A Guide to Pre Paid Debit Cards

Prepaid debit cards were created for individuals with a damaged or no credit history. There is no credit check or chexsystems verification.

The only requirement is that you comply with the US. Patriot Act, which basically says that your identity will be checked. So as long as you are who you say you are, then you will be approved.

These are not traditional unsecured cards. Instead you must first deposit funds into your account and then you can make purchases. However you will not be charged any interest fees, late payment fees, overdraft fees, or over the limit fees instead you can only spend the money in your account.

Where will it be accepted?

It will be accepted over the phone and online. Additionally you can use it world-wide and make purchases such as reserving hotel accommodations, buying gas at the pump, renting a car...

How to deposit money

Direct deposit is the most common form and usually it is free. You can also purchase a money pak and load funds at thousands of retail locations (grocery stores, gas stations, money stores...). You can also transfer funds from a bank account or pay pal account.

Bill Payment

You will be given access to an online bill payment center. This will allow you to pay your bills and manage your money. You can set up one time payment, recurring payments, and future payments. The fees for this will vary we have seen it cost upwards of a $1 and we have also seen it for free.

Fees

Each offer will vary with fees. This is incredibly important feature to research for obvious reasons. You should expect to pay roughly $10 a month; however you should also have the option of no monthly charges if you deposit enough money (we have seen roughly $3,000 a month) or make so many purchases every month. We have seen some cards charge up to $19.99 a month which is simply too much!

Security & Fraud Protection

Your card will be issued as either a Visa or a MasterCard. These cards will be covered by a Zero Liability Policy. This means that should you ever lose your card or have it stolen you will not be responsible for unauthorized purchases. In other words you will not have to pay for purchases that you did not make.

Need Cash

When you need cash, you will have access to millions of ATM locations. Additionally you can also ask for 'cash back' at the grocery store.

In sum, prepaid debit cards are a great alternative if you have made some financial mistakes in the past or just don't have credit. They can save you a bundle of money on check cashing fees and purchasing money orders.

For a full review of our recommended Prepay Debit Card the AccountNow Gold Visa visit us.

Consolidate Debt the Easy Way

Folks need a break, there's small query about that. While experts are now saying that the economy is back on its way up, unemployment is still rising, and credit is tighter than ever, just try getting a loan. Debt was piling up on my desk for a selection range| number of different accounts, it was overpowering. Now I'm feeling much better, ever since I learned the simple way to consolidate debt.

Learning the best way to consolidate debt isn't difficult. A debt consolidation company is a third party lender which will, essentially, take all off your past due debt ( cards, mortgages, auto or student loans ) and pay them off. Just like that. They'll float you a loan for this total amount, and then all that's left is to pay the monthly payment for this one single loan. This was especially excellent for me. I had difficulty simply juggling the different monthly payments that came in at assorted times in the month. Keeping an eye on all of the different payments cost my hours of my time every month. Now? It couldn't be easier to make the one single payment, fifteen minutes, tops.

Learning how to consolidate debt is easy. The majority of these debt consolidation companies will be looking to give a secured consolidation advance. Secured consolidation loans will offer lower rates, typically , because there's some collateral behind it.

The most common type of collateral is home equity. You can build home equity if you have paid off a substantial amount on your home loan or mortgage, or, ( seldom nowadays ) if you have managed to see the fair market price of your property price climb seriously in the previous few years. You may still be in a position to get an unsecured consolidation loan, but the rates possibly will not be as favorable.

There are benefits to debt consolidation, but you need to consult a trustworthy bank for recommendation. Your mortgage broker or trusted lender can also help you to find debt consolidation firms in your area, if they themselves don't supply the service anyway. Either way, understanding how to consolidate debt gives you the correct perspective on whether it is the right personal finance move for you.

Before you try to consolidate your debt, make sure you check Curtis Hill's excellent website on Saving Money, and his book Poor No More

If the Day Comes When You Cannot Make Your Monthly Credit Card Debt Payments, What Do You Do?

Are you worried about the future likelihood of not being able to pay your credit card debt?

Are you getting behind in your credit card debt payments? Have you incurred late-payment penalty fees, higher interest rates, and increased monthly minimum payment amounts?

Have you thought about bankruptcy?

Unemployment, a devastating health problem, a family death, an unsuccessful business, or something else could have ruined your finances. Regardless of the cause of your credit card debt troubles, you can avoid the distress and negative thinking about bankruptcy or predatory creditors with some basic knowledge of unsecured credit card debt.

According to the Credit Card Debt Survival Guide, it is important to understand the realities of credit card debt collection. If your account is in arrears, it is one of millions of accounts in arrears. In the last 12 months, eight percent of American adults (18 million people) have been late making a credit card payment and have missed a payment entirely, according to creditcards.com. If you account is sold to a junk debt buyer, it is one of tens of thousands or hundreds of thousands sold in a package of junk debt for ten cents on the dollar or less.

The credit card companies plan for bad debt and understand a small percentage of consumers simply cannot pay for whatever reason. But to credit card debt collectors, according to the Credit Card Debt Survival Guide, there are two kinds of credit card debtors; the small number who resist debt collection efforts and the majority who do not, or do so ineptly out of ignorance.

The safety and security of consumers with late credit card debt is in the millions of delinquent accounts and the pennies per dollar each account is actually valued at. Should a credit card debt collector spend a lot of time fighting with a defiant consumer or just move onto one of many other consumers ready to submit? Consumer debt collection is a growing industry. If a credit card debt collection agency only succeeds with 50 percent of it's charged off accounts, it is very lucrative.

With a knowledge of the Fair Debt Collection Practices Act and its use, a grasp of your state's consumer protection laws and, if needed, your local court's rules of civil procedure, you can begin defeating credit card debt collectors.