Credit Card Debt? If You Ignore the Creditor, Do Not Ignore the Summons
News from Patch.com:

Summons: I define it as a court document that brings you under the jurisdiction of a court of competent jurisdiction.

It starts a lawsuit. It gives a judge jurisdiction over you. If you ignore it for too long, the judge won’t call you like those pesky creditors; he or she will have you placed in custody.

In these tough economic times, a significant percentage of people have to choose whether to pay their mortgage over their credit card bills, or their car payment over an invoice.

If you do not pay a creditor for long enough, you start to receive those pesky calls early in the morning, late at night and sometimes at work. They threaten you with lawsuits and sometimes are just plain rude.

A few people I know learn to recognize the creditors’ phone numbers and ignore them. They throw away the mail. They may go months or even years with a bill not being paid and hope that the creditor will simply charge off the debt, ruin their credit,…………… continues on Patch.com

… Read the full article
.

Related News:

Duped by Son, Mom Stuck With $ 20000 Debt
News from Fox Business:

Dear To Her Credit,

I am an investigator for a non profit organization that investigates financial crimes against the elderly. I’ve been working with a 76-year-old woman who was financially abused by her son.

Her son asked her to co-sign on two credit cards and for a Toyota truck, which she did. She believed he would honor his word and pay the bills. (She had no idea he had over 130 civil actions against him in San Mateo County alone, his home was recently foreclosed on, and he has liens and judgments levied against him in the millions!) He charged up the credit cards plus one more he opened without her knowledge, and then he declared bankruptcy,leaving her with the debts.

My client was left with a $ 15,000 debt from the two co-signed credit cards, an $ 11,000 bill from Toyota, and a $ 5,000 balance on the fraudule…………… continues on Fox Business
… Read the full article


Credit Card Debt? If You Ignore the Creditor, Do Not Ignore the Summons
News from Patch.com:

Summons: I define it as a court document that brings you under the jurisdiction of a court of competent jurisdiction.

It starts a lawsuit. It gives a judge jurisdiction over you. If you ignore it for too long, the judge won’t call you like those pesky creditors; he or she will have you placed in custody.

In these tough economic times, a significant percentage of people have to choose whether to pay their mortgage over their credit card bills, or their car payment over an invoice.

If you do not pay a creditor for long enough, you start to receive those pesky calls early in the morning, late at night and sometimes at work. They threaten you with lawsuits and sometimes are just plain rude.

A few people I know learn to recognize the creditors’ phone numbers and ignore them. They throw away the mail. They may go months or even years with a bill not being paid and hope that the creditor will simply charge off the debt, ruin their credit,…………… continues on Patch.com

… Read the full article
.

Related News:

Duped by Son, Mom Stuck With $ 20000 Debt
News from Fox Business:

Dear To Her Credit,

I am an investigator for a non profit organization that investigates financial crimes against the elderly. I’ve been working with a 76-year-old woman who was financially abused by her son.

Her son asked her to co-sign on two credit cards and for a Toyota truck, which she did. She believed he would honor his word and pay the bills. (She had no idea he had over 130 civil actions against him in San Mateo County alone, his home was recently foreclosed on, and he has liens and judgments levied against him in the millions!) He charged up the credit cards plus one more he opened without her knowledge, and then he declared bankruptcy,leaving her with the debts.

My client was left with a $ 15,000 debt from the two co-signed credit cards, an $ 11,000 bill from Toyota, and a $ 5,000 balance on the fraudule…………… continues on Fox Business
… Read the full article


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How Many Credit Cards Should You Have?

Posted by administrator | 18/07/11 | Tagged Credit Card

How Many Credit Cards Should You Have?
News from San Francisco Chronicle:

If you’ve ever spent your way into a massive pile of credit card debt, the answer might be “none!” But for everyone else, the answer probably doesn’t come as easily.

TUTORIAL: Types Of Credit Cards

According to the Federal Reserve Bank of Boston’s 2009 Survey of Consumer Payment Choice (published April 7, 2011), 72.2% of consumers have a credit card. The average consumer who uses payment cards (a category that includes credit cards, debit cards and prepaid cards) has an average of 3.7 credit cards. Let’s examine why you might want your own behavior to match these statistics, if it doesn’t already.

Multiple Credit Cards and Your Credit Score
Your
… Read the full article
.

Related News:

Credit Card Rewards Help pay for Summer Getaways
News from Fox Business:

It may not have been as tough as 2009 or 2010, but this year hasn’t been easy for all too many Americans. So it was good to hear last Thursday that 62% of respondents to a survey of holders of rewards credit cards said that they plan to get away this summer, presumably leaving only 38% who expect to have a “staycation” at home, or who perhaps are on “permanent vacation” due to lack of employment.

Credit card rewards useful

The research, which was commissioned by Capital One, also found that 40% of those interviewed expected to redeem cre…………… continues on Fox Business
… Read the full article


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