Canceling a credit card is a simple process. You need to call the credit card company, and advise them that you would like to cancel your card. The credit card company will ask all sorts of questions, as to why you want to do this, and they’ll probably try to convince you to keep using…
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Collection agencies can be used in many ways by creditors in an attempt to collect debt on their behalf. One way is called is called 1st party collections. This is where a collection agency will be asked to collect money on behalf of a creditor, but you would never know this, as they will be…
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This is an interesting question as the word debtor rarely ever comes up in any conversation. You will hear this term more often than not, in collection agencies, when you are speaking to bill collectors. This is one way they can belittle you and make you feel like bad about your money situation, and basically not…
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The statute of limitation was put in place to protect people in cases where a debt has either been forgotten about, or it has now been discovered by a creditor after many years have gone by. In other words it seems like the court system doesn’t want to deal with old claims from many years ago,…
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Overdraft protection is just another product the bank offers, as a way for individual to pay off an expense that comes through, and they do not have enough money in their bank account to cover it. You may think this is really nice of the bank, but don’t kid yourself, it’s not free, it’s very…
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If you are a homeowner, and have debt, you might be concerned that your bank or credit card company can take your home away from you, and put your family on the street. Words like “power of sale” or “foreclosure” can seem scary. But this is Canada, and the financial crisis of 2008 in the…
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There are a few options available when trying to get a credit card when you have bad credit. Before you decide that this is a good alternative for you, always remember on anything you purchase you generally have up to 22 days or so to pay the balance off before the interest is tacked on.…
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I started in the collection industry as a bill collector in the early 90’s. Back then, the collection rules for bill collectors weren’t enforced as much as they are today so you would hear bill collectors say things like “We will send you to the debtor prison if you don’t pay your bill”, or we…
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This is a question we seem to get time and time again. A person’s credit score is important when you are in a financial position and have job security. Should you need to borrow money from your bank, a good credit score matters. You will also need to consider this, you can also have a great…
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