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Some Quick, Easy Ways to Raise Your Credit Score Reviews

August 22, 2010 5:00 pm Published by

Some Quick, Easy Ways to Raise Your Credit Score

This Element is an excerpt from Homebuyers Beware: Who-s Ripping You Off Now?-What You Must Know About the New Rules of Mortgage and Credit (ISBN: 9780137020164) by Carolyn Warren. Available in print and digital formats. Nine practical ways to raise your score-quickly and easily! Do you just love supporting the fat cats on Wall Street? Want more of your hard-earned money going to increase their profits? No? Then you must pay attention to your credit score so you can qualify for a lower interest
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Repair Credit and Get On With Your Life

August 22, 2010 5:00 am Published by

Repair Credit and Get On With Your Life

Credit repair does not have to be that complicated. To repair credit, you have to do some simple tasks. Of course it depends on your unique situation, but if you are like most people who need credit repair (and likely, you are), simply sending out basic credit repair letters will improve your profile a lot.

So what do we mean by “most people.” Well, the economic situation is unstable, of course, and there are a lot more people without jobs, losing their homes and cars and assets. This is not what is meant by ‘most people.’ The common person needing to repair credit is like this: twenty something, did some foolish stuff with credit when they were younger, never really figured out how to fix it. Or, they might be people who had a tragedy or loss of income and had to file bankruptcy. These people can generally expect to get some really good results from credit repair, especially if there are still several old accounts showing up on their credit report.

When a person undertakes credit repair, the first thing they need to do is to get their credit report. This is an essential step and there are a lot of good places to get your credit report on the web. You don’t need to buy any of the ‘up’ sales. When you get a free credit report, many websites will give it to you because they think they can sell you something else and make their money on that sale. You don’t need to buy those things though. Just get the report.

When you review it, try to determine what things you think should not be on there. That is what you are going to dispute. When you dispute those things, you need the account name and account number for the credit dispute letter. That is what you put on the credit repair letter.

Credit dispute letters exist in many varieties. They should look like they are coming from a ‘real’ person, so there’s no need to make them perfect, but you need to get your point across when you write these credit repair letters. There are a lot of form letters you can find on the web. The FTC even provides one. Consider personalizing the letters a bit, as these letters have no doubt been copied thousands of times. Just change some of the wording or change up the font a bit. This will help you in the long run because the credit report companies scan these letters looking for letters that look the same so they can call them ‘frivolous’ disputes and throw them out.

Don’t be overwhelmed by the self credit repair process. Credit disputing is not that difficult. Just do it and get on with your life.

 

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Matthew Wierzbinski is the owner of http://CreditBlossom.com, which offers both written and video instructions on how to repair your own credit. It also offers the public free use of its amazing credit repair letter generating tool, the free and easy Credit Repair Letter Wiz™, which can be found at http://creditblossom.com/Content/LetterGeneratingTool.aspx .

 



Foreclosures draw professional ‘flippers’

August 21, 2010 5:00 pm Published by

Foreclosures draw professional ‘flippers’
LOS ANGELES, Aug. 20 (UPI) — In a sign of the times, more professional investors are looking for easy profits by buying and “flipping” foreclosed homes, the Los Angeles Times said. Foreclosure – LOS ANGELES – United States – California – Counties
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Business briefs
Harris reports revenues flat Pierce’s fines top $ 114,00K Credit union to boost lending
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Read more on Rochester Democrat and Chronicle

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The Dow Jones industrial average plunged more than 140 points. More Changes in the pattern of people moving to Western North Carolina have some economic development officials considering the long-range effects on the regional economy.
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Read more on Asheville Citizen-Times

Moody’s upgrades eBay’s issuer rating to ‘A2’
SAN FRANCISCO (MarketWatch) — Moody’s Investors Service on Thursday raised eBay Inc.’s issuer rating to A2 from A3 due to the company’s strong credit metrics and performance through the economic downturn as well as its solid liquidity profile. “The upgrade reflects eBay’s solid debt protection measures that are derived from its strong market positions in its online marketplaces and payments …
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Basic Credit Repair Tips

August 21, 2010 5:00 am Published by

Basic Credit Repair Tips

Have you ever wanted to be a doctor? To be able to cure what ails people? Well, in the credit sense, and with credit repair tips, you can be the doctor who cures your credit health. Continue reading for some tips on how to repair bad credit.

