Category: Credit

Your Credit Score Affects Your Love Life

A few years ago, credit scores were taboo. The idea that a credit score could be used for more than just determining qualification for a loan was at best unfair and at worst discriminatory. Employers in some circumstances can use credit scores or credit reports to determine whether to offer jobs to applicants. If you sign a credit authorization form, which some employers might imply or outright say is necessary to be considered, the company can use your credit against you.

Auto insurance companies can use credit scores to set your rate because they’ve found that there is a correlation between higher scores and safe driving. If you intend on renting an apartment, the landlord can choose to perform a background check, and credit history could be included.

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Do Credit Repair Services Really Work?

You’ve seen the ads claiming to be able to fix your bad credit, but do credit repair services really work? Honestly, many of the companies are a scam. But the credit repair services that have been around for a couple decades know the rules surrounding credit repair and know how to navigate those rules to either raise your credit score or give you your money back. That of course doesn’t mean that it works for everyone. There is no magical formula to raise your credit score in a hurry, but there are a few instances where credit repair can help you give your score a deserved bump.

 

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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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Clean Up Your Credit Report and Score Yourself Quickly

Credit scores and what shows on your credit report can make all the difference in getting that new home or car that you are wanting to purchase. Even if your credit scores are good enough to get the loan, the lower the score the higher your interest rates will be. There are ways to repair your credit report and increase your scores. Bad credit can be repaired to allow you to get the loan. Good credit can also be repaired to allow for you to get the loan at an interest rate that will save you a lot of money.

 

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