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Loan for part – time workers

Jan
23

 

Part-time workers have to settle for a lower income. This is not always easy, because when larger purchases have to be made, the money is usually missing. The situation is different if a fully working partner is available. Nevertheless, a loan may be necessary for part-time workers. Not every bank is ready for this. Credit calculators on the Internet can be used to find cheap loans that are also suitable for part-time workers.

Loans for part-time workers

Loans for part-time workers

Many part-time workers ask themselves whether they can even get a loan. However, it depends on the personal situation of each applicant whether a loan is granted to part-time workers. Having a part-time job does not necessarily mean a low income. It also depends on the professional position of the employee how high the monthly income actually is.

In a managerial position, of course, a different salary can be expected than a normal employee in a non-managerial position. Therefore, the question of a loan for part-time workers cannot be answered across the board. It is therefore always worthwhile to take a look at the offers of the direct banks, which also offer better conditions than the branch banks.

What else to consider?

What else to consider?

Before the banks make a loan approval, they first check the data in the credit rating, and if there are no noteworthy entries, there may well be a loan approval. However, this is only successful if the income has exceeded the garnishment exemption limit. With a good position in the company, an employee can have a minimum net income of around 1,100 dollars. This is enough for a loan approval if the loan amount is not too high.

Loan for part-time workers through installment purchases in retail

Loan for part-time workers through installment purchases in retail

Ultimately, it depends on the purpose, but trade also offers financing. If the washing machine, the TV, the computer or the car breaks down, this can also be financed through trade. In the latter case, however, the income is checked. But in the multimedia markets it is sufficient to be able to present a card. The seller then also checks the credit rating, but nobody asks about the income here. Smaller things can be financed in installments without the income playing a role.

 

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How to Prove a Debt Is Not Yours

Jan
21

Collection agencies are quite serious. These companies, hired by other companies, have the responsibility of collecting arrears. Debt collectors have a number of tactics they can use to collect a debt from you, such as calling, sending letters, listing the debt on your credit report and completing to you. These are strong enough to deal with when the debt is yours, but what do you do if the collection account is not yours?

The incorrect collection may be the result of someone opening an account in your name and not paying the bill.

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Sometimes debts are paid to collections by accident. And, in some cases, unscrupulous collection agencies make fake debts hoping consumers will be scared to pay without ever asking if the debt is real. If you have doubts about whether a debt is yours, it is important to follow the correct steps.

Sometimes debts are paid to collections by accident. And, in some cases, unscrupulous collection agencies make fake debts hoping consumers will be scared to pay without ever asking if the debt is real. If you have doubts about whether a debt is yours, it is important to follow the correct steps.

Determine If the Debt is Yours

Do not assume that because the collection seems strange and you no longer know with an account with that creditor that the collection is not yours. There is always the possibility that a bill slipped through the cracks or that you simply did not recognize the name of the original creditor. For example, a loan may have been sold to another manager. Or, in with retail credit cards, the bank that has a credit card has a different name than the store you signed up for with the credit card.

The two most important terms for debts

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The amount of effort you put into debating the debt depends on how much the action of the collection agency against which you can take to take the debt based on the credit reporting time limit and the statute of limitations for your state. The credit reporting time limit is the maximum amount of time that a debt can be reported to the credit bureaus; it is 7 years after the last date of delinquency for most accounts. In 2017, for example, collection agencies cannot report debts from 2009.

The limitation period is the time that a debt is legally enforceable. Simply put, it is the amount of time that a collection agency can use the court to force you to pay a debt. It is much less likely that a collector will sue you once a debt is outside the statute of limitations. Of course, you will have a great defense if the collector has sued you – the fault is not yours.

Dispute the debt with the Collection Agency

You have the right to request proof of debts from collection agencies if you have to pay. Once you have requested the evidence, the collection agency has to stop collecting efforts until it can prove that you are to blame and that the collector is in his right to collect the debt. This means no more calls, letters, credit bureau updates, and no lawsuits.

You can dispute a debt with the collection agency by sending what is known as a debt validation letter. In this letter it simply says that you do not believe that the debt is yours and that the debt collector must provide proof of the debt to you. Send your letter via registered mail so that you will have proof of when the letter was sent and received.

Check if your credit is affected

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If collection agencies are contacting you about a debt, there is a good chance that the debt has been reported to the credit bureaus. Check a copy of all three of your credit reports to check if the collection account has been reported to the credit bureaus. You must check all three, because some collection agencies report to all three agencies, while others report to only one or two.

Collection accounts can hurt your credit score, keep you from being approved for credit cards and loans, and cause you to pay higher interest or deposits on accounts that you have been approved for. It is one thing to damage credit for collection accounts that yours are suffering. It is unacceptable to have credit issues for collection accounts that do not belong to you.

Dispute the debt with the credit bureaus. You have the right to an accurate credit report, which means that you dispute collection accounts that are not yours. Write a letter to each of the credit bureaus that shows the incorrect collection on your credit report. Explain that the account does not belong to you and copies of any evidence that you support your claim.

Why you can’t just ignore the Debt

Out of sight, from the heart is not necessarily a good strategy for dealing with collection, even collections that are not yours. If the debt is not on your credit report, is beyond the credit reporting time limit and is outside the statute of limitations, you have less to worry about. Even if all of these are true, you cannot be mistaken that the debt collector will not reset the age of the debt and add it to your credit report. Or, they may file a lawsuit anyway with the hope that you will not appear in court and they will win an automatic judgment against you.

You can stop a collection agency from calling you with a simple cease and desist letter.

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The name sounds like luxury legal jargon, but the letter is very simple. In the letter, you just have to request that the collection agency stop contacting you regarding the debt. Once the collection agency receives your letter, it can only contact you once more to let you know which action, if any, the collector will take next. After that, it’s against the law for that collector to take you over that debt. Send your letter via registered mail and you will be able to keep track of when the collector receives.

Note that asking the collection agency to stop calling you is not stopping the use of other collection tactics – such as filing a lawsuit or listing the debt on your credit report. It is best to let the collector know that the debt is not yours, a proof of any payments you have made, or a request validation from the collector.

When collection staff Misbehave

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You may be able to sue a collector who is still collecting a debt after you have followed all the appropriate steps to contest the debt and request validation. A lawyer with experience in dealing with debt collection cases will be able to tell you if you will have a valid trial and assist you further with court filings. You also need a lawyer involved if you are sued by the collection agency. Do this even though the fault is not yours so that you have the best legal defense possible.

Click here for the Consumer Financial Protection Bureau involved if the debt collector or credit bureaus do not respond well. For example, if the debt collector continues to collect you, after a failed attempt to respond to your debt letter validation or if the credit bureau continues to list the debt on your credit report after you have disputed it. 

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