Debt Settlement Companies

admin Uncategorized Leave a comment

Beware of debt settlement companies that do any of the following:

  • They say there is a “new government program” to wipe out debts
  • They guarantee your debts will go away
  • They tell you they can stop all lawsuits

Where to Get Some Advice

admin Uncategorized Leave a comment

Where to Get Some Advice

 

The National Foundation for Credit Counseling is a non-profit organization that offers counseling in the following areas:

  • Housing
  • Reverse Mortgages
  • Bankruptcy
  • Student Loans
  • Credit Reports

 

Their website is https://www.nfcc.org


Summons and Complaint

admin Uncategorized Leave a comment

If you get served with a Summons and another court document, such as a Complaint, take the matter seriously.  Generally, you only have 20 days to file something with the court.  If you get a Summons served on you, you should contact a lawyer to see what the case is about and what you need to file.


Employment Credit Checks

admin Uncategorized Leave a comment

An employer could run a credit check on you when you apply for a job.  Usually, this is done for jobs that handle money, like banking or accounting.  Under the Fair Credit Reporting Act, the employer has to notify you in writing and get your written authorization before they can run your credit report.  Your credit score is not affected when an employer runs your credit.


Credit Card Fraud Alerts

admin Uncategorized Leave a comment

You can ask your credit card company to set up a fraud alert so that you can be notified by e-mail or text when there is a charge over a certain amount.  But some fraudulent charges are made in small amounts.  The criminal could buy $5 worth of snacks just to see if your credit card works.  It may be a good idea to set your alert to zero, and then you will be notified any time a transaction is made to your credit card.


Service Members and Debts

admin Uncategorized Leave a comment

The Consumer Financial Protection Bureau gets 41% of its complaints from service members, but only 26% from others. Service members have faced problems with information being given to the commander of the unit and also with being called at work several times. It is likely a violation of the Fair Debt Collection Practices Act to tell a commander about the debt.


Credit Builder Loans

admin Uncategorized Leave a comment

Credit builder loans can help you improve your credit score. Try get a secured loan, which means you should have collateral for the loan. Make your payments on time, every time. Make sure the lender will be reporting to the credit bureaus or else it will not help your credit. Title loans and payday loans are not credit builder loans.


Pay-for-delete Letter

admin Uncategorized Leave a comment

If you have a debt on your credit report that cannot be removed, try doing a pay-for-delete. You can make a deal with the collection agency where you pay some or all of the debt, and they will remove the negative item from your credit report. Make sure to get the agreement in writing. This can be a good option if you actually owe the debt. Remember that there is no guarantee they will accept your offer.


Consumers Paid for Debts They Did Not Owe

admin Uncategorized Leave a comment

In August of 2017, the Federal Trade Commission charged a debt collection operation with taking money from consumers for debts they did not owe. The debt collectors used names that sounded like law firms, such as Cohen, Daniels & Moss. They threatened legal action and used profanity. Many people paid just to stop the harassment. If you question whether you actually owe a debt, ask the debt collector to send you information about the debt in writing.


Credit Repair Organizations Act

admin Uncategorized Leave a comment

In 1996, Congress passed the Credit Repair Organizations Act. Credit repair companies try to get negative information removed from your credit report, which should increase your credit score. The Act protects consumers in the following ways:
· The credit repair companies cannot misrepresent their services
· The company has to have a written contract with the consumer
· The consumer has 3 days to cancel the contract
· They cannot charge for services until the service has been done

Here is a link to the law:

LINK:

http://uscode.house.gov/view.xhtml?req=granuleid%3AUSC-prelim-title15-chapter41-subchapterII-A&num=0&edition=prelim


1 2 3 4 5 6 7 8   Next »
Website Design Copyright © 2013 Web Design by Elliottsweb.com Website designed by: Elliottsweb.com