In more cases than not, debt consolidation loans don't make sense. They're certainly attractive: the lure of being able to pay off all of your credit cards is a strong one, especially in exchange for a single monthly payment to your bank or credit union at a lower interest rate. It's definitely a tantalizing opportunity, but it's not perfect. Remember, debt consolidation loans are financial products, which means financial institutions wouldn't offer them to you if they didn't make money from them. Here are a few tips to make sure you're not falling into a trap:

Aside from all things finances, lenders and agencies will also consider your living history. While this is not typically disclosed, it’s a facet that must be taken into consideration. Are you the type of individual who moves from location to location? Have you lived in the same home for over 10-15 years? Chances are, if you are categorized in the latter, lenders will be more interested in helping you. Keep in mind, lenders are taking a deeper looking into individual characteristics and traits. An individual that continues to move may be inconsistent or risky. If you are quick to move from location to location, are you quick to spend all the credit lent to you?
If you have missed multiple payments, perhaps its time to set-up payment reminders. In the digital age, you can schedule your cell-phone, laptop, and even email to remind you when a payment is due. On top of this, you can purchase sticky notes and post them around your entire home or office to remind yourself when a specific bill is due. In a lenders eyes, there should not be an excused for a missed payment. Just like the example of lending money to your friend, a lender is expecting to receive their capital back in a timely manner.

With credit counseling out of the way and a clear decision made to file Chapter 13, the next step is to review the district courts in your state to determine which court should receive your paperwork. After determining the right court, you’ll want to go to their website and download the local forms that the local court requires for your filing, most notably the Chapter 13 Plan, Form 113, which may require the federal form or a local form.

The testimonials and results provided, although exciting, are provided for illustrative purposes only and are not typical, your results will vary. We promise only to perform the work agreed to in the terms and conditions of our retainer agreement with you, the client, and to charge each month only for work already completely performed. As with any legal services, no specific outcome is promised or guaranteed. The services of YourCreditAttorney.com, backed by Centurion Law Firm may not be available in all states. No guarantee of, nor representation that YOUR credit score will increase is made by these illustrative past results, your credit can only be improved in accordance with federal laws requiring the information on your credit report not be inaccurate, unverifiable nor misleading. YOUR RESULTS WILL VARY.
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When you find yourself with damaged credit, it’s important to catch your breath and begin laying the foundation for a brighter financial future. Testing your financial literacy and educating yourself are part of that. But the centerpiece of this effort should be your emergency fund. With money saved for a rainy day, you’ll be far less likely to miss payments and damage your credit if met by hefty emergency expenses.
You could consolidation the loans with a federal Direct Consolidation Loan. The Department of Education will issue you a new loan and use the money to pay off your existing loans. If you include your defaulted loan, that loan will be paid off, and your new consolidation loan will be current. To be eligible, you must agree to either repay the consolidation loan with an income-driven repayment plan or to make three monthly payments on your defaulted loan before applying for consolidation.

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Checking your credit report on a periodic basis, at least annually, is a good way to catch any instances where you might be the target of identity theft – or the credit bureau has accidentally mixed up your history with someone of a similar (it happens more than you'd think). If you are concerned about others accessing your credit report without your permission, you can freeze it, which will limit who can access the information and under what circumstances. If you think you are a victim of identity theft, contact your local law enforcement authority immediately.

You have the right to dispute any information in your credit report that's inaccurate, incomplete, or you believe can't be verified. When you order your credit report, you'll receive instructions on how to dispute credit report information. Credit reports ordered online typically come with instructions for making disputes online, but you can also make disputes over the phone and through the mail.
Anyone can join First Tech Federal Credit Union by becoming a member of the Financial Fitness Association for $8, or the Computer History Museum for $15. You can apply for the card without joining first. The intro 0% for 12 months and no transfer fee on balances transferred within first 90 days of account opening is for the Choice Rewards World MasterCard® from First Tech FCU. After the intro period, an APR of 11.74%-18.00% variable applies. You also Earn 20,000 Rewards Points when you spend $3,000 in your first two months.
Calculated metric using data from “Quarterly Report on Household Debt and Credit May 2017” Percent of Balance 90+ Days Delinquent by Loan Type and Total Debt Balance and Its Composition. All Loans, from the Federal Reserve Bank of New York and Equifax Consumer Credit Panel. Accessed July 23, 2017. Multiply all debt balances by percent of balance 90 days delinquent for Q1 2017, and summarize all delinquent balances. Total delinquent balance for non-mortgage debt = $284 billion. Total non-mortgage debt balance = $4.1 trillion$284 billion /$4.1 trillion = 6.9%.
The lack of information and knowledge surrounding the credit industry has led people to create false beliefs of what is good credit, what is bad credit, and how to repair credit fast. What’s fascinating and quite unsettling is that people think that it’s hard to repair credit fast. We are here to break barriers and provide the information you need to understand that fast credit repair is doable. To make strides to decrease the number of households in debt and provide valuable information to credit-holders, we are going to explore the basics of credit and how to repair credit fast.
Beyond that is creditor information, which makes up most of your reports. This includes different accounts you have (loans, credit cards, etc.), their status (open/closed, in collections), balances, credit limits and payment details. This may also include dates of missed payments or late payments, or when the accounts were sent to collections. From these details, your credit scores will be formed.
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