Read the fine print.

Ok, I know its allot of words in small print. Too time consuming to worry about. Its ok I trust my sales person I dont need to read. I don't understand it anyway so why worry?. Well Worry!. The average consumer in our "Instant gratification" society would agree.. Until something goes just slightly of the tracks. I miss a payment and the interest rate quadruples. My account is frozen just when I need it the worst. etc. "They can't do that!. yup they can.
Its all in the magic print 18 paragraphs down middle of the page. You see it? It's there...

When you sign on the line for recieving your credit card, lease, purchase agreement or chattel mortgage, you have signed that you fully understand agree to and will abide by all of the terms and conditions mentioned in the agreement. Whether you read it or not you signed you did... So

Read them, understand them and if you can not understand them go home, take a copy of the document home get an interpreter, uncle Harry or whom ever and get to know all of the little details. The sale will wait, and so will the sales person. After all who are you ultimately buying your goods for? Them or you?

Credit card Balance Transfers

Credit Card Balance transfers can be used to reduce or sometimes eliminate interest payments on balances for a period of time. This "Holiday" can be used in some cases to allow you to completely pay off balances using the Credit Card companies money. Too good to be true? Not really. Too many American consumers do not realize that Bankrruptcy can be averted with a unique plan whereby the credit card companies supplier a line of credit to you and you never actually use the card to increase debt only the Credit line to decrease your existing debt. Interested in seeing how this works, please ask for more information on our www.bankruptcy-america.com blog questions?

wage earner vs bankruptcy

what\'s the difference ?

how long does it show on credit report ?

In a Bankruptcy in America Wage Earners (Chapter 13) will allow you to pay a portion of your debts off over a period of time and usually keep you home and other assets ( You must be employed with a regular income hence the term wage earners).

A Bankruptcy (Chapter 7) will usually cause you to have all of your debts discharged and you will likely loose your home and other assets. If you find you are totally disabled, laid off or sometimes self employed.

The difference between the wage earners (Chapter 13) and the bankrutpcy (Chapter 7) impact on the credit report is 3 years in total. Chapter 13 is a 7 year reporting limit and the Chapter 7 is a 10 year reporting limit. The chapter 13 is always the best option when available because you can start rebuilding your credit after the term of your settlement is up. Bankrutpcy in America has been effected by newly revised laws in the fall of 2005. Please ask more indepth questions and if you have any concerns use the Bankruptcy America online assessment.

Do I need an Attorney to do a Debt Consolidation?

A Debt Consolidation is a simple thing to avoid Bankruptcy. So simple the process is largely overlooked and used rarely because most individuals think they "Need" an attorney. Attorneys are only really needed when you do a Formal Debt Management or Consolidation Plan that involves the Federal Government. You may do one on your own with some simple guidlines. Bankruptcy-America.com can assist you in forming the strategy to first understand your debts then deal with them. This process is pain free and virtually cost free. Avoid the pains and agonys of Bankruptcy with help.

What does F.I.C.O. stand for?

FICO stands for Fair Isaac and Company.

These folks have developed a system that allows all of the content of an individuals Credit File to be condensced into a 3 digit number that runs between 330 and 850. The higher the number the better information we have on our file.

This system allows creditors to offer the "Instant Decision" at the car dealership or qualify you for the "no payments til 2011" type of marketing deal. For more information contact us directly at Bankruptcy-America.com

How will a Debt Consolidation effect my credit score?

An "informal" Debt consolidation... (One that you do outside of Chapter 13) Will not appreciably affect your credit score as in essence no Federal Protection is in place and no real reason for anyone to care enough to place any information on your file. If there is no information placed adversely on your credit file then your score should stay the same.
On the other hand if you do a formal Chapter 13 proceedure then the Government is brought in to make sure everyone stays on track and formal paper work is signed and issued to all of your creditors thus letting them (the creditors) make the decision to place an entry on your file... Perhaps affecting your scores.

What to look for in a fees at a Debt Consolidation Service

Fees are part of transacting for goods and services.. Some are "hidden" when they are only in the "fine print".. Any proprietary Debt Consolidation Service does not hide and misrepresent fees. It is on the shoulders of the consumer to be aware of what fees could be however in order to select the best service for them.

The size of your debt, the numbers of creditors owed and complexity of servicing them usually factor in to the cost of the services. I tend to look at how much cost for how much service.

Using a percentage of your total debt say 2-3% administered monthly is not a bad deal to get someone else to essentially cooridinate payment on your behalf.

More information on details are available with us.