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Credit and Debit Cards

~18400 answered questions
Parent Category: Credit
Credit cards are instruments that facilitate revolving debt for consumers so that they may acquire goods and services and pay the card issuer the amount of the charge plus interest at a later date. Debit cards pay for purchases at the time of sale by deducting the amount immediately from the consumer's deposit account.
Time Limit on Charging a Credit Card You have one year from the date of purchase to charge a card. To confirm this, call the 1-800 number for merchant services for whatever card you want to charge (i.e. Visa/MC) and ask a customer service representative. For example, if the card is a Visa, call…
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Differences Between Cash and Credit Charge Rates Cash is an acceptable form of compensation to pay all debts, public or private, "legal tender". Credit is only an equivalent. Merchants charge higher prices for credit in order to defray some of the costs associated with accepting credit cards. A…
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You should be running an 'AVS' check which means the customer tells you the billing address of the card and you are only supposed to ship to that particular billing address. If the charge is disputed you can demonstrate that in fact you shipped to the proper address, if not you will lose the chargeb…
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Credit card transactions are completed using a 128 Bit SSL Encrypted Secure Transaction, SSL uses public-key encryption to exchange a session key between the client and server; this session key is used to encrypt the http transaction (both request and response). Each transaction uses a different ses…
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How a Credit Card Company Makes MoneyCredit Card Companies make money in a number of ways.1. Fees (annual fee, overlimit, past due, etc)2. Interest on the revolving loan if a credit card balance is not paid in full each month.3. The card Issuer [the bank that issued the card and/or the issuer networ…
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When looking into accepting credit cards, remember that credit card transactions and credit card processing are a business in itself. The main goal of merchant account providers and credit card companies is to make money. This is a business that you are paying for. Therefore, it is important to eva…
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Although the funds you receive from credit card payments are not immediate, take into consideration that you will get paid by the credit card companies much faster than you may get paid by the customer. It can take weeks, or sometimes months after you issue an invoice for a customer to issue you a c…
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Passing the Buck Many small businesses have concerns about the transaction fees associated with accepting credit card payments, and that is what initially scares small business owners away from accepting credit cards. However, before you dismiss the idea, there are some options that you need to c…
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Taking credit increases your average sale and adds new customers to your business. If a person only has $20 for a haircut, they can't buy anymore than $20. If they can use their card at your salon, they can impulsively buy a haircut and shampoo for $25+ Accepting credit cards as a form of payment al…
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Differences in Credit Card Types Accepting different types of credit cards can benefit your business in several ways. First, and foremost, it is always important to give your customers the most options possible. Giving them the option to use Visa, MasterCard, American Express and Discover will …
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Accepting Credit Cards Online If you are an online merchant, your rates will automatically be higher. Credit card companies charge more for online merchants because they perform non-present transactions. In other words, the customer is not physically present when making the purchase, so you do …
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When you process a credit card transaction, you will find out almost instantaneously whether or not a credit card payment has been accepted or declined. Once you run the credit card, the information is transmitted to the bank for authorization. The acquiring bank that processes the transaction route…
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The online billing goes to the merchant who in turns processes it through the credit card company.There is a back-end process to credit card captures. First, the payment details goes through the merchant via a secured form. Then it is sent through the payment gateway linking the site to the financia…
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If the rest of the engine is sound, replace it with a crank kit. If the engine itself was in poor shape, it would be best to rebuild the engine, or get one from a salvage yard.
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I'd suggest using WD-40 to un-stick it and THEN use Tri-Flo to keep some lube in there because WD-40 evaporates.
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How a home is handled in bankruptcy depends on the type of BK filed, state or federal or a combination of the two. In chapter 7, all nonexempt assets are liquidated to pay creditors. The state or federal homestead exemption would apply in regards to the home. In a chapt. 13, debts are consolidated a…
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740 or better beacon score however dealer can set higher standards on this if it is a higher priced vehicle.
