Welcome to The Bad Credit Blog
(for Good people with Bad Credit to repair)
GOT BAD CREDIT? NEED TO CLEAN BAD CREDIT FAST TO GET
THE LOAN, CREDIT CARD, MORTGAGE, REFINANCE, CAR, JOB, OR APARTMENT THAT YOU
WANT? HERE'S A COLLECTION OF FREE CREDIT REPAIR SECRETS THAT MAY
HELP!
A better credit report will raise your credit score.
A higher credit score will get you a lower interest rate.
The lower your interest rate – the more money you will save.
You can repair your Credit quickly. You can have
negative misinformation wiped away from your reports, you can negotiate
with creditors to remove negative postings and lower your payments, and
you can raise your credit score higher so you can get the loan that you
want at the low interest rated you deserve. All it takes is
perseverance, a positive attitude and knowledge. You’re reading these
tips and that’s good positive start.
Just remember: If every single day you do at least one (1) thing
to better your credit, you will generate momentum to bring you closer to
your goal.
I hope you enjoy this booklet and find it useful! Good luck
to you on your journey to better credit.
Credit Repair Companies are very expensive. They can charge
anywhere from a few hundred dollars to thousands. You do
not need to pay a credit repair company a lot of money to repair your
credit. Anything they can do for you, you can do for yourself
for free or little cost.
You do not need a Software Program to repair your credit.
However, there is an awful lot of letter writing and record keeping
involved, and an inexpensive program to help automate the process and
point you in the right directions can literally save you hundreds of
hours and aggravation and can keep you organized, so you never again
find yourself in a credit nightmare.
A credit report is the equivalent of a
consumer's financial report card. It details your credit history
as it has been reported to the credit reporting agency by the lenders
who’ve given you credit. Your credit report lists the types of
credit you use, the amount of time your accounts have been open,
and if you pay your bills on time.
Your credit report is used by many different companies to make
decisions about you. Credit card companies, Banks, mortgage
companies, auto loan and insurance companies, also landlords and
employers check credit reports to check on your credit history. Why? They
know that if you were responsible in the past, you are likely be
responsible in the future (and vice versa).
“Credit scoring” of is a system creditors
use to help determine whether to give you credit, and how much to
charge you for it. When you apply for credit, the creditor or lender
will often request your report (or credit score) from one of the
big three bureaus (Equifax, Experian and Trans-Union).
In some instances, however (such as when applying for a Mortgage),
the broker or lender will pull reports from all three. These
Bureaus grade your “credit worthiness” by calculating your credit
history against a system called the Fair Isaac Model. Fair
Isaac uses a variety of factors to determine your score, such as;
your bill-paying history, the number and type of accounts you
have, late payments, collection actions, outstanding debt,
and the age of your accounts.
The final outcome of those calculations is referred to as your
FICO® score. FICO® scores range from 300 to 850, but the
majority of scores fall between the 600s and 700s. Higher scores indicate
a lower credit risk. A FICO® score above 700
will get you a very good mortgage rate. A score above 720
will get you an excellent rate. A score below 700 will make it very
difficult for you, and definitely should be worked on.
Correcting mistakes on a credit report in order to repair an
undesirable credit score takes time. It's your responsibility to
correct mistakes that may appear in your credit report. To do
this, you must regularly obtain copies of your credit reports, and
contact each of the big three credit reporting bureaus to correct
any misinformation.
The three nationwide consumer reporting companies Equifax, Experian and
Trans-union are the three major bureaus that maintain credit reports on
you. To order your reports, you simply write or call them at the
numbers below.
You are also eligible for Free Credit Reports once a
year.
Requests for free Annual Reports are not made to the bureaus themselves,
they are made to their Combined Service. You can order your free reports
online instantly thru creditdoctorsoftware.com or
complete an Annual Credit Report Request Form and mail it to: Annual
Credit Report Request Service, P.O. Box 105281, Atlanta, GA
30348-5281. With the new laws, you are now entitled to one free
copy from each of the nationwide consumer reporting companies every 12
months.
