Category Archives: Discussion

Don’t Ever Give Your Bank Account Information to a Debt Collector

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I found the great article from the internet that might help you to safe your bank account from being stolen. The title is never give your back account information to a debt collector. I made a little change for the title but I put the complete contain on it. Please read this article taken from the credit dot com and learn from it.

 

If you’re dealing with a debt collector, you should think twice before you give them your bank account information. By providing this information you’ll give the debt collector direct access to your bank account! Find out what Gerri Detweiler advises for one unsuspecting consumer that may have learned the lesson a little too late.

Q: I received a call from a debt collector because I stopped paying a gym membership. While we were talking, she said that they could set a payment plan. She also asked me for my bank’s name. I gave it to her, but I did not what to pay for that at all. She also said she had my routing number and she needed a check number – which I did not give her. I am worried because I think they are going to start taking money from my bank account. Should I call them back and tell them that do not want to make a payment and cancel my bank account?

A: In my book Stop Debt Collectors: How to Protect Your Rights and Resolve Your Debts, which I co-wrote with Mary Reed and attorney John Ventura, we recommended that you never give your bank account information to a debt collector. At this point, I am not sure whether the debt collector will try to take payment from your bank account, but if they do, it may be a matter of your word against theirs.

If you did not authorize payment from your account to the debt collector, I would recommend you talk with your bank immediately and find out whether you need to close the account to protect it.

If you owe this debt, and it’s not too old (outside the statute of limitations) you do need to negotiate a settlement with the debt collector so you can resolve it and move on. Figure out what you can afford to pay and discuss a lump sum settlement. If you can’t afford to pay anything right now, then tell the collector you will contact them in a month to update them on your status. Keep in mind they may sue you to collect, but whether they actually will depends on the amount of the debt and whether they believe they can collect if they do win their lawsuit. By Gerri Detweiler

The Start Up Loan for You

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The Good Financial Institution

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The manager of the good financial consultant forum,
Recently, I have just read that there are two bank closed by Central Bank. Formerly, I think that this sector is getting better, but bank liquidation occurred like what happened on last crisis. The point I am going to ask is how is the easy and simple way to see the healthy grade or the safety for saving the fund?
John – USA

Answer:

Indeed, we feel sad there are still bank liquidated, because the customer get the effect of it. But believe in me that am the best choose and I think the government has considered the risk. Indeed, the banks are not healthy and need closing for not giving the loss to the customer. Indeed, the money people saved in bank is guaranteed by government. So when, they are closed down, it will pay the customer money in their banks. But, this policy isn’t forever. Since ideally, it must not run great risk to that problem.
Therefore, the customers have to be careful in choosing the health bank. To start this, there are some points for caring:

1.    The first one is CAR (Capital Adequacy Ratio).  This ratio show how much is the capital of bank compared to the asset. And its asset has already considered the risk. The minimum number considered good by bank is 8 %, the higher the better.

2.    And the second is NPL (Non Performing Loan) or the gradation of jam credit. This number show how many present of trouble credit from all the credit borrowed by the people. Ideally, NPL of bank is not more than 5 %, the smaller the better. Those two numbers can be seen from the bank financial statement issued on mass media periodically. Or you may ask to the customer service of the bank. Actually, there is still one good way to know it, yet it can’t be a certain measurement, but very simple for an ordinary man. That is by comparing the interest rates of deposit, if there is bank offered a very high interest, just be careful, it has a big risk. Furthermore, if the short deposit interest is higher than the long one, it means the bank is not well and need “fresh blood “. One more time, it can’t be a real measurement, but the first assumption shows it. And this way can be seen for syaria bank. It the opposite, the higher the resulted by this bank, the higher the work of bank. This is because the result gotten by the bank is the result in managing the money. Not the interest given in advance and can be a burden if the effort is not maximum