DEBT COLLECTORS HARASSING YOU HOW TO MAKE THEM STOP!

According to most national economist we are slowly coming out
of our economic recession? Why then are the following trends still happening:

*Few if any new job hiring by employers across the US.

*Federal Reserve has just raised intrest rates to the BIG banks.

*Nationwide foreclosed home are incresing two-fold.

*With Amercians owning more debt banks,credit card

companies, etc have step up efforts to collect money

owed to them by any means neccessary.




If you've been a victim of job loss, medical emergency or other cause of income loss, you may be one of the millions of individuals facing a pile of debts that you cannot cover. Miss one or two payments and you can expect to get a call from a debt collector.

Calls from debt collectors trying to find you at your place of employment can be humiliating. You may already be screening your calls, your chest tightening as you realize it's them - again.

While not every debt collector is unsympathetic and berating they likely do have to steel themselves for many of the sad stories given to them as explanations for past due debts. They are also frequently rewarded for their efforts in collecting the debt with a commission based on the amount obtained. It is easy to see why it is not uncommon for individuals who are already in a desperate state to fear encounters with the more aggressive collectors who are determined to get their fees.

"What Are They Allowed to Do?"

Debt collectors are allowed to contact you by in person, by mail, by telegram, by fax and by phone; at home or at work - unless they know your employer would disapprove. They may also not contact you before 8 a.m. or after 9 p.m. unless you have agreed to the contact at that time.

They must contact your attorney unless you don't have one. They may then contact other people to find out your telephone number, work place or address, but in most cases they are not allowed to inform them that you owe money or contact them more than once.

"What If I Don't Want to be Contacted?"

Whether or not you actually owe a debt you can write a letter to the collector telling them to stop contact. They may then contact you only once to inform you that they will make no further contact or to tell you what action may be taken against you.

Stopping contact will not clear the debt. If you do not believe you owe the debt make that clear in your letter.

"What Can I Do If I Am Harassed?"

The FTC (Federal Trade Commission) has a Fair Debt Collection policy to protect consumers. Knowing your rights will put off even the most determined collector since they already know the law and are pressing you on the assumption that you don't.

Debt collectors are NOT allowed to harass, abuse or oppress you or other individuals on your behalf - that includes obscene language, threats of violence or repeated calling in an effort to annoy.

They are not allowed to misrepresent themselves as government agents, attorneys or representing a credit bureau if they are not. They cannot imply they are sending legal documents if they aren't or that you've committed a crime, if you haven't.

They cannot imply legal action, including seizing property or garnishing wages unless they are legally allowed and intend to do so.

You can find out more about your rights from the FTC. If you want to report an agent you can do so by contacting the FTC or your Attorney General. If they are breaking the law you have the right to sue.

SIX TIPS TO GET OUT OF CREDIT CARD DEBT

For many of us today any job loss or layoff for even
a short while would be terrible.Why? Because until
you find a job you'll need some kind of extra cash.

Let see maybe I'll ask my family or friends, nope
I think not.Like most Americans until then I just
have to use my credit cards and hope for the best
and promise myself pay them down as soon as I have
another job.

Getting out of credit card debt takes perseverance and willingness to succeed. So whether or not you are being swallowed by the sink hole of credit card debt or you are just starting out to dig yourself into credit card debt - you have to make some decisions before it's too late.


In this hot trend blog post I will list six tips to help you get out of
credit card debt.


1) Stop using your credit cards - Leave your credit cards at home. Did you know that by using your credit cards you are paying additional interest on the credit card balance you owe on which you've already been charged interest. Unless you pay the new charges when you are billed you are accumulating additional interest on both present and past charges.


2) Determine how much credit card debt is costing you. How? you may ask! You can determine how much credit card debt is costing you by seeing how much interest rate you have to pay. This is done by reading the fine print on your latest credit card statement. If you do not understand then you call your credit card company and have them explain it to you. By law they have to explain it to you.


3) Lower the interest rate you are currently paying on your credit cards. Lowering the interest rate you are currently paying is the most effective and easiest way to get your credit card debt situation better. You can lower the interest rate you are paying by transferring high interest rate amount balances to lower or no interest rate companies. Once you've stopped using your credit card you've stopped your situation from getting worst, it's now time for you to improve it.


4) Ask your credit card companies to lower your interest rates. Since you already know the interest rates it is time for you to ask your banks and credit card companies to lower the interest rates. You should call them and ask to speak with a supervisor. The supervisor has the authority to give you a lower interest rate.

You should tell them the rates are too high and you want it lowered. And also let them know that if they are not willing to lower your interest rate you are considering to close your account and transfer all your credit card balances to the company that is willing to give you the lowest interest rate.


5)Consolidate your credit card debts. By consolidating your credit card debts - transferring all credit card balances to one credit card - is an effective way of getting out of credit card debts. So when negotiating to get a lower interest rate you should let it be known that your ultimate goal is to get out of credit card debt at the lowest possible cost and not credit card shuffling.


6) Cut your savings in half. It would be foolish to be paying high interest rates while continuing to save the usual amount, if you are indeed saving. If you are already so deep in debt that no one company is willing to loan you the money to consolidate your credit card debts then you would have to resort to this tactics.

It works like this. Get all your credit card balances. Divide each balance by the minimum amount you are required to pay each month. This tells you how long it would take to pay off each balance. Start by paying off the one that takes the least amount of time (half your savings + minimum payment). Continue making minimum payments on the rest. When that least payment is finished you would pay the next least payment and so on. You would continue using this tactics until you are no longer in debt.

If you follow the above six tips you should be on your way to getting out credit card debts and start building wealth for your future.

STAY OUT OF DEBT WITH THESE USEFUL MONEY SAVING TIPS

In these hard times it is more important than ever to stay out of debt and to set aside money for a rainy day. Here are five tips for getting organized and starting to save:




Allocate Your Savings as a Payroll Deduction



Decide on an amount to be taken from your payroll check and deposited directly into a savings account. This way it will be in the account before you get hold of your salary. However, do not draw out this money every time you say you need it or the whole purpose will be defeated.



It helps if you can select a firm percentage of your income, say 20% of your monthly net income or 75% of your monthly disposable income, to deposit. It will not take long to have a nice little nest egg built up.



If You Have Taken Out a Loan - Pay it Back Immediately



If for some reason you need a loan for some emergency, it is important that you pay the loan back as soon as you can. This way you will avoid having to pay high amounts of interest on your loan.



Reap the Rewards of Budgeting and Saving



Put each buck you manage to save by using common sense ways to reduce your spending into a savings account. Keep an eye on the amount you are putting into the account and make sure it is in an account where your money is accruing interest.



As a reward, withdraw the amount of interest earned each month and buy yourself something nice. This will be an incentive to put more money away every pay day. The more saved, the better the reward.



Financial Planners - Are They What They Seem



Remember, they are in the business of making money and may be selling you products which will make money for them at your expense. There is plenty of free or low cost information available to help you if you are serious about bettering your finances, so you do not need to incur further debt by paying out fees for help.



Create Your Own Way of Saving



This post has provided you with a few ways to save but there are many more available to you. You can either use techniques which have worked well for others or try out your own ways of saving money. As long as you develop your plan, stick to it and the end result is that you save money and become debt free. It does not really matter which method you choose.



Whether you decide to implement some of the above ideas or use your own means you need to get organized. You will make things much easier for yourself by being methodical and once you have become organized you will realize just how much time and money you can save.