| |
| |
|
Kellys Credit Information |
|
|
|
The Right Way To Credit Repair
If you have a bad credit rating, then you might find that your ability to get financing, loans, and even some jobs is greatly diminished. Once you have a bad credit rating, it might seem like there's nothing that you can do about it? but you don't have to believe that. It's not as difficult as you might think to get by with a bad credit rating; with a little work and time you can even repair it! Of course, before you do that it's important to realize exactly what a credit rating is. Every time a lender or other creditor makes a report concerning your payment history to them, this report affects your credit score. Your credit score is a numerical indication of the positive and negative reports that you've received from creditors and lenders; if the number is high then you have a good credit rating, and if it's low then you have a bad credit rating. Basic credit repair Get organized! Make a folder for all your correspondence offline and online. You will have to do some snail mailing but in most cases you can work your repair online. In the U.S. a 630 rating will qualify you for a mortgage. You can still get credit with a lower score but not at a premium interest rate. In fact, even a chapter 11 bankruptcy (erases all negative credit) is not as bad as many think. I am not advocating filing for bankruptcy (the laws have changed so you might have to set up a re-payment schedule if your income allows) but for those caught between a rock and hard place, unemployment, medical crisis, divorce...many good reasons for finding yourself unable to pay your bills, filing for bankruptcy is a god-send. Many times, you will find creditors very eager to extend credit because you don't have any debts! It is the irony of the debt-income picture... if you have a steady income, you will have no problem getting credit cards, auto loans and even a mortgage. So, don't despair, your situation is not as bad as you think! You will find a way to less worry, more sleep and better relationships. To begin correcting your credit, the important thing to do is obtain your credit report and study it. Mark all the negative items. Most unsecured credit, mostly credit cards, can stay on your report for 7 years. If you find any over that, write to the credit bureau and ask them to remove it. They are required by law to research and report back within 30 days. If they don't, you can threaten them with a letter to the Better Business Bureau or Federal Trade Commission. Find any other negative items and determine if they are correct. If not, write the bureau and tell them its not your debt. Even if you aren't sure, ask the credit bureaus to investigate. Many times, they will not be able to verify the debt because the credit card company, auto loan company, or other creditor won't get back them within 30 days (required by Fair Credit Act). For the contact information on credit bureaus as well as samples of letters to send to them, go to: http://www.repair-credit-right.com You may freely reprint this article provided the following author's biography (including the live URL link) remains intact: Dan Farrell is the owner of Repair Your Credit...The Right Way and this article on credit repair and others on credit can be found by going to:
MORE RESOURCES:
Credit - Google News |
|
|
|
RELATED ARTICLES
Credit and Loan Help for Mortgage Loans Mortgage loans are some of the most difficult loans to receive if you have bad credit because lenders focus heavily on your credit score and history of making payments on time. However, there is credit and loan help for individuals interested in home mortgage loans. How Healthy Is Your Credit There's only one way to discover the "health" of your credit. You need to examine your credit report. Credit Cards Credit cards are a form of unsecured credit. The issuer is extending you a line of credit, usually tacking on all sorts of little surprises in the fine print. Tips for Choosing a Credit Card Company Credit Cards are essential for any consumer today. However, when choosing a new credit card company, many people do not know what to look for. Top 5 Reasons To Check Your Credit Report Regularly #1 Make sure mistakes aren't hurting your credit.Reviewing your credit report can help you avoid costly errors. Useful Tips When Choosing Credit Cards Chances are you have received your share of "pre-approved" credit card offers in the mail, some with low introductory rates and other perks. Many of these solicitations urge you to accept "before the offer expires. Get Your Credit Score To Soar In The Twinkling of An Eye Ever wonder how a creditor decides whether to grant you credit? For years, creditors have been using credit scoring systems to determine if you'd be a good risk for credit cards and auto loans. More recently, credit scoring has been used to help creditors evaluate your ability to repay home mortgage loans. Minimum Credit Card Payments to Rise For years, major credit card companies have allowed cardholders to make minimum payments of 2% of the outstanding balances on their credit cards. Having customers pay the minimum doesn't reduce the balance by very much, but when the 18-30% interest rates that many credit cards charge is applied, the result is a profitable ones for the banks that issue credit cards. Clean Credit Report: Easily Raise Your Credit Score 100 points Clean Credit Reports, your credit report contains information about where you work, live and how you pay your bills (On time or not). It also may show whether you've been sued, arrested or have filed for bankruptcy with in the last 10 years. Credit Card Balance Transfers Explained What is a balance transfer ? A balance transfer can be explained simply as a balance transfer! When a balance is transferred usually from a credit card, but possible from a bank account or loan to a credit card with a offer interest rate (usually 0%) for a set period. It does not have to be the entire amount. How To Boost Your Credit Score Years ago your credit score was a big secret, known only to a select few such as your mortgage and credit card companies. In 2000, Fair, Isaac Co. Watch Out For Credit Repairs It is very easy to find a site that is neat, professional-looking, and one that offers a free three-agency credit report and free credit report without a credit card.This scam is too good to be true. What You Need to Know About Credit Reports You hear people talk about credit reports all the time but do you know what they are really all about? Well, if you have ever been turned down when applying for a credit card or a loan it is high time you learned all about your credit report and how you can get it working for you instead of against you.Let's start off by explaining what your credit report actually is. New Credit Scoring Model Could Help Millions Mark and Beth, a young married couple in their twenties, established a goal to buy a home within the first three years of their marriage before starting a family. They budgeted and used their money wisely in order to save for the down payment. Credit Report Disaster Through Mistaken Identity I've got some very important info I want you to think very seriously about. I'm sure by now you've heard of Identity Theft,. Good Credit Is Not A Good Reason To Borrow More Money After Youve Achieved Financial Freedom The most important thing for you to remember is that the only way you'll ever be able to achieve financial freedom is if you are able to avoid getting back into debt once you've paid off everything that you owe. It seems like a lot of the different websites that give advice regarding bad credit are not looking at this the right way. Credit Report - Look Out for Your Debit Report, Too Most consumers are aware that there are companies that keep track of their personal financial transactions - installment loans, mortgages, credit card accounts, bankruptcies and judgements. These items are assembled by the three main credit bureaus into a credit report, which is available upon request by lenders, employers and anyone else with whom a consumer might do business. Free Credit Report - Really 2005 marks the year that consumers will be able to get a free credit report each year. The roll out of the Fair and Accurate Credit Transaction Act signed into law by President Bush actually began last December 1. The Art of Stoozing to Make Money from Credit Cards Make Money from StoozingStoozing, this is a sophisticated method of making money from credit cards that offer 0% introductory periods, the method requires cast iron discipline in never spending on the cards.But, I hear you all ask - what is stoozing and can I do it?Stoozing, in the simplest terms is borrowing money from credit cards that offer a 0% introductory deals and saving that money in a savings account for the duration of the offer on the credit card. Sound Advice For First Time Credit Card Users If you are just entering the world of credit cards, there is important information you will need to know in order to manage your credit and your finances effectively. Establishing good habits and a good credit history now is the foundation for a solid financial future.
|
| home | site map |
| © 2006 |
