By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.
You can use checking accounts to meet regular expenses and urgent money needs such as bill payment. You'll also be able to make direct paycheck deposit, other payments deposits, and fund transfer by using your checking account. But you must remember that most checking accounts don't generate interest.
Whereas, you can use a savings account to generate good interest on your saved funds. A saving account may also serve certificates of deposit (CDs) and investments. On a saving account, the interest rates can be calculated on a daily, monthly, or annual basis.
Yes, by using both the accounts you can earn more interest (shift bigger amount to saving account), save more easily (separate daily expenses into checking account only), and can protect yourself from costly overdraft fees (automated backing up the checking account with your savings account). However, overdraft protection may cost you $34 per transaction, in case you make any overdraft from your checking account, as per CFPB.
Sub: #1 posted on Wed, 08/03/2016 - 01:24tiarajoseph11
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Savings accounts are more like one kind of investment. You get interest on the amount you keep.
Sub: #2 posted on Wed, 08/03/2016 - 04:11Good Nelly
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