What to do with extra money? Should you invest, save, or payoff high interest debt? Each person's situation is different, so there's no one straight answer. One thing to consider is if you have a credit card with a high rate and a large balance, paying it down may make more sense than placing the money into a 2% savings account. Also remember that investing can be a high gamble, so don't invest any money you simply cannot afford to lose.
Chargeoff credit card
- How to charge off credit card balances yourself, or get professional help from a debt settlement company.
Christmas credit card debt - Options on how to get help with too much Christmas credit card debt.
Consolidate student loan - Apply to refinance student loan debt for a lower interest rate and payments.
Credit card debt - Free help to get out of credit card debt and tips on how to avoid debt.
Credit card debt consolidation - Credit card debt consolidation quote to combine and lower monthly bills.
Debt collection agency rules - There are important facts you need to know before you contact; or are contacted by, debt collection agencies.
Credit counseling - Learn about credit counseling and how to choose a good company.
Credit counseling versus debt settlement - Decide which alternative is the best option for you.
Debt consolidation loan - Payoff bills with a debt consolidation loan.
Debt counseling - Lower monthly bill payments or reduce principal altogether.
Debt negotiation - Charge-off debt; reduce principal owed.
Debt negotiation sample letter - Do It Yourself debt settlement.
Get out of debt - Ways to get out of debt, either Do It Yourself or with a Company.
Government debt consolidation loans - Truth about government loans to pay bills.
Free debt settlement - Do It Yourself debt settlement to negotiate lower bills.
Joint credit card debt - Which spouse pays the bills (loans and credit cards) after divorce.
Negotiate debt settlement - Settle debt yourself with your loan and/or credit card company.
Nonprofit credit counseling - What to look for when choosing a credit counseling company.
Advantages of Nonprofit debt consolidation.
Nonhomeowner debt consolidation loan
options for nonhomeowners to pay off debt. Tips to Payoff balance
of credit cards and how to avoid the debt trap. Pay off debt
loan options and tips to pay off debt. Download our free Personal budget
software and instructions for our software.
Reduce bills free lower expenses. Reminders to pay bills
on time. Strategies to Repay payday loan.
Use our free software to Track expenses. Items
which qualify as Unsecured debt and how you
can combine bills into one monthly payment with Unsecured debt consolidation.
An Unsecured debt consolidation loan
may be best for paying off high interest debt, or you could Balance
Transfer Debt. Is your Personal
Debt Increasing? Debt
Settlement Facts about the negotiation process. Ending
the Debt Cycle with sound financial management and long-term planning. Economy
and Debt warnings. Debt
Consolidation and Debt Settlement differences. Pre-Bankruptcy
Credit Counseling per government legislation requires debtors to
first engage in credit counseling, AKA debt management. Divorce
and Debts on an Individual or a Joint
Spouse Account. Student
Credit Card Debts and options to Pay
Off Debt. Unknown
Debt Collection Agency calling and harassing
you about a debt you do not recognize? Know your rights and be alert to Consumer
Debt Late Payments. Debt
Settlement is one option for people to consider who are
too deep in debt for a repayment plan. Marriage
Debt-Lock - Wedlock could become Debt-lock. Avoid and recover from marriage
Bills VS Bad Debt In regards to loan repayments, there are good bills and
bad debt. Payoff
Credit Card Debt Solutions and alternatives and ways to stop more debt. Bankruptcy
Debt debts that can be discharged
by the courts. Fraud
and Credit Scams Target Debt People with big debts. Credit
Card Charge Off stats. Debt
Settlement Company FAQ - Can a debt settlement company really lower your
debt so you can pay off in a few years? Unpaid
Credit Card Debt - The amount of unpaid credit card debt escalates as
spending continues. Payoff
Debts Without Loans - Bills may be stacking up, but there are simple ways to
payoff debts and without using credit cards and loans, and without counseling or
to negotiate settlement. Long
Term Plan to Pay Off Bills - Long term plan to pay off bills and be debt
free within one year without counseling, settlement, nor a consolidation loan. $7000
Debt Question - I have about 7000 in
debt. My credit is not good . I am looking to change that I do not have
collateral to put down on the loan . Is there anyone who can help me? What
Is Unsecured Debt Consolidation - the
advantages, pros and cons over counseling and chargeoffs, or should you
negotiate settlement? Credit
Card Balance Transfer Debt - How to avoid; and get out of, credit card
balance transfer debt. Manage
Debt Yourself - Do-It-Yourself tips. Should you charge off or payoff bills, consolidate or negotiate
settlement? Debt Solutions
- Which one is right for you; and best. Christian
Loans and 7 Year Debt - Why is unpaid debt removed from credit reports after
7 years? Why not allow bad credit report entries to remain long term, beyond 7
years? Stop Credit
Card Debt Abuse - Stop credit card abuse for greater financial security. Calculate
Debt And Payoff - some form of debt is OK. Debt Collectors
are negotiating settlements. Debt
Collection Statute Of Limitation - Read our article about the debt collection statute of
limitation for how long creditors, bill collectors and debt collection agencies
may legally pursue repayment. Money
To Payoff Debt - consider debt
consolidation to combine and reduce monthly bills, credit counseling, or perhaps
negotiate settlement to chargeoff debt at a lower amount. Free
Debt Relief Advice and the Statute
of Limitations Debt Collection Act on how to deal with debt collection agency harassment and
how to negotiate debt settlement. Debt
Relief Tips - resources to deal with debt and making plans for Short
and Long Term Debt Relief. Biggest
Debt Mistakes - Avoid common
To Reduce Debt options. Debts And
Bills tips to manage personal finances. Debt
Free Money - The government free money (stimulus checks). Tips to Stop
Debt Save Money. Debt
Collection Agency Negotiation strategies. Debt
Collector Verification sample letter and advice on how to get a debt
collector to prove you owe money. Ways to Stop
Credit Card Debt. College
Student Credit Card Debt statistics. Debt
Settlement Vs Debt Consolidation - What is the difference? Debt Loan
Advice - Consider offers and
apply for a loan to payoff debt. Creditor
Rejects Debt Settlement Negotiation - What to do if a creditor rejects your
debt settlement offer and refuses all negotiation. Can
Debt Collectors Put Me In Jail for not paying my bill? Being in debt is
not a crime. Payoff
Credit Card Debt or get assistance. Old
Debt Collections - Zombie Debt
Collectors will try to get you to payoff old obligations like credit card debt
Beware of Fake
Phantom Debt Collectors. Stop
Debt Collection Agency Calls - You have the right under federal law to stop
debt collection agency calls. Harassing
Debt Collector Fined - A harassing debt collector was fined $2.25 million.
