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A High Score Saves You Money – Methods You Can Use To Repair Credit Scores That Get Results

December 12, 2009 11:05 pm Published by

A High Score Saves You Money – Methods You Can Use To Repair Credit Scores That Get Results

You need to repair your credit score, if you have a poor credit rating and a low score on your credit report. Generally, you need to have a high score, somewhere between 575 and 650 for creditors to see you as a good risk for them to loan money to. How to increase your credit score ? Do not worry. You are not the first person to ask this question. Currently more than 35 million Americans are struggling with issues related to bad credit. This can seem like a never ending nightmare. There is no bad debt fairy dust that will solve your credit problems overnight. However, there are a lot of things you can do that will boost your credit in no time. The only thing required is knowledge about the credit system and various loopholes in it.

Looking to borrow money or applying for credit at many places is detrimental to your credit score. In order to have a good credit score or to repair credit score, you should not have a long list of creditors making inquiries about you. Each of these shows up on your credit report and does result in you getting a lower score. If you want to raise or repair your credit score, start pinching pennies and paying your bills on time.

In order to repair your credit scores, it’s important to know where you stand currently. The three – digit numbers, which range from 300 to 850, are the key to your borrowing costs.

Paying off your installment loans ( mortgage, auto, student, etc. ) can help your scores, but typically not as dramatically as paying down revolving accounts such as credit cards. Lenders like to see a big gap between the amount of credit you’re using and your available credit limits. Getting your balances below 30 % of the credit limit on each card can really help.

Paying more than the minimum monthly payment is also another way to repair a credit score. Not only will it help to give you a good credit score, but it will also help you to pay off your bills before the actual due date. This is because you are paying more on the actual balance and thus lowering the amount of interest that you are charged each month. When creditors check out your credit report, they see you are conscientious and this looks good for you. It really helps to repair a credit score

Another alternative to improve your credit rating is through small loan or credit card. If you do not have any of them, you are encouraged to apply for one. Ask your family member or friend to be a co – signer for a small loan or unsecured credit card. The main purpose of doing so is to reestablish your credit. What you must do is to make prompt payment on your new loan. By doing so, you will be able to repair credit score gradually.

In order to add positive information to your credit report, you may request creditors to report your account information, as well as monthly payment history to a credit bureau which will help demonstrate stability in your credit file. Taking out secured credit cards will also help you build a solid credit history.

According to the mainstream credit advisers fixing credit takes time, determination, financial effort, careful budget planning and patience. This formula has proven to repair credit score over time. However, most of us want that fantastic house, brand new car now. Time is a luxury we ca not afford. And this is where credit tricks and little known secrets come into play. Why try to rebuild your credit gradually when you can focus on the negative items in your report that have the biggest impact on your score ? Why pay everything in full when you can negotiate settlement for a fraction of the debt ? Why getting delinquent accounts ” deleted ” from your report is much more beneficial that simply paying them off ? Learn more about the loopholes in the system and find the shortcuts to a better credit score

Raising credit score is not hard. There are various tricks and little known secrets that will help you boost your score in no time. Once you start thinking outside the box, you will be surprised to find how easy credit repair actually is.

Fast Credit Repair

Educate yourself about credit report repair Becoming credit smart, the smart first step is to take when considering credit repair programs and services. The choice is up to you. We have helped countless people access the information they need to repair bad credit reports and regain control of their credit status



How to get free credit report to raise credit score?

November 29, 2009 3:56 pm Published by

How to get free credit report to raise credit score?

One of the most essential things that you should work on is your credit score. It cannot be avoided though that sometimes we encounter problems with credit rating because of some situations we just cannot avoid. Thus, you have to look for ways on how you can raise credit score as fast as you can in order to save yourself from any further financial inconveniences. You can find many ways in order to resolve your problem regarding bad credit rating.

Here are a few foolproof ways to improve your credit scores that most people have found very useful:

1. Grab a copy of your own free annual Credit Report. You can get this free if you know where to look for it. Looking into your credit report can help you check for any inconsistency. Do you know how to get free credit report? The best agencies to get these reports for free are Experian, TransUnion and Equifax.

