https://creditscorekeys.com/ en https://creditscorekeys.com/7-things-to-know-about-rebuilding-your-credit-after-chapter-7-bankruptcy <span>7 Things to Know About Rebuilding Your Credit After Chapter 7 Bankruptcy</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Fri, 06/03/2016 - 14:16</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter"><img style="width: 550px; height: 365px;" title="Seven" src="https://www.billsbills.com/sites/www.billsbills.com/files/4728507724_c6b777cd9f_z.jpg" alt="Seven" /></p> <p class="rtecenter"><span style="font-size: 11px;"><em>Seven things to know about credit score recovery</em></span></p> <p class="rtecenter"><span style="font-size: 11px;"><em>Image Source: Flickr CC User Linda Aslund</em></span></p> When you’re deep in debt that you can’t afford to pay, bankruptcy may be a fit solution. But what you get out of your bankruptcy depends on the effort you put into improving your finances after you get your discharge. Here’s a look at seven things to know about rebuilding your credit after Chapter 7 bankruptcy to guide you on your way to financial recovery. <br /><!--more--><br /><br /><strong>#1 Write Yourself a Reality Check</strong> <br /> You must make an honest assessment of what landed you in bankruptcy. Even if it was something out of your control – like a job loss or medical issue – knowing what caused the problem is an opportunity for better preparation in the future. Bankruptcy offers a fresh start, but you need to know what led to your previous financial issues so you can avoid or defeat them in the future. <br /><br /><strong>#2 Correct Your Credit Reports – All Three</strong> <br /> Make sure all accounts included in your bankruptcy petition are noted on all three credit reports (TransUnion, Equifax, and Experian) and that lenders are not reporting delinquencies every month as if the accounts are still open. Also, confirm there are zero balances on all accounts included in the bankruptcy. From there, continue to monitor your credit reports to ensure that older items fall off your report as they should. <br /><br /><strong>#3 Establish Good Saving Habits</strong> <br /> You need savings as a safety net against future financial problems. This includes both an emergency fund and retirement savings. You also need savings to help reestablish your credit after bankruptcy. You should be able to get a secured credit card and start rebuilding your FICO score within six to nine months of discharge – but secured cards will require a cash deposit. <br /><br /><strong>#4 Establish Good Spending Habits</strong> <br /> In addition to saving, controlling your spending is key. That means taking a hard look at where your money goes, what’s needed, and what fat can be trimmed. Now is the time to change any bad habits you’ve developed, get on a budget, and develop a conservative approach to spending that allows you to save and prevents you from over-extending yourself. <br /><br /><strong>#5 Make Sure You Pay Everything on Time</strong> <br /> Roughly 35% of your FICO score calculation is based on payment history. Paying on time and in full every month will help beef up that part of your score. When it comes to credit cards, paying more than once a month may be preferable. Thanks to online access and bill pay capability, you can make payments on credit cards every payday rather than waiting until the due date. <br /><br /><strong>#6 Be Patient but Don’t Be Lazy</strong> <br /> Another important component of your <a href="https://www.billsbills.com/blog/whats-difference-between-credit-score-and-credit-report" target="_blank">credit score</a> is the length of your credit history. This means that the longer you have a credit account open, the more your score will boost. As soon as you can, post-bankruptcy, obtain a credit card (secured or unsecured) and start that clock ticking. You have to be patient when rebuilding your credit, but you should always be planning ahead. <br /><br /><strong>#7 Don’t Expect Any Quick Fixes</strong> <br /> If you’re tempted to have someone help you clean up your credit score after bankruptcy, such as a “credit repair program,” be careful. Bankruptcy will take care of your older accounts, and the residual cleaning you need to do – such as requesting old items be taken off or correcting accounts – you can do for yourself or work on with a qualified credit or bankruptcy attorney. <br /> The bottom line is that rebuilding your credit score after bankruptcy will take a while. You can get started a few months after your bankruptcy is discharged, but it will be a gradual process. The good news is that people who are in debt and choose to file bankruptcy usually see their credit scores rebound much faster than those who don’t choose bankruptcy and continue to wallow in debt. <br /><em>To find out more about the benefits of North Carolina bankruptcy, <a href="http://www.billsbills.com/contact" target="_blank">contact the Law Offices of John T Orcutt</a> today. Call [sk-company-phone] now for a free, no-obligation consultation at one of our convenient locations in [sk-office-locations]. Plus check out <a href="http://www.creditscorekeys.com" target="_blank">Credit Score Keys</a> for more information on rebuilding credit after bankruptcy.</em> <br /> Please read the original post on our affiliate site,<a href="https://www.billsbills.com/blog/7-things-know-about-rebuilding-your-credit-after-chapter-7-bankruptcy"> BillsBills</a>.</div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Fri, 03 Jun 2016 18:16:23 +0000 master 263 at https://creditscorekeys.com https://creditscorekeys.com/6-things-to-do-after-you-get-a-bankruptcy-discharge <span>6 Things to Do After You Get a Bankruptcy Discharge</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Sat, 08/22/2015 - 10:21</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter"><img style="width: 550px; height: 365px;" title="6 things" src="https://www.billsbills.com/sites/www.billsbills.com/files/5586809149_65608b9e57_z.jpg" alt="6 things" /></p> If you were deep in debt and decided to pursue a bankruptcy, if all goes well, you'll end up with a <a href="http://www.billsbills.com/blog/7-facts-about-bankruptcy-discharge" target="_blank">bankruptcy discharge</a>. With a Chapter 7, it takes about four months to get your discharge and with a Chapter 13, it will come at the end of your three to five year repayment plan. Once you have your discharge in hand, it's time to start rebuilding your credit and making the most of your fresh start. Today we'll take a look at six things you should do after you get your discharge to get – and stay – on the path to a brighter financial future. <br /><!--more--><br /><br /><strong>#1 Keep a Copy of Your Bankruptcy Petition and Discharge</strong> <br /> Once you get your bankruptcy discharge notification, be sure to keep it somewhere handy. Also, be sure to have a copy of your petition that your attorney filed along with all of the supporting schedules. This can be important if any debt collectors try to collect on debts that were discharged during bankruptcy or if items on your credit report aren't showing up properly. Keep all this paperwork on hand indefinitely. <br /><br /><strong>#2 Get a Copy of Your Credit Report</strong> <br /> The first step in improving your credit post-bankruptcy is to make sure your <a href="https://www.fdic.gov/consumers/consumer/ccc/reporting.html" target="_blank">credit report</a> correctly reflects your bankruptcy filing. All debts that were included in your bankruptcy filing should be noted as “discharged in bankruptcy.” You may see the same debt twice – once noted by the creditor and another if it went into collections. Be sure both show that they were discharged in bankruptcy. If you see any accounts that don't reflect properly, submit a copy of your petition and supporting schedule showing the debt was listed to the credit agencies should clear this up quickly. <br /><br /><strong>#3 Start Rebuilding Your Credit</strong> <br /> There are two prongs to improving your credit score after you get your bankruptcy discharge. The first is to get new credit – slowly and responsibly. The second is to make sure any remaining debts not discharged in bankruptcy are promptly paid. If you still have a car or house loan, make sure your payments are on time, every time. To get new credit, start with a <a href="http://www.nerdwallet.com/blog/top-credit-cards/nerdwallets-best-secured-credit-cards/" target="_blank">secured credit card</a> or reasonable new credit card offer. Use the card a little each month, but then pay in full so that your credit score improves from this new line of credit. <br /><br /><strong>#4 Make Arrangements on Other Remaining Debts</strong> <br /> Aside from your house and car, if you have other debts left over from your bankruptcy like student loans or back taxes that weren't discharged, you should tackle these right away. For taxes, contact the IRS or state revenue office and get on a payment plan or pitch a settlement offer. For student loans, apply for an affordable repayment plan like Income Based Repayment to get back on track. Be sure to keep up on whatever payment arrangements you made. <br /><br /><strong>#5 Build Up an Emergency Fund</strong> <br /> To keep yourself out of a future financial crisis, setting up an <a href="http://financialplan.about.com/od/savingmoney/a/emergencyfund.htm" target="_blank">emergency fund</a> is wise. A few thousand dollars set aside for a rainy day can make a huge difference in your financial stability. Be sure to stash your cash in a place you can't easily access with a debit card or check so that you're not tempted to spend it. This should be for bona fide emergencies only like a car repair or unexpected doctor bill, not a vacation or Christmas presents. <br /><br /><strong>#6 Focus on the Future</strong> <br /> Try to think beyond today, this week or next month and keep an eye on your long-term financial future. This means setting up a workable budget and sticking to it, paying your bills on time, controlling your spending and investing in your retirement. If you have a work 401(k), be sure to participate and take advantage of the match. If not, set up an IRA and diligently put money away each month. <br /> Please read the original post on our affiliate site,<a href="https://www.billsbills.com/blog/7-things-know-about-rebuilding-your-credit-after-chapter-7-bankruptcy"> BillsBills</a>.</div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/bankruptcy" hreflang="en">bankruptcy</a></div> </div> </div> Sat, 22 Aug 2015 14:21:00 +0000 master 260 at https://creditscorekeys.com https://creditscorekeys.com/why-your-credit-cards-got-out-of-control-and-are-crushing-you <span>Why Your Credit Cards Got Out of Control And Are Crushing You</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Tue, 08/18/2015 - 11:37</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter"><img style="width: 550px; height: 365px;" title="Credit card debt" src="https://www.billsbills.com/sites/www.billsbills.com/files/DSC03619-B_0.jpg" alt="Credit card debt" /> ​</p> Consumer confidence is up in the US as are <a href="https://www.billsbills.com/blog/credit-card-tips-issuers-are-raising-limits-debt-skyrocketing">credit limits</a>. As a result, debt is on the rise. According to Nerd Wallet, among US households with credit cards, the average credit card debt is near $16,000. All told, that's more than $901 billion, and it's on the rise month over month, but is down significantly from a high of close to $19,000 during the height of the recession. <br /><!--more--><br /><br /><strong>Are you in over your head?</strong> <br /> For many consumers, the $16k of debt is far too much for them to handle. And remember, that's just an average, and it can weigh differently on different households. For some people, $2,000 of credit card debt can be overly burdensome while, for others, $20k is no big deal based on their income and other debt. And it's not just the balance that matters but the interest rate and payment terms. <br /><br /><strong>If you are in too deep, how did it happen?</strong> <br /> There are several reasons that people get in over their heads with credit card debt. It doesn't get happen out of the blue – it's the result of a series of choices and consequences. Do any of these sound like you? <p class="rteindent1"><span style="text-decoration: underline;">Lifestyle choices:</span> Does the lifestyle you want to live exceed what you can afford based on your earnings? When people can't afford things they want with the cash they have on hand, they may indulge in credit spending.</p> <p class="rteindent1"><span style="text-decoration: underline;">Mental health issues:</span> Do you have a compulsive disorder? Or perhaps manic depression or bipolar disorder? These and other mental health problems can manifest symptoms of compulsive spending that can get out of hand quickly.</p> <p class="rteindent1"><span style="text-decoration: underline;">Overcommitting:</span> Are you a person who struggles to say no? Maybe you don't want to tell your kids they can't have the latest video game system or that you can't go to the movies. Or maybe you're the person people call when they need help, and you rack up credit helping them.</p> <p class="rteindent1"><span style="text-decoration: underline;">Medical crisis:</span> Have you or a loved one had a medical emergency? A serious accident or illness can leave you with a pile of medical bills. You may swipe your card for copays, to purchase medication or help cover bills and expenses. You may struggle further if medical issues keep you out of work.</p> <p class="rteindent1"><span style="text-decoration: underline;">Unemployment:</span> Have you or a loved one spent prolonged time out of work? Many people turn to plastic to cover expenses if they don't have enough savings to see them through a bout of unemployment. You may think it's okay because you'll just pay it off once you have your new job, but then weeks without a job turn to months and the bills keep piling up.</p> <p class="rteindent1"><span style="text-decoration: underline;">Financial emergency:</span> Have you had a financial crisis? Sometimes things crop up that force us to max out our credit cards all at once. Did your A/C unit die in the heat of summer? Or your heater right in the middle of winter? A major home or auto repair can push your credit card up to or over the limit and make life hard.</p> <br /><strong>What can you do about your excess credit card debt?</strong> <br /> If your credit cards are maxed out, but all your other bills are current, you should be able to belt-tighten and handle the debt. Quit eating out, reduce your cable, brown bag it for lunch, and put all the money you can toward your highest-interest card to eliminate the debt. Then move on to the next highest interest rate card until you have them all at a zero balance. Then try not to carry any balances month to month. <br /> Please read the original post on our affiliate site, <a href="https://www.billsbills.com/blog/why-your-credit-cards-got-out-control-and-are-crushing-you">BillsBills.com</a></div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Tue, 18 Aug 2015 15:37:38 +0000 master 261 at https://creditscorekeys.com https://creditscorekeys.com/celebrity-debt-news-rapper-ginuwine-brink-bankruptcy <span>Celebrity Debt News: Rapper Ginuwine Is on the Brink of Bankruptcy</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Mon, 08/17/2015 - 11:11</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p><img alt="Ginuwine" src="https://www.billsbills.com/sites/www.billsbills.com/files/bigstock-LOS-ANGELES--JUN---Ginuwine-34702598.jpg" /></p> <br /><p><span><em>Rapper Ginuwine reported to be on the brink of bankruptcy - what happened?</em></span></p> <br /><p>Today we bring news of another <a href="http://www.billsbills.com/blog/4-big-lessons-notorious-celebrity-bankruptcies">big celebrity in big money trouble</a> – rapper Ginuwine, otherwise known as Elgin Baylor Lumpkin. Despite a decade of platinum and multi-platinum selling albums, Ginuwine is drowning in most every type of debt and, according to his financial rep, is on the brink of filing bankruptcy. A couple of things seemed to have led to this financial conundrum and these are problems we can all understand. <!--more--> <br /><strong>Debt and Depression</strong> Around the time Ginuwine released his second album, his father killed himself and his mother died of cancer within a year. These were devastating occurrences and, as a result, he struggled with crippling depression and suicidal thoughts, Ginuwine admitted in an interview with Essence.com. Counseling from a family pastor improved his outlook but, very often, serious depression can impact the ability to focus, earn a living and keep your finances in order. This can happen to anyone. <a href="http://www.debt.org/advice/emotional-effects/">Debt and depression</a> often cause one another and worsen each other. <br /><strong>Debt and Divorce</strong> Ginuwine, like so many people, has suffered debt problems related to his family situation. Prior to meeting his wife, fellow rapper Tonya Johnston (known as Solé), Ginuwine had a son from another relationship, three other unidentified children with three other women and then two children with his wife Solé plus two children his wife had before they married. This left him supporting eight children, which is a financial feat of its own. <a href="http://necolebitchie.com/2014/11/ginuwine-sets-the-record-straight-on-his-divorce-to-sole-and-going-bankruptcy/">Their recent divorce</a>, among other business matters, has left Ginuwine seriously in debt. <br /><strong>Debt and Job Issues</strong> While Ginuwine was once a top-selling R&amp;B artist, his career has declined significantly. Decreased earnings combined with no decrease in family expenses spells money trouble for anyone and can often be worse when the money dries up. There's also a major lawsuit brewing against the rapper filed by the executive producer of his debut album “The Bachelor.” Robert Rieves alleged in a lawsuit that he is owed royalties from that album. These are debts tied to business and job problems. <br /><strong>Debt and Income Taxes</strong> Often when people struggle with finances – no matter what they do for a living or how much they earn – <a href="http://taxes.about.com/od/taxdebts/a/tax_debt.htm">tax troubles</a> naturally follow. This is also an issue for Ginuwine's financial circumstances. In addition to owing a pile of legal fees, the rapper is behind on taxes. His attorney, Bruce Beckner, issued this statement: “Mr. Lumpkin is very close to filing bankruptcy. He owes my firm a ton of money and a bunch of other people a ton of money. He owes Uncle Sam 300 odd thousand dollars in back income taxes.” <br /><strong>Debt and Bankruptcy</strong> In cases where someone goes through even one of these major financial issues, there can be dire results. Most bankruptcies are tied to major life events including illness or death of a loved one, divorce and income interruption. For Ginuwine, suffering all three of these major catastrophic occurrences, was more than enough to derail his finances to the point that bankruptcy seems like a viable option. When income drops but liabilities don't and there is no probability that income will rebound enough to catch up, bankruptcy can be a great help. <em><span>If you have suffered a major life event and are no buried in debt you can't deal with, <a href="http://www.billsbills.com/contact">contact the law offices of John T Orcutt</a> for a free consultation with one of our North Carolina bankruptcy experts today.</span></em> Please read the original post on our affiliate site,<a href="https://www.billsbills.com/blog/celebrity-debt-news-rapper-ginuwine-brink-bankruptcy"> BillsBills.com</a></p> </div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Mon, 17 Aug 2015 15:11:41 +0000 master 259 at https://creditscorekeys.com https://creditscorekeys.com/5-money-mistakes-that-can-wreck-your-finances-and-how-to-fix-them <span>5 Money Mistakes That Can Wreck Your Finances (And How to Fix Them)</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Sat, 08/15/2015 - 11:46</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter"><img style="width: 550px; height: 365px;" title="Money management" src="https://www.billsbills.com/sites/www.billsbills.com/files/register-810546_640.jpg" alt="Money management" /></p> <p class="rtecenter"><span style="font-size: 11px;"><em>Do your bad money habits register?</em></span></p> <p class="rtecenter"><span style="font-size: 11px;"><em>Image Source: Pixabay</em></span></p> Some people seem to be born with an innate sense of money management. These were the kids who saved up most of their allowance, mowed lawns or babysat, and socked away all the money so they could buy their own car at 16. These are the same people who, as adults, have never paid a bill late, have immaculate credit and a robust retirement account. And then there's most everyone else. Unfortunately, for far too many consumers, financial common sense is not second nature, and it's not something that's taught well in schools. <!--more--> <br /> Lack of financial education can result in bad habits that can wreck your finances for years to come. And to make things worse, one bad habit can often feed another and trap you in a cycle of debt accumulation that can be hard to dig out from under – but we can help. Today we look at seven of the most common money mistakes we see among our clients and how you can avoid – and even fix – these issues to get your money matters back on track. <br /><br /><strong>#1 Don't touch your retirement (and be sure to invest)</strong> <br /> Most consumers do not save enough for their retirement and underestimate the amount of money they will need to live on in their golden years. Plus, as Americans, we're staying in debt longer as we age which means our retirement funds aren't just used for living expenses, but to service debt and pay interest. Taking funds out of your retirement account to pay off debt is not wise – don't do it. Also, try not to borrow against those funds. And be sure to invest in your 401(k) with every payroll, at least to the extent that you max out your employer match, but hopefully much more! <br /><br /><strong>#2 Don't carry balances on your credit cards</strong> <br /> Ideally, you should never swipe your credit card for something you couldn't afford to buy with cash. If you buy an item with a credit card and don't pay it off in full that month, it's like you're taking out a high-interest loan. That's not a wise way to buy a TV, outfit, vacation, or computer that you want - you end up paying far more in the long run. Better to save up the money and buy when you can afford it. Using credit cards minimally then paying off in full each month will result in the best outcome for your credit score. Credit spending is one of the worst habits you can engage in and can wreck your finances. <br /><br /><strong>#3 Don't take cash advances off your credit cards</strong> <br /> Ordinary interest on credit cards is bad enough, but when you take a cash advance, your card issuer will usually charge a much higher interest rate on that amount. Card issuers will also often send “convenience” checks which you can write out just a like bank check. You can write it to yourself and deposit to your own bank account or write it to someone else, like to cover a bill, or to pay off a personal debt, or really for any reason. Convenience checks are also a cash advance and will result in higher interest charges. Shred these checks so you won't be tempted and never take a cash advance. <br /><br /><strong>#4 Don't avoid filing your taxes</strong> <br /> Even if you can't pay your income taxes, you should always file your tax return. That may sound crazy like you're just asking Uncle Sam to come after you, but it's the best approach. Why? If you don't file a tax return, the IRS files one for you, and they don't do a great job of it. They look at your income that's reported to them and give you just the standard deduction – that's it. This is called a replacement return and will result in the highest possible income tax assessment for your income scenario. Always file your returns even if you can't pay so that the statute of limitations on collections starts tolling. <br /><br /><strong>#5 Don't ignore </strong><b>creditors </b><br /><strong>but don't believe what they say</strong> <br /> You should never ignore calls or letters from a creditor or debt collector if you're behind on your debt. However, you have to take things they say with a grain of salt. You should educate yourself on what creditors and debt collectors can and cannot do. Check out the Consumer Financial Protection Bureau's website at CFPB.gov and browse for information on debt collection. If you get served with notice of a lawsuit for a past-due debt, that can't be ignored, and you must act. If a collector tells you if you don't pay, they'll have you arrested, that's a lie and can be disregarded. But you have to know the difference. <br /><em>If you've made money mistakes to the extent that you're deep in debt and can't pay your bills, we can help. You don't have to live paycheck to paycheck, stressed out and feeling hopeless. <a href="http://www.billsbills.com/contact">Contact the Law Offices of John T. Orcutt</a> to talk to a reputable North Carolina bankruptcy attorney today. Call (800) 899-1414 for a free consultation in Raleigh, Greensboro, Fayetteville, Wilson, Durham or Garner.  </em> <br /> Please read the original post on our affiliate site, <a href="https://www.billsbills.com/blog/5-money-mistakes-can-wreck-your-finances-and-how-fix-them">BillsBills.com</a></div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Sat, 15 Aug 2015 15:46:37 +0000 master 258 at https://creditscorekeys.com https://creditscorekeys.com/drowning-in-student-loans-new-plan-offers-hope-for-struggling-borrowers <span>Drowning in Student Loans? New Plan Offers Hope for Struggling Borrowers</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Fri, 08/14/2015 - 11:46</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter"><img style="width: 550px; height: 365px;" title="Student loans" src="https://www.billsbills.com/sites/www.billsbills.com/files/168H.jpg" alt="Student loans" /></p> Starting this Fall, millions more consumers with student loans will qualify for Pay As You Earn (PAYE), the most advantageous repayment plan for those with federal school debt. If you're struggling with student loans or are in default, this could be your chance to get current with an affordable payment plan. Getting into good standing with your student debt can boost your credit score, put an end to payroll or tax refund garnishment, and take a lot of stress out of your life. Here's what you need to know about the revised PAYE, called REPAYE, coming soon. <br /><!--more--><br /><br /><strong>Who can use PAYE or REPAYE?</strong> <br /> Formerly, only those who borrowed from the federal government after 2007 could use PAYE, and you also had to demonstrate financial hardship. If the negotiated rulemaking goes through as President Obama intends, both requirement would go away and most student loan debtors would be able to participate in the new program called REPAYE. It doesn't matter when you got your loans or whether they were used for trade school, undergraduate or graduate education so long as they are federal loans. <br /><br /><strong>How much are payments under PAYE or REPAYE?</strong> <br /> Payments cap at 10% of “discretionary income” no matter the amount of the debt. Discretionary income is the difference between the adjusted gross income (AGI) on your 1040 Tax Form and 150% of the federal poverty level for your family size. AGI is the number at the bottom of page one of your tax form after your income, exemptions for yourself, spouse and dependents, and certain deductions are factored. So if your AGI is $45,000, and you have a family of three, the poverty line is $20,090 times 1.5 = $30,135. From there, you calculate ($45,000 - $30,135) $14,865 in discretionary income x 10% = $1,487 = $124 monthly student loan payments (approximately). <br /><br /><strong>What's the catch?</strong> <br /> This low student loan payment amount means that you may be paying interest only and not chipping away at the principal. That can make the debt last longer. If you pay the standard loan payment, you will be done with your debt in 10 years. But if you can't afford to do that, PAYE can help you stay out of default. And, after 20 to 25 years of these lower, more affordable payments, the remaining balances will be forgiven. However, the amount forgiven will be subject to income tax liability. <br /> So, for instance, say you owe $45,000 in student loans and can't afford the payments and you sign up for REPAYE. Your payments are low and affordable which helps you keep current (which is a good thing). But, because the payments were so low, interest accrued and the loan balance rose rather than fell. After 20 years of payments, you now owe $55,000. That amount is written off and it becomes taxable income in that year. That can represent a significant tax hit. <br /> $55,000 in imputed income could result in an additional $10,000 (or more) in taxes that year - depending on your tax bracket. While that is a lot, when you compare the tax liability plus what you paid, to the total of payments you would have paid, you may find it's pretty comparable. And, the bottom line is, if you can't afford to pay your student loans under the standard repayment plan, getting onto REPAYE and in good standing is better than remaining in default or delinquent. <br /> But if you are currently in IBR or PAYE, this expansion will mean one negative consequence for you that can be significant. The new plan will take into account both spouses' incomes for determining payments - even if you file taxes separately. In years prior, for spouses that filed separate tax returns, only the student loan debtor's income counted for purposes of PAYE/IBR payment plan calculations. This usually reduced the payments and now will very likely increase them. But, overall, the expansion will benefit more borrowers and so is likely a good thing. The new expanded REPAYE should be in effect within a few months. You can enroll by contacting your loan servicer. And if you are in default, this can rehabilitate your loans and bring you current. <br /> Please read the original post on our affiliate site, <a href="https://www.billsbills.com/blog/drowning-student-loans-new-plan-offers-hope-struggling-borrowers">BillsBills.com</a></div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Fri, 14 Aug 2015 15:46:37 +0000 master 257 at https://creditscorekeys.com https://creditscorekeys.com/are-you-a-compulsive-spender-warning-signs-and-how-to-get-out-of-trouble <span>Are You a Compulsive Spender? Warning Signs and How to Get Out of Trouble</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Tue, 08/11/2015 - 11:46</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter"><img style="width: 550px; height: 365px;" title="Shopping too much" src="https://www.billsbills.com/sites/www.billsbills.com/files/3800915554_5872b3ffe3_z.jpg" alt="Shopping too much" /></p> Roughly 20 million Americans are compulsive shoppers – and that's not just people who love a good bargain – but people who have an actual psychological issue that causes them to spend compulsively. It's a real addiction that often results in real debt just as other addictions like alcohol and drug abuse ruin finances. If you have an addition to over-shopping, you may have maxed out your credit cards and drained your savings, and this is not a good situation to find yourself in, but there's hope. Today we look at some of the symptoms and solutions. <br /><!