I had something similar happen

I had a bank account get tapped for a judgment that I hadn’t finished paying off yet. Unfortunately,the account had no money in it,so it took me into overdraft,then overdraft fees were applied and you know how the snowball affect keeps banks making money…Needless to say,when I contacted the bank,they had no information as to who the debt was from.They had an out of service number but luckily,since this was the only judgment I had ever had against me, I was able to find the paperwork,call the company and work out a payment plan to get the remaining balance paid.

Now my fight is with bank of America because I was never notified that this was going to be taken out of a savings account that I had set up and they are now trying to take me to collections for the $269.83 of charges that occurred because of this judgment.What legal right so I have to fight the bank with?What can be done to keep this debt from money I never spent from going to collections? Big banks suck!!!Keep your money in a credit union or under your mattress.


Re: I had a debtor call me at work

They need to get a court order against you first and of course you must be served, given a chance to respond and then appear in court. A court order must be granted before they can legally collect on any judgment.

I’m not sure but I also thought it was illegal for collectors to make such accusations. Not sure.

But I AM SURE you should get money loan online at ErgLoans to afford better and more expensive attorney.


I had a debtor call me at work

Said that garnishment payments were to be taking out of my paycheck starting November 14, 2015. This ia a debt that is at least 7 years old. Can they garnish my pay without notifying me first? I have not heard anything about a court order against me or have not had to appear in court. What are my legal rights.

Desperate.


I might be way off base here

But after reading this, it occurred to me… When my husband could not take time off work to go the the license bureau to renew his license plates for his vehicle, I would always take a “Power of Attorney” form with me which he had filled out, designating me with the authority to perform this ‘legal’ task. Would that work in this case? Anyone??

I found a copy of such a form for printing… they are specific to each state as well…look it over!

It’s always good to have power of attorney over your spouse incase something happens. Alan got sick after being married only 4 days, the legal hassle in getting the power of attorney done was a nightmare. Every married couple should have poa over each other (unless you’re having problems) I finally got POA over everything and I carry a copy of it in my purse at all times.

P.S. He had a brain infection so he wasn’t able to express his wishes


I am in debt as well

I am in debt as well, got maried to a man with no debt at all/ no credit at all. But I feel obligated to him, myself and my marriage to clean up my credit before we try to buy a house. I will be married a year December 19, 2015. Try sitting down with him at night a draft a letter to all of your creditors and setting up a payment plan.

Or wait until you are married, then go together to a credit counselor or your bank and do a bank consolidation loan. My husband, decided he would pay all the bills for as long as it takes for me to clear up my credit. Luckily, we dont have carpayments or children young enough where we have to worry about daycare.


I am just new on here

Hi my name is Nikkie… I am just new on here and looking for some advice on paying off me and my fiance’s debts… both of us are in pretty bad shape financially. Any advice would be great. We are actually getting married in 9 months so then everything will be a little easier. We have a lot of small debts that I have even attempted to take care of and because they are in his name no one wants to talk to me. He works Monday thri Friday and most of these places arent’ open after he gets home.

What a mess… you really start to feel hopeless!!

Well I will write more later when I have a little more free time!


7 year clock

I am confused or missed a few emails – do you mean that once any action is taken on an account it goes another 7 years on your credit??
So if I am good and pay off an account it actually hurts me by showing up longer?

I am finding several things I thought I was doing right and has hurt me big time on my credit. I had several items through Consumer Credit Counseling and when I came into some money I went ahead and settled so I could pay off all the accounts. Wrong thing to do – now it shows settled for less or some just show adverse comments. So frustrating.

Settling looks bad on your credit report. I know, I did it.


Thanks for the welcome!

I just bought a new notebook to start keeping track of where my money goes. I am also ordering my credit reports from the 3 Credit reporting companies to see what is on there and figure out how to go about paying them off, but i am a little leary about paying them off after hearing that they will reappear on my credit report for another 7 years. I want to wipe the slate clean and start over and try and rebuild the credit that i destroyed in my young and stupid years.


Paying only the minimum

I didn’t know that paying only the minimum had the effect of labeling and placing you in that specific category. (ie.. nonpayment, minimum paid, paid over minimum) Thanks for the info.

I am still learning from everyone here but wanted to welcome you! Hope you get the help you need here! I talked to a morgtage lender the other day and he said to just pay the minumum on my credit cards to get my points up to buy a house. I think he is wrong.

