Posts Tagged Chapter 7
I set a corporation in Feb 2004. I was an independent contractor for an investment firm that later went under?
Posted by admin in Corporations on October 11, 2010
Myself along with the owner of the contractor and the company that I contracted through were sued in a milwaukee court. My corp. and the contractor were both FL corp. I could not make it to the hearing and did not respond to it in any way so I received a judgment by default. A judgment is on personal credit report for this case. Is it valid to have a judgment on my credit report when I was incorporated? Does it make a difference that the corporation went inactive a year before the suit was filed but the transaction that led to the lawsuit occurred while I was actively incorporated in FL? If it is legal can they garnish my wages and would a Chapter 7 BK correct this problem.
Gerald
credit card math help?
With a credit card you are able to receive money, goods, or services in the present, in exchange for a promise to pay in the future.
True
False
2: Minimum payments are a trap; they are often designed so that it takes months or years to pay off the balance.
True
False
3: The adjusted balance is a measure of the cost of credit, expressed as a yearly rate that must be disclosed before you become obligated on the account and on your account statements.
True
False
4: Federal law prohibits issuers from sending you a renewal or substitute card without your request.
True
False
5: Accurate negative information can generally stay on your credit report for seven years, with certain exceptions.
True
False
6: Realistic budgeting, credit counseling from a reputable organization, debt consolidation, or bankruptcy are all methods of dealing with debt.
True
False
7: Chapter 7, known as straight bankruptcy, involves liquidating all assets that are not exempt. (Exempt items would include items such as work-related tools and basic household furnishings.)
True
False
8: In exchange for an up-front fee, companies which guarantee that applicants will get the credit they want-usually a credit card or a personal loan – are always pre-approved by the FTC.
True
False
9: “Dead Man Walking” was an example of companies scamming citizens out of their social security benefits.
True
False
10: Credit and charge card fraud costs cardholders and issuers hundreds of millions of dollars each year.
True
False
Katie
credit card math help comsumer math?
Posted by admin in Homework Help on May 30, 2010
1: With a credit card you are able to receive money, goods, or services in the present, in exchange for a promise to pay in the future.
True
False
2: Minimum payments are a trap; they are often designed so that it takes months or years to pay off the balance.
True
False
3: The adjusted balance is a measure of the cost of credit, expressed as a yearly rate that must be disclosed before you become obligated on the account and on your account statements.
True
False
4: Federal law prohibits issuers from sending you a renewal or substitute card without your request.
True
False
5: Accurate negative information can generally stay on your credit report for seven years, with certain exceptions.
True
False
6: Realistic budgeting, credit counseling from a reputable organization, debt consolidation, or bankruptcy are all methods of dealing with debt.
True
False
7: Chapter 7, known as straight bankruptcy, involves liquidating all assets that are not exempt. (Exempt items would include items such as work-related tools and basic household furnishings.)
True
False
8: In exchange for an up-front fee, companies which guarantee that applicants will get the credit they want-usually a credit card or a personal loan – are always pre-approved by the FTC.
True
False
9: “Dead Man Walking” was an example of companies scamming citizens out of their social security benefits.
True
False
10: Credit and charge card fraud costs cardholders and issuers hundreds of millions of dollars each year.
True
False
Bobby
Credit Report Dispute: How Long Does it Take to Remove?
Credit Report Disputes can take up to 60 days to remove. The 3 credit Bureaus don’t make it easy to get items removed. Make sure after you have got your Free Credit Score Report and reviewed what is not correct you only dispute once. Every time you dispute an item the dispute gets put back into the 30 to 60 day window again. I am sure you have heard to send in your disputes via certified mail, but I personal have done it on-line for clients. We get the result done actually quicker, and no mail cost involved. Let’s assume you don’t have internet access for some reason then you must send your dispute to the bureaus via mail.
Here are addresses for disputing and phone numbers:
Equifax
P.O. Box 740256
Alanta, GA 30374
(800) 797-7033
Experian
NCAC
P.O. Box 9595
Allen, TX 75013
(800) 583-4080
Trans Union
P.O. Box 2000
Chester, PA 19022-2000
(800) 916-8800
Once you have pulled your Free Credit Score Report, determine which bureaus are reporting information about you that is incorrect. There are many cases where only one or two Bureaus are reporting something incorrectly. Then all you have to dispute is to those one or two Bureaus. Maybe you have filed Bankruptcy and it was a Chapter 13, well this particular bankruptcy should only report for 7 years from file date. Typically Equifax is the culprit that does not remove public records like this. A chapter 7 reports to the C.R.A.’s for 10 yrs. This bankruptcy typically is not removed like it should be either. This is just examples of how items may not drop off when they should. So make sure you stay on top of your Credit Report, because no one will manage your personal credit report like you will.
The conclusion to all of this, disputes usually take 30 to 60 days. Most of the Bureaus for some reason keep reporting after the expiration date. Or maybe you are a junior, and your Fathers bad credit is reporting on your report. What ever the case is, I do know recent studies show 1 in 4 reports have incorrect information on them. Since you are dealing with software that calculates your creditworthiness, I am sure it’s safe to say the software has flaws in it, just like Microsoft’s software has bugs in it as well.
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