Owner: Only Best Deals URL:http://OnlyBestDeals.blogspot.com Join Date: Sun, 30 Sep 2007 18:51:40 -0500 Rating:0 Site Description: Only Best Deals talks about Answers for Credit Cards , Mortgages and Loans , Show You Step By Step How to do , How to Solve Plus The Most Frequently Asked Questions and their Answers too . Site statistics:Click here
What do I do with unused Credit Card accounts? 2007-09-30 18:20:00 What do I do with unused Credit Card
accounts?We have a few unused Credit Card accounts that will remain unused because of high interest rates. If we cancel them it will mess up our credit score. whay shoulds we do , just sit on them? The Answer : If you aren't paying any fees (annual or monthly) keep them and let them continue to help your scores.Just because they have a high rate of interest does not mean that you cannot use them. As long as you pay in full when you get the statement, the interest will not affect you.Use them for something minor that you would normally pay cash for (like - gas, a hamburger, etc) and set the cash aside until you get the statement.
Can anyone recommend a bank or credit union in indiana that doesn't verify through Chexsystems? 2007-09-30 18:14:00 Can anyone recommend a bank or credit
union in indiana that doesn't verify
through Chexsystems?I need to open an account for direct deposit and an ATM card but don't need checks. I got into some trouble with my checking account a couple of years ago when I was in the hospital and off work for 2 months and now I can't seem to get an account. The Answer : You might go to www.chexvictims.com It's a free discussion board for those who are on Chex.They have a great database of banks and credit unions that do not use Chex. They do a wonderful job in keeping the database updated and it is also free to use.
How do I get a "Free Credit Report" without going to the 3 sites on the web? 2007-09-30 10:16:00 How do I get a "Free Credit Report" without going to the 3 sites on the web?They aren't free and require sign-up or enrollment. What do people do without a computer and do these companies have a monopoly on credit reports?The Answer : http://www.annualcreditreport.comThis is the government mandated website where you can get 1 free credit report from the 3 credit bureaus for FREE. It will not ask for your credit card.
How does domain hosting work for sites that later become exceptionally popular? 2007-09-30 10:11:00 How does domain
hosting work for sites that later
become exceptionally popular
?Say popular sites that we all visit, Google, Yahoo, popular messageboards, other search engines. When these sites initially start out do they use some average hosting site like Go Daddy, etc?The Answer : You can start small and use shared hosting. If traffic becomes big, then you move to a dedicated server where only your site is in that box. Or you can buy your own box and host your site yourself if you are capable Most of the big companies, in anticipation of traffic and the fact that they have investors and venture capital funds to back them up, buy and maintain their own servers. They will use some third party services such as Akamai for load balancing, but most of the sites you mentioned are tech oriented sites so they already have techies on board who can maintain and create their own servers and not use services such as Go Daddy
Paying off a loan? 2007-09-30 04:40:00 Paying off a loan?So my question is, if you want to pay off a loan early, is there a certain amount of time you have to maintain a loan until it affects your credit rating, score. If you pay it off in one month or after 2 years, does it matter?The Answer : You need to have a payment history of 6 months. That will establish your credit line for that loan. Then pay it off.By doing this regularly, you quickly establish sever credit lines and the beginning of a credit history. I've recommended people take out a small loan (appliance, tv, whatever), make payments for 6 months, then pay it off. It will do wonders for your score.
