Credit Repair services » Credit Counseling

Instant Credit Score Repair

admin — Sat, 27 Mar 2010 04:19:24 +0000

Have ever asked yourself: How can I raise my credit score fast, to keep up to date with the fast moving credit. So get on the credit repair fast track and check out The Credit System today.

Get a copy of your credit report and then you dispute the negative items it has. If the item you are disputing does not respond back to the bureau within those thirty days the item will be automatically removed from your credit report. Once you obtain the evaluated reports, you will be provided with a full evaluation of your credit, including tips on how to boost your credit score and a full dispute process.

But do not be misled. There are no instant solutions. Although some credit counseling businesses “guarantee results or your money back,” you may find that there are hidden strings attached or that the company is gone when you want your money back.

There are steps you can take to help solve your credit problems. Solving credit problems takes time, patience, and some understanding of the laws and rules. So if, for example, a creditor says you were denied credit because you have not worked at your current job long enough, you might want to reapply after you have been at that job longer. Or, if you were denied credit because your debt-free monthly-income was not high enough, you might want to pay some of your bills and reapply.

Remember, also, that credit scoring systems differ from creditor to creditor, so you might get credit if you applied for it elsewhere.

By: Tarron Acuff

How To Clear Your Credit Report

admin — Fri, 19 Mar 2010 02:51:00 +0000

If you’re being turned down for credit left and right by every mortgage broker, credit card company, and landlord, or you’re not even able to refinance your own house, that is an indication that you have some negative items on your credit report that are scaring away lenders. You have two choices: You can either walk away and decide to wait out the next seven years until those negative items drop off your credit report, or you can take control over the situation and learn how to delete negative items from your credit report.

You may have seen those advertisements where those law firms or credit counseling companies promise to fix your credit, raise your FICO score, and get you a fresh start. How do you delete negative items from your credit report? The answer is based on a law passed by Congress in the latter half of the twentieth century known as the Fair Credit Reporting Act. This law was passed to protect consumer’s rights to access their credit report and play an active role in ensuring that it does not contain any inaccuracies or misrepresentations of your true credit profile.

If you have derogatory information contained in any of the credit reports issued by the “big three” credit bureau, you simply need to write a letter to each respective creditor disputing the accuracy of that particular entry in your credit report. By law, then the bureau must contact the creditor to verify that specific item that is in dispute. And here is where the law works in your favor: If the bureau is unable to verify the accuracy of the information within 30 days, they are required to delete that item from your credit report altogether!

Here is an example of how you would do this: Let’s say that you were late for your mortgage payment in May of last year, you simply write a letter to the credit bureau that is reporting that late payment, detailing that entry, and including your name, address, and social security number, in which you state that in accordance with the Fair Credit Reporting Act, you are disputing such and such entry as you believe it may be inaccurate. And in this letter, you must state that, in accordance with the Act, if the agency does not verify this information within 30 days, then they are required to delete the information from your credit report.

Now what if the bureau is able to contact the creditor and verify the information within the 30-day timeframe? Well, then the information stays on your credit report. What if the creditor is a little slow but gets back to the bureau within 45 days? Then yes, even though the bureau deleted the item after 30 days, the information can be added back in the subsequent month. But through patience and persistence, if you follow this method, you will eventually be able to improve your credit score. There is no 100% guarantee, however, which is why shouldn’t pay anyone to fix your credit for you, unless they offer a money back-guarantee if your credit score doesn’t improve within a specific period of time.

A couple of bits of advice: Write one separate letter to each bureau for each disputed item. For example, if you have five derogatory items on your report, that were reported to all three bureaus, then you should write fifteen letters. This way you can track the progress of each dispute, plus it guarantees that the credit agency will pay individual attention to each one. Give them more paperwork to process and they will be that much more backlogged to meet their thirty-day deadline.

And one final bit of advice: The Fair Credit Reporting Act also allows the bureaus to disregard your dispute if it s frivolous in nature. In other words, if you do something to cause them to suspect that you are just filing disputes that you know are more than likely to be accurate, just for the sake of flooding them with requests, then they can disregard your inquiry and not take it seriously. Therefore, be careful not to do things like repeatedly dispute the same item over and over again if it keeps on getting verified. The law was passed to protect the legitimate needs of consumers against credit fraud or data entry errors.

By: Hyder Khan

The Credit Repair Secrets to Credit Restoration

admin — Fri, 26 Feb 2010 14:27:21 +0000

Credit restoration is a long process for most people and it can be discouraging and frustrating. Most people think that in order to restore their creditworthiness, they have to pay off everything, pay bills on time, live within their means, and wait for their bad accounts to hit the point where they drop off of their credit report. Some people just give up because the process seems impossible. These people are not familiar with the credit repair secrets and they need credit counseling.

Bad credit is usually a result of one of two situations:

Income interruptions Getting too deep in debt

Unemployment and health issues that keep the breadwinner from working are usually income interruptions that you just can’t avoid and it may seem impossible to catch up. Even you previously had good credit, the missed or late payments, repossessions and so forth stay on your credit report haunting you day after day.

If you are one of those that got too deep in debt, rest assured, you are not alone. It is human nature to take advantage of credit without knowing how or when you will pay the debt off. Most people don’t realize the problem until the minimum payments exceed the income.

Credit counseling, along with the credit repair secrets that professional credit experts know, could be the resolution to your tribulations. To get the best results concerning credit restoration it is best to get credit counseling from a professional in the field. They can advise you the best way to get out of your current situation and take the steps necessary to restore your creditworthiness.