Review federal regulations and rules that protect your rights. Credit
Card Debt Advice. Budgets,
Debt Management, Consolidation, Settlement, Counseling and Bankruptcy - Create a budget and learn about your debt relief
Card Debt Default - Interest rate hikes to offset high risk may be
increasing credit card debt defaults.
High Rate Credit
Card Debt - could result in bank credit
limit decreases, even higher rates, and subsequently maxing-out and getting hit
with over limit fees. Debt
Collectors Violating Do Not Call List send a cease and
desist letter or a debt verification.
Collection Agency Tips to
help you deal with harassing bill collectors. Credit
Card Debt Relief loans. Cant
Make Credit Card Payments - When you cant make credit card payments or even
pay the minimum due, you have options. Ways you can Get
Out of Payday Loan Debt. Free
Tax Assistance for Seniors and Low Income and Tax Debt Help - There could be
help for getting taxes prepared if you are low-come or elderly through the
VITA or "The IRS Volunteer Income Tax Assistance" program. Tax
Debt Help - The IRS offers free tax debt help to settle
for a lower amount owed without filing bankruptcy. Stop
Bill Collector Calls and Threats - stop debt agency harassment Sample debt verification and debt
settlement letters. Do
It Yourself Free Debt Settlement or Use a Debt Negotiation Company - pros and cons. Student
Credit Card Debt - make higher repayments. Chargeoff
Credit Card Debt and Rebuild Credit Score - It may take time, yet eventually
you can rebuild credit after you chargeoff credit card debt. Chargeoff
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settlement company. Settle
Credit Card Debt - negotiate a larger settlement amount. Free
Tips to Avoid Credit Card Charges. Debt
Arbitrators Code of Ethics - Review the Code of Ethics of the International
Association of Professional Debt Arbitrators. Free
Debt Advice - signs and how
to control, manage and payoff bills. Old
Debt used to indicate debt that was several years
old, but now it has another, new definition: debt owed by elderly persons.
Counseling VS Debt Settlement VS Bankruptcy Filing - your three big options. Review
before choosing. Who
Pays Joint Spouse Debt after divorce or during
marriage separation? Lower
Credit Card Balances - A federal government report reveals lower credit card
balances for consumers. Getting
out of Joint Credit Card Debt - Information about applying for and getting
out of joint credit card debt. Credit
Card Debt Relief Options - choose the one that is best for your financial situation. Get
Out of Debt Free and Fast - professional advice and Legitimate
Debt Relief, Consolidation and Settlement. Debt
Settlement Advice to reduce the principal amount owed (and possibly interest and fees) on
an outstanding debt in exchange for prompt payoff. Credit
Card Debt Settlement may be a good option if you
are burdened to the point of filing bankruptcy. What
Is A Debt Management Plan, Counseling,
Consolidation and Other Debt Relief Options. Debt
Management Counseling Info and Advice. Be careful as Credit
Card Charges can cause Long Term Loan Debt. Debt
Management Tips to get finances under control. Secured
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relief options both free and paid. Credit
Card Christmas Debt - options to settle holiday card charges. How
to get out of payday loan debt - repay or negotiate a payoff settlement. Debt
Management Plan Advice - through a debt management plan (DMP) you deposit money each
month with a credit counseling organization. How
to Tell Debt Collectors Not to Call - You have the Right to Tell Debt
Collectors Not to Call You. College
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veteran apply to for student loan debt. Higher
Loans with Lower Interest Debt. Free Sample
Debt Settlement and Negotiation Letter to be used as a comprise letter to creditors.
debt collectors - many operate in
violation of federal law. Debt
Consolidation Loan or fnonhomeowner debt consolidation. Avoid and
Card Debt. Bill
Collector Bad Debt Collection - A new scam against credit consumers involves
debt collection agencies inventing past due bills and demanding repayment.
Inventing fake debt and trying to get money from consumers who don't even owe.
card debt cancellation letter - You cannot simply stop paying credit card
debts you had accrued. Even if you send your credit card company a cancellation
letter; and even if you tear up your card, you are still responsible. Debt
Glossary - Credit and Debt Definitions Dictionary. Help with holiday bills
Out of Christmas Credit Card Deb. Christmas
Debt Personal Loans - A long term debt consolidation loan to payoff
Christmas credit card bills or you could Chargeoff
Christmas credit card debt. Review all Ways
to payoff Christmas credit card bills and debts such as by using gift cards. Sue
a Debt Collection Agency and Reasons to Pay a Collector - Yes, you can sue a
debt collection agency for violating regulations. Bad
Credit Debt Consolidation Loan to Pay Off Credit Cards - I'm a non-homeowner
and I don't qualify for a debt consolidation loan. Is there a way I can get a
bad credit loan to pay off credit card debt? Debt
Collection Agency Contact Phone Number and Address - alphabetical listing of debt collection agencies with contact information such
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signs and verify references from legitimate resources. Secret
Tricks Debt Collectors Use - Divorce, bankruptcy and even dead debt beyond
the statute of limitations can be resurrected as Zombie Debt through secret
tricks debt collectors use. Before
You Answer Debt Collector Calls - understand your rights and be wary of mistakes other people often make. Stop
Payday Loan Debt Borrowing - some people continually obtain these short
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Debt Collection Dispute - If you received a medical bill you do not agree
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dispute letter. Settle
Deceased Person's Debt - When a relative or other loved-one dies, you
certainly don't want to be hounded by debt collectors who are ghoulishly seeking
debt payment. Banks
that Offer Debt Consolidation Loans for Personal Bills - Review a select
list of banks that offer personal debt consolidation loans. Track
Down Original Creditor for Debt Collection Agency - Don't payoff someone
else's debt collection agency. Track down the original creditor to make sure you
owe the money. Non-Dischargeable
Debt Bankruptcy Lawsuit - You file bankruptcy to avoid repaying debts, but
then a creditor files a non-dischargeable debt lawsuit to ask the judge (court)
to determine the debt owed is non-dischargeable. Christmas
Debt Consolidation Loan - to payoff
credit card bills in full. How
to Negotiate Christmas Credit Card Debt Settlement - It's not unusual to go
into the holidays with debt already on your credit cards, and then adding yet
more charges. Smartly
Recover from Christmas Debt - What is the smartest way? Christmas
Credit Card Debt Statement - How your Christmas credit card debt statement
knocked the holiday spirit out of you? Debt
Help with Payday Loans and end the cycle or borrowing. Charge
Off Christmas Credit Card Debt - How to Charge Off Christmas Credit Card
Debt Yourself. Debt
Help Without Ruining Credit - ways to get debt help without ruining
credit scores and may even improve. What
Debts are Discharged in Bankruptcy - An example listing of what debts are
discharged in Bankruptcy, Chapter 7 and Chapter 13. Common
Debt Terminology Definitions. Junk
Debt Collectors of Old Bills are
relentless in their pursuit of profit. Debt
Help for Unemployed People. Debt
Help for Medical Bills.
