Finance, Loan, Debt and Credit.

February 3, 2018

Can A Credit Card Company Sue You – Being Sued For Debt and Advice On How You Can Avoid It


Credit card companies and collection agencies are quite within their rights to take legal action against you if you have failed to pay a debt that you legitimately owe.  Taking out credit is a legal agreement, so if you fail to keep up with your end of the bargain by not paying the money back when it is due, you can be sued.

This does not mean that it is a foregone conclusion that you will be sued, as it can depend on many other factors.  Taking someone to court will obviously cost the card company money, so they will want to weigh up the cost in legal fees and staff time, compared to what they are realistically likely to get back at the end of the process.

The fact that you are sued does not magically bring money out of the air for the card company, so if you genuinely cannot afford to pay back what you owe, being sued will not change that.  If they successfully sue you, you will be ordered to pay back the money at a rate which the court decides you can afford, after looking at your finances.

You do not want a court judgement against you if you can help it, of course, so it is much better to deal with the problem before it gets to the stage of going to court.  By far the best way to deal with credit card debt is to agree a settlement with the company.  This may sound easier said than done, because it is, but it is perfectly possible to agree settlements for much less that you owe, if you understand how the card companies work.

My usual advice to anyone in debt would be to never ignore the issue and to talk to your creditors and try to establish a relationship.  However, credit card debt is quite a distinct area of debt and requires some specialist advice.  For instance, at certain times, it may actually help to ignore approaches from the card company, because timing, in settlement terms, is everything.  Judging when to negotiate and when not to, can make the difference between not achieving a settlement and wiping out most of your debt.

Find out about the ultimate guide to the secrets of effective credit card settlement. Read the author’s step by step guide to getting rid of debt by negotiating with your creditors on his Debt Assistance website. K D Garrow has worked as a senior manager with significant financial responsibility for the last twenty years. His website offers free, unbiased advice on a range of debt related issues, including debt consolidation, UK IVAs and debt management plans.

February 2, 2018

Being Sued By A Credit Card Company – Dealing With Being Sued And How To Avoid It

Filed under: Credit — Tags: , , , , , , , , , , — admin @ 12:46 am


Being sued by a credit card company can be a distressing experience, often with long lasting consequences.  Just being threatened with legal action can be a cause of great anxiety, even if you are not sure whether the credit card company actually intends to carry out the threat or not.  It is safe to say that most companies who are owed many may well threaten to take you to court, even if they have no intention of doing so.  It is just another weapon in the financial recovery arsenal.

If you are at the stage where you are being sued for debt, the first thing you must do is take legal advice.  If you have a summons to attend court, you must attend, as the case will go ahead whether you are there are not, and the case against you will be upheld if you are not there.  Do not worry about being sent to prison, that cannot happen if this is the first time you have been sued for a debt.

If the case goes against you the worst that is likely to happen is that you will be ordered to pay back the money you owe at a rate set by the court.  They will examine your finances and make a decision about what they believe is an affordable rate at which to pay it back.  Once this has happened and there is a court order against you, it is very important to stick to the terms of the order.  If you do not, there are more serious legal consequences that the credit card company can then try to use against you.

If you have not got as far as actually receiving a summons, it is not too late to take steps to address your debts and prevent legal action.  The worst thing you can do is ignore the situation, because then the credit card company might assume you can afford to pay up but are just choosing not to.  You need to let the credit card companies know that you take the situation seriously, that you are in genuine hardship, but also that you are doing something to address the problem.

The best ways to tackle debt and prevent being sued by a credit card company are to set up a debt payment plan.  This way you get your creditors on board because they can see that you will be making regular payments and they know when the debt will be paid off.  The most usual approach is to use a debt management plan to consolidate all your debts into a single payment.  For this type of plan your debts need to be to more than one company, and they are ideal for credit card debts, personal loans and other unsecured debts.

You need to have a steady income to be able to afford the monthly payments on a debt management plan, but if your situation is really serious, you might need to consider debt settlement instead.  You still have to make a regular monthly payment towards your debts, but it tends to be less, because the debt settlement process depends on getting a large percentage of your debts written off by the credit card company.  You make regular payments into a separate pot instead of paying anything direct to your creditors, then as the debt settlement company reach agreements to settle a debt, you use the money to pay it off.  It is not unusual to get up to 60% of your credit card debts written off.

If you do want to look into debt management or debt settlement, you must find a good company to advise you and set up this arrangement for you.  We have all heard horror stories about debt companies that take money from people and leave them worse off, but this is entirely avoidable if you just take some precautions about finding an ethical company to work with.