Who do i contact to get financial advice? 2007-09-29 05:02:00 Who do i contact
to get financial advice?I have to get my financial situation in order in 1 and 1/2 years. i have really bad credit and i need to pay it off and be able to buy a home. who do i call to help me figure out exactly what i need to do to reach my short term goals?The Answer : It never fails to amaze me how folks can have the god given smarts to earn money but do not have the same smarts to manage it == ok to begin with i hope you income is greater than you our flow -- turn off the computer cause i am an old fart and i believe in knowing my banker by his first name and how many kids dogs etc--- list every one you owe money to including monthly expenses and utilities -- next on the list goes the monthly amount you should be budgeted for taxes insurance and other bills come out quarterly or ever six months -- once you have that in place you are ready to prepare a budget -- hopefully there will be something left over for food and transportation (if you have a car payment it is
How long does it take a creditor to start a wage garnishment? 2007-09-28 07:43:00 How long does it take a creditor to start a wage garnishment?My brother had a car loan ($10,000) that he couldnt pay on anymore and had it repo'd. After trying to work with them, they decided to cut it off and take further actions. He hasnt received any letters but the last call was a wage garnishment threat. I know they have to take him to court and get a judgement first. He wants to know since in CA they can take up to 25% of his wages - can he fight that lower??? and HOW LONG does it take from the start of the last phone call to actually going to court???He is not running from it, but wants to let his employer know ahead of time so they are not suprised and he also wants to lower his withholdings since he has other bills as well and needs to survive. The Answer : I'm not sure of the exact procedure in California...but in many states it goes like this:1) Plaintiff files lawsuit. You must be served and the court date is set. This can take 1-2 months depending on how efficient your c
Paying the next months bills? 2007-09-28 07:41:00 Paying the next months bills?Hello, since I won't be home for the next month, I am going to pay more for my bills all in one check (for this month and the next month). And I was wondering if I need to call every single company and let them know that I am paying more. Your help would be much appreciated. The Answer : It depends on what type of bill you are talking about.I agree 100% with imthepretty1's advice on credit cards. You are expected to make monthly payments if you have any balance on the card. Any money paid is simply applied to the current balance, but they will generate a new bill the next month. Fail to pay it and you are in all sorts of trouble.Car and/or mortgage payments are usually applied to the principal...but you can call and tell them to place it toward the next month's bill. Utilities are billed as they amount is occur, so by paying in advance you generate a credit balance. That will cover your future bills.
Paying off a loan? 2007-09-28 07:40:00 Paying off a loan?So my question is, if you want to pay off a loan early, is there a certain amount of time you have to maintain a loan until it affects your credit rating, score. If you pay it off in one month or after 2 years, does it matter? The Answer : You need to have a payment history of 6 months. That will establish your credit line for that loan. Then pay it off.By doing this regularly, you quickly establish sever credit lines and the beginning of a credit history. I've recommended people take out a small loan (appliance, tv, whatever), make payments for 6 months, then pay it off. It will do wonders for your score.
Debt Advice? 2007-09-28 07:38:00 Debt Advice?My boyfriend has bad debt, and cannot deal with the collection agencys abuse so we contacted American Credit Foundation http://www.debtguru.com/ which is a non profit credit counciling foundation that has agreed to make a payment plan so he can pay back the 2 creditors he owed. I figured this would give him a chance to build his credit back up. Will this hurt him? I ask because we received a call from Omni Credit Services today and they said that is equivalent to bankcrupty. His dad is telling him that if he claims bankruptcy he would still be able to purchase a house within a few years. Whos right, whats his best options. The Answer : Lots of poor, uneducated answers here!For starters, working with credit counseling is NOT the same as a consolidation loan. Credit counseling will hurt your credit, but not nearly as much as a bankruptcy.True, you could file for bankruptcy and qualify for a house in two years.....but that assumes that you are filing for a Chapter 7. If you ar
Identity theft issues - where to get financial advice? 2007-09-28 07:27:00 Identity theft
issues - where to get financial advice?Where do you go to get financial advice when you have a bad credit score as a result of identity theft? I plan to get a new car as well as a new house/condo in the next year or so, but creditors are quick to reject a bad score, even though I pay my bills on time and I make good money (single, no dependants)The theft issue is in the process of resolution with appropriate institutions, but creditors don't know that. Do you communicate to creditors themselves or do you get a lawyer? a financial advisor? Not sure what the next steps are! The Answer : I've been down this road myself, and help people with these questions. Drop me an email if you still need questions answered.I'm confused by your question. when you want to communicate "to creditors themselves" do you mean you want the lenders who turned you down to know your credit was repaired?Or are these the creditors listing bad information on your credit history?Identity theft
is a
Do you need a real estate license to manage property in California? 2007-09-21 19:31:00 Do you need a real estate license to manage property
in California
?If yes, please cite the law or code. Thanks!The Answer : Well, you can manage a property without a license, but you if you want to get paid for doing it, you need a license.California Business & Professions Code 10130http://www.dre.ca.gov/relaw_pdf/Relaw.pd...
