Discover the Truth About Your Personal Credit Report

Were you aware your personal credit report can be the determining factor in your getting a job? Did you know your private credit report can cause your personal auto and life insurance rates to go up? Just for your information it can also stop you from being insured.

Now did that get your attention? If it didn't you have to be asleep at the wheel. Read on to discover other tips about your personal credit report you may not have known.

Most people understand what a personal credit report is. However, most people don't realize the number of companies and government agencies which have access to your credit information. Not only do they have access to it; they use your credit history to make decisions, which can affect you for the rest of your life or at least in the foreseeable future.

One of the companies that will access your credit report is the insurance companies. You may not know it but when you complete an insurance application and sign it; in most cases you are giving them authority to check your credit history. Depending on what the insurance company’s standards are, your credit score and credit history may keep you from being insured or even cause you to be insured at a higher rate.

Your federal and local government agencies also have access to your credit report. One of the major drawbacks about that is they don't have to reveal to you or get your permission to check your credit history. But in order to get this information these agencies must have a viable reason for obtaining this information.

One agency that you and other people may not like to hear about is the IRS. (Internal Revenue Service). If you are being audited they can track your credit history to help determine if you are committing fraud or not reporting all your income. The way they would be able to use your report is if you have paid off large amounts of debt, but did not report enough taxable income to have done so.

One way your credit report is used is by employers. Often time’s small and large employers will use the credit report to help make character decisions about you. Another way is if you are going to be in a position of handling money, they want to know if you are deeply in debt. It's hard to believe your personal credit report can be used that way, but it is perfectly legal.

It is true the credit card companies and loaning institutions want to know if you pay your debts on time. But they also want to know that you have enough income to pay any new loan they may make to you. Your personal credit report will not only show the total of the loan but the monthly payment amount.

Many of the lenders will use this information to set a pre-determined credit amount or loan amount. If the total payments plus the new loan payment is above what is called the debt to income ratio they may not grant the loan at all.

As you can see your whole life can be affected by your credit report. Therefore it is advisable for you to keep your personal credit report in the best shape you can.

Tips About Your Free Annual Credit Report

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Did you know a review of your free annual credit report can save you thousands upon thousands of dollars? That is a staggering thought in itself; don't you agree? But there is something worse that can be happening to you. Your personal reputation and good credit could be ruined forever. You can lose your personal reputation and thousands of dollars if you don't know someone stole your identity. The following tips will help to keep this from happening to you.

Identity theft has become an illegal enterprise of thieves which has profited by hundreds and hundreds of millions of dollars a year. One of the main reasons it has become so profitable is that people, just like you, have no idea their identity has been stolen. The first way you may find out about it is when the following scenario’s or something similar happen to you.

One evening you and your family are sitting in the family room watching a little TV and relaxing. Suddenly you get a phone call from a mortgage company, which you know nothing about, wanting 90 days of back mortgage payments. As you’re standing there in confusion and disbelief this guy is telling you, if you don't pay, legal action will be taken.

If not that scenario, then perhaps you get a credit card bill for a credit card you have never seen. You open the bill and there is $5000.00 worth of charges for electronics charged against your name. It also shows you are more than 60 days delinquent in payments. It is mind numbing and debasing to you and your family. Your first thoughts are how could this happen?

Chances are if this happens to you it is because your personal identity has been stolen. This thief has used your social security number, your driver’s license number, date of birth and other personal information to get approved for the credit card or loan. The many ways this can be done are beyond the scope of this article. However, there is a way you could have been alerted much sooner and perhaps shut it down before all the damage was done.

In July of 2005, the Federal Government of the United States, passed legislation that gave every citizen in the United States, including you, to be able to get a copy of their free annual credit report. All you have to do is go on-line, write or call and request a free copy from the following 3 major credit reporting agencies:

1. Equifax: http://www.equifax.com/home/  Phone:  1-800-525-6285
2. Experian: http://www.experian.com/   Phone: 1-888-397-3742
3. TransUnion: http://www.transunion.com/ Phone: 1-800-680-7289

Not only can you get your free copy of your credit report, each of these credit reporting agencies, have other programs which can help you. In case of Identity theft they have free information on how to repair your credit report. They offer 24 hour monitoring of your credit report. In addition they provide other programs which can help keep your credit rating safe.

