Category Archives: Banking/Money/Finance
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What to expect when processing an Injured Spouse form with an Amended Return……
Posted on August 26, 2011 by MANIFEST ME! in Awareness, Banking/Money/Finance, GeneralA few years back I wrote about filing an injured spouse IRS 8379 and receive a massive response from people all over the word. There is a problem when you get your tax return and realize that it is not what you were expecting because of your spouse’s past debt obligations. Or maybe you didn’t receive a tax return at all. There is a solution to being married and still receiving your part of the money. Often times, in community property states your spouse may not even worked all year but you filed together one can still possibly receive their portion of the tax rebate when one files the injured spouse form.
This year the IRS really was backed up in processing injured spouse forms. You can complete you injured spouse form with your tax return or you can send it in after the fact. I would like to share one major deal that happen this year with someone I know in processing an injured spouse form with an amended return. By all means if you are a first timer, you can ignore what “where’s my refund” says because once the IRS actually starts to process the return the site will not be updated with any refund information.
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MyFICO score +79 point in 2 months!
Posted on April 29, 2010 by MANIFEST ME! in Banking/Money/Finance, Manifest MeEvery year for the past three years I have been getting a free annual credit report. Sometimes I would go the extra mile and pay to look at my score. This year, 2010, I have taken everything more seriously.
So, In March I paid for myFICO will TransUnion and Equifax, Experian no longer was available through MyFico.com so, I went to Experian website to get that score. I notice that some stuff had fallen off that was hurting my score. My score had improved but it was still bad. So, I disputed a couple collections items that were listed more than once, same account but different agency.
Look I am not perfect and my credit is improving. So many of you can witness my testimony of needing your credit improved but you don’t know exactly how to do it. I was always told that a credit card would or unsecured lines of credits would help you bring your credit score up.
The issue about that is…. When you have bad credit…. No one gives you a credit card. If you can get a credit card from one of the bad-credit card companies such as Orchard Bank; the fees are OUTRAGEOUS and on top of that you start with a very low available balance. The catch to those types of cards is they charge you with some product up front on how to build your credit and then you have to figure the rest out.
Here’s my story….
I received a letter from a debt collection agency over a year ago named Jefferson Capital. It was a small debt; the debt was about 3 years old. The debt came about from a credit card that I had. My husband and I both had great jobs and we were fixing to close on a brand new house built from the ground up. On the same day, I lost my job and two months later he lost his. We didn’t close on our house. We lost a brand new SUV that we had just purchased. Hadn’t had the car two months and could not afford one payment. Things got bad, but we had experienced worse. So, I had a great deal error going on.
So, when this agency contacted me, I tried it. The payments were low $21 for 12 months and then the balance would be transferred to the new credit card. With 0% interest, it sounded too good to be true. I paid the debt in 3 months. I got the Emblem MasterCard two weeks after my final payment. I have had the card for a year and received credit increase every three months. I have always paid down the balance.
Everything bill that I pay online using my debit card; I apply those payments to my credit card and use my credit card to pay bills. So, when its time for my statement, it show that the card has been used but my balance is paid down. Which give me a positive credit to debt ratio when its time for them to report to the credit bureau on a monthly basis. So credit cards are not of the Devil. If you use them wisely, it can truly help you.
What happen with the disputed items…?
I told you that we couldn’t afford to pay anything right… Well, we had repossession on our credit for $25,000 for that SUV we bought. That would really some damage to your credit report, right? Remind you that was only three years ago. So, it was hard to get a car. About a year ago when I pulled my credit and got all the account updated to make sure it was accurate, the repossession showed up as if it had just happen. Drop our credit score again!
In March, I know I was opening up a can of worms to check the accounts but I checked into the item. This time, instead of updating it the repossession and the collections agencies on the repossession were deleted from my credit report. I thought it would raise it dramatically but it only raised my score 19 points. I had received a 50 point increase in two month just by paying my balances down on my credit cards.
We received a letter from the collection agency in which finance our vehicle on behalf of the banking institution and all account that there was a $0 balance and the repossession had been removed as if there was no account for it at all. That in and of itself was a miracle! I was honestly trying to check into items so I could really get my credit cleared up. God went above it and wiped it clean!
So two months +79 increased in credit score. I can’t wait to see what it looks like in 6 months!!
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Avoid the Default!!
Posted on November 20, 2009 by MANIFEST ME! in Banking/Money/Finance, General, online college helpI know that you hate to pick up the phone and on the other end of the line find a bill collector. But one thing you do not want to avoid is Student Loan collections. Having your Student Loan to go into collections is by far one of the worst things that could result in damaging your credit dramatically. There are ways to prevent default.
First you need to know that your student loan can not be cleared through bankruptcy. It is with you for life, through thick and then the ups and the bad. You have to pay it! So don’t go to school thinking you can skip on this note.
