List/Grid Monthly Archives: February 2010

Collection Agencies And Your Credit

When a creditor has a difficult time collecting a debt they may turn to a collection agency to help them out. A collection agency is a business that works at pursuing payments on delinquent debts from an individual or a business. Most collection agencies are working as an agent of the creditor and they receive a fee or a percentage of the amount collected. Some collection agencies, however, are “debt buyers” and in that case they have purchased the debt from the creditors for a fraction of the value and in return they will try to collect ...
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Citibank Scares Consumers With 7-Day Threat

Citibank customers may think they are the fool come April Fools Day or April 1, 2010 when Citibank may start requiring a 7-day notice to withdraw any money from checking accounts. Last Friday, Citigroup sent out statements to customers throughout the United States to inform them that they may be required to submit an advance notice of seven days if they wish to withdraw cash from their checking accounts. ““We reserve the right to require (7) days advance notice before permitting a withdrawal from all checking accounts. While we do not currently ...
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Keeping Up The Fees

With the recent enactment of CARD and the fact that fewer and fewer people are using the credit cards they already have or applying for new ones, the credit card issuers and banks are scrambling to keep the profits up and the fees rolling in. Case in point, recently many banks are sending out special notices to consumers encouraging them to sign up for overdraft protection and telling them if they refuse to sign up, their debit transactions will be declined if there is not enough money in the account even if they make a deposit to cover the cost ...
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Today Is The Day For CARD To Take Effect

The new credit card laws start to kick in today, February 22. You can now expect to see the potential bad news associated with your account on every statement. For example, the credit card companies must now tell you the awful truth of how much interest you will pay and how long it will take you to pay off your balance if you only make the minimum payment every month. The truth that you may still be able to hide from and deny but the credit card companies must disclose to you is that if you only make the minimum payment every month you will ...
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Valuable Information To Increase Your Credit Score

Most people know just how important a high credit score can be for a strong financial situation but the majority of people do not know all of the factors that are taken into consideration when determining a credit score. A credit score takes a variety of different statistics regarding your finances and compiles them together into a numerical rating that is an implied indicator your creditworthiness. People who boast the highest credit score numbers are thought to be the least risk for lenders. Any score above 700 is considered to be a good ...
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Credit Repair And Late Payments Vs. Bankruptcy

Many people who are in a negative financial situation may not want to consider a bankruptcy because of the negative stigma associated with it. However, if you can no longer make your regular payments and you are in a downward spiral, bankruptcy may possibly be the best solution because it allows you to begin anew. If your financial situation has changed and you are no longer able to make your regular payments it can cause a great deal of unnecessary stress. Knowing that you don’t have the money you need and dealing with creditors not only affects ...
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If You Have Repossessions On Your Credit Report, What Can You Do?

Right now there are many people who have bad credit such as repossessions showing on their credit report. The current economic recession has just made problems like car repossessions and other credit difficulties more common. If you have had a car repossessed and the negative listing is showing on your credit report, what can you do? The truth is that if the repossession or any other bad credit is an actual fact it is not supposed to be able to get removed from your account for a certain period of time. However, you may still be able to improve ...
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Start Repairing Your Credit With Simple Steps

Having good credit can be an essential in your life. We all must have good credit in order to qualify for home mortgages, car loans and even credit cards. However, many of us have struggled through difficult financial times from job layoffs, business failures or just the result of the economic recession. Many of us have bad credit but there are some steps we can take to begin to repair our credit and restore some semblance of stability to our financial lives today. As you begin to repair your credit the first step you need to take is to get ...
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