You can safeguard yourself by following recommendations for only those companies that are known to be very well established.  If you stick to companies that have been around a while and which have lots of satisfied, debt free customers, you will be OK.  As a final safeguard it is a good idea to apply to about three companies so that you can then make a judgement about which is best for you.

Read reviews and recommendations for the best debt management companies in the UK and US, as well as the best organisations for debt settlement online. K D Garrow has worked as a senior manager with significant financial responsibility for the last twenty years. His website offers free, unbiased advice on a range of debt related issues, including how to find the best IVA UK company.

January 30, 2018

Can A Credit Card Company Sue You For Debt – Action To Avoid Being Sued For Debt

Filed under: Credit — Tags: , , , , , , , , , — admin @ 12:46 am


Credit cards are an essential part of the way we all live today, but the very convenience of them can make it all too easy to overstretch ourselves.  Being able to just make a minimum payment each month is very tempting, but in the long term it can lead to very substantial debts that become difficult or impossible to pay back.  This is the point at which the card companies who were so eager to help us spend money now turn rather serious and start threatening to take us to court.

This is not a pleasant experience for anyone, particularly if you do not understand the legal situation and are not sure if they really can do what they threaten to.  Sometimes your dealings will be with the card company themselves, and other times you may be approached by a debt collection agency.  Not all collection agencies have a reputation for honesty and integrity, so it is understandable that we may wonder if they are telling us the whole truth when they threaten to sue.

The fact is that a credit card company can sue you for debt if they choose to, and it does not really matter whether you are being approached by the card company or a collection agency.  The agency will either be acting on behalf of the card company, or may even have bought the debt themselves.  In the latter case you will now owe the money to the collection agency and the principles around being sued are exactly the same.

The consequences of being sued successfully are that a court order will be made against you, and you will be ordered to make payments at a rate that the court decides is fair, considering your financial circumstances.  You do not need to worry that you might be sent to prison as a result of this action, but it will have a lasting impact on your credit rating and is certainly best avoided.  Also, the consequences do get a lot more serious if you then default on the payments ordered by the court.

Whether the card companies will sue you or not depends on many factors, but if you appear to just ignore the situation, you are making it far more likely that they will.  Even if you are already being threatened with legal action, it is not too late to avoid this by using one of the options available to you to deal with your debts.

Credit card debt is what is called an unsecured debt, as it is not tied to any asset (unlike your mortgage for example).  If you have a substantial amount of unsecured debt there are two main options open to you that will lead to you being debt free again, so these are at least worth considering.  They are for any kind of unsecured debts, so could also include any personal loans, bank overdrafts, etc.

The first option is a debt management plan, which involves a specialist company negotiating new repayment terms with your creditors.  This leads to a single affordable payment that you make each month to the debt management company.  It instantly reduces what you pay, simplifies your payments and stops the card companies hassling you.  To set up a plan you need to have an income and some money spare each month to meet the payments.  Such plans are widely available in both the US and UK.

If your situation is more serious and you would struggle to make the payments on a debt management plan, then your best option may be debt settlement.  This involves using expert negotiators to work out deals with all your creditors to settle your debts for substantially reduced amounts, in exchange for quick repayment.  In the UK there is a scheme called an IVA, which fulfils the same function as debt settlement, dealing with serious debts and writing off part of them.

So if a credit card company is threatening to sue you for debt, the best thing you can do is look into debt management, settlement or an IVA, depending on your situation and where you live.  This will send a clear message to the card companies that you are trying to tackle the situation.  When it comes to finding a good company to work with, you need to be cautious as there are a huge number to choose from, and they are unfortunately not all effective or ethical.

The best ones are experienced experts who will do all they can to get you out of debt, whereas the worst ones are really just out to take money from you.  You should therefore always look for well established companies that can demonstrate a record of success in dealing with people in debt.  The safest starting point is to follow recommendations for known reputable companies and to always approach at least two, so that you can consider what each one offers and choose which you prefer.

Read reviews and recommendations for reputable online debt settlement companies and UK IVA providers. K D Garrow has worked as a senior manager with significant financial responsibility for the last twenty years. His website offers free, unbiased advice on a range of debt related issues, including recommendations for the best debt management companies in the UK and US.

January 16, 2018

Take Care While Choosing a Debt Consolidation Company

Filed under: Debt — Tags: , , , , , , , , — admin @ 12:47 pm


Nowadays, debt consolidation is a popular means adopted by people to ease out their debt burden. In debt consolidation, various types of debts, such as credit card balances, unsecured personal loans, utility bills and so on are combined into a single debt. This not only reduces the debt burden but also facilitates efficient debt management.

