Six Reasons Why A Credit Card Makes Sense

Many personal finance experts strongly discourage people from using credit cards. After all, debt on personal credit cards adds up quickly, which in turn becomes a major source of stress. Although true, when credit cards are used wisely, they offer a wide range of benefits. Benefits of Credit Card Use Building Good Credit – If you currently have a low FICO score or have little to no credit history at all, using a credit card responsibly will improve your credit. Unlike debit cards that do nothing for improving a credit score, credit cards do. For example, if you filed for bankruptcy within the past two years, a reputable credit improvement program will increase your credit score to the point of making it possible for you to qualify for a standard interest automobile or mortgage loan. As part of this program, you secure a credit card in order to help build up that credit score again. Earning Cash Back – Although you will have no problem finding a cash-back credit card, the goal is to find the right one. With some credit cards offers, you will earn between 1% and 5% on all purchases made. This equates to you getting a discount on every item that you buy. Investment Rewards – Some credit cards with a cash-back offer will deposit the money directly into an investment account. In addition to helping you save, this encourages investing. Frequent Flyer Miles – Especially if you travel often for business or pleasure, a credit card that provides frequent flyer miles is extremely beneficial. Most airlines have one credit card offer, sometimes more. Because the value of the card depends on the airline tickets that you use, as well as specifics that are outlined by the card issuer, you should consider several different credit card options. Financial Safety – Unfortunately, there are times when automatic payments are posted late or financial losses occur. By using a credit card, these scenarios are avoided. With a debit card, any fraudulent activity hits your account immediately. Even when the card issuer guarantees money back, this typically takes a lot of time. In comparison, you lose no money when fraudulent activity occurs on a credit card. In this case, you receive notification from the issuer and are not out any money.  Insurance Protection – You may not be aware that the majority of credit cards offered today come with various types of consumer protection in the form of insurance. This includes travel insurance, rental car insurance, and so on. Because the type and amount of insurance protection is unique to each card, you want to shop around. By using credit cards responsibly, you get to enjoy numerous benefits. Most importantly, make sure that the outstanding balance on the card is paid off in full every month. That way, you avoid excessive interest, late fees, and any other penalties. If you have a tremendous amount of outstanding credit card debt from the past and want a fresh start, you can always contact one of our Norwich bankruptcy attorneys. The attorney will assess your situation and then make the appropriate recommendation to help you rebuild...

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The Truth about Credit Card Offers

More than likely, you have received credit card offers in the mail. Surprisingly, even people with poor credit receive these offers. The fact is that more credit card offers are made to people who have filed bankruptcy than those without much debt. Remember, it is all about the money for credit card companies, which make the most money from people who maintain high balances and pay late fees on a consistent basis than those who pay off balances each month. A common thread among people who have gone through a bankruptcy filing is a high credit card balance. To credit card companies, they believe that old habits die hard. Therefore, even after someone uses a Norwich attorney to file for bankruptcy and the case is dismissed, credit card companies know that most people will again carry a high balance if given the opportunity with a new offer. Credit card companies target people who have filed bankruptcy because they know those individuals cannot go through another bankruptcy filing for a minimum of eight years. As a result, these people have no choice but to pay high interest rates and outrageous late fees based on what credit card companies want to charge. You can stop receiving credit card offers in the mail, regardless if you are considering a bankruptcy filing with a Norwich attorney. This may help you avoid temptation and reduces junk mail. The process involved is actually quite easy. You can choose to have offers stop for a five-year period or, if preferred, on a permanent basis. Although a large number of offers come from mailing lists that the credit bureaus provide, by law, they must provide you with a means of opting out. If you want to put credit card offers on hold for five years, simply call 888-567-8688 or visit www.optoutprescreen.com. When going to the website, you will need to provide your full legal name, mailing address, date of birth, and social security number on the online opt-out form. If you are more interested in stopping credit card offers permanently, visit the same website and print the form for permanent opt-out. Because a signature is required, you will mail the completed form back to the address provided. Keep in mind that even after opting out of credit card offers, you may receive a few not associated with lists that come from credit bureaus. For example, if your bank or credit union has a special offer, it may send it to you via mail. The good news is that by going through the steps provided, the amount of offers that you receive will be dramatically reduced. In addition to the process being quick and easy, this eliminates unnecessary stress going forward. Obviously, opting out of credit card offers helps tremendously in reducing debt. However, if you are in a position where a bankruptcy filing is your only way to get on top of your finances, it is important to hire the best attorney in...

