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When a finance charge is calculated on the average daily balance when should consumers pay the bill to keep finance charges at a minimum?
Paying the bill as early in the payment period as possible will make the average daily balance lower and therefore minimize the finance charges.
What will happen if a partial payment is made on a credit card?
If your payment is smaller than the minimum monthly payment, you'll incur finance charges, under-minimum fees, late charges, and so forth; your account may be listed as past due as well.
You had a credit card with Household Bank that went into collection you've been paying the collection company every month for 2 years but your balance keeps going up what can you do?
What is the Annual Percentage rate set at? Are you making more than the minimum monthly payment? Is the collection agency charging any monthly fees? If you are making a $10.00 a month payment and the finance charges are $8.00, only two dollars is being applied to wards the balance, each month. Check to see how much of your monthly payment is going to the finance charges and then increase your monthly payment to cover the minimum monthly payment and finance charges.
What is a finance payment?
all about financial problems
Did international lease finance corporation miss a bond payment?
no
Can a interest be charged on a late fee?
No. But what will be charged on a late fee, will be reflected on something known as your your finance charges. Finance charges will go up if you are late making a payment on your credit card.
When a finance charge is calculated on the average daily balance when should consumers pay the bill to keep finance charges at a minimum?
Paying the bill as early in the payment period as possible will make the average daily balance lower and therefore minimize the finance charges.
What will happen if a partial payment is made on a credit card?
If your payment is smaller than the minimum monthly payment, you'll incur finance charges, under-minimum fees, late charges, and so forth; your account may be listed as past due as well.
You had a credit card with Household Bank that went into collection you've been paying the collection company every month for 2 years but your balance keeps going up what can you do?
What is the Annual Percentage rate set at? Are you making more than the minimum monthly payment? Is the collection agency charging any monthly fees? If you are making a $10.00 a month payment and the finance charges are $8.00, only two dollars is being applied to wards the balance, each month. Check to see how much of your monthly payment is going to the finance charges and then increase your monthly payment to cover the minimum monthly payment and finance charges.
What side of ledger is payment to creditors?
credit
Transaction that will decrese an asset anf decrease a liability?
Payment to the creditors Creditors Decrease Bank balance decrease
Can a finance company give out informantion on the phone about your payment history?
Unfortunately, they probably can. Original creditors are not bound by the Fair Debt Collection Practices Act (FDCPA) as are 3rd party debt collectors. However, somes states do include original creditors in their state version of the FDCPA. Check your state statutes.
Letter of credit definition in Philippine terms?
A Letter of Credit can be issued in the Philippines as a way to ensure that payment will be made to creditors. If the beneficiary does default on his payment, his bank will pay his creditors what is owed.
What are the risks of having a high interest rate?
Having a high interest rate greatly affects the account it belongs to. It will add up to high finance charges which will increase the balance, increase the monthly payment, and lower the amount of the payment that applies to the principle.
What is a Hardship agreement credit card companies?
A Hardship Agreement, is when you as the consumer agrees to pay the minimum payment with no APR, or finance charges for a number of months. This is the last option you have to pay your debt.
What is a finance payment?
all about financial problems
How long after a missed car payment does the finance company repossess the vehicle?
The question is, "Why would you worry about a missed payment when you have interest in the vehicle?" The money that you used as your down payment and any payments you have made total your interest in the vehicle. Why are people running from the repo man when in fact you can place the finance company on notice that, if your interest is repossessed, you will file criminal charges in federal court against the finance company and get triple what the car is worth. I guarantee you they won't take it. You can also put a mechanics lien on the vehicle to protect your interest in it.
