Credit Corp

FEBRUARY 13, 2025

Debt settlement, also known as debt negotiation or debt resolution, means your creditors have agreed to accept less than the full amount you owe them. If youre considering working with a debt settlement company to negotiate or settle your debts , you should ask them some essential questions before signing up.

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Credit Corp

MARCH 16, 2021

Is your credit card debt behaving like an unruly boy and has gone completely out of your control? Are you spending sleepless nights wondering how to get yourself out of a debt spiral? Or perhaps it’s a burgeoning credit card debt? How to Control Your Debt Yourself. Look Where You Are.

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Collection Industry News

APRIL 13, 2024

But now finances have been stretched thin by rising costs of essentials like food, housing and energy, so many people have had no choice but to turn to borrowing products, like credit cards, to help cover their costs. In turn, getting out of high-interest credit card debt needs to be a top priority for most people.

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Collection Industry News

JUNE 7, 2021

A debt collector’s offer to settle an outstanding debt didn’t need to inform the consumer that their balance could increase due to interest and fees, because it didn’t make the letter misleading under federal law, the Second Circuit said Friday. The company’s settlement offer wasn’t required under the Fair Debt Collection Practices ….

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Better Credit Blog

APRIL 11, 2022

Although accruing lots of debt isn’t ideal, it may sometimes be unavoidable, such as mortgage payments or student loans. In these situations, debt is considered positive mainly because your financial objective has value and long-term benefits. This list should include any personal loans, mortgages, car leases, and credit card debt.

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Credit Corp

AUGUST 24, 2021

The credit counselor helps you create a plan. This might include options such as budgeting, debt settlement, consolidation loans, or debt management programs. Working with a debt settlement company is different and typically does come with some fees, though. Debt settlement. Balance transfers.

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Better Credit Blog

APRIL 1, 2022

To remove Capital One Collections from your credit report, you first need to know who currently owns the debt. In other words, has Capital One sold your unpaid credit card debt to another collection agency, or is the debt still with Capital One? Why would this kind of debt settlement work?

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Sawin & Shea

AUGUST 24, 2020

Bankruptcy may affect your credit score (it sometimes can make your score better!), Whether or not you file for bankruptcy also depends on the kind of debt you have. Debt settlement with the wrong organization or a scam can destroy your credit. but it can also help give you a fresh start.

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Collection Industry News

DECEMBER 1, 2022

Collections agencies buy your unpaid credit card debt from your card issuer when your balance lingers too long — but that doesn’t mean it goes away. When a collections representative from your credit card issuer calls you, it’s usually because you haven’t made at least the minimum payment for at least 30 days.

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Titan Consulting

AUGUST 23, 2020

Why is a Chapter 13 Bankruptcy Worse a Debt Settlement Program? In a chapter 13 Bankruptcy, you will be required to pay back a portion of your debt over a 3-5 year period of time. In addition to this, the satin of Bankruptcy will be reported on your credit report for 7 years form the date of filing.

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Sawin & Shea

NOVEMBER 8, 2023

Factors like inflation, high interest rates, and economic uncertainty have found more and more Americans relying on credit cards to get by. In fact, Americans are at an all-time high when it comes to credit debt to the tune of $1 Trillion. On average, Americans individually carry about $7,951 in credit card debt.

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Better Credit Blog

JANUARY 20, 2022

This is why many people engage the services of a debt relief agency. TransUnion calculates that paying off $5,000 of credit card debt at the minimum rate costs $10,000 in interest. The fees you can expect to pay for Freedom Debt Relief’s services range from 15–25%. National Debt Relief vs. Freedom Debt Relief.

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Debt Guru

AUGUST 30, 2021

There are two forms of bankruptcy: Chapter 7 bankruptcy is when you go to court and ask that all of your outstanding debt is discharged. It is ideal for those who seek to do away with their unsecured debt such as credit card debt, medical bills, and unsecured loans. Debt Settlement.

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Credit Corp

JUNE 1, 2021

Include a line item in the budget for any credit card debt. If your gross monthly income is $5,000, then your debt-to-income ratio would be 49%. Eliminate or Avoid Any Credit Card Debt. Some debt can be considered “healthy” or “productive.” Account for a splurge. Subtract expenses from income.

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Better Credit Blog

APRIL 4, 2022

Most commonly, a debt collector will try to make you feel guilty, implying you’re stealing or not doing your part as a responsible citizen by not being able to pay your medical bills or credit card debt. Try To Negotiate On Older Debts. Don’t fall for this nonsense. It’s all an act.

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Better Credit Blog

MAY 4, 2022

You can combine credit card debt, car finance, personal loans, student loans, medical bills, payday loans, and other types of unsecured debt. But is debt consolidation a good idea for you? In this case, you can look to alternative types of debt relief, such as debt settlement or bankruptcy.

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Better Credit Blog

AUGUST 9, 2021

Payoff – Best For Paying Off Credit Card Debt. Payoff specializes in debt consolidation loans that can help you pay off credit card debt, and will even send direct payment to your creditors. ” What Are Some Other Options To Debt Consolidation Loans? 10 late payment fee.

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Better Credit Blog

AUGUST 9, 2021

Payoff – Best For Paying Off Credit Card Debt. Payoff specializes in debt consolidation loans that can help you pay off credit card debt, and will even send direct payment to your creditors. ” What Are Some Other Options To Debt Consolidation Loans? 10 late payment fee.

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Credit Corp

AUGUST 8, 2024

Credit card debt forgiveness: Applying for credit card debt forgiveness lets you free up cash that you were using to pay down a credit card so you can more easily repay your cosigner.

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Debt Free Colorado

DECEMBER 23, 2024

Unsecured Debts in Chapter 7 Bankruptcy In Chapter 7 bankruptcy , most unsecured debts can be wiped away completely. This type of bankruptcy often eliminates credit card debt, medical bills, and personal loans. Chapter 7 bankruptcy remains on credit reports for 10 years.

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Better Credit Blog

JANUARY 11, 2022

. “In my opinion, filing bankruptcy improves your credit profile. But I ask them how is your credit now? If you have a 100k in credit card debt and you are delinquent on your payments, your credit already stinks,” says Scott. This is hard for some people to understand.

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Sawin & Shea

MAY 2, 2024

While there is no minimum debt amount for filing for bankruptcy, you’ll want to make sure you have enough dischargeable debt to make filing worthwhile. Dischargeable debts are those that can be eliminated through bankruptcy. The key is making an informed choice based on your unique circumstances.

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