You will probably get this some response from numerous members but if you are serious about getting out of debt, you have to know where your money is going. I would love to tell you there is some magical way to instantly get this info but I’m afraid it all boils down to good ol’ hard work. Get out a notebook and track every penny you spend for at least 1 month. Then, compose a budget and stick to it. It won’t be perfect the 1st time but by continually tweaking the process you will eventually be able to set up a really tight budget and will have a good handle on your spending habits. Sounds very simplistic but many people (self included) in this group will tell you to start with this process. Hope that helps


I have a couple questions

Hi i’m Ashley i am new to the group and have a couple questions. i am 37, separated with one son,and have about $10000 in debt to pay off and was wondering how you go about getting a copy of your credit report. i just applied for a car loan and was turned down because from what i gather my credit is less than steller. Also, once i see what is on the report where do i go from there to settle up on these debts? As you can tell, i know nothing about personal finance and don’t know where to start to dig myself out of the hole.

Also can anyone suggest a good book on handling my finances? i have Dave Ramsey’s book on order from the library, but i am looking for a “Dummies” book on how to handle my money and save some of it! Any help you can give me will be greatly appreciated. i feel so stupid when it comes to money, it’s pathetic!


We are trying to buy a house

I’ have been going through the same thing and we are trying to buy a house. There are two judgements on our – one saying satisfied but when I called the county to find out why there ws a judgement they did not even have a record of it and the company couldn’t even verify records!

Another one has just popped up saying “unable to locate but it’s with Capital One and we paid them off three years ago!


I’m having some trouble with my credit report

I got it from all three companies, and there are surprisingly low errors. I sent in to fix the ones that were there, but I’m not sure what to do about the debt that is on my credit report. There are a few things that I no longer recv communication from the companies, but it is on my credit report and they are not paid. Which debt is most important to get off first? And does anyone have any ideas about the best way to contact the companies (with least hassle) if I no longer have my account numbers? Thank you.

Kim


It completely changed my outlook on my personal finances

Ever since I listened to the audio-book version of Robert Kyosaki’s (sp) “Rich Dad, Poor Dad,” it completely changed my outlook on my personal finances (and life, for that matter). I highly recommend you check it out.

Anyways, I used to be very much an impulse-buyer… someone who rationalized spending beyond my limits, convincing myself that I could afford my astronomical debt load (playing the “payments” game and measuring my take-home pay against my balance due).

But his book changed my spending habits. Remember the end of the first matrix movie, when Neo finally sees rather than images, a series of green 0’s and 1’s? I learned to change my perspective on things, and I am in a much better spot now.

One tip – get a Barclaycard credit card if you can (CUT IT UP after you receive it!). I suggest this because they offer you free monthly FICO score updates from Transunion (via their secure account access website). No catch, just log in as you would any other online banking. By observing my FICO on a monthly basis, I’ve seen it jump from 629 to 656. Not great, but I can see how managing my money better can have real results.

I still am living paycheck-to-paycheck, spending money at times I shouldn’t, but I feel I’m under much more control now. All my credit cards are cut up now and it was painful for the first 4-6 weeks without them, but it’s such a release now, to finally see those balances go down.

One other tip – when paying your CC bills, ALWAYS pay over the minimum. I know this is probably a dead horse, but even if you adopt a strategy of paying the min. on all but one (i.e. “monster” payments), just pay the others $1 over the minimum. Credit card companies track this – each month you fall into 1 of 3 categories: 1) no payment due, 2) paid minimum, 3) paid over minimum (if you get a Barclaycard card you’ll see what I mean). I’ve tested it and even $1 over registers you in the better category.


I would really suggest that you make up a written budget

I would really suggest that you make up a written budget. It made a difference for us to both be on the same budget at the same time.

I cleaned out the hall closet and tossed a bunch of stuff. I am nearly done cleaning the desk area which is where I do my online stuff and my couponing. Sigh…… it’s tiring but needs to be done as there is another big coupon sale coming up and I need to be ready.

🙂

Anyone else out there?


Re: Anyone having any successes they want to share?

Hi Alex,

It is nice to hear from someone from this group. I’m a newbie and am surprised by how quiet it is. Good for you on sticking to budget and getting some garage cleaning done. Garage sales are FUN!

I don’t really have a budget yet but I didn’t spend a penny all weekend long so I think that is good. I’m going to try to spend as little (or none) as possible all week. We’ll see how that goes. I sure am wanting a gingerbread latte from Starbucks! Ugh!


Anyone having any successes they want to share?

We stayed on track and on budget for the past two weeks so that was a good thing.

I am on vacation this week and am “fall” cleaning the house. Trying to purge and get ready for a great garage sale. I live in Texas so a winter garage sale is very feasible. 🙂

I hope everyone is doing well!