You need to provide your name, address, Social Security number, and date
of birth. If you have moved in the last two years, you may have to
provide your previous address. To maintain the security of your file,
each nationwide consumer reporting company may ask you for some
information that only you would know, like the amount of your monthly
mortgage payment. Each company may ask you for different information
because the information each has in your file may come from different
sources.
There are also other circumstances which will allow you to receive free
credit history reports. Under federal law, you're entitled to a
free report if a company takes adverse action against you, such as
denying your application for credit, insurance, or employment, and you
ask for your report within 60 days of receiving notice of the action.
The notice will give you the name, address, and phone number of the
consumer reporting company. You're also entitled to one free report per
year if you're unemployed and plan to look for a job within 60 days; if
you're on welfare; or if your report is inaccurate because of fraud or
identity theft. Otherwise, any of the three consumer reporting companies
may charge you up to $10.00 for another copy of your report within a
12-month period.
To buy copies of your credit history report, contact:
Equifax
800-685-1111
Experian
888-EXPERIAN (397-3742)
Trans Union
800-916-8800
Under state law, consumers in Colorado, Georgia, Maine, Maryland,
Massachusetts, New Jersey, and Vermont already have free access to
their credit reports.
Recent studies by a Public Interest Research Group found that over
70% of credit reports contain errors. Incorrect information in
your credit file lowers your credit score. As the result you get a
higher interest rate when you: take a loan, open a new credit card
account, lease a car, etc. 29% of the credit reports in this
study contained even more serious errors that could result in the
denial of credit. These errors included false delinquencies,
public records, judgments and credit accounts that did not belong to
the consumer. Sometimes these errors are the
work of sloppy data entry, but it is also often due to the ever growing
epidemic of identity theft.
Since your Credit Reports are used to determine IF you are to be
given credit (and what rates you will be charged), it is in your
best interest to examine your reports carefully, correct
inaccurate information and make every effort to remove ALL
Unfavorable information. If you see problems on
your report, such as an unpaid bill that you simply forgot about,
act right away to resolve the debt. Then ask that creditor to send
a letter to the credit reporting agencies stating that the matter
has been resolved.
Check for accounts you didn’t open, charges you haven’t made, and
delinquencies you didn’t cause. If you suspect fraud on one of
your reports, contact that credit bureau IMMEDIATELY. Explain the
situation and ask them to place a fraud alert on your file. Also
report the fraud to the police.
Your credit reports follow you throughout your life and can help
you greatly -- or hurt you. Review them carefully!
The bulk of the report will be filled with credit information
showing the following:
1). Identification Information The first thing listed will
be your name, date of birth and Social Security number. These are
used for identification. Employment information may also be listed. As
well as current and past addresses, spouse's name (if you're
married) and date of birth are also listed for further
identification.
2). Public Record Information -- Data from federal, state or
county court records. Bankruptcies, liens or judgments and other
types of claims. Info listed will be; Date filed, court case
number, amount, status and date settled.
3). Collection Agency Information -- A
collection is an account that has been turned over to a collection
agency by one of your creditors because you have not paid the
account as agreed. Listed here are; Collector’s
name, originating creditor/client, original amount, balance due and
account number.
4). Credit Information -- This section makes up the bulk of
the report. It will include Mortgage, Installment,
Revolving, Other, Open and Closed Accounts. It will also
list Accounts in Good Standing, Accounts Currently Past due and
Negative Account History. Merchant/Creditor name, Subscriber
Number, account number, Date opened, Date closed, Current Balance,
Highest credit limit, Highest amount of credit used, and your
Repayment History. Your Repayment History is
shown as a string of numbers showing your payment history.
With each credit account, you will see listed the account’s status
and history. They are generally marked as follows;
• Current Account -
"Account Open" or "Closed in Good Standing"
• Closed Account -
Credit Account Closed
• Paid Account -
Closed Account or Zero Balance
• Credit Account
Reinstated - Previously Closed Account Now Available for use
• Foreclosure -
Collateral sold to collect Defaulted Mortgage
• Collection Account
- Credit Account Assigned to Collection Agency
• Inquiry - your
credit information was requested by this Company or Creditor
5). Inquiries that display
All authorized and legitimate requests to see your credit
history.