Writing Off Debt
Legally and have it forgiven What
Happens to Debt After Seven Years Statute? -
After the limitation has passed, many negative items can be deleted from your
credit report. That includes things like late payments, debt collections and
charged-off accounts. Government
Debt Relief Company Rules - Federal rules to
protect consumer rights. Debt
Consolidation Loan for Bad Credit People - Lenders worry that if you are having trouble paying your
current bills, how likely will you be able to repay an unsecured loan? Is
My Debt Too High - Most everyone's debt is too high. Bad
Debt Management Company Red Flags - Avoid Companies which make extravagant promises and deliver little. You
can consult The Association of Independent Credit Counseling Agencies; a
national association of non-profit credit counseling agencies, for a list of
member companies. Members of the AICCCA must be non-profit credit counseling
agencies who are properly licensed to business in their state. Debt
Help for People on Benefits - Debt Help for People on Benefits, SSI or
Senior Citizens Payday
Loan Debt Settlement -
payday loans are one remaining life-line of credit for millions of Americans. Credit
Card Company Debt Hardship Program - How a Hardship
Program Works Reduce
Bills free on your own or you can get professional
debt reduction assistance online. Good
Bills VS Bad Debt -there are good bills and
bad debt. What items should you borrow money for? $10000
Loan for Credit Card Bills - Need a $10000 loan to payoff credit card bills?. Long
Term Plan to Pay Off Bills - Long term plan to pay off bills and be debt
free within one year without counseling, settlement, nor a consolidation loan. Money
To Payoff Debt. Biggest
Debt Mistakes - Avoid common
errors so you can reduce bills, increase your profit margin and payoff high
interest burdens like credit card debt without having to negotiate a settlement
or get credit counseling. How
To Reduce Debt and
balance transfer. Debts And
Bills - Free tips to manage personal finances. Spouse
Died with Credit Bills - What you should do if your spouse died and left
behind unpaid credit balances and other bills in the spouse's name. Free
Debt Advice how
to control, manage and payoff bills including a personal budget, credit
counseling, negotiate debt settlement or an unsecured debt consolidation loan. Go
To Jail For Not Paying Bill - Can you go to jail for not paying bills?
Credit Card Bills for Rewards - When you pay credit card bills on time, it's
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you cannot pay credit card bills, consider options. What
Is A Debt Management Plan. Counseling,
Consolidation and Other Debt Relief Options. Chargeoff
Credit Card. Need
Loan to Pay Bills - I hope I'm not wasting anyone's time, but
we are in a desperate situation and I'm hoping your company may be able to help
Credit Card Bills help to eliminate or pay
off Christmas bills. Ways
to payoff Christmas credit card bills and debts - You could use gift cards. Medical
Bills Bankruptcy Filing - You have options to file for medical bankruptcy:
Chapter 13, 11 or Chapter 7. Medical
Debt Collection Dispute - how to write a medical debt collection
dispute letter. Banks
that Offer Debt Consolidation Loans for Personal Bills - personal debt consolidation loans. Unpaid
Medical Bills Affect Credit Score - Currently unpaid medical bills are
identified on credit reports. Junk
Debt Collectors of Old Bills are
relentless in their pursuit of profit. Debt
Help for Medical Bills - Ways you can get debt help to handle medical bills.
Party Personal Loan Lenders Can Sue
for Debt Brought Into Marriage
Spouse Joint Debt and Divorce
and Stop Credit Card Addiction
Loan Debt Settlement
Rid of Medical Bill Impact on Credit Scores
Collectors Using FaceBook
Card Company Debt Hardship Program
How to sue a payday loan company if you have too much interest (fee) debt.
Best debt management program: find out which is best for you.
Good or bad credit auto loan quote. Apply for a new or used auto loan, or for car refinancing.
Credit Card: Search for a gold rewards or a bad credit card. To rebuild credit, get an instant approval credit card. Browse unsecured platinum and guaranteed credit card offers.
Credit Report: Free credit report help to fix credit report errors and improve credit score ratings.
Free Credit Offers: Get no obligation credit offers and receive alerts and tips to manage personal finances.
Home Loan: Stop paying rent and live the American dream.
Mortgage Refinancing: 2nd mortgage loan for remodeling, equity cash out or a debt consolidation loan.
Payday Loan: Get a good or bad credit unsecured loan with no credit check and no collateral.
Personal Loan: Short or long term personal loan.
Personal Finance: Create a personal budget, balance a checkbook, file bankruptcy and more.
Free Help: Personal finance newsletter, credit advice and tips.
Interest rates: National averages of credit card, mortgage, refinancing and auto loan interest rates.
Snowball Debt Payoff Method - The debt snowball method involves paying off debts from smallest to largest, regardless of interest rate. What you do is pay off the loan or credit card with the smallest amount owed, so you end up with fewer accounts to pay on.
Some recommend paying off a larger debt ahead of a smaller one when you owe the IRS, or if you are trying to stop a foreclosure.
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There are important facts you need to know before you contact; or are contacted by, debt collection agencies. Review collection agency rules.
Collection Agencies & Government Rules
Before you talk to a debt collection agency, first review these facts:
* Debt collectors have heard every sob story, and they will likely believe you are a liar anyway. Although they may seem sympathetic, they note your excuses as 'HLS' (Hard Luck Story). You're simply wasting their time, and to them time is money, so they will keep pushing for payment no matter what you say. They'll make suggestions such as borrowing money from friends and family, withdrawing from your 401k, or even paying off the debt with a credit card (or a different credit card if the collector is calling to recover a credit card payment).
* Debt collectors do not share your opinion you have about them. They feel they are; and may very well be, a vital part of the economy. Collection agencies do in fact help companies collect accounts that may otherwise end up 100% defaulted, thus they help to level the economy.
* Debt collectors earn a bonus based upon how much money the collect. Successful debt collectors earn bonus revenue of $10,000 or more - a month! That's why your collector is so aggressive. If you are unable to reach a settlement agreement with the collector you're talking to, hang up and call back later and hope for a different collector who is more willing (or desperate to earn a bonus) to reach a settlement agreement beneficial to you.
* Debt collectors can agree to a settlement arrangement in virtually any percentage. Most debt collectors are authorized; before they even call you, to accept a settlement offer. Typically; without much negotiating hassle, you can get a preapproved reduction of 15 to 35 percent on credit card debt, and up to 50% on other debts. With additional negotiating, you may be able to get higher savings. Just make sure you and the collector are talking about a "payoff settlement" and not a "payment agreement" which would require the balance to be paid later. The reason why you can negotiate a lower payoff, is because a lot of agencies buy debt for pennies on the dollar. So start off by offering 25 cents on the dollar, such as "I have $300, will you accept that as payment in full?" If you reach a settlement agreement, some collectors may claim to be trained to take your application. But they already know your information, right? So why are they asking for your cell phone, your spouses cell phone number, your work number? It's a way to get the information they need to find you in case the settlement falls through. So before you give additional personal information or send your check, first get them to confirm; in writing, the settlement amount and that the settlement payment will payoff the debt in full.
