Credit Card Debt

Line Of Credit Freeze


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Line Of Credit


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Answers

Can a bank freeze my Equity Line of Credit due to inactivity?

I'd like to know the conditions in which my bank could freeze my equity line.


Have you read the terms and conditions for your line of credit? I'm sure the lender reserves the right to freeze or cancel it.

Protect Yourself From Identity Theft With a Credit Freeze


A proactive way to prevent identity theft is to freeze your credit file with the three credit reporting bureaus, Equifax, TransUnion and Experian ...

Recently increasing ID theft, I want to freeze or shut down on my credit report>Do you know how to do that ?

Since I go back to school, I don't take any loans except for student loan which doesn't require credit report. I read a recently article on WSJ on last Saturday about ID theft. It said you can pay a fee (about $10) to get a freeze shut down access to your credit report, meaning no new credit lines can be opened unless you OK it by requesting again. But it doesn't provide any website or phone number to make that happens . Any thought??


Studly is right, you need proof of ID theft to flag your reports.

But, you can put a freeze on your reports, if your state allows it. Congress is considering pre-empting the laws in 17 states that allow people to freeze their credit so people won't be able to. Banks are complaining to much (waa waa waaa)

The credit bureaus will issue you a pin number to use for a temporary thaw if you are applying for credit. The bureaus will charge $10 each for the freeze. I'm not sure how much they charge per thaw.

You need to contact each credit bureau and talk to them about it.

Personally, I wouldn't worry about it unless you have reason to. I would just suggest keeping an eye on your reports. But, thats just my opinion.

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Home equity lines of credit frozen by Indymac?

My friend got a loan of $200K from Indymac. She put the money into a CD. Now that Indymac has frozen all equity lines
is she affected? Can she keep the 200K?
Indymac announced that all of its lines of credit have been frozen!
she did NOT put into a CD at Indymac!!!


not affected at all since if they go under a nother service provider will get her loan and she will have to repay them

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Can a credit card co withhold your line of credit because your purchases might be the work of I D theft ?

This card is valid ,not in arrears, not over expended or any other problem , The managing Bank just wants to be sure the purchases are not done by someone other than the card holder ! The account was frozen in the middle of a transaction
that was ongoing.[ in process ].


yes is if it was my card i would be more than happy if my credit card company did it!!!

I am late in an equity line payment .Can my bank freeze my checking account also with them?

Iam trying to make arrangements to bring this loan up tp date.But need time to accumilate the needed funds.Becasue Iam also late in my first mortgage.This is why I have began to think about this.Should I close my checking account and open another one so at least I can other obligations.Or am I safe,is it ilegal for banks to take this action.Because credit unions do this.Iam very concernedmit would not help them or me.


have you called the mortgage company to explain. Believe me..they will work with you. There are way to many homes going into foreclosure right now. The government has ordered banks to work out plans with people so they can save the loan. The gov. can't afford to jump in and head up this foreclosure crisis. They are already hooking up citibank and another lender that is 400 billion in the hole. Call them..explain your situation. great luck to you. Happy Holidays! This is only a speed bump!


Financial Crises Freeze

Movement of financial markets, do not be so naive Vikas Bajaj of The New York Times recently wrote an article titled "The greatest fear of housing lenders wave of defaults on loans." Given that the financial crisis is over what supposedly spoken by many financial experts considering subprime loans have begun to stabilize (ie, less failure rate), now the ALT-A loans are starting to restore unfortunately for many Americans who are finding themselves in a situation of ...

News

The Price for Fannie and Freddie Keeps Going Up

Wall Street Journal - Dec 30, 2009

The result was a freeze-up in interbank lending. For most people, that freeze-up is the beginning of the financial crisis. But its roots go back to 1993, and more »
Home equity lines in the line of fire

Examiner.com - Dec 29, 2009

For those of you with a Home Equity Line of Credit (HELOC) this is an opportune moment to create a strategy about how to handle it.
N.J. freezes grants to cultural groups | Philadelphia Inquirer | 12/10/2009

Philadelphia Inquirer - Dec 10, 2009

Like many organizations, the symphony drew on a line of credit to pay for fall programming while it awaited state funding, Brant said. and more »
Small Businesses Buckling Under Recession's Credit Freeze

NewsHour - Dec 15, 2009

Small Businesses Buckling Under Recession's Credit Freeze Small Businesses Buckling Under Recession's Credit FreezeJP Morgan Chase Bank slashed her line of credit by 90 percent. BARBARA KANTOR: Somebody who's hardworking, who's ethical, who plays by the rules,
Babies, puppies and ice: The best of Yahoo!

CreditCards.com (blog) - Dec 23, 2009

Mastering credit is important, but starting too early can be risky. Opening a line of credit in your child's name leaves them vulnerable to becoming victims
Ending four-year freeze, India to supply small arms to Nepal

Indian Express - Dec 23, 2009

fill the void caused by the Indian decision not to supply arms with Pakistan even offering to open a line of credit to facilitate sale of arms to Nepal. and more »
Prepare for second year of pay freezes

This is Money - Dec 22, 2009

Those that are to blame for this financial disaster are those that have overspent on credit, without the financial resources to pay back. and more »