6). Inquiries that DO NOT display
These inquiries are displayed only to you and are not considered
when tabulating your credit score. Examples of this inquiry
type include a pre-approved offer of credit, insurance or periodic
account reviews by an existing creditor.
7). Consumer Statements
If for some reason you cannot prove that a negative item is an
error or if you are having a disagreement with a certain creditor,
you have the right to tell your side of the story in 100 words or
less. This statement will be ADDED to your report.
Credit Reports seem rather cryptic at first, but once you see how they are
laid out they will start to make sense. These are the important things to
examine:
Make sure your personal Information is correct
Make sure your accounts are listed correctly
Make sure your credit lines are listed correctly
Make sure your balances are listed correctly
If YOU closed an account, it should say “Account closed BY CONSUMER.”
Make certain that all information is current and accurate,
including the Personal Identification information (address, social
security, etc…). If you find an error (for example, a loan that
you have PAID OFF is still listed as outstanding), tell the Credit
Bureau (in writing) EXACTLY what the mistake is, and explain the way that
the information SHOULD be listed. For example, "My Loan to Bank of
Fred is NOT outstanding. It was paid in full on
02/14//05." Send photocopies along with all the necessary
information to backup your
claim.
After you have done this send it to the credit bureau by
"CERTIFIED MAIL." When the credit bureau receives your report and
the information in question, they are required to investigate and
ADVISE YOU of the results of their investigation. They must do
this Free of charge.
Anytime that you are denied credit you have the right to know
why. If you are turned down for a credit account at a store,
you will receive a statement from the store stating that you were
denied credit and their reason why. If the store based their
decision on your credit history, they must provide you with the
name and address of the agency that reported it.
If for some reason you cannot prove that a negative item is an
error or if you are having a disagreement with a certain creditor,
you have the right to tell your side of the story in 100 words or
less. This statement will be ADDED to your report.
When correcting items on your credit report, you have the right to
demand that the credit bureau send corrected copies of your report
to all creditors who have received the incorrect reports for the
past six months. Note: Credit bureaus will not do this
automatically! They will only do it if you ask. So make sure
you ask. It’s your right!
Here is a sample letter with sample dispute items. Use the
ones you need and delete the rest.
Your Name
Your Address
City, State Zip
Your Date of Birth:
Social Security Number:
Credit Report Number: ____________
Credit Bureau Name
Credit Bureau Address
City, State Zip
Today's Date
Re: Letter to Remove Inaccurate Credit Information – Credit Report
#__________________
To Whom It May Concern:
I received a copy of my credit report and found the following item(s) to
be errors. See the attached copy of my credit report, the errors have
been highlighted.
Here as follows are items in error:
Incorrect Personal Information:
XXXXXXXXXXXXXXXX
Correct Personal Information:
XXXXXXXXXXXXX
The following accounts below are not mine:
Creditor's Name
Account Number Explanation:
The account status is incorrect for the following accounts:
Creditor's Name
Account Number
Correct Status:
The following information is outdated. I would like it
removed from my credit history report:
Creditor's Name
Account Number Date of Last Activity
The following inquiries are more than two years old and I would like
them removed:
Creditor's Name Date of Inquiry
These inquiries below were not authorized:
Creditor's Name Date of Inquiry
Explanation
The following accounts were closed by me and should state that:
Creditor's Name Account Number
Other information I would like changed:
Explanation
By the provisions of the Fair Credit Reporting Act, I demand that these
items be investigated and removed from my report.
It is my understanding that you will recheck these items with the creditor who
has posted them. Please remove any information that the
creditor cannot verify.
I understand that under 15 U.S.C. Sec. 1681i(a), you must complete this
reinvestigation within 30 days of receipt of this letter.
Please send an updated copy of my credit report to the above address.
According to the act, there shall be no charge for this updated
report. I also request that you please send notices of corrections to
anyone who received my credit report in the past six months.
Thank you time and help in this matter.
