Can a Creditor Levy a Bank Account More Than Once to Satisfy a Debt?
A creditor can levy a bank account more than once to satisfy a debt. If a creditor has a judgment against you, the creditor can direct a Court Officer to levy your bank account on multiple occasions, without notice, until a debt is paid in full. Continue reading
Banks could grant cards, loans to people previously unable to get a credit score
By ANNAMARIA ANDRIOTIS
Millions of Americans unable to obtain credit cards, mortgages and auto loans from banks will receive a boost with the launch of a new credit score aimed at consumers regarded as too risky by lenders.
The new metric, set to be announced as soon as this week, is being developed by Fair Isaac Corp., creator of the most widely used consumer-credit scores, and is being tested in a pilot phase with credit-card issuers. Fair Isaac said it hopes to make as many as 53 million people who don’t have credit scores more acceptable to lenders.
People without scores in most cases don’t use debt either by choice or because a negative credit event, such as a bankruptcy, foreclosure or a collection account, has shut them out of mainstream borrowing. Continue reading
New Ways to Improve Your Credit
by: Jonathan Goldsmith Cohen
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Post-bankruptcy, the best way to improve your credit has always been making your car payment on time every month and making your mortgage payment on time. But what if you don’t have a car payment or home mortgage? How can you improve your credit score to obtain credit cards, qualify for a car loan, and when you are ready, get a home mortgage? And what if you are such a weak credit risk that you do not have a FICO score? Continue reading