The services conducted by your credit counselor may include:

Negotiating with your creditors Advice on credit consolidation or restructuring of debt Correcting your credit report Credit repair Raising your credit score

There is a lot of well-intended advice about credit restoration and do-it-yourself procedures; however, many people who follow such advice end up in a worse condition than they were in to begin with. It is highly advisable that you get a professional to work on your case.

Through my years of experience in the field, I have found that every case is unique. The tips for credit restoration simply cannot be generalized. What worked for one person may not work well for you. Through credit counseling, your individual circumstances can be reviewed and a list of options that will be most beneficial to you for restoring your credit can be formulated. The stress, frustration and discouragement will be removed and you will be on the road of recovery concerning your financial health.

By: Laurence H. Michelson

Easy Credit Repair

admin — Fri, 20 Nov 2009 11:24:36 +0000

Today, many people end up needing credit repair. How can you find reliable help? Can you repair your own credit? Yes you can, or you can use a good credit repair company. Learn how in this article to determine which is best for you.

Understanding how to remedy this situation will give you the confidence necessary to take charge! Knowledge will allow you to snatch yourself (and your checkbook!) back from the snarling creditor wolves. Remember, Little Red Riding Hood survived her wolf and you can, too!

If you are one of the many people trying to stave off the creditor wolves (or even if you are not), just keep reading. I will explain the ins and outs of credit repair. Oftentimes, people believe there is no way out. However, I am here to tell you that you can fix your bad credit.

It is important to understand how you ended up in a debt situation now requiring credit repair. In many cases, bad credit commences with:

- too many credit cards, most of which (if not all) have outlandish balances;

- no or little accumulated rainy day savings funds;

- overdue bills; or,

- just bad financial decisions.

People, for the reasons mentioned above, frequently suffer from a phenomenon known as “bad credit”. Assistance can be found in the form of credit and debt counseling. Essentially, you can obtain bad credit by:

- not being able to purchase on credit; or,

- by having a less than stellar credit report, though you still may be able to purchase on credit.

At this point, I would like to go out on a limb and state the obvious…credit repair can be AVOIDED by:

- not running your credit cards up;

- not paying your bills late;

- not spending more than you bring home;

- squirreling away some money each paycheck for that unexpected expense or vacation; and,

- making good financial choices.

It’s never a good thing to have credit issues hanging over your head. You really need to get rid of them so you can get on with your life. They do not go away by themselves. So you must take action. If not repaired, over the years it can cost you thousands of dollars. You first need to understand how to read a credit report.

There are three major credit reporting agencies–Experian, Equifax & TransUnion. These credit bureau agencies gather information from various sources about a person’s credit history. They then compile a unique summary of the relevant information, called a credit report.

Credit report information contains credit and non-credit information. Examples of credit information are names of creditors, credit card/loan account numbers, current balances, monthly amounts due, and number of past due payments. Likewise, examples of non-credit information are a person’s name and previously used names, current and prior addresses, social security numbers, and employment history.

Negative credit report information will remain on a person’s credit report for anywhere from seven to ten years. Credit inquiries, on the other hand, can only remain on a person’s credit report for two years.

Ok, so now you know just enough to get started. You can see how having bad credit is costing you money. You’re tired of the pain. You want help. Or at least you want to know where to find help you can trust.

There are many credit repair programs out there. Where do we start? So first things first. Getting a copy of your credit report with the scores is needed. Feel free to visit this “credit repair” website to learn more. This could be the beginning of a new life for you.

By: Jeffrey Ragan

Help You Repair Credit

admin — Fri, 23 Oct 2009 00:56:37 +0000

There are some steps you can take to help repair your credit and gain a better chance at receiving these rates. Here are tips on how to do this.

One of the first things you need to do is to set out a plan to rebuild your credit, as well as how you will use your borrowing abilities in the future. Without a good plan of attack on your financing and borrowing usage, you will run the risk of being in financial trouble again within a few years or so. Don’t become a repeat statistic. Plan now, for protection later.

Getting your credit report and reviewing it for errors can help repair your score. After doing this, you can notify the appropriate credit reporting agency if there are any mistakes, thus gaining a better score.

One of the most important things you can do to improve your credit score is pay your bills by the due date. You can set up automatic payments from your bank account to help you pay on time, but be sure you have enough money in your account to avoid overdraft fees.

Do not cancel accounts. Many people make the mistake of canceling credit cards thinking it will make their score go up. Closing the accounts makes your credit history appear shorter or “younger” than it actually is.

Pay off some of your current debt balances if possible. Even when monthly payments are received on time, greater amounts of existing debt have a detrimental effect upon your credit score. This includes any money you might owe on car loans, credit cards, or student loans. Prioritize getting rid of debt with high interest rates first.

If there is significantly negative data on your credit report, it may be best to wait until later before applying for a mortgage. The score will slowly repair itself, and getting better rates on a mortgage or other loan will eventually become possible.

You can try credit counseling. If you get stuck under your debt it can be very hard to get out from under. If you have tried and failed, credit counseling is another avenue to pursue. A credit counselor is usually a not-for-profit corporation that can dispense guidance and advice on how to proceed. If you do try credit counseling you will most likely find someone that can help make a realistic budget and help you get afloat.

By doing the above-mentioned things, adding good credit and making better money decisions, you will ultimately realize your goal of good credit. While it takes some time to build or rebuild good credit, it takes very little time to destroy it.. With a good budget and good spending habits you can be successful in getting a good credit rating and the credit you deserve.

By: Tian Tila