Sincerely,
_____________________________________
[Signature]
Make sure you send this letter by certified mail. Enclose a
copy of the credit report containing the items you are
disputing. It may also help to circle the items. Also include
copies (not originals) of any paperwork you may have that
validates your claims.
Despite popular belief, it is often possible to negotiate removal
of negative items on your credit reports posted by
creditors. In some cases, you might not even have to pay
them the full amount owed*. The important thing is to be positive, be
patient and get in contact with them to try to work out a deal.
If you've ignored (or never received) a creditor's bills or phone calls,
or if you failed to keep up with payments, your bill may be turned
over to a collection agency. Keep in mind that collection agencies
are hired by the creditor and their only goal is to collect the
money owed (or as much of it as they can) as quickly as
possible. For their efforts, they are paid a percentage of what
they collect.
If you feel that the amount in question is being billed in error, you have the
right to ask for proof and verification of the charges. If
the charges are indeed yours it may be in your best interest to negotiate
with the collection agency. You may be able to negotiate
payment of the total sum (or even a partial amount) in return for their
removing their negative marks on your Credit History Report. You might
be able to settle on paying a portion of your debt, or you might be able
to work out a payment installment plan with them. Many of the
Creditor letters in the STOREROOM can be used with collection
agencies for these situations. Whatever deal you make with them, be
sure that you have it all in writing prior to paying them.
Collection agencies can be very aggressive when it comes to collecting
money. Remember that you have rights. You have the right to ask a
collection agency stop contacting you, especially if you feel harassed.
Use these letters below to give yourself breathing room while working
through your plan to reorganize your finances.
Go through your credit reports very carefully. Especially look
for; Late payments, charge-offs, collections or other negative items
that aren't yours, Accounts listed as "settled," "paid derogatory,"
"paid charge-off" or anything other than "current" or "paid as
agreed" if you paid on time and in full, Accounts that are still listed
as unpaid that were included in a bankruptcy, Negative items
older than seven years (10 in the case of bankruptcy) that
should have automatically fallen off your report (you must be
careful with this last one, because sometimes scores actually go
down when bad items fall off your report. It's a quirk in the
FICO credit-scoring software, and the potential effect of
eliminating old negative items is difficult to predict in
advance). Also make sure you don’t have duplicate
collection notices listed. For example; if you have an account that
has gone to collections, the original creditor may list the
debt, as well as the collection agency. Any duplicates
must be removed!
Make sure that your proper credit lines are posted on
your Credit Reports.
Often, in an effort to make you less desirable to their competitors,
some creditors will not post your proper credit line.
Showing less available credit can negatively impact your credit
score. If you see this happening on your credit report,
you have a right to complain and bring this to their
attention. If you have bankruptcies that should be showing
a zero balance…make sure they show a zero balance! Very often the
creditor will not report a “bankruptcy charge-off” as a zero balance
until it’s been disputed.
If you have any negative marks on your credit report,
negotiate with the creditor/lender to remove it.
If you are a long time customer and it’s something
simple like a one-time late payment, a creditor will often wipe it away to
keep you as a loyal customer. If you have a
serious negative mark (such as a long overdue bill that has gone
to collections), always negotiate a payment in exchange for
removal of the negative item. Always make sure you have
this agreement with them in writing. Do not
pay off a bill that has gone to collections unless the creditor agrees
in writing that they will remove the derogatory item from your
credit report. This is important; when speaking with the
creditor or collection agency about a debt that has gone to collections, do
not admit that the debt is yours. Admission of
debt can restart the statute of limitations, and may enable the creditor
to sue you. You are also less likely to be
able to negotiate a letter of deletion if you admit that this debt
is yours. Simply say “I’m calling about
account number ________” instead of “I’m calling about my past due
debt.”
Pay all credit cards and any revolving credit down to
below 30% of the available credit line.
The scoring system wants to make sure you aren’t overextended,
but at the same time, they want to see that you do indeed use
your credit. 30% of the available credit line seems to be the
magic “balance vs. credit line” ratio to have.
