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Credit Card Debt Consolidation: Top 3 Factors To Consider
If you've got a number of credit cards and insurmountable credit card debt, then perhaps it's time to consider a debt consolidation loan. A consolidation loan is a loan that you can use to pay off all your debts, meaning that you can pay them off...
Credit Cards Without Late Fees? What You Don't Know Can Hurt You
Americans know all too well how much it costs to use credit cards. The average household in the U.S. now has nearly $10,000 in credit card debt. Carrying such debt is fine, as long as you realize that there are costs associated with it. The interest...
Credit Reports - Fixing Errors Can Be Difficult
Most Americans are aware that any time they try to borrow money, the lender consults with a credit report outlining the borrower's credit history. These reports are prepared by the major credit bureaus - Experian, Equifax and Trans Union, and the...
How to Make the Most of Your Credit Card Rewards
Many credit card companies are now offering their loyal cardholders credit card rewards. This provides the cardholder an opportunity to gain prizes just because they use their card. It is a great incentive for those that may not use their card much....
The Tales Of The 0% Apr Credit Card
People used to think that they had enough on their benefits with
their credit cards. They thought that the rewards they get and
the low interest they have is already enough to last a lifetime.
However, there are instances when they get to...
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The Right Way To Credit Repair
The Right Way To Credit Repair
by Dan Farrell
If you have a bad credit rating, then you might find that
your ability to get financing, loans, and even some jobs is
greatly diminished.
Once you have a bad credit rating, it might seem like
there's nothing that you can do about it… but you don't
have to believe that. It's not as difficult as you might
think to get by with a bad credit rating; with a little
work and time you can even repair it! Of course, before you
do that it's important to realize exactly what a credit
rating is.
Every time a lender or other creditor makes a report
concerning your payment history to them, this report
affects your credit score.
Your credit score is a numerical indication of the positive
and negative reports that you've received from creditors
and lenders; if the number is high then you have a good
credit rating, and if it's low then you have a bad credit
rating.
Basic credit repair
Get organized! Make a folder for all your correspondence
offline and online. You will have to do some snail mailing
but in most cases you can work your repair online.
In the U.S. a 630 rating will qualify you for a mortgage.
You can still get credit with a lower score but not at a
premium interest rate.
In fact, even a chapter 11 bankruptcy (erases all negative credit)
is not as bad as many think. I am not advocating filing for
bankruptcy (the laws have changed so you might have to
set up a re-payment schedule if your income allows) but for
those caught between a rock and hard place, unemployment,
medical crisis, divorce...many good reasons for finding yourself
unable to pay your bills, filing for bankruptcy is a god-send.
Many times, you will find creditors very eager to extend credit because
you don't have any debts! It is the irony of
the debt-income picture...
if you have a steady income, you will have no problem getting credit
cards, auto loans and even a mortgage.
So, don't despair, your situation is not as bad as you think! You will
find a way to less worry, more sleep and better relationships.
To begin correcting your credit, the important thing to do is obtain
your credit report and study it. Mark all the negative items.
Most unsecured credit, mostly credit cards, can stay on
your report for 7 years. If you find any over that, write
to the credit bureau and ask them to remove it. They are
required by law to research and report back within 30 days.
If they don't, you can threaten them with a letter to the
Better Business Bureau or Federal Trade Commission.
Find any other negative items and determine if they are
correct. If not, write the bureau and tell them its not
your debt.
Even if you aren't sure, ask the credit bureau*s to
investigate. Many times, they will not be able to verify
the debt because the credit card company, auto loan company
or other creditor won't get back them within 30 days
(required by Fair Credit Act).
