Tag: credit

5 Money Management Techniques to Help Ease Worry From Debt

When it feels like you’re a million dollars in the hole, living with that number hanging over your head doesn’t feel very good. However, aside from making consistent progress toward money management, there’s not much else you can do — so relax with these positive suggestions to turn your mood around.

1. Do any of these free things

2. Be proactive

3. See if your credit card company has a hardship program  …

 

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What Debt Collectors Can’t Do to Recover Your Debts

Knowing what debt collectors cannot do to collect a debt from you may help you deal with and protect you from their approaches to debt collection.

The Fair Debt Collection Practices Act (FDCPA) is the federal law that governs debt collection for personal, household, and family debts like your mortgage and car loan, other personal loans, your credit card debts, past-due utility bills, past-due student loans, medical and insurance debts, condo fees, unpaid legal judgments against you, and bounced checks. The FDCPA applies to outside debt collectors, but not to a creditor’s own in-house debt collectors (meaning debt collectors who are employees of a creditor).

 

 

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How to Cure Your Post-Holiday Financial Hangover

Ask anyone you know, and everyone seems to have a cure for a hangover. Some of the more traditional fixes include aspirin or ibuprofen, lots of water, coffee and lots of food. Then there are more unusual remedies, like drinking pickle juice. But how do you cure a financial hangover? You overspent before the holidays, and now the balance on your credit card bills looks terrifying in the sobering light of January.

 

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The Truth About Debt Consolidation

Myth: Debt consolidation saves interest, and you have one smaller payment.
Truth: Debt consolidation is dangerous because you treat only the symptom.

Debt consolidation is nothing more than a “con” because you think you’ve done something about the debt problem. The debt is still there, as are the habits that caused it – you just moved it! You can’t borrow your way out of debt. You can’t get out of a hole by digging out the bottom. True debt help is not quick or easy.

Larry Burkett, noted financial author, says debt is not the problem; it is the symptom. I feel debt is the symptom of overspending and undersaving. Our financial coaches will not recommend debt consolidation for a client. Why? Because debt consolidation doesn’t work.

 

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5 seemingly harmless things that can hurt your credit

“Mom,” my daughter said as she stood by my desk recently waiting for one of her homework assignments to print from my computer, “Did you pay this bill? It was due Oct. 4.”

She asked me this on Oct. 14. And no, I hadn’t paid it.

The bill she was talking about was a “toll by plate” bill for $7.50. In some parts of Florida tollbooths have disappeared and drivers either pay using a Sunpass or get a bill like I did when a picture of their license plate is captured on one of these roads.

 

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Seven reasons credit applications are rejected

A credit file profile is not the only reason for having credit applications refused. There may be other less obvious causes for a rejection.

Not on the electoral roll

The electoral roll is something to which lenders turn for confirmation that the applicant is who they say they are. Not being registered on it can lead to a refusal for credit.

 

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Choosing the Right Credit Card for Holiday Shopping

T minus one month until we embark on the busiest shopping season of the year. Many experts predict that we’ll spend more on credit cards in the last two months of the year than we spent on the previous 10. So if you’re going to choose to whip out the plastic this holiday season, here are some tips to keep in mind.

 

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What Are Ghost Credit Cards?

In an alleged scheme targeting consumers in need of building their credit, scammers are said to have sent letters promoting semi-secured credit cards that would help boost credit scores. The letters asked people to send hundreds of dollars in deposits to either Freedom 1st National Bank or AmTrade International Bank in order to receive their cards.

The cards never came, because those aren’t real banks, according to the U.S. Officer of the Comptroller of the Currency. The OCC charters and regulates all national banks.

 

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10 Free Ways to Protect Your Identity from Identity Theft

Identity theft, which hits more than 12 million Americans per year — carries a per victim cost of nearly $5,000, according to some reports. So, the need to protect yourself is obvious.

And protection doesn’t have to be costly in terms of money or time.

 

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Repairing your credit: Go it alone or hire a credit repair company?

Every consumer who uses credit has a credit record — and is it ever powerful.

Every time you apply for credit or a loan, creditors obtain your credit record to verify your worthiness. But, the use of these reports has broadened. Insurance companies have begun to use them to determine premiums or deny coverage. Potential employers may even want to check out your credit worthiness.

 

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