Categories for Fixing Credit

Clean Credit History – 3 Simple Tricks For Fast Credit Repair

June 7, 2011 5:00 am Published by

Clean Credit History – 3 Simple Tricks For Fast Credit Repair

Is your credit far from perfect? Are you having troubles getting approved for a mortgage or auto loan? Do you want to get rid of debt and start with a “clean credit slate”? In the current economic crisis more and more Americans are facing the same bad credit problems. Contrary to the general myth, fixing credit doesn’t have to be that hard. You can clean credit history in a short period of time if you arm yourself with credit knowledge and a healthy dose of perseverance.

Here are 3 simple tips that will help you understand how fast credit repair works:

1. Time is not always the solution.

A lot of credit experts think that time is the only solution for serious credit problems. Bankruptcies stay on your record for 10 years. Negative items like collections, tax liens, judgments, late payments, past due payments etc usually fall off your record after 7 years. Credit inquiries appear on your report for a period of 2 years. You can pay off collections, liens, judgments etc, but they still stay on your credit report( albeit now paid) and affect your score negatively. The only thing you can do, according to the mainstream credit advisers, is pay the negative items off and wait until they fall off from your record completely. Contrary to that myth, there are so many things you can do in order to remove a negative item from your report. The only requirement is not time, but credit knowledge and thinking outside the credit box.

2. Pay more or pay less.

The traditional way of credit repair preaches financial discipline and paying your debt off. In reality paying your debt in full will not necessarily raise your score. For example, paying off an old collection might actually hurt your credit score. The reason is that the account is now updated to “current”. The negative item (although paid) will have bigger impact on your credit score and will stay on your record as an adverse account for another 7 years. In this case-paying your debt in full doesn’t really help. Instead of trying to pay debt in full, concentrate on negotiation with collection agencies. In reality debt collectors still make a pretty handsome profit even if you pay them 25 % or less of the amount owed. Your ultimate goal is to pay as little as possible and still convince debt collectors to remove the item from your credit report. In other words-don’t go for the “hard” way, when you can do it the “smart” way.

3. Always aim for complete deletion.

Deletion of negative items is the ultimate goal of fast credit repair. A paid off negative item might not benefit your score. A deleted negative item, on the other hand, will boost your score immediately. In order to delete an item from your report, you have to master the art of “dispute” and ” negotiation” with credit bureaus and collection agencies.

There are many ways to clean credit history. Knowledge about the inner workings of the system and the various loopholes in it, how

Now Pay Close Attention —

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Fast Credit Repair

You are literally seconds away from discovering My Free Credit Reports. You have the right to obtain one FREE COPY of your credit report from each of the three major credit bureaus every 12 months. And with FREE Triple Safeguard Credit Monitoring with email alerts, you’ll stay in touch with your creadit report for free. Visit: http://www.MyFreeCreditReports.org and obtain your one FREE COPY of your Free Credit Report from each of the three major credit bureaus for free.

Article from articlesbase.com



Raise My Credit Score Understanding Credit Report

June 2, 2011 5:00 pm Published by

Raise My Credit Score Understanding Credit Report

Even if you are fluent in several foreign languages, you can have problems when it comes to credit reports. The symbols, legends and inside credit score language is frustrating, but you shouldn’t feel too bad because you’re not supposed to have great understanding of your credit report.

If you’ve been following credit card reform, more apt the credit card legislation, you’ll understand the reasons for this disguise. By keeping consumers in the dark, credit card companies have the upper edge when it comes to profits. Where else in the civilized world are you able to raise interest rates at a whim? And to make them retroactive because a consumer is a day late with their charge card payments? For years, creditors and lenders have been taking advantage of consumers, so why would not the major credit reporting agencies making it equally hard when it comes to attempts to increase credit scores?

Granted, they may not have as much to gain in terms of profits, but consider the personnel needed to handle a credit score dispute. Every credit report dispute letter initiated by a consumer or their advocate, must be addressed and the investigation completed within 30 days or the item in question must be deleted from the credit report. If you take into consideration that credit card companies also act as customers to the credit reporting companies, in the form of purchasing data, then you might expect some mutual back scratching. The bottom line is that there is no benefit to making it easy for consumers to be able to have a clear understanding of their credit report.

