Debt
consolidation loan for credit card and unsecured bills.
Get a debt consolidation loan for credit card and other unsecured bills. You can use the loan to pay off credit card bills
or other debts.
Who qualifies for a debt consolidation loan?
If you are a home owner with adequate equity and a fair credit rating, you may qualify for a debt consolidation loan. Submit an application today for a free consultation.
Mortgage Refinance Debt Consolidation Loan
Non-Mortgage Refinancing, Debt Relief Options
Nonhomeowner debt consolidation loan?
Only a home owner can obtain a debt consolidation loan by using mortgage equity to secure the loan. The term "unsecured debt consolidation loan" does not mean that the loan itself is "unsecured". It is a loan which a home owner may use to consolidate and/or pay off "unsecured debt".
What is an alternative debt loan for a non home owner?
Non home owners can apply for auto refinancing (if their auto is over half paid off) or for a short term cash advance loan.
What are other non home owner debt help is available?
Non home owners can also enjoy debt consolidation without a loan by using debt consolidation or debt settlement
Benefits of a debt consolidation loan:
An unsecured debt consolidation loan lends itself to the objective of paying off unsecured debt, such as high interest credit card bills. By using a home's equity, the consumer can obtain a loan at a much lower interest rate than their credit card company is charging against the balance, thereby saving money. And, in many cases, the interest; although lower than credit card rates, may be tax deductible. Apply online today for an unsecured or credit card debt consolidation loan.
Don't know which debt program is best for you? Compare credit counseling vs debt settlement to help you decide which one offers the best benefits for your situation.
Whether you choose a credit counseling agency or a debt settlement company, either program can only help you with unsecured debt. Find out what types of unsecured debt qualify.
Can the bank change the account terms on my credit card account?
There are many types of changes the bank can make to your account, but there are also important protections for consumers. For example, there are limits on when the bank can raise your rate and certain fees.
Also, the bank generally must give you a written notice 45 days in advance of a change. You may have the right to reject the change, such as when the bank wishes to raise many types of fees. If you reject the change, the bank cannot apply it to your account.
Be sure to review your account agreement, which is the contract governing your credit card account. It provides information on changes that may occur to your account.
How must the bank notify me when it changes a significant term on my credit card account?
The bank must provide advance notice in writing when it makes changes to account terms that are "significant" or when it increases the required minimum payment. An increase in the Annual Percentage Rate and increases in many types of fees are significant changes that require an advance notice. The notice must be mailed or delivered to you at least 45 days before the change becomes effective.
However, there are some cases when the advance notice requirement does not apply. If you agreed to the change, the bank does not have to provide advance notice, but it has to give you notice before the change becomes effective.
Also, there are some cases when no notice is required. For example, if you have a variable interest rate tied to an index, and the index goes up, the bank does not have to provide you a notice of an increased rate. The bank also does not have to provide you notice if your rate is increasing because a promotional rate no longer applies, and the bank already gave you information about the terms of the promotion. Additionally, the bank does not have to provide you notice if it closes your account, suspends future credit privileges, or reduces your credit line. The bank does have to provide you a 45-day notice before it imposes a fee or penalty because you exceeded a new, lower credit limit.
Be sure to review your account agreement, which is the contract governing your account. It provides information on changes that may occur to your account..
Can I reject changes to my credit card account? It depends. You can reject many types of changes to your credit card account, such as an increase in many types of fees. However, you cannot reject other changes, such as an increase in the Annual Percentage Rate, an increase in the required minimum payment, or a change that results from the bank not receiving your payment within 60 days after the due date. You also will not be able to reject changes such as a suspension of your credit privileges.
If you receive a notice that says you have the right to reject the change, the notice will give you instructions on how you can do so and the toll-free number to call.
Even if you cant reject the change, you can still close your account if you want to avoid the change or not use your card for any more transactions.
My credit card has a fixed rate. Is the bank allowed to raise it? For credit card accounts, the term "fixed rate" usually does not mean that the rate can never be changed over the life of the account, although there are important limits. Starting February 22, 2010, banks cannot advertise a rate as fixed unless the ad also says how long the rate will be fixed and that it wont increase during that period.
In general, if you opened your account on or after February 22, 2010, the bank cannot change your fixed rate for one year after the account was opened. There are exceptions to the general rule. For instance, if you agreed to an introductory rate that ends after six months or more or if you are more than 60 days late in making a required payment on your account, the bank can increase the rate that applies to your existing balances and new transactions.
