Does My Credit Suffer If I Miss A Child Support Payment?

Look, it’s no fun being divorced. It is even less fun being a divorced parent who makes child support payments, because you likely feel that you are giving money to your former spouse, rather than your children. It is easy to get wrapped up in resentment and feelings of being treated unfairly in making these child support payments.

The truth, however, is that unless your former spouse is stealing those child support payments for another purpose (highly unlikely), that money really is going for your children’s welfare. That’s something that should make you feel good. Despite the fact that the marriage has dissolved, you are doing the right thing by making child support payments for your kids, the most important thing on the planet.

Credit at risk

Nevertheless, there may be some people who aren’t making those child support payments at all. Maybe you are accidentally late on occasion because you have other obligations to meet first. Dealing with the regular consequences is bad enough.

Yet, now you may have another reason to be more diligent: Late or missing child support payments may harm your credit.

Child support payments are a particularly onerous issue in regards to credit reporting. The credit bureaus are required to include delinquent support payments in your file. That means that paying on time does nothing whatsoever to help your credit, but missing a payment will ding you, and likely in a very bad way.

Big Brother is indeed watching

Specifically, most state agencies will report parents who are more than $1,000 behind in the aggregate. If you are overdue by 6 months or more, the missed child support payment(s) show up as accounts in collection.

Some states do require child support enforcement agencies to get in touch with you before they attack your credit. Most states are going to give you reminders, if not outright warnings, in any event.

Even worse, if you get taken to court over delinquent child support payments, you may end up with 1) a court lien on your assets, or 2) a court judgment, or both. Those will devastate your credit.

Missed child support payments are as bad as bankruptcy, in that they stay on your report for as long as seven years.

Why child support goes on your credit

As if maintaining good credit wasn’t difficult enough, missing a child support payment can make things even worse. But why is this such a big deal?

Think about how creditors view this behavior. They think, “If this person isn’t even able or willing to take care of their own kids with on-time child support payments, why should we trust him to pay us, an unsecured creditor?”

Keep records

As with any other payment that involves your credit, keep receipts and even check copies. This should be a regular routine you manage each time you mail a payment.

Write the check. Make a copy of it along with a statement or letter to your ex-spouse. Mail it. When the check is cashed, download and print a copy of it and clip the package together. Do this each and every month, just in case an erroneous report goes to the credit bureau. You’ll have proof to dispute the erroneous report.

Family split image via Shutterstock

Source Article http://ift.tt/1y39EC7

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Does My Credit Suffer If I Miss A Child Support Payment?

Look, it’s no fun being divorced. It is even less fun being a divorced parent who makes child support payments, because you likely feel that you are giving money to your former spouse, rather than your children. It is easy to get wrapped up in resentment and feelings of being treated unfairly in making these child support payments.

The truth, however, is that unless your former spouse is stealing those child support payments for another purpose (highly unlikely), that money really is going for your children’s welfare. That’s something that should make you feel good. Despite the fact that the marriage has dissolved, you are doing the right thing by making child support payments for your kids, the most important thing on the planet.

Credit at risk

Nevertheless, there may be some people who aren’t making those child support payments at all. Maybe you are accidentally late on occasion because you have other obligations to meet first. Dealing with the regular consequences is bad enough.

Yet, now you may have another reason to be more diligent: Late or missing child support payments may harm your credit.

Child support payments are a particularly onerous issue in regards to credit reporting. The credit bureaus are required to include delinquent support payments in your file. That means that paying on time does nothing whatsoever to help your credit, but missing a payment will ding you, and likely in a very bad way.

Big Brother is indeed watching

Specifically, most state agencies will report parents who are more than $1,000 behind in the aggregate. If you are overdue by 6 months or more, the missed child support payment(s) show up as accounts in collection.

Some states do require child support enforcement agencies to get in touch with you before they attack your credit. Most states are going to give you reminders, if not outright warnings, in any event.

Even worse, if you get taken to court over delinquent child support payments, you may end up with 1) a court lien on your assets, or 2) a court judgment, or both. Those will devastate your credit.

Missed child support payments are as bad as bankruptcy, in that they stay on your report for as long as seven years.

Why child support goes on your credit

As if maintaining good credit wasn’t difficult enough, missing a child support payment can make things even worse. But why is this such a big deal?