--more--><br /><br /><strong>Are you a casual or compulsive shopper?</strong> <br /> According to Debtors Anonymous, you may have a compulsive shopping problem if you: <br /> Don't return items you borrow from friends or family <br /> Cannot pay your bills or meet basic financial obligations <br /> Prefer to swipe with plastic than pay with cash <br /> Live for the now with no concern for tomorrow <br /> Have tons of clothes with the tags still on them <br /><br /><strong>Who are compulsive shoppers?</strong> <br /> Compulsive shoppers can be men or women, but 80% are female, and it tends to run in families. Men who are compulsive spenders tend to describe themselves as “collectors-.” The addiction usually manifests in the late teens or early twenties and will often continue until addressed through intervention or therapy. Surprisingly, even those with lower incomes are not immune to compulsive shopping - they just do it at the dollar store rather than the mall. Addictions have few boundaries. Clothing and shoes are the most popular items for compulsive spenders followed by jewelry, cosmetics, and household items. <br /><br /><strong>Why are you a compulsive shopper?</strong> <br /> Any number of reasons can cause addiction - that's a question for a therapist. It can be an issue from childhood such as abuse, poor role models, or may be to make up for a lack of something in your childhood or adult life. It's important to seek help just as you would for any other kind of addiction. In fact, those with <a href="http://www.altamirarecovery.com/blog/cant-buy-me-love-recognizing-the-symptoms-of-shopping-addiction/" target="_blank">compulsive shopping addictions</a> may also be suffering from depression, alcoholism or substance abuse. And just like other addictions, there is a tendency to deny that there's a problem, make excuses and hide it. Compulsive shoppers to spend alone, as alcoholics tend to drink alone. <br /><br /><strong>How does compulsive shopping make you feel?</strong> <br /> Most compulsive spenders feel depressed, tense, bored or anxious prior to spending and then during the spending spree, there experience feelings of euphoria, but these don't last. This is much like the high that comes with using drugs – they fade and then to get the feeling again, another thrill must be sought. After the spree, you will likely feel guilt, anger, disappointment and stress. This is no way to last. Anytime you rely on external things for a sense of happiness - that's a warning sign. <br /><br /><strong>What can you do about your shopping addiction?</strong> <br /> You have to stop, and you have to seek treatment. Groups like Debtors Anonymous can provide support just like a 12-step program for alcoholics. Individual therapy can also help if you can afford it or have insurance coverage to help. You may also need to hand over your credit and debit cards to your spouse to make sure you can't buy and just keep enough cash on hand for your necessities. Other channels to purchase may also need to be blocked as well including your iTunes account and any other digital accounts. <br /><br /><strong>What is the fallout from a shopping addiction?</strong> <br /> A serious shopping addiction can leave you with maxed out credit cards, an empty bank account, no savings, no retirement funds, and owing money to family and friends. Also, your loved ones may be angry at your actions, and you may be estranged from them because of your guilt and their frustration with you. In short, as with an alcoholic or drug addict, a shopping addiction can wreck your finances and every aspect of your life. <br /> Please read the original post on our affiliate site, <a href="https://www.billsbills.com/blog/are-you-compulsive-spender-warning-signs-and-how-get-out-trouble">BillsBills.com</a></div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Tue, 11 Aug 2015 15:46:36 +0000 master 256 at https://creditscorekeys.com https://creditscorekeys.com/4-reasons-you-may-not-want-to-negotiate-a-settlement-on-an-old-debt <span>4 Reasons You May Not Want To Negotiate A Settlement on an Old Debt</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Mon, 08/10/2015 - 11:46</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter"><img style="width: 550px; height: 365px;" title="Time flies" src="https://www.billsbills.com/sites/www.billsbills.com/files/4291413264_a73a24c387_z_0.jpg" alt="Time flies" /></p> If you're being hounded by a debt collector on an older debt, it may be tempting to take whatever deal they offer just to get them to stop calling. The saying that “the squeaky wheel gets the grease” has persisted for a reason – it's true. The loudest baby bird will get the most worms. And the debt collector who makes your life the most miserable is most likely to get your attention and your money, but that's likely not the wisest route to go. Here are some reasons to slow down before you pay up. <br /><!--more--><br /><br /><strong>#1 You can reset the statute of limitations</strong> – Debt collectors often get the loudest right before their options grow far more limited. In North Carolina, the statute of limitations to sue for most commercial debt is three years from the date of late activity (i.e. last charge or last payment). If it's been two years and 10 months since your last payment, you can expect a lot of noise to try and get you to send some money. If the debt collector can get you to send even $5, the statute of limitations resets! <br /><br /><strong>#2 You can pay someone you don't owe</strong> – Most debt collectors buy accounts then buy accounts from other collectors third or fourth hand. Your unpaid debt may change hands many times over its life before it expires. Somewhere along the way, the legal right to collect that debt will likely not follow the list that's being sold. In fact, your debt may be sold to several collectors at once. Push back on loud collectors to make them substantiate that they have the right to collect on the debt. <br /><br /><strong>#3 You can lower your credit score</strong> – If you have a debt that's older and is about to fall off your credit score, not making a payment is your best course of action. Once it falls off, it will stop negatively impacting your credit rating. But if the debt collector talks you into paying a small amount as “good faith gesture” and it resets your statute of limitations, you can look forward to another seven years of that credit transaction haunting your FICO score. And there's no way to undo this action once it's done. <br /><br /><strong>#4 You can lower your score for longer</strong> – If a debt collector contacts you about an older debt and can talk you into paying a lump sum, this will also hit your credit score hard. Even though you're technically paying off the account, it resets the statute, so it will be on your report for another seven years. And second, it shows as payment for less than the full amount, so that lowers you score. And because it's in collections, that's two negative entries on your credit that will last for years to come. <br /> When it comes to older accounts, often your best approach is to let the debt collectors continue to call and not cave in and make any payments and let the accounts fall off your credit report. To know when the statute of limitations expires, pull your free annual credit report and check the account they're calling about to verify. Also, be sure that the credit report is accurate. Sometimes creditors and debt collectors will try and keep the account active longer by showing activity at later dates. It should be the date of your last charge or your last payment. You may need to file a protest with the credit agency to fix it if the date is not correctly reflected. <br /> Please read the original post on our affiliate site, <a href="https://www.billsbills.com/blog/4-reasons-you-may-not-want-negotiate-settlement-old-debt">BillsBills.com</a></div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Mon, 10 Aug 2015 15:46:36 +0000 master 255 at https://creditscorekeys.com https://creditscorekeys.com/should-you-try-and-file-bankruptcy-without-a-lawyer-5-points-to-consider <span>Should You Try and File Bankruptcy Without a Lawyer? 5 Points to Consider</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Sun, 08/09/2015 - 11:46</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter"><img style="width: 550px; height: 365px;" title="DIY lawyer" src="https://www.billsbills.com/sites/www.billsbills.com/files/496707578_654f34cf83_o.jpg" alt="DIY lawyer" /></p> Are you living <a href="https://www.billsbills.com/blog/6-ways-budget-better-if-youre-living-paycheck-paycheck">paycheck to paycheck</a>? Are your debts so great that you are just scraping by each month and are so deep in unmanageable debt that you can't figure out what to do next? Has your life become solely about finances to the extent you're arguing with your spouse, grouchy with your children and distracted at work? Filing bankruptcy can help eradicate debt and turn your life around. But before you decide to try and DIY your bankruptcy thinking it's something you can handle yourself, here are five things to consider. <br /><!--more--><br /><br /><strong>#1 You are likely not to save money in the long run</strong> <br /> If you're thinking it will cheaper to file bankruptcy without an attorney, think again. First, the filing fees are identical whether you file pro se (for yourself) or with an attorney. The lawyer fees themselves are usually quite reasonable for a Chapter 7. And while you wouldn't have to pay these if you filed on your own, you could lose money in other ways that could see you paying more in the long run. For one, if you mess up your documents and your case is dismissed, you have to refile and pay another filing fee. <br /><br /><strong>#2 You are likely not to have all your possible debt dismissed</strong> <br /> Working with a North Carolina bankruptcy expert means they know exactly which debts of yours can be discharged and will make sure these are all included in your bankruptcy petition. Without knowing the law, it's likely you won't include a comprehensive list and will miss some debts that could have been relieved. That means those bills will still be hanging over your head, and that can end up costing you far more than an attorney's fee. <br /><br /><strong>#3 You are likely to be in over your head with the court system</strong> <br /> The court system is complicated and a hassle to navigate. And the judge and Trustee in your case will expect you to act as an attorney would. That means they will not spoon feed you information or assist you in any way. In fact, their hands are tied, and they can't give you anything that would be construed as legal advice. And even reading up on the law itself doesn't help you understand the way the court itself operates and what is expected of you. <br /><br /><strong>#4 You are likely to lose out to creditors in case of opposition</strong> <br /> Your creditors have the opportunity to show up to protect your bankruptcy filing at the 341 Meeting of Creditors. And when they get the bankruptcy notice, they'll see you're operating without an attorney. With you acting pro se, they may pounce and object to every possible aspect of your case so they can to try and derail you to keep pursuing you for the full amount of the debt. It's in their best interest to try and get your case dismissed so they can resume collections. <br /><br /><strong>#5 You are likely to find you're in more stress rather than less</strong> <br /> One of the reasons to consider bankruptcy is that it can offer you peace of mind – you get out of debt and can have a fresh start. But if you're trying to combat creditors, figure out how the courts work, interpret the law and complete lengthy documents, you're likely to find more stress rather than less. And if your case is dismissed and you have to refile, it can grow progressively more stressful rather than less as it drags on, and your debts are still there. <br /> Please read the original post on our affiliate site, <a href="https://www.billsbills.com/blog/should-you-try-and-file-bankruptcy-without-lawyer-5-points-consider">BillsBills.com</a></div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Sun, 09 Aug 2015 15:46:35 +0000 master 254 at https://creditscorekeys.com https://creditscorekeys.com/scam-alert-watch-out-for-calls-claiming-to-be-your-credit-card-fraud-department <span>Scam Alert: Watch Out for Calls Claiming to Be Your Credit Card Fraud Department</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Sat, 08/08/2015 - 11:46</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter"><img style="width: 550px; height: 365px;" title="Credit and debit card fraud" src="https://www.billsbills.com/sites/www.billsbills.com/files/5306417733_8cb2861516_z.jpg" alt="Credit and debit card fraud" /></p> There's a new credit card fraud that's once again spreading its ugly head again in North Carolina and across the country. This fraud can rob you of your credit card or debit card information which is then used to drain your account or max out your card. In today's scam alert, we tell NC consumers how this fraud operates and how to be on your toes, so you don't fall prey to it. <br /><!--more--><br /><br /><strong>How the scam starts</strong> <br /> You get a call on your cell or home phone saying it's an agent from VISA or MasterCard. They offer a name and tell you that they're calling from the “security and fraud” department or something similar. They may offer you a badge or ID number to try and make them sound more legitimate. They tell you that your card has been flagged for unusual purchase patterns or that your card has been frozen due to fraud. <br /><br /><strong>The debit card version of the scam</strong> <br /> In the debit card version of the scam, you get a call from a caller ID number that seems to be your bank. It's not. They tell you that your card was frozen due to suspicious activity. You are directed to call a number to order a replacement card. But when you call the number, that's just another scammer. <br /> They ask if you purchased a certain dollar amount item from a particular place (perhaps an online store). Of course, you won't recognize it since you didn't buy it. If you fall for it and call the second number to get a “replacement” card issued, you have to answer enough questions for them to get your current card information or to engage in identity theft. <br /><br /><strong>The credit card version of the scam</strong> <br /> With the credit card version, they call and say your card has been used for suspicious purchases and has been tagged as stolen. They ask if you made a certain purchase (of course, you didn't) and then tell you they're opening a fraud investigation. They also make it sound encouraging by saying they're issuing a credit for the amount of the unauthorized charge. They usually then ask you if the card has been lost or stolen. <br /> They usually then ask you to verify that you are in possession of the card. They will usually read off some of the numbers of your card and ask you to verify others and to verify the three-digit code on the back. They do this because, many times, scammers get part of your credit card information from pilfered receipts or other sources. They then ask for only the info they need to fill in the gaps. By the time the call is done, they'll be using your card for fraud. <br /><br /><strong>How to prevent being scammed</strong> <br /> If you get any call from your credit or debit card issuer, be suspicious. Sure, it may be a legitimate call, but you can't take any chances. You shouldn't ignore the idea that your card may have been hacked or stolen, you just can't trust a phone call or email. End the call immediately without providing any information. <br /> Instead, call the number on the back of your debit or credit card and talk to fraud service or customer service and tell them you were contacted about fraudulent activity on your card. They can confirm whether the call was legitimate and take care of you. Alternately, you can log in to your credit card account online and look for any security notices and message security or fraud services from the website. <br /> However, calling immediately may give you more peace of mind that your card is safe. If there's any question about the safety of your card, it's best to allow it to be closed down, and a replacement card sent to you. Of course this is an inconvenience but is better than being defrauded – particularly when it comes to your debit card since it's attached to your bank account. <br /> Please read the original post on our affiliate site, <a href="https://www.billsbills.com/blog/scam-alert-watch-out-calls-claiming-be-your-credit-card-fraud-department">BillsBills.com</a></div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Sat, 08 Aug 2015 15:46:35 +0000 master 253 at https://creditscorekeys.com https://creditscorekeys.com/wells-fargo-chastised-in-court-for-poor-treatment-of-bankruptcy-filers <span>Wells Fargo Chastised in Court for Poor Treatment of Bankruptcy Filers</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Fri, 08/07/2015 - 11:46</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter"><img style="width: 550px; height: 365px;" title="Wells Fargo" src="https://www.billsbills.com/sites/www.billsbills.com/files/14224371682_75e33ab829_z.jpg" alt="Wells Fargo" /></p> If you bank with Wells Fargo and are considering filing bankruptcy, there's something you should know. The bank makes it a policy of freezing funds of bankruptcy filers as a policy. Stripping access to funds is not required under bankruptcy law and can push already cash-strapped consumers into financial ruin. But a recent court case in New York sided with the bankruptcy filer and chastised the mega bank for its poor treatment of the debtor. <br /><!--more--><br /><br /><strong>When banks can legitimately freeze your money in bankruptcy</strong> <br /> In some cases, a bank or credit union can lawfully freeze or even seize some (or all) of your bank account funds when you file bankruptcy. If, for instance, you have a car loan, personal loan or credit card issued by your bank, they can take your money when you file bankruptcy. Say you have $3,000 in your bank account that you were planning to use as your cash reserve to cover living costs while you go through bankruptcy. And say you have a credit card issued by the same bank where you have your money stashed, and you owe $3,500 on the card. <br /> You file Chapter 7 bankruptcy then, a week later, try and swipe your debit card to buy groceries. Your card is rejected, and you're shocked. Then you log on and check your bank balance and find it is zero. Here's what happened. When banks offer credit to their customers, they have a right of offset written into the terms and conditions of the finance agreement. They can technically exercise this right at any time, but usually don't exercise the right. However, once your bank or credit union is notified that you've filed bankruptcy, they will likely exercise the right of offset and freeze then seize your funds. <br /><br /><strong>When banks freeze your money in bankruptcy for no reason</strong> <br /> But some banks make a habit of freezing money during bankruptcy even if you have no debt owed to them. They claim they do this to protect the rights of the Trustee and preserve your bankruptcy estate. But it's not required by law and they're just doing it because they can. Wells Fargo is one of these banks, but it's not the only one. And after Wells Fargo froze the money of one bankruptcy filer, he sued and won his case. <br /> The victory was not a huge financial win since it resulted in just $25 in damages but did cover all of his attorney's fees. And, as the judge in the case harshly criticized the bank for its actions, it was a moral victory as well. The National Association of Consumer Bankruptcy Attorneys (NACBA) filed a brief in support of the bankruptcy filer. President of the NACBA, Attorney Ed Boltz is one of the attorneys at the Law Offices of John T. Orcutt. He fights to protect the rights of consumers in North Carolina through the law practice and all across the country through his work at the NACBA. <br /><br /><strong>How to keep your funds safe during bankruptcy</strong> <br /> North Carolina bankruptcy exemptions protect assets during bankruptcy, up to a certain amount, including cash in the bank, unless there is a right of offset. If your bank does freeze your funds, your bankruptcy attorney can fight to get them unfrozen, but this can take time you don't have if you were relying on that money for living expenses. The better strategy is to not let them take your money at all, and you can prevent it. <br /> If you bank with <a href="https://www.billsbills.com/blog/four-reasons-change-your-bank-if-youre-considering-bankruptcy-near-future">Wells Fargo, Union Bank,</a> or a bank/credit union where you also owe a debt such as a mortgage, credit card or other loans, prior to filing bankruptcy and as soon as possible, take the following steps: <ul><li>Move your work direct deposit to a new bank that's unrelated to Wells Fargo or your existing bank or credit union</li> <li>If you have income that will be exempt from the bankruptcy, such as social security, set that to be direct deposited into another account separate from non-exempt income</li> <li>If you share a bank account with a spouse who is not filing bankruptcy with you, both of you should open new accounts separate from each other at a new institution</li> <li>If you share a bank account with someone else, like a parent, you should have yourself removed from their account for now</li> <li>Leave your other account open and with just a few dollars in it and then you can close it out after your bankruptcy is all wrapped up</li> </ul> Please read the original post on our affiliate site, <a href="https://www.billsbills.com/blog/wells-fargo-chastised-court-poor-treatment-bankruptcy-filers">BillsBills.com</a></div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Fri, 07 Aug 2015 15:46:34 +0000 master 252 at https://creditscorekeys.com https://creditscorekeys.com/supreme-court-ruling-on-affordable-care-act-may-decrease-bankruptcy-filings <span>Supreme Court Ruling on Affordable Care Act May Decrease Bankruptcy Filings</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Thu, 08/06/2015 - 11:46</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter"><img style="width: 550px; height: 365px;" title="Supreme Court" src="https://www.billsbills.com/sites/www.billsbills.com/files/37621686_0dcd0e12e5_z.jpg" alt="Supreme Court" /></p> The Supreme Court ruled 6-3 that the federal tax credits associated with the Affordable Care Act (ACA), commonly known as Obamacare, putting to rest objections to the healthcare law. If the high court had ruled the other way, tax credits in states without their own health insurance exchanges would have ceased effectively putting an end to the ACA, at least until a non-participating state changed its position or Congress redrafted the law. For now, like it or not, the federal insurance law is here to stay. What's interesting is how it may impact bankruptcy filings and may, in fact, decrease them. <br /><!--more--><br /><br /><strong>How the ACA Could Impact Bankruptcy Filings</strong> <br /> Northeastern University Law School professor Daniel Austin examined medical debt as a cause of bankruptcy, comparing national averages to those in Massachusetts where health insurance has been mandatory for a decade. Austin found that Massachusetts bankruptcy filers had nearly one-third the medical debt, on average, of those in other states. His investigation also found that the top cause of bankruptcy in Massachusetts is a loss of income, rather than medical debt as it may be in other states. <br /><br /><strong>Medical Debt as a Cause of Bankruptcy</strong> <br /> A study commissioned by Senator Elizabeth Warren cited medical debt as a cause of bankruptcy in 62% of filings. However, Austin stated in his paper that the number is closer to 25%. No doubt differing study methodologies and criteria are responsible for the disconnect. Either way, his research on Massachusetts filings was fascinating. His research, based on examining more than 5,000 bankruptcy cases and surveys of attorneys and bankruptcy filers, showed that less than 10% of bankruptcy filings in the state are driven by medical debt. That's impressive. <br /><br /><strong>Cases When the ACA May Not Help Medical Debt</strong> <br /> Those that participate in the Affordable Care Act and have purchased coverage through an exchange when they did not have insurance before should have less medical debt accumulate. A lack of insurance can lead to disastrous health and financial consequences. Those without coverage often go without proper medical care which can increase days lost from work, decrease income and result in prolonged unemployment. And when medical care is sought but the bills can't be paid, debt will accumulate. Thanks to the ACA, many lower and middle income families have been able to afford insurance for the first time with the help of the very federal tax credits the Supreme Court just green lit. But what's troublesome is that individuals and families in states who did not expand Medicaid coverage as part of ACA implementation <a href="https://www.billsbills.com/blog/many-north-carolina’s-poorest-could-be-shortchanged-affordable-care-act">fall in a gap</a> between earning too much to qualify for Medicaid yet too little to qualify for an ACA subsidy. These people will likely still be plagued by medical debt. <br /><br /><strong>Dealing with Older Medical Bills from Prior to ACA</strong> <br /> If you recently obtained insurance coverage but have medical bills sitting unpaid from prior, it can be burdensome. In North Carolina, the statute of limitations on medical bills is three years in most cases. That's not three years from the date of treatment but three years from the last time you made a payment on the debt. If you never made a payment, it's three years from treatment. <br /> If you make a partial payment at some point, the three-year clock will start ticking from that point. In addition, if you received medical services from a public hospital or public ambulance service, the statute may stretch to 10 years. The statute of limitations is important because that's how long the creditor has to try and collect by suing you in court. <br /> If you have a pile of medical bills you can't afford to pay, the first question is when the statute of limitations expires. If it's soon, you can likely just wait it out. However, if the bills are more recent, you are being hassled by debt collectors, and your medical bills are making your finances impossible, Chapter 7 bankruptcy may be a better solution. Chapter 7 wipes out medical bills and other unsecured debt and can give you a clean financial slate and a brighter future. <br /> Please read the original post on our affiliate site, <a href="https://www.billsbills.com/blog/supreme-court-ruling-affordable-care-act-may-decrease-bankruptcy-filings">BillsBills.com</a></div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Thu, 06 Aug 2015 15:46:34 +0000 master 251 at https://creditscorekeys.com https://creditscorekeys.com/celebrity-bankruptcy-alert-top-music-producer-blows-70-million <span>Celebrity Bankruptcy Alert: Top Music Producer Blows $70 Million</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Wed, 08/05/2015 - 11:40</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter"><img style="width: 550px; height: 365px;" title="Music producer" src="https://www.billsbills.com/sites/www.billsbills.com/files/13817948383_20a402d74c_z.jpg" alt="Music producer" /></p> Two days ago, celebrity bankruptcy news broke that top music producer <a href="http://blog.sfgate.com/dailydish/2015/06/25/scott-storch-new-songs-will-pull-me-out-of-bankruptcy/">Scott Storch filed for Chapter 7 protection</a>. Even if you don't know Storch's name, you certainly know the music he produced. He created beats for Beyonce, Jay Z, Dr. Dre and 50 Cent among others. By his early 30s, Storch was making six figures for 15 minutes of producing time. Now, <a href="http://www.tmz.com/2015/06/24/music-producer-scott-storch-files-bankruptcy/">he's got just $100 to his name</a>, and nine years after he hit his pinnacle, Storch filed bankruptcy to try and clean up his act. Here's a look at his fall from $70 million in today's celebrity bankruptcy alert. <br /><!--more--><br /><br /><strong>How Storch amassed a fortune</strong> <br /> Storch went from childhood music prodigy to adult phenom then saw it all fall apart. He was a child of divorce and learned about rags to riches from his father Paul who had a gambling addiction and would show up driving either a Porsche or a beater depending on how his finances were faring. According to his mom, a young Scott liked to wear Rolex knockoffs at a young age and sketch Cadillacs. <br /> Storch's dad Paul himself filed bankruptcy twice in 1997 and 2008. Storch dropped out of school and played piano to support himself after his dad left him. When he was 18, a scout from Geffen Records offered Storch's band a record deal. His manager Derek Johnson says Storch spent every penny as soon as it came into his hand, on watches, fast cars and the women he dated. <br /> In 1998, Storch moved to LA to produce for Dr. Dre. Scott Storch was a millionaire by age 26 and his mother says she begged him to spend more wisely, but her son told her the hip hop community expected him to be stylish and spend this way. At his peak, he had built up a fortune of $70 million including an impressive catalog of music he was credited with co-writing. <br /><br /><strong>How Scott Storch blew through $70 million</strong> <br /> So how did this incredible music producer blow through that much money? He bought an $11 million Miami mansion, a $20 million yacht and expensive jewelry for himself and his ladies including Kim Kardashian, Paris Hilton and Lindsay Lohan. He lavished cars, gifts and vacations on the women he dated and blew major cash partying with friends and treating himself to a luxe lifestyle 24/7/365. But even with all that spending, he was still working and likely could have stayed head above water. <br /> It was when Storch began abusing drugs, cocaine, in particular, according to his manager Derek Jackson, that thing started to really fall apart. Jackson blames the drug for Storch failing to show up at work, disappointing artists and the decline in his work and income. His cars were repossessed, his home was foreclosed on, he was sued and fell behind on child support payments for his two children. Storch has since gone through rehab and is rebuilding his professional reputation. <br /><br /><strong>How bankruptcy will help Scott Storch and could help you</strong> <br /> While most consumers don't have the dramatic highs and lows of <a href="https://www.billsbills.com/blog/celebrity-bankruptcy-alert-csi-actor-gary-dourdan-files-chapter-11-again">celebrity bankruptcy cases</a>, there are often common elements. Some people overspend - others fall prey to gambling, substance abuse or emotional issues that can lead to chronic overspending or cause earnings to fall. The bottom line is that anyone can get into money trouble. <br /> Everyone deserves a second chance and bankruptcy is one way to allow yourself to move past the mistakes of your past and on to a brighter financial future. Even with a case as extreme as Scott Storch's, United States bankruptcy law allows a reset and a chance to get past overwhelming debt and start again. <br /> Please read the original post on our affiliate site, <a href="https://www.billsbills.com/blog/celebrity-bankruptcy-alert-top-music-producer-blows-70-million">BillsBills.com</a></div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Wed, 05 Aug 2015 15:40:58 +0000 master 250 at https://creditscorekeys.com https://creditscorekeys.com/joint-bankruptcy-with-husband-and-wife-may-not-be-whats-best <span>Joint Bankruptcy With Husband and Wife May Not Be What&#039;s Best</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Tue, 08/04/2015 - 11:40</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter"><img style="width: 550px; height: 365px;" title="Marriage and bankruptcy " src="https://www.billsbills.com/sites/www.billsbills.com/files/3914799933_8cb0e1db4f_o.jpg" alt="Marriage and bankruptcy " /></p> For couples going through a tough time financially, bankruptcy can be one way to get you the debt relief you need. But before you jump in and file a joint bankruptcy, you may want to speak to an experienced North Carolina bankruptcy attorney. You should make sure you won't be better served by an individual bankruptcy filed by only you or your spouse. Here's what should be considered. <br /><!