If I send a check payment to a creditor, can the creditor automatically start withdrawing payments from my checking account? Yes. For example, let's assume that each time you get your insurance bill, it includes a notice. The notice tells you that if you mail a check, you authorize your insurance company to use information from that check to make an electronic payment from your account. If you then send a check, you have agreed to electronic check conversion. Unlike what happens when you make a purchase at a store, however, you won't receive a receipt. Your check won't be returned to you with your account statement from your financial institution because the transaction was processed as an electronic fund transfer, not as a check transaction. For bill payments, you should take the same precautions as you do with electronic check conversions in stores. Be sure you have enough money in your account when you mail your check, keep records of your payments, and check your account statements from your financial institution to make sure the amounts charged are correct. What if I don't want my check to be used for electronic check conversion? If you don't want your check to be used for electronic check conversion, you may have to provide another form of payment (for example, cash, debit card, or credit card). Under federal law, billers (such as a utility or credit card company) are not required to provide you with an opportunity to opt out of electronic check conversion. However, you may try to contact billers directly at the address they provide and ask them not to convert your check.
- Helpful Tips. If your grade is low, the software offers tips to improve.
The software is 100% free, operates on Windows computers, and does not require entering sensitive data such as credit card numbers, bank account numbers, etc. The software does not require being online to use.
Download Instructions: Click on the download link above, select 'Open'. Follow download instructions (accept cookies, agree to Terms, etc). The CreditFederal software will download first, then the Sun J2SE software. Both programs are necessary for the Personal Finance Center to function. After both downloads are complete, an Icon (like the one displayed on the left) will appear on your main Windows display.
To launch, double-click the Icon on your computer desktop.
The software helps you track and itemize expenses, setup bill payment reminders, and it provides a credit grade based upon your debits.
The software is easy to use and 100% free. Operates on Windows computers and requires 16MB of disk space.
Don't forget to register for FREE Upgrades! As we update the software with additional free features, you can receive a notice via email simply by joining our free credit offers newsletter.
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Free Personal Budget Software. Do you know how much per year you spend on utilities? On insurance? On credit card payments? Get Credit Federal's free personal budget software to track expenses. It will calculate all your expenses and income, and will provide you with itemizations. This software can help you define where you mostly spend your money, and where you can make savings. Functions just like a checkbook register. It is 100% free, and operates directly from your personal computer (Windows Required). Download our free software.
Debt - As many as a third of consumers hide their debts from other family members. Men may be more likely to hide personal debts from their partners and do not tell them how much they really owe. Hidden debts can accumulate quickly just through pre approved credit card offers. Many times one partner completes those credit card offers without the other partnerís knowledge. Store cards and credit cards appear to be the most common way that hidden debts are acquired.
No matter how debt happens, getting control of debts is the most important thing to do. The average consumer usually has up to five or more credit cards and owes around five thousand dollars on just one card. One option is to do a balance transfer to a 0% or low introductory card. This can eliminate shuffling all those credit card balances and only have one card balance due each month. However, when a consumer's plan is not working, using a debt professional can help.
Debt professionals use several ways to help consumers get control of debts. There is debt consolidation, debt settlement, and credit counseling services. Knowing which service is best for your needs can also be determined by the help of a good professional. Millions of consumers are in debt and are not doing anything. Credit scores are more important than ever, ignoring debts is not a good idea and it can lead to more debt trouble and bad credit scores. Start early before debts are 60 days late and get on your way to being debt free and stress free. Getting out of debt can take time and sacrifices may need to be made until finances are on track.
One of the best tips for those who are in debt, is to stop spending money! Get out those bills and total what you really owe. Review all the minimum payments due and plan on paying more for each one that you can. Get a second job or find money in your budget by eliminating or reducing some bills. For example, cut cell phone plans, cancel club memberships, reduce the TV cable plan, and eliminate some hobbies until debts are payoff. It can time and effort to get control, but better credit scores and a less stressful life are the benefits.
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.
Consumer Credit Counseling helps you with budgeting and debt repayment options, as well as helping you to avoid filing bankruptcy.
CCCS Debt Relief Review: The majority of CCC agencies offer confidential budget counseling, and debt management programs. Debt management programs, also known as debt consolidation programs, are available on the Internet, by telephone and in person, at a nominal fee.
What Does CCCS Do? There are so many CCC agencies, it would be impossible for us to tell you what each one will, and will not do. Our review of CCC is an overall view of their offerings with more details provided about the Debt Management Program.
CCCS agencies have set up alliances with major creditors to:
* reduce or eliminate interest
* stop late payment fees
* reduce monthly payments
* educate consumers on money management
* negotiate debt repayment plans
Creditors participate because it is in their best interests for you get out of debt without bankruptcy. In most instances, if you file Chapter 7 Liquidation Bankruptcy, unsecured creditors won't collect anything.
Debt consolidation loans allow you to borrow to refinance or restructure debt. The options you have to have to borrow money, and make one monthly payment until you are out of debt include refinancing your mortgage or getting a home equity loan, equity loans, personal loans, etc.
What Do Debt Consolidation Loans Involve? They involve applying for the loan, being approved, then revising your budget to remove the paid debts, and including payment for new loans. It is important for your financial future, that you don't incur any more debt while making consolidation loan payments. If you do, you could find yourself back in over your head, and on your way to bankruptcy.
Quick Tips For Debt Consolidation Loans: If you haven't already done the Debt Worksheet (available in our printable monthly budget form), do it now. Review your Debt Worksheet so you know how much you need to borrow, and what interest rates you are currently paying.
* Do the Income Worksheet and Monthly Budget so you know how much of a payment you can afford.
* There is no fee, or obligation, when you apply online for a consolidation loan, so you can shop around for the best rate, and payment terms, you can get.
* Allow yourself some leeway in your budget when calculating payments on consolidation loans. This will help you to pay it off faster and save interest.
Debt Settlement, or debt negotiation, is the act of contacting your creditors and negotiating a lump sum payoff of your debt. If you are behind on paying your debts, sometimes you will even get a letter from the creditor directly offering a settlement amount of around 50% of your balance if you pay them in full within 10 to 20 days.
How To Negotiate Terms To Payoff Your Debts: You can do this, directly, or you can hire a professional debt negotiator, or arbitrator. It is not uncommon to pay 50% or less of the principal on your debt as settlement in full.
If you have access to money to use to make a lump sum payoff of your debts, then this will save you the most money in interest, and principal payments, of any debt relief program outside of bankruptcy. You should keep in mind, however, that some creditors may report your settlement to the major credit bureaus. However, when trying to get out of debt, and protect your credit as much as possible, debt settlement can be the most economical option for you.
Determining What You Can Afford: Some of the more common ways to get money to do a lump sum payoff are through savings, tax refunds, second mortgages, home equity loans, or refinance of existing mortgages, among others.