Think about how creditors view this behavior. They think, “If this person isn’t even able or willing to take care of their own kids with on-time child support payments, why should we trust him to pay us, an unsecured creditor?”

Keep records

As with any other payment that involves your credit, keep receipts and even check copies. This should be a regular routine you manage each time you mail a payment.

Write the check. Make a copy of it along with a statement or letter to your ex-spouse. Mail it. When the check is cashed, download and print a copy of it and clip the package together. Do this each and every month, just in case an erroneous report goes to the credit bureau. You’ll have proof to dispute the erroneous report.

Family split image via Shutterstock

Source Article :http://bit.ly/1m1747U

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How Late Does A Bill Payment Have To Be Before It’s Reported?

The notion of a late bill payment being reported to a credit bureau is one that concerns a lot of consumers. People don’t want a late bill payment being reported to a credit bureau because they simply forget about a payment, or were out of town and returned after a payment date, or were short of cash on the payment date but had the money the next day.

The truth is that a variety of factors go into whether or not a late bill payment is reported to a credit bureau by a creditor. There are official guidelines and unofficial acts that creditors engage in.

Industry guide for late bill payments being reported to credit bureaus

The Consumer Data Industry Association created the Metro 2 Credit Reporting Resource Guide in 1997, which is a standardized format and guide to report credit information. It meets all the standards of the Fair Credit Reporting Act, Fair Credit Billing Act, and Equal Credit Opportunity Act.

The guide provides for what amounts to two grace periods. The first grace period is from the day of the charge until the payment date. For credit cards, this is usually 21-25 days. Then the guide calls for a 30-day grace period, which begins on the day after the payment due date.

So you’re likely to have from 51 to 55 days from the day you make a charge until your late bill payment is reported to a credit bureau.

Due dates are still vital

However, that does not mean you should get lazy about the due dates, because creditors can still report you missing the payment date, which can harm your credit. If you then miss the 30-day grace period, you get reported again for being “30 days past due.” You’d get hit a third time for “60 days past due.”

Reality, however, may play out differently.

Reality check

A creditor wants good relationships with all his customers. There is usually competition for business, except in the case of things like public utilities. Consequently, a creditor doesn’t just want to report every single consumer to the credit bureaus just because they are a day or three late.

The same goes for things like late fees and interest. Those assessments just anger consumers. There’s a downside to being too hard-core, in that a merchant may drive away consumers.

On the other side, a late bill payment being reported to a credit bureau is an absolute necessity with consumers who are routinely late, or who have made a gigantic purchase and haven’t paid up.

How not to be late

You can avoid being late on payments by paying close attention to those due dates. You may want to create a spreadsheet or reminder list, which contains the name of your creditor, the amount due (if it’s the same monthly charge), and the due date.

You can also program a smartphone or use calendar apps to issue reminders.

The best choice is to have the creditor auto-debit your bank account for the payment each month. That way, you’ll never forget to pay.

Late payment image via Shutterstock

Source Article :http://bit.ly/1nMRmBX

Read More

How Late Does A Bill Payment Have To Be Before It’s Reported?

The notion of a late bill payment being reported to a credit bureau is one that concerns a lot of consumers. People don’t want a late bill payment being reported to a credit bureau because they simply forget about a payment, or were out of town and returned after a payment date, or were short of cash on the payment date but had the money the next day.

The truth is that a variety of factors go into whether or not a late bill payment is reported to a credit bureau by a creditor. There are official guidelines and unofficial acts that creditors engage in.

Industry guide for late bill payments being reported to credit bureaus

The Consumer Data Industry Association created the Metro 2 Credit Reporting Resource Guide in 1997, which is a standardized format and guide to report credit information. It meets all the standards of the Fair Credit Reporting Act, Fair Credit Billing Act, and Equal Credit Opportunity Act.

The guide provides for what amounts to two grace periods. The first grace period is from the day of the charge until the payment date. For credit cards, this is usually 21-25 days. Then the guide calls for a 30-day grace period, which begins on the day after the payment due date.

So you’re likely to have from 51 to 55 days from the day you make a charge until your late bill payment is reported to a credit bureau.

Due dates are still vital

However, that does not mean you should get lazy about the due dates, because creditors can still report you missing the payment date, which can harm your credit. If you then miss the 30-day grace period, you get reported again for being “30 days past due.” You’d get hit a third time for “60 days past due.”