For instance you can put a freeze on your credit report. This prevents anyone from checking your credit without your express approval. However, just for your information a freeze can also slow down the process when you apply for new credit.

As you can see, by learning about your free annual credit report, you have other services from the Big 3 which can help protect you. If you suspect fraud, identity theft and are suddenly getting approved for credit cards and other loans; it's time to grab your free annual credit report.

How To Find and Check Out a Consumer Credit Counseling Agency

Are you and your family desperate for relief from your creditors? Are you receiving:

1.    Bill collection notices in the mail
2.    Bill collection phone calls
3.    Threats of wage garnishment
4.    Threats of legal action
5.    Threats of car repossession
6.    And the list goes on

Are you looking for a possible solution to keep you out of bankruptcy? Perhaps it's time for you to find a consumer credit counseling agency. One that is a proven and trustworthy company that knows what they are doing.

Frankly it’s not hard to find a credit counseling service. Chances are you can pick up your local yellow pages and will find nationwide companies and local companies as well. The hardest part of it is to make sure these companies are trustworthy and reliable.

It is imperative for you to check out these companies. One of the best places to start is with your BBB (Better Business Bureau). First thing you should determine is if the counseling company is in good standing. However, if the answer is yes don’t stop there with your questions.

Take the time to dig a little bit deeper with the BBB. Ask if the credit service has or had any complaints filed against them. Then ask if any of the complaints are still outstanding and if the others have been resolved.

One of the things you will find for many of these companies is that the registered complaints may well be for the same thing. This will give you a clear indication this particular company is not trust worthy.

Another way for you to check out the consumer credit counseling agency is to check with your states Attorney General. Most states have a division of Consumer Affairs which work under the Attorney General. If complaints have been filed against a counseling service thru the AG’s office they will be a matter of public record.

Thanks to the World Wide Web, chances are you won’t even have to leave the comfort of your home to check out these companies. In most states you will be able to go on-line to your states government web site and find what you need. This can be especially helpful if the company you are thinking of working with is from out of state.

The Internet is another great source for finding consumer credit counseling agencies. All you to do is use the Google search engine or a similar one and you will be provided with 100’s of credit counseling companies. However, it pays to do your due diligence on the company before making the decision to go with them.

Frankly, your best bet is to stay local, but you may not be able to. You should make sure regardless, if the company is local or not, they have been in business for a minimum of five years or longer. If a company has been doing business in your state that long, it is good chance they are above board and reliable.

Just as in any other business dealing there are in and outs you need to know about. However, when it comes to a consumer credit counseling agency you must make sure you cross every T and dot every I.  

The Truth About Debt Consolidation Loans and Bad Credit

Debt consolidation loans and bad credit is the cry heard more and more in today’s financial news? Have you become one of those borrowers who have found it extremely difficult to consolidate your outstanding debt because of bad credit? If you are part of the information contained in here, this will give you a bit of light at the end of the tunnel.

You like so many others in today’s world of instant gratification many have fallen into the biggest nightmare of all. Your credit was so good, 5 or more credit card companies’ extended more than $50,000 in credit lines to you and before you knew it you had maxed the cards out and borrowed on the equity of your home to try and pay them off.

When that didn't work you fell behind on all your bills including your house note. Within six months you had gone from a credit score of 725 to a low of 595. Which means you will now have difficulty getting any type of loan because of bad credit.

However, this doesn't mean all hope is lost. It means you are going to have work a little harder to find companies that will help you reorganize your debt. This is the only way you will be able to get debt relief and start rebuilding your credit.

There are financial organizations which specialize in debt consolidation loans for bad credit applications. However, you need to be careful because there are some drawbacks to working with these companies. Because of your bad credit history you are considered to be in a high risk category for payback of the loan or loans.

Many of these companies will take the risk of loaning you the money, but you are going to pay out the nose for the interest. On top of the interest you may have an upfront application fee, plus other fees buried in the fine print of the loan. The end result being you will end up paying back more money, to these lenders, than what you would have paying back your debts originally.

You need to understand that not all of these companies are out to rip you off though. Many of them are perfectly legitimate financial institutions which work with folks like you that have a history of bad credit.

When working with a good company, you may have to agree to pay a higher rate, but one that is much lower than the rates being charged by the credit card companies. In addition, some of these better companies will require you to undergo some financial counseling. The purpose of this being to get you the necessary tools you need to keep from getting into trouble again with your credit.

