What is a drop dead letter? from nveausa's blog

What is a drop dead letter?

What is a [drop dead" letter? A [drop dead" letter is written notification from you to any collection agencies that are harassing you. It informs the agencies that you're aware of your rights under FDCPA and that you're requesting they stop contacting you about a given debt - effective immediately!現金透支意思

How to budget $4000 a month?

How To Budget Using the 50/30/20 Rule
50% for mandatory expenses = $2,000 (0.50 X 4,000 = $2,000)
30% for wants and discretionary spending = $1,200 (0.30 X 4,000 = $1,200)
20% for savings and debt repayment = $800 (0.20 X 4,000 = $800)

Is it okay to pay a credit card multiple times?

Paying your balance more than once per month makes it more likely that you'll have a lower credit utilization rate when the bureaus receive your information. And paying multiple times can also help you keep track of your spending and cut back on any overspending before you fall into debt.

Can I buy a house with a 705 credit score?

Home loans

Your credit score might be only one piece of your home mortgage application, but it's among the most critical. With a 705 credit score, you're well above the 620 baseline score needed to qualify for most home loans, but borrowers with a 740 score or higher will typically get a better interest rate.

Should you clear credit card in full?

If you have a credit card balance, it's typically best to pay it off in full if you can. Carrying a balance can lead to expensive interest charges and growing debt. Plus, using more than 30% of your credit line is likely to have a negative effect on your credit scores.

What is the average credit score in America?

Credit scores help lenders decide whether to grant you credit. The average credit score in the United States is 705, based on VantageScore® data from March 2024.

What is the best debt payment strategy?

Prioritizing debt by balance size.

This strategy, also called the snowball method, prioritizes your debt payments from smallest to largest. You'll continue to pay the minimum on all of your debts while focusing the majority of your repayment efforts on your debt with the smallest balance.

How do I pay off my credit card debt aggressively?

Pay your smallest balance first.

Pay the minimum due on all your other debt, then pay as much as you can toward your smallest balance. Repeat the process with the next smallest card until you're debt free. Keep in mind, this method may cost more in interest in the long run.

What percentage will credit cards settle for?

However, it's imperative to remember that it could have a negative impact on your credit score. What percentage will credit card companies settle for? Creditors often accept 20% to 100% of the outstanding balance.

Is credit card debt forgiveness a real thing?

But the good news is that credit card debt forgiveness does exist - it's just not government-sponsored.清卡數邊間好