If you are facing rough times there are many deferments you may qualify to receive to postpone your payments. Then if you don’t qualify for a deferment, ask for a forbearance. Having a forbearance allows you to temporarily postpone or reduce your loan payments. You are responsible to pay the interest that accrues during the forbearance period. Unpaid interest may be capitalized which is interest added to your loan principal. Then the capitalized interest will increase the amount you owe, and may result in a higher monthly payment after the forbearance period has ended.
If you are behind, contact your lender immediately. If your loan goes into default you may be:
- Unable to obtain federal student loans in the future
- Be assessed up to 22% in collection cost
- Have up to 15% of our wages garnished
- Have you income tax refunds withheld
- Damage your credit rating
- Be contacted by a collection agency
- Be unable to obtain loans in the future to purchase a car or home.
These matters can easily be avoided if you contact your lender right away. Remember if you are experiencing financial hardship there is a way out and help is out there. You can not solve the problem with avoiding it. Reach out to your lender to see if you qualify for a deferment or forbearance to postpone your monthly payments.
Peace, Love, & STILLETOS!!!
TaWana
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Delete bad credit?
Posted on April 20, 2009 by MANIFEST ME! in Banking/Money/Finance, GeneralCan Bad Credit be Deleted?
Yes, it can. Despite the fervent proclamations of bureaucrats and credit bureaus everywhere, a simple fact remains: negative credit listings are deleted from peoples’ credit reports by the thousands each and every day. (more…)
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Getting around the “check hold”
Posted on April 20, 2009 by MANIFEST ME! in Banking/Money/Finance, GeneralGetting around the “check hold” on bank deposits…
Most banks will not tell you this but when you bank with an institution in which you can make deposits through the ATM, you may be able to beat the “hold” when you are depositing a check.
I love this option of being able to a make a deposit through the ATM. I would not bank with out it. But you must know your bank cut off times in order to (more…)
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“me” fund….
Posted on April 19, 2009 by MANIFEST ME! in Banking/Money/Finance, GeneralWhat is the 1st step in saving ….
It’s called paying yourself first! You pay all of your bills, but do you ever pay yourself first? Get yourself a “me” fund. Whether it be a prepaid visa or master card
a savings account or what ever. Get an account that is for the benefit for yourself. Take about 5% and pay yourself first. If you get your paycheck by direct deposit separate it and put it into a different account where you don’t see it.Most of the time if it is doesn’t end up in your hand it is easier to pay yourself. I did this…. I felt like I could not afford to pay myself. But I started putting at least 5% of my income per pay period for “me”. Now, my husband knows about my “me” fund. I don’t calculate my “me” fund into my income because I don’t want to consider it as money available for bills and etc.
So, the first step into building a savings account is get you “me” fund. Take atleast 5% of your income start building up your “me” fund. You deserve it right!
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mon”How to” write a check
Posted on April 17, 2009 by MANIFEST ME! in Banking/Money/Finance, GeneralHow to write a check?
Well, while you may think checks are becoming obsolete, they are still in good use. Older people that are not familiar with check cards such as a visa or master debit card, continues to make good use of checks. While a younger person getting their first checking account may not know the first thing as to writing a check. Then you figure, why even get them if they use their debit check card? Well, I will tell you why…
I have met people that had no knowledge of a banking account and didn’t know how to write a check neither. Yes, they use their debit check card for everything. But, when it is time to make a rent payment, they run and get a money order because the office doesn’t accept Visa or Master, when all along they could have just taken out their check book and written a check. What I will tell you is that I have noticed that many convenient stores do not sell money orders anymore. So, what happen when you can’t get a money order and they don’t take cash or card? You write a check! (more…)
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What age were you?
Posted on April 10, 2009 by MANIFEST ME! in Banking/Money/Finance, GeneralWhat age were you when you got your first checking account?
I met this girl who never had an account before. She just moved to the area and needed to cash her check from her new job. No one wanted to cash it because she didn’t have a local ID. The information on her ID did not match her check stub. We went to every check cashing place in the city.
So, I told her I was taking some personal time to make sure she did not have this problem again. Luckily she found a bank that would use her out of state ID and another form of ID to open up a checking account. She set her direct deposit up but the next check she had received was a paper check. It took a couple of pay periods to get the direct deposit on track.
Since she had open a bank account she didn’t realize that if someone wrote her a check that she didn’t have to deal with the issue of finding a business or a bank to cash it. She was not stupid, she just didn’t know. She was inexperienced in this area and she is over 21 years of age.
I am shocked but there are so many other young adults that has no knowledge of the banking system itself. So, that is why I have started writing more about finances.
I may not use the huge financial system words that other blogs are website may use. I want to speak or write in common terms that any ordinary person will be able to understand. =) So, be looking for more post about finances!
TaWana S.
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Need a Bank Account?
Posted on April 9, 2009 by MANIFEST ME! in Banking/Money/Finance, GeneralSo you need to open up a bank account?
There are a few things that you need to know.