--more--><br /><br /><strong>#1 There is no requirement you must file together</strong> <br /> You may assume that you and your spouse must both file bankruptcy together, but this is absolutely not true. While your entire household income will be considered when evaluating whether you can file Chapter 7 or the terms of your repayment plan in Chapter 13, you do not have to file together. In some cases, it may be advantageous not to file jointly and in other cases, smarter to file jointly. <br /><br /><strong>#2 Consider which debts you need help with</strong> <br /> With most married couples, there is debt in the husband's name, some in the wife's name and some jointly. In rare cases, there may be no jointly held debt. To check, pull both of your credit reports and look at which accounts are in common. Then see which debts you're struggling to pay – if most are in only one spouse's name, it may be a better bet for only that spouse to file the bankruptcy. <br /><br /><strong>#3 Advantages to filing an individual rather than joint bankruptcy</strong> <br /> If most of the delinquent debt is in just one spouse's name, filing an individual bankruptcy may allow you to get current on any past due debt in the other spouse's name and protect their credit rating. This can be particularly true with a Chapter 7 since it will wipe out all unsecured debt of the filing spouse. You can then free up funds to devote to the remaining debt. <br /><br /><strong>#4 Disadvantages of filing individual versus joint bankruptcy</strong> <br /> For any co-signed debt, if one spouse files a Chapter 7 bankruptcy, the entire legal weight of the debt will flip to the co-signer. If you cannot afford to service the co-signed debt after the Chapter 7, it will continue to drag down the credit rating of the non-filer. In this case, it may be preferable to go ahead and file jointly. With an individual Chapter 13, you'll have more time to catch up on co-signed debt. <br /><br /><strong>#5 Consider what assets you need to protect</strong> <br /><a href="http://www.legalconsumer.com/bankruptcy/bankruptcy-law.php?ST=NC">North Carolina bankruptcy exemptions</a> that allow you to protect a reasonable amount of assets during a bankruptcy. For instance, as an individual filer, you can protect $35,000 of equity in a home. If you have more equity than this, you may want to file jointly so you can protect up to $70,000 of equity as a couple. All exemptions double when a couple files bankruptcy rather than an individual. <br /><br /><strong>#6 Evaluate the state of your marriage</strong> <br /><a href="http://www.investopedia.com/articles/pf/09/marriage-killing-money-issues.asp">Money problems</a> are a major source of contention in a marriage and one of the top causes of divorce. If your marriage is on the rocks as well as your finances, you should have an honest discussion about the fate of your marriage. If you divorce, then one of you files an individual bankruptcy, the other party could be left owing any co-signed debt no matter what your divorce papers say. Better to file bankruptcy, clear up your money issues then <a href="https://www.billsbills.com/blog/deep-debt-and-verge-divorce-why-filing-bankruptcy-prior-splitting-can-be-better">enter into the divorce process</a>. <br /> Please read the original post on our affiliate site, <a href="https://www.billsbills.com/blog/joint-bankruptcy-husband-and-wife-may-not-be-whats-best">BillsBills.com</a></div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Tue, 04 Aug 2015 15:40:57 +0000 master 249 at https://creditscorekeys.com https://creditscorekeys.com/taylor-swift-scam-alert-dont-let-your-summer-fun-fall-prey-to-fraud <span>Taylor Swift Scam Alert: Don&#039;t Let Your Summer Fun Fall Prey to Fraud</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Sun, 08/02/2015 - 11:40</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter"><img style="width: 550px; height: 365px;" title="Taylor Swift concert" src="https://www.billsbills.com/sites/www.billsbills.com/files/18301485932_1a4920dfa6_z.jpg" alt="Taylor Swift concert" /></p> Taylor Swift is on her 1989 tour, and that means tweens and teens (and even some unabashed adults) are excited about scoring tickets to her sold-out shows. Swift performed at the PNC Arena for a packed house in June and will be back to the Greensboro Coliseum in late October. Unfortunately, many superfans have been scammed with fake Swift concert tickets that have left them cheated out of hundreds of dollars and blocked from the concert they desperately wanted to see. <br /><br /><!--more--><br /><br /><br /><strong>North Carolina Taylor Swift concert ticket scam</strong> <br /><br /> For Swift's PNC Arena in Raleigh, there were at least 30 fans that found out they had been scammed and sold fake tickets to the show. And many more bought tickets in scams and never received even a fake ticket. Sold out shows are a prime target for scammers because they know that fans are willing to pay big bucks to often shady sources in hopes of landing a ticket. <a href="https://www.billsbills.com/blog/north-carolina-consumer-alert-3-craigslist-scams-watch-out">Craigslist is the most common venue</a> for bogus ticket sales. <br /><br /> Ads were placed with photos of fake (or real) tickets, money collected then the tickets never traded hands. One of the more brazen scams occurred when the buyer met the seller outside the PNC Arena and paid for the tickets but was given counterfeits. When the buyer went to enter the Arena, they were sent away and told their tickets were no good. One scam victim said, “I was really disappointed in the humanity of that guy... Probably the first person that bought that ticket got in and then all the rest of us with that ticket, it had already been scanned.” <br /><br /><br /><strong>How to Avoid a Ticket Scam</strong> <br /><br /> The best way to avoid being scammed with concert tickets is to buy from a legitimate seller such as Ticketmaster, LiveNation or directly from the box office. But if the concert sells out, fans often turn to other sources to try and buy tickets to a sold-out show. In this case, here are some tips to protect you from a scam: <ul><li>Only use a trusted reseller – VividSeats.com and TicketExchangebyTicketMaster.com are two that are legitimate</li> <li>Meet in person to purchase the tickets – but know that it can be difficult to tell the difference from a real ticket and a bogus one</li> <li>Purchase with a credit card – if you buy with a credit card, you can always file a complaint and block the transfer of funds</li> <li>Check the seller's reputation – Google the reseller to see if there are scam notices or negative reviews of their activities</li> </ul><br /><strong>Be Sure to Report Scams</strong> <br /><br /> One of the victims of the recent Taylor Swift concert ticket scam in Raleigh was lucky. She tweeted out about being cheated and Swift's opening act saw her post. That band sent the girl front row seats to make up for the tween being ripped off – but know that's not likely to happen in most cases. While it won't help you get into the show, it's important to report these scams to the authorities to prevent it from happening to someone else. <br /><br /> If you paid via PayPal, also be sure and <a href="https://www.paypal.com/us/webapps/helpcenter/helphub/article/?solutionId=FAQ2174">file a dispute with PayPal</a> – you may be able to get the scammer's PayPal account shut down. In North Carolina, also contact the <a href="http://www.ncdoj.gov/getdoc/fdbee1c7-c2a9-4f67-91b2-bb50beea1c0a/2-2-12-File-a-Complaint.aspx">North Carolina Department of Justice</a>. If you buy tickets in person, snap a photo of the seller and ask to see their identification and snap a photo of that too in case the tickets turn out to be fake. With that in hand, you have enough evidence to go to your local police as well. And asking to take a pic may give the scammer second thoughts about defrauding you. <br /><br /> Please read the original post on our affiliate site, <a href="https://www.billsbills.com/blog/taylor-swift-scam-alert-dont-let-your-summer-fun-fall-prey-fraud">BillsBills.com</a></div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Sun, 02 Aug 2015 15:40:56 +0000 master 248 at https://creditscorekeys.com https://creditscorekeys.com/announcing-the-va-accreditation-of-ed-boltz-to-assist-north-carolina-soldiers-and-veterans <span>Announcing the VA Accreditation of Ed Boltz to Assist North Carolina Soldiers and Veterans</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Sat, 08/01/2015 - 11:40</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter"><img style="width: 550px; height: 365px;" title="Department of Veterans Affairs" src="https://www.billsbills.com/sites/www.billsbills.com/files/VA%20logo_0.jpg" alt="Department of Veterans Affairs" /></p> The Veterans Administration accredits select attorneys to help veterans pursue their rightful benefits and protections under the law from only the most qualified legal representatives. The Law Offices of John T. Orcutt is pleased to announce that attorney <a href="http://www.va.gov/ogc/apps/accreditation/accredpeopledetail.asp?ID={BF95BAD6-A35E-4359-9508-DD59CC41A8ED}&amp;Type=Attorney" target="_blank">Ed Boltz has been accredited</a> by the United States Department of Veterans Affairs to assist veterans, specifically in regards to financial problems, including bankruptcy, foreclosures, illegal debt collection and student loans. <br /><br /><!--more--><br /><br /><br /><strong>Service Members and Money Problems</strong> <br /><br /> Veterans and military members are more likely to deal with financial challenges than non-veterans. A survey by <a href="https://www.nfcc.org/press/multimedia/news-releases/national-foundation-for-credit-counseling-survey-reveals-financial-weaknesses-among-military-servicemembers/" target="_blank">The National Foundation for Credit Counseling</a> showed that service members have an increased instance of financial troubles and this carries over to when they are veterans. These include the following issues: <ul><li>77% of service members have financial stresses</li> <li>57% worry about loss of income and job security due to defense cuts</li> <li>28% are more concerned about their finances than they were a year ago</li> <li>55% believe they are not prepared for a financial emergency</li> <li>60% say they have had to turn to non-traditional lenders</li> <li>49% have taken out loans in the past year from sources including payday lenders, friends and family, or credit card cash advances</li> <li>Twice as many servicemen as civilians applied for credit cards last year</li> <li>58% carry credit card debt month to month compared to 34% of civilians</li> <li>6% of service members have paid less than the minimum on credit cards compared to 3% of civilians</li> <li>5% obtained cash advances from their credit cards compared to just 2% of civilians</li> </ul><br /><strong>Causes of Veteran Financial Problems</strong> <br /><br /> The wars in Iraq and Afghanistan began to close down at the same time that the US economy was struggling. That meant those transitioning from active duty to veteran status struggled to find jobs. 66% of veterans surveyed said that the transition was difficult and roughly 50% were not prepared for the transition. 66% of veterans also said that health problems resulting from their military service impacted their ability to find a job as a veteran and led to financial issues. <br /><br /> The Consumer Financial Protection Bureau (CFPB) is actively concerned with protecting veterans and their families. The CFPB collects complaints and the top three complaints from veterans and their family members include debt collections, credit reporting issues, and student loans. To help combat the financial struggles of affected veterans, the CFPB has launched a financial coaching initiative that placed certified financial coaches at Department of Labor American Job Centers around the country. <br /><br /><br /><strong>Financial Solutions for Veterans</strong> <br /><br /> For service members and veterans struggling with debts they cannot pay, there are legal remedies available that offer relief and peace of mind. The Service Members Civil Relief Act (SCRA) offers military personnel protections and privileges as it relates to debt, debt collections, interest rates, and collection lawsuits, among other issues. Further, other state and federal consumer rights laws provide additional protection for service members, veterans and civilians alike against abusive debt collectors, including illegal contacts to a service member’s chain of command. <br /><br /> And for those service members and veterans whose debts are so great that they cannot afford to pay them? Bankruptcy can help protect the security clearance of those who are on active duty or are veterans working in a civilian position that requires a clearance. Chapter 13 bankruptcy offers time to catch up on past due bills while Chapter 7 offers complete discharge of most unsecured debts, including credit cards, medical bills, and most collection accounts. Additionally, there are student loan plans and foreclosure prevention programs that can help prevent loss of homes, garnishment of wages or further damage to credit scores and security clearance. <br /><br /><br /><strong>Contact the Law Offices of John T. Orcutt for Veteran's Assistance</strong> <br /><br /> Please read the original post on our affiliate site, <a href="https://www.billsbills.com/blog/announcing-va-accreditation-ed-boltz-assist-north-carolina-soldiers-and-veterans">BillsBills.com</a>gotcha</div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Sat, 01 Aug 2015 15:40:56 +0000 master 247 at https://creditscorekeys.com https://creditscorekeys.com/celebrity-bankruptcy-success-story-real-housewives-sonja-morgan-emerges-from-chapter-11 <span>Celebrity Bankruptcy Success Story – Real Housewives Sonja Morgan Emerges from Chapter 11</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Fri, 07/31/2015 - 11:40</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter"><img alt="Get out of debt" src="https://www.billsbills.com/sites/www.billsbills.com/files/Chapter%2011.jpg" style="width: 550px; height: 365px;" title="Get out of debt" /></p> <br /><br /><p>Often, <a href="https://www.billsbills.com/blog/celebrity-bankruptcy-update-todd-chrisley-gets-sweet-deal-chapter-7-case">celebrity bankruptcy stories</a> are all riches to rags (or a more modest lifestyle). Usually, the stars grow accustomed to a certain lifestyle then when their income drops, they try to keep it up which results in increased debt. Then comes the bankruptcy filing. But for Real Housewives of New York star Sonja Morgan, her bankruptcy has been a resounding success that she's proud to celebrate.<br /><br /><!--more--><br /><br /><br /><strong>What Led to the </strong><br /><strong>RHONY</strong><br /><strong> Star's Bankruptcy</strong><br /><br /> As with most people that turn to bankruptcy for financial relief, Morgan's problems began with major life events. In the reality star's case, it was a $7 million investment in an indie film that was her first calamity. The movie venture failed and then she was embroiled in a messy divorce from her much older wealthy husband. That's two difficult life events that both increased her expenses and decreased her income. To make things worse, when she sold two multi-million dollar properties she was awarded in the divorce to try and cover her debts, her ex sued her for part of the proceeds.<br /><br /><br /><strong>How the Divorce Aggravated Her Debts</strong><br /><br /> Morgan was married to mega-rich John Morgan, heir to the JP Morgan fortune so her lifestyle likely would need a major adjustment once she had no more access to his assets and income. John also owed her a $3 million lump sum as part of the divorce and held part of her real estate sales back from her. Her ex went so far as to file objections to Sonja's bankruptcy case trying to block the sale of properties she was awarded in the divorce that she wanted to sell to pay her creditors. Thankfully, the roadblocks that John threw out during her bankruptcy have ceased.<br /><br /> Her wealthy ex, who lives on his own island in Long Island Sound in Connecticut and is <a href="http://www.celebritynetworth.com/richest-businessmen/wall-street/john-adams-morgan-net-worth/">worth an estimated $100 million,</a> is holding out on paying anything associated with Sonja, the divorce, and her bankruptcy – including his own legal bills. But Sonja's bankruptcy judge dismissed claims that John filed attempting to <a href="http://radaronline.com/exclusives/2015/01/sonja-morgan-bankruptcy-real-housewives-new-york-sanctions/">interfere with her Chapter 11</a> case writing that John Morgan's claims are “are highly contested and subject to objection, offset and subordination.”<br /><br /><br /><strong>Sonja Bounces Back After Success Chapter 11</strong><br /><br /> After the legal hurdles with her ex were taken care of and she sold two pricey properties, a Manhattan bankruptcy judge accepted her bankruptcy plan so she can pay her debts and move on to better things. Sonja Morgan said, “Now I’m free to 100% just build my businesses and be fully creative again. The Chapter 11 reorganization was a full-time job in itself with millions of dollars in administration fees.” She has started a successful fashion line and recently held a New York fashion show to flaunt her designs. Sonja also owns successful NYC catering and event planning business Sonja In the City.<br /><br /> Please read the original post on our affiliate site, <a href="https://www.billsbills.com/blog/celebrity-bankruptcy-success-story-real-housewives-sonja-morgan-emerges-chapter-11">BillsBills.com</a><br /><br /><br /><strong>Bankruptcy Can Help Anyone Deep in Debt Get a Fresh Start</strong><br /><br /> Sonja Morgan filed Chapter 11 bankruptcy, an option for either a business that needs time to reorganize debts or an individual debtor who has more debt than a Chapter 7 will accommodate by law. But for most consumers, a Chapter 7 or Chapter 13 is the likely route to get the debt relief you need. Chapter 13 can help you stop foreclosure on your home or repossession of your vehicle and give you time to catch up on past due balances. And Chapter 7 is a complete debt liquidation option that can wipe out medical bills, credit card debts and other unsecured debts to get a fresh start.gotcha</p> gotchagotcha</div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Fri, 31 Jul 2015 15:40:55 +0000 master 246 at https://creditscorekeys.com https://creditscorekeys.com/5-money-problems-crushing-american-consumers-and-how-bankruptcy-can-help <span>5 Money Problems Crushing American Consumers – And How Bankruptcy Can Help</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Thu, 07/30/2015 - 11:40</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter"><img style="width: 550px; height: 350px;" title="Debt" src="https://www.billsbills.com/sites/www.billsbills.com/files/8585191068_6e1bcdbbe5_z.jpg" alt="Debt" /></p> While the economy is recovering, there are still struggles out there. There are pockets of North Carolina where unemployment is still high, and average incomes are lower than more prosperous areas of the state. And even in areas where recovery has made inroads, there are still many individuals who are not doing well financially. Today we take a look at the top five causes of money problems that are affecting indebted consumers in North Carolina and all across the country. <br /><br /><!--more--><br /><br /><br /><strong>#1 School Loans</strong> <br /><br /> Student debt averages roughly <a href="http://blogs.wsj.com/economics/2015/05/08/congratulations-class-of-2015-youre-the-most-indebted-ever-for-now/">$30,000 per graduate</a> and even people into their 60s now have student loans weighing them down. When federal student loans go into delinquency, the Department of Education can garnish your wages without filing a lawsuit. In North Carolina, federal student loans are one of the few legal garnishments that can be taken from your pay. And once a student loan garnishment begins, it can be difficult to deal with or end. Oppressive student loan debt can ruin credit ratings, prevent you from buying a home, car or getting a job that requires a good credit rating. <br /><br /><br /><strong>#2 Illness or Disability</strong> <br /><br /> A severe illness or medical problem that limits the ability to work can prove disastrous to your finances. This often leads to medical bills that can overrun what your insurance will cover and leave you with thousands or even tens of thousands of dollars of debt you can't afford to pay. Time lost from work, even in the short-run can exacerbate this situation and allow debt to go from a challenge to pay to an impossibility. And an illness or disability that is long-term or permanent can make this a non-recoverable proposition without a serious debt intervention of some sort. <br /><br /><br /><strong>#3 Transportation Problems</strong> <br /><br /> Car trouble is the worst. If you don't have an emergency fund to bail you out, a major car repair can be unaffordable and leave you without a way to get to work. This can lead you to make other poor choices like taking a cash advance on your credit card, maxing out your credit lines, or purchasing a new car when you can't truly afford the car payment. If you're still paying on the old car that's having troubles, this can make a bad situation even worse. And being without a vehicle may mean that you could lose your job if you can't find an alternate means to get to work. <br /><br /><br /><strong>#4 Taking on Debt for Others</strong> <br /><br /> If your family hits hard times, you may feel like you have to help them. This can lead you to drain your savings, run up credit cards, cosign loans for them or whatever else you need to do to help them stay afloat. Older parents often go into debt to help their adult children (and even grandchildren) to stay afloat financially, often to their detriment. And on the flip side, many <a href="http://www.macfound.org/press/publications/family-support-aging-societies/">adult children may take a financial hit</a> to help their aging parents afford medical care, in-home medical support, or a retirement or nursing home. Situations like these can wipe out more than one generation financially. <br /><br /><br /><strong>#5 Chronic Overspending</strong> <br /><br /> While most of these other common sources of troublesome debt are out of your hands and may happen as a result of circumstance, this last one is entirely self-inflicted. If you're not good at saving or if you routinely spend every penny of your paycheck on non-necessities, if you keep your credit cards maxed out because you can't stop buying clothes, electronics, eating out or partying, you can wreck your finances. Some overly-indebted consumers grew accustomed to a certain lifestyle then when their income dropped, they didn't <a href="https://www.billsbills.com/blog/6-signs-you-may-be-compulsive-spender">adjust their spending down</a>. <br /><br /> You may live in a nice house, drive a newer car and try to keep up appearances but are drowning in debt. You may be living paycheck to paycheck but don't want your friends, coworkers or family to know you're on the brink of a financial disaster. Chapter 7 and Chapter 13 bankruptcy are both viable options to get you out of debt and give you the financial fresh start and peace of mind you deserve. Please read the original post on our affiliate site, <a href="https://www.billsbills.com/blog/5-money-problems-crushing-american-consumers-and-how-bankruptcy-can-help">BillsBills.com</a></div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Thu, 30 Jul 2015 15:40:55 +0000 master 245 at https://creditscorekeys.com https://creditscorekeys.com/could-your-bankruptcy-case-be-dismissed-yes-and-heres-why <span>Could Your Bankruptcy Case Be Dismissed? Yes and Here&#039;s Why!</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Wed, 07/29/2015 - 11:37</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter"><img style="width: 550px; height: 365px;" title="Case dismissed" src="https://www.billsbills.com/sites/www.billsbills.com/files/3332913590_6a7ff17784_z.jpg" alt="Case dismissed" /></p> Both <a href="http://www.americanbar.org/content/dam/aba/migrated/publiced/practical/books/family_legal_guide/bankruptcy_7_13.authcheckdam.pdf">Chapter 7 and Chapter 13</a> can be perfect paths to meaningful debt relief. Chapter 7 allows you to discharge most unsecured debts including medical bills and credit cards. Chapter 13 allows you extra time to catch up on past due secured debt like your mortgage or car loan and is also the only option open to those who can't qualify for a Chapter 7 bankruptcy. But in either of these bankruptcy chapters, you should know that your case could potentially be dismissed. Here's a look at the types of dismissal and the reasons for dismissal. <br /><!--more--><br /><br /><strong>Voluntary Versus Involuntary Dismissal</strong> <br /> Voluntary dismissal is when you request that your case be dismissed. You might ask for a dismissal if you decide that filing bankruptcy was a mistake or other issues crop up. An involuntary dismissal occurs against your wishes if you fail to meet the legal requirements for bankruptcy or fail to submit required documents such as tax returns. Below is more detailed information on voluntary and involuntary dismissal by bankruptcy chapter. <br /><br /><strong>Chapter 7 and Chapter 13 Involuntary Dismissal</strong> <br /> Here are some of the usual reasons that either a Chapter 7 or Chapter 13 bankruptcy could be dismissed involuntarily: <ul><li>You fail to complete required bankruptcy credit counseling</li> <li>You provide inaccurate information as part of your bankruptcy petition</li> <li>You fail to pay required court fees</li> <li>You didn't attend your <a href="https://www.billsbills.com/blog/will-creditors-come-my-341-meeting-if-they-do-what-does-it-mean-and-it-bad-sign">341 Meeting of Creditors</a></li> <li>You failed to provide tax returns or payroll documents</li> </ul> With a Chapter 13, you may also face involuntary dismissal of your bankruptcy if you fail to make required plan payments to your Trustee. <br /><br /><strong>Chapter 7 and Chapter 13 Voluntary Dismissal</strong> <br /> To obtain a Chapter 13 voluntary dismissal, you can submit a letter to the court (or have your attorney do so) asking for the dismissal. There's no reason it should not be granted. With a Chapter 7, though, you may not be able to obtain a dismissal because the process moves so fast. It will be left up to the judge whether or not to dismiss your case. Here are some reasons that bankruptcy filers may request a voluntary dismissal: <ul><li>You decide that filing isn't a good idea for personal reasons</li> <li>You find you have income or assets to cover your debts</li> <li>You find some assets will not be protected by exemption</li> <li>You find out the debts you most need discharged are ineligible (such as income taxes)</li> </ul><br /><strong>Can You Refile Bankruptcy After a Dismissal?</strong> <br /> What matters is whether the case was dismissed with prejudice or without prejudice. A <a href="http://www.thebankruptcysite.org/resources/bankruptcy/bankruptcy-planning/when-your-bankruptcy-case-">dismissal without prejudice</a> means you are free and clear to file another bankruptcy immediately. This can occur if you don't complete some needed actions and you need to get these straightened out then want to pursue bankruptcy relief again. Usually, your dismissal will be issued without prejudice if: <ul><li>You fail to file requested forms or provide supporting documents</li> <li>You missed a court hearing like the 341 Meeting or a confirmation hearing</li> <li>You don't pay required court filing fees or your Chapter 13 plan payments</li> <li>You don't meet eligibility requirements for that bankruptcy chapter</li> <li>You don't complete your required credit counseling</li> </ul> In contrast, the court could dismiss your bankruptcy with prejudice if you: <ul><li>Hide assets, conceal income or otherwise lie in your bankruptcy filing</li> <li>Violate court orders or abuse bankruptcy protections to your benefit</li> </ul> Please read the original post on our affiliate site,<a href="https://www.billsbills.com/blog/could-your-bankruptcy-case-be-dismissed-yes-and-heres-why"> BillsBills</a>.</div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Wed, 29 Jul 2015 15:37:38 +0000 master 244 at https://creditscorekeys.com https://creditscorekeys.com/celebrity-bankruptcy-news-50-cent-files-boxing-business-chapter-11 <span>Celebrity Bankruptcy News: 50 Cent Files Boxing Business Chapter 11</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Tue, 07/28/2015 - 11:37</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter"><img alt="Boxing business bankruptcy" src="https://www.billsbills.com/sites/www.billsbills.com/files/16012968614_bfae18647a_z.jpg" style="width: 550px; height: 365px;" title="Boxing business bankruptcy" /></p> <br /><p> </p> <br /><p> </p> <br /><p>Curtis James Jackson III, better known by his stage name 50 Cent, has a boxing promotion firm called SMS Promotions and Jackson just filed business bankruptcy. We'll take a look at what happened, why Fiddy's company is struggling, his plans for the future of this enterprise and more in today's celebrity bankruptcy update.<br /><br /><!--more--><br /><br /><br /><strong>How the Business Started</strong><br /><br /> This isn't Fiddy's first foray into the world of boxing. In fact, it's his second and both times his companies have struggled. Back in 2012, Jackson started TMT (The Money Team) with his friend and business partner Floyd Mayweather Jr. Unfortunately, they parted ways after less than six months into their deal reportedly due to a disagreement over money. Then, in December 2012, Jackson converted the company to SMS Promotions.<br /><br /> SMS was the name he used to promote his audio products including blinged out headphones. When Jackson founded SMS Promotions in late 2012, he was able to gain a promoter's license from the Nevada State Athletic Commission and already held a New York state license. He landed four top fighters: featherweight Yuriorkis Gamboa, super middleweight and Olympian Andre Dirrell, IBF featherweight Billy Dib and featherweight Celestino Caballero. Gamboa and Dib were both former titlists and Dirrell, a contender.