Ask The Money Coach

Posts Tagged ‘Creditor’

If you had asked me before today if you could get get locked up for having outstanding credit card bills, I would have said: Absolutely not. After all, debtors’ prisons in the United States were abolished in the middle of the19th century. Unfortunately, however, a frightening and little-known occurrence is taking place in cities all across America: People are, in fact, being put in jail simply because they can’t afford to pay their creditors.

This chilling article in the Minneapolis Star Tribune details how common the practice is in various parts of Minnesota, and how it’s also taking place throughout the rest of the country, too. For the most part, those getting thrown in jail for being in debt have two things in common: First, they obviously didn’t pay their creditors as agreed. Equally important, though, they failed to show up at court hearings about their debts, which resulted in debtor warrants being issued for their arrest.

If you’re being hounded by debt collectors, read my article ‘5 Tips if You’re Facing Court Action from a Debt Collector,’ as well as another piece I wrote called ‘Why You Should Answer a Summons on Debt Collection.’

Read the rest of Lynnette’s article on BlackVoices.

Related articles

• 3 things you should never say to a debt collector (askthemoneycoach.com)
• Consumer Legal Resources to Fight and Beat Debt Collectors (smarterotti.com)

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There comes a point in most people’s lives when they slip up with their credit cards. Maybe you forgot to pay a bill on time and got hit with a late fee. Or perhaps you fell on hard times, and got several months behind on your debts. What should you do when you want to re-establish your good name, pay off debts, and improve your credit standing? Chances are, you’ll have to negotiate with your creditors. Negotiating with institutions you owe is more art than science. But there are some proven negotiation strategies and techniques you must know in order to save yourself hundreds, if not thousands, of dollars.

In this session you’ll learn:

• What re-aging is, its benefits, and how to get a creditor to re-age your account

• How to legally buy time paying a bill or possibly even eliminate the need to pay the debt

• How to avoid over-the-limit fees or have them eliminated

• How to get interest rates lowered

• How to get late fees waived and late payments removed from your credit file

• What requests to make over the phone and when to send letters to your creditors

• Why it may be smart to get the due date on your credit card changed and how to do it

• The 5 times you should ALWAYS pick up the phone and call your credit card company

• How to protect your credit rating when you don’t pay a bill and MORE!

Length 60 minutes
Format MP3
Lynnette Khalfani-Cox, The Money Coach
Download now for just $5.99

Related Questions:

• negotiate over the limit fee
• negotiating with creditors auto

There comes a point in most people’s lives when they slip up with their credit cards. Maybe you forgot to pay a bill on time and got hit with a late fee. Or perhaps you fell on hard times, and got several months behind on your debts. What should you do when you want to re-establish your good name, pay off debts, and improve your credit standing? Chances are, you’ll have to negotiate with your creditors. Negotiating with institutions you owe is more art than science. But there are some proven negotiation strategies and techniques you must know in order to save yourself hundreds, if not thousands, of dollars.

In this session you’ll learn:

• What re-aging is, its benefits, and how to get a creditor to re-age your account
• How and when to ask a credit card company to un-rate your account
• How to legally buy time paying a bill or possibly even eliminate the need to pay the debt
• How to avoid over-the-limit fees or have them eliminated
• How to get interest rates lowered
• How to get late fees waived and late payments removed from your credit file
• What requests to make over the phone and when to send letters to your creditors
• Why it may be smart to get the due date on your credit card changed and how to do it
• The 5 times you should ALWAYS pick up the phone and call your credit card company
• How to protect your credit rating when you don’t pay a bill and MORE!

Length 60 minutes
Download Now for $5.99

Related Questions:

• how to get a credit card company to re-age your account
• how to negotiate waiving of late payment charges