses. Further more, you could be charged with mail or wire fraud if you use the mail or the telephone to apply for credit and provide false information. Worse yet, file segregation likely would constitute civil fraud under many state laws. Your Rights Under The Credit Repair Organizations Act This law prohibits false claims about credit repair and makes it illegal for these companies to charge you until they have performed their services. It requires that companies tell you about your legal rights. Credit repair companies must provide this in a written contract that also spells out just what services are to be performed, how long it will take to achieve results, the total cost, and any guarantees that are offered. Under the law, these contracts also must explain that consumers have three days to cancel at no charge. Finding Help for Credit Problems It's a good idea to try to solve your debt problems with your creditors as soon as you foresee or realize that there is a financial problem. If you can't resolve your credit problems yourself or need additional help, contact debt-consolidation-Kimberly.com We are a full service debt consolidation organizations with clients nation wide that counsels and educates individuals and families on debt problems, budgeting and using credit wisely. We work directly with your creditors to help resolve your debt problems by negotiating a repayment schedule that is affordable for you and acceptable to the creditor. Wed, 20 Sep 2006 15:36:00 +0200 Take Your Debt Temperature
One thing our culture has become proficient at is developing measurement systems. We have precise measurements of health like the thermometer to take our temperature and other medical tools so we always know in precise terms how our body is doing. We measure the weather, our vehicles, the economy, just about anything we can measure, we measure it. Measurement gives us control over decay or change and gives us the signals we need to make changes before things go to badly wrong. In the same way, we should have in place ways to measure our level of debt. If you can get that same feel for whether your debt level is acceptable or beginning to become a problem, then you can take appropriate measures to get it in balance with the rest of your budget. Below we will present a questionnaire for you to review. You are familiar with this format. If you answer yes to more than a quarter of the questions, it is time to think about taking more aggressive action to resolve your debt. Debt Consolidation may be your answer. Moreover, the questions themselves will give you some feel for areas for you to address. So lets get started. 1. What is the level of your savings and are you adding to it regularly? 2. Do you sometimes have to use your credit cards to pay for necessities? 3. Is the percentage of your total cash flow that goes to debt increasing? 4. Do you have more than three credit cards or credit resources other than car or home? 5. Are the credit balances on your credit cards going up each month? 6. Are you maxed out or close to it on your credit limits? 7. Do you ever pay bills counting on the mailing time to cover when you will get the money in? 8. Do you have to use a calculator, spreadsheet or go check to know how much you owe on your credit cards? 9. Do you use high price cash advance services to pay off your credit cards sometimes? 10. Have you ever had a credit card declined because you were over the credit limit? 11. Do you know your credit rating? 12. Have you been declined for credit because of your high credit balances? 13. Have you overdrawn your checking account in the last three months? 14. Do you have debt collectors contacting you about your balances? 15. Do you make only the minimum payments on credit card debts? 16. Do you keep the level of debt a secret from your family so they wont worry? 17. Do you feel like you will never catch up? 18. Do you have a plan for getting out of debt? 19. Would one more big bill like a new car put your budget under? 20. At this rate, would the time to pay off your debts be more than two years? These are pretty tough questions and if you found yourself answering yes to the majority of them, then you know now that you have a credit problem. But believe it or not, recognizing the problem is the biggest step for getting a solution in place. Now that you have gone through the thought process, there are a number of steps you can take to get the problem under control. * Go and get all of your statements and review them, make a list or a spreadsheet of your balances, minimum payments and due dates. * Get a colander and mark it up with all the credit card due dates. Put that up somewhere so you are aware of them before they come due. Often times we let credit card due dates go by because we are avoiding the problem. Then you end up paying late fees and that hurts your credit rating even more. * Order a credit report. The big three credit reporting agencies are Experian, Trans Union and Equifax. You can go to their web sites to order the report. It isnt very expensive and it will give you an idea where you stand. I know that isnt a pleasant prospect but as we talked about earlier, knowing where you are is the first step to repairing your credit and getting out of debt. * Now the really hard part. Sit down with your spouse and discuss the problem. Prepare a report using your on line software or spreadsheet or just with a tablet and lay it all out where you are. Discuss budget cutbacks or additional work you can do to get the situation turned around. When you are done with these steps, you will feel much more like you have control of your budget again. Our Debt Consolidation and Credit Counseling program can assist you with your debt problem as well. Tue, 12 Sep 2006 16:15:00 +0200 Credit Repair - Truth about it
Credit Repair BEWARE! There are numerous companies throughout the United States that claim they can “fix” your credit reports for a fee. In most cases they do little or nothing to fix your credit reports. What ends up happening is these companies take your money and disappear with it and you’re left with bad credit and less money in your possession. Many companies also claim that they can create a new credit file for you by getting you a “New” Social Security number. This is illegal and never actually works. Did You Know? Your credit history is maintained by companies called credit bureaus. These are private companies that collect information reported to them by mortgage companies, banks, department stores and other creditors. These bureaus can legally report any accurate negative information for 7 years and bankruptcy information for 10 years. Any accurate negative items that are within the 7 (or 10) year reporting period cannot be erased from your report by anyone. Not even companies that advertise to “repair credit” can erase this information. Time is the only thing that will heal your credit report. By making consecutive payments when they are due, you will be able to show a more positive rating on your report, but your negative marks will not be removed. Steps to Check Your Credit You are entitled to see any information that the credit bureaus have on file about you. This is required by law. To find out what is listed on your credit report, you can follow these simple steps: # Contact the local credit bureaus. # Obtain a copy of your credit report. There may be a small fee if you haven’t been denied credit within the last 30 days, during which time it is free. # You can visit the credit bureau office to review your credit report in person. # Review your credit report for any mistakes. If you do not understand something, you can ask. By law, the credit bureaus are required to explain your report to you. If a mistake is found, notify the credit bureau of the mistake and provide them with as much information regarding that problem. A reinvestigation will be done to dispute the information (if legitimately incorrect) and make all necessary corrections needed. A corrected copy of your report should be sent to anyone who has received the incorrect version within the past 6 months. Are You A Victim? If you have ever encountered a serious problem with a credit repair company, you CAN report them. You can contact your local consumer affairs office or your state attorney general. Check with your local directory assistance to see if a toll-free number is available. You can also contact the Federal Trade Commission (FTC) to report any situations. Although the Commission cannot rectify individual credit problems for the consumer, it can act against a company if they see a pattern of possible law violations. If you feel a company has engaged in credit fraud you can send complaints to: Correspondence Branch Federal Trade Commissions Washington, DC 20580 Myth Credit Clinics and/or Credit Repair Services can “clean up” your credit report. Fact No one can legally remove accurate information from a credit report. However, you can request a reinvestigation on any of the information in your file that you dispute as inaccurate or incomplete. Get you FREE debt consolidation quote today. Have debt? Credit counseling can be your way out. |
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