<br /><br /><span style="line-height: 1.6em;">In his announcement launching SMS Promotions, </span><a href="http://realtalkny.uproxx.com/2012/11/topic/topic/news/50-cent-launches-sms-promotions/" style="line-height: 1.6em;">Jackson said</a><span style="line-height: 1.6em;">, “I love boxing and have always been a big fan of the sport, so it feels especially great for me to be involved with the game at this level. My goal is to build SMS Promotions into one of boxing's </span><span style="line-height: 1.6em;"> most respected promoters and bring the best fights to audiences nationwide.” Jackson's first promoted fight with the new firm was Gamboa’s fight that preceded the Pacquiao-Marquez fight in December 2012.</span><br /><br /><br /><strong>How the Business Went South</strong><br /><br /> But despite this auspicious beginning, Jackson filed Chapter 11 a few weeks ago in Connecticut but pledges that his SMS Promotions isn't going under, just going through a reorganization. His lawyer made this statement: “Under the direction of Mr. Jackson, SMS Promotions looks forward to reorganizing as a new corporate entity and becoming one of the leading promotion companies in the world of professional boxing.”<br /><br /> Since the promising start with a roster of top boxers, Jackson's roster of athletes isn't what is once was and that may be part of the problem with SMS Promotions. Former champ Dirrell left Jackson's firm, and Dib has not had a great fight record while with Fiddy's company. Court documents listed the company debts as between $100,000 and $500,000 which is not a terribly high amount of debt for the successful rap mogul.<br /><br /><br /><strong>Lessons Learned from This Celebrity Bankruptcy</strong><br /><br /> The good news is, Jackson seems to have kept his personal and business assets separate which is the best approach for business owners. This means that the business bankruptcy <a href="http://www.bankrate.com/finance/debt/business-bankruptcy-hurt-credit-score.aspx">should not impact his credit score</a> so long as he was not personally liable for any of the debt. Likely the rapper was careful about his incorporation so that his credit score and assets were not at risk in case of trouble with the company.<br /><br /> Please read the original post on our affiliate site, <a href="https://www.billsbills.com/blog/celebrity-bankruptcy-news-50-cent-files-boxing-business-chapter-11">BillsBills.com</a>WOW</p> <br /><p> </p> <br /><p> </p> </div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Tue, 28 Jul 2015 15:37:37 +0000 master 243 at https://creditscorekeys.com https://creditscorekeys.com/can-you-get-a-business-loan-or-start-a-business-after-bankruptcy <span>Can You Get a Business Loan or Start a Business After Bankruptcy?</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Mon, 07/27/2015 - 11:37</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter"><img style="width: 550px; height: 365px;" title="Business loan" src="https://www.billsbills.com/sites/www.billsbills.com/files/4322705955_dd4f810a9c_z.jpg" alt="Business loan" /></p> If you already own a business and need funding or are planning to start a business, you may need a <a href="http://www.bankrate.com/finance/personal-finance/3-ways-to-get-a-small-business-loan-1.aspx">business loan</a>. But if you have previously filed bankruptcy (or are considering one) you may be worried how it will affect your ability to finance your business. Here's what you need to know about getting a business loan after bankruptcy and how to make yourself more appealing to potential lenders. <br /><!--more--><br /><br /><strong>Was It a Personal vs. Business Bankruptcy?</strong> <br /> The first factor to consider is whether you filed a business or personal bankruptcy. If you filed a personal bankruptcy, but your business has been around for a while and has a good reputation for credit, your personal financial situation may not come into consideration. But if you're just starting a business or it hasn't been established very long, the lender will very likely want to pull your personal credit as part of the lending process. And this means a recently filed personal bankruptcy could make the process of borrowing more difficult. If you filed business bankruptcy, this would also make borrowing more rigorous. <br /><br /><strong>How Long Has it Been Since Your Bankruptcy?</strong> <br /> Because <a href="http://www.experian.com/blogs/ask-experian/2010/08/18/bankruptcy-remains-on-report-for-up-to-10-years/">bankruptcies stay on your credit</a> for seven to ten years, the time between when you file bankruptcy and when you apply for a loan is important. If you're fresh off a bankruptcy filing, it's likely not a great time to apply for a loan. But if it's been several years since your bankruptcy and you took serious steps to rebuild your credit after your bankruptcy, it may not be as big of a deal. The bottom line is that the longer between filing bankruptcy and applying for a loan, the better. And, the shorter time between your bankruptcy and loan application, the higher your interest rates will be. But if it's been seven years or more since you filed bankruptcy, it should not be an issue at all. <br /><br /><strong>Ways to Improve Your Business Credit After Bankruptcy</strong> <br /><em>#1 Rebuild Your Credit</em> <br /> After you file bankruptcy, it's important to begin <a href="https://www.billsbills.com/blog/5-ways-use-credit-cards-rebuild-your-credit-after-bankruptcy">rebuilding your credit</a> right away. You'll need to start small with a secured credit card, and then a small loan of a few hundred dollars and build from there. It's imperative that you pay all your bills on time and meet all of your obligations from the moment you file your bankruptcy going forward. <br /><em>#2 Keep Personal and Business Money Separate</em> <br /> Make sure that your personal and business finances remain distinct and apart. This will keep financial problems in one arena from affecting the other. It also minimizes risk to your personal assets if your business goes through a crisis. This way, you can make decisions with calculated business risk with confidence. <br /><em>#3 Think Carefully Before Using Assets as Collateral</em> <br /> Many small business owners use their home and personal assets as collateral for business loans. While this can make it more likely that your business loan application to be accepted, it also is much riskier. Using business assets as collateral is much wiser. And if you have no business assets, it may be worth it to pay a slightly higher interest rate to keep your personal assets safe. <br /> Every lender will have different criteria so it may be a matter of pre-screening lenders to find one that has more flexible standards. And you may have to cut expenses and postpone borrowing if you can't secure a loan or can't get one with terms affordable enough to make business sense. <br /> Please read the original post on our affiliate site, <a href="https://www.billsbills.com/blog/can-you-get-business-loan-or-start-business-after-bankruptcy">BillsBills.com</a><br />whoaa</div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Mon, 27 Jul 2015 15:37:37 +0000 master 242 at https://creditscorekeys.com https://creditscorekeys.com/7-benefits-of-filing-chapter-7-bankruptcy <span>7 Benefits of Filing Chapter 7 Bankruptcy</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Sun, 07/26/2015 - 11:35</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter"><img style="width: 550px; height: 365px;" title="Seven" src="https://www.billsbills.com/sites/www.billsbills.com/files/4189466395_7557e85a68_z.jpg" alt="Seven" /></p> If you're drowning in debt, living paycheck to paycheck and constantly dealing with debt collectors, you need help. The simple fact is, you don't have to live this way. Ignoring your debt won't make it go away. And if you owe far more than you can afford to pay, chipping away at it a tiny bit at a time can mean years of financial stress to come. Chapter 7 bankruptcy can provide instant relief to underwater consumers. Here are seven benefits of choosing Chapter 7 to deal with your debt. <br /><!--more--><br /><br /><strong>#1 Instant and meaningful debt relief</strong> <br /> The moment your attorney files your Chapter 7 bankruptcy case, an <a href="https://www.billsbills.com/blog/how-automatic-stay-works-your-north-carolina-bankruptcy">automatic stay goes into effect</a>. As a result, all debt collection activity must cease. If a debt collector calls before they get the notice that you filed, you just tell them you filed, give them your case number and your attorney's name. If they contact you again after the filing, they can be fined for harassing you. That's a welcome change. <br /><br /><strong>#2 Most unsecured debts will be wiped out for good</strong> <br /> Medical bills, credit card bills, past due balances on utility bills and old collections accounts should all be discharged in a Chapter 7 bankruptcy, and you won't have to pay back a penny on them. This can free up much of your disposable income and make it easier for you to keep up with your rent or mortgage payments, save for retirement and have breathing room in your budget. That's instant peace of mind. <br /><br /><strong>#3 You should not lose any of your assets</strong> <br /><a href="http://www.ncga.state.nc.us/EnactedLegislation/Statutes/HTML/BySection/Chapter_1C/GS_1C-1601.html">North Carolina offers very reasonable exemptions</a> for personal property. Your retirement accounts can't be touched during your bankruptcy. A reasonable amount of equity in your home and auto are also protected and – if you file with your spouse – the exemptions are doubled. No one will come and take your furniture, computer or personal items. Unless you have a house full of treasures, you'll be fine. <br /><br /><strong>#4 Secured debt may not be affected</strong> <br /> If you are current on your mortgage or car loan, filing Chapter 7 should not impact these arrangements. If you're behind on your mortgage and can't afford the home any longer, Chapter 7 can help you surrender the home. The mortgage debt will be wiped out, and you can get a fresh start with a rental you can afford and start saving for a better mortgage in the future. The same goes for your car loan. <br /><br /><strong>#5 The process is fast and convenient</strong> <br /> It doesn't take a lot of time to complete a Chapter 7. You go in for an initial consultation with your attorney to prepare your petition that is usually filed electronically. You then attend one or two short hearings and, within three to four months, you get notice of discharge and the entire process is done and over with, and you have permanent debt relief. It's the easiest and fastest debt relief program. <br /><br /><strong>#6 You can rebuild credit quickly</strong> <br /> Once you have your Chapter 7 discharge, you can start rebuilding your credit immediately. Your credit score will take a short-term hit from the initial filing but, if you are behind on your bills, your credit is already taking monthly hits. Those dings will stop, and you can get to work reestablishing credit and making the most of the fresh financial start offered by Chapter 7 bankruptcy. <br /><br /><strong>#7 You can qualify for a Chapter 7 even with high income</strong> <br /> Those with lower earnings will qualify more easily for Chapter 7 because they won't have to <a href="http://www.legalconsumer.com/bankruptcy/means-test/">pass the Means Test</a>. But even those that have high earnings can qualify for Chapter 7 debt relief. The key is that your debts must greatly outweigh your ability to pay them back on your current income. If you have both high income and high debts, you may easily qualify for a Chapter 7 bankruptcy. <br /> Please read the original post on our affiliate site, <a href="https://www.billsbills.com/blog/7-benefits-filing-chapter-7-bankruptcy">BillsBills.com</a></div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Sun, 26 Jul 2015 15:35:05 +0000 master 241 at https://creditscorekeys.com https://creditscorekeys.com/federal-employee-identity-theft-government-data-breach-puts-you-at-risk <span>Federal Employee Identity Theft – Government Data Breach Puts You at Risk</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Sun, 07/26/2015 - 11:35</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter"><img style="width: 550px; height: 365px;" title="Danger sign" src="https://www.billsbills.com/sites/www.billsbills.com/files/danger%20sign.jpg" alt="Danger sign" /></p> Last week, the Federal government was hit by a sweeping cyberattack that put personal information of more than four million current and former Federal employees at risk. If your data was affected, you will be sent an email from opmcio@csid.com between now and June 19, 2015. If the government does not have your email address, they will send a physical letter. If the email you used related to your government employment is not your current email, you should monitor your former email account (if possible) until this window has passed. Here's what you need to know to protect yourself in today's <a href="https://www.billsbills.com/blog/scam-alert-beware-fraud-calls-demanding-cash-red-light-camera-tickets">consumer alert</a>. <br /><!--more--><br /><br /><strong>Lock Down Your Credit Now</strong> <br /> If you now work or did work for the government, you should take specific steps to protect your credit and prevent identity theft scams that could damage your credit. You may want to freeze your credit report. In North Carolina, you have a right to <a href="http://www.ncga.state.nc.us/EnactedLegislation/Statutes/HTML/BySection/Chapter_75/GS_75-63.html">place a security freeze</a> on your credit for free. You may first need to file a police report before the freeze can be placed. You can leave it on your credit file permanently or lift it later when you feel the risk has passed. Placing the freeze proactively, particularly if you are notified that your personal information was stolen can prevent false credit being taken out in your name. With a credit freeze in place: <ul><li>Any creditor who asks to see your credit will receive a notice that your file is frozen. They will not be able to see your credit score to approve any new credit.</li> <li>Your existing creditors will be able to continue to access your file. For instance, your mortgage company will be able to continue to report your payments.</li> <li>If you want new credit, you can temporarily left the freeze to allow a new creditor to access your file if you want to open a new credit account.</li> <li>You can shut down the freeze at any time or temporarily lift it upon request. Freezing your account up front can prevent you from being a victim of identity theft.</li> </ul><br /><strong>Set Up a Fraud Alert</strong> <br /> As an option to freezing your credit, you can set up a <a href="http://www.consumer.ftc.gov/articles/0279-extended-fraud-alerts-and-credit-freezes">fraud alert</a>. To do so, you need to contact just one of the three credit reporting agencies. That agency is required to contact the other two on your behalf. Here's how to set up the fraud alert: <ul><li>Contact the agency and report that you may be the victim of identity theft.</li> <li>Ask them to place an alert on your file and to contact the other credit agencies.</li> <li>The fraud alert will stay on your credit file for 90 days. After 90 days, you can renew it for another 90 days.</li> <li>With a fraud alert on your credit file, any creditor that wants to give you credit must verify your identity thoroughly. An identity thief usually will not be able to prove that they are you.</li> <li>A fraud alert may prevent identity theft activities, but not as well as a credit freeze.</li> </ul> All federal employees affected by the data breach, after the initial notification, the government will provide 18 months of free identity theft insurance and credit monitoring. But also be careful of emails. Scammers may seek to use this breach to perpetrate further fraud by sending you emails alerting you to the “fraud” and providing a link to click. Clicking links in emails like these may install malware on your computer that allows more fraud to occur. <br /> Please read the original post on our affiliate site, <a href="https://www.billsbills.com/blog/federal-employee-identity-theft-government-data-breach-puts-you-risk">BillsBills.com</a></div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Sun, 26 Jul 2015 15:35:05 +0000 master 240 at https://creditscorekeys.com https://creditscorekeys.com/fight-back-against-private-student-loan-debt-collectors <span>Fight Back Against Private Student Loan Debt Collectors</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Sat, 07/25/2015 - 11:35</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter"><img style="width: 550px; height: 365px;" title="Debt and depression" src="https://www.billsbills.com/sites/www.billsbills.com/files/118H.jpg" alt="Debt and depression" /></p> Student loans continue to be a significant burden on most college graduates. And for those who take out private loans, the <a href="http://www.commondreams.org/views/2015/05/26/student-loan-crisis-and-debtfare-state">financial implications can be much more dire</a>. Private student loans usually come with much higher interest rates than federal loans and far fewer protections. While private student loans still represent a relatively small percentage of overall student debt, the collection tactics on private educational debt may be much harsher than on federal loans. But you can fight back. Here's what you need to know. <br /><!--more--><br /><br /><strong>Exhaust federal loans first</strong> <br /> If you've already graduated with private student loan debt, this piece of advice is too late for you. However, if you're still in college, know this: most private student loan borrowers had not exhausted more affordable federal loans before they moved on to private funding. According to data from <a href="http://ticas.org/sites/default/files/pub_files/private_loan_facts_trends.pdf">The Institute for College Access &amp; Success</a> (TICAS), nearly half of all borrowers still had federal loan availability that would have been cheaper to utilize. It's wise to max out federal loans first. <br /><br /><strong>Know the limitations of debt collectors</strong> <br /> Before you respond to a debt collection effort on a private student loan, you should understand your rights. Unlike a federal student loan, private student loans have a statute of limitations just like credit cards and medical bills. In North Carolina, the statute of limitations for debt enforceability is three years. What this means is three years after the most recent activity on that debt, the legal ability to enforce it expires. <br /> For instance, if you take out a private student loan in January 2005, make payments on it beginning January 2009, then stop making payments in January 2012, the statute of limitations would start tolling as of the date of your last payment. However, if you make any payment, even a $1 payment at any time after that, the statute of limitations will reset. So, if your debt is close to hitting the three-year mark, it's wise to NOT make a payment and allow the debt to expire. <br /><br /><strong>Know who can collect on your debt</strong> <br /> In addition to the time limitations on private student debt, there are limitations on who can collect on it. If your original lender contacts you, they do have the right to collect on that debt. However, if you are contacted by a third party, they may or may not have the legal right to collect on the debt. National Collegiate Student Loan Trust is one organization that collects on delinquent private student loan debt. <br /> Trusts like this one purchase large pools of student loans, much like investment tools that purchased large groups of mortgages back in the heyday of the mortgage disaster. These trusts collect on student loans and aggressively pursue borrowers that don't pay up usually through lawsuits. If you are notified that you're being sued over your private student loan by a trust like this, there are some steps you can take. <br /><br /><strong>Always respond to debt lawsuits</strong> <br /> You should definitely respond to the lawsuit and may want to seek attorney advice to help. However, the two primary defenses you can use to fight back are: (1) the statute of limitations has expired and/or (2) the trust does not properly own the loan and thus cannot collect. Student debtors have been very successful in pushing back on this latter point because the trusts cannot prove they have the legal right to collect on the debt. The former is much more straightforward, particularly if you maintained complete records that show precisely when your last payment was made. <br /> The worst thing you can do, in the case of any creditor lawsuit, is to fail to respond. If you don't reply to a lawsuit, the court will automatically side with the creditor and issue a summary judgment that is much harder for you to fight after the fact. Creditor litigation for medical bills and credit card debt is much easier to deal with and can be stopped permanently by a Chapter 7 bankruptcy. <br /> Please read the original post on our affiliate site, <a href="https://www.billsbills.com/blog/fight-back-against-private-student-loan-debt-collectors">BillsBills.com</a></div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Sat, 25 Jul 2015 15:35:04 +0000 master 239 at https://creditscorekeys.com https://creditscorekeys.com/chapter-7-bankruptcy-doesnt-have-to-be-a-last-resort <span>Chapter 7 Bankruptcy Doesn&#039;t Have to Be a Last Resort</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Fri, 07/24/2015 - 10:59</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter"><img style="width: 550px; height: 365px;" title="Time is of the essence" src="https://www.billsbills.com/sites/www.billsbills.com/files/132H_0.jpg" alt="Time is of the essence" /></p> Most people think of bankruptcy as a “last resort” option for those whose finances are so dire that there are no other options. But financial guru Steve Rhode, known as the “<a href="https://www.getoutofdebt.org">Get Out of Debt Guy</a>,” is shaking up this philosophy. He says that not filing Chapter 7 when you get in too deep with debt can be a million dollar mistake. Rhode writes, “the greater question to answer before diving into how to deal with your debt is to determine if you think you have a greater responsibility to repair the past or the future.” Rhode proposes (and we agree) that Chapter 7 should be a first and not a last resort. <br /><!--more--><br /><br /><strong>A Different Way of Thinking</strong> <br /> The idea here is that if you get in too deep with debt, you can try and make significant sacrifices to pay down your debt or get to the point where they're marginally manageable. But Rhode says roughly half of all plans to try and get debt under control will fail. And, he says that even if you “succeed” with a scrimp and save to get debt under control strategy, you may still be considered having “failed.” Sounds crazy, right? Let's dig in and consider this. <br /><a href="http://www.magnifymoney.com/blog/pay-down-my-debt/how-to-win-the-debt-repayment-game">According to Magnify Money</a>, 42.4% of Americans carry credit card debt averaging nearly $11,000 with monthly payments of around $408. This balance will take three to five years to pay off - more if you continue using your credit cards. Rhode challenges consumers to consider what else they could do with that money. If you invested that same $408, at the end of the five years, that's more than $28,000. After another 30 years, that amount will total roughly $412,000 depending on your rate of return. <br /><br /><strong>Consider More Than Your Debt</strong> <br /> Naturally, you want to honor the debt obligations you made. However, if doing so represents such a major sacrifice that you won't be able to save for retirement, you're doing yourself a terrible disservice. Imagine yourself being broke now because of your credit card debt and medical bills. Then imagine yourself being retirement age, broke, with no resources to fall back on, and your earnings capacity limited or non-existent. That puts you in a position of being a burden on your family and society. And all because you decided to muddle on through with your too-heavy debt load. <br /> True, there is a cost to filing Chapter 7 bankruptcy. First, you'll have to pay the legal fees, but these are modest and are the equivalent to just a few months of your credit card payments. Second, you'll have to <a href="https://www.billsbills.com/blog/4-ways-rebuild-your-credit-after-bankruptcy">rebuild your credit score</a> from the hit it takes from filing bankruptcy. But this is doable and, if you're struggling to make payments, are paying bills late and keeping cards maxed out, your credit is already taking a hit. Third, you'll have to let go of the idea that you should prioritize your creditors' well-being over yours. If you can afford to pay your bills without sacrificing your long-term financial well-being, then you should. But if you're on a path to wreck your financial future, Chapter 7 is something to consider sooner, rather than later! <br /><em>To find out more about how a Chapter 7 bankruptcy can protect your financial future, call (800) 899-1414 for a free consultation with a North Carolina bankruptcy expert. <a href="http://www.billsbills.com/contact">Contact the law office of John T Orcutt</a> today for an appointment in Greensboro, Raleigh, Fayetteville, Garner, Wilson or Durham.</em> <br /> Please read the original post on our affiliate site, <a href="https://www.billsbills.com/blog/chapter-7-bankruptcy-doesnt-have-be-last-resort">BillsBills.com</a></div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Fri, 24 Jul 2015 14:59:31 +0000 master 238 at https://creditscorekeys.com https://creditscorekeys.com/how-bankruptcy-can-benefit-your-retirement-advice-for-north-carolina-seniors <span>How Bankruptcy Can Benefit Your Retirement – Advice for North Carolina Seniors</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Thu, 07/23/2015 - 10:59</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter"><img style="width: 550px; height: 365px;" title="Retirement" src="https://www.billsbills.com/sites/www.billsbills.com/files/3702337311_cfa83756d3_o.jpg" alt="Retirement" /></p> Debt can overwhelm you at any age or stage of life. If you lose your job, have unexpected medical costs, go through a divorce or experience any other major life event that drives income down and expenses up, you can find yourself in a tight spot. And the older you are when it happens, the worse off you will be. Why? You're usually not in a position where your income will be increasing. Especially if you're retired, your income may be fixed, so you won't have a way to make up the difference. So what can you do? Smart North Carolina seniors will consider bankruptcy. <br /><!--more--><br /><br /><strong>How bankruptcy protects your retirement assets</strong> <br /> A Chapter 7 bankruptcy will relieve most unsecured debts including credit cards, medical bills and past due taxes that were filed on time and have been outstanding for at least two years. Your <a href="https://www.billsbills.com/blog/how-raleigh-bankruptcy-can-benefit-you-if-you-are-55-or-older-protect-your-retirement" target="_blank">social security income is exempt</a> from the bankruptcy so creditors can't access it (so long as you keep it in an account separate from other non-exempt income). <br /> For instance, if you have a part-time job and have that pay direct deposited into the same bank account as your SSI payments, they won't be protected. Before you file bankruptcy, move your SSI deposits to a separate account. If you receive other pension payments, like from a 401(k), <a href="https://blog.folioinvesting.com/2015/05/21/how-to-determine-whether-a-traditional-or-roth-ira-works-for-you/" target="_blank">Roth IRA</a> or employer pension plan, make sure those are also sent to a different account than your earned income. <br /> Essentially, your creditors will only be able to access your earned income and, if it's below a certain threshold, that will also be off limits. Your home's equity will be protected to a great extent as well. If you are married and file bankruptcy together, <a href="http://www.legalconsumer.com/bankruptcy/bankruptcy-law.php?ST=NC" target="_blank">in NC you can shield $70,000 of equity</a>. If you are over 65 and your spouse is deceased, you can protect $60,000 of home equity. <br /><br /><strong>How bankruptcy allows you to catch your breath</strong> <br /> Bankruptcy gives you a financial reset. If you or your spouse had an accident or serious illness that left you with tens of thousands of dollars of medical bills you can't afford, you might not know what to do. On a fixed income, a spike in debt can feel like a financial death sentence but it doesn't have to be. Bankruptcy can help. <br /> You can also consider a <a href="http://www.nolo.com/legal-encyclopedia/chapter-13-bankruptcy-faq-32408-5.html" target="_blank">Chapter 13 bankruptcy</a> that allows you up to five years to catch up on past-due balances, then discharges remaining unsecured balances. But a Chapter 13 is really better for a current wage earner than a retiree. However, if you have more equity in your home than you can protect, you may want to discuss with your lawyer whether a Chapter 13 is preferable. <br /> Chapter 13 is usually for those who need to catch up on payments on secured debt. For instance, if you still have a mortgage and fell behind on your payments, it can be advantageous, particularly if you would lose significant equity if the home went into foreclosure. However, a short sale may work out better for you financially. An expert attorney can advise you. <br /><br /><strong>Getting past the stigma of bankruptcy</strong> <br /> Many seniors reject the idea of bankruptcy because they see it as a sign of failure, or they worry that people will know and think worse of them. First, while bankruptcy is a matter of public record, most people won't know unless you tell them because the bankruptcy rolls aren't published by the court. Some newspapers may publish local business bankruptcies, but typically don't mention personal ones. <br /> Second, bankruptcy is not a sign of failure – it's a sign that you're making the best choice for your financial future. Wallowing in unmanageable debt doesn't do you, your family, or the economy any favors. Plus, you've worked hard all your life, and you deserve peace of mind in your golden years. Don't let excessive debt consume your retirement. <br /> And one final thing to consider is, if you deplete your retirement funds to deal with this pile of debt, you may find yourself in a hard way in a few years if you run short on money and can no longer work. Take a conservative approach now, don't drain your retirement fund to pay medical bills (or whatever debt you're in over your head with) and look to bankruptcy instead. <br /> Please read the original post on our affiliate site, <a href="https://www.billsbills.com/blog/how-bankruptcy-can-benefit-your-retirement-advice-north-carolina-seniors">BillsBills.com</a></div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Thu, 23 Jul 2015 14:59:31 +0000 master 237 at https://creditscorekeys.com https://creditscorekeys.com/consumer-alert-beware-student-loan-scams-preying-on-recent-graduates <span>Consumer Alert: Beware Student Loan Scams Preying on Recent Graduates</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Wed, 07/22/2015 - 10:59</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter"><img title="Scam alert" src="https://www.billsbills.com/sites/www.billsbills.com/files/145H.jpg" alt="Scam alert" /></p> In North Carolina, 61% of college graduates have student loans. And among those with debt, the <a href="http://ticas.org/posd/map-state-data#overlay=posd/state_data/2014/nc">NC state average </a>is more than $24,000 per student. Graduates from private Mid-Atlantic Christian University are among the state's most indebted with 91% of graduates leaving school with debt that averages more than $38,000. Among public school graduates, East Carolina University alumni are the most indebted owing an average of more than $28,000 with 63% of grads coming out of school with debt. But now, a new scam is preying on these indebted graduates. Here's what you need to know to protect yourself. <br /><!