These good companies want you to succeed in your plan to reorganize your debt. They will do everything they can to help you get your finances squared away. As you continue to work with them over a period of time you will see your credit score start to come back up.

You can recover from the strangle hold that bad credit and mind numbing debt have on you. It means you will have to work harder to find a debt consolidation loan company to work with you. However, if it puts you on the road to debt recovery and a positive credit history it will be worth all the extra work and cost.

Let's Talk Investment :CONTACT ME

ROI Homes is helping investors throughout Central Florida realize their potential and acts as a guiding light through the rehabilitation process and rejuvenating the community one home at a time!

We scour through hundresd of homes for sale, analyze properties to find the ones which after renovation have the best return on investment and pick them up and offer them to investors at wholesale price. We have several homes in the 50-60,000 range that after 15-20,000 worth of renovations will be able to be resold at reatail for $110-120,000. I can show you these properties.

Discover Proven Debt Relief....Christian Debt Consolidation

Do you know for sure Christian debt consolidation is legitimate and not just a scam? The truth is there are some of the so called "Christian Debt Consolidation" companies that are rip offs. However, there are many very legitimate, non-profit, faith based organizations to help Christians.

There are some specific things you should check for to determine if it is a legitimate Christian service or not. The information you gather here will help you make the right decision.

One of the first steps you should take in choosing a true Christian organization to help you is to check with your local Pastor. There is a good chance he or she will be able to refer you with no problem. However, if your local Pastor can't help you, one of the larger Churches in your area will be able to assist you.

Many of today’s Christian congregations have a specific ministry set up for the purpose of debt counseling. Not only will they council you about debt consolidation, but they will provide you with a full spectrum of biblical based financial counseling.

These counseling sessions will cover:
1.    Money Management
2.    Budgeting
3.    Debt Elimination
4.    Debt Relief
5.    Christian Debt Consolidation
6.    Debt Reorganization
7.    Possible Bankruptcy

Each of these programs will be presented and taught to you so as you won’t have to comprise your Christian doctrine.

When you first began talking with any organization you always verify they are a legitimate non-profit service. If you are talking with them on the phone or in person you should ask them for proof of their non-profit status. You will find the legitimate ones will have no problem with providing documentation.

However, if they are on the questionable side of being a legitimate Christian service they will do what they can to avoid producing the appropriate documents.

A very good indication of a true Christian counseling service, there will be no high pressure tactics to get you to sign up for the service. If you should detect or sense the councilor you are talking to is using “closing techniques”, it would be best to terminate the conversation.

High pressure closing tactics are put into play for one reason and one reason only. It is to get you to sign on the dotted line right that instant. In other words they have their own interest at heart and not yours.

A legitimate Christian debt councilor will not use “sales closing” strategies. Their goal will be to get a commitment from you to commit to changing your financial life. These folks know for a fact, unless you are fully prepared to make a lifestyle change, in your spending, money management and budgeting, nothing will change.

The other not so “true Christian debt service” will not care if you make any changes or not. Primarily they want you to come crawling back to them again in a few years to put more money on their bottom line. In fact they know if they play their cards right you will be a lifetime customer.

As you have learned there are legitimate and not so legitimate Christian debt consolidation organizations. It is important for you to be able to make the right choice, so you will indeed have a solution for your debt problems.   

Let's Talk Investment :CONTACT ME

ROI Homes is helping investors throughout Central Florida realize their potential and acts as a guiding light through the rehabilitation process and rejuvenating the community one home at a time!

We scour through hundresd of homes for sale, analyze properties to find the ones which after renovation have the best return on investment and pick them up and offer them to investors at wholesale price. We have several homes in the 50-60,000 range that after 15-20,000 worth of renovations will be able to be resold at reatail for $110-120,000. I can show you these properties.

Tips About American Credit Counseling

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You have read all the hype and listened to all the commercials about American credit counseling, haven't you? Almost every one of them has promised to get you out of debt, eliminate your bad credit report and do it all legally. Right?

In addition you have heard many of them proclaim to be non profit. You begin thinking "Oh boy! There going to do it for free". Guess what? Don't you believe it! If you do you're in for a rude awakening.

