The difference between a fixed APR and a variable APR, is that a fixed APR does not fluctuate with changes to an index. A variable-rate APR, or variable APR, changes with the index interest rate. A fixed-rate APR or fixed APR sets an APR that does not fluctuate with changes to an index. This does not mean that the  … Read More

You have the right to request one free copy of your credit report each year from each of the three major consumer reporting companies (Equifax, Experian and TransUnion) by visiting AnnualCreditReport.com. You may also be able to view free reports more frequently online. Tip Be cautious of websites that claim to offer free credit reports.  … Read More

The law prohibits debt collectors from using abusive, unfair or deceptive practices to collect debts from you, including misrepresenting the nature of the debt, falsely claiming that the person contactin you is an attorney, threateing to have you arrested or imprisoned if you don’t pay, falsely claiming to garnish or seize your wages, bank account,  … Read More

They must validate the debtor by including the name of the creditor, the amount owed, that you can dispute the debt and if you don’t dispute the debt without 30 days the debt collector will assume the debt is valid, that if you dispute the debt in writing within 30 days the debt collector will  … Read More

If a debt collector contacts you about a debt you may or may not owe, don’t ignore or avoid a debt collector. Debt collectors are, in general, required by law to tell you certain information about the debt. This is known as validation information or a validation notice. This can help you learn more about  … Read More

Debt collectors cannot try to collect on debts that were discharged in bankruptcy. If you file for bankruptcy, debt collectors are not allowed to continue collection activities while the bankruptcy case is pending. If a debt collector calls and you have filed for bankruptcy, tell the debt collector and your attorney. Once the debt is  … Read More

Student loan interest on Federal student loans will resume starting on September, 1, 2023 and payments will be due starting in October. The Department of Education will notify borrowers before the payments restart and will be in direct communication with borrowers and student loan servicers. If you are on an IDR plan, your payment should  … Read More

Bankruptcy is a legal process through which people or companies who cannot repay their debts to creditors may seek relief. It is important to review the underlying problems and to minimize the risk that financial distress will recur. The goal of bankruptcy is to provide a fresh start to people who can no longer afford  … Read More

When you close your account, you are still obligated to pay at least the minimum amount until the full balance is paid off. The care issuer can still charge interest on the amount you owe. Generally, you should be able to close your account by calling the credit card company and following up with a  … Read More

The credit card company has the right to change the terms of your credit card agreement. For significant changes, the card issuer generally must give you notice 45 days in advance. Significant changes generally include increases in interest rates and fees, increases to the minimum amount due, or changes to the grace period or the  … Read More