Credit Counseling & Debt Management : How to Apply for a Credit Card With Bad Credit
How can I get the location where jobs are advertised by Debt Management Office of Nigeria on-line?
My friend informed me that I should check www.DMO.gov.nig advertisement has been placed for empolyment by Nigeria's Debt Management Office I searched for the advert at that address and the application must be made on-line but I cant find the location can someone please help me out?
Watch the video related to debt management
Applying for a credit card with bad credit requires trying to get on a budget, applying for a secured credit card and making regular payments on all debts. Consider the reasoning behind getting a credit card if you are already in debt with advice from a financial service specialist in thisfree video on credit counseling. Expert: William Rae Contact: www.hbwfl.com Bio: William Rae has been licensed in the insurance and financial fields for more than 30 years. Filmmaker: Christopher Rokosz…
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Tags: Bill Collectors, Debt Management, debt warriors, self help
This entry was posted on Wednesday, November 4th, 2009 at 4:53 am and is filed under Debt Management. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
18 Responses to “Credit Counseling & Debt Management : How to Apply for a Credit Card With Bad Credit”
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I got a question I had a Law Firm call me on my Debt from a Gym Contract and I looked up the # they gave me as well too They do not show up on my caller ID and I looked up the Lawfirm name and such and they where telling me I will default by the court of Law and I do not live in that state anymore and then he Left me another Harassing Call telling me Its in my Best Intrest to call them Back???
Is that going against my Rights??? and Im currently Unemployed and he told me that is no exuse
How do you become a prepaid legal associate? I can be so naive. When I first got calls from Mel S. Harris, I freaked too much to think about verification. I paid, became unemployed, husband’s hours were reduced. They put a judgment against me without sending a summons. Sometimes things happen to people. If we are to stop borrowing money, then that includes most of the nation. I am trying to improve myself by going to college for criminal justice. I hope to help others in my shoes one day.
You bet:
"In addition, no individual may be a debtor under chapter 7 or any chapter of the Bankruptcy Code unless he or she has, within 180 days before filing, received credit counseling from an approved credit counseling agency either in an individual or group briefing. "
http://www.uscourts.gov/bankruptcycourts/bankruptcybasics/chapter7.html#eligibility
From experiences I have heard, most of the people I talked with hated it. Payments kept being late and creditors kept calling.
In the end, their credit was worse off than before, just without the debt.
Your millage will vary.
I never thought of thinking about debt collectors as terrorists. It does make sense though, those bastards cause more fear in this country than Osama Bin Laden ever could in his wildest dreams.
Bud Hibbs is my hero
No disrespect to Gemini, but come on here, they rather have someone wanting to deal with the issue than slinking off….
Also, CashCall is NEVER going to work with anyone, even if they come out and ask… Honestly, WTF were you thinking going to that rip-off center known as CashCall. Do a search online, you'll find out how bad they are in mere moments.
If you need the help, use something like CCCS (a non-profit credit counseling service) but with CashCall, good *****ing luck
I would not use one of those credit counseling services that you make one monthly payment to each month and they pay the bills for you. You can't get new credit while using them and they look horrible on your credit report.
I was in quite a bit of debt when I was going through my divorce. I simply called the companies that I wanted to pay off and they worked with me to settle the debt for less, stopping the interest, and worked with me on payments I could afford.
It looks much better to pay them off on your own then to deal with those companies. In the end, your credit will look much better and you'll save even more money than using a counseling agency.
Good luck!! I've been in your shoes. You can come out of debt way ahead!!!
Consumer Credit Counseling Services: http://www.nfcc.org/. These are legit non-profit companies that offer free credit counseling. They can look at your finances and advise you how to set up budgets etc. They also have a debt management plan if you qualify.
They are not going to offer any shortcut or magic formula to make your debt disappear. But they will help you deal with paying off your debt.
I wish I'd been able to warn you about debt consolidation/credit counselling before you went ahead and did it. Most credit counselling agencies are useless and simply negotiate for lower interest rates in a way that you could have easily done by yourself, but without all the fees attached. Most agencies send in your first few payments late, which tarnishes your credit rating and that might explain why your score plummeted a whopping 200pts. Another big reason that your score probably dropped 200pts, is if the credit counselling agency closed out all the accounts that you consolidated with them. CLOSING credit cards is bad, because it lowers your debt-to-credit limit ratio and also lowers your overall "length of open credit history."
But here's what to do to improve your situation:
1. Do the dirty work for the credit counselling agency. DO NOT trust them to send in your payments on time! Therefore, perhaps you should send payments to the credit counselling agency(CCA), but then send additional payments to your creditors, so in case the payment from the CCA gets to your creditors late, you've already made a payment so it won't affect your payment history. Also, follow up with them frequently. If the CCA says that they can slash your card's interest rate from 23.99% to 15%, confirm this with your credit card company. Now if you're doing all this work, you might wonder what the purpose of paying a CCA even is! My point exactly…CCA's are worthless.
2. Pay off your credit card balances as soon as you can. Not only will this raise your debt-to-credit limit ratio and thus your FICO score, but the sooner you pay off your balances and get out of CCA, the sooner you can stop paying monthly maintenance fees to the CCA.
3. If at all possible, DROP the CCA. The only time it is not good to do this, is if you've put down a hefty deposit with the CCA, and the deposit is only refundable if you've completed paying off your debts in their entirety through use of the CCA. But if you didn't pay a large deposit, then I'd suggest DROPPING them and managing your accounts on your own.