There is no cost savings to make credit reports easier to understand because that will just lead to an onslaught of dispute letters to creditors. Imagine if you could actually see a reporting error stated in simple language. Perhaps there would be a chart, outlined in colorful hues indicating your credit mistakes. I know this is wishful thinking, but my point is that it is difficult to journey through your credit report and you should not get too upset because you do not understand what everything means. By the way, the AVAIL Credit Coach is offering easy to understand credit reports. Check it out at my website.

Here is another adventure when dealing with the three major credit reporting agencies. If you have recently elected to receive the free credit report as mandated by law, you might also be looking for your credit score. I mean, how can you write a dispute letter and embark on a program to improve credit scores when you do not even know what your score is? Do not look too hard because the credit report score is not included in the free report. Is not Congress wonderful the way they look out for our interests? Making the credit reporting people toe the line?

The reason you do not receive credit scores is purely financial. Just because you are entitled to a free credit report does not mean you have the right to get your credit scores for free also. No. You must pay for this right and although every loan officer has this information in front of them, you, the consumer will pay. Be prepared then to shell out about eight dollars for online credit score and after you get the entire report, complete with scores, you can venture on to a credit repair program to fix credit score.
Understanding credit score is always an adventure.

Once you get the the actual nuts and bolts of your credit report, look for obvious mistakes. Start with your name. Have you been recently divorced or have you changed your name? Look for address changes and verify the information being reported is correct. Your birth date, occupation and current residence is all information that must be reported correctly because someday when you apply for a loan, you may get held up by a loan committee who wants a squeaky clean credit report with accurate information. It happens all the time.

Look at your accounts. If you can understand the symbols and numbers defining your spending and payment habits, check to make sure everything is right. Are accounts older than 7 years still being reported? Is the high credit line still available even though you closed the account years ago? How about the specifics of the accounts? Make sure if you are a signor and not the primary account holder, that the information is not reflected on your credit profile. Finally, there is the payment history. Who is late and why? Check balances of every account to make sure they are reporting properly.

Finally, dispute everything that even seems wrong. Write a dispute letter, available on my website, and follow the instructions for submitting the credit report dispute letter. remember, it is their job to make sure everything you dispute is verified. This must be accomplished within 30 days so send your dispute letter certified mail. Follow up with another collection dispute letter if you do not hear any results within the allotted time. Congratulations. You are on your way to saving money after you raise a credit score.

Fast Credit Repair

Chuck Machado is with the commercial finance company Understanding Credit Score, located in Southern California. He writes extensively about loans, debt, and commercial financing. If you have questions or comments, he encourages his readers to contact him through his website http://www.raise-credit-score.net

Article from articlesbase.com



Learn A Number Of Practical Suggestions to Credit Repair

June 1, 2011 5:00 am Published by

Learn A Number Of Practical Suggestions to Credit Repair

However it doesn´t have to be that lousy. It is possible to rebuild your specific credit score regardless of what occurred to take you along. Regardless of whether you´re recovering from any bankruptcy or just trying to get your credit score up all over again soon after producing some individuals late obligations, you’ll be able to use these actions to start out you lower the right route.

You´d be stunned at how usually credit studies was unsuitable. While you may´t clear away things which are true, you’ll be able to eliminate nearly anything that’s phony.

The incredibly 1st stage it is best to bring can be to obtain your specific credit reviews from your 3 credit-reporting companies (CRA‘s): TransUnion, Experian and Equifax. Creditors report credit info to the credit bureau of their option and whilst some lenders report to all 3 CRA’s, other lenders might only report to this one CRA. This is the motive the 3 CRA’s could have distinct accounts and info .

Your specific credit report ought to be reviewed for three motives:

To determine if any blunders are existing on your own report. Above 70% of credit reports have errors. Although not a lot of of those errors impact your credit score, it is nonetheless critical to make certain your specific credit report can be error cost-free.

To decide what products on your credit report was hurting your specific credit rating. Identifying these concerns usually help you create an challenge approach.

To locate any and a lot of detrimental entries in your credit report. It may be probable to remove some individuals in the negative things.