There are many debt consolidation companies in UK that provide debt consolidation services to help people regain control over their finances. Debt consolidation with a good debt management plan helps to clear debt mess and open the avenue for a bright financial future.

One needs to be careful while choosing a debt consolidation company. Ensure that you choose a company that has the reputation of providing a satisfactory service. Choose a company that has the reputation of paying the creditors on time. Select a debt consolidation company that will collate all your pending debts and not just a few. This will ensure efficient debt management.

Proper understanding of the debt situation is essential for formulating an effective debt management solution. That’s why debt consolidation agencies recruit debt counsellors who assess your current financial as well as debt situation. Situation assessment includes assessment of as your income, expenditures, types of financial obligations, number of creditors, amount due for each creditor and so on. Based on this, the counsellor proposes a suitable debt consolidation plan that will be effective in the particular situation

Debt consolidation service has some fees, such as account set-up fee and monthly set-up fee. There may be some hidden fees that may not be evident. Make sure that you are aware of such hidden fees before you sign up for a particular debt consolidation program. Choose a debt consolidation plan in such a way that the fees do not put burden on you.

You should select a debt consolidation loan that carries a low APR so that you may repay your pending debts without burdening yourself with another loan. A cheap debt consolidation loan is devised in such a way that the borrower is able to save money on the interest and other fees to be paid over the loan term.

The author is a business writer specializing in finance and has written authoritative articles on the finance industry. He has done his masters in Business Administration and is currently assisting Debt-Consolidation-For-The-Stress as a Finance specialist.

For more information please visit: www.debt-consolidation-for-the-stressed.co.uk

January 2, 2018

Debt Consolidation Company – Provides Relief

Filed under: Debt — Tags: , , , , , — admin @ 12:46 am


Are you bogged down by the sheer number of bills that need to be taken care of? If yes, then before more trouble brews up and you land up in a big financial crisis seek the services of a debt consolidation company. What the debt consolidation company can do for you is to get you back on the track of a secure financial future in no time at all. A debt consolidation company provides you with a lot of help in dealing with your debt. Some debt consolidation company might give you the option of clubbing your debt under a head and paying them at a reduced rate of interest, while others might negotiate with your creditors for you.

The best debt consolidation program will provide you with a number of options of dealing with your debts considering your requirements. There are also other types of assistance that are made available like bad credit debt consolidation loan and bad credit debt consolidation counseling. Debt consolidation is a viable option over bankruptcy any time, because it doesn’t show on your records like bankruptcy does.

Counseling Can Get You Back On Track

Debt consolidation counseling is a very important feature of the help that a debt consolidation company provides you. This is because not only does counseling help you in dealing with the current financial crisis it also helps you with future financial planning. Another very important part of the consolidation process is financial assistance in the form of a bad credit debt consolidation loan.

Do not worry, the bad credit debt consolidation loan is not another high interest problem that will eat away your resources. Rather it is a convenient method of taking care of your debts at the present moment. After your present debts have been dealt with, the bad credit debt consolidation loan can be paid off easily.

The debt consolidation company is a friend in need for sure. Bankruptcy is not the only option if you are in debt and the debt consolidation company that you choose for yourself will make all possible efforts to bail you out of this crisis as well as keep you away from future debts too.

The debt consolidation company can be judged based upon the advice that they provide you. They need to consider your financial position and then suggest to you methods to get you debt free. That is why debt consolidation quotes allow you to know what you are going to get if you choose a particular debt consolidation company. The right choice can do wonders for you.

A debt consolidation company can make you debt free by providing you with the right kind of advice to get Best Debt Consolidation Program, as well as negotiating with your creditors on your behalf. Debt consolidation quotes help in judging a debt consolidation company. You can even get a bad credit debt consolidation loan, if your credit score is low due to bad debt history.

December 30, 2017

Does A Credit Card Debt Consolidation Company Request A Settlement?


When it comes to credit card debt consolidations and credit card debt settlements, no a credit card consolidation company will not give you a settlement, because a settlement plan and a debt consolidation plan are two totally different things.

Debt settlements – A debt settlement is an agreement between you and the original company in which you owe money to, to cut out or greatly decrease the total charges of late fees and hidden charges added on top of your original payment agreement to help make a total debt more affordable to pay off and usually requires you to pay some sort of upfront payment as proof that you are now capable and dedicated to you continuing paying your current charges in full and on time.