--more--><br /><br /><strong>How the scam starts</strong> <br /> Recent graduates with student loans are contacted by a company that offers to lower their debt or wipe out their loans altogether. This, of course, is a lie. Some scammers say they're loan consolidators that can offer you a lower payment, interest rate, or both. Still others say that they sponsor a loan discharge program. Fraudsters will use a corporation name like “Student Loan Relief” or something similar or may say they are calling from the state or federal government. Contact may come in the form of a call, email, or a letter. <br /><br /><strong>How the scam works</strong> <br /> The promises are outlandish. They say they can drastically reduce what you owe, or your payments, or consolidate debt favorably. These are lies, but set the stage for what comes next. You are asked to complete forms and things that make it seem official, or provide loan account information. The purpose is to keep you stringing along thinking that they are a legitimate source of help with your student loans. Then you'll be asked for an application fee, processing fee, and/or an initial payment. Once you send money, you won't hear from them again – you've been conned. <br /><br /><strong>How to avoid being scammed</strong> <br /> Any time something seems too good to be true, it very likely is. There is no free lunch in this life, and you should be extremely wary of anyone offering you a deal out of the blue. If you are contacted by someone offering to consolidate or eradicate your student loans, don't take them at their word. You should never send anyone money unless you have thoroughly vetted them and are sure they're a legitimate business and what they're offering is not a fabrication. <br /><br /><strong>How to get real student loan help</strong> <br /> With federal student loans, you never need an outside representative or agency to help you do anything with your debt. If you want to try and get lower payments, you can apply for <a href="http://www.smarterbucks.com/blog/paye-vs-ibr/">Income Based</a><a href="http://www.smarterbucks.com/blog/paye-vs-ibr/"> Repayment</a> (IBR) or Pay As You Earn (PAYE) where payments are capped at 10%-15% of your disposable income. For student loan purposes, disposable income is your adjusted gross income from your income taxes. You can apply directly via your loan servicer for these programs. <br /> Loan payments can be as low as $0 a month depending on your income. And, after 20-25 years of affordable payments, remaining balances are wiped out by forgiveness. If you can't afford to pay anything at all, deferment or forbearance can stop student loans completely, but getting onto an affordable payment plan is wiser. Some public service and government jobs also offer a forgiveness benefit – this is worth considering in your post-college job hunt if you have a lot of debt. <br /> With private loans, you can refinance, but you should only do so with an established and credible lender. But, in either case, there is no organization that can wipe out your debt or give you a miraculous end to your school debt. <br /> If you're dealing with overwhelming student loans, <a href="https://www.billsbills.com/blog/if-done-right-bankruptcy-can-discharge-student-loans">bankruptcy may be able to help</a>. Those with permanently low income, disability, permanent illness or other circumstances that limit their ability to earn for the foreseeable future may find relief in the courts. Otherwise, using bankruptcy to clear out your other debts can free up money to deal with your student loans. <br /> Please read the original post on our affiliate site, <a href="https://www.billsbills.com/blog/consumer-alert-beware-student-loan-scams-preying-recent-graduates">BillsBills.com</a></div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Wed, 22 Jul 2015 14:59:30 +0000 master 236 at https://creditscorekeys.com https://creditscorekeys.com/good-news-for-those-in-debt-its-now-easier-to-get-chapter-7-debt-relief <span>Good News for Those in Debt! It&#039;s Now Easier to Get Chapter 7 Debt Relief</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Wed, 07/22/2015 - 10:59</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter"><img style="width: 550px; height: 365px;" title="Seven" src="https://www.billsbills.com/sites/www.billsbills.com/files/4365904125_cf1ce8e617_z.jpg" alt="Seven" /></p> The two most commonly used consumer bankruptcy chapters are <a href="https://www.billsbills.com/blog/use-chapter-13-buy-time-chapter-7-get-complete-debt-relief">Chapter 7 and Chapter 13</a>. With a Chapter 13, you get on a repayment plan that allows you to catch up on your back debts. This is often preferable for those trying to save their home if they've fallen behind on payments. But for those who are current on their house payments or don't own a home, Chapter 7 offers much more sweeping debt relief and wipes out credit cards, medical bills and more. The main obstacle to filing Chapter 7, though, is the income requirement. But for cases filed after May 15, 2015, the restrictions are easier. <br /><!--more--><br /><br /><strong>Median income changes help bankruptcy filers</strong> <br /> Prior to April 1st this year, the <a href="http://www.justice.gov/ust/eo/bapcpa/20150515/bci_data/median_income_table.htm">income requirements</a> to allow you to file Chapter 7 without undergoing a more rigorous check (the Means Test) were as follows: <ul><li>$40,412 household of one</li> <li>$51,857 household of two</li> <li>$56,782 household of three</li> <li>$69,370 household of four</li> <li>and so on...</li> </ul> But new and expanded median income requirements will make it easier for many consumers to file for Chapter 7. The new limits are as follows: <ul><li>$41,068 household of one</li> <li>$52,698 household of two</li> <li>$57,703 household of three</li> <li>$70,495 household of four</li> <li>and so on...</li> </ul><br /><strong>What these increased income limits mean to you</strong> <br /> If your income is at or below the media income threshold, you don't have to go through the hassle of a <a href="http://www.legalconsumer.com/bankruptcy/means-test/">Means Test</a>. The higher income limits make it much easier for consumers to get the more encompassing debt relief offered by a Chapter 7. However, even if your income is above the new threshold, that doesn't mean that you can't file Chapter 7. <br /> In many cases, Chapter 7 can give you a much better result because it offers a clean slate on a large number of your debts. Plus, a Chapter 7 bankruptcy is complete and discharged within a few months rather than up to five years with a Chapter 13. Even if you are currently earning the above-listed wage, if the income bump was recent, you may be okay. The court considers an average of your last six months of income to determine whether you must take the Means Test. <br /><br /><strong>How you can file Chapter 7 with a higher income</strong> <br /> In reality, you can file Chapter 7 with a much higher income than those listed above. And, it may be worth going through the Means Test to see if you can file Chapter 7. In fact, our attorneys successfully and routinely represent consumers who earn more than $100,000 in Chapter 7 bankruptcies. If you earn above the threshold, one of our experienced attorneys will take you through the Means Test process. This examines your income versus expenses. Even if you have a high income, if you have high expenses to offset it, you may be able to file a Chapter 7 bankruptcy. Here are some things to consider: <ul><li>With a large family, you have greater leeway on income, so be sure to count all your family members (spouse, kids, etc.) when considering which income threshold applies to you.</li> <li>If you are a small business owner and at least 50% of your debts are related to your business, you won't have to take the Means Test.</li> <li>Your expenses can make the difference in whether you qualify for Chapter 7 or have to take a Chapter 13. Your mortgage, car notes, and other expenses may be included without any cap. Other expenses will have limits. It's important to know the difference.</li> </ul> Your best shot at getting more complete debt relief offered by a Chapter 7 is to consult a North Carolina bankruptcy expert who can walk you through the Means Test to make sure your income and expenses are accurately calculated. <a href="http://www.billsbills.com/contact">Contact the law offices of John T Orcutt</a> for a free consultation today. We have offices in Greensboro, Raleigh, Fayetteville, Garner, Wilson and Durham. Call (800) 899-1414 and ask about our zero down bankruptcy specials. <br /> Please read the original post on our affiliate site, <a href="https://www.billsbills.com/blog/good-news-those-debt-its-now-easier-get-chapter-7-debt-relief">BillsBills.com</a></div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Wed, 22 Jul 2015 14:59:30 +0000 master 235 at https://creditscorekeys.com https://creditscorekeys.com/is-bad-credit-making-your-job-search-a-struggle-heres-how-to-make-it-better <span>Is Bad Credit Making Your Job Search a Struggle? Here&#039;s How to Make It Better</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Tue, 07/21/2015 - 10:59</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter"><img style="width: 550px; height: 365px;" title="Job hunting" src="https://www.billsbills.com/sites/www.billsbills.com/files/8214124711_a9f6738627_z.jpg" alt="Job hunting" /></p> You know that you need a decent credit record to get a favorable interest rate on a car loan or mortgage or even to be approved, but did you know it can also affect your career? For those that are job searching now or plan to make a career move in the future, your <a href="https://www.billsbills.com/blog/how-credit-scores-are-calculated-and-3-ways-improve-yours">credit score</a> may be the factor that decides whether you get your dream job or get denial after denial by credit-conscious employers. Here's what you need to know. <br /><!--more--><br /><br /><strong>Half of employers run credit checks</strong> <br /> Although many employers in recent years chose to run credit checks as part of the pre-employment screening process, this practice is now (thankfully) on the decline. Many states have passed laws prohibiting or limiting employers rights to run credit checks as a condition of employment. However, <a href="http://www.blr.com/HR-Employment/Staffing-Training-/Background-Checks-in-North-Carolina#">North Carolina is not a state</a> that curbs this practice. Many private employers in NC still run credit checks even when the job you're applying for has no direct ties to financial practices. <br /><br /><strong>Why employers consider credit when hiring</strong> <br /> If you have responsibility for handling cash or making financial decisions, an employer may feel you can't make good decisions for them if you didn't make you decisions for yourself. In fact, there is no proven link between a poor credit record and your on-the-job discretion. An employer may also believe that if you don't pay your bills on time, you won't show up to work on time or carry out your duties promptly. But job performance has no proven link to your personal bill paying skills. <br /><br /><strong>Credit reports often push borderline candidates out</strong> <br /> If you are on the bubble for a hiring decision and it could go either way, a negative credit report could push you over into a “no” for the job. Credit reports may also be used to break a tie – if you're up against another candidate and you're both equally qualified and experienced, a credit report can be used to make the decision. Employers will almost always pick the candidate with the better credit report. Fair or not, most employers believe it's a selling point. <br /><br /><strong>You may not know about a credit check up-front</strong> <br /> If you know you have poor credit and have already lost out on a job because of it, you may want to avoid applying for jobs that check credit. The problem is, you may not always know that a credit check is required. Some employers will list off the screenings you must go through in the job ad, but others may not mention the background checks they'll run until you receive a job offer. You can be 98% of the way towards landing a job only to be hit with this requirement and have your hopes dashed. <br /><br /><strong>How to conquer a pre-employment credit check</strong> <br /> If your credit is less than great and is causing you problems in your job search, there are some things you can do. Consider these approaches: <ul><li>Request a statement be added to your credit reports from all three agencies. Write up a short statement explaining why you had late payments and are back on track now. You can add a <a href="http://www.creditcards.com/credit-card-news/help/add-written-statement-to-credit-report-6000.php">100-word statement to your credit report</a>, and it may be a good idea until your credit improves.</li> <li>Scrape up some cash to clear up any old judgments that might be lingering and making your report look bad.</li> <li>Ensure there are no old items on your report that should have already dropped off. Also, check for inaccuracies. Appeal to the credit agencies to clean up errors on your reports to improve your employment prospects.</li> <li>Consider filing bankruptcy if your credit is a mess and you owe too much to get caught up. A bankruptcy usually looks better than a pile of unpaid debts. That way the employer knows you have a clean slate and won't be sweating financial issues while you work for them.</li> </ul> Please read the original post on our affiliate site, <a href="https://www.billsbills.com/blog/bad-credit-making-your-job-search-struggle-heres-how-make-it-better">BillsBills.com</a></div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Tue, 21 Jul 2015 14:59:29 +0000 master 234 at https://creditscorekeys.com https://creditscorekeys.com/how-to-get-your-budget-under-control-using-bankruptcy <span>How to Get Your Budget Under Control Using Bankruptcy</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Mon, 07/20/2015 - 10:59</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter"><img style="width: 550px; height: 365px;" title="Budget" src="https://www.billsbills.com/sites/www.billsbills.com/files/4345641826_1cd877205b_z.jpg" alt="Budget" /></p> For those that are living under crushing debt, life is not fun – and it should be. If your phone is ringing all day with <a href="https://www.billsbills.com/blog/7-secrets-debt-collectors-dont-want-you-know-and-wont-tell-you">collections calls</a>, your credit cards are constantly maxed out, and you consume every penny of your paycheck to pay your bills, you are living a high-stress life and it doesn't have to be this way. Filing Chapter 13 bankruptcy can give you time to get caught up on all your bills. And with a Chapter 7, you can wipe out all your credit card and medical debt as well as most other unsecured debt. <br /><!--more--><br /> Once you use the bankruptcy to get your debts under control (or eradicated), that's the time to step in and set up a workable budget to keep the positive momentum going. Here are five steps to make sure your post-bankruptcy budget works and is something you can stick to: <br /><br /><strong>#1 Set up the budget together</strong> <br /> One thing that can lead to more money problems is not communicating clearly and leaving interested parties out of the process. At a minimum, both you and your partner (essentially all adults in the household) need to be involved. But including the kids is smart too. For a budget plan to succeed, you need buy-in from everyone who is part of the budget. Also, if you're up front with your kids about the realities of your budget, you'll be surprised at how helpful they will be tracking expenses and reminding you to stick to the plan. <br /><br /><strong>#2 Establish a precise plan</strong> <br /> For a budget to work, it needs to be as precise as possible where it matters. Your mortgage/rent, car payment, cable, and insurance are a set amount. Your utilities should be easily estimable based on prior months' bills and then, for other expenses, you need to cap them at a max and stick to them. For instance, if you know you need to spend $100 a month on groceries, set $400 as the max. Any that you save can be diverted to savings or a fun family outing. This gives you an incentive to be thrifty. But anywhere in your budget that you can use an exact number, you should. <br /><br /><strong>#3 Budget in some fun</strong> <br /> It can be difficult to stick to a very strict budget that doesn't allow for any fun. You need to give yourself and your kids an incentive to stick to the plan. Building in a little treat each week or month then a bigger treat like a family vacation makes sense. You can splurge $4 to rent a movie online or $4 to rent a couple of flicks at Redbox then throw in some popcorn for family movie night. Once a month, <a href="http://www.parenting.com/article/family-activities-cheap-fast-fun">an affordable outing</a> can cost less than $50 if you use Groupon or the cheap day at the movies. Then be sure to save a bit each week (plus any budget savings) towards a larger family goal like a beach trip. <br /><br /><strong>#4 Evaluate and reset each month</strong> <br /> You won't have perfect success every month with your budget. You may have a utility bill that goes awry, have a school expense that cropped up out of the blue or you just plain blew it. That's okay. The main thing is not to let your budget go even if you have a hiccup. Recover as best you can for that month – you may have to save a little less, dig into your savings or skimp on other expenses, but that's fine. Then, at the end of the month, sit down with your family to assess what went wrong and how you can do better - maybe you need a small emergency fund. Then start fresh next month with positive energy. <br /><br /><strong>#5 Post the plan and stick to it</strong> <br /> Your budget is easier to stick to if it's on display as a constant reminder. Post the master budget on your fridge. You can then add a monthly progress list to track your spending. Check off bills you paid, track your grocery spending to see how close you're sticking to your allotted amount and that way everyone can see that you're on track. And if you're not on track, you can all agree where to make adjustments. Kids love stuff on display and you can even attach gold stars for budget items you accomplish perfectly. You may even find your kids are the ones keeping you on budget! <br /> The sure path to making the most of the financial fresh start that bankruptcy offers is to set up a budget immediately. The bankruptcy debtor education courses can help teach you how to make a budget if you don't know how. And consider <a href="https://www.mint.com/how-mint-works/budgets">using a site like Mint.com</a> to help establish your budget. It's completely free and offers tons of educational and tracking tools to help you be smart with your money. <br /> Please read the original post on our affiliate site, <a href="https://www.billsbills.com/blog/how-get-your-budget-under-control-using-bankruptcy">BillsBills.com</a></div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Mon, 20 Jul 2015 14:59:29 +0000 master 233 at https://creditscorekeys.com https://creditscorekeys.com/north-carolina-unemployment-rate-ticks-up-but-its-a-good-thing-really <span>North Carolina Unemployment Rate Ticks Up, But It&#039;s a Good Thing – Really!</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Sun, 07/19/2015 - 10:59</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter"><img style="height: 365px; width: 550px;" title="North Carolina jobs" src="https://www.billsbills.com/sites/www.billsbills.com/files/13903388778_5b429faf5c_z.jpg" alt="North Carolina jobs" /></p> In April, the most recently reported month, North Carolina's unemployment rate moved upwards which is unusual since it was trending downward for quite some time. In fact, NC's April rate is higher than the national average, <a href="http://www.bizjournals.com/triangle/news/2015/05/27/north-carolina-unemployment-rate-april-2015.html">weighing in at 5.5% unemployment</a> over the whole US average of 5.4%. According to the North Carolina Department of Commerce, the state had roughly 4.48 million workers on the job in April, which was up from the March numbers. So why does the unemployment rate look higher and how is this a good thing? We'll tell you. <br /><!--more--><br /><br /><strong>Higher unemployment, better economy</strong> <br /> The number of North Carolina consumers with jobs increased by almost 26,000 between March and April, so how does that track with increased unemployment? Simple. The increasingly positive job market has lured people into the job market. This means workers who had given up on finding a job are now back in the employment search but haven't yet landed a job. In essence, the pool of workers seeking jobs has increased by those who weren't on the job roles a month prior. <br /> More people in the job market is a promising sign that our state's economy is doing very well - employers are hiring and more people can pursue financial stability. If you've been sitting out because the job market has been lackluster, now is the time to make your move and get back into the game – jobs are growing all over the state! <br /><br /><strong>How to take advantage of the booming NC job market</strong> <br /> If you've been out of work for a prolonged period, this can be a great time to land a job. However, if you've been struggling financially and haven't been able to pay your bills on time, <a href="https://www.creditkarma.com/article/job-search-credit-report">your credit score</a> may have taken a hit. Depending on your industry and job role, you may have to pass a credit check to get a job or obtain a security clearance. <br /> The clearances to work with government agencies and government contractors also require a clean credit report. Unpaid bills and a low credit score can cost you job opportunities. Filing bankruptcy can help you get your credit score on the rebound quickly. And it will also clear out back balances so when you do land a new job, you're not living paycheck to paycheck trying to play catch-up. <br /><br /><strong>How bankruptcy helps you get a job</strong> <br /> Although many jobs should not have a credit check as a prerequisite, many employers still like to use them as a tool to weed out candidates. For those that work in finance or even in retail and will be handling cash, it's a standard. Whether it's fair or not, employers often think that if you have a low credit score, you are more likely to mishandle cash or make poor decisions. <br /> While it's not fair, it's a market reality. Another factor to consider is that if you can get a job without your credit score being an issue, that's fine. But a few months down the road when your employer reports state withholding taxes, your employment will show up on your credit report or other public record and creditors that have been lurking in the background will pounce. <br /> You may find that you're suddenly getting <a href="https://www.billsbills.com/blog/debt-dilemma-more-north-carolina-consumers-ever-collections">embarrassing collections calls</a> at your new job that can make life very stressful. On one hand, you've got a new job, and that's great. But, on the flip side, you may be so behind on your bills that it feels like you can't get ahead. One way to make the most of your new job opportunity is to start with a clean slate on your credit card and medical bills. <br /> Please read the original post on our affiliate site, <a href="https://www.billsbills.com/blog/north-carolina-unemployment-rate-ticks-its-good-thing-really">BillsBills.com</a></div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Sun, 19 Jul 2015 14:59:28 +0000 master 232 at https://creditscorekeys.com https://creditscorekeys.com/consumer-alert-greensboro-north-carolina-students-hit-by-college-scam <span>Consumer Alert: Greensboro North Carolina Students Hit By College Scam</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Sun, 07/19/2015 - 10:59</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter"><img style="width: 550px; height: 365px;" title="Scams hurt" src="https://www.billsbills.com/sites/www.billsbills.com/files/8596461981_4c4243636f_z.jpg" alt="Scams hurt" /></p> A new scam is spreading across Greensboro, North Carolina and sees students getting calls claiming to be from the Greensboro police department. The students hear that they're behind on their taxes, owe a fine to the police or college loan fees and will be arrested if they don't pay up ASAP. This can be very scary for the Greensboro, NC students that get these calls because many aren't savvy enough to know <a href="https://www.billsbills.com/blog/fraud-alert-dont-fall-bureau-defaulters-scam">they're being scammed</a> and will be terrified of the prospect of arrest and so will hand over the requested cash. <br /><!--more--><br /> As with many fear-based scams, the perpetrators demand a form of instant payment like a <a href="https://www.moneypak.com/protectyourmoney.aspx">Money Pak card</a>, iTunes gift card, or Western Union. And once you pay the money, it's gone for good and, of course, there was no real case against you. That's not how police departments operate, plus the police don't collect on student loan fees or taxes. This is just another ridiculous scam focused on the very old and the very young, demographics that often don't know they should fight back rather than pay up. <br /> Dawn Grosvenor of the Greensboro police department says, “They are using a police phone number. When people look it up and Google it does show you it’s a Greensboro police number. We’ve actually had three or four victims, but we’ve had numerous phone calls where people actually call back to our police department asking is this legit?” The short answer is that it's not. If you ever get a call like this, it's always best to confirm with the agency to give yourself peace of mind. <br /> But you should also know that no government agency of any type will demand an on the spot payment using an instant payment form like a cash card. They don't work that way. Plus, government agencies don't make calls demanding things. Instead, they take the old-fashioned approach of sending out hard copy letters via snail mail. And they don't send just one. Most agencies will send letter after letter before they take a more drastic collection action. <br /> Even then, government agencies and federal student loan collectors will go for a garnishment and not call up hassling you over a money card. The chances are 99.99% that anyone who demands a Green Dot, instant VISA, gift card or another instant cash with no recourse option is scamming you. And, if the police did have a warrant out for your arrest (no matter the reason), they will show up on your doorstep with a paper notice in hand – they don't make calls and don't ask for cash cards. <br /> What should be another red flag that you're being scammed is that the callers typically have foreign accents. It's fairly easy to spoof a number to appear on your caller ID to make it look like the scammer is calling from the police, government or a particular business. One local Greensboro student paid almost $3,000 because she was afraid she would lose her student loan based on threats from a fraudster. And, because the perpetrators are outside of the US, there's no recourse – your cash is just gone! <br /> If you ever get a call demanding money on the spot, don't fall for it. Most callers will try and force you to stay on the line to keep pushing you until you send the cash. Just hang up on them. If they call back, tell them you've called the police to report them. No matter what, don't pay up and don't fall for the scam. If you're not sure if you're being scammed, contact the <a href="http://www.ncdoj.gov/">North Carolina Department of Justice</a> to ask for assistance and reassurance. <br /> Please read the original post on our affiliate site,<a href="https://www.billsbills.com/blog/consumer-alert-greensboro-north-carolina-students-hit-college-scam"> BillsBills.com</a></div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Sun, 19 Jul 2015 14:59:28 +0000 master 231 at https://creditscorekeys.com https://creditscorekeys.com/you-may-be-owed-money-from-sprint-and-verizon-for-illegal-billing-practices <span>You May Be Owed Money from Sprint and Verizon for Illegal Billing Practices</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Sat, 07/18/2015 - 10:59</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter"><img style="width: 550px; height: 365px;" title="Sprint cell service" src="https://www.billsbills.com/sites/www.billsbills.com/files/14762427101_66ef604b1a_z.jpg" alt="Sprint cell service" /></p> <!