For the contact information on credit bureaus as well as
samples of letters to send to them, go to:
http://www.repair-credit-right.com
You may freely reprint this article provided the following
author's biography (including the live URL link) remains
intact:
About the Author
Dan Farrell is the owner of Repair Your Credit...The Right Way and this article on credit repair and others on credit such as:
Credit Bureaus and Addresses
Credit Bureau Letters
Credit Errors And How You Can Correct Them
Credit Card Fraud
Leasing
Credit And Women's Rights
These articles and many others can be found by going to:
http://www.repair-credit-right.com
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| Credit Reports - Credit Cards - Car Loans - Home Loans - Credit.com |
| Credit.com offers a variety of credit related products and services including credit reports and credit scores, credit cards, car loans, home loan and ... |
| www.credit.com |
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| Equifax Personal Solutions: Credit Reports, Credit Scores ... |
| National consumer credit reporting company that offers credit reports, FICO(R) credit scores and identity theft protection products to consumers and small ... |
| www.equifax.com |
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| The FTC's web site on Credit |
| Credit is much more than a piece of plastic, and the resources on this site can help you become a more savvy consumer. You’ll also find compliance ... |
| www.ftc.gov |
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| Federal Trade Commission - Consumer Credit Center |
| Features an assortment of helpful articles related to credit issues. |
| www.ftc.gov |
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| AnnualCreditReport |
| Site set up by the big three credit reporting agencies in the United States, to furnish free annual credit reports, as required by federal law. |
| www.annualcreditreport.com |
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| Springboard - Non-Profit Consumer Credit Management |
| Our mission is simple: To offer education on the wise use of credit. ... SPRINGBOARD has been approved to provide credit counseling services and issue ... |
| www.credit.org |
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| myFICO - FICO Credit Scores, Online Credit Reports and Identity ... |
| myFICO.com: Get your Free credit report and Free credit score with a 30-day trial of Score Watch. All three FICO Scores and Credit Reports Available now ... |
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| Credit Suisse Global |
| Credit Suisse Group is an international financial services group. - Shares part of SMI. |
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| Experian: Free Credit Report and Credit Score, Credit Check ... |
| Credit referencing and consumer targeting for the USA and other countries. |
| www.experian.com |
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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. |
| www.ncua.gov |
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| Credit - Wikipedia, the free encyclopedia |
| Debits and Credits, a type of bookkeeping entry; Credit (creative arts), acknowledging the ideas or ... Retrieved from "http://en.wikipedia.org/wiki/Credit" ... |
| en.wikipedia.org |
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| Credit (finance) - Wikipedia, the free encyclopedia |
| Any movement of financial capital is normally quite dependent on credit, ... Sometimes if a person has financial instability or difficulty, credit is not ... |
| en.wikipedia.org |
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| The National Foundation for Credit Counseling |
| DebtAdvice.org is a service provided by the Members of the National Foundation for Credit Counseling (NFCC), most of them known as Consumer Credit ... |
| www.nfcc.org |
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| FreeCreditReport.com | Free Credit Report and Credit Score Online ... |
| FreeCreditReport.com: Free credit reports and credit scores from Experian. Get your free credit report and credit score now. It's free, fast, and easy! |
| www.freecreditreport.com |
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| Compare credit cards | apply for a credit card | 0% balance ... |
| Compare over 300 credit cards, including 0% offers and balance transfers, and make a credit card application online... |
| www.moneysupermarket.com |
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| Ford Credit - Auto financing for Ford, Lincoln and Mercury cars ... |
| Ford Credit provides auto financing to finance a lease or purchase a car or truck through Ford, Lincoln or Mercury dealerships. |
| www.fordcredit.com |
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| The Credit Card Prank |
| In my lifetime, I have made nearly 15000 credit card transactions. ... Credit card signatures are a useless mechanism designed to make you feel safe, ... |
| www.zug.com |
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| Credit magazine, corporate bonds, derivatives, structured credit ... |
| Credit magazine provides information on the international credit markets for credit investors, issuers and market professionals. |
| www.creditmag.com |
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| CUNA: The Credit Union National Association |
| News and resource directory about credit unions. |
| www.cuna.org |
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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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