Hector Milla Editor of the “Get Rid Of Credit Card Debt” website — http://www.GetRidOfCreditCardDebts.net — pointed out;

“…This is typically only a plan offered to people who are very much so in debt with the original loan or debt holder and not available to people only slightly in debt…”

Consolidation plan – Is a company which takes your original debt from the original credit card companies which you owe money to, either one or many. And totals up the complete amount of money in which you owe, having you sign over an asset of equal or greater value to your said debt, and then applying that value to paying back those companies.

Thus you will only be owing money to the consolidation company and paying less on fees, and late charges which can severely add up when you are in debt with many different companies. The consolidation company will create a plan which is friendly with your total income, helping you get out of debt while fixing your credit, enabling you to be able to afford to stay out of poverty while paying back your debts.

“…So really the difference between the two is a consolidation company is a company which offers a separate plan to the original companies you owe money too, while a settlement plan is a solution which cuts out part of the debt owed to the original company but you will still have the multiple companies charging you and building up together over a long period of time…” added H. Milla.

Further information about trusted and reputable companies for credit card debt settlement by visiting; http://www.GetRidOfCreditCardDebts.net

Hector Milla runs his corporate website at http://www.OpsRegs.com where you can see all his articles and press releases.

November 13, 2017

Refinance Loans: Lending Tree Company For Refinance

Filed under: Loan — Tags: , , , , , , , , — admin @ 12:47 pm


More and more people are faced with financial problems and if you are one of them then you need not worry. Financial problems can be very distressing when you are unable to repay your loan. The answer to all your problems regarding finances is refinance loans. You may be facing several problems in relation to finances, for example your source of income may have declined or your family size may have increased, which can result in an increase in expenses.

Refinancing can help you a lot when it comes to an unexpected contingency. If you refinance your house it can be advantageous. A low interest rate will mean a lower payment. There is great diversity in refinance rates which depends on the organization with which you choose to refinance your loan.

When it comes to choosing a mortgage, it becomes difficult as there can be a number of options. You get an interest rate much lower than the existing one and it will be fixed for the duration of the loan repayment.

The major reasons for refinancing are paying back another loan and making home improvements. Refinancing can give you the following benefits:

Refinancing can also be a risky affair. Sometimes the closing and transaction fees are higher than the savings or the penalties become unbearable. The burden of paying back the loan may be greater compared to the previous one. Therefore you must choose wisely before applying for refinance loan.

This is America’s leading online lending company started in 1998 and has its headquarters in Charlotte, North California. This web-based company is a place for lenders to compete with each other for business and earning profits. There have been 23 million requests and around $185 billion in closed loan transactions made possible by Lending Tree. It offers refinance and mortgage loans, home loans, home equity, personal loans etc. HomeLoansCentre.com, GetSmart.com are owned and managed by Lending Tree.

Lending Tree provides a mortgage refinance calculator that will help you compare your mortgage with current mortgage interest rates so you can decide if it is time to refinance. If you prefer to refinance your loans, Lending Tree will connect you with lenders who provide a variety of loans and cash out refinancing. Lending Tree provides all the services through which you can enjoy all the possible benefits of refinance loans.

Refinance Loans: Lending Tree Company For Refinance

October 19, 2017

Credit Card Debt Settlement – Should I Negotiate by Myself Or Hire a Debt Settlement Company?


Are you one of those who are stuck with the credit card debts in this current recession period? if so then you must be highly stressed up with mounting credit card debt and no end in sight. And the only way out that comes in your mind is bankruptcy. However this is not true, there are other options but they may not be quick.

The other option includes credit card debt settlement by various methods to eliminate costumer’s debts. Through the credit card debt settlements customers can reduce their payments up to 60% and avoid bankruptcy. As a matter of fact, there are good chances that you are eligible to save thousands of dollars on the amount of money you owe.

The piece of advice that i would like to give you is that do not approach directly by yourself to the creditors as it is of no use. They will not listen to you because you are not a professional and you do not know the tactics of how to negotiate with them.

Instead hire a settlement company which will accommodate credit card settlement, with the lenders in a very professional and proper way. It is a process in which creditors agree to accept less than the full balance to settle outstanding debt on a particular card. This has proven to be an excellent solution for many people and may be all you really need in order to get out of the financial crisis. The key to successfully eliminating your debt through this form of debt relief is finding an honest settlement company.

Having a credible professional on your side can be a very big advantage, but if they are not legitimate, they will most definitely do more damage than good. So before going to any company which offer debt settlement, do a thorough research on different companies so that you do not make a choice that you regret.

The reason why you should hire a company to do credit card debt settlement is simply because Settlement companies handle these problems on the daily basis. They understand the system and know how it works. The average consumer, on the other hand, does not. The average client has 4-5 accounts, which would hardly give him the time to negotiate with the lenders. Experience eliminates uncertainty and confusion.

