Tag: top credit repair

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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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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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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How to clear mistakes from your credit report

Have you ever been horrified to discover errors on your credit report? Such inaccuracies can and should strike fear into any conscientious consumer’s heart because of their punishing consequences.

What consequences, you ask? Well, they can result in higher interest rates whenever you borrow money, and they can even affect your ability to qualify for credit, insurance, employment or rental housing.

 

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How Do I Correct My Credit Report? Steps to Fix Issues

Easy steps to fix a potential problem

If you find something on your credit report that doesn’t seem right, this quick video from TransUnion tells you what to do. Learn how to contact creditors and the credit reporting companies.

What Debt Collectors Can’t Do to Recover Your Debts

Knowing what debt collectors cannot do to collect a debt from you may help you deal with and protect you from their approaches to debt collection.

The Fair Debt Collection Practices Act (FDCPA) is the federal law that governs debt collection for personal, household, and family debts like your mortgage and car loan, other personal loans, your credit card debts, past-due utility bills, past-due student loans, medical and insurance debts, condo fees, unpaid legal judgments against you, and bounced checks. The FDCPA applies to outside debt collectors, but not to a creditor’s own in-house debt collectors (meaning debt collectors who are employees of a creditor).

 

 

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The Truth About Debt Consolidation

Myth: Debt consolidation saves interest, and you have one smaller payment.
Truth: Debt consolidation is dangerous because you treat only the symptom.

Debt consolidation is nothing more than a “con” because you think you’ve done something about the debt problem. The debt is still there, as are the habits that caused it – you just moved it! You can’t borrow your way out of debt. You can’t get out of a hole by digging out the bottom. True debt help is not quick or easy.

Larry Burkett, noted financial author, says debt is not the problem; it is the symptom. I feel debt is the symptom of overspending and undersaving. Our financial coaches will not recommend debt consolidation for a client. Why? Because debt consolidation doesn’t work.

 

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5 reasons you’re in debt up to your eyeballs

credit repair debt

credit repair debt

We’ve all seen the LendingTree commercials where the guy says:

“I’m in debt up to my eyeballs. I can barely pay my finance charges. Somebody help me!”

If that sounds like you, read on. Here are a few reasons why you’re swimming in debt and what you can do about it.

No spending plan. Without a plan or financial goals, you’re headed down the road to digging yourself deeper into debt. A spending plan establishes goals and principles. If your goal is to save $20,000 for an emergency fund, then you need to avoid more debt along the way.

 

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How to improve and protect your credit rating

 

bad credit rating

bad credit rating

Why does a bad credit rating matter?

A bad credit rating can limit your borrowing options. County Court Judgments (CCJs), defaulted payments and bankruptcy orders leave a black mark against your name when trying to secure credit.

Meanwhile, if you miss credit card payments, direct debits for energy bills, or other commitments, you could find a mark placed against your name that will cause you problems.

The first sign can often be when you apply for credit and get turned down. This then leaves footprint on your file and if you collect a lot of these it could make matters worse.

 

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