* Most 'debt collection managers' are merely debt collectors themselves. Sometimes during the negotiation process, your debt collector may say he/she needs to get a manager involved (which is actually simply another debt collector). The other debt collector will pretend to be more harsher, so you'll end up feeling grateful for the offer the first collector quoted you. And subconsciously you'll feel like you are outnumbered and more ready to give in. And don't even bother to ask for a manager. You're better off just calling back and getting a different collector on the line to negotiate with.
* Debt collectors will try to recoup debts which are beyond the statute of limitations. So first make sure the debt is still 'live'. If the debt is beyond the statute of limitations, debt collectors cannot sue you nor put it in your credit report. However, if you make any kind of payment; or even acknowledge the debt, that usually reactivates the account.
* Debt collectors will call you at work in hopes of
embarrassing you to pay up. To get them to stop calling you at work, specifically ask them not to and by law they have to stop.
* Many debt collectors use automated phone dialing/messaging which is just a recording of a fake person. When you call back and ask for that person, the agency may say he's out to lunch and offer to help you instead.
* Debt collectors are forbidden by law to threaten to have you arrested, to use profanity, or to call before 8 am or after 9 pm. If a debt collector violates these regulations, report the matter to your state attorney general's office
www.naag.org and the Federal Trade Commission
www.ftc.gov - Those are violations of the Fair Debt Collection Practices Act.
Debt Collection Agency Secret Strategies to Contact You and make You Pay:
Using data mining companies to find as much contact information about you as they can, like your email address, phone, physical address and place of employment.
Contacting your family and neighbors at your old address as well as your new address.
Searching social networking sites like Facebook, MySpace, LinkedIn and other networking communities. Your profile or blog may tell a debt collector where you work, who your friends and colleagues are, the names of your spouse and children and so forth.
Pretending that they're an old friend looking to reconnect with you. Using information they've found from any of the above sources, they’ll call an unsuspecting employer, friend, neighbor, or family member. The person on the other end of the phone feels like they’re helping two old friends get back together and gives them your cell phone number, work number or home number, new address, and/or email address.
Reviewing your credit report: Collectors often have enough information about you to know your current financial status. Be aware that if you're in a negotiation with a creditor, they're going to have a lot of information on you. Be aware that if you have a car payment and that's up to date or credit cards that are open and up to date, a collector is going to see that and say, 'Why aren't you paying the bill I'm trying to collect?"
Things not to say to a debt collector:
Do not readily admit to the debt. First, check to see if the debt has expired; or is about to exceed your state statute of limitations for debt. If; for example, your state's statute of limitation is 5 years and the debt is 6 years old, the collector cannot pursue you unless you 're-activate' the debt by admitting to it. Also, if the debt is soon to reach your state's statute of limitation, admitting to the debt will start the clock over. Thus is the limitation is 5 years for your state, and the debt is 4 years and 10 months old, by admitting to the debt you'll start the clock all over and the collection agency will have yet another five years to collect from you.
Do not acknowledge the debt even if you know it is yours and even if you have the money to pay. First, make the collector prove you owe the debt. If the collector does not have copies of the agreement you had with the creditor and cannot prove you owe the debt, they cannot sue you for payment. If they cannot produce the documents, tell them to discontinue pressing you for payment of something you do not owe.
Don't let the collector know you are concerned about your credit score, or that you want to make sure you can get approved for a loan or credit card. A debt collector can prey upon your weaknesses. When negotiating a settlement agreement, you don't want the collector to have an advantage, nor an impression that he/she won't have a difficult time getting you to pay. You want collectors to think you really don't care and; basically, you'll give them a little money to completely settle the debt just to be done with it. Otherwise if they won't deal, you'll just ignore their calls.
Don't give a collector your credit card number nor send a post-dated check. Even if you desire to pay the debt, giving a collector open access to charge any amount to your credit card could turn out badly. As for a post-dated check, there's no requirement for a bank to not cash it until the posted date. You should send your check payment expecting the collector to cash it right away. In the memo line, place a note to the effect: "Debt Payoff In Full" along with the account number created by the creditor. As mentioned in our other article, don't send your payment until you receive the settlement agreement in writing and it meets all your expectations.
Debt collector offering settlement: Since the best time for you to conduct settlement negotiations with a collection agency is at the end of the month, if the collector is offering a fair settlement at that time it's likely because he/she is desperate to earn a collection bonus. Collectors prepare for you to reject their first offer, so they don't offer as high a discount. You're very likely to get a better deal if you haggle and turn the pressure on the collector instead of letting the collector pressure you. You can pressure the collector to accept your offer by letting them know you owe other debts which you may settle soon as they are offering you a good deal, so you'd rather settle with them first and maybe later re-negotiate.
Debt collector script - Per federal law, debt collectors are required to state their name, the name of the collection agency they are working for, and the creditor they are representing. Typically the phone call will start like this: "Hello, [Skip Debtorman]? Hi, my name is [Bill Collectorguy], and I'm calling from [Debt Collection Agency], on behalf of [Creditor you owe] regarding the [$##### debt owed]. First off, I need to let you know this call may be be recorded for quality assurance and this is an attempt to collect a debt. Any information obtained will be used strictly for that purpose."
Debt collector calling wrong number? To get in touch with you; in addition to any cosigners you may have had, debt collectors will call your friends. Debt collector calling
relatives, too? A debt collector harassing family is one of their tactics, not only to contact you but to also pressure you to pay up. Collectors will contact family members and people whom they suspect may be family members, typically based upon last name. They know it's not likely that you'll be reachable at those phone numbers, but they will call in hopes the answering party will voluntarily give them your contact information, perhaps so they will contact you and stop calling and harassing them. In other words, they are hoping those people will turn on you just so they will no longer get disturbed by collectors seeking you. And perhaps you'll be so embarassed by the calls that you'll pay up.
