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Credit Cards Debt Consolidation
Consolidating credit card debt is never easy. Too often people run up their debts without even realizing it until it is too late. If you are one of these people, don't feel bad or trapped, or that there is something wrong with you. Credit cards are...
Get a credit card with a low interest rate
Before you choose a credit card it would be wise to first find
out the interest rates offered by all the credit card companies
and banks. While you compare credit card companies and banks,
take note of the ones with low interest rates and offer...
How To Repair Your Credit Report
A credit report is run on a buyer when he or she needs to buy something that will take a long-term loan, such as an automobile or a house. The credit report can come from one of three agencies – Equifax, Experian, and Trans Union. Each of these...
Poor Credit Mortgage Reigns High Among Mortgages Available to Bad Credit Borrowers
Like a big brother keeping notes of the erring behaviour of his younger sibling, credit reference agencies like Experian and Equifax maintain a record of each person entering into credit transaction. While a few instances of arrears are considered...
Want A Credit Card Merchant Account?
Who doesn't want a credit card merchant account! This special
service allows you to process credit card payments from your
clients in a number of ways that can help to speedily grow your
business. A merchant account has been known to double or...
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Do it yourself Credit Repair
Many of us believe that it is only through an agency that we
could possibly have any hope for repairing our own credit. Rest
assured that this is not true. It could possibly cost you more
money and time to arrange through an agency than it would to
just do it yourself. My recommendation, before contacting an
agency for assistance is to follow the steps below as you may
just be surprised at the results.
Repairing your own credit takes time, and definitely takes
patience. You first need to contact the credit reporting
agencies in writing requesting your credit report. You are
entitled by Federal Law to a free credit report every year.
There are three main credit-reporting agencies that you will
need to contact. The bureaus information can be located by
running a search on the internet for "Credit Reporting Agencies"
or looking through you local phone book. Include the following
in your written correspondence with the credit agency.
1. Written request for a copy of your credit report (You are
entitled to one free credit report a year). 2. Include a copy of
your state ID. 3. Send proof of your current address if it is
not current on your ID. 4. List your last known addresses for
the past 5 years. 5. Include a copy of your social security
card. 6. Sign the document
Allow at least 4-6 weeks to receive your credit report(s). If
you have already received an annual credit report from an agency
and are not entitled to the free yearly report, you may also use
any denial letter of credit within 60 days of its receipt. If
you receive a letter denying you credit, make a copy and enclose
it with your written request for a copy of your credit report.
Once you receive your reports from all of the agencies, review
each report for accuracy and differences. Design a spreadsheet
or written log to track the differences. Do not hesitate to make
use of disputes or accounts that are invalid. If you find
anything on your report that is worth disputing, most agencies
allow you to file an official dispute via their website. Your
credit reports should include contact and account information
for each
creditor. Organize all of your debt and creditors. Most
debts older than 7 years old will or may not appear on your
report, if this is the case, leave them alone, do not dig around
for them. Most creditors after 7 years of not having any contact
with you will write off the debt, some may continue their
pursuit to locate you, either way, don't open the Pandora's box
if the account isn't listed on your credit report.
Take it upon yourself to contact each creditor to make payment
arrangements, most are willing to work with you, some may make
your task very difficult. If a creditor is being difficult, feel
free to ask for his or her supervisor or speak with someone
else. Expect some creditors to be rude and unwilling to work
with you, do not feel discouraged, and just ask to speak with
someone else. Offer a settlement amount. Write down details of
the conversation as well as the person's contact information
every time you speak with a creditor.
It may take up to 6 months to feel like you are making any
progress at all on your credit with your payment arrangements
but rest assured that your credit will fall into place within a
year.
It is very important that while you are paying your creditors,
when you mail in your payment, that you pay by check or money
order and keep all of your receipts. Always include a SASE
(self-addresses stamped envelope) with your payment and request
a receipt for the payment from the creditor.
Obtain copies of your credit reports on a yearly basis from each
agency. Do not obligate yourself to any other creditors while
paying off your current ones. You will or may receive several
credit offers, throw them away. Stay focused on your goal to get
out of debt and keep track of all your activity such as
payments, contact with the creditors, their names, extension,
time and date you spoke with them and list any details of your
conversations and arrangements.
About the author:
Tony Robinson is a business owner with vast experience in all
facets of Credit and Credit Repair - for further tips and
techniques visit http://www.officialdebtfree.com
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| Credit Reports - Credit Cards - Car Loans - Home Loans - Credit.com |
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| The FTC's web site on Credit |
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| AnnualCreditReport |
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| Springboard - Non-Profit Consumer Credit Management |
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| National Credit Union Administration - Home Page |
| An independent federal agency that supervises and insures 7152 federal credit unions and insures 4240 state-chartered credit unions. |
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| Credit - Wikipedia, the free encyclopedia |
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| The National Foundation for Credit Counseling |
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| FreeCreditReport.com | Free Credit Report and Credit Score Online ... |
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| The Credit Card Prank |
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| Credit magazine, corporate bonds, derivatives, structured credit ... |
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| CUNA: The Credit Union National Association |
| News and resource directory about credit unions. |
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| Credit/Debt Management - Tools and Advice for Managing Credit and Debt |
| Drowning in debt? Trying to improve your credit score? This is the place for you. Get real world information and tips, as well as the legal low down, ... |
| credit.about.com |
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