When you may have your specific credit stories, get a highlighter and also a pen. Highlight any errors and many unfavorable information. Go back above these products and also circle any entry that has incorrect facts. Use your pen to make notes about each and every product you locate. Review the report twice to ensure you may have captured every little thing.

As you review your specific credit report and see the highlighted areas bring around the site, tend not to beat oneself up. You may ask your specific credit historical past can be poor-this is not the end in the entire world and always seems to be just the starting of the new credit background. What transpired can be in the past and what is forward is what you might be willing to perform for and produce. In the field is not place to carry on to knock on your own lower for difficulties or unhealthy options in the past. In the worst event circumstance, all unfavorable details is going to be taken out following seven years. (longer for bankruptcies’ and judgments)

Too quite a few buyers explore as well late that, despite the fact that The Fair Credit Reporting Act (FCRA) enables most people to dispute facts within their credit records that they do not understand or understand to be inaccurate, typical credit disputes are sometimes ineffective. Federal buyer safeguard legal guidelines require credit bureaus to examine disputes, but these investigations normally consist of your credit bureaus asking the knowledge company to confirm its errors – which it quickly does. Should you’re acquiring trouble fixing credit errors employing the common dispute technique, these alternate credit repair procedures can help you correct your credit report once and for most.

Variety Agencies and Unsecured debt Validation

When the business line plaguing your specific credit report belongs to any variety company, ship the organization a letter demanding that it validate the personal debt. When the collection company receives your personal debt validation request, the Fair Consumer debt Collection Practices Act (FDCPA) requires that it produce you with proof which the personal debt is yours. The FDCPA will not require collection organizations to present your credit card debt validation inside of your pre-set time frame, however the selection agency are not able to legally validate the credit card debt to another entity – including the credit bureaus – earlier than validating it to you.

Right after mailing inside your request for financial debt validation, dispute the item using the credit bureaus. Every the FCRA, the credit bureaus have only 30 days and nights to check out your specific state. Should you document your credit bureau dispute quickly, and also the variety company doesn’t break the legislation, it may not have the opportunity to offer you that has a validation speedily ample to also verify the personal debt using the credit bureaus within just the 30 day time investigation window. If your credit bureaus do not acquire your response through the collection agency inside 30 days and nights, they need to conclude the dispute within your favo

You are able to´t start rebuilding your credit until you understand what´s inside your credit report. All of us has the proper to view your totally free replicate of their credit report when a twelve months.

You’ll be able to also operate with firms which will present you with extra expertise such as credit monitoring and identiy theft safeguard. They’re going to also assist you to get your specific credit scores and can even describe what the heck is around the scores.

To learn more about Legal credit repair Just click the link! You may also take a look at us at: http://www.EconomicSurvivalStrategies.com Where you’ll find credit repair, credit management and even debt related economic survival strategies and know-how.

Fast Credit Repair

Blogger, Consultant and Internet Junkie! Author for many blogs, sites and niche news sites.

Article from articlesbase.com

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State Owned Banks: Fixing the Economy by Ellen Hodgson Brown

May 28, 2011 5:00 am Published by

Ellen Hodgson Brown explains the rationale behind state owned banks. Due to the collapsing credit bubble which in turned popped the housing bubble, leading to recession, and perhaps, economic depression, there is not enough money and credit to keep the economy running. Three possible solutions are that the federal government issue debt-free money directly, that communities create alternate or community complementary currencies, or that a state create its own state owned bank, similar to the Bank of North Dakota. For example, a state owned bank in Michigan could provide credit to the state itself for infrastructure projects, help provide the capital for local banks, so they could in turn provide low interest loans to home owners, small and medium sized businesses, and students. In addition, a state owned bank could be used to help fund state expenses during tough times by providing loans. A major advantage of a state owned bank is that the state could borrow money from the bank at zero interest, for projects, saving between 50% and 100% of the cost of the project, since there would be no interest burden when repaying the loan. For Michigan, California, Florida, and other states looking to solve their economic problems, the state owned bank model, and the Bank of North Dakota in particular, should be studied in depth, as such a bank could provide the credit needed within that state economy during depressions and other tough economic times. Thanks to Local Future for …
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