Can bank reposses the house even if name on mortgage is different from the name on a deed? 2007-09-21 19:24:00 Can bank reposses the house even if name on mortgage is different
from the name on a deed?I've Transffered a deed to my friend. But mortgage is still on my name. Friend making payments to my loan. What if he stops making payments. Is Bank has a right to reposses a house even if I don't own it?The Answer : Absolutely. If the mortgage wasn't paid off when you transferred title to your friend, then your friend got title subject to that mortgage, and the lender can absolutely foreclose if it's defaulted on. In fact, most mortgages have a "due on sale" clause to prohibit people from assuming their loans, so your lender could likely call the mortgage due and/or foreclose whether or not your friend makes the payments. From the perspective of a borrower, it's not such a good idea to do what you did. Your credit can be tarnished by the late payments of your friend, because you're still liable for the mortgage!
How can a person get negative items removed from his or her credit report? 2007-09-21 10:38:00 How can a person
get negative items removed
from his or her creditreport
?The Answer : There are only two ways to get negative items removed from your credit report.1) The creditor must remove them2) The creditor fails to respond to a dispute investigation from the credit bureauSo see the link below, file a dispute, and hope that the creditor ignores it.
I have $60k in credit card debt @ 8.99% ave apr, should i refi or home loan to get out of debt faster? 2007-09-21 10:36:00 I have $60k in credit
card debt @ 8.99% ave apr, should i refi or home loan to get out of debt faster?we pay about 1500/month toward 6 cards but only pay a little above minimum for each. some cards have 3.99% or less intro rates. getting conflicting answers from brokers and family. any suggestions?we pay about 1500/month toward 6 cards but only pay a little above minimum for each. some cards have 3.99% or less intro rates. getting conflicting answers from brokers and family. amortization tables show payoffs within 4-5 yrs for either home loans or paying $1500/month to cc. any suggestions which is better option? home loan with bank fees but tax break or no tax break with cards but no other start up fees.The Answer : Let me guess....Over the past years you have been getting credit cards and rolling the balances over to them. Then you run up the other cards, get another card and roll over.....Am I close?Now you are looking at a home equity loan or a complete refinance. I'm not preaching
How long does it take for charged off accounts and credit card debts to be taken off of a credit report? in? 2007-09-20 17:37:00 How long does it take for charged off accounts and credit
card debts to be taken off of a credit report
? in?WASHINGTON STATE.i really need to to finish school , but in order to do that i need to take out a private loan, because federal loans aren't enough, but my bad credit doesn't allow it...please help!The Answer : Once again, everybody gets this answer wrong (except for Spiff, of course).Just one of the problems here with Yahoo.....people can't take two minutes to research their answers. What really makes it sad....I've only posted this answer dozens of times. Go on...take a look at my answers! Amazing, isn't it? OK, once again...everybody open your books to the Fair Credit Reporting Act (see below). The reporting time for negative information on your credit report is 7 years, starting from the date of the delinquency.It makes no difference if it's paid off. If it's on longer then that, it's because the collection agency illegally re-aged the debt by reporting a fake delinqu
Debt Validation? 2007-09-20 17:31:00 Debt Validation
?Long story short, I lost everything and moved to another state, including most of my paperwork. I'm getting back on my feet now, and trying to repair my credit.I would like to request validation from my debtors, but haven't been in contact with them for over a year, I had to pull their address from my credit report...can I just randomly send them a request for validation? Or do they have to contact me first?My real concern is that I rec'd a letter from one debtor saying I have 30 days to dispute or it is legally validated. What if my other debtor sent me the same letter? They are saying I owe 5k more than I really owe. Are they just BSing about it being legally valid if I didn't dispute? and I have been reading the FDCPA...I am just having a hard time finding what the debtors rights are.The Answer : Okey , you read the FDCA so that will help in answering your questions.That 30 day letter is a formality that they must send by law. If you do not respond, it is NOT a
What are the new rules for filing bankruptcy and does filing eliminate all debt? 2007-09-19 18:02:00 What are the new rules for filing bankruptcy
and does filing eliminate all debt?The Answer : I do not agree with Marie's advice.If you are currently working and have some income, you probably will not qualify for chapter 7 anyway, and you could end up losing your home, auto, or other property. You need to discuss your options with a bankruptcy attorney. Only after examining your situation can any recommendation be made. As for the new rules, you must meat a "means" test to see if you qualify. If it's determined that you make too much money, and your dept ratio is not that high, you will not be allowed to file.The filing fees are a lot higher.You now have to complete budget management course (on your own dime). If you can't afford to consult an attorney then do some research on the net. I'm not sure how much info is available on the new rules yet though.Good luck, I've been there.
