Using Debit Cards When On A Budget (2)

Credit UnionLogin to Online Banking to securely apply online for a Credit Card, Auto Loan, Auto Refinance Loan or Personal Loan. Make them identify themselves and the details of the debt they are collecting; dollar amounts and the date the collection became active on your credit report (AKA First date of delinquency: The legal term for the first day a debt goes on your credit report). Agencies will sometimes re-age” the debt, (reporting the debt to the credit bureau as if it’s new). They might promise to wipe off the red checkmark” on a credit report, of sometimes do a bait and switch” where they tack on the balance of a zombie debt to a new credit card offer.

If you don’t pay this, we will take you to court!” With most modest credit card debts it is just not economically feasible to hire attorneys to go after the payees. If you’re just getting by, and living paycheck to paycheck, your bank fees can really add up, and make surviving all the more difficult. You may also have to pay the bank if you decide to open and account, but close it a short time later. Ethically, the bank should have cashed these checks in the order they were written, and in the order they were cashed.

Because community-based banks and credit unions typically make a point of getting to know their customers, it may be easier to reverse an overdraft charge if one appears on your statement. Some institutions, my credit union included, do not immediately subtract a bill in process from your account balance. I never realized just how easily a joint account can get you in trouble, until I read an article written by a former bank employee. Unfortunately our nice little community bank has been stalled up by bigger and bugger fish and is now Wells Fargo.

Believe it or not, to get approved for a mortgage, car loan or any other type of financing, all you need, assuming you have the income to make the payments and employment and stable housing, is a credit score of 620 or higher, or in some cases 650. A credit score of 750 will pretty much guarantee that you are approved for whatever you are attempting to finance, and it doesn’t take very long to achieve this kind of number. The law allows for two instances where a person can obtain a totally free credit report.

So, you’ve seen the commercials on TV and had that annoying band singer tell you how he didn’t check his new wife’s credit and they were forced to live in his in-law’s basement or wear pirate hats while they played, but the question is, can you really get a free copy of your credit report. A) Once per year no matter what and B) When they have been turned down for financing, based up what was on their credit report, assuming they file the request within the allotted period of time.

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