Debt collector automated calls (robocalls): The federal; and state, Do Not Call Lists also applies to collection agency robocalls. Since many of these automated calls do not provide an opt-out option, you can nonetheless
unsolicited phone calls and the company may be fined. You can match debt collector phone numbers seen on your caller ID to our directory listing of collection
Debt collector associations - Below is a directory of debt collection agency phone numbers:
Absolute Resolutions Corp 800-713-0670
Applied Income Sciences, LLC 415-373-6981
Arches Financial, LLC 801-466-2130
Asset Acceptance Capital Corp. 586-446-7826
Capio Partners, LLC 678-682-3680
Collins Financial Services, Inc. 800-570-5007
Contact Solutions Group , LLC 732-214-2663
Crown Asset Management, LLC 770-817-6700
Debt Trade Partners, LLC 888-828-9957
Fourscore Resource Capital, LLC 952-253-6300
Genesis Financial Solutions 503-268-5815
Global Debt Network, Inc. 866-559-4339
Hudson & Keyse, LLC 800-654-1660
International Credit Services, LLC 707-255-9800
National Capital Management 888-707-4099
NorAm Capital Holdings, Inc. 888-886-6726
Nu Sun Financial Services, LLC 908-756-9988
Oliphant Financial, LLC 888-632-5111
PEC LLC 212-461-0856
Portfolio Recovery Associates, LLC 757-961-3533
PPC Distributors, LLC 714-227-0617
Professional Recovery Systems, LLC 800-308-5101
The Judgment Group 410-643-3310
West Asset Management 770-618-2206
13 One, LLC 901-758-5766
A P SOLUTIONS 716-725-0290
A. A. Action Collection Co. 973-740-0044
Accounts Recovery Corporation 888-254-1998
Accounts Retrievable System 516-783-6566
AccuSearch Information Systems, Inc. 519-686-0015
Acquisition Management, Inc. 478-471-6484
Action Capital Investments, Inc. 805-584-1000
Action Financial 602-493-8630
ADVANCED CALIFORNIA COLLECTIONS INC. 800-880-6020
Affiliated Collection Services, LLC 573-234-2613
Afni, Inc. 800-767-2364
Aktiv Kapital Canada Ltd. 519.432.0075 ext 2355
Alec Burlington Credit Management 31-348436565
All Debt Traders, LLC 866-238-2160
All Seasons Professionals Inc 443-616-7587
AMERICAN DEBT ANALYTICS 952-905-3306
Apex Capital Holdings, Ltd 702-979-4447
Archstate Financial 866-276-2724
Ariel Financial services 972-242-1767
Arrow Financial Services LLC 636-281-3338
ASA FINANCIAL LLC 609-858-2826
Asset Acquisition Group 303-694-0031
Asset Acquisition Group LLC 303-694-0031
Asset Maximization Group, Inc. 800-280-9770
Asset Recovery & Management Group, LLC 781-433-0222
Asset Recovery Solutions LLC 876-383-3745
Associated Receivables, Inc 706-868-5566
ASTA FUNDING INC. 516-431-5338
B & O Global Ltd (44) 7743813784
BAL Financial LLC 617-595-5794
BARRY R. GOLDMAN 866-648-6537
BAY Collection Services 740-417-4118
Bayview Financial Solutions 727-823-4500
Beltway Capital Management 615-883-1792
Big Sky Research Bureau, Inc. 208-936-4701
Big Ten Capital Management 612-331-6544
Boulder Credit Services 248-434-5114
Boulder Credit Services Inc. 877-972-9669
Bowsprit Financial Corp. 847-410-2726
Bradford Collins, LLC 678-468-8370
Burgeon Financial LLC 803-361-8821
Calloway Holdings 281-914-8636
Canyon West Financial, LLC 800-717-6009
Capital Adjustment Services, Inc. 952-930-0200
Capital Alliance Financial LLC 616-940-1190
Capital Assistance Group 617-965-2000
Capital Finance 760-776-5749
Capital Financial Group, Inc. 770-232-9016
Capsheaf Investments LLC 303-444-4002
Capstone Financial, LLC. 847-780-4742
Care Principium 91204031517
Carousel & Associates, LLC 716-909-4386
Cash Stream Recovery, LLC 407-478-4900
Cavalry Portfolio Services, LLC 602-667-0128
Cavalry Portfolio Services, LLC 914-347-3440
Cedarcrest Capital LLC 917-535-0331
Central Ohio Credit Corp 888-737-2622
Charge-Off Clearinghouse 512-502-0300
CIR, Law Offices 800-496-8909
Clost & Associates LLC. 716-835-2226
CNE & Associates LLC 716-471-1964
CNH Capital 262-636-5565
Collect America, Ltd. 303-713-2008
Collection House 2.54204E+11
Collections Group LLC 405-308-7402
Cosmos Financial, LLC 505-898-7223
Courtcases USA Inc. 404-795-1694
Covenant Management Group, LLC 770-287-1131
Creative Financial Solutions 269-353-9238
CREDIT BUREAU OF NORTH AMERICA (CBNA) 615-446-7128
Credit Card Reseller, LLC 952-679-4387
Credit Corp Group 617-417-9489
Credit Corp Group Limited 612-934-7360
CreditMax LLC 561-352-2220
Creditor's Rights, Incorporated 216-832-4154
Creditors Service Company of Michigan Inc 248-486-4245
Crescent Recovery, LLC 866-807-2010
CR-ONE Solutions 716-823-0091
CSG Acquisitions, Inc. 201-592-0724
CSG Acquistions, Inc. 201-797-8200
CSI Financial Services 858-200-9201
Cummings, Mlcorey, Davis & Acho 734-261-2400
Cypress Financial Recoveries, L.L.C. 201-385-7900
Dahlink Financial Corporation 302-593-4340
Debt & Collection Eliminators 407-760-0890
Debt Buyers Management 661-303-5081
Debt Management Partners 716-909-4773
Debt Management, Inc. 508-553-1904
Deburygroup L.L.C. 207-999-9999
Dodge Enterprises, Inc. 904-509-1383
Dominion Credit Services 678-461-5550
DTC Global, Inc. 917-273-9222
Dumont Capital 214-965-5000
Dunstone Financial, LLC 602-275-1616
Eagle Group, LLC 724-657-1889
Ecklipse Technologies 347-661-4876
Elite Collateral Recovery, Inc 800-625-7376
Elite Recovery Services Inc. 716-270-2200
Empire Legal Recovery Services 877-376-0937
EnCircle Collections 305-592-7800
encircle inc 800-957-6600
Encore Capital Group 858-560-2600
Encore Capital Group, Inc 858-309-6019
Erin Capital Management 212-660-3146
ESM Enterprises 850-471-5081
Excelsior Funding Group, Inc. 770-963-4582
Fairfax Financial 770-912-3670
Fairway Financial Solutions LLC 972-869-7659
Faith Investment Group 404-641-2716
Falcon Collections Inc. 832-300-6007
Financial Debt Recovery Limited 800-763-3328
First American Portfolio Company, LLC 513-317-9328
First Amherst Financial of Colorado, LLC 303-331-8072
First Coast Receivables, LLC. 904-514-9494
First Commercial Credit Corp. 914-288-8668
First Financial Asset Management, Inc. (FFAM) 404-523-9901
FIRST GLOBAL INTERNATIONAL SERVICES LLC 404-762-0006
Fly Financial Services, LLC 866-433-1518
Fourscore Resource Capital, LLC 952-253-6300
Fredrickson International Limited +44 1932 333000
Freedom Financial Services 281-829-1192
G L Recovery Group, LLC. 562-697-7237
Gault Financial, LLC 865-862-1120
