Posted by admin | Under Credit Score Repair
Friday Aug 7, 2009
Credit Score Repair: Read these tips on credit score repair and fix your bad credit.
Good credit is important to functioning in society today. When you have bad credit, life can be difficult. Unfortunately it is easy to make mistakes in handling your credit which leaves you with a low credit score. When you have a good credit score you have many more advantages when it comes to leveraging your wealth. Raising your credit score can be done.
First you want to obtain your credit reports from all three credit bureaus. You can do this by going to the Equifax website where you can order a 3 in 1 report that will show your records from all three credit bureaus. You can also find out what your FICO score is. You can even choose to monitor your FICO score if you want so you can tell how well your credit repair is working. Be sure to pull your records from all three bureaus. These are where your creditors report to but they may not report to all three so your reports may be different. You want to find out how many black marks you have with each bureau and investigate your reports for errors.
When you get your reports, go through each one thoroughly. This is vital to start your credit score repair. A lot of the information will be identical but some will be different. You will also find that each bureau figures your credit in a different way and can give you a different score. Not all of your creditors will report to all three of the bureaus and you can never be sure which bureau report a potential creditor will pull so you want to repair them all. Make a note of every derogatory mark on your reports.
After this begin work on removing negative marks on your credit reports. Do this by sending hand written dispute letters to the credit bureaus. They make forms available for this purpose but you may get a better response if you hand write your dispute so the employee who opens it can tell it is a real dispute from you and not an automated letter from a credit repair company. Your dispute will be read by a real person at the credit bureau so you are probably better off to handle your correspondence in a personal way.
Attack the errors on your credit reports. When you get false information removed you might see a sudden jump in your credit score. If the derogatory remarks are valid then the credit bureau will not remove it if it is verified by the reporting creditor. In that case, you can contact the creditor directly and ask them if they will remove the negative mark. If you are a current customer in good standing, they may do so.
Decide to either make payments or let bad credit expire. It may be best to leave old bad credit marks alone. Most of them will expire and be removed from your credit report seven years from the date of last activity. If you dispute an old bad credit mark, it might re-age it so that the seven year clock starts all over again. This will make your credit score go down because it shows as a new bad credit mark rather than an old one.
Juggle your credit cards around and you might see a quick rise in your credit score. It is best to keep your available balance between 30% to 50%. If you have one card that has nearly zero balance and one that is close to being maxed out, move some of your balance over so that both of your cards are in the 30% to 50% range.
Please be careful with new credit lines and old accounts. Having an open old account on your credit report will be a benefit to you even if it is not currently active since the credit bureaus factor in how long you have had your credit established. New accounts on the other hand will probably lower your score for awhile after you open them. Your credit score fluctuates frequently depending on your actions, that is why it is so beneficial to monitor your credit. You can do that at the Equifax website by signing up for their Equifax Credit Watch Gold, plus it provides you with identity theft protection in the amount of $20,000.
Since you are reading this article, you know how important good credit is. These few steps can help you improve your credit and help you maintain good credit. You may think you need professional help from a credit repair agency, but it really isn’t necessary since you can do it all yourself. It is at least worth a try before you spend money on credit repair.
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Posted by admin | Under Increase Credit Score
Saturday Aug 28, 2010
Full Sail Mortgage a division of Network Funding LP presents tips to help you increase your credit scores. This will help you get lower interest rates on mortgages, car loans and insurance premiums.
Duration : 0:7:46
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Posted by admin | Under Credit Score Repair
Saturday Aug 28, 2010
I want to buy my home but my credit score is 446 so I have been referred to a credit repair agency for help. But because I have so many outstanding debts, some very old & some new, the estimated price for their service is $1200. Yes, I have tried this process on my own but it takes too long, Should I just go ahead & pay for their service so I can buy my home?
Instead of paying the credit repair company, go to the bank and get twelve $100 bills. Then flush those bills down the toilet. You will at least get to watch the bills swirl down the drain, which is a lot more than the credit repair company will do.
With a 446 score, there is absolutely no way you will be able to fix your credit in less than 3 or 4 years. Not only will you have to negotiate settlement of all the outstanding debts, but you will have to establish current good payment history.
Put your hopes of buying a home on the back burner. You need to first learn some better financial management skills.
