The credit repair industry has stepped up in full force in part because of the down turn in the economy. It is a HUGE industry now with thousands of new companies sprouting up left and right. Before you call one of the late night TV ads, or any of the hundreds of offers for credit repair systems out there. Step back for one second and ask yourself one fundamental question…

” What do you need credit repair for?”

The most common reasons are:

- Buying a house
- Renting a house
- Buying a car
- Applying for a credit car or loan

In all of these major purchase scenarios, there is a minimum credit score that one needs to either “get the loan” or “get the loan with the best rate”. Knowing that minimum score requirement is the most important piece of information to determine whether doing repairing your credit makes sense or not.

(more…)

2010 is finally here as anticipated. Though the harsh economic situation has eased up a bit, however, carelessness on our part regarding how we conduct our financial lifestyles can spell doom. A common trouble that we all try to avoid regarding finances is the debt issue. Nobody wants that, and it is unquestionable that everybody wants to have financial freedom and independence. How do you achieve that?

First, this might be a good time to get the once a year free copy of your credit report which you are entitled to. This free copy contains your Equifax, Experian, and Transunion files. What you will be doing is to review all three files with the intention to fish out any negative information that managed to attach itself on your file even into the New Year. Now, there’s nothing you can do about the carry over into the New Year, but there are strategies you can apply to remove any negative account on your file if you must enjoy 2010 with strong credit.

(more…)

Credit repair and increasing credit score has become such a commodity nowadays that everyone knows the basics. It is important that you know something extra which will put you ahead of the rest. Remember Credit Score is a percentile and so you compete with others who are equally keen on improving their credit score in the shortest time possible.

Below mentioned are three insider secrets that you need to know for making your credit score improvement tactics effective.

1. Do not dispute Online

If you are disputing online, your information is most likely to go to databases and networks where automated query will be used to search through your disputes and even verified automatically. So the key is to get your disputes in the hands of the person that is where you would get maximum result. As the person has to go through it and nothing can be automated.

(more…)

Attempting To Clear up Your Credit Quickly?

If you are looking for fast credit repair secrets you may have been thinking about employing a credit repair lawyer or firm to do the job for you. Well you may want to re examine your strategy. The article below will explain why you should avoid using a paid service and why doing the repair work on your own is going to give you the fast credit repair results you have been looking for and also save you alot of money.

Why Are For Profit Credit Improving Firms Bad For You?

Almost all credit fixing companies will ask you for money to set up your account, this is before they do any work for you. Then when they start your service they will charge you a monthly fee that in itself is quite costly, the industry average is $75. This monthly charge gives the company a lot of motivation to slow the process up a bit so they can make more money.

But Wait There Is More!

In addition most of these services will ask you to order your own credit report, on top of this you will need to tell them what items you want disputed. They will also have the credit bureaus send the dispute result letters to your residence. Then you will have to bring the letters to them, all this takes extra time that anyone who needs fast credit repair does not have and probably does not want to deal with!

(more…)

Collectors and Credit Repair

You may encounter a reasonable, mild mannered collector someday, but do not hold your breath. Collectors are trained to be emotionally effective. This means aggressive. They will keep you on the phone as long as they can in an attempt to bend your will to theirs. Their goal is to get money out of you, whatever it takes. Unfortunately, in their effort to dominate, they often step over the line of legality, and hence arises the need for credit repair techniques to neutralize their wayward conduct.

Stand Up For Your Rights

Do you have collection trouble? Here comes the Fair Debt Collection Practices Act (FDCPA) to the rescue. The FDCPA defines the behavior that collectors are allowed to engage in. The need for the law is self-evident, but you will not be surprised to hear that FDCPA rules are often bent, twisted, and even downright ignored. If you have been accosted by an aggressive collector you should take an hour, read the FDCPA, and arm yourself with the credit repair strategies you need to stand up for your rights! Here are some highlights to get you started.

(more…)

Copyright (c) 2009 Liz Roberts

The most preferred way to solve debt problem now is through consolidating debts with loan. It is the easiest way. By loaning a sufficient amount, all debt can be paid at once. And debt will stop from piling up. The borrowers will be set from pressure and embarrassment.

However, the process of debt consolidation isn’t as simple as it may seem. True, debts can be settled at the soonest time and the borrower can regain peace of mind. But let’s not forget the possible consequences involved with debt consolidation. Your are putting yourself to a worse situation if you are not ready to pay your debt consolidation obligations. So before applying for a debt consolidation loan, weigh your options first and consider the pros and cons.