--more--> <br /> The Consumer Financial Protection Bureau takes its mission to protect consumers very seriously. In the four years since its establishment, <a href="https://www.billsbills.com/blog/north-carolina-homeowners-get-26-million-damages-ocwen">CFPB has fought diligently</a> against companies who take advantage of consumers to stop their shady practices and return money to those who were deceived. Most recently, CFPB took on mega-wireless companies Sprint and Verizon for overcharging customers by more than one hundred million dollars. You may be due money back! Here's what you need to know. <br /><br /><strong>What Sprint and Verizon were accused of doing</strong> <br /> The practice that CFPB took Sprint and Verizon to task for is known as “mobile cramming.” It allows third party to attach charges to your cell phone bill, often without the account holder's permission. Even when customers complained that the add-ons to their bills were bogus, Sprint and Verizon did not correct statements or refund money, according to CFPB. <br /> Why? It's because Sprint and Verizon made money off of every unauthorized transaction. Thus, the companies had a vested interest in allowing the billing shenanigans to continue. CFPB's director Richard Cordray said, “Sprint and Verizon had flawed billing systems that allowed merchants to add unauthorized charges to wireless customer bills. Consumers bore the brunt of those charges and ended up paying millions of dollars while the companies reaped profits.” <br /><br /><strong>How third-party billing works</strong> <br /> You can use your cell phone or smartphone to purchase a wide array of digital products including music, books and apps that are delivered directly to your phone. Third party vendors were allowed to access the billing system for Sprint and Verizon and only needed the cell phone number to “cram” charges through onto bills. Charges were as little as 99 cents and up to $14.99 on a one-time or recurring basis. Sprint and Verizon kept 30% to 40% of the fee charged. <br /><br /><strong>How the fraud worked</strong> <br /> In some cases, customers were overcharged or double charged for digital items they legitimately purchased. But for many charges to customers' bills, it was an outright scam. Many consumers fell prey to the fraud when they clicked on an online ad that then requested their cell phone number as part of the response or to receive “free” digital content. Third parties only needed the phone number to push bogus charges onto customer cell phone bills. <br /><em>Verizon and Sprint were accused of the following unscrupulous actions:</em> <ul><li>Allowing third party firms to illegally charge their customers</li> <li>Billing customers for third party charges without their consent or opt-in</li> <li>Ignoring consumer complaints about unauthorized third party charges</li> <li>Disregarding red flags about illegitimate third party activities</li> </ul><br /><strong>What the settlement means to you</strong> <br /> Cordray said of the negotiated settlement: “[CFPB] actions will put $120 million back into the pockets of harmed consumers and require these companies to improve their billing practices going forward.” Verizon will pay up $70 million and Sprint another $50 million. The CFPB will oversee repayment of money back to consumers. If you were a Verizon or Sprint customer any time between 2004 and 2013, you may be owed money. For more information on the Verizon settlement, <a href="http://www.cfpbsettlementverizon.com/">click here</a>. For information on the Sprint settlement, <a href="http://www.sprintrefundpsms.com/">click here</a>. <br /><br /><strong>How to protect yourself from shady cell phone billing</strong> <br /> If you have a pay as you go plan, third parties cannot usually attach additional charges to your bill. And, in many cases, monthly pay plans are now more affordable than standard contract rates from many carriers. If you do have a contract cell plan, check your bill every month before you pay it and look at any additional charges outside of your contract subscription rate. Immediately contact your carrier if you notice any charges that you do not agree with and file a dispute. <br /> Please read the original post on our affiliate site, <a href="https://www.billsbills.com/blog/you-may-be-owed-money-sprint-and-verizon-illegal-billing-practices">BillsBills.com</a></div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Sat, 18 Jul 2015 14:59:27 +0000 master 230 at https://creditscorekeys.com https://creditscorekeys.com/what-to-do-if-youre-sued-by-a-creditor-over-debt <span>What to Do if You&#039;re Sued by a Creditor Over Debt</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Sat, 07/18/2015 - 10:59</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter"><img style="width: 550px; height: 365px;" title="Sued by a creditor" src="https://www.billsbills.com/sites/www.billsbills.com/files/courtroom-144091_1280.jpg" alt="Sued by a creditor" /></p> <!--more--> <br /> If you get a notice in the mail that you're being sued by a creditor, it's not something to take lightly. In some cases, a <a href="https://www.billsbills.com/blog/what-do-if-debt-collector-calling-your-relatives-about-your-bills">debt collector</a> may threaten a lawsuit then never follow through. Just because a creditor or debt collector says they will sue you doesn't mean they will. If they are still in the “making threats” phase, you still have time to work things out and figure out how to pay the debt or get rid of it. <br /><br /><strong>After you get notice of a lawsuit</strong> <br /> But once you get notice that a lawsuit has been filed, it's time to sit up and take notice. The first thing to do is to not ignore it. Sticking your head in the sand will not make the lawsuit go away. Instead, you need to respond to it right away. You can do this on your behalf or with the help of an attorney. Likely if you can't afford to pay a debt, though, you also can't afford an attorney to fight it for you. <br /> It's relatively straight forward to respond to a lawsuit filed by a creditor. Usually you have about 20 days from the date you were delivered the notice – not the date that it was drafted or mailed. Pay close attention to the date. When you answer, you should not admit that what the creditor says is true. That's just begging for the court to issue a summary judgment for them. Even if you can't pay, still respond. <br /><br /><strong>What to say in a lawsuit response</strong> <br /> You do not have to write your response in fancy legal language. In fact, it's better if you use plain English so it's clear to the court what you're stating. It can be written neatly by hand, but typing it up and printing it is preferable. Double check the account number they list and check the balance they say you owe. If the balance doesn't agree with your records, say that. <br /> If the account number is wrong, say that you do not have any knowledge of that account number. Anything you can say to weaken or call their claim into doubt is perfect. If they overcharged you on interest or fees, dispute the amount based on inaccurate charges. Use the header of the lawsuit notice as a <a href="http://www.masslegalhelp.org/consumer/forms/answer.pdf">template for your response</a>, be sure to include the following: <ul><li>Name of the court (superior court, small claims, etc.)</li> <li>The state of North Carolina and the county</li> <li>The name of the creditor that filed the suit (list them as plaintiff)</li> <li>The case number (this is critical to include)</li> <li>Your name (list yourself as the defendant)</li> </ul> You should admit to what is true. For instance, “I (your name) admit that I live in --- County in North Carolina” at the given address and “I had a credit agreement with (creditor name).” Then deny what's not true. “I deny that I owe $xxx amount. This does not agree with my records”. Or if they list an incorrect account number, says, “I have no knowledge of this account number with this creditor.” Then sign and date the response. <br /><br /><strong>Why you should respond to a creditor lawsuit</strong> <br /> Responding buys you time, allows you a day in court to propose a payment plan or negotiated lower settlement amount or allows you time to file bankruptcy (if you have many debts you can't pay). A response also puts the ball back into the creditor or debt collector's court and forces them to prove that you owe what they say they do. <br /> In many cases, a debt collector may not be able to prove what you owe and that they have a right to it. If you call their right to collect into doubt and they can't prove it, the case can be dismissed. The lawsuit may also come with a request for a <a href="http://www.washingtonlawhelp.org/resource/declaration-of-defendant-regarding-income-and?ref=Vy0In">Declaration of Income and Assets</a>. This will show the court what you can afford to pay. Fill this out honestly so you don't get in trouble with the court! <br /><br /><strong>How bankruptcy helps</strong> <br /> If you have a pile of debts you can't pay, are living paycheck to paycheck and can't seem to get caught up, it may be time to consider filing bankruptcy. A Chapter 13 can give you more time to pay off your debts, and a Chapter 7 can wipe out most of your unsecured debts like credit cards and medical bills. This can be a fast and permanent way to make creditor lawsuits go away. <br /> Please read the original post on our affiliate site, <a href="https://www.billsbills.com/blog/what-do-if-youre-sued-creditor-over-debt">BillsBills.com</a></div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Sat, 18 Jul 2015 14:59:27 +0000 master 229 at https://creditscorekeys.com https://creditscorekeys.com/looking-for-a-job-raleigh-north-carolina-is-the-place-to-be <span>Looking for a Job? Raleigh, North Carolina is The Place to Be</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Fri, 07/17/2015 - 10:59</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter"><img style="width: 550px; height: 365px;" title="Raleigh North Carolina" src="https://www.billsbills.com/sites/www.billsbills.com/files/7243075622_46823a03f5_z.jpg" alt="Raleigh North Carolina" /></p> <!--more--> <br /> If you're <a href="https://www.billsbills.com/blog/unemployment-increases-greensboro-durham-and-28-other-north-carolina-cities">unemployed and need a job</a> or want a better or just a different job, you're lucky to be in North Carolina right now. And it's even better if you're in Raleigh which was just named the #1 top city for jobs by <a href="http://www.glassdoor.com/blog/best-cities-jobs/">employment site Glassdoor</a>. Raleigh, North Carolina also ranked high for job satisfaction. Here's how Raleigh compared to other major metro areas to take top honors. <br /><br /><strong>How the cities were rated and compared</strong> <br /> The Glassdoor Job Score is calculated using three factors: <ul><li><em>Hiring opportunity</em> – calculated by the ratio of active job openings compared to population</li> <li><em>Cost of living</em> – calculated by the ratio of median annual base salary to median home value</li> <li><em>Job satisfaction</em> – calculated based on 1,000 or more job surveys rated from 5.0 to 1.0</li> </ul> The highest possible score is 5.0 and Raleigh landed the top score at 4.1. The next closest city, Kansas City, Missouri, scored a 3.9. Glassdoor released the Top 25 cities in its report. By comparison, the #25 city on the list was Nashville, Tennessee scored 3.1 on the Glassdoor Job Score scale. <br /><br /><strong>Factors that contributed to Raleigh's top rating</strong> <br /> As of Glassdoor's report date, Raleigh had more than 24,000 job openings and has a median base salary of nearly $51,000 and a median home value of $198k. The job satisfaction rating for Raleigh is 3.3. The cities with the highest job satisfaction ratings were San Jose and San Francisco, California, which both scored 3.5 in this important category. But Raleigh had the best of all three factors which landed them the top spot. <br /><br /><strong>Glassdoor comments on Raleigh's ranking</strong> <br /> In the report, Glassdoor said of winning city Raleigh, NC: <br /> “Raleigh has long held a reputation for tech companies looking to flee the expensive and congested Northeast corridor, with companies like IBM, Cisco and SAS setting up shop in North Carolina. Raleigh is also situated in the famous 'Research Triangle' and has several universities feeding skilled workers to employers. Couple this with Raleigh’s walkable neighborhoods and affordable homes, it’s no surprise that Raleigh stands out as the best city for jobs.” <br /><br /><strong>North Carolina also ranks high for entrepreneurs</strong> <br /> Not everyone is satisfied being an employee – no matter how satisfied – and would prefer to be the boss. The good news is if you want to start a business, North Carolina is still the place to be. A recent Nerd Wallet study titled <a href="http://www.nerdwallet.com/blog/small-business/best-places-to-start-business-2015/">Best Places to Start a Business</a> ranked the top 10 cities for entrepreneurial start-ups and Wilmington, North Carolina landed in second place. The only other Southern city to <span style="background-color: #bfeede;">make</span> the top 10 list is Greater Beaumont, Texas. Check out the infographic below for details on how Wilmington's features benefit business owners. <p class="rtecenter"><img style="width: 550px; height: 1763px;" title="Nerd Wallet Best Places to Start a Business" src="https://www.billsbills.com/sites/www.billsbills.com/files/infographic-nerd.jpg" alt="Nerd Wallet Best Places to Start a Business" /></p> <p class="rtecenter"><span style="font-size: 11px;"><em>Nerd Wallet Infographic</em></span></p> <p class="rtecenter"><span style="font-size: 11px;"><em>Image Source: Nerd Wallet</em></span></p> Nerd Wallet described Wilmington, NC this way: <br /> “A growing population, strong tourism industry and proximity to the beach make this port city ideal for businesses. Wilmington has about 15 businesses for every 100 people - the highest volume of businesses in our top 10. Nearly 900 of those businesses are downtown, including Flytrap Brewing, a craft brewery, and Fuzzy Peach, a frozen yogurt chain started by three friends who met at the University of North Carolina-Wilmington.” <br /> Please read the original post on our affiliate site, <a href="https://www.billsbills.com/blog/looking-job-raleigh-north-carolina-place-be">BillsBills.com</a></div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Fri, 17 Jul 2015 14:59:27 +0000 master 228 at https://creditscorekeys.com https://creditscorekeys.com/consumer-alert-5-scams-to-watch-for-this-summer-in-north-carolina <span>Consumer Alert: 5 Scams to Watch for This Summer in North Carolina</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Thu, 07/16/2015 - 10:59</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter"><img style="width: 550px; height: 365px;" title="Stuck in a scam" src="https://www.billsbills.com/sites/www.billsbills.com/files/128H-1_0.jpg" alt="Stuck in a scam" /></p> <!--more--> <br /> The weather is heating up, and so are many fraud schemes. It seems like when one scam is revealed and wiped out, several more emerge like the mythical hydra – cut off one head, two grow in its place. In today's consumer alert notice, we show you five emerging scams to watch out for this summer in North Carolina! <br /><br /><strong>#1 Nepal Earthquake Charity Scam</strong> <br /> Charity scams are not unique, but whenever there is a major disaster, fraudsters emerge to take advantage of your compassion. Many charity organizations accept both cash donations and gifts-in-kind. Some scammers will run off with the funds. But gifts-in-kind are also subject to scam. These include food, clothing, equipment, medical supplies, automobiles and other goods. In a scam, these items never make it to the intended recipients. Be sure to vet thoroughly any charity before you give money or <a href="https://www.consumer.ftc.gov/blog/sham-charities-inflate-gift-kind-numbers-deceive-donors">gifts-in-kind</a> unless it's a non-commodity like the United Way or the Red Cross. <br /><br /><strong>#2 Grandma Help Me – iTunes</strong> <br /> We wrote about the <a href="https://www.billsbills.com/blog/top-scams-watch-out-2015-–-part-two">grandparent scam</a> before, but now there's a new twist. This scam starts with a “grandchild” calling you for help. The call is not from a relative but a scammer. The fake grandchild says they're in jail, stranded or injured. Extreme versions say the relative was kidnapped. They ask for a Green Dot cash card or similar. But the new version uses Apple iTunes gift cards. One Charlotte senior was taken for more than $20,000. Hang up on calls like these and before you panic, call another relative to confirm your grandchild is okay. Don't send any money or gift card codes! <br /><br /><strong>#3 Senior Sweepstakes Scams</strong> <br /> Over the last three years, this scam has generated 250,000 complaints and is rearing its ugly head again. The fraud starts with a letter with official looking seals and identification numbers. They offer a cash prize, cruise or vacation, jewelry or another exciting freebie. Many of these scams specifically target seniors. To claim the prize, you have to send a $20-$30 fee. To date, <a href="https://www.consumer.ftc.gov/blog/shutting-down-sweepstakes-scam-sought-out-seniors">the FTC estimates</a> that victims have sent more than $25 million to these scammers with nothing to show in return. Never pay for a prize, don't fall for an urgent demand for money and call the FTC with questions. <br /><br /><strong>#4 Phony Weight Loss Scams</strong> <br /> The weight loss industry is a $60 billion industry in the US alone, so it's easy to see why consumers are tempted by scams promising quick loss of pounds. These scams usually begin with an email from a friend recommending a weight loss program and a link. It may also say something like it's been recommended by Oprah or another celebrity. The biggest perpetrator of this scam, <a href="https://www.ftc.gov/news-events/press-releases/2015/05/ftc-halts-deceptive-marketing-bogus-weight-loss-products">according to the FTC</a>, is Sale Slash. The company uses agents that send out email messages from hacked email accounts to promote ineffective and expensive diet pills. Don't click links like these – just delete the emails! <br /><br /><strong>#5 Consumer Complaint Scam</strong> <br /> This last scam tries to scam small business owners. Ironically, this fraud fakes FTC notices to take advantage. As a business owner, you get an email from the “FTC” that claims a complaint has been made against your business. It says your business is in violation of the Consumer Credit Protection Act and that a formal investigation has been launched. It gives you a link to download the “complaint.” The link or any attachments install malware on your computer. Delete any emails like this immediately. If you are the subject of a complaint, you'll be mailed an actual letter. These are scams! <br /> If you've been the victim of a scam, be sure to report it to the <a href="http://www.ncdoj.gov">North Carolina Department of Justice</a> for investigation. <br /> Please read the original post on our affiliate site, <a href="https://www.billsbills.com/blog/consumer-alert-5-scams-watch-summer-north-carolina">BillsBills.com</a></div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Thu, 16 Jul 2015 14:59:26 +0000 master 227 at https://creditscorekeys.com https://creditscorekeys.com/get-your-repossessed-car-or-truck-back-by-filing-chapter-7-bankruptcy <span>Get Your Repossessed Car or Truck Back by Filing Chapter 7 Bankruptcy</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Wed, 07/15/2015 - 10:59</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter"><img style="width: 550px; height: 365px;" title="Repossessed car" src="https://www.billsbills.com/sites/www.billsbills.com/files/3788038274_7e9023bce6_z.jpg" alt="Repossessed car" /></p> <p class="rtecenter"><span style="font-size: 11px;"><em>Bankruptcy can get your repossessed car back</em></span></p> <p class="rtecenter"><span style="font-size: 11px;"><em>Image Source: Flickr User </em></span><em><span style="font-size: 11px;">Emran</span></em><span style="font-size: 11px;"><em> Kassim</em></span></p> <!--more--> <br /> Are you behind on your vehicle loan to the extent that your lender is threatening repossession or has recently taken your car away? You may think that your only option to get your car back is to scrape up a stack of cash. But, in many cases, this is not your only recourse to keep or get your car or truck back. Both <a href="https://www.billsbills.com/blog/switching-chapter-13-chapter-7-can-you-change-your-mind-about-bankruptcy-chapter">Chapter 7 and Chapter 13</a> offer options to distressed consumers that are struggling with their debts and need to rescue their vehicle from repossession. In this two-part series, we'll show you how the most common consumer bankruptcy chapters can help. Today, we'll take a look at Chapter 7 and, tomorrow, Chapter 13. <br /><br /><strong>Use Chapter 7 to Get Your Repossessed Car Back</strong> <br /> If your lender is threatening to take your car but hasn't yet, filing Chapter 7 bankruptcy will temporarily shut down collection efforts – including repossession. That stay will last 90 days (give or take) and, after that, eligible debts will be discharged. But you'll have to work out something with your lender to keep them from knocking on your door on day 91 to take your vehicle. <br /> Even if your lender already took your vehicle, the stay will prevent them from selling it. They must halt all actions until the stay ends – unless they appeal to the court to lift the stay. You have three options to deal with your delinquent car loan in bankruptcy: <br /><br /><strong>#1 Negotiate with your lender</strong> – Depending on the age and mileage of your car, your lender may be willing to modify your loan agreement. They might adjust your interest rate, lower your principal or wipe out some of the late fees to make the loan payments more affordable. They could also tack your delinquent payments onto the end of your loan to bring you current. But they may ask that you <a href="http://freshstartyork.com/bankruptcy-basics/reaffirmation-agreements">reaffirm the debt</a> as part of this process. Once you reaffirm, though, the car loan won't be part of your bankruptcy filing. <br /><br /><strong>#2 Redeem the vehicle</strong> – If you can borrow or have a bit of cash on hand, you may be able to redeem your vehicle. The Bankruptcy Code allows you to pay your lender the fair market value (FMV) of your car to purchase it free and clear of the loan. For instance, if your car loan balance is $6,000, but the <a href="http://www.kbb.com/whats-my-car-worth/">fair market value of the vehicle</a> is just $2,500, you can pay the FMV and keep the car. However, you'll have to be able to pay it in a lump. Likely no lender will allow you to negotiate a redemption price then pay it over time. <br /><br /><strong>#3 Abandon the vehicle</strong> – If your car has a high FMV that you can't afford to redeem, and your lender won't negotiate, you should be prepared to surrender the vehicle at the end of your bankruptcy stay. You can abandon the car, and the associated loan will also be wiped out as part of your bankruptcy. Once your credit starts to rebound, you should be able to get another car loan. If you have enough cash to buy a cheap used car, have access to public transportation, can borrow a car or carpool, that is likely preferable to trying to keep a car you can't afford. <br /> Tomorrow, we'll show you how a Chapter 13 bankruptcy can help you get your repossessed car back. <br /> Please read the original post on our affiliate site,<a href="https://www.billsbills.com/blog/get-your-repossessed-car-or-truck-back-filing-chapter-7-bankruptcy"> BillsBills.com</a></div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/repossession" hreflang="en">repossession</a></div> </div> </div> Wed, 15 Jul 2015 14:59:26 +0000 master 226 at https://creditscorekeys.com https://creditscorekeys.com/bankruptcy-trustees-suing-over-college-tuition-clawing-back-cash <span>Bankruptcy Trustees Suing Over College Tuition, Clawing Back Cash</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Tue, 07/14/2015 - 10:59</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter"><img style="width: 550px; height: 365px;" title="University of North Carolina" src="https://www.billsbills.com/sites/www.billsbills.com/files/9436675997_43b614fb0e_z.jpg" alt="University of North Carolina" /></p> Some bankruptcy trustees are engaging in a move that many judges and bankruptcy filers find questionable – they're demanding that colleges hand over tuition payments! This is called “clawing back.” Essentially, when you file bankruptcy, you're saying you can't afford to pay your bills and need relief from the court. With a Chapter 7, you get total relief from most unsecured debt (credit cards, medical bills, etc.). However, during your case, the Trustee assigned to your case may scrutinize your financial records looking for money to recover to give to your creditors. <br /><!--more--><br /><br /><strong>The pitfalls of preferential payments</strong> <br /> If, for instance, you paid back a personal loan to a relative shortly before filing bankruptcy, that's a “<a href="http://www.alllaw.com/articles/nolo/bankruptcy/clawbacks-preferential-fraudulent-transfers.html">preferential payment.</a>” Your Trustee would likely demand that the money be handed over to be divvied up between all creditors. By paying a close relative before another creditor, you show them preference. This is similar to the new bankruptcy controversy brewing in many states. Except, in this case, the Trustees are looking further back at money parents have spent on their kids. <br /> A Trustee can sue to recover money a bankruptcy filer spent even a couple of years ago if they determine that the filer didn't receive “reasonably equivalent value.” <a href="http://apps.americanbar.org/litigation/committees/bankruptcy/articles/winter2012-measuring-reasonable-value.html">Bankruptcy Code Section 548</a> addresses fraudulent transfers of property by the debtor prior to bankruptcy. For instance, if you gave your car to a friend prior to bankruptcy to avoid it being part of a Chapter 7 case would likely be considered a fraudulent transfer. <br /> However, if you traded the car for a lesser value car plus a computer and a sofa because you needed those things, that would likely not be a fraudulent transfer. The Trustee investigating the claims looks to determine whether the debtor's actions harmed creditors. They also look for actions that may have rendered the debtor insolvent. Because college tuition, in most cases, is so high, it could be argued that a debtor already struggling financially could be pushed into insolvency by paying it. <br /><br /><strong>Why equivalent value matters</strong> <br /> Additionally, some Trustees have argued that because the tuition payments are for the education of the debtor's offspring, the debtor didn't receive any equivalent value. Trustees in some cases have sued (or threatened to sue) colleges to recover tuition. In some cases, schools will negotiate and pay back a smaller amount to avoid the prospect of a lawsuit. But what does a lawsuit like this mean for the students? Results can vary. <br /> In one case, a college allowed the student to graduate after the bankrupt parent agreed to a repayment plan for the tuition they surrendered to the Trustee. Other students could potentially have credits taken away, be told to hand over replacement funds or see their diplomas put on hold until they repay that money. Fortunately, some bankruptcy judges have pushed back against this trend. Pennsylvania Bankruptcy Judge Thomas Agresti ruled against a Trustee's attempt to take back $85k of tuition. <br /> He wrote in his opinion, “Even though there may not strictly speaking be a legal obligation for parents to assist in financing their children’s undergraduate college education - there is something of a societal expectation that parents will assist with such expense if they are able to do so.” But in New York, a bankruptcy judge went the other way and supported the Trustees claw back of tuition. Judge Cecelia Morris said in her ruling, “The Court is not aware of any law requiring a parent to pay for a child’s college education.” <br /><br /><strong>Protect yourself from Trustee backlash</strong> <br /> So how can you avoid a similar outcome in your bankruptcy case? There are some strategies an experienced bankruptcy attorney can employ to protect you and your student. Filing a Chapter 13 rather than a Chapter 7 may help. Also, filing bankruptcy before your child starts college can help. Having your child take out student loans that you can later help them pay off may help instead of scraping up cash that can trigger a Trustee action. There are also several <a href="https://www.billsbills.com/blog/5-actions-avoid-prior-filing-bankruptcy">things to avoid prior to bankruptcy</a>. It's best to speak to a bankruptcy attorney before you take any steps that may cause problems if you're deep in debt and have a child in college or heading there soon. <br /> Please read the original post on our affiliate site,<a href="https://www.billsbills.com/blog/bankruptcy-trustees-suing-over-college-tuition-clawing-back-cash"> BillsBills.com</a></div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Tue, 14 Jul 2015 14:59:25 +0000 master 225 at https://creditscorekeys.com https://creditscorekeys.com/its-tax-time-should-you-go-with-married-filing-separate-heres-what-you-need-to-know <span>It&#039;s Tax Time! Should You Go With Married Filing Separate? Here&#039;s What You Need to Know</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Sun, 05/10/2015 - 09:24</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter" style="color: #595959;"><img title="Tax time" src="https://www.billsbills.com/sites/www.billsbills.com/files/tax-468440_640.jpg" alt="Tax time" /></p> <p class="rtecenter" style="color: #595959;">Married couples have the option to file their annual tax returns on a Married Filing Jointly (MFJ) or Married Filing Separately (MFS) basis. Most couples auto-opt for MFJ without giving it a second thought. Today we'll take a look at why you may want to pause and weigh MFJ versus MFS and when it benefits you to file a return apart from your spouse.</p> <!--more--> <p style="color: #595959;"><br /><strong>If Your Spouse Has Tax or Child Support Troubles</strong></p> <p style="color: #595959;">If your spouse is self-employed or an independent contractor and hasn't paid enough in estimated taxes to cover their bill, you may want to file separately. For those whose spouses already have tax problems and are likely to get in deeper with the IRS, you may want to draw a line in the sand so that you're not also in tax trouble. MFS protects your wages from garnishment by the IRS if the taxman decides to come calling for the <a style="color: #2d6187;" href="http://www.billsbills.com/blog/bankruptcy-and-taxes-3-ways-deal-back-tax-debts" target="_blank">back taxes</a>. Also, if your spouse is delinquent on child support payments, their <a style="color: #2d6187;" href="http://www.acf.hhs.gov/programs/css/resource/federal-tax-refund-offset-program-information-for-families" target="_blank">refund may be seized</a> to cover the delinquency. While it's reasonable that they lose their refund, that doesn't mean yours should as well since it's not your support obligation.</p> <p style="color: #595959;"><br /><strong>If Filing Together Will Raise Your Tax Bracket</strong></p> <p style="color: #595959;">If you and your spouse separately are in a lower income tax bracket, you'll each pay less in taxes individually in some cases. It pays to look at your taxes together and apart. When your adjusted gross incomes together move you into a higher tax bracket, you may want to file separately to save on income taxes. There's nothing illegal about filing separately to lessen your tax bill. Just be aware that if you have children, you both can't take them. If you have more than one child, you may want to each take one deduction or see if it's more advantageous for one of you to claim both.</p> <p style="color: #595959;"><br /><strong>If You Have Miscellaneous Deductions</strong></p> <p style="color: #595959;">If you have <a style="color: #2d6187;" href="http://www.irs.gov/publications/p529/ar02.html" target="_blank">miscellaneous deductions</a> that can't be claimed on a joint return, calculate whether they could be claimed on separate returns. For miscellaneous deductions to be deductible, they have to exceed 2% of your adjusted gross income - this is a much higher threshold with combined incomes. These expenses include union dues, unreimbursed business expenses and job search costs. The important thing is to compare the gained deduction against any deductions you would lose by filing separately. Those that file under MFS cannot take the following deductions:</p> <br /><ul class="rteindent1" style="color: #595959;"><li>Tuition and fees</li> <li>Student loan interest</li> <li>Elderly and disabled credit</li> <li>Child and dependent care</li> <li>Earned income credit</li> <li>Educational credit</li> </ul><p style="color: #595959;"><br /><strong>If You Have Student Loans and Want a Lower Payment</strong></p> <p style="color: #595959;">If you are paying on your student loans and want to take advantage of one of the lower repayments plans like <a style="color: #2d6187;" href="https://studentaid.ed.gov/sites/default/files/income-driven-repayment.pdf" target="_blank">Income Based</a><a style="color: #2d6187;" href="https://studentaid.ed.gov/sites/default/files/income-driven-repayment.pdf" target="_blank"> Repayment</a> (IBR) or Pay As You Earn (PAYE), you'll get a lower payment with MFS. Here's why. If you file MFJ, your payments will max at either 10% or 15% (depending on IBR vs PAYE) of your disposable income. AGI will obviously be higher when you combine your incomes. If you choose MFS, the payment will be based solely on your income. However, you won't be able to use the student loan interest deduction. Thus, you need to see how much more you'll pay in income taxes by losing that deduction versus how much you'll save on lower student loan payments.