Welcome, visitor! [ Login

Post an Ad

Paying Your Creditors- priority

Uncategorized June 28, 2022

Normal
0

false
false
false

EN-US
X-NONE
X-NONE

/* Style Definitions */
table.MsoNormalTable
{mso-style-name:”Table Normal”;
mso-tstyle-rowband-size:0;
mso-tstyle-colband-size:0;
mso-style-noshow:yes;
mso-style-priority:99;
mso-style-parent:””;
mso-padding-alt:0in 5.4pt 0in 5.4pt;
mso-para-margin-top:0in;
mso-para-margin-right:0in;
mso-para-margin-bottom:10.0pt;
mso-para-margin-left:0in;
line-height:115%;
mso-pagination:widow-orphan;
font-size:11.0pt;
font-family:”Calibri”,”sans-serif”;
mso-ascii-font-family:Calibri;
mso-ascii-theme-font:minor-latin;
mso-hansi-font-family:Calibri;
mso-hansi-theme-font:minor-latin;
mso-bidi-font-family:”Times New Roman”;
mso-bidi-theme-font:minor-bidi;}

Paying Your Creditors

If you are contacted by a creditor or debt collector, first make sure you really owe the money they claim.  Every collector must send you a written “validation notice” saying how much money you owe within five days after they first contact you. This notice must include the name of the creditor to whom you owe the money, and how to proceed if you do not think you owe the money.  If you send the debt collector a letter within 30 days stating that you do not owe any or all of the money, or asking for verification of the debt, that collector must stop contacting you. But a collector can begin contacting you again if it sends you written verification of the debt, such as a copy of a bill.  Assuming you owe the debt, let us talk about how to handle it.

You may feel pressured by creditors and lenders to pay their bills first. However, you should pay your basic necessities (e.g., mortgage, rent, utilities) before paying other creditors (e.g., credit card companies).

What should you do if you are behind in your bills and cannot make a full or partial payment to your creditor?

Answer: Call your creditors as soon as you know you cannot make a payment. If you avoid their calls, they will only call more frequently. We will discuss ways to negotiate with your creditors later in the module.  

 

Paying Your Creditors

If you are contacted by a creditor or debt collector, first make sure you really owe the money they claim.  Every collector must send you a written “validation notice” saying how much money you owe within five days after they first contact you. This notice must include the name of the creditor to whom you owe the money, and how to proceed if you do not think you owe the money.  If you send the debt collector a letter within 30 days stating that you do not owe any or all of the money, or asking for verification of the debt, that collector must stop contacting you. But a collector can begin contacting you again if it sends you written verification of the debt, such as a copy of a bill.  Assuming you owe the debt, let us talk about how to handle it.

You may feel pressured by creditors and lenders to pay their bills first. However, you should pay your basic necessities (e.g., mortgage, rent, utilities) before paying other creditors (e.g., credit card companies).

What should you do if you are behind in your bills and cannot make a full or partial payment to your creditor?

Answer: Call your creditors as soon as you know you cannot make a payment. If you avoid their calls, they will only call more frequently. We will discuss ways to negotiate with your creditors later in the module.  

 

Normal
0

false
false
false

EN-US
X-NONE
X-NONE

/* Style Definitions */
table.MsoNormalTable
{mso-style-name:”Table Normal”;
mso-tstyle-rowband-size:0;
mso-tstyle-colband-size:0;
mso-style-noshow:yes;
mso-style-priority:99;
mso-style-parent:””;
mso-padding-alt:0in 5.4pt 0in 5.4pt;
mso-para-margin-top:0in;
mso-para-margin-right:0in;
mso-para-margin-bottom:10.0pt;
mso-para-margin-left:0in;
line-height:115%;
mso-pagination:widow-orphan;
font-size:11.0pt;
font-family:”Calibri”,”sans-serif”;
mso-ascii-font-family:Calibri;
mso-ascii-theme-font:minor-latin;
mso-hansi-font-family:Calibri;
mso-hansi-theme-font:minor-latin;
mso-bidi-font-family:”Times New Roman”;
mso-bidi-theme-font:minor-bidi;}

No Tags

805 total views, 0 today

  

  • Credit Counseling Agencies :EASTERN DISTRICT OF NORTH CAROLINA

    by on November 13, 2022 - 0 Comments

    Alliance Credit Counseling, Inc. 13777 Ballantyne Corporate Place, Ste.100 Charlotte, NC  28277-3433 Phone:  888-594-9596 Fax: 704-943-0313 Email:  kevin@knowdebt.org Website:  www.acc.consumerbkcenter.com, www.crisishelp.org, www.knowdebt.org Debt Management/Credit Counseling All Names Used: Alliance Credit Counseling, Inc., AAAlliance Credit Counseling, Inc., AAA Alliance Credit Counseling, Inc.  Addresses: 15720 John J. Delaney Dr., Ste.100, Charlotte, N.C. 28277, 7621 Little Avenue, #100, […]

  • Debt Collectors -Recovery Services - FL & AL

    by on September 13, 2022 - 0 Comments

    Entity Address Telephone CenterOne Debt Management Services LLC 6150 Omni Park Drive, Mobile, AL, 36609 (251) 639-7500 Medical Data Systems, Inc.  Medical Revenue Service 645 Walnut Street, Suite 5, Gadsden, AL, 35901 (256) 546-7099 Firstsource Financial Solutions, LLC 7715 NW 48th Street, Miami, FL, 33166 (305) 513-5500 Bayview Loan Servicing, LLC 4425 Ponce De Leon […]

  • Personal Financial Management Course (Debtor Education) Providers :Alabama Southern

    by on October 6, 2022 - 0 Comments

    List of  Personal Financial Management Course (Debtor Education) Providers #02 Certificate Class 713 Preston Place Grapevine, Texas 76051 Toll Free:  (888) 533-3423 Phone:     (817) 533-3423 Fax:          (817) 533-3423 Web: www.jjandpartners.com Allen Credit and Debt Counseling Agency 195 Brook Street E Wessington, SD 57381 Toll free:   (888) 415-8173 Phone:     (605) 458-2500 Fax:         (605) 458-2506 Web: www.acdcas.com Alliance Credit Counseling, Inc. […]

  • Debt Collectors -Recovery Services

    by on August 31, 2022 - 0 Comments

    Entity Address Telephone A.C.B. American, Inc. 4351 Winston Avenue, Covington, KY, 41015 (859) 261-8745 Advanced Collection Services LTD Mastercheck 55 Whiting Street 2A, Plainville, CT, 06062 860-793-2255 Advanced Collection Services LTD Mastercheck 55 Whiting Street 2A, Plainville, CT, 06062 860-793-2255 Affiliated Group, Inc., The  Affiliated Credit Services 3055 41st Street NW, Suite 100, Rochester, MN, […]

  • How to calculate Monthly Income and Expenses - Case study

    by on November 6, 2022 - 0 Comments

    Monthly Income and Expenses   Once you know your monthly expenses, you can use a Monthly Income and Expense Worksheet (similar to the one on page 8 of your Participant Guide), a money management software program, or an online budgeting worksheet to determine: How much money you have coming in (income) How much is going […]