2. Study your credit report carefully. For all you know, you are having a bad credit rating because somebody in the credit bureaus made a mistake. For this reason, we should consider the possibility of credit bureaus committing mistakes when giving credit ratings to individuals. To make sure this is not going to happen to you, you need to analyze and check your credit reports well. Three bureaus that give these credit ratings are: Equifax, TransUnion and Experian.

3. Pay bills on or before the due date. This may sound too simple but this is actually the main reason on why bad credit scores are into existence. So if you aim to get a good credit rating, always try to make sure you pay your bills on time.

4. Never attempt to close your old accounts. Although some people would advice you to close previous accounts, it does not help in raising your credit score. Some say you should close it because it will increase your credit rating, while there are others who say we can increase it by keeping old accounts. The truth of the matter is, when you keep your old account, you have bigger credit available whereas if you close it, it will lower your credit and it will decrease your credit capacity.

If you want to get a good credit rating, you need to handle finances well. It is very important that you watch out for any activity that may cause your credit rating to go down. If at this time you are already having some issues with your finances then now would be a good time to start following these guidelines. This has always worked for a lot of people so it will certainly work on you, too.

And remember ? the first step on the way of new financial freedom is to get free annual credit report as soon as possible. Get one and review it again and again. If you are not sure of what to do, ask people. Ask a friend, a family member or someone who knows about credit reports. And in case there is something strange or unknown ask professionals. Do not allow lenders to reject your application any more. Do not be content with paying high bank fees. Take action to raise credit score immediately.
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Read more on why to raise credit score as fast as possible and get free annual credit report today.



New Law Forcing Credit-Card Issuers to Play Fair

November 27, 2009 5:19 pm Published by

New Law Forcing Credit-Card Issuers to Play Fair
The rules of credit are changing. Consumers will see improvements this month as credit-card companies roll out the latest in a big series of government-ordered reforms on how they operate.
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Read more on WallStreet Journal via Yahoo! Finance

The Credit Guy: Paying off debt to aid score takes time but is worth it
Q: If I pay an account off that has been delinquent since 2005,will the delinquent account stay on my credit for seven years fromthe date of my payment?
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Read more on Arizona Daily Star

Where Do You Stress?
The European stress tests continue to be discussed in the media. The irony is that the stress tests were intended to de-stress the markets. Instead, the response has been all over the place.There were the suspicious:”European Union stress tests found banks need to raise 3.5 billion euros of capital…
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Read more on The Daily Reckoning



Fixing Credit Report – New Step to Dispute Credit Successfully

November 24, 2009 7:00 am Published by

Fixing Credit Report – New Step to Dispute Credit Successfully

Fixing credit report techniques have changed with time.  I figured this out in the last year that I’ve been working on my credit report more aggressively.  I had been sending letters disputing a few collections that were just not budging.  Unfortunately I was starting to consider the idea of just paying the whole thing off and having them agree to delete the item from my report.  I tried working with them while I was going through my rough patch as I like to call it but to them it was pay me now or we go to the next step.  That’s where we are now.

 

I had been reading an old credit book that I picked out of the garage.  One we never bothered to put back on the book shelf after we moved.  Anyway it had great ideas on learning about the credit laws and sending disputes to the credit bureaus.  I had tried that as I mentioned and it wasn’t working with this particular company.

 

Fearing the worst which would be paying these blood suckers the amount requested.  I looked for more information online, as many do everyday.  I was really battling the idea of paying them.  What I think made the difference was the fact that in my initial contact with the company I made the mistake of telling them a little about my plans to buy a home and stuff and I wanted to do it before this whole credit for first time buyers expired.  I can almost bet they made a little note on their system saying they could get more money out of me because I was trying to get ready for this move.

 

Either way, I figured they were blowing my chance at taking advantage of this credit so I looked for better ways to dispute with them.  I got my hands on a fixing credit report manual that outlined a nice little step to deal with credit collection companies that don’t have the required documentation to collect from you.  Here’s what I mean.