Posted by admin | Under How to Repair Credit
Wednesday Aug 18, 2010
Go to www.e-Credit.TV for Free Credit Repair, Free Credit Books, Consumer Credit Counseling, Debt Consolidation and Identity Theft Protection. In this video the U.S. Treasury Dept. explains how to obtain free credit reports from all three of the credit bureaus. The video also explains how Fraud Alerts work and the activation process.
Duration : 0:2:11
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Technorati Tags: books, consolidation, consumer, counseling, credit, debt, Free, identity, Protection, repair, theft
Posted by admin | Under Increase Credit Score
Wednesday Aug 18, 2010
Understanding the basics of credit is the first step in raising your credit score. www.CreditIQbook.com provides you with the tools you need to avoid credit problems, low FICO scores and denials.
Duration : 0:0:21
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Technorati Tags: basics, credit, credit-problem, increase-FICO, low-FICO
Posted by admin | Under How to Improve Credit Score
Wednesday Aug 18, 2010
I have established credit however, currently the only items that are open on my credit are my mortgage, student loans, and a credit card with a SMALL limit! All other items are either paid off or charge offs. Other than paying my open stuff on time what can I do to improve my credit score?
Pay off your smallest balance charge offs first. Charge offs really hurt your credit, but when you pay them off they show up as a paid charge off, which helps your score a lot. And if you have a $100 dollar charge off it hurts your score almost as much as a $5000 so pay the little ones off first.
Posted by admin | Under Fix Credit Report
Wednesday Aug 18, 2010
Let me be honest: I don’t have a very good credit score. How do I fix this? Should I close some open accounts? Will this help?
And please don’t state the obvious …. thank you.
If your accounts are in good standing, do not close them. The largest component of a credit score is history. And even though those accounts will be on your reports for another 10 years after/if you close them, they will drop off and in 10 years, your credit history will severely shorten. Also, if you have some debt, like in credit cards, and you close accounts, your utilization ratio will increase, decreasing your score.
Paying on time with at least the minimum is mandatory. If you have debt, try to pay it down as quickly as possible. This is for unsecured, revolving debt like credit cards. Paying off installment loans like car and student loans more quickly than the maturity date won’t help, in fact, they’ll just fall off your reports more quickly (again the whole 10 years thing).
If you have been applying for credit frequently recently, stop. Hard inquiries ding your score. After one year, they won’t have an impact on your score and after two, they’ll drop off your reports.
If you have only one certain type of credit account; when it is suitable, apply for another type. Credit scores are also based on the type of credit accounts you have. If you have a credit card but not an installment loan like a car or student loan, apply for a personal loan and start paying it off. A lot of people have done this to establish a credit history; they don’t use the money from the loan but put it in savings to build a little interest and make monthly payments.
With all of this, time is what will help you the most. Just let your accounts age as long as possible.
FYI: Rent and utilities aren’t reported to credit bureaus unless they go delinquent.
Posted by admin | Under Increase Credit Score
Sunday Aug 8, 2010
Increasing a credit score is done by looking at a credit report, keeping credit card balances down and making payments on time. Discover how a mortgage can affect someone’s credit score with advice from a registered financial consultant in this free video on money management.
Expert: Patrick Munro
Contact: www.northstarnavigator.com
Bio: Patrick Munro is a registered financial consultant (RFC) with outstanding sales volume of progressive financial products and solutions to the senior and boomer marketplace.
Filmmaker: Reel Media LLC
Duration : 0:1:15
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Technorati Tags: banking, budgets, cards, cash, credit, debt, finance, finances, investing, management, managing, money, personal, reports
Posted by admin | Under How to Improve Credit Score
Sunday Aug 8, 2010
my credit score was in the high 500’s a couple of months ago. last month a car repo was removed from my report, but i dont know the score. does anyone have an idea how much my score should have improved? im trying to buy a house and need a 620.
First of all get a copy of your report (which I presume you have done – that would be how you would know that the repo came off).
https://www.annualcreditreport.com
Now go to the "Credit Score Estimator" on the creditcards credit-card-tools site listed in sources. Be totally honest – this will be seen by no one but you. Use your credit report to answer the questions.
Good luck
Posted by admin | Under How to Repair Credit
Tuesday Aug 3, 2010
http://www.BetterCreditFacts.com created this video to give a basic introduction to credit repair, the REAL cost of having bad credit items on your credit history and a simple solution to fix them.
Duration : 0:2:55
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