1. If you spend more than 50% of your credit limit every month, this indicates to the Credit Bureau that you do NOT have enough cash on hand to meet your monthly expenses. This will term you as a high credit risk and will actually reduce your credit score by 60 - 70 points overnight (Fair
Isaac).
2. If you miss 1 or 2 payments on your credit card debt, the issuing company will skyrocket your interest rate to a whopping 27% -
30%!
3. Out of a random sample of 3 million American consumers (included in Experian's National Score Index), 51% of them have atleast 2 credit cards and 14% of them have 10 or more credit cards.
This company will accept nothing
less than 100% of the original debt payment amount.
Account #'s:
New Policies, Notes:
- A & S Collection Associates
is a debt collection agency and has no debt consolidation
plans for its clients. It therefore does not accept
anything less than 100% of the original 100%
of monthly payments.
Other Names:
This is the other names that the debt consolidation firm possesses.
You can use these other names to check Better Business Bureau
(BBB) records of the firm.
Physical Address: This
is the physical location of the debt consolidation firm. If the
field is blank, please help us by providing us with the address
of the firm.
Phone #: You can reach
the debt consolidation firm at this phone #.
Their Cut (Fair Share): The debt consolidation firm will negotiate your debts with other
creditors. In this, they will also take their "cut"
or "fair share." For example, if your monthly payment
is $400, the debt consolidation firm will deduct an automatic
10% of this ($40) and pass on the $360 to the creditors to
whom you owe debts.
Late Fees Charges: This
is the charges they put against any late payments you make
while on your debt consolidation program.
Interest Rate Charged: This
is the reduced interest rate you will be paying to your creditors
whilst under the debt consolidation program.
Fresh Status: If you pay
your bills regularly every month, the creditors might give
your account a fresh status and re age your accounts.
Minimum Payment Accepted: This is the minimum monthly payments you must make to your
creditors whilst under the debt consolidation program.
Account #'s: This is the
pattern with which your creditors assign Account numbers.
This will help you in locating any of your creditors.
New Policies, Notes: This
shows any new policies being implemented by your creditors
that will affect your debt consolidation program.
