When you are in debt to a company or another individual, you should keep your eye on your business bank account. Your creditors may sue you for the money you owe them. If they take you to court, and win, the judge may award an order that you repay the money to your creditors. If ...
Creditors may not take money from a bank account that comes from Supplemental Security Income, Social Security retirement, Social Security Disability Insurance or Veterans Administration benefit payments, as these are exempt funds. Exempt funds also include child support, spousal support, unemployment insu...
Creditors with a judgment may alsofreeze your bank accountto recover the debt. This process, known as a bank levy, allows them to withdraw funds directly from your account. State laws govern how much money can be seized, ensuring some funds are protected for basic living expenses. With...
Garnishment is a legal means by which creditors take money from your wages and bank accounts. Creditors may only garnish accounts after obtaining a judgment. Most states require that creditors with judgments file for and obtain a writ of garnishment, a court order, which instructs the bank to ...
Credit card issuers usually state they only accept checks, electronic bank transfers and money orders when you pay your bill each month, but there’s a workaround that technically allows you to pay one credit card with another. You can transfer the balance from one card to another one, effec...
By: AskTheMoneyCoach Paying rent is a common and recurring cost of living, but did you know it has the potential to do more for your finances than leaving a dent in your bank account? Fortunately, by signing up for rent reporting with credit control, you can build credit with rent ...
An overdraft means that you’ve spent more money than the available balance in your bank account. When you exceed your credit card limit, it’s called an over-limit transaction or going over-the-limit. What is a bank overdraft? An overdraft is most often associated with a bank or credit...
Borrow Money For a convenience fee that varies between 1.85%-1.98% based on the payment processor, you can charge your tax liability to your credit card.11You could also apply for adebt consolidationloan from a bank or credit union.
As a result, the collection agencies that your other creditors hire to obtain payment from you cannot intercept or garnish your tax refund. For example, if you've been unable to pay your monthly credit card bill and the company sends your account to a collection agency, the...
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