If you opened your account before February 22, 2010, the bank does not have to wait 12 months to raise your rate for new transactions. But regardless of when you opened your account, the bank usually must give you 45-days advance notice in writing before the rate change goes into effect.
After the rate change goes into effect, the bank can apply the new rate to transactions that occur more that 14 days after it sent you the 45-day advance notice. The old rate will apply to transactions that occurred before that. There are also important limits on how quickly the bank can require you to pay off the existing balance when it does this.
If you wish to avoid the rate increase, you should consider contacting the bank to close your account or not using your card for further transactions.
How often can the bank change the rate on my credit card account? If your account has a variable rate, the rate is tied to an index that can change. The bank can change your rate periodically when the index changes. Your account agreement will explain when changes to your variable rate can occur.
If your account does not have a variable rate, there are important limits on when your rate can change. If you opened your account on or after February 22, 2010, the bank generally cannot change your rate during the first year after the account was opened. After the first year, the bank can change your rate, but it has to give you 45 days notice in writing before the change takes effect. And the new rate will only apply to transactions that occurred more than 14 days after the notice was provided.
There are exceptions to the general rule. For instance, if you agreed to an introductory rate that ends after at least six months or if you are more than 60 days late in making a required payment, the bank can increase the rate that applies to your existing balances and new transactions.
If you opened your account before February 22, 2010, the bank does not have to wait 12 months after your account is opened to raise your rate for new transactions. But it still has to give you 45-days advance notice in writing before the rate change goes into effect.
Be sure to review your account agreement, which is the contract governing your credit card account. It provides information on changes that may occur to your account.
I just received a notice saying that the rate on my credit card account is going to increase in 45 days. Can I continue making purchases with my card at the existing rate for 45 days?
No, you will not be able to continue using your card for transactions at the existing rate for the entire 45 day period. The existing rate will apply to transactions that occur 14 days or less from the date the bank provided you the notice. After 14 days, the new rate will apply to further transactions. At the end of the 45-day period, the bank can begin charging the new rate for any balances you accrued after the 14th day after the bank sent the notice.
Please note that if your rate is increasing because you were more than 60 days late in making a required payment, the bank can apply the new rate to all your balances.
If you wish to avoid the rate increase, you should consider contacting the bank to close your account or not using your card for further transactions.
Review Disclaimer:
Review information was gleaned from the website, and is neither an endorsement by us nor an confirmation of content nor a warranty of any promises made by the website. Use the review information at your sole discretion and sole liability.
Those with bad credit often find themselves in a debt spiral-unable to afford to pay off debts, they face high finance charges and difficulty getting work or loans to start businesses or go to school.
Operation HOPE provides free one-on-one credit counseling services at all HOPE Center locations and over the phone. Our Certified Personal Finance Counselors help clients identify specific debt and budgeting issues-and take steps to establish or improve their credit.
Our credit counseling program includes:
* Free TransUnion credit report.
* One on one consultation with a credit professional.
* Assistance in writing dispute letters.
* Comprehensive budget preparation.
* Credit and Money Management Workshop.
HOPE GLOBAL HEADQUARTERS
707 Wilshire Boulevard, 30th Floor
Los Angeles, California 90017
(877) 592-HOPE (4673)
Review Disclaimer:
Review information was gleaned from the website, and is neither an endorsement by us nor an confirmation of content nor a warranty of any promises made by the website. Use the review information at your sole discretion and sole liability.
Nobody wants to remember a deceased family member by the debt they left behind, but many creditors certainly make it difficult to forget.
Denise Townley was appalled when she received a letter from her mother's credit card issuer less than two weeks after her mother passed away.
Confused and concerned that she was on the hook for her mother's debt, Townley called Discover. When she asked a probate specialist there how they knew her mother had passed away, she was told that Social Security furnished the information.
"I find this not only ethically abhorrent, but also irresponsible and insensitive on both parties' parts," said Townley.
But while it may be "ethically abhorrent," it's not illegal. Banks are within their rights to seek payment for debts owed by a deceased borrower, and the estate is liable for the debt if it has enough money.
"We understand that settling the affairs of loved ones is difficult," a Discover spokesman said. When contacting family members about the unpaid debts of deceased card members, Discover states upfront that payments on behalf of a deceased relative are voluntary, not required, he added.
How soon is too soon? Financial institutions typically receive notice of a person's passing from the Social Security Administration within a month or two, according to a recent review of the agency conducted by the Social Security Administration's Office of the Inspector General. Yet, in some cases, banks find out even earlier than that.