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%DETAILS% Absolutely, positively, not.Find out what car dealers don't want you to know at www.dealertricks.com   Sales agreements are not binding to any party however sales contracts are. You are not legally bound if you did not sign the sales contract. Consequently you may have a credit i…
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%DETAILS% This fee is the equivalent of a franchise fee that a McDonalds restaurant might pay. A certain percentage of total sales are paid in to a fund for advertising for all stores.It's not that the fee isn't negotiable, but it is part of the dealers cost for the vehicle. Some invoice charges …
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The only way I know is to buy a calculator that can figure interest rates. If you have a friend who is an engineer he probably has one.You can also keep the math simple. If you were to finance a vehicle for $12,000 @ 60mo with no interest or 0% your payments would be $200 a month. At $18,000 they wo…
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%DETAILS% Answer Certainly, if that insurance companie excepts that form of payment
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When thru this in Aug of 2005 and AZ DMV was going to revoke title, registration, driver's lic, and chg me a $50 fine unless I fixed promptly; had to buy AZ Auto Insur coverage versus NC insurance; specifically asked if NC coverage would work and was told "insur has to be written in same state as au…
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%DETAILS% Answer the finance company won't let you get your name off of it. That way they can keep you on the hook since he can't pay for it. it will hurt your credit, but if you have a car you pay for on your credit and explain in the future what happened, you should be able to get another l…
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It means YOU will be paying for a car someone else is driving. it means lenders and collection agencies will be calling YOU and bugging YOU while they ride around listening to CDs. It means YOU will be getting letters in the mail about judgments while they drive around lookin purty. It means YOU wil…
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Melanie, ANYTHING that has to do with how you pay your bills will affect your credit. Anything good will help and anything bad will hurt. A repo is on the BAD side and a settlemnt is usually on the good side. How the creditor reports it to the CRA will affect how good or bad it looks. The method of …
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It helps your pocket but NOT your CR. The repo is still there unless you negotiate with the lender to remove it also.
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Mike, actually IF you can prove the injury happened during the repo and was the agents fault, you will come out ahead. Now if the agent had cameras on the truck as most do, you may face an uphill battle. Otherwise, it will be a you said/ he said spitting contest as to who is right and who is wrong. …
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YES, if they want to settle it. Make them a CASH offer.
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finance company wants me to pay $7500 for deficency balance!!! Of course, they want all the money now.And they can legally demand it. Can I negotiate for a lower payoff? Certainly you can and should. If so, please give me stratagies or good advice....1 best stratagy...CASH2 " " well prepared plan to…
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B/K is very seldom the BEST way. How much CAN you pay on a REGULAR basis and still live?? $50.00 a month? %40.00?? That may be cheaper(per month) than garnishment. You can hold your head up and say "I pay my bills". Whatever.. That is the BEST way, pay your contracted debts and get on the way to a d…
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YES, states honor each others judgements. Same as suspending your DL cause you got a ticket in another state.
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%FOLLOWUPS% As a rule of thumb, you will owe the difference.
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I am NOT a credit score exprt, but anytime you pay what you owe it looks good.Anything positive helps a bad score. Good Luck and congratulations on the payoff.   It may not help your credit score, but a friend of mine had a repossession through Ford Motor Company several years ago. He then fi…
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Brian, were you the co-signor on the loan??? Otherwise, NO. How could you be responsible for someone else's debt? YOU would have to sign the loan. Sounds like a collector trying to smoke ya...
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Demand VERIFICATION of the debt. Dont say or do anything until you have verification in your hand. THEN you can prceed to make a plan. Someone somewhere had to have gotten a JUDGEMENT against your husband for the balance owing. The judgment has to be in effect for them to try to collect.
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Depends on what interest rate the card charges and what the bank charges. Probably NOT. Your CR already has a repo on it, paying it off wouldn't remove that unless you did some magical negotiations with the bank, soo what would you gain?? Good Luck
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IF they follow the laws of your state, YES. A repo is a repo is a repo. they may also be able(and more likely if you have a job)to garnish your wages. NEGOTIATE with them, they would much rather have money than the car. TRY to sell the car. Good Luck
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4 years on promissary notes. A judgment occurs when a creditor takes you to court and sues you for money you owe them. They must do this before the statute of limitations has expired for the original debt.
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the original creditors claim should drop off and the CA claim stay. Double?? Likely, the unterest and fees are building up. Try to settle this somehow. They WILL deal.
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READ your comtract on the loan and the card. Word to look for: cross-collateralization   NO they cannot. Credit cards are unsecured loans. (not secured by any property/collateral) You can have them discharged through bankruptcy.   YES THEY CAN. Read your contract. I'll bet it says they…
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The lilelihood is very good, almost certain, you will have a balance due after the sale. The only way they could get the full amount due is IF you had made a HUGE downpayment. You will have a repo and a judgment on your CR IF you don't pay any deficiency balance.
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%DETAILS% I suggest you contact a local attorney for advice on this question. You could end up filing charges against the person. Have you contacted the person about payment or return of the boat?   It's "theft by deception".File charges and sue for all expenses.
