Archive for: February 2014

14 Sample Credit Repair Letters for Competent Disputes that Work

If you think debt repair is just sending one template dispute letter, think again. Credit restoration is a process. You can see from these free 14 credit repair letters that it takes escalation and a strategic knowledge of your specific situation to get the job done quickly and competently. Without the right information and without follow up or follow through, these credit dispute letters will not work on their own.

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How to Be Your Own Credit Repair Specialist

To err is human. But if you’re shopping for a new car loan, mortgage or credit card, having an error on your credit report can be costly, and there’s a need for a credit repair specialist.

According to the FTC, one in four consumers have errors on their credit reports and those errors could affect your credit score. And if you’re looking to apply for credit, even one point can be the difference between hitting a “good” threshold or being labeled “fair” or worse. Yet experts say a majority of consumers aren’t aware of credit report errors until it’s too late. In fact, the FTC study says approximately one in 20 consumers had errors that resulted in losing more than 25 points from their credit score.

 

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Credit Repair: How to Help Yourself

You see the ads in newspapers, on TV, and online. You hear them on the radio. You get fliers in the mail, email messages, and maybe even calls offering credit repair services. They all make the same claims:

“Credit problems? No problem!”

“We can remove bankruptcies, judgments, liens, and bad loans from your credit file forever!”

“We can erase your bad credit — 100% guaranteed.”

“Create a new credit identity — legally.”

 

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Is there a legit company to fix my credit score?

Dear Debt Adviser,

Is there a legitimate company out there I can consult to assist with increasing my credit score and deleting derogatory marks on my credit report? Thanks for your time and consideration to my question.

— Quan

 

Dear Quan,

I know it seems strange that in our age of instant everything, some things still take months or even years to accomplish. But, in the case of credit scores, it’s true. Your credit score is based on your past actions, and your past took time to create. Sometimes, it’s even longer to outlive. When you’re late on a bill, it stays on your credit report for a long time and there is little you can do about it. But yes, there are still some things you can do.

 

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Repair Kit for Damaged Credit

Your credit score is an incredibly important part of your financial life. All your creditors will look at your score to determine whether you’re eligible for credit and, if so, at what interest rate. The higher your credit score, the lower the interest rates you pay on credit cards, car loans and mortgages. Even landlords, cell phone companies and some employers look at your credit score, because if you can’t be good with money, you might not be a good tenant or employee. So you want to do everything you can to make sure your score is as high as possible.
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How to Raise Your Credit Score Fast

What’s a Credit Score?

In this post I’ll tell you how to raise your credit score fast. Credit scores—they’re like report cards for grown-ups. It’s a three-digit “grade” you get on a scale that ranges from 300 to 850. Your score indicates your creditworthiness to potential lenders, banks, landlords, insurance companies, and even to some employers, for instance. I’m sure you know that the higher your score the better.

 

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How to Eliminate Credit Card Debt

Minimum payment due, reads the box on your credit-card statement. What an enticing idea: Pay a small amount and you’re off the hook for the whole bill—for a while, anyway. Alas, as the more than 45 percent of Americans who carry a balance every month know, that rotating charge usually comes back to bite you. For example, a cardholder who owes $15,956—the average amount of debt per household, according to Ben Woolsey, the director of marketing and consumer research for CreditCards.com, a credit-card–comparison site—will end up shelling out an additional $11,000 in total interest if she pays only the minimum each month.

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Debt moves the world

AFTER the IMF lowered its global growth forecast for this year and next, it is worth reflecting that, despite all the efforts of the central banks, this is a very wimpy recovery. There are a number of potential candidates for the problem; poor fiscal policy (in the form of austerity), the effect of demography, or Robert Gordon’s ideas about the lingering impact of innovation. But the debt burden taken on by developed economies in the run up to 2007 and 2008 is surely the most significant factor.

 

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Controlling your personal debt

Learn how to control your personal debt and accomplish your financial goals,by making your personal debt work for you.

1. Americans are loaded with credit-card debt.

2. Some debt is good.

3. Some debt is bad.

4. Get a handle on your spending.

5. Pay off your highest-rate debts first.

6. Don’t fall into the minimum trap.

7. Watch where you borrow…

 

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12 Yr Old Girl Explains What Most Economists Can’t About Money And Debt

The youtube video of 12 year old  Victoria Grant speaking at the Public Banking in America conference last month has gone viral, topping a million views on various websites.

Monetary reform—the contention that governments, not banks, should create and lend a nation’s money—has rarely even made the news, so this is a first.  Either the times they are a-changin’, or Victoria managed to frame the message in a way that was so simple and clear that even a child could understand it.

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