Because it's likely the deceased carried multiple debts, creditors often race to be the first to collect money from the next of kin or the estate before it has all dried up, said Gerri Detweiler, a debt specialist at credit card research and comparison site Credit.com.
Hey Social Security, I'm not dead! "The longer a creditor waits to get paid, the less their chance of getting paid," she said. "And unfortunately, they may find that it's easiest to elicit payment when bereaved relatives are still trying to sort everything out."
During her husband's wake, Deborah Crabtree said she had set up an answering machine and put it on speaker phone so that loved ones could leave their condolences, according to the complaint she filed against Bank of America.
But instead of hearing only the voices of friends and family come through the speakers, she said a debt collector from Bank of America Home Loan Servicing called every 15 minutes and left harassing messages about the debts her husband had left behind that everyone in the house could hear.
Even after the wake, Crabtree said Bank of America collectors called her as many as 48 times a day -- and even threatened to foreclose on her home, according to a lawsuit she filed last month against the bank.
Crabtree, who lives in Honolulu, said she had told the bank that she would pay the debt as soon as she received her husband's life insurance check. However, the agents told her that since the calls were computer-generated they couldn't stop them until the debt was paid.
Extreme debtors: Crabtree's lawsuit claims that Bank of America violated state debt collection laws. Her lawyer, Gary Shigemura, said the bank has not yet responded in court.
For its part, Bank of America declined to comment on the particular case, but a spokeswoman said that in general, the bank informs family members when they aren't responsible for the debt of a deceased relative.
The Federal Trade Commission recently declined to impose a "cooling off" period after a death, during which creditors wouldn't be allowed to go after a debt.
The FTC said it was unnecessary, since its rules under the Fair Debt Collection Practices Act already prohibit third-party debt collectors from collecting debts at "inconvenient times" and harassing customers.
Yet, the FTC only governs third-party debt collectors, not the banks -- which are regulated by individual states. And while many of the states have laws similar to the FTC's, the terms "harassment" and "inconvenient times" can be interpreted very differently by consumers and creditors, said Detweiler.
Do you owe money for the deceased's debt? Often mourners don't have enough time to grieve their loss, let alone assess the debts owed by the deceased -- and whether or not they're on the hook to pay for it.
Some debt collectors make family members feel responsible for debt owed by the deceased by asking them questions about whether they were the one who paid for the funeral or took care of other business related to the person's death, said Detweiler.
"They don't necessarily state that you are liable for the debt, but they blur the lines to make you feel like somehow you are responsible for it, even if it's just a moral responsibility," she said.
Chargeoff credit card - How to charge off credit card balances yourself, or get professional help from a debt settlement company.
Auto Loan: Get free quotes and apply for a new or used auto loan or for auto refinancing.
Credit Card: Search for secured and unsecured credit card applications and apply online. Applications for all types of cards ranging from an instant approval bad credit card to no deposit cards, including platinum credit card rewards.
Credit Report: Free credit report help to fix credit report errors and improve credit score ratings. You are entitled to one free credit report annually.
Free Credit Offers: Get no obligation, free credit offers plus financial tips to help effectively manage your personal finances.
Home Loan: Free multiple quotes from mortgage lenders. Apply for a new home loan and start building your financial security.
Mortgage Refinancing: 2nd mortgage loan and other types of mortgage refinancing for home remodeling, equity cash out or a debt consolidation loan and more.
Payday Loan: Easy approval bad credit unsecured loan with no credit check, no deposit and no security.
Personal Loan: Submit a short or long term personal loan application (if available), or apply for other secured or unsecured loan offers.
Personal Finance: How to file bankruptcy plus free bankruptcy forms. Create a household personal budget, balance a checkbook register, track expenses and more.
Collection Agency Contact - When a collection agency calls you, don't be afraid to answer the phone. Answer and ask these questions: What is your company name? What number do I call to supply new information or to ask additional questions? Where are you located? Who claims I owe this debt? If you do not recognize the debt, demand the agency to mail proof to you. If the agency cannot provide proof, you can send them a cease and desist letter which also forbids them to place a bad credit entry on your credit report.
Personal Credit Advice: If you are short of money and a bill is due that will result in a late payment penalty fee, what can you do? Charge the bill to your credit card, because the interest on it may be lower than the late fee. If you don't have a credit card due to bad credit, get a payday personal loan to fill the temporary cash shortage.
