Do I have to put up collateral for a payday loan?
You don’t have to put up collateral like at a pawn shop, but you usually do need to provide a post-dated check or electronic access to your bank, credit union, or prepaid card account to pay off the loan at ...
Credit counseling organizations are usually nonprofits that advise and educate you on managing your money and debts. Debt settlement companies, debt consolidation lenders, and credit repair companies are typically for-profit companies that promise to ...
Can a debt collector increase the interest rate on a debt I owe?
A debt collector may not collect any interest or fee not authorized by the agreement or by law. The interest rate or fees charged on your debt may be increased if your original loan or credit agreement permits it and ...
Yes. A bank or credit union can start charging you fees on your account as long as the bank or credit union notifies you in writing at least 30 days before it starts charging fees and explains the change to ...
If an account is described as “free” or “no cost,” it cannot have any monthly service fees, fees for exceeding a specified number of transactions, or any fees to deposit, withdraw, or transfer money. A “free” or “no cost” account ...
Yes, a bank or credit union can close your account without your permission. A bank or credit union is most likely to do this if you have written bad checks or don’t have enough in your account to cover your ...
Can I close my account whenever I want?
Most of the time, yes, but your bank or credit union may require you to settle your balance before allowing you to close an account that is overdrawn. If you want to close your account, you should call your bank ...
Generally, a bank or credit union can charge you a fee for cashing a check when you don’t have an account with that bank or credit union. However, some states have laws that require employers to pay you in a ...
Should I get a checking account that pays interest?
Financial institutions may offer checking accounts that pay interest, but usually at very low rates. These accounts often have higher fees than checking accounts that don’t pay interest. Read the terms carefully to see if the interest you earn will ...
How do I pay back my Personal Line of Credit?
Like a credit card, you will pay a monthly bill that shows your advances, payments, interest, and fees. None There is always a minimum payment, which may be as much as the entire balance on the account. You may also ...
How is my student loan payment applied to my account?
Generally, payments go first to fees that are owed (late fees, phone payment fees, etc.), then to interest (including past due interest), then to the principal balance of your loan. If you plan to pay more than your minimum monthly ...
What happens if I have not used my prepaid card for a long period of time?
You may be charged an inactivity fee if you do not use your card for a certain period of time. Prepaid card providers generally charge either a monthly fee or an inactivity fee, but not both. Remember, if your provider ...
What is a text alert service for my prepaid card?
Some prepaid cards offer a text alert service to update you about account activity or changes to your account via text message. Through the service, you may be able to receive notice of low balances, activity on your card, or ...
Can I use my prepaid card outside of the U.S.?
Check your cardholder agreement to see if you can use your prepaid card outside of the United States and if there are any restrictions on how you can use it. You might be able to use your prepaid card for ...
Will I be charged a fee if I don't use my prepaid card?
Some prepaid cards charge an “inactivity” fee if you don’t use your card for a certain period. If your card has a regular monthly fee, you will be charged that amount whether or not you use the card. The length ...
How do I avoid a monthly fee on my prepaid card?
Your prepaid card provider is required to tell you whether the monthly fee can be waived. Check to see whether your card waives the fee in some circumstances, like direct deposit for your regular income. You can also shop for ...
What should I consider when buying a prepaid card at a store?
You should always compare fees and restrictions before purchasing a prepaid card from a store or retailer. Before purchasing a prepaid card, you should compare prepaid cards and select the one that best suits your needs. Consider both how you ...
If my prepaid card expires, do I lose my money?
In some cases, when your prepaid card expires, you might have to pay a fee so that you do not lose your money. Check your cardholder agreement to see if there are actions you need to take to prevent this ...
Are there fees to use a payroll card?
Most prepaid payroll cards charge fees to use certain card features. Before you agree to receive your wages on a payroll card, read the disclosures to understand the fees and other terms. Some employers pay employees their wages or salary ...
When you apply for a HELOC, the lender must give you important information about the terms and costs of your HELOC. This information includes the length of the draw and repayment periods, fees and costs you may be charged by ...
What fees can my lender charge if I take out a HELOC?
Before you take out a Home Equity Line of Credit (HELOC), be sure to read the documents carefully to see what fees your lender can charge you. Before you borrow, find out What You Should Know About Home Equity Lines ...
How much does a reverse mortgage loan cost?
The cost of a reverse mortgage loan depends on the type of loan and the lender you choose. Typically, a reverse mortgage loan is more expensive than other home loans. With a reverse mortgage, you agree to repay the money ...
Yes, your servicer can charge you a late fee if it receives your payment after the due date, even if you mailed your payment on time. Most servicers do not go by the postmark on your payment envelope but by ...
Why did my monthly mortgage payment go up or change?
Several things can cause your mortgage payment to change. Check your mortgage statement for the itemized charges. If you still have questions, contact your servicer. Use this checklist to see what steps you can take to make sure your mortgage ...
What costs come with taking out a mortgage?
There are several types of costs and fees you pay when taking out a mortgage and purchasing a home. Some of these costs are directly related to the mortgage and others are part of homebuying or homeownership. Consider the costs ...