For example; if you have a Credit Card with a $10,000 credit line,
make sure that never more than $3000 (even if you pay your
account off in full each month). If your balances are
higher than 30% of the available credit line, pay them
down. Here is another thing you can try; ask your
long time creditors if they will raise your Credit Line without checking
your FICO score or your Credit Report. Tell them that
you’re shopping for a house and you can’t afford to have any
hits on your credit report. Many will not but some will.
Do not close your old credit card
accounts.
Old established accounts show your history, and tell about your
stability and paying habits. If you have old credit
card accounts that you want to stop using, just cut up the cards
or keep them in a drawer, but keep the accounts open.
Avoid applying for new credit.
Each time you apply for new credit, your credit report gets
checked. New credit cards will not help your credit score and a
credit account less than one year old may hurt your credit
score. Use your cards and credit as little as possible
until the next credit scoring.
Have at least three revolving credit lines and one
active (or paid) installment loan listed on your Credit Report.
The scoring system wants to see that you maintain a
variety of credit accounts. It also wants to see that you
have 3 revolving credit lines. If you do not have three active credit
cards, you might want to open some (but keep in mind that if you
do, you will need to wait some time before rescoring). If
you have poor credit and are not approved for a typical credit
card, you might want to set up a “secured credit card”
account. This means that you will have to make a deposit
that is equal or more than your limit, which guarantees the bank
that you will repay the loan. It’s an excellent way to
establish credit. Examples of an installment
loan would be a car loan, or it could be for furniture or a
major appliance. In addition to the above, having a
mortgage listed will bring your score even higher.
Throughout this process, always remember:
It takes up to 30 Days for any of these things to
get reported and often longer to reflect on your Credit History
Reports. It feels like a slow process, but hang in there,
because it DOES work. This tedious process can be made much
simpler with the automated help of Credit Doctor™ Software www.creditdoctorsoftware.com.
stores your user information to merge into its database of letters,
saving you many long hours of letter writing.
The Federal Fair Credit Reporting Act (FCRA) promotes the accuracy,
fairness, and privacy of information in the files of consumer reporting
agencies. There are many types of consumer reporting agencies, including
credit bureaus and specialty agencies (such as agencies that sell
information about check writing histories, medical records, and rental
history records). Here is a summary of your major rights under the FCRA.
For more information, including information about additional rights, go
to www.ftc.gov or
write to: Consumer Response Center, Room 130-A, Federal
Trade Commission, 600 Pennsylvania Ave. N.W.,
Washington, D.C. 20580.
• You must be told if information
in your file has been used against you. Anyone who uses a credit report or
another type of consumer report to deny your application for credit,
insurance, or employment - or to take another adverse action against you -
must tell you, and must give you the name, address, and phone number of
the agency that provided the information.
• You have the right to know what is in your file. You may request and
obtain all the information about you in the files of a consumer
reporting agency (your "file disclosure"). You will be required to
provide proper identification, which may include your Social Security
number. In many cases, the disclosure will be free.
You are entitled to a free file disclosure if:
a person has taken adverse action against you because of information
in your credit report
you are the victim of identify theft and place a fraud alert in your
file
your file contains inaccurate information as a result of fraud
you are on public assistance
you are unemployed but expect to apply for employment within 60 days.
You have the right to ask for a credit score. Credit scores are
numerical summaries of your credit-worthiness based on information from
credit bureaus. You may request a credit score from consumer reporting
agencies that create scores or distribute scores used in residential
real property loans, but you will have to pay for it. In some mortgage
transactions, you will receive credit score information for free from
the mortgage lender.
You have the right to dispute incomplete or inaccurate information. If
you identify information in your file that is incomplete or inaccurate,
and report it to the consumer reporting agency, the agency must
investigate unless your dispute is frivolous. See www.ftc.gov for an
explanation of dispute procedures.
Consumer reporting agencies must correct or delete inaccurate,
incomplete, or unverifiable information. Inaccurate, incomplete or
unverifiable information must be removed or corrected, usually within 30
days. However, a consumer reporting agency may continue to report
information it has verified as accurate.