Whats up with the feds, mandateing a 3% increase on old credit card debt.? 2007-09-19 17:52:00 Whats up with the feds, mandateing a 3% increase on old credit
card debt.?And when did it come into effect?.And is anyone haveing problems makeing the their min, payments?And is it effecting your credit rateing?.Im turely hopeing that that you or someone you know has some imput for us!.The over worked and under paid americans. that feel like we'er being punished for ever investing in the promise of graet things to come out of appelying for a card at all.Aswell as doing everything posible to increase their credit rateing!The Answer : Want an answer? Take one look at the number of personal bankruptcy cases file this year. Consumers are falling into a serious trap when they play around with credit. It starts with them making minimum payments. Then they get a second credit card and transfer the balance, only to run up the balance again on the first card. Then it's off to re-finance their homes. I've seen this over and over again!So the government is now forced to step in. Be lucky this
Does anybody know where to go for legal counsel regarding unfair credit reporting in NJ? 2007-09-18 10:07:00 Does anybody know where to go for legal
counsel regarding unfaircredit
reporting in NJ? I have been fighting BOA since 2005. I have all the documents sent to them so they can correct the adverse account entry on my credit report and they still give me the run-around. I tried writing to the credit bureaus too but all they told me was to write to BOA. I am tired of this game they are playing maybe it's time I sue them? The Answer : If you have well documented proof that:-you did pay the bill-you did notify them of the error-you did dispute this with the credit bureau...then by all means sue them. There is a very specific procedure you need to follow, but if you do it you have a very easy small claims lawsuit, and you will win $1000 for your trouble (plus legal fees).If you don't want to fight this yourself...look in the phone book for a lawyer that specializes in collections. Sure, they work for collection agencies, but these slimeballs will also eat their young, and will take your ca
Can a creditor sue you a month before the statue of limitation runs out? 2007-09-18 10:05:00 Can a creditor sue you a month before the statue of limitation runs out?I'm being sue from a creditor 1 month before the statue runs out is this possible. The Answer : Keep in mind that collection agents are notorious for not having a clue of the exact SOL date. You many need to research your state's laws a bit. If a lawsuit has already been filed, you may want to request a "discovery" and get all of the paperwork involved on your debt. You mainly want to see the last bill, the payment demand letter, and any docs to show when you last made a payment or charge to the account.Many times collection agents use the date that the account was charged off, or when they actually got the account. This will "pad" your SOL a few months, so it's possible you are actually over the date already and can use that as your defense.
Credit card Question...? 2007-09-18 10:00:00 Credit card Question
...?First off I don't use my credit card hardly at all. I am planning to go to Hawaii this summer and I was going to get a new credit card with 0% APR for the first 12 months. If I don't pay it off by next year, should I transfer the balance to another 0% credit card? Is this bad for your credit in any way? Is there a better way to go about this? The Answer : I like to call it "Credit Card Roulette"....eventually it will come back and hurt you.What many people do is get a new card, transfer the balance, then run up the first card all over again. Now they are in twice the amount of debt. Eventually the will file for bankruptcy.IF you have good self control, this isn't a bad idea. But over the long run it will start to hurt your credit.
