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New Credit Card Laws – What you Should Know
NEW YORK - (BY CANDICE CHOI AND EILEEN AJ CONNELLY, AP)
The new credit card law is finally here. Starting Monday, banks will need to abide by new regulations on terms and disclosures. The idea behind the landmark law was to prevent banks from using practices that often dug borrowers deeper into debt.
A look at how the [...]
Guide to Reducing Debt
Millions of Americans out there have paid off significant credit card debt. Now it’s your turn. In short, your get-out-of-debt goal is to assess, organize, attack, and then lather, rinse, repeat until those balances are down to $0.
Don’t worry; we’re with you every step of the way.
Here’s your six-step action plan for getting your debt [...]
Common Myths About Foreclosure
MYTH: My mortgage company would rather foreclose on my home than keep me in it.
The mortgage company sustains an average loss of about $58,000 when foreclosure occurs (TowerGroup study). They are in the business of providing mortgages – not owning or selling homes – and would always prefer to keep you in your home. By [...]
What is Wage Garnishment?
What is a wage garnishment?
A wage garnishment is any legal or equitable procedure through which some portion of a person’s earnings is required to be withheld by an employer for the payment of a debt. Most garnishments are made by court order. Other types of legal or equitable procedures for garnishment include IRS or state [...]
The 3 worst debt consolidation moves
The phrase “debt consolidation” has always had a magical ring to me.
As if somehow, someone would have the power to mush my debt into one neat little package, which by some incredible financial alchemy would also then shrink the debt itself — and I’d only owe a hundred bucks or so.
I know I’m not the [...]
How to Request a Debt Consolidation Loan quote
A debt consolidation loan creates a new loan secured by your property and pays off most or all of your debts, saving you money and saving your credit. Lear how, step by step:
Instructions
Step 1:
Add up all of your debts. Include all credit cards and loans.
Step 2:
Check the interest rates you are paying on [...]
Consolidate your Bad credit debt loans
Instructions
Step 1:
The days are becoming bitter and hard to pass because every tickling sound reminds you of the bad credit issues. The bad credit disrupts the credit and people are barred from availing financial aids. Debts add insult to injury. But now this tale will become a past in your life if you consider the [...]
Comparing Your Current Monthly Debt to a New Consolidation Loan
Current Monthly Debt and New Consolidation Loan
Step 1:
Create a column for the name of the company you owe, the total amount you owe, the minimum monthly payment, or the usual payment you make, and the interest rate.
Step 2:
Add up the grand total of your debt and the total monthly payments you are making.
Step 3:
Add up [...]
Consolidating Business Debts
Business Debts
Step 1:
Select a debt consolidation company. Ask for referrals from friends and acquaintances. Look in the local newspaper for companies that offer consolidation services. Call credit unions and banks in your area that specialize in consolidating business debts. Search the Internet for business debt consolidation programs.
Step 2:
Research several companies to compare their services. Carefully [...]
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