What Happens if your Bank Suddenly Takes Away Your Line of Credit?

Recently, I saw several articles where Wells Fargo announced the elimination of personal lines of credit. According to the reports, the elimination of these lines of credit will be final over the next few weeks. Wells Fargo customers rely on these lines, in the $3,000 - $100,000 range, to consolidate higher interest debt like credit cards, pay for major projects [...]

2021-08-24T11:05:04+00:00Credit Repair|

Financial Scammers During COVID-19 – Beware!

Throughout this crisis, we have seen the good in people. We have those on the front lines fighting to protect us. Essential workers are making sure that we have food on our tables. Assistance programs to help us to financially get through it. These are good things. However, we still worry about our health, the health of our loved ones, [...]

Creditors vs. Debt Collectors: What’s the Difference?

When dealing with debt collectors, nothing makes your heart sink faster than a phone call from an unrecognized 800 number. Collectors and creditors can be extremely aggressive when trying to secure late payments. However, before you assert your rights and control your situation, it’s important to know who you’re dealing with. Who Is Your Initial Lender? A creditor is anyone [...]

2021-08-24T11:13:26+00:00Bankruptcy, Credit Repair|

Get Those Numbers Up: Understanding Credit Repair

Your credit scores may be low due to bankruptcy, years of bad spending habits, or accounts in default. You can start taking steps today to repair your credit and improve your financial health. The first thing is to gain an understanding of credit repair. Start With Copies of Your Credit Reports Before you can start working on your credit, you [...]

4 Ways You Can Recover After Bankruptcy

Many consumers who are drowning in debt fail to file for bankruptcy even through they need the relief desperately. We have met with people who are terrified at the thought of going bankrupt. They claim that the filing will stay on their credit report for the rest of their life. They fear that they will never be able to get [...]

When Bankruptcy Is the Best Option in New Jersey

Is bankruptcy the best option if you are unable to repay debts? Especially as you have other obligations such as retirement, food and shelter. With so many websites offering free financial tools, it can be hard to know whom to trust. At Lucid Law, we thoroughly research financial products and companies to find you the best option for your bankruptcy. [...]

How Credit Card Balance Can Impact Your Future in New Jersey

Credit card companies love to offer low interest rates in exchange for cash funds. Or, they offer low interest rates to transfer a credit card balance. The low interest rates can sometimes be as low as 0%. It may seem like you aren’t paying for your purchases for a while by using these amazing offers. These promotional offers are credit [...]

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