Reality, however, may play out differently.

Reality check

A creditor wants good relationships with all his customers. There is usually competition for business, except in the case of things like public utilities. Consequently, a creditor doesn’t just want to report every single consumer to the credit bureaus just because they are a day or three late.

The same goes for things like late fees and interest. Those assessments just anger consumers. There’s a downside to being too hard-core, in that a merchant may drive away consumers.

On the other side, a late bill payment being reported to a credit bureau is an absolute necessity with consumers who are routinely late, or who have made a gigantic purchase and haven’t paid up.

How not to be late

You can avoid being late on payments by paying close attention to those due dates. You may want to create a spreadsheet or reminder list, which contains the name of your creditor, the amount due (if it’s the same monthly charge), and the due date.

You can also program a smartphone or use calendar apps to issue reminders.

The best choice is to have the creditor auto-debit your bank account for the payment each month. That way, you’ll never forget to pay.

Late payment image via Shutterstock

Source Article http://ift.tt/1y39EC7

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Anatomy of the shoe

Source Article :  http://www.bubblews.com/news/5085605-anatomy-of-the-shoe
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Any shoe consists of different parts. And when the buyer knows the basic components of the shoe, that helps him to choose the right shoe from among thousands of species available in the market.
The part of the front, known as the shoe box or finger (toe box) provides space for the toes may be square or rounded or in the form of a triangle. This form determines the available space of the fingers, which are small and in a bad shoe ever made ​​triangular helping the emergence of problems toes may lead to long-term.
The soles of the shoe is made ​​up of an internal part (insole) and an external part (out sole). The outer part of the Earth is facing the inner part is the part that stands by the soles of the feet. In general, the more the shoe soles soft and flexible the greater its ability to absorb shock when walking, thus reducing the voltage module, which is under his foot. As part of the back and bottom of the shoe and known heeled shoe, it is known that whenever this was high heels.
//////////////////////////////////////////////////
Source Article :  http://www.bubblews.com/news/5085605-anatomy-of-the-shoe

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Have You Heard of the Magnises Card?

Do you relish the idea of running in an exclusive social group? Is it essential to you that every item you own double as a status symbol? Most importantly: Are you a stylish and sophisticated young adult living in New York City?

If you answered yes to these questions, you need to know about the Magnises card – dig into the details below. But if you answered no the questions above, the information is still worth a look. You’ll likely be entertained at what you find!

What is the Magnises card?

The Magnises card is the pet project of Billy McFarland, a twentysomething college dropout from New Jersey. In 2013, he and a group of friends were discussing how exhilarating it would feel to carry a certain exclusive credit card, but recognized they’d have to wait a while to achieve the requisite income and status the card’s issuer demands.

Inspired, McFarland set about creating a flashy card that he and his young friends could access right away. The Magnises card hit the market shortly thereafter and is making a splash on the New York City social scene.

What do you get with the Magnises card? If you’re accepted (more on that in a minute), a $250 annual fee will get you:

• A black metal card you can use to make purchases


• Access to the Magnises townhouse, where you can hang out with fellow cardholders


• Restaurant, shopping and hotel perks at prime New York City venues


• Access to private drivers


• Access and recommendations to exclusive New York City bars and clubs


• Invitations to private events hosted by Magnises

Wondering where the card’s name comes from? McFarland explained in an article that ran in the New York Post:

“Magnises is Latin for absolutely nothing. … The name is made up, but it sounds grand, doesn’t it?’”

But remember: Magnises isn’t exactly a credit card

So far, the Magnises card probably sounds a lot like many of the other high-priced, elite credit cards out there. Just one thing, though: The Magnises card isn’t exactly a credit card.

The Magnises card isn’t tied to an issuing bank, nor does it operate on any of the major credit card networks. It’s simply a stand-in for your normal credit card; you copy your usual card’s information onto the Magnises card and can then use it anywhere that accepts plastic.

Consequently, you can essentially choose any credit card that fits your lifestyle, transfer it onto the Magnises card and hit the town. There’s something to be said for this type of flexibility, especially within the young, hip and diverse crowd Magnises is targeting.

Want a Magnises card? You’ll have to be “cool enough” to qualify

Since Magnises isn’t a conventional credit card, the process of applying and qualifying for the card is equally unconventional. Although you are asked to state your annual income and occupation, most traditional credit card application inquiries are omitted.

