Archive for July, 2010
Credit Counseling by SurePath Financial Solutions
SurePathFinancial asked:
SurePath Financial Solutions discusses their credit counseling services. SurePath Financial Solutions, a nonprofit organization, provides caring, innovative solutions that educate and empower consumers to successfully handle immediate financial challenges and plan for their future. Please note that In May 2009, we changed our name from Consumer Credit Counseling Service (CCCS) to Surepath Financial Solutions.
Darren
consumer credit counseling services
Posted by admin in Debt Consolidation Company on July 27, 2010
cassinova2010 asked:
www.canadadebtconsolidationnow.com visit this site for consumer credit counseling services
Lee
Credit Cards & Personal Loans : About Consumer Credit Counseling Agencies
ehowfinance asked:
Consumer credit counseling agencies are either public or private agencies that work with individuals to work out debt payment solutions. Contact a consumer credit counseling agency to get help consolidating credit card debt or loans withadvice from a financial adviser in this free video on money management and financial planning. Expert: Matthew McKillen Contact: www.innovativefg.com Bio: Matthew McKillen has more than 21 years of industry experience in arranging loans for his clients. Filmmaker: Christopher Rokosz
Howard
consumer credit counseling
Posted by admin in Credit Card Payments on July 27, 2010
cassinova2010 asked:
www.canadadebtconsolidationnow.com visit this site for consumer credit counseling
Thomas
Is Hiring A CCC (Consumer Credit Counseling) Agency Really Necessary?
Steven Douglas asked:
With all of the hype about the financial industry being to a negative effect, it is difficult to decide on the safest firm to hire. As a result of the natural level of uncertainty in this matter I have contrived a list of the pros and cons of going with CCC (consumer credit counseling).
Cons:
o You are paying a company to help you pay debts you cannot pay. As ironic as that sounds, it is exactly what you are doing.
Pros:
o By opting to hire a CCC firm, you are choosing to utilize the expertise of qualified credit repair professionals. This obviously gives you a better grip.
o A firm for hire usually has connections from within that allow them to negotiate credit balances, debts owed, and payment structures. This is not something you would be able to on your own.
o When you hire a company to do the dirty work for you, 95% of your stress is relieved. This is not to say that ALL of your life stresses will be transformed into a mental paradise as a direct result of hiring a CCC Agency; however, it is to say that you will be relieved of the burden of handling the minuet details and strenuous processes that are involved in the negotiation processes.
Now, this is by no means a complete list of the advantages and disadvantages. However, it is a realistic and comprehensive dissection of the major ups and downs.
If you have read this you are now better armed with factual pieces of information that should sway your credit repair plan. If you are still unsure about which way to go in regards to your decision, please further your research. This specific article is not the alpha and the omega. You can find an abundant amount of information online. Do your research!
And remember, it is your financial life. If you don’t fix it, who will?
Renee
With all of the hype about the financial industry being to a negative effect, it is difficult to decide on the safest firm to hire. As a result of the natural level of uncertainty in this matter I have contrived a list of the pros and cons of going with CCC (consumer credit counseling).
Cons:
o You are paying a company to help you pay debts you cannot pay. As ironic as that sounds, it is exactly what you are doing.
Pros:
o By opting to hire a CCC firm, you are choosing to utilize the expertise of qualified credit repair professionals. This obviously gives you a better grip.
o A firm for hire usually has connections from within that allow them to negotiate credit balances, debts owed, and payment structures. This is not something you would be able to on your own.
o When you hire a company to do the dirty work for you, 95% of your stress is relieved. This is not to say that ALL of your life stresses will be transformed into a mental paradise as a direct result of hiring a CCC Agency; however, it is to say that you will be relieved of the burden of handling the minuet details and strenuous processes that are involved in the negotiation processes.
Now, this is by no means a complete list of the advantages and disadvantages. However, it is a realistic and comprehensive dissection of the major ups and downs.
If you have read this you are now better armed with factual pieces of information that should sway your credit repair plan. If you are still unsure about which way to go in regards to your decision, please further your research. This specific article is not the alpha and the omega. You can find an abundant amount of information online. Do your research!