4. Keep all credit accounts that are NOT consolidated with the CCA, in good standing and paid on time.
5. Get an open credit card, if your consolidated credit cards have been closed out(some CCA's will close out your credit cards as soon as you join the program…they make it seem as if you will have your accounts reopened after you pay them off, but they're lying! in reality, you leave the CCA with a bunch of useless closed accounts, a lower FICO score resulting from closing all those accounts, and your lowered FICO score makes it impossible to obtain new credit!). Your low credit score will make it very difficult, but not impossible. If you're a student(even a part-timer at a technical institute), get a student credit card…these are extremely easy to get. I know a guy who had HORRIBLE credit scores in the 400s, was going through debt consolidation, but STILL got approved for a Citi student card. Or, you can go to a local credit union and get a SECURED credit card, which will require a deposit, but the deposit will be refunded to you(plus interest) after a set period of time(usually ~12 mos.). You will NEED open credit accounts to establish credit. Just make sure that the card has the Visa or MasterCard logo on it, and that it reports to the credit bureaus.
You can also get a Crown Jewelers credit card. They literally give credit to ANYONE who makes a small jewelry purchase on their online site. Buy yourself(or a loved one) a fairly cheap charm necklace, apply for the Crown Jewelers card, and then pay it off but keep the account open.
6. Also, get a loan. Although obtaining new credit can lower your credit score a bit initially and make you look desperate for credit, in the long run, consistently paying on a loan will help you to build some serious credit history. Since you have a low credit score, here's two easy loans to get:
1) a secured loan from a credit union(works the same way as a secured credit card)
2) a Bally's gym membership contract. Bally's reports their contracts as an "installment loan" on your credit report, and they don't even conduct credit checks! The only way that you can get rejected for a Bally's membership, is if you already owe Bally's money for a past unpaid contract, or if you don't have a checking/savings account. They require you to have a bank account for some contracts, so that they can automatically withdrawal monthly membership payments consistently.
7. Reduce applying for any new credit, unless it is absolutely necessary to build your credit, such as applying for the Crown Jewelers account or secured loan(although most credit unions do not require pulling your credit for secured loans/credit cards, since secured loans/credit cards are backed by a deposit). Make sure that any credit you apply for, you have a good chance of getting approved for.
8. Check your credit report for any errors or inaccuracies, and dispute them! Even dispute accounts that WERE legitimately late, because if the creditor does not have the documents to prove that you really paid late, then the credit bureaus are obligated to remove any bad note regarding the lateness from your credit report! =)
If disputing lates doesn't work and the lates are resultant from your entering CCA, then I would suggest sending each of your creditors a "goodwill letter." Basically this is a letter that states that you are sorry that you were late, you experienced a catastrophy/financial disaster out of your control, you have learned from this bad experience, and since the bad experience you have proven to be a very responsible customer. I'd suggest waiting a few months after you exit the CCA before sending this letter. Make sure you are done with the CCA, and make sure that you have shown a good payment history for the last couple of months. The "goodwill letter" doesn't always work, but it works sometimes…it's worth a try!
You can work out something on your own with the payday lenders. If you give them just $10 a week, they are usually pretty happy, since most people who default on the loans DON'T pay the money back.
I am a debt ‘ terrorist ‘ and you are wrong. alot of debt is legally pursued and collected involuntarily
Credit counseling will appear on your credit report, but it’s not factored into your credit score. Lenders and creditors may be hesitant to issue new credit if the credit counseling is recent, but a bankruptcy or foreclosure will do far more damage.
Alot of truth but your blowing this outta proportion. First off debt terrorist sounds like those that go around running up hundreds of thousands of dollars, then change their social and name. Now that’s more like a terrorist. Sure everyone falls on hardtimes, that’s life. Get up Dust off and move on.
Please view my 2 videos (on my channel page) regarding a DEBT COLLECTION SCAM!
Thank you for this video. Debt collectors are out of control, and I used to be in collections! I am a finance professional who volunteers at a free finance office for people who can’t pay my normal fees. Some of the stuff I have seen lately, is clearly over the line. I helped one individual prove that they didn’t owe a bill they already paid, but the collector still kept calling?! There have also been several people hounded for the debts of their dead relatives, that they DO NOT owe!
I strongly recommend you check out http://www.daveramsey.com
Dave Ramsey is a financial whiz whose program has changed my life completely – I am a single mom who has paid off $15K in debt in the past year and cannot believe how easy his program is to do and how much it works.
The web site has all sorts of information, including links on Ramsey certified counselors in your area. I can't recommend the program or its counselors enough. You will be glad you tried it! They also give you tips on what to look for in a credit counselor and what types of services to avoid.
BTW, congrats on only $4500 in debt. That is not much compared to a lot of people (or myself, who was stuck with a lot of medical bills in particular after divorce). With the Ramsey plan and help from a counselor, you will be in great shape. Good luck!!
EDIT: Credit counseling does not affect your credit rating whatsoever. Your going to talk to someone for financial advice has nothing to do with your credit report.
@Walkpanter88, Yeah you take advantage of people who have fallen on hard-times and are unaware of their rights. That’s why we are also Pre-Paid Legal Associates.
My facts are straight and based on the FDCPA, FCRA, and many other Federal Laws. I used to battle Law Firms everyday when I worked at a Bankruptcy Law Firm myself.
If you work at a Law Firm, you’re just mad because I speak truth. But I warned you in the Video…lol…