Consumer reporting agencies may not report outdated negative
information. In most cases, a consumer reporting agency may not report
negative information that is more than seven years old, or bankruptcies
that are more than 10 years old.
Access to your file is limited. A consumer reporting agency may provide
information about you only to people with a valid need -- usually to
consider an application with a creditor, insurer, employer, landlord, or
other business. The FCRA specifies those with a valid need for access.
You must give your consent
for reports to be provided to employers. A consumer reporting agency may
not give out information about you to your employer, or a potential
employer, without your written consent given to the employer. Written
consent generally is not required in the trucking industry. For more
information, go to www.ftc.gov.
You may limit "prescreened" offers of credit and insurance you get based
on information in your credit report. Unsolicited "prescreened" offers
for credit and insurance must include a toll-free phone number you can
call if you choose to remove your name and address from the lists these
offers are based on. You may opt-out with the nationwide credit bureaus
at 1-888-5-OPTOUT (1-888-567-8688).
You may seek damages from violators. If a consumer reporting agency, or,
in some cases, a user of consumer reports or a furnisher of information
to a consumer reporting agency violates the FCRA, you may be able to sue
in state or federal court.
Identity theft victims and active duty military personnel have
additional rights. For more information, visit www.ftc.gov
It's Credit Doctor, of course! Credit Doctor™ automates
the process of cleaning up your credit. Ease of use and powerful features make
it the best credit repair software available. (learn
more)
Automate the process of cleaning your Credit. Easy Wizards guide you to:
Get Free Credit Reports Instantly online, Generate Letters, Remove
Errors and Negotiate with Creditors. Includes Organization and
Planning Tools, Financial Calculators and useful Tips.
*Credit Doctor Software™ is a "stand-alone" easy-to-use software program that
you install and run on your own computer. Your user data is safely
encrypted, remains stored only on your computer and is NOT transmitted over
the Internet. Your standard end-user license will allow up to five
users. If you are in need of a commercial version, contact us.
**Credit Doctor Software's™ intended use is to automate the processof
cleaning up errors in your credit history reports and negotiating with
creditors. Credit Doctor Software gives Credit Information, not
legal advice. For questions about specific issues regarding your credit,
please consult an attorney.
A better credit report will raise your credit score.
A higher credit score will get you a lower interest rate.
The lower your interest rate – the more money you will save.
You can repair your Credit quickly. You can have negative misinformation wiped away from your reports, you can negotiate with creditors to remove negative postings and lower your payments, and you can raise your credit score higher so you can get the loan that you want at the low interest rated you deserve. All it takes is perseverance, a positive attitude and knowledge. You’re reading this book, and that’s good positive start.
Just remember: If every single day you do at least one (1) thing to better your credit, you will generate momentum to bring you closer to your goal.
FACTS:
"Credit repair companies often claim that they can 'clean up' or 'erase' a bad credit. Before you pay for their services, which can range from hundreds to thousands of dollars, there are several points that you should consider. Under the Fair Credit Reporting Act, credit repair companies cannot do anything that you cannot do for yourself at little or no cost." — Federal Trade Comission www.ftc.gov
A study conducted by US Public Interest Research Group (US PIRG) showed the following shocking results: “79% of the credit reports surveyed contained either serious errors or other mistakes of some kind. These errors result in lost jobs, denied mortgage applications, and higher interest rates for those who do obtain credit.” — U.S. PIRG web site http://uspirg.org
Credit repair programs do work to fix bad credit. If the programmer and interface designer are fluent in the laws, a bad credit program can be quite effective. Bad credit report repair software is not a science, but it is a timesaver. You can repair bad credit and you can fix a bad credit report yourself without a credit program, but really bad credit will take many letters and tedious days and weeks, where as a program can automate the process considerably.You can have bad credit erased and you can do it legally and quickly.
For bad credit help and bad credit advice we recommend reading our free booklet "Boost your FICO score in 7 easy steps." Bad credit remove self esteem. Bad credit repair can improve your way of life greatly. A bad credit report simply means that you have a bit of work in disputing items to the Credit Bureaus Equifax, Experian and Transunion. A public interest group recently did a study that showed these staggering facts: 79% of all Credit Reports contain errors...and it's mostly errors that are the reason for a bad credit score.You do not have to fall victim to bad credit loans, bad credit refinance orbad credit mortgage. An improved report rating score will qualify you for loans and refinancing at much lower rates. Bad credit software will rapidly boost fico ratings and boost fico scores.