How do I get an erroneous California State Tax Lien removed from my credit report? 2007-09-18 09:55:00 How do I get an erroneous CaliforniaState
Tax Lien removed
from my creditreport
?I have a tax lien on my credit reports - again - some 12 years after CA put it on, even though I didn't owe taxes (OK, I filed late without an extension...my fault...). I have had it removed three times over the years, but checked my Credit report not long ago and there it was again. Each time I've needed to send in the proof document from the state (they've provided it to me back in 1995) and send it to the three credit bureaus...and it will come off for a bit, but ends up back on again - screwing up my credit scores.Is there a reliable way to keep this from continuing to happen? Does anyone know? Anyone every cracked to code on the California Franchise tax board's reporting mess?Thanks.Steve in Seattle. I should ephasize: This is NOT a PAID tax lien - it's a tax lien that was removed by the State of California since I no longer owed the taxes. The document I have is dated 1995. I will contact CA St
I am looking for grant money for college and every site I visit says I have to pay? 2007-09-18 09:18:00 I am looking for grant money for college and every
site I visit
says I have to pay?All the ones I have visited tell me I have to pay to get info on this? Is this the case....do I have to pay to get info on applying for a college grant? I'm tired of paying for school out of pocket LOL as I am sure everyone is.....so I am new to this. ANy info appreciated I am at this site now and it says I can apply for a free cd, but pay 1.97 s/h and if I dont' cancel in 30 days I will be charged 29.95 a month there afterThe Answer : Dont pay for the information if you are looking for government grant moneyCheck out Federal Student Aid Web Site or FAFSA http://www.fafsa.ed.gov/ I suggest you explore all federal funding and grant options at the Federal Student Aid website http://federalstudentaid.ed.gov/... You may also want to read the Handbook of the Pell Grant -- this is an 86 page document that contains everything about the granthttp://ifap.ed.gov/sfahandbooks/attachme...Or you can call the Federa
Is paying off defaulted loans that aren't on my credit report going to help my credit score? 2007-10-04 15:29:00 Is paying off defaulted loans that aren't on my creditreport
going to help my credit score?I owe $9,000 in student loans. They just started garnishing my wages for $500/month. The loans were from 1998 and do not appear on my credit report. The collection company told me that once they're paid off that they will appear as not in default on my credit.Answer : If they are garnishing your wages, that means they have gone to court and received a judgment. Those are public records and will eventually get placed on your credit report.Paying the debt off will not get a judgment removed form your reports, but it will show it was paid off. The effect to your score will be minor.....judgments hurt your score badly for a few years, whether paid off or not.
How long does it take inquires to get off my credit report? 2007-10-04 15:22:00 How long does it take inquires to get off my creditreport
?I just filed bankruptcy and am having a awful time trying to get a card to help rebuild my credit. I have now decided to go w/ a secured credit card that my bank will help me w/...but i know from working in the credit card industry that inquires will take your score down...how long do they stay on there ....Answer : Unless you have a lot of inquiries on your report, I wouldn't worry about it. Your credit is going to be terrible for at least 2 years, and that's how long inquiries stay on your report.There is a site called http://www.lifeafterbankruptcy.com that has a lot of information about repairing your credit. He has a lot of newsletters and other information. Just note that he also has stuff he's trying to sell. But unlike a lot of sites people post here, this site does have tons of very good, free info.This is not spam...I just like to point out good information. I have nothing to do with this, or any other site that I
How badly does debt consolidation affect a person's credit ? 2007-10-04 07:06:00 How badly does debt consolidation affect a person
's credit
?Answer : My experience is that it doesn't effect it very much. The way the darn credit scores are calculated, it may even help it out. Just a word of advice. If you do consolidate your depts get rid of your credit cards. Too many people end up adding more debt to those cards and end up bankrupt.
A hospital did some tests on my son and i never recieved the bill.i find my son,s credit spoiled.how to fix it 2007-10-03 19:58:00 A hospital
did some tests
on my son and i never recieved the bill.i find my son,s credit
spoiled.how to fix itthe bill was sent to insurance which did not pay.i had moved and they claimed they sent me notices which i or my son never recieved.Answer : How old is your son? If he's under 18 why are they billing him? If this is the only negative hit on his credit report, I would suggest you contact the hospital (don't mess with the collection agencies) and work out a payment plan. But ONLY if they agree to remove any mention of the debt from the credit report. Otherwise, what's the point in paying the bill?
Getting Rich Is Contagious -- So Catch the Bug 2007-10-03 09:07:00 Getting Rich Is Contagious
-- So Catch
the BugOne of the summer's biggest stories carried the headline "Weight Gain Is Contagious!" Sensational? Sure, but based on some pretty good science.The report, originally published in the New England Journal of Medicine, emerged from a landmark study that has followed a social network of more than 12,000 people since 1971. The researchers have enough data to know which subjects are friends, neighbors, relatives or co-workers.That's how they were able to see that when one person packs on or takes off the pounds, his or her close associates - whether they live around the corner or on the opposite coast - are likely to do the same.The link makes a lot of sense, says Karen Miller-Kovach, the chief scientist at Weight Watchers."Social networks determine social norms and social behavior," she says. "What's acceptable, what's not acceptable. I expect we'll see a lot of parallels in other fields."Money among them. Academics and other researchers wh
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