Genas Management 404-604-4907
GFS, Incorporated 573-875-7966
Glass Mountain Capital LLC 800-583-0905
Glengarry Capital, LLC 314-994-1331
Global Acceptance Credit Corporation 817-288-0266
GLOBAL RECOVERY SERVICES 770-491-9993
Gold Line Credit Services, Inc. 530-661-4350
Government Portfolio LLC 301-718-9742
Great Lakes Asset Management, Inc. 888-447-9610
Greens Financial LLC 402-291-8900
Grimley Financial Corp 856-672-1014
GT Services, Inc. 949-788-2990
Guaranty Financial, LLC 717-757-0067
H. Joshua Chaet 847-436-0008
H.A.P. Group Consulting L.L.C. 501-960-5395
Hall Burg & Associates 763-367-6200
Hamilton General Financial Corp. 317-773-3583
Harper & White Inc. 201-445-0570
Harris & Harris, Ltd. 312-423-7436
Harvest Credit Management, LLC 303-531-0631
Heartland Credit Management 913-451-5898
Henderson Goldberg & Clarke Inc 619-572-2997
High Mountain Funding Inc 973-423-1842
Hilco Receivables, LLC 817-885-8011
Hirshberg Acceptance Corp 734-261-2616
HMCC Inc 773-592-8167
HSW Financial Recovery, LLC 713-590-4172
Hudson & Keyse, L.L.C. 800-654-5391
Imextrade +48 326780017
Imperial Recovery Services 562-944-4522
Insource Financial Services LLC 631-424-1122
Instat Investments Inc. 800-466-2854
Integrated Account Systems 706-356-4299
Intergraded Financial Resources, LLC (IFR) 586-431-0100
international recovery associates 404-559-1220
Investment Capital Recovery LLC 480-282-8422
INVESTOR SERVICES INC. 714-625-6573
Island Trading International, Inc. 917-440-6934
J and K Investments 619-517-3611
J. P. Trust Company 914-712-3557
Jack Wolf PA 863-644-3747
Jacobs, Marsh LLC 716-568-8468
Jormandy, L.L.C. 757-747-6200
JR COLLECTION AGENCY 810-248-0313
Judgment Enforcers 404-934-5146
KND RECOVERY SERVICES 770-682-8006
Kramer Credit Services, LLC 401-438-9000
LA Debt, Inc. 678-595-9215
Law Offices of Andrew Becker PLC 757-340-7600
Leader Asset Management, LLC 404-417-5174
Legal Enforcement Service 410-585-0091
Lindquist & Trudeau, Inc. 800-996-9556
Lion Capital Group 866-300-2566
Litigation Enforcement Group 443-485-9527
Llewellyn Capital 46704163977
Luna Stelle Collections, II, LLC 518-489-0530
Mader Acceptance Group, LLC. 973-948-4575
Mako Financial Services, Inc. 954-922-3999
Marshall, Greene & Associates Inc. 866-702-7807
Mattia & associates 619-312-0539
Maximun Result 862-368-3625
Merchant Management, Inc. 615-309-4992
merchant solution recovery 678-665-9727
Merchants Credit Recourse 248-565-2093
MERCHANTS RETAIL CREDIT ASSOCIATION 800-441-9652
Messerli & Kramer P.A. 763-548-7926
Michael Todd & Associates, Inc. 502-329-0219
Mid America Credit Management 866-560-2221
Midwest Asset Control 402-933-0015
MJ Recovery 800-774-9198
Moonbeam Investment Corporation 312-263-2022
Morgan Macklin L.L.C. 888-212-0114
Mortgage First, LLC 801-660-4635
MV FINANCIAL CREDIT INC 312-850-2833
National Account Adjusters 913-636-4461
National Credit Acceptance, Inc 916-830-0501
National Credit Solutions 800-384-0585
National Judgement Recovery 603-357-2922
National Note Buyers, Inc. 607-754-1521
Nationwide Capital Group, Inc 949-481-8240
Nationwide Discover & Recover, LLC 718-874-8171
New Century Financial Services, Inc. 973-753-9415
NEW GEM AGENCY 973-941-1105
nobel recovery services llc 714-225-8096
OCO FINANCIAL 419-366-4202
Odyssey management Group 248-865-8181
Old Canal Financial 714-921-2727
OREGON ACCOUNT SYSTEMS, INC. 503-231-3996
Ousley Financial Group, LLC 888-743-6340
Outsource Recovery Management, Inc. 800-241-8424
Outsourcing Solutions Inc. (OSI) 678-474-4022
Oxford Funding, LLC 508-987-6232
Ozark Capital Corporation 501-370-9900
P & B Acquisitions LLC 716-891-5826
Park Finance 469-484-5802
Partners Financial Services 636-207-9100
PCA Acquisitions 973-827-7121
Peak Credit Services, LLC 877-586-1477
Performance Capital Management LLC 714-736-3790
Pierce Enterprises 501-815-4155
Pierce, Andrews, & Young Inc. 603-244-2463
Pinnacle Asset Group, L.L.C. 716-675-1441
Plaza Associates 212-330-9622
Portfolio Funding Services 800-533-5783
Portfolio Group Investors, LLC 847-304-9401
Portfolio Management 614-522-0489
Portfolio Management Canada Inc. 519-432-0075
Praxis Financial Solutions, Inc. 847-676-1111
Premier Partners 713-706-6327
Prestige Alliance, LLC 817-885-8011
Pride Financial 609-954-0724
Prime Asset Management 716-909-2426
Primer Line Services LLC 703-348-3426
PrimeTex Services 832-338-0198
Professional Placement Services, LLC(PPS) 414-220-4100
PROFESSIONAL SYSTEMS 507-345-3453
Profits 4 Investors, LLC 623-565-0885
PUN Collections, LLC 410-602-8480
QUALITY CREDIT INC. 845-352-1700
Questus Enterprises, LLC 317-698-8023
R & R Financial Services, Inc. 904-207-8433
Rausch, Sturm, Israel & Hornik, S.C. 414-328-1400
ReCLAIM, Inc. 910-793-8391
Recoveries Management Pte. Ltd. +65 96188383
Reliance Debt Relief 386-585-3226
Resurgence Financial, LLC 847-581-2700
Resurgence Financial, LLC 847-656-2194
Resurgent Capital Services 864-248-8700
Revco Capital 877-226-6701
Risk Management Alternatives, Inc. 770-925-5000
River Capital Partners, LLC 203-661-3077
RIVERWALK HOLDINGS, LTD 817-251-7000
RLK & Associates 503-731-8021
ROMADOR Enterprises, LLC 716-903-2420
Rosenthal, Morgan And Thomas, Inc. 314-786-0070
Ross Klein Capital Management 248-851-5009
Routhmeir Sterling, Inc. 319-362-1188
Runci Group 401-619-1360
Samson Financial, LLC 205-969-1606
Security Credit Services, LLC 662-513-5429
Select Portfolio Servicing 801-293-2686
Sempelton OÜ 37253400222
Seplovich Consulting 650-244-9999
SIMON CHASE & ASSOCIATES, LLC 678-291-9906
SM Financial Services Corporation 908-996-3716
SMS Financial, LLC 602-944-0624
Soloman Group Inc 650-235-5337
Solstice Recovery Group 770-924-5792
Sonatrac Financial LLC 800-994-3239
SOUND CREDIT SERVICES, INC 425-339-0855
South Lake Financial Services 732-363-1226
Southern Recovery Systems LLC 305-667-9043
Starcast Group 817-284-8165
Sterling Finance & Credit Services, Inc. 713-783-1675
Sterling Recoveries 212-563-9884
stm Asset Management 678-368-9856
SunLAN Corporation 714-289-9413
SunLAN Corporation 714-289-9413
Sunrise Credit Services, Inc. 800-208-8565
Sussex Group, Inc. 888-708-7108
Sycamore Financial Services LLC 732-263-9700
T.Goolsby & Associates 602-299-6116
Tekbuzz Marketing Limited 919-428-6012
The Bureaus, Inc 847-328-4300