</p> <p style="color: #595959;">It can be a challenge to sit down with pen and paper and crunch the numbers for yourself on which tax filing option is preferable for your unique circumstances. Consider purchasing tax software so you can finagle your numbers and experiment to find the best option. Or, hire a tax professional to run the numbers and advise you whether MFS or MFJ will best accomplish your goals.</p> <p style="color: #595959;">Please read the original post on our affiliate site, <a href="https://www.billsbills.com/blog/its-tax-time-should-you-go-married-filing-separate-heres-what-you-need-know">BillsBills.com</a></p></div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Sun, 10 May 2015 13:24:15 +0000 master 224 at https://creditscorekeys.com https://creditscorekeys.com/can-you-rent-a-house-or-apartment-after-filing-bankruptcy <span>Can You Rent a House or Apartment After Filing Bankruptcy?</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Sat, 05/09/2015 - 08:53</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter" style="color: #595959;"><img title="Apartment for rent" src="https://www.billsbills.com/sites/www.billsbills.com/files/for%20rent%20-%20freeimages.jpg" alt="Apartment for rent" /></p> <p class="rtecenter" style="color: #595959;">Sometimes allowing a foreclosure to go through without a fight is smart. For instance, if you have<a style="color: #2d6187;" href="http://blog.credit.com/2011/07/underwater-on-your-home-your-six-options-34794/">no equity in your home and are upside down</a> to the extent that you have negative equity, it may be wise. Also, if you're behind on your mortgage payments and even when you catch these up, won't have any equity, it may be best to let it go. That being said, the idea of giving up your home is frightening. You may see losing your house as a sign of failure and worry that you will be left with nowhere to live.</p> <!--more--> <p style="color: #595959;">However, a well-timed bankruptcy can give you time to save up money to move, and you should have no problem renting a house or apartment. Today we'll take a look at strategies for getting your finances ready for a rental and what to be prepared for when you apply to rent a property after you file bankruptcy. Chapter 13 bankruptcy allows you time to catch up on back mortgage payments and can be a good strategy to protect your home from foreclosure if you have equity.</p> <p style="color: #595959;"><br /><strong>When foreclosure is a smarter solution</strong></p> <p style="color: #595959;">But if you have no equity, a Chapter 7 bankruptcy may be a better way to go. Once you file a Chapter 7, any <a style="color: #2d6187;" href="http://www.billsbills.com/blog/how-long-do-i-have-stop-north-carolina-foreclosure-filing-bankruptcy">foreclosure efforts will stop</a> for approximately 90 days. During this time, you will also get immediate relief from other unsecured debts like medical bills and credit cards. All of the money you were spending on rent, homeowner's insurance, and your unsecured bills can be put toward savings so you can move into a new place once the foreclosure takes place.</p> <p style="color: #595959;">And, the lender may not refile the foreclosure for months to come. This is the time you need to squirrel away as much money as you can. You'll need a down payment on a new place to live and cash to cover the cost of your moving expenses and any utility deposits. Take advantage of these rent-free months to save, save, save. Even once the foreclosure auction occurs, it may be one to three months (or even more) before the purchaser takes possession of the property.</p> <p style="color: #595959;"><br /><strong>When it's smart to wait for an eviction notice</strong></p> <p style="color: #595959;">The best scenario is to remain in the home until the purchaser sends a notice to vacate if you have a homeowner's association. You will be responsible for property upkeep and fees until the title transfers to the new owner and staying in the property makes this easier for you to handle. Any HOA fees that were accumulated and unpaid up until your Chapter 7 will be wiped out by your bankruptcy. But <a style="color: #2d6187;" href="http://www.bankrate.com/finance/debt/hoa-dues-after-bankruptcy-filing.aspx">new fees and fines</a> between the bankruptcy and the title transfer will remain on you.</p> <p style="color: #595959;">HOA rules mean you need to keep the lawn maintained, make sure the property doesn't fall into disrepair and pay any monthly fees. If there is no HOA, you can make plans to move as soon as the foreclosure auction takes place. But you may want to make arrangements to keep the lawn mowed until the purchaser takes possession while you're still listed as the title owner to prevent municipal complaints against the rundown state of the property.</p> <p style="color: #595959;"><br /><strong>How to get a rental property after bankruptcy</strong></p> <p style="color: #595959;">When you do go to rent, a landlord may want to run your credit history prior to renting which means they will see your bankruptcy. Be ready to explain why you chose to file bankruptcy – whether you had a bout of unemployment, you had an illness that caused medical expenses or a divorce that caused money problems. Explain that now that you have a fresh start, you're financially able to meet your obligations.</p> <p style="color: #595959;">Another reason to save up money is that you can offer to pay a couple of months of rent in advance to convince the landlord to contract with you. You may have to shop around to find a lessor that will work with your credit circumstances, but you will be able to find someone. You may have to pay a more substantial security deposit. And you likely won't get as much of a grace period if you run late on your rent, but you should be able to find a <a style="color: #2d6187;" href="http://homeguides.sfgate.com/rent-apartment-after-filing-bankruptcy-8360.html">rental property after bankruptcy</a>.</p> <p style="color: #595959;">The worst thing you can do is to stick with a house that you can't afford and keep pouring money into it and falling behind on your other bills. Cutting yourself loose from an upside down mortgage, filing bankruptcy and renting while you rebuild your credit is a smarter strategy. Then, when your credit score bounces back, you can purchase a home again and start to build up equity without being in over your head.</p> <p style="color: #595959;">Please read the original post on our affiliate site, <a href="https://www.billsbills.com/blog/can-you-rent-house-or-apartment-after-filing-bankruptcy">BillsBills.com</a></p></div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Sat, 09 May 2015 12:53:49 +0000 master 223 at https://creditscorekeys.com https://creditscorekeys.com/its-nearly-tax-time-why-you-should-file-your-return-even-if-you-cant-pay <span>It&#039;s Nearly Tax Time – Why You Should File Your Return Even if You Can&#039;t Pay</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Fri, 05/08/2015 - 08:53</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter" style="color: #595959;"><img title="Tax time" src="https://www.billsbills.com/sites/www.billsbills.com/files/office-620822_640.jpg" alt="Tax time" /></p> <p class="rtecenter" style="color: #595959;">There is a month left until the April 15th tax filing deadline, and if you're avoiding preparing your Form 1040, it's time to get busy. Dig out your W2s, 1099s, mortgage interest and student loan interest statements and charitable donation receipts – then sit down and do your taxes. If your taxes are complex (or you're clueless), investing in well-reviewed tax preparation software may be a better route. Or, contact an experienced tax expert like a CPA. The <a style="color: #2d6187;" href="http://www.nmlegis.gov/lcs/handouts/IAC%20092412%20FNDI%20Taxtime%20Mystery%20Shopper.pdf">tax prep providers</a> you see at WalMart and other retail locations are not usually accountants. They are just regular Joes trained to do simple taxes and are likely not experienced or knowledgeable enough to deal with anything but the most basic of returns.</p> <!--more--> <p style="color: #595959;">Maybe you haven't prepped your taxes yet because you're a procrastinator. Or maybe it's something more serious like that you know you can't afford to pay your tax bill. Even if this is the case, you shouldn't neglect to send in your tax return. There are two main reasons why. Tax debts that result from a properly and timely filed tax return have a <a style="color: #2d6187;" href="http://tax.findlaw.com/tax-problems-audits/what-is-the-irs-statute-of-limitations-or-deadline-for-action-on-.html">statute of limitations</a> for collection. The IRS typically has 10 years from the date you file to collect on taxes. If you don't file your return though, this clock doesn't start ticking.</p> <p style="color: #595959;">Second, if you are so deep in debt that you're considering filing bankruptcy, you may be able to have some of your back tax bills discharged as part of the filing. But only properly filed tax returns are eligible for forgiveness. The tax debts must be at least three years old, and the returns must have been filed at least two years prior to filing bankruptcy. If you didn't file your returns on time, even if they are older than three years, they likely won't be eligible for discharge.</p> <p style="color: #595959;">Third, as frightening as the IRS may seem, the agency will work with you to resolve tax debts you owe but can't afford to pay. For any tax bills that aren't eligible for a bankruptcy discharge, you can work out a payment arrangement. The IRS may allow you to make installment payments to satisfy the debt, or they may accept an <a style="color: #2d6187;" href="http://www.irs.gov/Individuals/Offer-in-Compromise-1">Offer in Compromise</a> (OIC). An OIC is essentially a negotiated settlement. You propose an amount that you can afford to pay and the IRS will approve or deny the proposal.</p> <p style="color: #595959;">If you file for a Chapter 7 bankruptcy, also known as a liquidation, <a style="color: #2d6187;" href="http://www.billsbills.com/blog/when-can-you-get-back-income-taxes-written-bankruptcy-and-when-are-they-unavoidable">back taxes</a> that meet the requirements may be discharged. And, by freeing yourself up from your other debts, you may have enough money left over to work out a payment plan or make a settlement offer to the IRS. This can get you a debt-free fresh start. If you file for a Chapter 13 bankruptcy, you can make payments to catch up on your taxes as part of your plan. At the end of the repayment plan, any unpaid tax balances on properly filed returns may be discharged.</p> <p style="color: #595959;">Please read the original post on our affiliate site, <a href="https://www.billsbills.com/blog/its-nearly-tax-time-why-you-should-file-your-return-even-if-you-cant-pay">BillsBills.com</a></p></div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Fri, 08 May 2015 12:53:48 +0000 master 222 at https://creditscorekeys.com https://creditscorekeys.com/senior-money-problems-bankruptcy-before-death-can-protect-assets <span>Senior Money Problems – Bankruptcy Before Death Can Protect Assets</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Thu, 05/07/2015 - 09:21</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter" style="color: #595959;"><img title="Married older couple" src="https://www.billsbills.com/sites/www.billsbills.com/files/fold-63623_640.jpg" alt="Married older couple" /></p> <p class="rtecenter" style="color: #595959;">If you're a senior and you or your spouse are dealing with a terminal illness, this can be costly now and can leave the surviving spouse with insurmountable debts. It can be stressful to think about money while you're also taking care of your spouse's declining health. If you have significant joint debts that you're falling behind on now, it can be even worse after you lose your loved one. You may be counting on life insurance money to help get things straightened out. But your creditors may try to seize the payout to pay the bills, and it won't leave a lot left over for you.</p> <!--more--> <p style="color: #595959;"><br /><strong>Bankruptcy Timing is Critical</strong></p> <p style="color: #595959;">Depending on your unique circumstances, how much joint debt you have and whether you've fallen behind on your mortgage and other bills, it may be better to file bankruptcy just before or just after your spouse passes. With a Chapter 7 bankruptcy, you can have medical bills, credit card debt and other unsecured debts discharged completely. You can choose to file as a couple or for your ill spouse to file as an individual. It may also work out best for your spouse to file before they pass and then you to file afterward. It's <a style="color: #2d6187;" href="http://www.billsbills.com/blog/when-best-time-file-personal-bankruptcy-what-are-benefits-filing-now">all in the timing</a>, and the advice of an attorney is indispensable in this matter.</p> <p style="color: #595959;"><br /><strong>Debt Matters Surrounding a Terminal Illness Are Complex</strong></p> <p style="color: #595959;">North Carolina is not a community property state, so typically your spouse's medical bills should not be your obligation. However, you should be careful not to sign any paperwork saying that you are financially responsible for their debt. On hospital intake forms and doctor's registration forms, there may be a line asking who is <a style="color: #2d6187;" href="https://www.caring.com/questions/responsible-for-parents-medical-bills">responsible for paying</a> for procedures. If you list yourself rather than your ill spouse's name or “self,” that can complicate matters after they pass. Be careful about anything you sign. Never sign to be responsible for anyone else's medical bills.</p> <p style="color: #595959;"><br /><strong>Estate Assets Can Be Seized by Creditors</strong></p> <p style="color: #595959;">When a spouse passes, creditors they owe may try to collect from their estate. This means assets you're relying on to get you through to your retirement may not be there for you. If you don't explore your options to deal with your debts before you lose your spouse, you'll have fewer choices on how to address these debts. The <a style="color: #2d6187;" href="http://www.cbsnews.com/news/the-cost-of-dying-end-of-life-care/">last two months</a> of an ill person's life are the costliest in terms of medical care. And any bills incurred after the date of filing bankruptcy are not covered. This is why timing is crucial.</p> <p style="color: #595959;"><br /><strong>What Happens When a Debtor Dies During a Bankruptcy Case?</strong></p> <p style="color: #595959;">With a Chapter 7, the <a style="color: #2d6187;" href="http://www.alllaw.com/articles/nolo/bankruptcy/what-happens-debtor-dies.html">death of the debtor</a> who filed will usually not affect the case. The Trustee will process the case as though they were still alive and discharge eligible debts. With a Chapter 13 case, though, a dismissal is the likely outcome since the debtor is not alive to carry on with payments. While you shouldn't look to bankruptcy to avoid debts you can afford to pay, if you are struggling and your finances will be worse off once you lose your spouse, it's something to consider.</p> <p style="color: #595959;">Please read the original post on our affiliate site, <a href="https://www.billsbills.com/blog/senior-money-problems-bankruptcy-death-can-protect-assets">BillsBills.com</a></p></div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Thu, 07 May 2015 13:21:57 +0000 master 221 at https://creditscorekeys.com https://creditscorekeys.com/what-happens-if-i-miss-my-bankruptcy-hearing <span>What Happens If I Miss My Bankruptcy Hearing?</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Thu, 05/07/2015 - 08:53</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter" style="color: #595959;"><img title="Are you missing" src="https://www.billsbills.com/sites/www.billsbills.com/files/meadow-63987_640.jpg" alt="Are you missing" /></p> <p class="rtecenter" style="color: #595959;">For those struggling to pay their bills and dealing with the <a style="color: #2d6187;" href="http://www.billsbills.com/blog/debt-dilemma-more-north-carolina-consumers-ever-collections" target="_blank">stress of debt collections</a> and living paycheck to paycheck, bankruptcy can be life-changing. However, you risk obtaining the fresh start you deserve if you don't follow all the rules associated with a bankruptcy filing – including showing up for required hearings in the case. Going to your attorney's office to discuss your bankruptcy or file papers isn't stressful, but for many people the idea of going to the courthouse to face a hearing is scary. Here's a look at what to expect, what excuses are acceptable for missing a court date and what to do if you do miss one.</p> <!--more--> <p style="color: #595959;"><br /><strong>Bankruptcy court is not stressful</strong></p> <p style="color: #595959;">Most people have never been to a federal courthouse, and it looks large and imposing from the outside. Inside, there are strict security procedures to gain admittance. You typically can't bring in your cell phone or computer - only attorneys and court employees can bring in their devices. And most debtors have a negative picture of what happens in the courthouse. You may imagine yourself on a witness stand being grilled about why you couldn't pay your bills.</p> <p style="color: #595959;">You may envision a jury box full of the creditors that you owe judging and condemning you. You may worry about the judge raking you over the coals, and the Trustee (who acts on <a style="color: #2d6187;" href="http://www.nolo.com/legal-encyclopedia/who-bankruptcy-trustee-represent.html" target="_blank">behalf of your creditors</a>) chastising you or making you feel bad about yourself. Most of us have watched far too many TV shows featuring blistering courtroom antics. In fact, most of the proceedings in any court are dry, functional and without any finger pointing or emotional outbursts – particularly in bankruptcy court.</p> <p style="color: #595959;">You will usually have to answer a few <a style="color: #2d6187;" href="http://www.alllaw.com/articles/nolo/bankruptcy/questions-meeting-creditors.html" target="_blank">yes or no questions</a>. These will cover whether your bankruptcy attorney explained your bankruptcy chapter to you, whether you submitted your tax returns, wage statements and that you understand the proceedings. That's it – no Matlock moments. So don't let anxiety keep you away from a bankruptcy hearing. The people most stressed at a bankruptcy court are usually the court employees who are trying to get through a roster of cases.</p> <p style="color: #595959;"><br /><strong>When is it okay to miss a bankruptcy court hearing?</strong></p> <p style="color: #595959;">The worst case scenario that can result from skipping a bankruptcy hearing is that the judge will dismiss your case. This is not what you want to happen. You will have to re-file and pay the court costs again plus some extra money to your lawyer for having to go through the process of re-filing all your papers and setting up new hearings. So it's best not to miss your hearings even if you have to go in with a headache or sniffles.</p> <p style="color: #595959;">The most important hearing in your case is your <a style="color: #2d6187;" href="http://www.alllaw.com/articles/nolo/bankruptcy/what-expect-meeting-creditors-341-hearing.html" target="_blank">341 Meeting of Creditors</a>. If you miss this one, it's 99% likely that the Trustee assigned to your case will request a dismissal. Unless you are in the hospital, there's no reason to miss this all-important hearing. It goes fast – the meeting itself will usually take just 15 minutes or so and often no creditors will show up at all, so it's just a formality. There's no reason to avoid this meeting plus it's an absolute requirement.</p> <p style="color: #595959;">The only reasons to ditch a court date  is if you or your child are in the hospital, you get into a crash and total your car on the way there or some other similarly dire circumstance. Be sure to contact your bankruptcy attorney ASAP to let them know why you can't be there so they can proactively request to reschedule your hearing. The court doesn't like to have its time wasted, so you don't want to not call and leave everyone waiting and wondering.</p> <p style="color: #595959;">Please read the original post on our affiliate site, <a href="https://www.billsbills.com/blog/what-happens-if-i-miss-my-bankruptcy-hearing">BillsBills.com</a></p></div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Thu, 07 May 2015 12:53:47 +0000 master 220 at https://creditscorekeys.com https://creditscorekeys.com/ways-to-deal-with-medical-bills-you-cant-afford-to-pay <span>Ways to Deal with Medical Bills You Can&#039;t Afford to Pay</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Wed, 05/06/2015 - 08:53</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter" style="color: #595959;"><img title="Medical bills" src="https://www.billsbills.com/sites/www.billsbills.com/files/8584111311_a2f46bfcec_z.jpg" alt="Medical bills" /></p> <p class="rtecenter" style="color: #595959;">Even if you have medical insurance whether it's through your employer, an Affordable Care Act plan or Medicare, that doesn't mean you'll never have any problems with <a style="color: #2d6187;" href="http://www.billsbills.com/blog/study-shows-medical-debt-still-major-cause-bankruptcy">medical bills</a>. And if you don't have insurance, even a minor illness can cause an insurmountable debt crisis. When you're dealing with the after-effects of an injury causing accident or significant illness, that's already stressful enough. Add medical bills and aggressive debt collectors to the mix, and you've got a crisis brewing. But there are steps you can take to get these bills under control. Check out these five tips to deal with medical bills you can't afford.</p> <!--more--> <p style="color: #595959;"><br /><strong>#1 Request debt validation</strong></p> <p style="color: #595959;">When you're dealing with an original creditor, ask for a detailed, itemized listing of what you owe. Compare this to your insurance policies to make sure you're not overcharged. If it's a debt collector, ask for the same. If they can't produce documentation of the debt, they won't be able to sue you and may go away. Also, check on the <a style="color: #2d6187;" href="http://credit.about.com/od/statuteoflimitations/g/ncsol.htm">statute of limitations</a> on the debt. If the bill is older than three years (or if it's more than three years since your last payment), they won't be able to sue you which can offer some peace of mind.</p> <p style="color: #595959;"><br /><strong>#2 Threaten to report them (and do so)</strong></p> <p style="color: #595959;">Medical debt collectors can be extremely aggressive. When you get calls from the original creditor (i.e. the hospital or doctor's office), they will usually behave themselves. But once the doctor or medical center hands off the debt to a collection agency, you can expect efforts to ratchet up a notch. Many debt collectors will try strong arm tactics like saying they will have you arrested. If you're being subjected to illegal debt collection measures, you can report the agency to put an end to the harassment. Examples of illegal tactics include:</p> <br /><ul class="rteindent2" style="color: #595959;"><li>Calling before 8 am or after 9 pm.</li> <li>Calling you at work when you've informed the collector you can't get calls there.</li> <li>Continuing to call you after you sent in a written request asking they stop calling you.</li> <li>Using profanity, abusive language or making threats of violence.</li> <li>Threatening to come to your home or have you arrested.</li> <li>Calling your friends or family and telling them you owe money.</li> </ul><p style="color: #595959;">If a debt collector abuses you in any of these ways, keep a log of the instances including names, dates and what was said. You may even record these calls to prove your case. Notify the debt collector you're reporting them and then do so. You can make a report to the <a style="color: #2d6187;" href="http://www.ncdoj.org/">North Carolina Department of Justice</a>, the <a style="color: #2d6187;" href="https://www.ftccomplaintassistant.gov/#crnt">Federal Trade Commission</a> or <a style="color: #2d6187;" href="http://www.consumerfinance.gov/complaint/">Consumer Financial Protection Bureau</a>.</p> <p style="color: #595959;"><br /><strong>#3 Try to negotiate</strong></p> <p style="color: #595959;">The original medical provider may or may not be <a style="color: #2d6187;" href="http://tech.mn/news/2015/02/12/cutmedicalbills-com-teaches-negotiate-debt/">open to negotiation</a>. If you have no insurance, ask if they can offer you a better rate since you're uninsured. They may offer you a discounted rate. Sadly, rates charged to the uninsured are often higher than those charged to insured. Medical providers negotiate maximum fees they can charge to insured patients while they are free to charge the uninsured any rates they want. Once the bill is in the hands of a debt collector, you are much more likely to be able to negotiate a lower payoff since they bought the debt at a discounted rate.</p> <p style="color: #595959;"><br /><strong>#4 Offer installment payments</strong></p> <p style="color: #595959;">You may also want to offer installment payments, particularly when you are dealing with the original medical provider. Let them know how much you can reasonably pay each month (don't overestimate because you don't want to fall behind on payments) and ask them to work with you. You can also offer to make payments after you haggled with them on the amount of the bill. With a debt collector, they may also accept installment payments. However, be careful with this. The statute of limitations on a medical debt in North Carolina expires three years from the date the services occurred or the date of your last payment on that debt, whichever is longer. If the debt is set to expire soon legally, making a payment resets the clock and may not be a wise strategy.</p> <p style="color: #595959;"><br /><strong>#5 Bankruptcy</strong></p> <p style="color: #595959;">Medical bills are a type of debt that can be completely wiped out in a Chapter 7 bankruptcy and may be lessened or eliminated in a Chapter 13 as well. This can be particularly helpful if you had a one-time medical crisis like an accident or illness like cancer that you've now recovered from but still have bills for treatments that you can't pay. If you have ongoing medical issues, bankruptcy can wipe out the back bills but won't address the bills that continue to pile up after you file so may or may not be a fit solution. Consulting with a reputable bankruptcy attorney will help you understand your options and the best approach for your unique circumstances.</p> <p style="color: #595959;">Please read the original post on our affiliate site, <a href="https://www.billsbills.com/blog/ways-deal-medical-bills-you-cant-afford-pay">BillsBills.com</a></p></div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Wed, 06 May 2015 12:53:46 +0000 master 219 at https://creditscorekeys.com https://creditscorekeys.com/fraud-alert-dont-fall-for-the-bureau-of-defaulters-scam <span>Fraud Alert: Don&#039;t Fall for the Bureau of Defaulters Scam</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Wed, 05/06/2015 - 08:53</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter" style="color: #595959;"><img title="Thieves at work" src="https://www.billsbills.com/sites/www.billsbills.com/files/8576064449_fc03e21668_z.jpg" alt="Thieves at work" /></p> <p class="rtecenter" style="color: #595959;">When you're stressed because you're behind on your bills, the last thing you need is a scammer scaring you into thinking you're about to be arrested for your unpaid debt. What can make this kind of fraud difficult to spot is that many bill collectors threaten arrest or jail when trying to get you to pay up. So it can be hard to differentiate between illegal debt collection tactics and this outright fraud. In today's <a style="color: #2d6187;" href="http://www.billsbills.com/blog/fraud-alert-skimming-scams-rise-north-carolina-%E2%80%93-protect-yourself">consumer alert</a>, we'll tell you what to watch for and what to do if someone tries this tactic on you.</p> <!--more--> <p style="color: #595959;"><br /><strong>How the scam works</strong></p> <p style="color: #595959;">Like so many scams, this one starts with a shady email. The notice claims to be from the Bureau of Defaulters Agency – FTC. What's so galling about this scam is it uses the Federal Trade Commission in its header to try and legitimize it. First, the FTC doesn't go after consumers. Second, they certainly don't send emails threatening consumers. The notice says that you've ignored “bureau” efforts to contact you, and now the government has put your social security number on hold. It goes on to say that you're facing fraud prosecution and you have just 24 hours to pay up or you'll face additional fines and penalties when you're found guilty.</p> <p style="color: #595959;"><br /><strong>How the scam harms you</strong></p> <p style="color: #595959;">This fraud can take advantage of you in a couple of different ways. First, it can try and get you to pay anywhere from a few hundred dollars to a few thousand to get your social security number “unblocked” although no such thing exist. They'll do the typical tactics of asking you to go purchase a Money Pak or other cash card so that the can run off with your dough, and you're none the wiser. That's pretty bad. The other way this scam can play out is through malware. The email may contain a link or attachment that, if clicked, embeds software on your computer that can steal logins, credit card information and other credentials. Information like this allows the criminal to steal your money or identity.</p> <p style="color: #595959;"><br /><strong>What to do if you receive a notice like this</strong></p> <p style="color: #595959;">If you get an email from the “Bureau of Defaulters” you should forward it to <a style="color: #2d6187;" href="mailto:spam@uce.gov">spam@uce.gov</a> then immediately delete it. Don't panic, don't worry for a second that you'll be arrested for debt or that your social security number is on some sort of government blacklist. It's not. If you already paid up to a scam email like this, your money is gone, but you should still report it. In North Carolina, contact the <a style="color: #2d6187;" href="http://www.ncdoj.gov/">North Carolina Department of Justice</a> and <a style="color: #2d6187;" href="http://www.ftc.gov/complaint">file a complaint with the FTC</a> as well. Evidence from consumers helps law enforcement compile information to (hopefully) track and shut down scammers that prey on consumers.