Direct Deposit Debit Card

You can save hundreds of dollars a year on check cashing fees simply by using a direct deposit credit card. This is a prepaid card issued as a MasterCard or Visa.

You must fill out a form and give this to the payroll department of your employer to use direct deposit. From then on your checks will be deposited into your account.

There will still be a paystub for you to keep for your records. You will still know how many hours you worked and how much you paid in taxes.

You can check your account balance and recent activity online. You will be able to use direct deposit for payroll checks, pension checks, tax returns, social security and more.

You can then use your prepaid credit card to make purchases. This card can be used over the phone and online.

You can use this card to make hotel reservations and rent a car. Cash can be accessed through ATM machines just like a check card.

You also will have access to a feature called bill pay. This is a free method where checks will be made and sent to pay bills. This will save you money because you will no longer need to buy money orders.

This card also offers free credit builder. This is a service that will make a record of the payments you make using bill pay and report that information to a credit reporting agency. This can be used to show future creditors your credit worthiness.

These cards give guaranteed approval. There is no credit check or chex systems verification. This card is just like a checking account.

There will never be any late fees, over the credit fees, or overdraft charges. You also can have free activation when you sign up with direct deposit.

You will still be approved if you have bad credit or if you are in chex systems. This is just like a second chance checking account. We suggest you stop paying check cashing fees and buying money orders and get a direct deposit prepaid credit card.

How You Can Dispute Your Credit

To remove negative marks on your credit report you must dispute the credit bureaus. You have two methods to do this.

1. Create a dispute letter

This method requires you to create a dispute letter. In this letter you identify the negative mark you want removed and provide a reason why that mark is inaccurate.

Reasons typically include; item is out of date, information is wrong, not my account, account paid in full and etcetera. This letter will need to be sent to each credit bureau.

2. Hire a professional credit repair firm.

Using this method the service will create a dispute letter on your behalf and send it to the bureaus. These services have advanced techniques to remove negative credit such as; debt validation, creditor direct intervention, and escalated dispute information requests.

I suggest a firm if you have multiple negative marks on your credit report. However if you only have one mark then I suggest do it yourself credit repair.

Upon receipt of your "valid" dispute letter the bureaus will hold an investigation. If the negative mark can not be verified then the bureaus must remove it from your credit history.

Be aware that it is common for bureaus to use stall tactics to avoid conducting investigations. This is because it costs the credit bureaus potential profits to conduct an investigation.

The Fair Credit Reporting Act says the bureaus must investigate a disputed listing and if it is found unverifiable it must be removed from your report. The difficulty is getting the bureaus to find you dispute letter valid.

If you are struggling with this then I suggest hiring a professional. However with persistence you can get the bureaus to deem you letter valid.

Often an investigation will result in the negative listing being removed. This is a result of lenders being unwilling to spend the time and money verifying debts.

Which ever method you choose negative credit can be removed from your credit report. You do not have to wait the full seven years.

Where Should I Hire a Commercial Collection Agency?

Whether you choose a commercial collection agency based in your company's town or your debtor's town depends on how many different collection accounts you deal with monthly.

If you are dealing with only one past-due account, you could hire a commercial collection agency that is in the debtor company's area. The local agency may have dealt with the debtor company before and know the company's finances and the best way to collect from them. If they have had no dealings with the debtor than there is no advantage.

If you have slow pay accounts from customers in many locations, hire a national collection agency, or one that is located in the same city as your company to ease the reporting process. It's rarely smart to deal with more than one commercial collection agency at once -- you'll just end up confusing yourself and mix up which company is trying to collect which debt.

As a rule, there is no discount for using a local agency -- either one that is local to your company or the debt dodger. Typically, you will be offered a discount only if you are contracting to have multiple late accounts collected.

The bottom line is. No matter where the collection agency is located, they are still required to follow the law. They can not go to the debtors house and scare them with physical violence. In fact, many agencies will not accept accounts from debtors in a 50 mile radius of there office to avoid a crazy debtor coming to the office to start trouble with the collector.