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Which Insurance Do You Need? Our Norwich Bankruptcy Attorney Has the Answers

Choosing the Right Insurance According to the latest statistics, as much as 60 percent of all bankruptcies are the result of unexpected medical bills. In one particular study, data from the U.S. Census Bureau, federal court system, Centers for Disease Control and Prevention, and the Commonwealth Fund were analyzed. The analysis showed that roughly 2 million people file bankruptcy every year. To protect your loved ones, as well as your home, assets, and even health, it is imperative to have a solid financial plan in place. So many of the clients we see in our Norwich bankruptcy attorney’s office could have handled the curve balls life threw their way with the proper insurance safeguards. Although the cost of insurance is high, you would ultimately pay much more by not having it when needed. 5 Mandated Insurance Policies Among the different types of insurance policies, five in particular stand out as being the most critical. Life Insurance – There is no pleasure in thinking about death, but it is part of life’s cycle. Therefore, you need a plan that ensures your loved ones are taken care of financially after you are gone. For the people who depend on you, life insurance is imperative. Remember, people left behind face the challenges of replacing your income, paying for a funeral, dealing with expenses associated with any illness, and paying off debt. With the right life insurance policy, the people you love are protected. Health Insurance – Although health insurance is expensive, facing a health crisis without insurance would be devastating. In reality, many bankruptcies can be avoided simply by having adequate coverage. If you are struggling with mounting medical debt, a Norwich bankruptcy attorney from our office can offer guidance and viable solutions. If you are not in a dire situation, now is the time to purchase health insurance, for you as well as your family. Long-Term Disability Insurance – Although the cost of long-term disability insurance is an added expense, it is a worthwhile investment. If you become unable to work because of an illness or injury, this type of insurance replaces a portion of your lost income. The actual cost of long-term disability insurance depends on several factors, including your current health status, age, and the amount of replacement income. When shopping around for a policy of this kind, remember that “disability” has a unique definition from one company to the next, so you need clarification when dealing with several insurance companies. Homeowner’s Insurance – As a homeowner, you are required to maintain homeowner’s insurance. Homeowner’s insurance offers both protection and peace of mind. Compared to what it would cost you to replace lost, stolen, or damaged belongings, the cost of a homeowner’s insurance policy is minimal. In addition to tangible items, this type of policy covers injuries that occur on the property. Because there are so many unique options, it is important that you shop around. Automobile Insurance – Just as with owning a home, as the owner of a vehicle, you are mandated to maintain liability insurance coverage at a minimum. Without insurance protection, you set yourself up to be sued in the event of an accident. For automobile insurance, make sure that you purchase the right type and amount of coverage for the vehicle as well as any liabilities. The bottom line is that insurance is necessary, but it is up to you to conduct research to find the best protection. Consider just how much is at stake by not having the right insurance policies in place just because you want to save a little money. With...

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Norwich bankruptcy lawyers’ tips for dealing with collection calls