The Collection Bureau 303-451-7282
THE HANOVER GROUP LLC 818-501-9276
The Landberg Group, Inc. 952-891-5751
The Lineage Group, Inc. 716-821-5550
The Maiden Company, LLC 509-529-8700
The Outsource Group 573-874-1182
The Rock Financial, Inc. 866-712-6990
The Sagres Company 858-334-4454
Thornton Financial Services, Inc. 443-512-0832
TNT Debt Recovery Services 714-447-4680
Total A$ets Recovery, Connection 817-842-9067
Travelers Acceptance Corporation 1-800-667-6640
Trifi L.L.C 877-268-9286
TSF Financial Services, Inc. 303-320-8359
Turnkey Asset Recovery Solutions 419-973-5205
U.S. Equities 203-966-8555
United Bureau 508-669-3133
UNITED RECEIVABLES LLC. 866-898-6674
United Recovery, Inc. 818-676-1407
United Resource Systems, Inc. 303-205-0152
Vanderbilt Group, LLC 860-402-9959
VITAL Serivces Inc 402-465-5664
VMC Investments, LLC 215-783-3254
WCS Collection Services, Inc. 866-470-9700
Web Capital, L.P. 267-514-9642
WIN-WIN RECOVERY SERVICES 619-518-5560
Workout Solutions 857-233-2487
WorldNet Recovery Systems 866-977-5250
Worldwide Asset Management 770-618-3736
Worldwide Collection Services 949-338-2688
Wright, Scott & Associates, LLC 410-581-0202
Zenith Acquisition Corp 716-799-0511
Debt Collector Negotiation Secret for You: You may stand a better chance of negotiating with a collector near the end of the month, because it is getting close to the end of their ability to earn bonus revenue.
Stop Debt Collector Calls to Employer - One of the bits of personal info you don't care to have your boss know about, is your financial situation. Difficulties with personal finance could jeopardize promotion opportunities and being selected for sensitive duties such as accounting.
Although it's in the debt collector's best interest for you maintain employment, at the same time what good is it for them if you have a job but you're not paying the bill? If they cannot reach you by other means, you force them into the position of having to call you at work.
Fortunately the Fair Debt Collection Practices Act specifically defines the situations that a collector can contact your employer and they're generally not allowed to let it slip that you owe a debt.
Federal Law on Collector Contact With Debtor Employers - The Fair Debt Collection Practices Act allows debt collectors to contact certain third-parties but only to get contact and location information about you and this DOES include your employer. Debt collectors can contact your employer to confirm your employment, which they might get from your credit report, the original creditor, or from another third-party. They can only contact your employer once, unless the employer gives permission to make contact again. The collector is also allowed to contact your employer again if the collector believes the employer gave them false information.
Even though the collector has the legal right to find out information about you, they have a legal obligation not to give out information regarding why they're calling. Whenever a debt collector contacts any third-party to get your contact information, including your employer, they're not allowed to reveal that they're a debt collector or that they're collecting a debt.
In their efforts to get you to pay, debt collectors can contact you at work unless they know or should know your employer doesn't allow you to accept those types of calls at work. You only have to inform the collector that you can't receive personal calls at work and they'll no longer contact you. However, if the collector doesn't have any other contact information for you, they may call your friends, neighbors, or employer to figure out how to get in touch with you. Protecting your job and your reputation is yet another huge reason why you should not avoid debt collectors, but instead try desperately to work with them.
In many cases, debt collectors will only contact your employer if they can't contact you. So if you've been dodging their calls and letters, there's a greater chance collectors will start looking for you elsewhere. Paying or settling the debt collection will cease all current and future debt collector communications.
If you've given your employer permission to check your credit report, for example if you're up for a promotion or salary increase, they'll learn about your collection. Whether the collection will be used against you will depend on your employer and the position or raise that you're being considered for.
Impact of a Debt Wage Garnishment - The debt collector can also contact your employer after they've gotten a court order to garnish your wages. A wage garnishment can only happen after the debt collector has won a lawsuit judgment against you and has gained permission from the court to garnish your wages. Thanks to the Consumer Credit Protection Act, your employer can't fire you for just one wage garnishment. But, if you have multiple garnishments, the law doesn't protect your job.
How to Stop Debt Collector Contact - Use a debt validation letter to delay collectors by forcing them to send proof that the debt is yours and that they're authorized to collect it from you. It's also a good idea to request validation on debts that you don't believe you owe.
You can use a cease and desist letter to stop debt collector calls for a particular collection agency. Note that debt collector calls may resume if another collection agency purchases or is assigned to that debt.
Wage Garnishment VS Wage Assignment - What's the difference?
Wage Garnishment: A court enters a judgment against a debtor and allows the creditor to have a portion of the judgment amount automatically taken out of the debtor's paycheck. This process is called a wage garnishment. Many states have regulations that limit how much a creditor can "garnish" from an individual's wages.
Wage Assignment: A debtor agrees to repay through voluntary installments automatically deducted from paychecks. A collection agency may convince a debtor to agree to have the employer send a portion of his wages directly to the creditor. The assignment, in effect, works similar to a wage garnishment, but the consumer does a wage assignment voluntarily. The court has no role in this action. In some states, a wage assignment may violate state laws.