And remember, it is your financial life. If you don’t fix it, who will?
Renee
Consumer Credit Protection Act Explained in Detail
Kris Lee asked:
The foundational provisions of the Consumer Credit Protection Act are contained within the Truth in Lending Act (TILA), which requires the lending institution to state fully the terms of the loan it is offering. The lender must provide a written disclosure in plain, easy-to-understand language, specifying the following details:
* The amount of the loan or line of credit
* The interest rate, or APR (annual percentage rate), as an expression of the full cost of borrowing the money (meaning that there must not be hidden costs compensating for an artificially low interest rate)
* The method used to compute the monthly finance charge (the interest payment)
* The total cost of all payments (this applies to loans of a specific amount, not to credit)
* Any other conditions or terms of the loan, including the payment due date, any late fees, and early repayment penalties
In addition to requiring transparency from lenders about the terms of their loans, the CCPA also places important restrictions on wage garnishment. Wage garnishment is a legal procedure whereby a portion of a person’s earnings is withheld from his or her paycheck in order to pay off a debt. Wage garnishment can be ordered by a court when a person has defaulted on (failed to repay) a loan. The CCPA stipulates that an employer cannot fire an employee because his or her wages are being garnished for a single debt (the employer can fire the employee if his or her wages are garnished for more than one debt). It also sets a legal limit on how much (what portion) of a person’s wages can be withheld from any one paycheck. Usually, no more than 25 percent of a person’s wages can be garnished.
The Fair Credit Reporting Act (FCRA) was added to the CCPA in 1971. It was the first federal regulation to address the credit-reporting industry. (Credit-reporting agencies, also called consumer-reporting agencies or credit bureaus, are companies that collect and compile consumers’ credit-history information. The three major nationwide credit bureaus are Equifax, Experian, and TransUnion). The FCRA is intended to insure the accuracy, privacy, and fairness of consumer credit files. Protections contained in the FCRA also apply to consumer-reporting agencies that sell information about people’s medical histories (often used by insurance companies to decide whether or not to extend medical insurance coverage to individuals) and rental histories (used by prospective landlords). According to its provisions:
* The consumer has a right to see the information contained in his or her credit report. Traditionally there was a charge for accessing the report, but recent changes allow people to request a free credit report once a year from each of the major nationwide credit bureaus.
* The consumer must be notified if information in his or her credit report has been used to deny him or her credit.
* The consumer has a right to dispute any inaccurate information contained in his or her report, and the reporting agency is required to investigate any such claims unless they are deemed frivolous or baseless.
* Credit-reporting agencies are required to correct or delete any information about a consumer that is inaccurate, incomplete, or unverifiable.
* Credit-reporting agencies are not allowed to report negative information that is outdated (more than seven years old).
* Credit-reporting agencies may only give out an individual’s credit report to people with a valid need for seeing it, such as a prospective lender, landlord, insurer, or employer. Additionally, an individual must give the reporting agency written consent to disclose his or her credit report to an employer or prospective employer.
Another amendment to the CCPA, the Equal Credit Opportunity Act, which was added in 1976, prohibits credit lenders from discriminating against applicants on the basis of sex, race, age, marital status, religion, or national origin. Implemented in 1978, the Fair Debt Collection Practices Act (FDCPA) prohibits abusive, deceptive, and unfair debt-collection tactics, such as threats, persistent and intrusive phone calls, and other kinds of harassment.
The CCPA is designed to protect individual consumers. Its larger purpose, however, is to maintain consumer confidence in the financial system and thereby promote a robust economy. If consumers fear that they will be cheated by credit lenders, or that they have no access to, or control over, the information that is contained in their credit histories, their loss of confidence could cause them to avoid lending institutions altogether. A widespread loss of consumer confidence could lead to a major upset in the economy, something that the government, financial institutions, businesses, and consumers all have an interest in avoiding.
