credit Tag

Debt collectors have always been creative.  They use phone, email, mail, text messages, at home visits, and many other techniques to get in contact with a person in debt.  According to the Federal Trade Commission, all of those methods are legal except postcards with details anyone could see.  However, if creditors utilize these methods, they are not allowed to be deceptive or threatening....

Chapter 13 bankruptcy is a form of bankruptcy that requires the debtor to enter into a plan of debt repayment. It is similar to debt consolidation, but has the backing of Court approval, so your lenders do not have a choice about whether to participate in your proposal. When a Chapter 13 case is filed, a repayment plan is proposed and eventually approved by the Court. The debtor then makes a...

Bankruptcy comes in two forms for most debtors, Chapter 7 and Chapter 13. Chapter 7 is the preferred type of case to file because it allows a debtor to get rid of all of their unsecured debt. And, in most cases, it is having too much unsecured debt that puts people in the position to need the relief bankruptcy can provide. But before you decide to file a case and count on being able to file a...

The first step to understanding the benefits of taking certain actions is to understand the action itself. When you are looking for ways to cut down on expenses and get out of debt it is beneficial to have a grasp of how different debt repayment plans can eliminate your debt load. There are several schools of thought on how to get out of debt, from the snowball method to the APR and quick...

Getting out of debt sounds easier if you make enough money to pay your bills each month and have plenty left over for paying down account balances and loans. But if you are stretched too thin already, getting out of debt can sound like an insurmountable task and you might be tempted to ignore warning signs of financial distress. It might not be easy, but even people who make less are able to...

When it comes to making a major purchase it is always a good idea to shop around. Whether you are looking at getting a new car, taking a vacation, or buying a house the amount of money you pay is probably a major part of your decision making process. This is where negotiation and shopping around helps save you money. Car dealers often compete for buyers’ dollars by offering financing...

A mortgage modification is a way for homeowners to lower their house payment, and free up disposable income each month. The way it works is that the current home loan lender rewrites the loan, lowering the interest rate and giving you a lower payment. But the process can be complicated, and many homeowners become frustrated along the way and allow their lender to delay or stop the process...

Getting into debt is pretty easy, and once you get out of debt it is important to stay out of debt if you want to have any form of financial freedom. But staying out of debt can also present significant obstacles, and most people fall in and out of varying degrees of debt throughout their lifetimes. Knowing what to look for and how to avoid pitfalls will help you remain debt free once you...

Becoming debt free is usually the first resolution made at the start of a new year, right after resolving to lose weight and exercise more. But even with a month or so of the New Year gone, the time is still right to make a plan to become debt free. Getting out of debt creates a positive cash flow and also gives families an emotional lift from the pressure burdensome debt places on their...

Bankruptcy is a very real answer to many debt problems, but it can be confusing. The process requires people to go to Court, which can be intimidating. Luckily most people are only required to appear in Court once, and the hearing is very informal. Still yet, the idea of having a Court looking at your financial picture is a tough pill to swallow for some, and the idea that a legal remedy is...