Why creditors use debt collectors:
Demand for payment letters from the creditor were ineffective. When a creditor has already sent several reminder letters about a debtor's outstanding account, chances are the debtor was not motivated by any of those letters.
When an account becomes 60 days past due, the creditor's chances of recovering the money drastically drops.
Many people have a greater reaction when they receive a 3rd party debt collection notice. They worry about their credit score and that a collector may sue in court for payment.
Some creditors do not have the resources to track down debtors who have relocated or changed phone numbers. Collection agencies use multiple sources to locate debtors, such as facebook, myspace, contacting friends, family and employers.
What would a collection agency say if I threaten to file bankruptcy? An aggressive collection agency doesn't want you to think you have any power over them. If you threaten bankruptcy filing, such collectors may pretend to be glad you do that, just to throw you off. They may state they will then recover the debt through "Bankruptcy Insurance", which simply does not exist.
Why should I use a credit counseling or debt settlement company vs doing it myself? With all the various tricks debt collectors use, it may be easy for them to lure you into a trap or to get you to settle for higher payment than a professional could get for you.
More debt collection
Sometimes there is some emotional conflict when people try to decide which way to go about paying down debts. They wonder if they should pay off bills with the highest interest rates first, or pay off the smaller bills. Deciding to start with the smallest bills, can help to get going on the task and be more motivated. There is a good feeling to know one debt has been paid in full and something is getting accomplished. Setting goals to get debts paid off, must begin with changing behavior. This means spending money wisely. Knowing the bills must be paid is one thing, but actually getting it done can be harder. By paying off a small debt, it may encourage more good intentions to continue to get out of debt.
To get started, target one small debt and try to pay more than what is required each month. Consider paying something weekly, in addition to making the regular payment on time. It is surprising how you begin to see your efforts pay off. Keep a list of the small debts and the order in which to pay each one in full, and mark them off the list as it is done. Seeing the results of every small bill paid, will be uplifting. Keeping the list with each debt scratched off, will remind you how hard you have worked and how far you must go to finish the job.
Getting into debt is fun and easy, getting out of debt is stressful and requires a plan of action. Before spending one dollar, ask yourself if the expense is wasteful and if you can live without spending your hard earned money. If the answer is that you can live without spending the money, you will realize you now have more money left to pay down more of the bills. Keep sending in money for bills and keep getting closer to being out of debt. When help is needed, consider seeking a professional for advice and debt counseling.
I lost my job... what do I tell creditors about my past due bills? Try to keep spending under control so you can pay your bills using existing bank and brokerage accounts for, say, the next three to six months. If possible, avoid withdrawing or borrowing money from your retirement savings. If you anticipate problems paying debts, such as your mortgage or the minimum due on your credit card, contact your creditors immediately and attempt to work out a payment plan. One reason to keep loan and credit card payments current is so that you can maintain the best possible credit record. Prospective employers may review your credit reports when you apply for a new job. Also, carefully review your employer's severance benefits, including the temporary continuation of your salary and health insurance, and try to negotiate a better deal.
Get a Credit Card Late Payment Fee Waived
If you've been a timely paying, long-time member of the card company you had a late payment with, it's possible to have the late payment fee removed. Simply call the card company via the 800 number listed on the back of your credit card, and remind the representative that you're a long time customer in good standing. Even if the representative is adamant that the fee cannot be waived, it's possibly to have the fee offset, such as by getting your interest rate lowered. In some cases your issuer may waive the late fee if you set up an auto pay with your bank to prevent future late pays. If your card company still won't waive the fee, ask to get it lowered. Good cardholders are difficult for issuers to latch onto, so a threat to transfer to a different card company may nudge the negotiations along. Long time steady paying cardholders have an advantage, as there are many other competing card companies who love to have your valuable business.
debt issues and discussing financial problems with a partner can be difficult.
Many times there is one person who takes care of the family budget and takes
responsibility for paying the bills. There can be conflicts when it comes to
talking about how or where to spend the money. It can be frustrating when one person likes to
spend money and the other wants to save more money. When
debt problems arise there can
be more stress that could cause bigger problems in a relationship.
a savings account to fall back on during a financial crisis has helped many
people. Yet, a lot of people do not have a savings account, or they may not have
much money saved if thousands of dollars may be needed during times of financial
troubles. Things like unemployment or medical problems have caused many
Americans debt problems that were not expected. Discussing money and finding
options can sometimes lead to nowhere and may require an outside credit
counselor who can give some choices for solving the problems.
honest might help, so a plan can be made as quickly as possible. As hard as it
may be to discuss debts, they will not disappear when ignored. The first thing
is to make a list of all the debts and exactly how much is owed on each one, and
then get a total amount. This lets you know a figure that you must work with. If
for example, there is $200,000 in debt, and it would be impossible to pay it
off, an option may be to file bankruptcy or try debt
settlement. However, if only $3,000 is owed on debts, devising a budget and
working with creditors who will adjust the monthly payments for a while, may be
a good choice instead of rushing into another debt relief option.
mistakes happen every day and it is best to learn from them and go forward.
Solving debt problems can take some time and requires work from all partners. It
may require being very frugal and living on a tight budget so all bills get paid
on time or paid off. Learn how to save money from each paycheck, even if it is
only five dollars. Track
spending habits and get on a budget, there is free personal
finance software available to be able to click in some numbers and see some
figures. Not knowing how much money is wasted from every paycheck will not help
pay down debts. Use every penny wisely.
online for debt relief, may yield results for many links to websites that may
say there are Federal grants available to pay debts. Some of the sites may ask
for money in order to get the secrets or information for debt money. Many
consumers have made the mistake of giving money and got disappointed that the
government is not going to just send them a check in order for them to payoff
their credit cards.
The idea that
there are grants to get money to pay bills is appealing to many consumers, so appealing that they are willing to pay
money. There are some examples of government help, for example, recent mortgage
problems that millions of people have experienced, and being at risk of loosing
their homes. The government assisted and provided some means, so people who
qualified could try to keep their homes through a loan modification program.
They did not step in and pay the mortgage, but provided a way that homeowners
could try to keep their home by working out a better payment plan.
are debt relief services that offer some effective and affordable solutions to
consumers, in an effort to help them get debts under control, and there are
usually some fees for this service. When people are not successful at reducing
debts, debt relief services may be very helpful. When faced with high monthly
payments that have high interest rates or accumulated late fees, some of these
debt companies have helped people get rates reduced and late fees dropped.
reason debt services are able to do this, is because they work with companies
every day and negotiate between borrowers and creditors for something that will
benefit both parties. After all, when borrowers file bankruptcy, a creditor may
end up not getting paid at all. Many debt
settlement companies are good at negotiating and can sometimes get creditors
to settle for a much lower payoff than what is actually owed. Many of these
companies require a specific amount of unsecured debt from applicants, it could
require a minimum of around $10,000 or more in debt.