The Credit Doctor program and credit doctor software will help you with your credit repair, and use every legal means to erase bad credit quickly. Fast credit repair is the benefit of using our software to fix bad credit ratings and fix bad credit scores. You can certainly fix credit and fix credit reports and improve bad credit on your own, but it helps to have a vast knowledge of the law. Credit Repair software has the added benefit of being co-written and approved by lawyers. Our knowledge of the law and the Fair Credit Reporting Act whill help you to improve fico scores, and improve a low credit score and raise fico scores. With our program, you can easily remove bad credit, repair bad credit rating and fix bad credit report with the click of a mouse button.
On our blog we give hundred of free tips, help and advice to repair bad credit scores, and repair low credit scores effortlessly and easily, because our program is fully compatible with all three major bureaus: ,Equifax, Experian and trans-union (aka trans union). All itr takes is downloading your free Credit Reports from Annual Credit Report Service and you will have free credit reports. Once you have the free reports in your hands and have our $49 program, you will be able to do for yourself for close to nothing what you would have to pay hundreds or thousands of dollars to companies like lexington law.
Credit Doctor™ stores your user information, generates letters and automates the process of cleaning up your credit. State-of-the-art animations and wizards guide you through: Ordering Free Credit Reports, Removing Errors and Negotiating with Creditors. Includes Organization and Planning Tools, Financial Calculators and useful Tips. Ease of use and powerful features make it the best Credit Repair software available.
As they say on the Federal Trade Comission www.ftc.gov. A Credit Repair Company cannot do anything for you that you cannot do for yourself for free or little cost. The best Credit Repair Company...is yourself.
Credit-Aid Software is available at http://www.credit-aid.com/ and retails for $29.95. Credit-Aid is so certain that you will be happy with the results you achieve, that they offer a full refund if you are not satisfied.'
SEVEN STEPS TO BOOST YOUR FICO SCORE:
Correct all inaccuracies on your Credit Report.
Go through your credit reports very carefully. Especially look for; Late payments, charge-offs, collections or other negative items that aren't yours, Accounts listed as "settled," "paid derogatory," "paid charge-off" or anything other than "current" or "paid as agreed" if you paid on time and in full, Accounts that are still listed as unpaid that were included in a bankruptcy, Negative items older than seven years (10 in the case of bankruptcy) that should have automatically fallen off your report (you must be careful with this last one, because sometimes scores actually go down when bad items fall off your report. It's a quirk in the FICO credit-scoring software, and the potential effect of eliminating old negative items is difficult to predict in advance). Also make sure you don’t have duplicate collection notices listed. For example; if you have an account that has gone to collections, the original creditor may list the debt, as well as the collection agency. Any duplicates must be removed!
Make sure that your proper credit lines are posted on your Credit Reports.
Often, in an effort to make you less desirable to their competitors, some creditors will not post your proper credit line. Showing less available credit can negatively impact your credit score. If you see this happening on your credit report, you have a right to complain and bring this to their attention. If you have bankruptcies that should be showing a zero balance…make sure they show a zero balance! Very often the creditor will not report a “bankruptcy charge-off” as a zero balance until it’s been disputed.
If you have any negative marks on your credit report, negotiate with the creditor/lender to remove it.
If you are a long time customer and it’s something simple like a one-time late payment, a creditor will often wipe it away to keep you as a loyal customer. If you have a serious negative mark (such as a long overdue bill that has gone to collections), always negotiate a payment in exchange for removal of the negative item. Always make sure you have this agreement with them in writing. Do not pay off a bill that has gone to collections unless the creditor agrees in writing that they will remove the derogatory item from your credit report. This is important; when speaking with the creditor or collection agency about a debt that has gone to collections, do not admit that the debt is yours. Admission of debt can restart the statute of limitations, and may enable the creditor to sue you. You are also less likely to be able to negotiate a letter of deletion if you admit that this debt is yours. Simply say “I’m calling about account number ________” instead of “I’m calling about my past due debt.”
