How to Deal with Debt Collectors When You Can’t Pay

Posted by admin9 on Sep 27, 2021 in ARTÍCULOS, Blog | Comments Off on How to Deal with Debt Collectors When You Can’t Pay No one wants to be in debt. No matter the reason you find yourself in this situation, it can feel overwhelming when you aren’t sure of the way out. You don’t want to stay in debt, but you’re struggling to pay it all back. What can you do? Right now, the most important thing to do is learn how to deal with debt collectors. One of the most important things you need to know when a debt collector calls you is that you have legal rights. No matter what you owe and how far behind you are, they are not allowed to harass and intimidate you. There are ways for you to make a bad situation a little better.  How to Deal with Debt Collectors When You Can’t Pay Whether you’re a little short this month or seriously behind on payments, it is best you act quickly to minimize the damage of having debt you can’t afford. At this point, you don’t have a lot of great options but there are a few things you should do and a few things you should not do (even though you probably want to!) DO Ask for specific information about the debt Without admitting the debt is yours, get information from the debt collector. Ask who the original creditor was, the original debt amount, and how much is still owed. The more details the debt collector can provide, the better.  Try settling or negotiating Now is the time to see if the debt collector will settle for a portion of the cost if you pay up front. They may decide that some money is better than no money. If they still want the full amount due, you may be able to set up a payment plan. DO NOT Ignore the repeated attempts to contact you Ignoring a debt collector when a debt is yours can cause further damage to your credit score and report. Plus, it won’t work anyway. Debt collectors will continue to contact you until the debt is paid. Admit the debt is yours Did you notice above that we told you not to admit it is your debt? If the statute of limitations has expired, the debt collector can no longer sue you to recoup the debt. Admitting a debt is yours may reset the clock on old debt. This is why it is never a good idea to...
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Is There a Limit to How Many Times a Debt Collector Can call me?

Posted by admin9 on Sep 27, 2021 in ARTÍCULOS, Blog | Comments Off on Is There a Limit to How Many Times a Debt Collector Can call me? You know you have debt to pay back. You’re trying, but it’s taking longer than you had expected. With your regular bills, like your rent, car payment, insurance, food, gas, and other utilities, it feels impossible to set anything aside to pay down your debt. You’re trying, but the extra money just isn’t there. The company or companies you owe money to don’t seem to understand this, or at least not care. They keep calling…and calling…and calling… and calling. Do you feel you’re being harassed? Is there a limit to how many times a debt collector can call you? It’s time you learn more about the protections for you built into the law. How many times can a debt collector call me? First, one of the most important things you need to know when a debt collector calls you is that you have legal rights. Debt collecting agents must not use improper methods or any form of harassment when contacting you. This means debt collectors agents are not allowed to use abusive language or intimidate you with physical violence.  The FDCPA (Fair Debt Collection Practices Act) was approved in 1977 with the aim of eliminating abusive debt collection practices. Are you getting harassing calls from a debt collector at home or at work ? Are you receiving many calls per day from the same collector? Are debt collectors filling your voicemail box and calling at all hours of the day? You don’t have to put up with harassing calls. Some of these calls are illegal! Federal law doesn’t give a specific limit on the number of calls a debt collector can place to you. However, a debt collector may not call you repeatedly or continuously intending to annoy, abuse, or harass you. A debt collector can’t call you about your consumer debt at an unusual or inconvenient time. If a debt collector calls you before 8 a.m. in the morning or after 9 p.m. at night, it’s presumed to be inconvenient. You do have a right to tell the debt collector to stop calling you. Debt management with Safe Credit Solutions Once you are already in debt, it’s essential to learn how to handle that debt efficiently. We have a team of professionals here to help you to keep up with financial obligations and make sure that you pay your debts off as quickly as possible. If you can’t...
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3 Credit Hacks That Will Change Your Life

Posted by admin9 on Aug 19, 2021 in ARTÍCULOS, Blog | Comments Off on 3 Credit Hacks That Will Change Your Life If you spend much time on the internet, you’ll probably find a lot of life hacks. Did you know you can use a paperclip to easily mark the end of a tape roll? Did you know you can use chopsticks to avoid orange fingers while eating cheetos? While these are pretty cool, they’re not going to have as huge an effect on your life the way a credit hack will. No matter how daunting it may seem, it is absolutely possible to build, repair, and boost your credit scores. Anyone can have good credit, even you! In fact, it’s actually a lot more straightforward than you might think.  You can be amazed how a good credit score helps you to improve your financial status and change your life. Here are a few credit hacks you should be aware of that won’t just give your scores a boost, they’ll change your entire life! #1 Keep at Least Three Major Credit Cards By far, one of the best ways that you can repair your credit involves keeping several major credit cards open at all times. You may worry that having too many cards at once will hurt your credit. Actually, the opposite is true and you want several lines of open credit. As long as you make payments on time and avoid falling too far into debt, it is considered a good thing to have three or even four credit cards. Making three payments on-time every month will always raise your credit faster than a single payment to one card. #2 Understand “Credit Utilization” As you open more than one credit card, you’ll want to pay close attention to your credit utilization. This term refers to the percentage of your total credit that you are currently using on a regular basis. You want to use some of your total line of credit, but not all of it. For the biggest impact on your credit score, try to keep the total of all of your balances around 25% to 30% for as long as you can.  #3 Increase Your Credit Limits as Much as Possible Let’s say you really need to put $5,000 on a credit card, but the limit of the card is the same $5,000. You’ve now maxed out your credit limit, and your score is going to take a hit. Before you put the $5,000 on, you could request...
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6 Important Credit-Related Questions to Ask Yourself

