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Repair Credit Scores – How to Derail Credit Collection Companies

August 4, 2010 5:00 am Published by

Repair Credit Scores – How to Derail Credit Collection Companies

I research techniques on how to repair credit scores often, mainly, for my own credit history and repair attempts.  Unfortunately the current economy left me without a job and it took longer than expected for me to get back on my feet.  Building reserves is tough enough, going through them and dipping into credit cards is even harder.  Here’s a little of all I’ve picked up on credit and credit repair while increasing my credit score by 75 points.

 

Let me start by saying that I understand how people feel when there’s no way to pay a bill.  You struggle with it inside.  Myself, I always paid my bills on time and usually in full.  If I had been dealing directly with my original creditors I would have settled in higher amounts on all my accounts.  Unfortunately they sold my accounts to collection companies and after a short while I built a serious resentment for these companies.  They treat me with no respect and harass me at all hours of the day.  I finally got a new job and they started calling there.  Getting a job with bad credit was hard enough, then having to deal with the calls at work.  Forget about it.

 

For that reason I looked for ways to get these companies off my back and pay them as close to nothing as possible.  Everything I had read to that point was information on how to dispute an account.  I had read about learning about credit laws but I never really saw the point to it until I found a manual that told me why knowing the laws would help me.  I assumed the laws were there to help the creditors not me.  I was wrong.  They have rules and if they don’t follow them you can get their accounts off your report.

 

The Three techniques below made a huge difference on how I worked with those collection companies.

 

First, making sure the collection company has all its licensing, bonding and insurance requirements.  If they collect outside of their state, they must have the bonding licensing and insurance for any other states they collect in.  Many times they only have for their home state because of the cost involved.  If they don’t comply, they can’t collect from you and they have to remove it.

 

Two, requesting that the collection company show actual proof they are allowed, by the original creditor, to collect from me.  If they don’t show proof, they can’t collect from you and you can dispute it with the credit bureaus.

 

Last, is getting them to show proof you owe the debt.  This sound as something easy for them to have and provide evidence, yet they have to provide copies of the original contract you signed when applying for the account.  If they don’t have it they can’t collect.  With many credit card companies merging, it gets more difficult for them to produce them.  Again dispute and remove it.

 

Those three saved me a lot of money.  I did settle for a deletion letter on a couple of accounts but most I was able to remove with the techniques above.  I hope I annoyed them as much as they annoyed me.

Fast Credit Repair

Credit repair techniques change. Using the most current techniques to dispute correctly has worked well for me. I understand my credit now and strongly recommend consumers understand this critical aspect of their financial life. There’s a lot of information out there. Below is what helped me the most. Credit Repair Reviews
How to clean credit up.
Repair Credit Scores
Copyright 2010 Rene C. Alexander.



How These Simple Steps Can Help You Protect Your Credit Score

August 3, 2010 7:36 pm Published by

Your credit score is an extremely important and influential number. If this score is not ideal then you may need to use credit repair steps to raise your credit score. Once you have this score where you want it, you will need to take some steps to protect your numbers. Credit repair is important, but once this is done you will also need to practice credit score protection methods and techniques as well. Budgeting, smart financial planning, proper organization, and changing your spending habits are all steps that you can take to keep your credit score high, once you have it repaired. You will also need to monitor your credit reports and scores to ensure that no mistakes occur and to prevent or detect any identity or credit fraud.

How Budgeting and Financial Planning Can Help Protect Your Score

As many of you know, your credit score is a reflection of your ability to repay your debt and your history of payments. Keeping your credit score at a level where you feel comfortable is very important. Proper financial planning and budgeting are both very important factors in helping you keep that score right where it is. This means making sure that you are paying all of your bills on time and paying off all of your debt in a timely fashion. Following these two simple steps will ensure that you are not seen as a high credit risk and will ensure that any credit applications you submit receive optimal interest rates and terms.

Don’t Forget About Any Correspondence Received From Creditors

Receiving a correspondence for a collection agency is never a pleasant thing to receive in the mail. Usually these notices are for an outstanding debt that you owe to the company. It is extremely important that these notices are answered in a timely manner. You will usually have about thirty days to dispute a correspondence from one of these agencies. After that time has expired, the debt will then be seen as valid. If that happens, your credit score is going to reflect that in a negative way. So stay on top of all paperwork that you receive from any creditor or collection agency and this will help protect your credit score.

Always Limit Your Credit Applications and Spend Available Credit Wisely

Once your credit score is excellent, thanks to your credit repair efforts, make sure that you use your available credit wisely. Limit the credit applications you submit, and if you are looking for a new card, or any other type of credit, make sure you submit your applications around the same time. Numerous credit applications over an extended period of time can harm and lower your credit score, so if you are looking for a new credit type make sure that you put in all the applications within a short time. This will allow possible creditors to evaluate your credit reports and understand that all of the inquiries are related. Otherwise your credit report may give the appearance that you are desperate and need credit, which causes your credit score to drop and will hurt your chances of approval, or the best possible interest rates and terms.