</p> <p style="color: #595959;">If you already clicked on a link or attachment from an email like this, you should assume <a style="color: #2d6187;" href="http://www.microsoft.com/security/pc-security/malware-removal.aspx">malware i</a><a style="color: #2d6187;" href="http://www.microsoft.com/security/pc-security/malware-removal.aspx" target="_blank">s on your computer</a>. Here's what to do next to protect yourself:</p> <p class="rteindent1" style="color: #595959;">1. Stop using your laptop immediately particularly if you use it to log into your bank, credit card accounts or for online shopping.</p> <p class="rteindent1" style="color: #595959;">2. Download the latest update to your security software then run the program to see if it identifies the malicious software. Delete any questionable programs.</p> <p class="rteindent1" style="color: #595959;">3. If you're not comfortable dealing with malware yourself, take your computer to a professional to get it thoroughly debugged.</p> <p class="rteindent1" style="color: #595959;">4. Monitor your accounts to make sure there's no unauthorized activity and, if you see any, notify your credit card issuer or bank.</p> <p class="rteindent1" style="color: #595959;">5. Change all your passwords - but not until your computer is thoroughly cleaned of any suspicious software that may be tracking your keystrokes.</p> <p class="rteindent1" style="color: #595959;">Please read the original post on our affiliate site, <a href="https://www.billsbills.com/blog/fraud-alert-dont-fall-bureau-defaulters-scam">BillsBills.com</a></p></div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Wed, 06 May 2015 12:53:44 +0000 master 218 at https://creditscorekeys.com https://creditscorekeys.com/what-is-the-timeline-for-a-chapter-13-bankruptcy <span>What is the Timeline for a Chapter 13 Bankruptcy?</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Tue, 05/05/2015 - 08:53</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter" style="color: #595959;"><img title="Timeline" src="https://www.billsbills.com/sites/www.billsbills.com/files/6897782843_d112ea26f5_b.jpg" alt="Timeline" /></p> <p class="rtecenter" style="color: #595959;">When the average consumer files for bankruptcy, they typically choose between Chapter 7 or Chapter 13. Consumers with more than a million dollars of debts may also pursue Chapter 11. Today we'll look at Chapter 13, the more complex of the two common consumer bankruptcy chapters. Start to finish, Chapter 13 can take anywhere from three years to five years. The upside to Chapter 13 is that you should be current on all your obligations by the end of the plan while still retaining all your assets. The downside to <a style="color: #2d6187;" href="http://bankruptcy.findlaw.com/chapter-13/the-chapter-13-debt-discharge.html">Chapter 13</a> is that it can be arduous because it requires you devote all your disposable income to paying down your debts for three to five years. Here's a look at the timeline for this type of bankruptcy.</p> <!--more--> <p style="color: #595959;"><br /><strong>Step 1 – Find and Hire an Attorney</strong></p> <p style="color: #595959;">The first step is to find a reputable and <a style="color: #2d6187;" href="http://www.avvo.com/attorneys/27615-nc-john-orcutt-792506.html">experienced bankruptcy attorney</a> whose practice is devoted solely to bankruptcy. Chapter 13 is not something you want to try and file on your own because it is complex and you must submit a detailed repayment plan for Trustee approval. This can be hard for the average person to do without expertise. Look for a local law firm – not a national firm that's not devoted to the local market. You may also want to meet with several attorneys – most offer a free consultation – to see which one answers all your questions, gives you their complete attention and doesn't try to push you one way or the other but instead offers you informed advice based on your unique circumstances and preferences.</p> <p style="color: #595959;"><em>Time to accomplish: A few days to a few weeks depending on how much time you devote to it.</em></p> <p style="color: #595959;"><br /><strong>Step 2 – Pull Together Your Documents</strong></p> <p style="color: #595959;">You'll need to submit documents to your attorney which are then submitted to the bankruptcy court and the Trustee assigned to your case. Your attorney can't give you proper advice without seeing your financial information. Any lawyer that tells you that a Chapter 7 or Chapter 13 is best for you without knowing your particular circumstances is not giving you informed advice and is not a lawyer you want representing you. You need to bring in your most recent tax filing, your most recent W2s, your last few months of pay stubs and bank statements, copies of mortgage and car loan documents, your utility bills, copies of medical bills and anything that proves your income and expenses.</p> <p style="color: #595959;"><em>Time to accomplish: A few hours to a few days depending on how organized your records are.</em></p> <p style="color: #595959;"><br /><strong>Step 3 – Meet with Your Attorney to Prepare and File Your Petition</strong></p> <p style="color: #595959;">Your attorney will usually prepare your petition while you're in the office with them so they can ask you questions and review your documents while they complete the forms which are then submitted electronically to the bankruptcy court. This will take a couple of hours (give or take) to accomplish. You also must complete a pre-bankruptcy financial counseling session online or over the phone prior to your attorney clicking submit on your forms. This can be done in advance of your attorney appointment or while you're in their office so long as it is with an <a style="color: #2d6187;" href="http://www.uscourts.gov/FederalCourts/Bankruptcy/BankruptcyAdministrators.aspx">approved provider</a>.</p> <p style="color: #595959;"><em>Time to accomplish: A few hours including your pre-bankruptcy counseling.</em></p> <p style="color: #595959;"><br /><strong>Step 4 – Begin Making Your Plan Payments</strong></p> <p style="color: #595959;">Within 30 days of your petition filing, you will start making your repayments according to your proposed plan even though it hasn't been approved. Your Trustee will hold the payments in escrow until the plan is approved and then distribute them to creditors. You will also make your normal payments for your mortgage and auto loans. Other debts like credit cards, medical bills and back balances on mortgage or auto loans are all paid through distributions from the Trustee.</p> <p style="color: #595959;"><em>Time to accomplish: Repayment plans last three to five years.</em></p> <p style="color: #595959;"><br /><strong>Step 5 – Meeting of Creditors</strong></p> <p style="color: #595959;">Both you and your attorney must attend the meeting of creditors. This is the opportunity for creditors to object to your Chapter 13 repayment plan and is sometimes referred to as a 341 Meeting of Creditors. This meeting will occur between 21 to 50 days after your petition is filed. Often, no creditors will show up to the meeting to long as the proposed repayment plan is fair and conforms to the rigors of the bankruptcy code. If you fail to attend, your case will be dismissed.</p> <p style="color: #595959;"><em>Time to accomplish: This meeting takes place at the courthouse and typically lasts only 15 minutes or so. You may have to wait an hour or two </em><em>before hand</em><em> depending on how many meetings are on the docket.</em></p> <p style="color: #595959;"><br /><strong>Step 6 – Confirmation Hearing</strong></p> <p style="color: #595959;">This is a step of your bankruptcy that your attorney takes care of without you. The Trustee assigned to your case reviews the repayment plan your attorney has prepared and either approves it or sends it back to be revised. This is why it's important that your documentation provided is thorough. The judge may ask questions about your plan as well. If none of your creditors object to your submitted plan, you likely will not be required to attend this hearing. This takes place 20 to 45 days after your meeting of creditors.</p> <p style="color: #595959;"><em>Time to accomplish: This should not take up any of your time.</em></p> <p style="color: #595959;"><br /><strong>Step 7 – Debtor Education</strong></p> <p style="color: #595959;">In addition to pre-bankruptcy counseling, you also must complete a <a style="color: #2d6187;" href="http://www.billsbills.com/blog/what-expect-bankruptcy-debtor-education-course">debtor education</a> plan prior to making your final repayment plan installment. It's smart not to wait but to go ahead and get this take care of early. This can be a helpful tool in creating a budget and sticking to it to help you stay on track for the course of your repayment plan so you get the best results from your Chapter 13.</p> <p style="color: #595959;"><em>Time to accomplish: This course can be taken online from home and generally will take just a few hours.</em></p> <p style="color: #595959;"><br /><strong>Step 8 – Discharge of Debts Hearing</strong></p> <p style="color: #595959;">Once you make your last payment, there will be a discharge hearing where the judge reviews your repayment plan and payments and verifies that you satisfied all requirements. Typically, your attorney can go to this meeting without you. Any remaining balances on qualified unsecured debts will be wiped out with your discharge. You should walk away from a successful Chapter 13 current on your mortgage and car loan and, otherwise, debt-free.</p> <p style="color: #595959;">Please read the original post on our affiliate site, <a href="https://www.billsbills.com/blog/what-timeline-chapter-13-bankruptcy">BillsBills.com</a></p></div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Tue, 05 May 2015 12:53:43 +0000 master 217 at https://creditscorekeys.com https://creditscorekeys.com/married-in-debt-and-considering-bankruptcy-how-the-marital-adjustment-can-help-you-get-a-better-deal <span>Married, in Debt and Considering Bankruptcy? How the Marital Adjustment Can Help You Get a Better Deal</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Sun, 05/03/2015 - 08:53</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter" style="color: #595959;"><img title="Married and in debt" src="https://www.billsbills.com/sites/www.billsbills.com/files/3800467037_1c0bf2ee3c_z.jpg" alt="Married and in debt" /></p> <p class="rtecenter" style="color: #595959;">For married couples that are struggling with debt, bankruptcy may be a viable option but if you both work, it may be a challenge to qualify for Chapter 7. While Chapter 13 is a better option if you need time to catch up on back mortgage or car payments to block a foreclosure or repossession, Chapter 7 bankruptcy offers faster and more complete debt relief. Married consumers can opt to file bankruptcy jointly, or one spouse can file individually without the other. Today we'll take a look at when you might want to file individually instead and how your spouse's income can impact your ability to access <a style="color: #2d6187;" href="http://www.billsbills.com/blog/when-and-why-you-should-convert-chapter-13-bankruptcy-petition-chapter-7">Chapter 7 debt relief</a>.</p> <!--more--> <p style="color: #595959;"><br /><strong>When you may want to file individual, not joint, bankruptcy</strong></p> <p style="color: #595959;">If both your names are on all your debts, filing <a style="color: #2d6187;" href="http://www.nolo.com/legal-encyclopedia/filing-joint-bankruptcy-petition.html">joint bankruptcy</a> makes sense. For instance, if your mortgage is in both your names and your payments are delinquent, filing together may be a wise choice. If you have joint credit card accounts, car loans, and other debts, filing together will protect you both. But if your debts are mostly in the hands of one of you, particularly those debts that are behind and you're struggling to pay, an individual filing makes sense. Sole bankruptcy, particularly a Chapter 7, can wipe out your individual credit cards, medical bills and many other unsecured debts while shielding your spouse and their credit rating from the filing.</p> <p style="color: #595959;"><br /><strong>How the bankruptcy system treats spousal income in Chapter 7</strong></p> <p style="color: #595959;">In order to qualify for a Chapter 7, you have to pass a <a style="color: #2d6187;" href="http://www.justice.gov/ust/eo/bapcpa/meanstesting.htm">Means Test</a>. This test considers all of the income that comes into the household and the expenses. So long as you and your spouse share a household, both incomes will be considered. If, however, you do not live together (perhaps because you're legally separated) then the court may consider only your income and expenses. If your spouse earns significant income or if your income is nearly high enough to cause you problems with the Means Test, spousal income can bar you from getting the more complete relief offered by a Chapter 7.</p> <p style="color: #595959;">However, the court does allow you to deduct back out some portions of your spouse's income. The Means Test instructions say you can <a style="color: #2d6187;" href="http://www.justice.gov/ust/eo/bapcpa/docs/ch7_line_by_line.pdf">reduce your spouse's income</a> by the following:</p> <br /><ul class="rteindent1" style="color: #595959;"><li>Withholding taxes – This includes state and federal withholding as well as Social Security and Medicare tax withholding.</li> <li>Student loan payments – If you spouse is still paying student loans, this amount can also be backed out of their income.</li> <li>Support obligations – This includes child support or alimony payments your spouse is required to pay from a prior court case.</li> <li>Debts of the spouse – Certain debts of the spouse that are only in their name and from which only they benefit. For instance, credit card payments for cards in your spouse's name that are used for them personally and not to pay household costs could be excluded. Car loan payments for a vehicle that they drive and that you don't use for transportation needs may also be excluded. Debts and expenses that are in their name only but that benefit the household cannot be excluded – this would include utility payments for your joint home, furniture loans for goods in your shared house, etc.</li> </ul><p style="color: #595959;">The bottom line is that you shouldn't assume that you won't be eligible for a Chapter 7 bankruptcy simply because of your spouse's income. It's worth the effort to go through the Means Test process and see how it works out. Means Test calculations can be complex to assess on your own. We recommend you consult with a reputable bankruptcy attorney to determine which chapter of bankruptcy will best benefit you and your spouse.</p> <p style="color: #595959;">Please read the original post on our affiliate site, <a href="https://www.billsbills.com/blog/married-debt-and-considering-bankruptcy-how-marital-adjustment-can-help-you-get-better-deal">BillsBills.com</a></p></div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Sun, 03 May 2015 12:53:42 +0000 master 215 at https://creditscorekeys.com https://creditscorekeys.com/5-warnings-signs-your-credit-cards-are-out-of-control <span>5 Warnings Signs Your Credit Cards Are Out of Control</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Sun, 05/03/2015 - 08:53</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter" style="color: #595959;"><img title="Credit card problems" src="https://www.billsbills.com/sites/www.billsbills.com/files/9211376352_5e551d801c_k.jpg" alt="Credit card problems" /></p> <p class="rtecenter" style="color: #595959;">Employment opportunities are on the rise, and the economy is rebounding nicely these days. Even the real estate market is bouncing back. One of the most significant signs of improved consumer confidence is the increase in <a style="color: #2d6187;" href="http://www.billsbills.com/blog/7-credit-card-tips-protect-your-fico-score-and-your-wallet" target="_blank">credit card debt</a>, particularly reflected in <a style="color: #2d6187;" href="http://investor.equifax.com/releasedetail.cfm?ReleaseID=896888" target="_blank">December holiday spending</a>. US consumer credit card balances rose by nearly 6% on average year over year. But that's just on average. In fact, many people have run up their balances much more, and this can cause serious financial problems. Here are five warning signs that your credit card spending is out of control:</p> <!--more--> <p style="color: #595959;"><br /><strong>#1 You use credit cards to pay for necessities</strong></p> <p style="color: #595959;">If you have to use credit cards to pay bills, groceries or utility bills because your paycheck isn't enough to meet your obligations, this is a huge red flag that you've got financial problems. Credit cards should be used wisely and conservatively (like for car rentals or to take advantage of rewards programs) but not as a substitute for cash. If you can't afford to pay cash, neither should you swipe your plastic. But for many people, this is the only way they can get by.</p> <p style="color: #595959;"><br /><strong>#2 Your credit cards are maxed out</strong></p> <p style="color: #595959;">If your credit cards are at their limit, that's an obvious sign that you've got financial trouble brewing. In addition to being a challenge to pay off, maxed out credit lines negatively affect your credit score. When you use more than 30% of your total available credit, your credit score begins to decline. The more of your credit line you use, the more significant the hit to your credit score. Plus, once you max out your credit cards, it can be a serious obstacle to get your balances back under control.</p> <p style="color: #595959;"><br /><strong>#3 You pay off credit with credit</strong></p> <p style="color: #595959;">If you have ever paid off one credit card with another or took out a cash advance from one card to pay another, that's a red flag – made worse if you do it often. If you used a home equity line of credit or took on another debt to pay off your credit cards only to run them up again, that's a problem. Many people make the mistake of borrowing to pay off credit cards but then falling back into debt because they cannot afford that loan any more than they could the credit card debt. It's can be a vicious cycle.</p> <p style="color: #595959;"><br /><strong>#4 You only pay minimum balances</strong></p> <p style="color: #595959;">If you can only afford to pay <a style="color: #2d6187;" href="http://credit.about.com/od/usingcreditcards/qt/minimumonly.htm" target="_blank">minimum payments</a> on your credit cards, the simple fact is it will take you years – even a decade – to pay off your cards. Paying the minimum will not reduce your balance by much (if any). It typically only takes care of the interest with maybe a couple of bucks that covers the accrued interest. When you reach the point where only minimum balances are affordable, you're in too deep - this can be a frustrating and scary point to reach.</p> <p style="color: #595959;"><br /><strong>#5 You've skipped credit cards payments</strong></p> <p style="color: #595959;">If you ever miss a credit card payment, not only is it a warning sign but it's the start of more serious financial problems. When you miss even one payment, you'll usually be hit with a stiff late fee from $25-$50 (or more), and this will add to your balance causing you more interest costs. And, if the late fee pushes you over your credit limit, that means you'll likely be hit with an over-limit charge as well of $25-$50 (or more). One missed payment can cost you hundreds of dollars.</p> <p style="color: #595959;">Once your credit cards get so out of control that you're maxed out and missing payments, collection calls will start. Credit card companies are notorious for <a style="color: #2d6187;" href="http://www.creditcards.com/credit-card-news/ossenfort-aggressive-debt-collectors-1292.php" target="_blank">aggressive debt collection tactics</a> that compound what's already a stressful financial predicament. If your cards are maxed out, you're late on other bills, living paycheck to paycheck and can't see any way out of this, you need a debt intervention.</p> <p style="color: #595959;">Please read the original post on our affiliate site, <a href="https://www.billsbills.com/blog/5-warnings-signs-your-credit-cards-are-out-control">BillsBills.com</a></p></div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Sun, 03 May 2015 12:53:42 +0000 master 216 at https://creditscorekeys.com https://creditscorekeys.com/fraud-alert-skimming-scams-on-the-rise-in-north-carolina-protect-yourself <span>Fraud Alert: Skimming Scams on the Rise in North Carolina – Protect Yourself</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Sat, 05/02/2015 - 08:53</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter" style="color: #595959;"><img title="ATM skimmer" src="https://www.billsbills.com/sites/www.billsbills.com/files/6227173823_e966273663_z_0.jpg" alt="ATM skimmer" /></p> <p class="rtecenter" style="color: #595959;">If you've never heard of skimming, it's one of the sneakiest scams ever to steal your credit card information and then empty your bank account or max out your credit card. The US Secret Service investigates cyber crimes that include skimming. Recently, they've found that <a style="color: #2d6187;" href="http://%3Ciframe%20width%3D%22550%22%20height%3D%22309%22%20src%3D%22https//www.youtube.com/embed/VAq8GRewpZE?rel=0&amp;amp;showinfo=0%22%20frameborder=%220%22%20allowfullscreen%3E%3C/iframe%3E" target="_blank">skimming is spreading</a>across North Carolina in Greensboro, Asheville, Charlotte and more areas every day. In this fraud alert, we'll take a look at skimming, where to look out for it and how to protect yourself.</p> <!--more--> <p style="color: #595959;"><br /><strong>What is credit card skimming?</strong></p> <p style="color: #595959;">Credit and debit card skimming is a clever fraud because you are the one that inadvertently hands over your card info to the thief without ever knowing it. Skimming starts with a device that's attached to a gas pump or ATM and when you slide your card, the information from your data strip is read and recorded by the device. Skimming thieves will also plant a pinhole camera to record your PIN code or zip code as you enter it at the ATM or the gas pump. With the magnetic strip data and your zip code (for credit cards) or PIN number (for debit cards), thieves are poised to do you great financial damage. While gas pumps and ATMs are the most common target of skimming, <a style="color: #2d6187;" href="http://krebsonsecurity.com/2014/05/postal-service-beware-stamp-kiosk-skimmers/" target="_blank">Redbox machines</a> have also been targeted.</p> <p style="color: #595959;"><br /><strong>How to prevent credit card skimming</strong></p> <p style="color: #595959;">Credit card skimming is one of the most difficult types of fraud to detect because your card is never out of your hand, stolen nor lost. You're more careful when your card leaves your hand at a restaurant, but when it's in your hand, it feels safe, and you're less likely to be on your guard. But there are still some ways to protect yourself from potential skimmers. First is to avoid the ATM altogether. If you need cash back, get cash back at the register. This is smarter anyway since many thieves lurk around ATMs looking for easy targets.</p> <p style="color: #595959;">Second, at the gas station, skip pay at the pump and go inside to pay where you can swipe your card yourself or watch the cashier do it. Third, anywhere else you swipe your card, look closely at the device before you insert your card. Scratches are a warning sign as are objects that don't look like they are part of the original equipment. But more sophisticated skimmers may be very hard for you to detect. Check out the police-prepared video below to see how these devices work and how to spot them.</p> <p class="rtecenter" style="color: #595959;"><iframe src="https://www.youtube.com/embed/VAq8GRewpZE?rel=0&amp;showinfo=0" width="550" height="309" frameborder="0" allowfullscreen="allowfullscreen"></iframe></p> <p style="color: #595959;">You may not be able to protect yourself from skimming, but you can be on the look out for the after-effects. Regularly monitor your credit card and bank accounts for balance changes. If possible, set up alerts so that charges over a certain amount or certain balances will notify you via text or email. Timely notice of fraud is critical because you only have a limited window of time to <a style="color: #2d6187;" href="http://www.nolo.com/legal-encyclopedia/unauthorized-credit-debit-card-charges-29654.html" target="_blank">notify your card issuer</a> and recover lost money or reverse unauthorized charges. It's always a good idea to monitor your bank and credit card accounts to protect yourself from identity theft and fraud.</p> <p style="color: #595959;">Please read the original post on our affiliate site, <a href="https://www.billsbills.com/blog/fraud-alert-skimming-scams-rise-north-carolina-protect-yourself">BillsBills.com</a></p></div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Sat, 02 May 2015 12:53:41 +0000 master 214 at https://creditscorekeys.com https://creditscorekeys.com/5-ways-not-filing-bankruptcy-can-hurt-you-if-youre-deep-in-debt-you-cant-pay <span>5 Ways Not Filing Bankruptcy Can Hurt You if You&#039;re Deep in Debt You Can&#039;t Pay</span> <span><span lang="" about="/user/1" typeof="schema:Person" property="schema:name" datatype="">master</span></span> <span>Fri, 05/01/2015 - 08:32</span> <div class="field field--name-body field--type-text-with-summary field--label-hidden field--item"><p class="rtecenter" style="color: #595959;"><img title="Debt hurts" src="https://www.billsbills.com/sites/www.billsbills.com/files/3899825528_7261373b15_z.jpg" alt="Debt hurts" /> ​</p> <p class="rtecenter" style="color: #595959;"><a style="color: #2d6187;" href="http://www.billsbills.com/blog/new-bankruptcy-study-shows-2005-reform-hurt-consumers">We wrote yesterday</a> about a recent study that showed that bankruptcy reform has harmed many consumers. For those that worry that filing bankruptcy can bring negative consequences, you should know that not filing can hurt you more. Many who are deep in debt will soldier on and let things continue to get worse because they don't know that bankruptcy can help. Or, they believe that the fallout from bankruptcy is just as bad as being in debt. Nothing could be further from the truth. Here are five ways that lingering in debt and not filing bankruptcy can make your life worse.</p> <!--more--> <p style="color: #595959;"><br /><strong>#1 Wrecked Credit Score</strong></p> <p style="color: #595959;">Even though filing bankruptcy does lower your credit score in the short run, in the long run, it can boost it significantly. Here's why. When you allow debt to linger, your credit score will get lower and lower. Then, when debts go into collections, it triggers a second entry on your credit report for that account and this collection account further lowers your credit score. These will linger until the items fall off your credit report which will take seven years or longer if you make occasional payments. By contrast, filing bankruptcy clears these old items off your credit so that they don't continue to degrade your score. Then once you get new credit opportunities, your score starts to rebound rapidly.</p> <p style="color: #595959;"><br /><strong>#2 Inevitable Foreclosure</strong></p> <p style="color: #595959;">The <a style="color: #2d6187;" href="http://www.columbia.edu/~jn2290/reform_insolvency.pdf">study by the Federal Reserve</a> we mentioned shows that foreclosures occur much more frequently for those that do not file bankruptcy than for those that do. Here's why. If you're current on your mortgage payments, filing Chapter 7 will not affect it – you won't have to surrender your home so long as your equity doesn't exceed the North Carolina homestead exemption. Then the money you free up not dealing with other debts can allow you to more easily make your mortgage payments. And, once your credit score improves, you can refinance. But those with lingering debt will find themselves increasingly unable to pay their mortgage and may even be hit with leins that force them into foreclosure.</p> <p style="color: #595959;"><br /><strong>#3 Ongoing Stress</strong></p> <p style="color: #595959;">Excessive <a style="color: #2d6187;" href="http://www.debt.org/advice/emotional-effects/">debt is stressful</a>. That's a proven fact. It takes its toll on your health and mental and physical well-being. Here's why. Debt causes not only depression but can weaken your immune system to the point that you may be more prone to illness. All this can make it harder for you to focus on work, can even cost you your job and can make life feel like it's not worth living. Every time the phone rings, you may feel dread because you know it's someone calling to hassle you for money. You'll be scared to answer your phone, embarrassed when you get collection calls at work, and all of this eats away at your self-esteem and ability to have any quality of life. It doesn't have to be this way.</p> <p style="color: #595959;"><br /><strong>#4 Lost Job Opportunities</strong></p> <p style="color: #595959;">The lower credit score that comes with continued bad debt can cost you job opportunities. Here's why. Many more employers now <a style="color: #2d6187;" href="http://www.huffingtonpost.com/amy-traub/senator-warrens-latest-ta_b_4536055.html">require credit checks</a> as part of pre-employment screenings even for positions that have nothing to do with cash handling or finance. It's just one more way of thinning a field of applicants. By not using bankruptcy to increase your declining credit score, you can miss out on opportunities for better paying jobs that can further increase your financial stability. It's a losing cycle of not being able to pay debts because you can't get a good job and not being able to get a good job because you can't pay your debts. This is no way to live.</p> <p style="color: #595959;"><br /><strong>#5 Increased Costs of Living</strong></p> <p style="color: #595959;">Having a pile of debt and a lower credit score can have the cumulative effect of increasing your expenses. Here's why. Many services that seem to have nothing to do with credit rely on credit to assess your charges. Auto and homeowner's <a style="color: #2d6187;" href="http://www.bankrate.com/finance/insurance/how-credit-affects-your-insurance-score.aspx">insurance rates</a> are largely determined by credit rating. An efforts to get credit will result in much higher interest rates and less favorable terms. Existing credit providers may increase your interest rates based on your declining credit ratings – credit card issuers are known for this. You may not be able to get a bank account and may rely on check cashing firms to convert your paychecks to spendable currency and they charge stiff fees. This is no way to run your life.</p> <p style="color: #595959;">Please read the original post on our affiliate site, <a href="https://www.billsbills.com/blog/5-ways-not-filing-bankruptcy-can-hurt-you-if-youre-deep-debt-you-cant-pay">BillsBills.com</a></p></div> <div class="field field--name-field-blog-tags field--type-entity-reference field--label-above"> <div class="field--label">Blog tags</div> <div class="field--items"> <div class="field--item"><a href="/category/uncategorized" hreflang="en">uncategorized</a></div> </div> </div> Fri, 01 May 2015 12:32:02 +0000 master 212 at https://creditscorekeys.com