The law prevents harassment by a debt collector. It is harassment if they call you at work?
My latest Ask Brent video discusses this. You can watch it here: httpv://www.youtube.com/user/MyCredEd.
Remember to ask your questions about credit and debt in the form to the right. I will answer via blog or video as soon as I can!
When you fill out the form, your question goes straight to my email inbox. I am an email addict, so I will see it quickly. If I put your question into a video, or answer it in a blog, I will send you and email back to let you know the answer is ready.
Posted In: Collections, debt collection
In Tip 10, I discuss how to start watching your finances and why it is important to pay attention to your money.
I have posted a video series to the MyCredEd YouTube channel discussing how you can protect your credit during divorce. Remember, your divorce will be over soon, but the effects of a credit problem can last years longer!
You can view the Tip 10 video here:
Remember to ask your questions about credit and debt in the form to the right. I will answer via blog or video as soon as I can!
When you fill out the form, your question goes straight to my email inbox. I am an email addict, so I will see it quickly. If I put your question into a video, or answer it in a blog, I will send you and email back to let you know the answer is ready.
If you are going through a divorce, your thoughts are probably not focused on what your credit score looks like. However, this is exactly the time to think about these issues!
I have posted a video series to the MyCredEd YouTube channel discussing how you can protect your credit during this tough time. Remember, your divorce will be over soon, but the effects of a credit problem can last years longer!
You can view the Introduction video here:
Remember to ask your questions about credit and debt in the form to the right. I will answer via blog or video as soon as I can!
When you fill out the form, your question goes straight to my email inbox. I am an email addict, so I will see it quickly. If I put your question into a video, or answer it in a blog, I will send you and email back to let you know the answer is ready.
The statute of limitations for your state determines how long you can be sued for a debt. However, if you treat your debt wrong, the state of limitations can be reset and the clock starts over.
My latest Ask Brent video discusses this. You can watch it here: httpv://www.youtube.com/user/MyCredEd.
Remember to ask your questions about credit and debt in the form to the right. I will answer via blog or video as soon as I can!
When you fill out the form, your question goes straight to my email inbox. I am an email addict, so I will see it quickly. If I put your question into a video, or answer it in a blog, I will send you and email back to let you know the answer is ready.
If you have filed for bankruptcy, you are going to have to repair your credit.
The question becomes when do you start? My latest Ask Brent video addresses this. You can watch it here: httpv://www.youtube.com/user/MyCredEd. You can also see my blog entry on this subject by clicking here.
Remember to ask your questions about credit and debt in the form to the right. I will answer via blog or video as soon as I can!
When you fill out the form, your question goes straight to my email inbox. I am an email addict, so I will see it quickly. If I put your question into a video, or answer it in a blog, I will send you and email back to let you know the answer is ready.
The debt collector can get a lot of information about you. However, do they have the right to see your bank records?
My latest Ask Brent video addresses this. You can watch it here: httpv://www.youtube.com/user/MyCredEd.
Remember to ask your questions about credit and debt in the form to the right. I will answer via blog or video as soon as I can!
When you fill out the form, your question goes straight to my email inbox. I am an email addict, so I will see it quickly. If I put your question into a video, or answer it in a blog, I will send you and email back to let you know the answer is ready.
Recently, I have been getting a bunch of questions about credit, debt, foreclosure, bankruptcy, and other topics about credit.
The first couple of entries are already on YouTube, and you can see them here: httpv://www.youtube.com/user/MyCredEd
It can take a long time to write a blog entry, and I just don’t always have the time. So, I decided to go ahead and release some videos that answer the questions.
Here is how this works:
See the form to the right? You ask your question there. Just type in what you want to know, and I will work on answering it. Now, I can’t guarantee that I will answer every question, but I will do my best.
When you fill out the form, your question goes straight to my email inbox. I am an email addict, so I will see it quickly. If I put your question into a video, or answer it in a blog, I will send you and email back to let you know the answer is ready.
I am working hard to grow this blog, and I want to grow it in a way that helps you. So, please ask your questions!
Again, you can find the videos on YouTube right here:
http://www.youtube.com/user/MyCredEd
Well, it happened. You didn’t make your payments, and now your account is going to collections. I know how you feel. You get a sinking feeling in your gut, you know this is going to make getting credit really tough, and you start to worry about getting sued.
If you act early enough, you may be able to save this account. Each creditor has its own policy, but many are becoming more lenient as they are trying to work with debtors (you) to keep accounts open and money coming in.
If you feel that an account is going to be closed and sent to collections, you need to do several things quickly. First, call your creditor! Talk to them about your situation, and explain that you are getting back on track and want to make good on your debt. You may have to pay penalties and fees, but there is a possibility that you can get them to work with you.
Second, be prepared to make a payment immediately! They will have a ‘minimum payment’ needed to bring the account back into good standing. This is usually not negotiable, and they will want it now.
Third, be prepared to make a regular payment! You will have to pay on time, and the required amount, in order to keep your card in good standing. If you miss a payment, or don’t pay that minimum, your creditor may feel that they have no choice but to close the account.
Start working to manage your bills more effectively to make sure you don’t create more problems for yourself. Typically, after 1 year of regular payments, your creditors get more lenient and will work with you on interest rates, card limits, and payment schedules if you run into a problem. Don’t miss another payment, and make sure you pay at least the minimums when you make a payment.; Paying extra always reflects very well on you as well.
If you do save the account, you should be aware it will come with penalties. You will almost certainly pay a higher interest rate. Your credit limit will probably be reduced. And, it will be a LONG time before your creditor is willing to make any kind of a concession for you!
I found a great article at, of all places, a governement site. This article describes the problem with the debt repair industry, and why you should be doing things yourself, which I happen to really agree with.
Check it out here:
http://www.ftc.gov/bcp/conline/pubs/credit/repair.shtm
To get a copy of my FREE e-Book ‘The Top 10 Questions A Debt Collector Might Ask You’, just click the link. You will be taken to a page where you can get more information about downloading the e-book. This book tells you what you might hear during a call from a collector, how they use the information they get from you, and how you can protect yourself by not divulging too much.
Posted In: Credit, credit repair