Posted by admin9 on Aug 19, 2021 in ARTÍCULOS, Blog | Comments Off on 6 Important Credit-Related Questions to Ask Yourself Being an adult means dealing with very important financial-related topics. Understanding concepts like debt and credit are essential to a happy life and bright future. Do you know everything you should? Let’s begin by asking yourself a few questions. Can I earn a credit score without a credit history? For some reason, no credit is the same thing as bad credit! Consumers with no history can build credit in several ways. You can do this by getting a secured credit card, asking a family member to add you as a credit user, or getting a cosigned loan for a new car or credit card. Will bad credit affect a job application? Yes, and no. It is technically legal, though thankfully it doesn’t happen very often. The only time bad credit might affect a job application is if the job has fiduciary responsibilities. For a job like an accountant, a poor credit score may suggest you do not have the money management skills needed. Can collection agencies collect on my old debt? Each state has a law referred to as a statute of limitations that spells out the time period during which a creditor or collector may sue borrowers to collect debts. In most states, they run between four and six years after the last payment was made on the debt. If you make a new payment, the timeline begins again! Do too many cards hurt my credit? Actually, you want several lines of open credit. As long as you make payments on time and avoid falling too far into debt, it is considered a good thing to have two, three, or even four credit cards. Does bankruptcy affect my credit forever? Declaring bankruptcy can feel like a weight you’ll never truly break free from. We are happy to tell you that this is not the case. Be patient! Declaring bankruptcy does harm credit as it remains on your credit report for seven years. You’ll need to focus on credit repair. It takes time but can be done, and with great success. How can I avoid debt? This may seem impossible, but it is not. One of the most essential abilities to have for money management is cost control. Budgeting is learning to put cash aside for significant things first and then spending the rest smartly. Debt is not necessary and with proper money management techniques, you can avoid most...
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What to do When a Debt Collection Agency Knocks on Your Door

Posted by admin9 on Aug 19, 2021 in ARTÍCULOS, Blog | Comments Off on What to do When a Debt Collection Agency Knocks on Your Door In a perfect world, your home is your private place of peace and sanctuary. If you owe debt to a lender, though, this privacy is shattered. Phone calls become more frequent and then one day, debt collectors actually start coming to your home! This is truly a nightmare. What can you do? Is this legal? We’ll answer these questions, and more, right now. Can They Come to Your Home? To address your first question, yes. Debt collectors can show up in person where you live. That being said, federal laws say they can’t do any of this: Force you to answer the doorEnter your home without your permissionTake anything off your propertyTell your neighbors about your debtImpersonate law enforcementBroadcast your debt problems to the neighborhoodPost flyers about your bad debtThreaten to or actually do any physical harm to youHarass or humiliate you into payingRefuse to leave  There’s essentially no reason for them to come to your home, because there’s nothing they can do in person that they couldn’t do over the phone. They do sometimes try this tactic, though. Why? Because it is scary, so it works! This is what they can and cannot do, but what about you? What can you do? Know Your Rights First, one of the most important things you can and should do when a debt collector comes to your home is to know that you have legal rights. If a debt collector contacts you, either in person or over the phone, make sure you ask for basic information, like the name of the debt collection company they are representing and a written notice of your debt. Remember, debt collecting agents must not use improper methods or any form of harassment when contacting you. This means debt collectors agents are not allowed to use abusive language, to humiliate you in front of your neighborhood, or intimidate you with physical violence. If you feel your rights are being violated, or if you simply don’t want them on your property, tell the debt collector to leave immediately. They must comply with this request.  Repossessions Please note that property repossession and debt collection are two entirely different things, even though they both deal with a debt being owed. In this case, the lender or property title holder is legally within their right to take your property. For instance, they can repossess your car if you don’t pay...
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Does Using Credit Cards vs. Cash Help My Credit Score?

Posted by admin9 on Jun 1, 2021 in ARTÍCULOS, Blog, Legal créditos | Comments Off on Does Using Credit Cards vs. Cash Help My Credit Score? You’ve had some struggles in the past in regards to your credit. You’re trying to fix your credit score, but it seems like it’s taking so long! Building your credit score is a lot like building a good reputation. It takes years of hard work. If you have a “bad reputation” you have to work even harder to change people’s minds about you. Just the same, working your way out of bad credit into fair and even good credit is going to take patience and consistency. This can be disheartening news if you have a bad credit score and it’s negatively impacting your life. If your credit score is less than favorable, you’re probably looking for ways that you can improve it. You may hear conflicting information in regards to the use of cash or credit to help boost your credit score. Credit cards are what got you in trouble in the first place. Now that you’re finally getting out of debt, it seems like a bad idea to put more purchases on the cards. Safe Credit Solutions is here to set the record straight! What is credit? Your payment history, credit usage, the number of credit accounts, type of accounts, credit age, and credit inquiries all determine your credit score. A complex algorithm is then used to determine your unique credit score, giving you a number anywhere from 300 to 850. If you have a large amount of debt on credit cards, your number goes down. If you make payments on the number every month, it goes up. How much can I put on credit cards? Using credit cards isn’t bad for your credit score. In fact, the opposite is true. Being awarded credit, putting a purchase on a card, and then paying it off actually raises your score. This is only going to raise your score if the third thing is done, each and every month. Too much of a good thing, buying items with your credit card, becomes a bad thing. In general, your lenders and creditors like to see a credit usage less than 30% of your credit limit. This shows responsibility and self-control. Does cash help? Any cash purchases you make don’t affect your credit score. That doesn’t mean it should be avoided. Depending on your personal situation, it might be better to operate with cash. For example, if you have high balances on...
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