Debt

In general, it is better for your credit to pay off the complete amount of debt you owe. A “paid in whole” account on your credit report indicates to potential lenders that you have met your commitments as agreed and paid the creditor the full amount owing. When accounts are closed in good standing, they […]

According to the lawsuit, Freedom Debt Relief defrauded customers by offering to settle their debts but failing to do so. More charges from the complaint are as follows: The company claimed to deal with creditors, however the service required the consumer to settle their own obligations. It misleads clients about the costs it charges. Consumers

A: You can take money out of your Roth IRA to pay off debt. However, taking money set aside for retirement is rarely a wise decision. Because you’ve previously paid taxes on the money, IRS laws allow you to withdraw contributions from a Roth IRA without incurring a penalty. Can an IRA be used to

When a consumer leaves Freedom’s debt-relief program, he or she is apparently not notified that they have the right to access the funds in their accounts. “While Freedom’s Debt Resolution Agreement said that customers could withdraw from the program and terminate the contract, it did not state that if they did, they would get all

Student loans, car loans, mortgages, credit cards, and personal loans are all examples of debts that can be paid off using life insurance. If you have any of these debts, your policy should provide you with enough coverage to pay them off completely. To cover your debts, you’ll need at least $204,000 in your policy

When you can’t pay your debt, most creditors go through a similar process to try to persuade you to pay. Selling your debt to a third-party collection agency is one of the tactics at their disposal. When a collection agency buys a debt in full, the debtor is normally notified by phone or in writing

Many clients who have entered into a contract with a debt settlement company come to us looking to file bankruptcy. Many people believe that by signing up with a debt settlement firm, they will be able to get out of debt with little or no affect on their credit score. Many people believe that debt

You are not accountable for the majority of your spouse’s debts accrued prior to marriage if you live in a community property state. The IRS, on the other hand, states that debt incurred after the wedding is automatically shared. Even if your spouse opens a credit card in their name exclusively, you may still be

Individual accounts might be removed from your debt management plan. To do so, contact customer service and submit a request. Removing a credit card account from a debt management program has similar repercussions to canceling it, however they may not be as severe. Credit counselors advise you to enroll all of your credit cards in

Protections against private debtors and collectors are not included in the most recent stimulus act. If you owe money on a credit card, your stimulus payments may be garnished. It’s crucial to note that this does not imply that the check or deposit can be intercepted by your credit card company. Simply said, if you