Credit and Debt Blog

(Gary from Indiana) Is there a maximum time limit a creditor can attempt to collect a debt? [Read more →]

(Mark from New York) Can you help me with my car payments?

Dear Mark,

Credit counseling can help you find solutions for paying all of your bills. Sometimes a debt management program can be very beneficial for handling all of your unsecured debt, such as credit cards and personal loans. While this program does not allow for secured vehicle loans, it might save you enough on monthly payments to make it easier to make your regular car payments.

That being said, I will caution you about firms that claim to be able to help you avoid repossession for a fee. These firms frequently do nothing to help. Furthermore, even when they do negotiate a workout arrangement, it is normally something you could have done on your own without paying their fee.

It might be useful to see what types of workout arrangements are possible. That should provide some help for you to make your car payments.

[Mike from California] Does a car dealer have to provide you with the lowest interest rate? [Read more →]

(Ben from California): Hi, I have an account that was charged-off in 1990 and that still appears in my credit report. I can easily dispute this item and remove it since it became delinquent 21 years ago. However, this account happens to be my oldest one as well. My next oldest account is from 2005, only 6 years old.

The question is this: Should I go ahead and remove this item from my credit report? Or should I keep it because it provides for a longer credit history and therefore outweighs its negative effect? [Read more →]

(Michelle from Georgia) how long do you have to collect your things from the home being foreclosed on once its actioned off? [Read more →]

(Deanne from Wisconsin) Do you offer credit counseling services relating to payday loans? [Read more →]

(Sarah from Georgia) Can A home be moved from property before foreclourse? [Read more →]

(j from Pennsylvania) Can a lender request my irs 1040 form? [Read more →]

(Andy from New York) Last year I tried to initiate phone service with a major company. They were entirely incompetent to the extent that they never even managed to install the line. I never made or received a call. I never signed a contract, and never received a bill from them.

I have just learned that they marked a “charge off” on my credit report for $350. I plan to contact them to see if it can simply be removed, but do not trust them. If they refuse, what is my next step? Do I have grounds for a lawsuit?

Many thanks,

Andy

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(Q from Missouri) What is a no charge repossession? [Read more →]