Adjudicating with creditors regarding credit settlement is not a one-phone-call, 10-minute-conversation ordeal. It often requires numerous phone calls and hours of conversations with creditors. Settlement companies can save you a great amount of time and energy.

In conclusion, please do consider the debt settlement companies to solve your debt dilemmas. Nevertheless, for most people, the additional fees charged by a professional negotiation company are well worth the tranquility and positive results brought by professional assistance. The risk you might be running negotiating your own debts may cost you much more than what you might be saving by not seeking expert help.

If you want to find the top performing debt settlement companies then here’s some very important advice. Do Not go directly to a particular debt settlement company but instead go to a debt relief network that is affiliated with several established debt settlement companies. In order to be in the debt relief network, the debt settlement companies must prove a track record of successfully negotiating and eliminating debt. They must also pass an ethical standards test. Going through a debt relief network will ensure that the debt company you are provided with is a legitimate and respected company.

Debt Relief Network.

FreeDebtSettlementSolutions is a matchmaker in the debt settlement industry. They have paired up thousands of consumers up with debt settlement companies who are most likely to get consumers the best deal.

http://freedebtsettlementsolutions.com

September 21, 2016

Student Loan Consolidation Companies – Which Is The Best Company For You?

Filed under: Loan — Tags: , , , , , — admin @ 12:47 am

CLICK HERE for the best Student Loan Consolidation Companies Student loan consolidation is a way for graduates to have all their student loans combined into one loan. This loan is handled by one creditor. The creditor pays the multiple loans completely leaving the student to pay for one new loan. Students no longer have any need to pay multiple student loans with separate billing cycles, dates or interest rates. They now have one loan and one interest rate, to be paid to one creditor. when considering loan consolidation. You must do the research. First know the details of agreement, standard payments, and interest rates for each loan and creditor before looking out for a loan consolidation company or program. When picking a company or program, make it a point to compare them ; know their terms of agreement, interest rates and requirements. When you have carefully selected a company or program you feel is acceptable for you provide them the information you had gathered. There are Fed. and personal Student Loan Consolidations. Fed Student Loan allows a student to have all their federal loans mixed into one new loan. The government provides federal programs like : The federal Family Education Loan Program ( FFEL ). FFEL will soon be replaced by the Direct Loan program and Pell Grant and the federal Direct Student Loan Program ( FDLP ). These programs permit students to have their loans from Stafford Loans, Fed. Perkins Loans and plus loans mixed into one Fed. loan. These are fixed-rate loans backed up by the U.S. Government, offered to students and parents. The Fed. Direct Student Loan Program ( FDLP ) was made by the U.S. Dept of Education in effort to help parents and students with their loans. personal Loan Consolidation is mixing private student loans into one new loan. Before considering private loan consolidation, apply for a Fed loan, the explanation for this is to better maximize Fed loans that are available. Non-public companies like Sallie Mae counsel it. Here are several federal Loans : Perkins Loans are financed by the government. They carry a very low interest rate but are need-based, a fiscal officer would establish if a student is eligible. Plus Loans are for oldsters of undergraduate students. There are also Plus Loans for students also. Payments on this plan will begin once this loan is approved. Plus Loans let you take up to 10 years for repayment. Commercial banks and online banks offer plus loans for both oldsters and students. Stafford Loans supply a low interest rate. They do not raise their interest rates any higher. Stafford loans do not need a student to pay any interest while at college and are not required to pay the loan in the six months after graduation. It offers ten years for repayment. Here are a few personal companies that offer Loan consolidation : Loan Approval Direct offers IRs as low as 3 percent. Reducing a student’s monthly loan to as much as sixty %. SLM Corporation or typically named Sallie Mae. Sallie Mae offers a selection of options depending on the type of school or what education program a student would have. Such programs include Fed. Stafford Loan, Parent plus Loan, Graduate PLUS Loan, Sallie Mae Smart Option Student Loan, Continuing Education Loan and Career coaching Loan. Citibank provides programs like CitiAssist Undergraduate and Graduate Loans, CitiAssist Health Professions ; CitiAssist Residency, Relocation and Review Loans ; and the CitiAssist Law and CitiAssist Bar examination Loans. Students receive a 0.25% IR reduction in their auto-debit payment program. These programs take up to 20 to twenty-five years to repay. EdFed is another private company. By picking one of their plans a student can lower their regular payment by as much as sixty percent. They also provide interest-only payments. The fixed interest on EdFed is the weighted average of the IRs of the loans a student consolidated, rounded to the nearest 1/8th percent. .

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