The Magnises team is more interested in your answers to some unexpected questions, which you fill in on a short online form. For example:

• What do you like to do for fun in NYC?


• What are your favorite restaurants in NYC?


• What are your favorite places to shop in NYC?

If the Magnises team likes your initial application, you move on to step two of the acceptance process, which is a phone interview. An article in the New York Times about the Magnises card explained:

“The vetting process could be likened to a fraternity or sorority week. … The final decision, Mr. McFarland said, is based on whether the rest of the group thinks you are cool enough.”

Although McFarland backpedaled on that statement, it’s clear that Magnises wants to keep membership limited to a small, ultra-hip crowd. Think you fit the bill? As of July 2014, there’s a long waiting list for the card – it never hurts to take a shot!

Writer’s note: My request for comment from the Magnises team went unanswered. It seems they take their “no nerds” stance literally!

Young wealthy people image via Shutterstock

Source Article :http://bit.ly/1nTzqXv

Read More

Have You Heard of the Magnises Card?

Do you relish the idea of running in an exclusive social group? Is it essential to you that every item you own double as a status symbol? Most importantly: Are you a stylish and sophisticated young adult living in New York City?

If you answered yes to these questions, you need to know about the Magnises card – dig into the details below. But if you answered no the questions above, the information is still worth a look. You’ll likely be entertained at what you find!

What is the Magnises card?

The Magnises card is the pet project of Billy McFarland, a twentysomething college dropout from New Jersey. In 2013, he and a group of friends were discussing how exhilarating it would feel to carry a certain exclusive credit card, but recognized they’d have to wait a while to achieve the requisite income and status the card’s issuer demands.

Inspired, McFarland set about creating a flashy card that he and his young friends could access right away. The Magnises card hit the market shortly thereafter and is making a splash on the New York City social scene.

What do you get with the Magnises card? If you’re accepted (more on that in a minute), a $250 annual fee will get you:

• A black metal card you can use to make purchases


• Access to the Magnises townhouse, where you can hang out with fellow cardholders


• Restaurant, shopping and hotel perks at prime New York City venues


• Access to private drivers


• Access and recommendations to exclusive New York City bars and clubs


• Invitations to private events hosted by Magnises

Wondering where the card’s name comes from? McFarland explained in an article that ran in the New York Post:

“Magnises is Latin for absolutely nothing. … The name is made up, but it sounds grand, doesn’t it?’”

But remember: Magnises isn’t exactly a credit card

So far, the Magnises card probably sounds a lot like many of the other high-priced, elite credit cards out there. Just one thing, though: The Magnises card isn’t exactly a credit card.

The Magnises card isn’t tied to an issuing bank, nor does it operate on any of the major credit card networks. It’s simply a stand-in for your normal credit card; you copy your usual card’s information onto the Magnises card and can then use it anywhere that accepts plastic.

Consequently, you can essentially choose any credit card that fits your lifestyle, transfer it onto the Magnises card and hit the town. There’s something to be said for this type of flexibility, especially within the young, hip and diverse crowd Magnises is targeting.

Want a Magnises card? You’ll have to be “cool enough” to qualify

Since Magnises isn’t a conventional credit card, the process of applying and qualifying for the card is equally unconventional. Although you are asked to state your annual income and occupation, most traditional credit card application inquiries are omitted.

The Magnises team is more interested in your answers to some unexpected questions, which you fill in on a short online form. For example:

• What do you like to do for fun in NYC?


• What are your favorite restaurants in NYC?


• What are your favorite places to shop in NYC?

If the Magnises team likes your initial application, you move on to step two of the acceptance process, which is a phone interview. An article in the New York Times about the Magnises card explained:

“The vetting process could be likened to a fraternity or sorority week. … The final decision, Mr. McFarland said, is based on whether the rest of the group thinks you are cool enough.”

Although McFarland backpedaled on that statement, it’s clear that Magnises wants to keep membership limited to a small, ultra-hip crowd. Think you fit the bill? As of July 2014, there’s a long waiting list for the card – it never hurts to take a shot!

Writer’s note: My request for comment from the Magnises team went unanswered. It seems they take their “no nerds” stance literally!

Young wealthy people image via Shutterstock

Source Article http://ift.tt/1y39EC7

Read More