Scott
The foundational provisions of the Consumer Credit Protection Act are contained within the Truth in Lending Act (TILA), which requires the lending institution to state fully the terms of the loan it is offering. The lender must provide a written disclosure in plain, easy-to-understand language, specifying the following details:
* The amount of the loan or line of credit
* The interest rate, or APR (annual percentage rate), as an expression of the full cost of borrowing the money (meaning that there must not be hidden costs compensating for an artificially low interest rate)
* The method used to compute the monthly finance charge (the interest payment)
* The total cost of all payments (this applies to loans of a specific amount, not to credit)
* Any other conditions or terms of the loan, including the payment due date, any late fees, and early repayment penalties
In addition to requiring transparency from lenders about the terms of their loans, the CCPA also places important restrictions on wage garnishment. Wage garnishment is a legal procedure whereby a portion of a person’s earnings is withheld from his or her paycheck in order to pay off a debt. Wage garnishment can be ordered by a court when a person has defaulted on (failed to repay) a loan. The CCPA stipulates that an employer cannot fire an employee because his or her wages are being garnished for a single debt (the employer can fire the employee if his or her wages are garnished for more than one debt). It also sets a legal limit on how much (what portion) of a person’s wages can be withheld from any one paycheck. Usually, no more than 25 percent of a person’s wages can be garnished.
The Fair Credit Reporting Act (FCRA) was added to the CCPA in 1971. It was the first federal regulation to address the credit-reporting industry. (Credit-reporting agencies, also called consumer-reporting agencies or credit bureaus, are companies that collect and compile consumers’ credit-history information. The three major nationwide credit bureaus are Equifax, Experian, and TransUnion). The FCRA is intended to insure the accuracy, privacy, and fairness of consumer credit files. Protections contained in the FCRA also apply to consumer-reporting agencies that sell information about people’s medical histories (often used by insurance companies to decide whether or not to extend medical insurance coverage to individuals) and rental histories (used by prospective landlords). According to its provisions:
* The consumer has a right to see the information contained in his or her credit report. Traditionally there was a charge for accessing the report, but recent changes allow people to request a free credit report once a year from each of the major nationwide credit bureaus.
* The consumer must be notified if information in his or her credit report has been used to deny him or her credit.
* The consumer has a right to dispute any inaccurate information contained in his or her report, and the reporting agency is required to investigate any such claims unless they are deemed frivolous or baseless.
* Credit-reporting agencies are required to correct or delete any information about a consumer that is inaccurate, incomplete, or unverifiable.
* Credit-reporting agencies are not allowed to report negative information that is outdated (more than seven years old).
* Credit-reporting agencies may only give out an individual’s credit report to people with a valid need for seeing it, such as a prospective lender, landlord, insurer, or employer. Additionally, an individual must give the reporting agency written consent to disclose his or her credit report to an employer or prospective employer.
Another amendment to the CCPA, the Equal Credit Opportunity Act, which was added in 1976, prohibits credit lenders from discriminating against applicants on the basis of sex, race, age, marital status, religion, or national origin. Implemented in 1978, the Fair Debt Collection Practices Act (FDCPA) prohibits abusive, deceptive, and unfair debt-collection tactics, such as threats, persistent and intrusive phone calls, and other kinds of harassment.
The CCPA is designed to protect individual consumers. Its larger purpose, however, is to maintain consumer confidence in the financial system and thereby promote a robust economy. If consumers fear that they will be cheated by credit lenders, or that they have no access to, or control over, the information that is contained in their credit histories, their loss of confidence could cause them to avoid lending institutions altogether. A widespread loss of consumer confidence could lead to a major upset in the economy, something that the government, financial institutions, businesses, and consumers all have an interest in avoiding.