 

The credit collection company had to provide me a copy of the original contract and paper work I signed when I applied for the account.  That was something I never thought about.  Just like the book said.  If I owe Joe 300 dollars, would I pay Mary 300 just because she says she’s calling for Joe?  Duh, I never thought of asking for proof of the debt.   By what I learned, I could ask the collection company for the proof of my debt.  Well it worked great.  Not only did they not have the copy of the original paperwork.  The original credit card company had merged with another, making it more difficult for them to source out a copy of the contract.  Needles to say, I paid them nothing and they couldn’t show proof.  This gave me the opportunity to demand the bureaus to remove the item.  That was the twist my dispute letter needed, to make it work.  Again, something I never would have thought about doing while going over ideas on fixing credit report techniques.  In the end I settled with some, disputed others and had duplicates erased.

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

Fixing Credit Reports

Fix a Bad Credit Report

Copyright 2010 Rene C. Alexander.

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How To Fix Credit

November 22, 2009 6:38 pm Published by

How To Fix Credit

Learn how to fix credit and all of a sudden a whole new financial world will open up for you.

 

What should you do? There are several things you can do to raise credit scores, but foremost among them is to get current copies of your credit reports. The Fair Credit Reporting Act allows consumers one free credit report per year. You can also request a free credit report if you have recently been denied credit. To accomplish this, the three major credit bureau’s have formed one agency online for consumers to visit. There you can inout your information and get copies of your credit reports. You will not get your credit scores though. Credit scores are sold to you because Congress left out that requirement, allowing for free credit scores when drafting the final version of the Fair Credit Reporting Act.

 

Like anything else, learning how to fix credit will take some time and study.When you begin to study how credit works you will see that raising your credit score is not magic. There is no need to pay an outside service to increase your credit score. You will also learn about credit and how to use it to influence higher credit scores. If you haven’t taken advantage of the free credit report option required by the Fair Credit Reporting Act, You can go online and get your free credit reports. You will have to purchase your credit or FICO scores though because this is how the credit reporting bureau’a make their money.

 

How to fix credit will start with the process of writing a dispute letter. There is no standard form for this, but I will encourage you to be very thorough when you submit this. You also want to make sure that you address the letter to the right agency. You should always start with the credit reporting agency and that will be Transunion, Equifax and Experian. One letter does not cover all three agencies. Each credit reporting bureau has their own file and their own software in order to rate you. You will have to dispute each bureau individually.

 

Credit scores should not define you. These scores do not measure what kind of person you are. A credit score does not evaluate you as an individual. It makes no difference what your gender is. It makes no difference if you are a mom or a dad. A Cub Scout leader or a race car driver. Likewise it makes no difference what part of the country you live in. FICO scores are risk scores and the number is a prediction of what you will do in the future. This prediction is based on your financial history. Do you pay your bills on time or are you traditionally late? Do you use up all of your credit line? The theshold is 30%, so do you use it up and not pay it off?

 

A big factor in considering a credit score is the number of accounts you have. Why does a person need 20 credit cards when the average person in the

 

USA has four? These are risk evaluations and the number of high risks spell trouble which is reflected in lower credit scores. Fortunately for consumers, credit can change on a daily basis. The number of open accounts can change. the balances you have open can change and go either above or below 30%. Everything from charge offs to accounts that are paid in full will have an effect on your credit scores.

 

One of the newest forms of credit repair and a very exciting way to fix bad credit is with online credit repair software. AVAIL Credit Coach is especially powerful as it offers an in depth credit analysis of your credit reports. the software is sophisticated enough to spot common reporting errors and will even generate a dispute letter for you. All it takes is a click of the mouse.

Fast Credit Repair

Millions of consumers are worry and wondering how to fix credit . Credit repair services are luring unsuspecting debtors with promises of fast results, but the truth is that you may need a lot more than just credit repair. Wouldn’t you like control over your credit file in terms of what stays in there and what is tossed? If you could get online credit repair software to help you manage your credit report, wouldn’t you want it? Why pay an outside company when you can fix your own credit?

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