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 identify 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 at least 2 credit cards and 14% of them have 10 or more credit cards.
Debt consolidation Policies of ACB (American Council of the Blind) American Inc.
Other Names:
American Council of the Blind
Physical Address:
1155 15th Street NW,
Suite 1004, Washington, DC
Phone #:
(202) 467-5081
Fax #:
(202) 467-5085
Their Cut (Fair Share):
Electronic Payments ->
?
Paper Check -> ?
Late Fees Charges:
n/a
Interest Rate Charged:
0%
Fresh Status:
Fresh Status achieved after 3
months of regular on time payments.
Minimum Payment Accepted:
Debtor must pay 3% of the balance
or $10, whichever is higher.
Account #'s:
n/a
New Policies, Notes:
n/a
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.