Scott
Debt Relief & Management Tips : In What Order Should You Pay Off Debts?
eHow asked:
Pay off smaller debts or debts with higher interest rates first. Choose the right debts to pay off first with tips from a consumer credit counselor in this free video on personal finance management. Expert: Maria Enomoto Contact: www.gotdebt.org Bio: Maria Enomoto works as a credit counselor for Consumer Credit Counseling services in San Jose, California. Filmmaker: Bing Hu
Beatrice
Debt Relief & Management Tips : How to Consolidate Credit Card Debt
eHow asked:
Consolidate credit card debt by taking out a personal loan or doing a credit card balance transfer. Consolidate credit card debt with tips from a consumer credit counselor in this free video on personal finance management. Expert: Maria Enomoto Contact: www.gotdebt.org Bio: Maria Enomoto works as a credit counselor for Consumer Credit Counseling services in San Jose, California. Filmmaker: Bing Hu
Annette
Consumer Credit Help – Find Help With a Credit Counseling Service
Frank L Froggatt asked:
In today’s society, having and maintaining a good credit rating is exceedingly important if you want to live a comfortable and financially stress-free life. A good score is necessary for those who want to get financing for a car or a new home or any other big-ticket item people commonly get loans for.
A high credit rating has even become a determining factor in one’s eligibility for employment and housing these days. So having and maintaining good credit is more important than ever before.
For those with a low score, life can be rough and restrictive. So many doors are closed to these people, making credit repair almost a necessary requirement for anyone desiring even the basics, (such as jobs or apartments) in life.
In order to improve and repair a bad credit score, you’ll first need to educate yourself. Understanding what credit really is and how it is used is important if you want to improve your standing, credit wise. It also will help prevent you from making all the same mistakes again which ruined your standing to start with. So begin any credit repair plan with knowledge and information to minimize confusion later on after you put your plan into action.
Next, you need to know where you stand. You can obtain a one free credit report from each of the three main credit reporting agencies each year (Experian, Trans Union and Experian). This will show you exactly what your score is and should help determine what you need to work on.
Paying off old outstanding debt is priority number one toward improving your credit rating. That will keep those creditors from continuing to post negative reports to the reporting agencies. If you cut off the sources of bad reports, you’ll have begun the process of improving your score.
Bear in mind, paying off all those old debts will not instantly provide you with a good credit rating. It simply keeps it from getting worse, which provides you the opportunity to begin the improvement process.
A good credit counselor can help educate you about your finances and can help you tailor a plan to meet your needs. They also provide information and examples to help you start getting positive reports on your credit history-which is exactly what it takes to see improvement. Please note that any credit repair strategy will take time and effort-there is no instant fix for this situation-and often it will require some lifestyle and spending changes.
Pauline
In today’s society, having and maintaining a good credit rating is exceedingly important if you want to live a comfortable and financially stress-free life. A good score is necessary for those who want to get financing for a car or a new home or any other big-ticket item people commonly get loans for.
A high credit rating has even become a determining factor in one’s eligibility for employment and housing these days. So having and maintaining good credit is more important than ever before.
For those with a low score, life can be rough and restrictive. So many doors are closed to these people, making credit repair almost a necessary requirement for anyone desiring even the basics, (such as jobs or apartments) in life.
In order to improve and repair a bad credit score, you’ll first need to educate yourself. Understanding what credit really is and how it is used is important if you want to improve your standing, credit wise. It also will help prevent you from making all the same mistakes again which ruined your standing to start with. So begin any credit repair plan with knowledge and information to minimize confusion later on after you put your plan into action.
Next, you need to know where you stand. You can obtain a one free credit report from each of the three main credit reporting agencies each year (Experian, Trans Union and Experian). This will show you exactly what your score is and should help determine what you need to work on.
Paying off old outstanding debt is priority number one toward improving your credit rating. That will keep those creditors from continuing to post negative reports to the reporting agencies. If you cut off the sources of bad reports, you’ll have begun the process of improving your score.
Bear in mind, paying off all those old debts will not instantly provide you with a good credit rating. It simply keeps it from getting worse, which provides you the opportunity to begin the improvement process.
A good credit counselor can help educate you about your finances and can help you tailor a plan to meet your needs. They also provide information and examples to help you start getting positive reports on your credit history-which is exactly what it takes to see improvement. Please note that any credit repair strategy will take time and effort-there is no instant fix for this situation-and often it will require some lifestyle and spending changes.
Pauline