Are you tired of feeling stressed each time the phone rings, knowing a collection company is on the other end? If so, you’re among millions of people facing the same dilemma. To get collection companies to stop calling, you need a viable plan, one that helps you determine priorities and gets you out of debt. As an example, if you have multiple creditors, you need to decide which one is most important. After prioritizing all your financial obligations, you need to consider which creditors you can afford to pay based on income. As part of that, you need to determine the amount you can pay and the schedule on which you can make payments. After devising an acceptable plan, reach out to your creditors to see if they are in agreement. Remember, creditors want to recoup money, so most are willing to accept smaller payments than no payments at all. When receiving phone calls from collection companies, you want to ask for the name, address, and telephone number of the company they represent. You should also request the name of the caller, as well as the amount of debt owed. Make sure during the conversation that you never make a promise to pay. Instead, advise the collection company that you are reviewing your budget and will get back to them after determining the amount you can afford. Seeking Legal Advice from a Norwich Bankruptcy Lawyer If you need assistance in creating the best plan, you can always rely on the services of a reputable Norwich bankruptcy lawyer. Together, we will review your income versus debt, determine who your creditors are, and then come up with a repayment plan that everyone accepts. As our team would tell you, the goal of all collection companies is to get you to commit to paying a specific amount of money. Even though laws prohibit collectors from doing or saying certain things, all too often these companies use fear tactics in trying to get you to comply. Although you may be fearful or even angry, it is important that you maintain composure when talking to collection companies. Politely state the information mentioned and then hang up. Depending on the collection company, you may receive another phone call almost immediately, which you can ignore. However, if a representative calls a few days later, you’ll have a plan. Norwich bankruptcy attorney, Laura Harris-Courage, will tell you to never make financial decisions while under pressure. By doing so, you may ultimately take money for one debt to pay another, which does nothing to help. To create a plan for dealing with collection companies, for help getting through the process, or to get out of debt completely by filing bankruptcy, you need to talk to an experienced and respected bankruptcy attorney in Norwich. We want to be in your corner providing guidance and support along the...

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What Should I Do If I Have a Judgment Filed Against Me in Norwich?

Should I file for Bankruptcy in Norwich if I’m being sued? The only way you can be hit with a judgment is if a creditor has filed a formal lawsuit. If a lawsuit is filed, a notice will be sent to you. Once this notification has been received, it becomes imperative that you seek the services of a reputable Norwich bankruptcy lawyer. Keep in mind that if you take no action once a lawsuit is filed, more than likely the creditor will then go a step further in securing a judgment. What most people do not realize is that a creditor can collect on a judgment over a 10- to 20-year span, which means having that debt hanging over your head for a long time. With a judgment, a creditor can collect on money owed in several ways using the services of the local sheriff’s department. One of the most common is having your wages garnished. In this situation, a specified amount of money is withheld from each paycheck. However, there is also the risk of your bank account being frozen or other assets locked. As Norwich bankruptcy attorney Laura Harris-Courage can explain, once a judgment is ordered against you, an automatic lien is placed on your home, as well as any other real property, such as land or additional structures. Therefore, to sell physical property, you would first be required to pay the lien in full. Unfortunately, if the amount of the lien were to push the home past its actual value, selling may not even be an option. For instance, if the home’s value is $120,000, but a lien adds on $30,000, selling will probably not be a viable option. On the other hand, if there is available equity in the home to satisfy the judgment, the creditor can have the sheriff’s department sell your property in order to collect the money due. If you are currently facing this kind of situation, you need someone on your side. Now, bankruptcy alone will not eliminate the judgment lien, but certain action can be filed with the court to have it wiped out completely. As expected, there is an additional legal fee for this type of service, but in exchange for removing a lien from your home, land, or other structure, it is well worth it. The last thing you want to do is nothing. Call our office today for a free consultation and get back on the path to financial stability. (607)...

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Can you answer YES to any of these questions?

Are you being burdened with any of these scenarios? Can you answer YES to any of these questions? If you answer yes to any of these questions then we can help! Are collection agencies constantly harassing you? Is your mailbox full of overdue notices? Are you using one credit card to pay off another? Has your vehicle been repossessed? Has someone sued you and won? Did your “ex” leave you with all of the bills and only half the household income? Are your total bills as much as you make in a year? Were you laid off from your job and now not working or working for less pay? Have you thought about getting a high interest loan or using your home and/or household goods as security for that loan? Harris-Courage & Grady PLLC understands your frustration and anxiety. As a debt relief firm, we offer real solutions to your financial problems that will bring you peace of mind and a new...

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