Paying Off Debts with A New Debt

A debt consolidation loan is a new debt and one that is often secured by submitting your home property. This means your lender can repossess your property at any time should fail to keep up with your loan payments. For many lenders, three consecutive months of not submitting payments is already ground for repossession. Surely, nobody wants to lose a property to a lender especially in the middle of a financial crisis.

(more…)

Identity Theft Concerns

There are a number of reasons you might have a concern about the illicit use of your identity. A lost wallet, unexplained accounts on your credit report, mysterious transactions on a credit card; these can all give rise to very reasonable worries about fraudulent activity. These events may be of little consequence, or they may be quite serious. Either way, there are a variety of credit repair solutions that you should implement immediately. Credit repair solutions include investigative, preventative, and curative, and all three should be employed.

Investigate the Issue

If you discover activity on your credit report that is not yours it may be the result of a file merger error. This means that someone else’s credit data has been merged with yours. As awful as this may sound, it is pretty innocent and has an easy credit repair cure. So, before you jump to conclusions about identity theft take a few minutes to investigate. Get copies of all three credit reports, circle the unknown accounts, call the creditors, and ask them if they have an account in your name. If they tell you that they have no record of the suspect account you are a victim of a file merger error. This is easily cured with a bit of credit repair. Just write to the credit bureaus telling them that someone else’s credit is showing on your report, and ask them to correct the error. Be sure to provide your identification. File merger errors are surprisingly common and the credit bureaus will most likely resolve the problem for you right away.

(more…)

Plan Your Credit Repair Effort

Are you planning to make an effort at credit repair? Make sure to do it right. An informed effort will produce amazing results, and subtle details can make a world of difference. Take a bit of time to plan your attack and you will prevail. Here are my five favorite credit repair tactics proven to produce solid and significant results.

1. Don’t Wait to Rebuild Your Credit

If a stretch of hard times have left you with no open accounts it is tempting to postpone rebuilding credit until your credit repair project has borne fruit. You may think that if you wait until your credit is clean you are less likely to get denied. Unfortunately, the logic is flawed. Your credit scores will not recover if you don’t have active accounts. And new credit takes time to yield positive credit score results. If you put off opening new accounts you will be disappointed with your credit repair project. Now is the time to start rebuilding. Open two secured credit cards. Do it today. Once you receive them, use them, and keep them active. But be careful to manage the balances properly.

(more…)

Good credit is sexy. Plain and simple.

And one should work to maintain good credit always. If you have experienced a recent denial of credit, are appalled by bank balances, credit card balances, are having cash flow issues, then it is time for a thorough investigation of your personal financial situation. You need credit repair.

Your current credit situation can be remedied. So put aside any fear of seeing your financial history there on paper in black and white and be proactive and arrange to secure your credit report(s). There is no magic cure, but credit repair can be done.

Our ability to get a mortgage, car loan, personal loan, credit cards is dependent on a good credit rating. We also need to know that there are other issues at stake for us if our credit risk is poor. Your level of debt and credit card payments has the most effect on your credit score. There are some areas affected by a poor credit rating that you might not know about. You need to increase your awareness of these areas which add more reason for you to repair your credit.

(more…)

Credit Repair Knowledge is Power

Before reporting to the credit bureaus a collector must furnish a collection notice. This may be a straightforward collection letter, or may take the form of an offer to settle. Either way, the receipt of a collection notice is the beginning of your collection adventure. As with any credit repair issue you should take a few minutes to understand your legal rights. Collectors are governed by the Fair Debt Collection Practices Act (FDCPA). Understand your rights and you will be able to control the situation and maybe even come out ahead. When it comes to credit repair, knowledge really is power.

A Collection Letter is an Opportunity

If you receive a collection letter please don’t ignore it. You have a very special legal credit repair opportunity under the Section 809 of the FDCPA. For thirty days from the time you receive the letter you have the right to demand that the collector provide you with proof that they have the legal right to collect, as well as an objective accounting of the amount they claim you owe. This credit repair process is called debt validation. Once you have initiated your debt validation request the collector must cease all collection actions and not report to the credit bureaus. If the collector cannot provide the documentation required these prohibitions become permanent; the collector and the questionable account must vanish from your life and your credit report forever.

(more…)