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http://www.NationalScoreIndex.com. Overall, the study found that: The average Experian PLUS(SM) Score for consumers with no late auto payments is 689 versus 596 for consumers with at least one late auto payment. When a payment is late by 90 or more days, the average score dropped to 574. * 1.5 …
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YES, read your contract again to see what you agreed to. Tx is still part of the United States so the laws are still (mostly)uniform across the land.
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IF you can pay it off AFTER it is sold, it will still show as a repo on your credit. BUT if you can payoff then, pay it off NOW and you get to keep the CAR.
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IC 35-43-4-5 Defenses Sec. 5. (a) An owner in possession of encumbered property does not commit a crime under this chapter, as against a person having only a security interest in the property, by removing or otherwise dealing with the property contrary to the terms of the security agreement, even if…
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IF the CA was assigned the debt by the lender, IF the CA bought the debt from the lender, most important, IF there was a judgment against the debtor. YES. 6 yrs of interest adds up.   YES
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Yes you do. They are the lawful owners of the car until the loan is paid in full. In some states you could be charged with concealing mortgaged property.   Not in the state of Arkansas you don't have to tell them where the vehicle is at...I know because I went through this myself about 4 mo…
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IF the lender reports it to the CRA, it will. FWIW, title pawn lenders USUALLY dont report it. Too much work and paperwwork for them. LOL
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IF you mean not paying the shop bill, YES. IF they followed proper procedures(paperwork,leins,ect). This varies by state. Its usually called a mechanics lein, Workmans Lein,ect. Call a local attorney for state specific advice.
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READ your contract. Likely the answer is YES.
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What does 30 days have to do with you signing a contract to pay X number of $$$ per month for XXX months?? Is there something in the contract about "30 days"?
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The lender will tell you ASAP after the repo if you call and ask. Or they will send you letters stating the BALANCE due after the car is sold. Communications is the way to go.
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Sure, they will. And sell the loan to someone else at a discount and the whole thing starts over again. NO candy for you.   Maybe, but they will always be looking for "their" car.
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The SOL starts when the Lender gets a JUDGEMENT for the balance due.IF the judgment is sold correctly, it can stretch for a long time.
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Not likely, unless you get a REFUND. Or stay in one place tooo long.
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Read your CONTRACT. You have to be in DEFAULT of the contract for the lender to repo. If you are current on payments, what else can you be in default of?? INSURANCE coverage?
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NOT if you dont give it to them. The usual procedure on the 1st repo is pay all the back notes,fees,ect. and get the car/truck back.
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best track be to volunteer turn in one car, quit paying credit cards, once repo gets judgment against, file Bankrupsy? BEST track be to keep both cars, GET TWO JOBS, pay off cars & credit cards,live happy ever after in FL or PA or where ever the JOBS are. You CAN do it. The contract you are want…
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Its a GAMBLE to see how long you can wait to pay. If the lender sends the repo order out on Thursday, you pay after businnes hours on Friday, you will likely lose the car and the money before Monday morning. Then you have repo charges to pay to get the car back. Dont Gamble.
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To the best of my knowledge, YES. Thank you for including what state you were inquiring about.
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"debtors" can never repo cars, LENDERS can, even after you make 'arrangements". As long as you are in "default", they can repo.
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The lender will tell you the balance due to payoff the loan. YES, it wil most likely include interest. Read your contract.
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looks like 6 years. AFTER they get a judgement, they can garnishee your wages, ect. NO JAIL.
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Yes, you are required to make the payments, before and after the car is repossessed, after the vehicle is auctioned you will receive a letter from the bank stating what your car was auctioned for and the remaining balance you are required to pay. just to end the ultimate myth if you surrender you ca…
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Hi,yes every single debt will be erase,the only debts you can't erase with bankruptcy are past due taxes,everything else is wipe out,thats why is called "fresh start" .
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IF you knew the original lease date, you might be able to backtrack thru the UCC listings in TX. OR you may be able to track the VIN in the same place.
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A Writ of Replevin is a court order for the debtor to turn over the property. If the debtor doesnt do so, the debtor is in contempt of the court. What happens to people who are in contempt of a court order? They retire to more peaceful surroundings to consider their need to obey the court order.
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I would have to agree with previous note. I am going to assume that you are the one hiding the vehicle. People like you just don't get it. Finance companies like the one I work for are gonna get you directly or indirectly. Go ahead and hide the vehicle. Let the finance company charge it off. Then go…
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Look at ORS 164.135 (c) (2), does that qualify???
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A repo is a repo is a repo, credit wise.
