Feb 25, 2009
a. If You Dispute a Credit or Charge Card Bill
If you buy a defective item or service and pay for it with your credit or charge card, you can often withhold payment if the seller refuses to replace, repair or otherwise correct the problem. (15 U.S.C. §1666i). However, there are conditions in order to use this law. First, you must make a good faith effort to resolve the dispute with the seller. Second, you are required to explain to the credit or... read more
Feb 24, 2009
8. Doctors’, Dentists’, Lawyers’ (2)
Ask the company to report your payments to a credit bureau as on time while you pay off your balance. If you keep to the new schedule, the credit card company shouldn’t report the debt as past due.... read more
Feb 23, 2009
8. Doctors’, Dentists’, Lawyers’
Many doctors, dentists, lawyers and accountants are accommodating if you communicate how difficult your financial problems are and try to get their sympathy. They may accept partial payments, reduce the total bill, drop interest or late fees and delay sending bills to collection agencies.... read more
Feb 22, 2009
7. Insurance Policies
Most insurance policies have 30-day grace periods—that is, if your payment is due on the tenth of the month and you don’t pay until the ninth of the following month, you won’t lose your coverage. A few companies won’t terminate your policy as long as you pay your premium within 60 days of when it’s due. If you don’t pay within 60 days, your policy will surely be canceled.... read more
Feb 21, 2009
f. Getting Out of Default
You can get out of default on any government loan if you make a certain number of payments under a “reasonable and affordable” payment plan and then rehabilitate the loan. This is how it works: You have the right to get on a payment plan that is “reasonable and affordable” based on your financial circumstances. If you make six consecutive timely payments under this plan, you will become eligible... read more