What age do you have to be in order to open up a bank account? 18, in most cases, that’s if you want to be the only one on the account. You do have the option to open up an account with your parent/guardian.
(Personal Experience: I open up my first account when I was 13. It was a Savings account and my fathers help me to open it up. They allowed me to withdraw funds with his signature. But, it was my account
and he respected that. I wanted to save money to go on a trip. It was pretty neat!)
What do you need to open up a banking account?You typically need two forms of I.D. such as a state issued I.D. or Drivers License and your Social Security Card.
(Personal Experience: When I was a teenager my father always made sure we were current on a state issued identification card. So, if you don’t have an I.D. go to your local DPS office and get one for a small fee.)
What type of bank account should you open?It depends on it will be used for. There are several account options available to you but the two most common accounts are a checking and savings. In these two account categories fall many option. So, check with the bank of your choice to see what type of Checking and Savings accounts are available and what is needed to open & maintain your account. You need to know the requirements, fees, etc to keep you account in good standing.
Is there an opening deposit? The opening deposit depends on the banking institution of your choice. Some banks run specials to wheel you in while other banks may not. So be sure to check to see if the banking institution of your choice is running any specials with the opening deposit. Check for free gifts too!
Do banks check your credit?It is not usual for a banking institution to perform a credit check when opening an account. What is normal is for a institution to check CheckSystems or TeleCheck or some other type of check system when opening account. If you have had an bank account or a check to go bad it may be reported to a check system program which then you can be denied of a bank account.
What if I am denied an account?If your personal information is in Check System and you have been denied a bank account then some banking institutions have alternatives. Some having checking accounts where they do not check any check system service and will not issue a check but they will issue a debit card. In some cases the banking system can vote on whether or not to extend and account to you even though your personal information is in check system and the cause is justifiable. It all depends on the banking institution in which you chose. Be sure to check to see what options are available to you.
Banking Alternatives:
There are times when you have been denied a banking account and you really need to have an account badly. You may have job that required direct deposit or need to build your credit. In this case you do have banking alternatives.
I recommend personally, Account Now VISA or MASTERCARD Debit. I have a banking account and have had one for many years. But, when I learned of the benefits that this debit card offers, I thought I would get one just because of the benefits.
#1 It is free with direct deposit. There is a 9.95 activation fee but it is free when you sign up for direct deposit.
#2 You can manage it online and it has free bill pay. Bill pay is awesome! Being able to access my card at any time is a plus!
#3 No hidden fees! This is like it was to good to be true, but truly there are not any hidden fees. I compared this card to other prepaid debits and found out that you are way better off getting an Account Now Debit Card. Many charge for calling customer service, you don’t get charge for making a customer service phone call with this card!
#4 Free credit builder.This is one of the main reasons why I wanted the Account Now card. It will help build your credit. If you use the free bill payers, when you pay your bills frequently and it reports it that you are paying your bills ontime. Which builds your credit and it is not even a credit card. This is an AWESOME thing!
#5 Money when you need it. Here is another reason why I got a card! Forget about having to need one of those costly payday loans. If you have any type of direct deposit on your Account Now card, you are able to get a low interest loan and you are autmactially approved when you have direct deposit. I am serious, you get money when you need it within seconds. The money is avaliable to you and the interest is unbeatable!
Oh and NO overdraft fees & No CheckSystems!
I wanted to see for myself how this card works. I have seen it advertise and I had no need for it. But, I could use it to do the things that I do periodically like borrow money, for one. Then to have a free credit builder with no strings attached is another great reason.
Account Now is a great alternative when you need an account. You get all the benefits of a regular banking account! They have excellent customer service. I use it for something personal just to take advantages of the many benefits that this card has to offer.
TaWana S.
This is not a paid post!
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Credit Card Direct!
Posted on April 9, 2009 by MANIFEST ME! in Banking/Money/Finance, GeneralAre you thinking about your credit? Have you thought about the dangers you are facing with recession, foreclosures, and bankruptcy? Do you think there is no possible way to get back on track after you have had it rough?
Don’t worry! Life isn’t over. Remember that what we experience in life is all apart of life. Sometimes we have no immediate control over how things will work out for us. What we can bank on is that things will get better.
If you are looking to rebuild your credit, there are numerous of credit card companies that will help you. So you are probably thinking that it is impossible for you to find the right credit card, right? Well, think again.
How would you like to experience finding the perfect credit card no matter what type of credit you may have with out a credit check. There is no catch, your credit status is evaluated without checking your credit matching you with the best credit card for your area of interest. So, if you have excellent credit and want to see all of your options, you can see them in one place. If you have bad credit and you want to know what options are made available to you, there are in one place.
All the annual fees, interest rates, discounts, etc (if any) will be right before your eyes. The best part about it is that there is no credit check required to let you see what cards fits you. So, if you shopping for a credit card check out http://www.cardhub.com. I checked it out and that is why I am writing about it!
TaWana S.
Please view the site disclosure.
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