Did you know that you have rights as a consumer? Well, you do. The federal government enacted a law called the Fair Credit Reporting Act (“FCRA”) which is meant to protect you as a consumer. The reason behind the FCRA is to allow consumers a second chance in the event of a less-than-stellar credit standing.

Here are some basic credit repair tips so you can start your own credit repair:

–  Pay your bills on time.
–  Obtain a copy of your credit report
–  Challenge any inaccurate information on your credit report.
–  Take steps to rebuild your credit history.
–  Know your rights.
–  Get your credit cards below the maximum limit.


Here are some other tips on how to repair bad credit which might help with your diagnosis and beside manner, financially speaking:

You can get your credit report from these three reporting agencies – Experian, Equifax and TransUnion. Try to attain one from each.

Be careful not to allow yourself to fall for any scams that are out there. If they suggest to open a new credit file, beware. THIS IS ILLEGAL! Repairing your credit DOES NOT require obtaining another number from the IRS!

Commit yourself to this process. Get organized and ready to deal with the paperwork and making the phone calls. Nothing happens overnight (except maybe earthquakes!); however, following through could make the future more rosy!

You can do everything that an “online” company can do and save yourself money in the long run. However, if you do decide to use an online service, make sure that you choose a company that is reputable. Repairing credit is a billion dollar business and there are many companies out there that are not looking out for your best interest!

All of the tips on how to repair bad credit which I have mentioned above should help in your quest to rid yourself of the dreaded credit cancer! You will need patients (oops, patience) and a determination to follow through with the process. These basic credit repair tips are but a few which can help with your credit repair program. Go ahead. Physician, heal thyself!

Jeff Ragan wants to help you learn more about credit repair available and other helpful information on their website, First-Time-Home-Buyer-Solutions.com.

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For over two decades now Mr. Ragan has helped people reach their goals. With his years of experience in construction, real estate investing, mortgages, credit repair and more, he can help you find the home of your dreams. By teaching others how to make educated decisions based on accurate knowledge, many have found him to be a good source of information.



Fix Credit Report – Improve Credit Score

August 20, 2010 5:00 pm Published by

Fix Credit Report – Improve Credit Score

Correcting credit errors such as charge offs and collections is not usually performed overnight. However, it is a quicker process if you dispute items in the proper order.

If your credit is a mess, chances are you have a variety of bad credit listings such as charge offs and collections. Some items are more damaging than others.

Ordered below is the list of negative items as they correspond to their severity.

Public Records/Bankruptcy are the most severe. Public records include tax liens and court judgments. These items are allowed to remain on your credit report for 10 years – as opposed to the seven years limitation rule that applies to other items.

When you file bankruptcy, you will have multiple negative credit items. You will have the bankruptcy itself as well as any items that were included in the bankruptcy case. All these notations are equally severe.

A single collection item can lower your score by as much as 100 points overnight. You should dispute any collection error as well as negotiate with the agency for a removal.

Foreclosure/Repossession are likewise very severe. These listings are severely damaging to your score and can keep you from getting the next mortgage or car loan.

A charge off is very severe. You may even have multiple listings on your report for a single charge off since it is bought and reported by third-party collection agencies.

A recent late payment surprisingly is equally bad as a charge off. The more recent a black mark is on your credit report, the more it lowers your credit score. Multiple late payments only make matters worse. The credit bureaus interpret multiple late payments as signs that you are having a financial meltdown.

Moderately severe items include a 30,60,90, or 120 day late payment. These items can either be disputed with the credit bureaus or negotiated with the creditor.

The credit scoring formula is biased more towards recent late payments. Older late payments should be given a low priority in your dispute process.

Incorrect Personal Information such as a wrong address or employer is not important. The credit scoring formula does not use this information to generate your score so it is less important compared to the items above.

In order to quickly clean up your credit report, you must challenge the most severe items first. It does no good to focus your time and effort on insignificant items like your employer or address.

To learn more about credit repair or a free credit repair letter to dispute negative listings visit us. To learn about lexington law a professional credit repair firm visit us.

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Edited by: Michael Saunders

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