Visit Quick Fix Credit Score for your free report on 10 Free Steps To Instantly Start Repairing Your Bad Credit!



HDTV Secrets – Fix Bad Pixels and Why 720p Often Wins

August 3, 2010 5:00 pm Published by

Best HDTV Tips, Tricks and Secrets: Some simple DIY remedies for fixing stuck HDTV pixels. The Top 5 Best Car Chase Scenes in HD Movies. Cheap Big Screen Monitors that aren’t crap! When 720p makes more sense than 1080p. Not all rear surround sound speakers are the same: dipole, bipole, or direct. HD Nation!
Fast Credit Repair



Bankruptcy Repair – Yes You Can!

August 3, 2010 12:00 pm Published by

For those who have had to declare bankruptcy, you already know that this is one of the most damaging marks that you can have on your credit report. Many creditors consider it a “deal-breaker” when considering credit applications.

The two most common types of bankruptcy are referred to as “Chapter 7” and “Chapter 13”. A Chapter 7 bankruptcy may display on your credit for 10 years from the date of filing. Chapter 13 may stay for 10 yeas also, but it is customary for those to be removed after 7 years.

Either way, bankruptcies stay on your record for at long time. If you want to improve your chances of getting credit in the future, you should consider trying to do some bankruptcy repair.

It doesn’t matter if everything else on your report is perfect, as long as it’s showing that you’ve filed for bankruptcy that flaw is going to stick out like a sore thumb and you’re going to have problems trying to get any sort of credit. If you have any hopes of restoring your credit to what it once was, you’re going to have to find out everything you can about bankruptcy repair.

You can consider consulting different services that specialize in bankruptcy repair. You can often find a lawyer who will represent you through any proceedings or hearings. These days, you can even find a treasure trove of information online, including step-by-step guides to do it yourself.

While it is difficult to remove bankruptcy information completely, there are credit repair companies that have had success doing this. More often, the information can be cleaned up and updated, adding explanations that will be included in your credit report.

There are also legal firms who specialize with bankruptcy repair as well as other agencies that will repair your credit listed on the internet or through yellow pages. These agencies will talk to you on the phone or through free first appointments.

The author is currently researching Home Made Wine methods and recipes, as well as the hobby of Genealogy Searches for upcoming review articles.



How To Raise Credit Scores

August 3, 2010 5:00 am Published by

How To Raise Credit Scores

By raising credit scores for both you and your business, you can expect to have much more cash credit and resources available to your company at better interest rates and terms.

In the business world, a strong FICO credit score rating is necessary during the early stages of business financing especially if your business credit profiles are not strong enough.

Due to the current economy and credit markets, banks and lenders are looking at both personal FICO scores and business credit scores. Now keep in mind that if your business credit report can stand on its own they may not require a personal guarantee but can still check your credit scores as part of their underwriting process.

I suggest to clients in my business credit practice to consider programs that prove to increase a FICO credit score rating in as little as 60 days, which you and I know is pretty fast.

I’m sure you’ll agree that there are quite a few services out there that promise to raise credit scores so its important to understand the overall concept of what these programs offer.

So how does it work?

First you will need to decide what amount of credit you are wanting to add to your personal credit files. Remember the greater the credit line the bigger the impact it will have on dropping your debt to credit limit ratios. Currently the unsecured line of credit options in the marketplace usually range from k, k, ,500 and k.

Next step is simply submitting an application and making a small advance purchase based on the amount of credit you want. For example, if you select a k line of credit then you will need to purchase a couple of hundred dollars worth of products.

What I really like about using these types of programs is that from your advance purchase you get to select from thousands of dollars of merchandise items on their websites depending on what company you apply for a credit line with. So for simply purchasing their products you are automatically receiving a k unsecured line of credit that reports to your personal credit report with two of the major consumer credit reporting agencies.

Now that’s what I call a solid offer for raising credit scores! Imagine if a store like Best Buy offered its customers a k line of credit if they made an initial purchase of let’s say 0 at its store. I know it sounds far-fetched but I’m just trying to make a point.

Once approved you can continue to use these types of lines of credit towards the purchase of other products or services these companies may offer and it’s important that you do so you can continue to build positive payment history.

You can apply for this line of credit usually online but if you want a greater amount then you will need to fax or email a full credit report first.

By taking advantage of credit score programs and optimizing your scores with the credit rating bureaus the benefits for you on a personal and business level can be very rewarding. Your credit report and scores have the power to lower interest rates, give you better terms on loans and put more money back in your pockets.

Fast Credit Repair

About the Author Marco Carbajo is founder of the Business Credit Insiders Circle. Want to learn more about raising credit scores? Claim Marco’s popular FREE business credit seminar (7 Value)! Follow Marco on Twitter @MarcoCarbajo and read more of his insights on how to establish business.

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