Credit Card Debt Trap #3
By Mike Wayman
Hopefully you’ve seen the last two posts on credit card debt traps. The first was a general introduction while the second covered a bit of history. The important thing to glean from these videos is exactly how credit cards negatively affect the financial lives of American citizens and how we can all avoid debt traps. Not only are these traps financially difficult to overcome, they often lead to a negative credit rating.
Read the fine print in all of the credit applications you are considering applying for. Determining if a credit debt trap exists can only happen if you understand the terms of the credit you are applying for. While many people never stop to consider the general terms of a credit card they really should. To me, it seems like we all simply trust large credit companies because we don’t think they would engage in acts that are fraudulent, deceptive or illegal. Think again!
If you are the victim of a credit card debt trap then please give us a call. We may be able to help you remove negative credit from your credit report caused by a debt trap.
You May Be A Deadbeat And Not Even Know It!
By Mike Wayman
Have you seen the credit card commercials where the financially stable grandpa becomes victim of identity theft? They are hilarious and clever. In fact, they are particularly informative when it comes to the issue of identity theft - a common occurrence happening around the world. For those who are financially stable, like the grandpa in the credit card commercials, the risk of becoming a victim of identity theft and credit fraud is increasing.
In fact, if you think your credit is great but you have not checked the report recently, you could have a horrible report you do not even know about. One of the biggest myths about credit is that you do not need to check your report unless you are having financial difficulties. Do not become victim to this myth.
Check your credit report and look for discrepancies. You might be surprised what you find. It is extremely important that if you do find errors you take the steps to correct them. Even if you are not victim of identity left, there could be a chance that your payments were listed late when you paid on time. If you need to resolve certain issues, write your dispute to the credit-reporting agency. Once, you have done this give the agency 30 days to investigate your claim. It may seem like a hassle, but it is worth it to fix your credit.
