Understanding The Pros And Cons Of Bankruptcy

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Written on 5:35 PM by zorayda

In this article, let’s take a closer look at the pros and cons of bankruptcy and how it should affect your decision on whether to seek bankruptcy or not.

The Pros of Bankruptcy

When bankruptcy is filed for the right reasons, it can have advantages or benefits to an individual. First of all, it releases you from the pressure and stress of having creditors constantly obliging you to pay. Some creditors are known to harass their debtors and such harassment can rob you of your privacy and peace. Once you’ve filed for bankruptcy, all creditors are prohibited from keeping in contact with you or do any kind of debt collection practice. This will certainly give you peace of mind and relief.

If you do get approved with a Chapter 7 bankruptcy, you will be set free from all debts you have with all your creditors. This means, you can have a fresh start again and start living a life free from debts. In case you do not qualify for Chapter 7, a Chapter 13 bankruptcy would put under a bankruptcy repayment plan where you’ll be required to submit a certain percentage from your monthly wage as payment for your debts. Even if a Chapter 13 doesn’t completely exempt you from your debts, going through a bankruptcy repayment plan can still be a great help in managing your debts.

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Ways to Protect Your Debit Card From Identity Theft

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Written on 6:01 PM by zorayda

The problem of identity theft and credit card fraud is an undeniable fact in our society today. In the United States alone, millions of consumers fall victim to ID theft and fraud each year, and the number of victims continue to increase with the passing of time. With the introduction of credit cards that functions as debit cards, cases of ID theft have also grown more than ever.

Why are debit card users a favorite target of identity thieves? Why are prepaid debit cards susceptible to credit fraud? Why should you pay close to attention on how you use your debit card? How can you safeguard your personal information especially when using debit cards and credit cards? Here are some tips to help you protect yourself from the unnecessary heartache and trouble that ID theft can bring.

1. Always be on the alert. Usually, people who become victims of ID theft are caught unaware or have been caught letting their guards down. If you own a debit card or a credit card, you need to especially alert at all times. Never give any of your card information to any person or company without making sure that they can be trusted. Don’t be tempted to purchase from unknown sellers particularly over the web just because they offer lower prices on their products. It’s better to buy only from a reputable merchant with a reliable track record in selling.

2. Don’t carry all your credit cards and debit cards in your wallet. Obviously, such a practice puts you more at risk in case your wallet gets stolen or misplaced. It is best to carry only one card in your wallet and keep the others in a safe storage.

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How to Smartly Manage Your Credit Card Charges

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Written on 5:00 PM by zorayda

As a card holder, what can you do to stay out of credit card debt? Here are 6 tips on how to handle your account the smart way:

1. Be aware of your credit card’s exact terms. How well do you understand your credit card’s Terms & Conditions? Surprisingly, many cardholders are not even aware of their exact interest charges, transaction fee costs and penalties. If you’ve had that credit card for a long time, has there been any change in your interest rate and fees? Do you take the time to read your credit card mails? Remember, your credit card company can increase your charges at anytime as long as you’re given the 15-day advance notice.

 2. Ask for a lower rate. If your credit card has increased your interest rates, you can call them up, speak with the manager and ask for a lower rate. Don’t be afraid to point out the interest rates that other credit card companies offer. If you feel that you need to threaten your credit card issuer of leaving, go ahead and do so. However, it’s best to raise your issues politely and with dignity. If your credit card company refuses to give in, you can try calling them again after a month or two.

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