Financial Q & A
Think of the questions your customers ask most frequently and write them here along with the answers.
A: Well, getting bad credit off of your credit report all depends on the situation. If it is actually your bad credit, the best way to handle it is to contact the credit, confirm all debt information, pay the debt off, and then notify the creditor to note on your credit file that the account is paid in full. It's purely up to the creditor whether or not they want to delete the bad history. However, it doesn't hurt to ask. It does happen where the creditor actually does that in some cases.
In the event that the bad debt is not yours, notify the creditor AND the credit bureaus and open an investigation. The creditor will need to confirm with proof that the account does actually belong to you.
A: YES!!! It is extremely important to have a budget. It allows you to see what you have to work with on a monthly bases. Most people who are in debt (bad debt), if not all, have bad debt because they did not follow a budget plan. A budget will also allow you to see how you're spending and how to free up extra money.
A: First, be sure that you file by the April 15th deadline or at least file an Extention. If you can, send in some money if not all of what you expect to pay. This will reduce the interest amount that you will owe. Next, be sure to contact the IRS or your local State Dept of Revenue to set up a payment plan if you need to. If you simply ignore the debt, you will get hit with a garnishment of your wages eventually.
A: After you've taken the time to look at your budget plan to see what money you have to work with, contact the creditor. Let them know of your circumstances and when and how much you'll be able to pay. 9 times out of 10, they'll work with you on some type of payment plan to catch up on your bill.
A: Be sure to speak with your companies Benefits Dept to find out about the COBRA program that they have. Also, file your Unemployment Claim. They don't retro pay your benefits, so if you wait a month to file, you won't get paid that month. Next, review all of your expenses to see whats a necessity and what's a want. Next, check with your State and Local Agencies to see what provisions are available for you. The DC/MD/VA area alone has over 5000 programs available for their residents.
A: You can always go to the Contact Us tab and submit your questions and comments through there or feel free to contact our
Customer Service Department