Pay all credit cards and any revolving credit down to below 30% of the available credit line.
The scoring system wants to make sure you aren’t overextended, but at the same time, they want to see that you do indeed use your credit. 30% of the available credit line seems to be the magic “balance vs. credit line” ratio to have. For example; if you have a Credit Card with a $10,000 credit line, make sure that never more than $3000 (even if you pay your account off in full each month). If your balances are higher than 30% of the available credit line, pay them down. Here is another thing you can try; ask your long time creditors if they will raise your Credit Line without checking your FICO score or your Credit Report. Tell them that you’re shopping for a house and you can’t afford to have any hits on your credit report. Many will not but some will.
Do not close your old credit card accounts.
Old established accounts show your history, and tell about your stability and paying habits. If you have old credit card accounts that you want to stop using, just cut up the cards or keep them in a drawer, but keep the accounts open.
Avoid applying for new credit.
Each time you apply for new credit, your credit report gets checked. New credit cards will not help your credit score and a credit account less than one year old may hurt your credit score. Use your cards and credit as little as possible until the next credit scoring.
Have at least three revolving credit lines and one active (or paid) installment loan listed on your Credit Report.
The scoring system wants to see that you maintain a variety of credit accounts. It also wants to see that you have 3 revolving credit lines. If you do not have three active credit cards, you might want to open some (but keep in mind that if you do, you will need to wait some time before rescoring). If you have poor credit and are not approved for a typical credit card, you might want to set up a “secured credit card” account. This means that you will have to make a deposit that is equal or more than your limit, which guarantees the bank that you will repay the loan. It’s an excellent way to establish credit. Examples of an installment loan would be a car loan, or it could be for furniture or a major appliance. In addition to the above, having a mortgage listed will bring your score even higher.
Throughout this process, always remember:
It takes up to 30 Days for any of these things to get reported and often longer to reflect on your Credit History Reports. It feels like a slow process, but hang in there, because it DOES work. This tedious process can be made much simpler with the automated help of Credit Doctor™ Software www.credit-aid.com. Credit-Aid™ stores your user information to merge into its database of letters, saving you many long hours of letter writing.
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How To Become a Debt Free Christian
from Sharon
If you are facing mounting debts and dream of becoming a debt free Christian, do not be disheartened as there are ways to do so. There are millions of individuals across the country who find themselves sinking deeper and deeper into debt. The situation has only got worse as debtors keep charging the individuals late fees, over limit fees, and higher interest rates. Remember that becoming debt free is not easy and takes a fair amount of time, but once you learn the lessons, you can remain debt free forever.
5 Steps to become debt free
You cannot become a debt free Christian overnight. It requires a lot of determination, patience and time to gain financial independence. The following 7 steps can help you to become debt free:
Set a financial goal – Setting a financial target is important as it tells you where you want to be. Make sure that you set a goal that you can achieve and that has long term benefits.
Determine your total debt – Ignoring your debt would not reduce your debt amount. So, determine your total debt amount before you can set a plan for yourself.
Set up a debt management plan for yourself – Once you have set your goals and determined your total debts, it is time to develop a personal debt management plan. It is your way to becoming debt free. So, make sure that you set up a budget that you can afford. Keep your financial goals in view while setting up a plan.
Negotiate with your creditors – Now that you have a debt management plan at hand, it is time to look for short cuts. So, look out for ways to reduce your debt amounts by negotiating with your creditors. Not all will agree, but its worth a try. Make sure that all the settlement amounts are agreed on paper and that you have the proper documents for future reference.
Moniter your plan – You must keep a close watch at your plan so that you are able to modify it as and when required.
Live debt free – This is most vital thing that you need to follow after you become completely debt free. Learn from your mistakes and manage your finances better in future to avoid getting into debt again.
If you follow the steps mentioned above, you'll be able to become a debt free Christian and return to a simpler lifestyle.