Government Help For Senior Citizens' Credit Card Debt

Federal, state and local governments provide billions of dollars in grants funding every year to qualified individuals and organizations who want to use government money for the betterment of society. Unfortunately, this fact causes many Americans, including senior citizens, to fall prey to grant scams that falsely promise to pay off debts. The worst criminals steal not only money, but also private information; and they use it to establish false identities. Sometimes the scam comes in the mail. Sometimes it's on TV or in magazine ads. It may also arrive through a telephone call.

However, the scam is always the same: a false promise to provide "free government money" that doesn't have to be repaid. Seniors are particularly vulnerable to con artists because they're often told they're eligible for a grant because of their age, according to the website Snopes. Another common scam occurs when a senior is told he's eligible just because he paid his taxes on time.

Government grants do not require applicants to pay a fee to apply. Grants also don't require applicants to provide personal information, such as Social Security, bank account and credit card numbers. The government does not reach out to people to offer a grant; the applicant must seek out the grant.

Real grant information is available for free on the web from federal, state and local governments. Applicants do not have to pay for grant searches or grant criteria. If you or someone you know has been scammed, immediately order credit reports from Equifax, Experian and TransUnion, and file a complaint with the Federal Trade Commission and your state's attorney general's office.

Checking grandma's credit history is essential; the worst scammers use personal information to establish a false identity. With the new identity, the scammer secures and defaults on new loans, which can ruin her credit. She should alert the credit bureaus of her stolen identity, since debt can lead to wage garnishments or home foreclosures.

If you or a senior you know needs debt relief, call a legitimate credit counseling agency. The National Foundation for Credit Counseling is a well-respected nonprofit agency that partners with local agencies to provide help for people of all ages. If your senior owns a home, a reverse mortgage may be an option. In a reverse mortgage, the homeowner receives regular payments from the home's equity, which don't have to be repaid until the homeowner dies or the home is sold (applicants must be age 62 to apply). There are also debt settlement options, and even bankruptcy as a last resort.

The good news is that if you take care of a few things, you can obtain an auto-loan even if you do not have a steady job. Obtaining an auto loan while managing multiple part-time jobs is easy if you consider the following key points. While examining your situation, a lender looks at your total income rather than the hours taken to earn that income.

As long as your total income amount at the end of the month is equivalent to or above the lender’s minimum requirement, the lender will consider your auto loan application. 800 from his first and second part-time job respectively. In the above case, Robert is more likely to attain the auto loan approval over Liam as his income from one part-time job is more than the minimum requirement. The debt you own against your income makes your debt-to-income ratio.

Your total reported earnings against your current debt will be calculated in order to obtain the number. A DTI ratio of 45 to 50 percent is accepted. It is a good idea to clear all your previous debts before you apply for an auto loan and keep tracks of monthly payments such as credit cards.

Working on your debt-to-income ratio will prove highly beneficial to increase your creditworthiness. The longer you stick to your part-time job, the more likely you are to obtain your auto loan. As your income stream is not singular, you will have to work on justifying your credibility. Therefore, take every chance to establish that you are serious about your part-time jobs by providing your pay stubs of the last six months. They will showcase a consistent flow of income.

For example, if you are a computer engineer that does coding as a part-time job, it displays job relatedness and enhances your chances of obtaining an auto loan. Working at various part-time jobs can be your strength as you can build your application on the income of two or more jobs. Make sure you build a credible foundation and a decent credit score that will help you to get auto financing. Take the correct steps and get closer to your dream car with the stepping stones of various part-time jobs.

Whether you have a part-time job while studying in a college or you are working multiple jobs to survive your family, we will help you find a car. Apply with the California bad credit auto loan expert and obtain no-credit no cosigner auto loans to buy the vehicle of your choice.

A car buying process is equal parts fun and equal parts strenuous. Buying a car maybe a necessary decision for you but you need to make sure you are buying the correct model. Often, people think that purchasing a first-year model may be an exciting decision. While another point of view stands that most problems in cars are not detected until after their second or third model is introduced.

However, before you set out to buy your next car, it is important to map your choices in the appropriate manner. While one may always be wary about purchasing a first-year car model, it is smart to know the details of your purchase. The following factors will help you to give a deeper understanding of first-year car models.