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You can sell it. Just call the finance company and see what the cash pay-off amount (the minimum cash amount that they will accept in order to give you the title free and clear) is. Sell the car for an amount equal to or more than the cash pay-off amount. Take the cash to the loan company and pay o…
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%DETAILS% Answer Once the divorce is final - the non-working spouse is no longer eligible for coverage. Claims would be denied. The ex would be elibible for COBRA though. For more details see http://www.steveshorr.com/dependent.definitions.htm www.steveshorr.com/cob…
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Yes, as long as there is a police report and all repairs have been documented, pictures invoices of parts used ect. This answer "yes" does have its limitations based on the laws of the state that the accident occured. I own a shop in New Jersey and have helped many customers resolve accident related…
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More than likely the driver of the car would be held responsible. Obviously the owner could not give permission for the car to be driven. This is a situation that can become very complicated and costly. Consulting an attorney would be the best course of action.
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There is a warrant for arrest given- You had better go and face them, or matters are only going to get worse- when you least expect them. Remember, they can come looking for you.
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The question is a bit vague. I'm assuming that you really mean: Can your spouse be deported if you are a US citizen? The answer is yes. Anyone in violation of immigration laws can be deported. In some cases, the deportation can be stopped if it can be proved that said deportation would cause undue a…
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A green card (also called permanent residency) is the middle step to citizenship. However, overstaying is an action that the US Citizenship and Immigration Services (formerly I.N.S.) takes seriously. Deportation proceedings will usually be conducted against an overstayer and he or she would not be g…
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Most of the time it won't unless the managers or owner ran a credit check before you moved in, if so it would be listed as "public record" on your credit report because they had to file an eviction notice at the courthouse in order to get you out.  The actual eviction does not show up in the b…
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Differences Between Cash and Credit Cash is an acceptable form of compensation to pay all debts, public or private, "legal tender". Credit is only an equivalent. Merchants charge higher prices for credit in order to defray some of the costs associated with accepting credit cards. A merchant decid…
Popularity: 94
Generally to get one's own card requires the person to be 18 years of age. However, if oyu want to "share" your car the you can apply for him as an extra user - they may even print one with his/her name - but YOU retain the responsibility of payment!
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Reporting Credit Problems? You have two choices: 1) Do something 2) Do nothing I don't mean to be glib about your question, but that is what it comes down to. If you begin informing people for your own protection, which is what you SHOULD do, they will get in trouble. If you don't, you might have is…
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Collection dispute This would actually be a good situation. The bureaus have a limited amount of time to investigate and validate the credit item. If it cannot be validated it must be removed.
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Re-applying for credit Inquiries remain on your credit history for 2 years, and will affect your scores and ability to attain credit. Mortgage and Car loan inquires are a little different: the bureaus allow for "shopping time" so that multiple inquiries of this type of credit only count as one …
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Fix Bad Credit 1. DELETE COLLECTION ACCOUNTS Did you know that paying a collection account can actually reduce your score? Here's why: credit scoring software reviews credit reports for each account's date of last activity to determine the impact it will have on the overall credit score. When pay…
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Why payoff collections when you have a bona-fide chance in getting the collection deleted by disputing it with the bureaus that are reporting it, as per "The Fair Credit Reporting Act". The original creditor already wrote it off as a loss on their taxes anyway and in most cases sold the debt to a co…
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Hiring a Credit Repair CompanyHere are some things to know about credit repair companies. By law (see The Credit Repair Organizations Act), credit repair services must give you a copy of the "Consumer Credit File Rights Under State and Federal Law" before you sign a contract to repair credit. Credit…
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Many people today are looking for prudent ways to raise their credit score. Are you? You have certainly come to the right place if this is the information you are seeking. In an effort to help anyone improve their credit score, we are going to present several tips that will almost guarantee that you…
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Credit scoring systems enable creditors to evaluate millions of applicants consistently and impartially on many different characteristics. But to be statistically valid, credit scoring systems must be based on a big enough sample. Remember that these systems generally vary from creditor to creditor.…
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In a debt replayment plan, you deposit money each month with a credit counseling service. Your deposits are used to pay your creditors according to a payment schedule developed by the counselor. As part of the repayment plan, you may have to agree not to apply for ? or use ? any additional credit wh…
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the person Equal Credit Opportunity Act This act, passed in 1974 and monitered by The Federal Trade Commission, ensures that all consumers are given an equal chance to obtain credit. This doesn�t mean all consumers who apply for credit get it. Factors such as income, expenses, debt, and credit his…
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It depends on whether your debt is secured or unsecured. Unsecured debt is when your debt is not tied to any asset. Examples are credit card debts, credit lines, unsecured personal loans, etc. If your debt is unsecured, you should avail of the reliable services of a professional credit counselor.…
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