Categories for Repairing Credit

Credit Repair After Foreclosure

June 18, 2011 5:00 pm Published by

Credit Repair After Foreclosure

What a time to talk about foreclosures! It has been the top news at all the leading news agencies for some time and Americans are now experiencing the aftermath of a global crisis. What about the victims of foreclosure? What happens to their credit records? Everyone knows that the recent trend of foreclosures was caused by the economic crisis that affects the entire country, but unfortunately that won’t be reflected in your credit report; the credit bureaus never consider ‘why’ the foreclosure took place.

Repairing credit after a foreclosure is a painful and draining experience. Credit repair needs to be done properly; otherwise, there will be a definite negative impact on all your financial activities in the future. As an example, you might not be eligible for a home mortgage or will have to pay a higher interest even if you do become eligible.

Credit repair is a complicated but important process; you need to work on the matter with a lot of determination and consistency. There are three primary things you can do to repair your credit repair after a foreclosure:

Pay your bills on time. Get professional help. Establish a budget.

 

Make sure that you keep track of your payment due dates and that you make your payments before the due date arrives.

Because of the possible complications, you may also want to get professional help for repairing your credit. If you find the right party to help you, this is a guaranteed way to get your credit repaired fast. Without help, you may end up in deeper trouble than what you are already in. Budgeting has also proven its effectiveness in repairing bad credit. You should establish a reasonable budget based on your income and liabilities and stick to it.

You can benefit from credit repair after foreclosure and get the credit rating you want and deserve to secure your financial future.

 

Fast Credit Repair

If you need to find more advice about dealing with foreclosure and a credit repair solution, we’ve discovered Credit Repair Magic which is (available at http://www.CreditRepairMagic.com. It’s the fastest and most cost-effective credit repair program we’ve ever found. Don’t waste your time with useless e-books or ridiculously overpriced credit law firms or other monthly services to repair your credit. Try Credit Repair Magic out for a full 60 days if you not full satisfied you will get 100% of you money refunded

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Bad Bankruptcy Car Credit Loan – How to Get a Car Loan after a Bankruptcy

June 4, 2011 5:00 pm Published by

Bad Bankruptcy Car Credit Loan – How to Get a Car Loan after a Bankruptcy

These days, cars are a basic requirement of every family who is used to travel intercity or outside the city. In this time of bad economy, saving money for a new car is quite difficult because of lower incomes. Many financial institutions and money lender are offering car loans but terms change when your credit report contains bankruptcy.

Bankruptcy is a stage when a consumer fails to pay back loans and declares himself insolvent. The law of our country supports those people who declare bankruptcy and any creditor cannot ask them for any loan. Once a person is declared as bankrupt, this remains on his credit report for more than 7 years that means for the next 7 years getting a new loan is difficult or in other words impossible. The reason for this is the creditors do not like to work with those people who are bankrupt.

In case of car loan; as it is a secured loan so many lenders and financial institutions are still offering car loans for those people who are bankrupt or having bad credit history. The terms are quite changed because of the risk factor of been default of loan. There are few tips which will help you to get a car loan after bankruptcy.

1. Try to get cheap car because if financing amount will be higher, the lender will hesitate to approve loan but if the financing amount will be lower, the financial institution will take a risk on small amount. As the car loans are secured loans, so it will not be a trouble to get a loan if you will pay insurance charges as well.

2. Try to establish a good relationship with your lender once you get a car loan by paying back in time. Once your lender will be happy with your repayments it will not be difficult in future to get expensive car loan.

3. Apply as much as you can because it will increase the chances of approval. You will find many options by applying with more companies as lower markup rate, lower charges and many other facilities.

Taking a new car loan after bankruptcy is quite difficult but not impossible. It requires some efforts only.

Many find themselves wanting credit report repair for a credit score of 700+, but don’t know what is necessary to achieve this goal. Disputing negative items on your credit report can be the first step to boosting your score. Negative items on a credit report must be validated, and those that aren’t must be removed. The end result is a credit report repair for the consumer. For more information on legal and efficient ways to repair credit, visit the following link:

Raise Credit Score

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William Roberts is an advocate for consumer rights and a member of organizations helping citizens rebuild their financial state.

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Can I start building new credit without repairing old credit?

June 2, 2011 5:00 am Published by

Question by MLRatyahoo: Can I start building new credit without repairing old credit?
I am about 3000 dollars (at most) in debt because of some emergency room visits I had between the ages of 17 and 21. I am now 22. I am in a bind, because I have to make an out-of-state move in 8 months, and I know I won’t be able to afford the move, AND pay off the debt in that short amount of time.

Someone advised me to just forget about the current debt i have (because allegedly medical debt is more explainable/exusable) and to start building new credit instead. Of course……I don’t know how to do this if i keep getting denied. My credit score is very low, between 500 & 550 I think.

Was this persons advice reasonable? Or even do-able?

If so, how can I start building fast? Which card companies won’t deny me? I’m very responsible. I only have medical debt. No other debts.

(And please, only give me advice if you know what you’re talking about. Don’t reply just to get more points. It might confuse me.)
I don’t know if 500-550 is my accurate credit score. I just think I remember seeing these numbers. All I know for sure is that it said “VERY LOW” on a scale between very low and very high.

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Best answer:

Answer by carriemyah
Yes most medical won’t affect your credit the way other negative credit does. Capital One will give a credit card to anyone. Trust me, they gave me my first credit card a few years ago when I had no credit at all. You can apply online at www.capitalone.com. Just apply for a credit card there. The best thing to do is buy a few things every month on it, then pay it off every month. That way you don’t have to pay interest. Hope this helps.

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Options for Bad Credit Repair

May 31, 2011 5:00 pm Published by

Options for Bad Credit Repair

Almost all people will do anything to improve credit standing and boost credit score. This goal seems to be impossible to achieve especially with the current financial difficulties brought about by the global crisis that started in 2008. So if you are on of the multitude of people hit by the global economic crunch, the best solution to fix bad credit is to repair it either by do-it-yourself tactics, credit repair businesses and credit repair by attorneys.

Negative marks on your credit score are results of:

• Tax liens brought about by non-payment of real estate taxes. The federal government issues a tax lien as a security that the tax payer will pay its taxes due

• Non-payment of mortgage resulting to its forclosure

• Late payment of credit card balances

• Late payment of utility bills or child support

• And any form of late or non-payment of any credit instruments

Credit report for each consumer is available once every year. This free credit report can be obtained from three of the major credit reporting agencies: The Transunion, Experian and Equifax. The free credit report becomes possible due to the Fair Credit Reporting Act (FCRA). The most common credit rating system used by these credit reporting agencies is the FICO (Fair and Isaacs Company).

When bad credit hounds you, options for credit repair is provided as the ones that are aforementioned. Just remember that credit repair services should not act as your collections agencies for your debts. Here are some of the pros and cons (comparative points) between the three options for credit repair:

• Credit Repair by Self-Initiative can be cheaper but consumes a lot of effort, time and patience. If there are disputes in the credit report received, you have to make the effort to correct it either by discussing it with the creditor’s authorized representative or writing correspondences.

• Credit repair service by companies or organizations can spare you from the rigorous “due process” but may charge a certain fee for their services.

• Credit repair by attorneys can be the best option because not only it saves you time and effort, but as well as with the tactics they are going to employ owing to the fact they are knowledgeable of credit laws. However, you may need to pay a significant of money for their services.

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Are you looking for more information regarding tax liens? Visit www.nationalcreditfederation.com today!

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