Many of these companies that make these claims are just barely within the law. They aren't quite cheating you and lying to you, but they are pretty darn close. As you get into the fine print of their claims and contracts, you begin to discover the real truth.

First of all these companies can no more expunge your bad credit than the man in the moon. Much less do it legally. The only legal way to get bad credit off your credit report is to pay what you owe.

But the fact is every late payment, defaulted loan and any other piece of bad credit goes on your report, including the record of your debt consolidation stays on your record. Currently all this information will be available to lenders, insurance companies, employers and others, for a period of seven years. What good are they then? You might ask.

The American credit counseling company can take the burden off your shoulders of negotiating with the companies you owe money to. They will set up a mutually agreed on plan with your lenders on consolidating all your payments; into one lump sum. There is also a chance they can get the interest rates lowered on your loans.

In addition, they are experts at stopping the collection calls and may even be able to reduce your late and over balance fees. This is all well and good. But guess what, you can do it yourself, of course these companies don't tell you that. Why, because they want to get paid for their service.

Next let's talk about the nonprofit claims. It is true many of these companies can file for and be granted nonprofit status by the United States federal government. But everybody that works for those companies has to make a living. So you will be charged a fee for using their service.

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You will be surprised to learn many of these companies don’t disclose these hidden fees to you. After you have contracted for their services you will send them your lump sum payment. However, prior to disbursing your money you were paying before; they take their hidden fee off the top.

What this means for you is the amount going to your lenders is less than what you thought you were paying. The possible end result being that it still takes you years to pay off the debt. Plus the fees could end up being more money than the lowered interest rates benefited you.

It is extremely important for you to get every bit of information you can from the American credit counseling companies. They can help you, but they can also make your financial situation even more desperate than it already is. 

ROI Homes is helping investors throughout Central Florida realize their potential and acts as a guiding light through the rehabilitation process and rejuvenating the community one home at a time!

We scour through hundresd of homes for sale, analyze properties to find the ones which after renovation have the best return on investment and pick them up and offer them to investors at wholesale price. We have several homes in the 50-60,000 range that after 15-20,000 worth of renovations will be able to be resold at reatail for $110-120,000. I can show you these properties.

Tips About Unsecured Debt Consolidations

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Are you ready to throw in the towel on ever getting out of debt? Don’t do it. You may have a chance to reduce your debt with unsecured debt consolidation loans. These loans are somewhat more difficult to obtain, but it is well worth the effort. You will find tips on how to use unsecured consolidation loans to put you back in charge of your debt. Instead of the debt controlling you, you will control your debt.

First, it is important for you to understand the difference between unsecured loans and secured loans.

Let’s suppose you are a student just starting out your freshman year of college. Shortly after being accepted by your school of choice, you started receiving pre-approved credit cards. You accepted the offer and within 10 days or so you received your card. The first thing you did is go out and buy text books for your classes; to the tune of several hundred dollars.

Being short on cash you put it on your new credit card. You just made your first unsecured debt. If you forfeit on the loan for some reason, the credit card company can sue you, but they can’t take your school books from you. You did not have to use the books for collateral to get the cash to pay the book store.

Now let’s say you need to take a student loan to pay tuition, lab fees, additional books, housing, food and etc. Because of the amount you need, the bank or lending institution has said they will loan you the money. However, to get it, you or someone, is going to have to put up collateral to secure the loan. Just in case you forfeit on the loan, this gives the bank the right to foreclose on whatever property was put up to secure the loan.

It’s time to move forward and the years have passed and all your student loans, family debts and credit card bills are burying you. You need a way out, but you don’t own any real property. Other than your car and it has a lien against it.

Your first step is to go to your personal bank and apply for an unsecured debt consolidation loans. If you have a good record with your bank, no hot checks or defaulted on any loans with them, you may well qualify for an unsecured consolidation loan.

Your personal banker will work with you to determine which of your loans should be consolidated in the new loan and which ones will not be. One of the reasons for doing this is most credit card interest rates will be much higher than a bank loan. However, depending on the type of student loans you have, you may have a lower interest rate, than what the consolidation loan will have.

There is also a good chance your bank may have a credit counseling service or be able to refer you a reputable non-profit credit counselor. This service could prove to be invaluable to you so as you don’t get yourself in over your head later on.

Normally you will find many unsecured debt consolidation loans will range from six months to five years. Whereas most secured consolidation loans will have a longer time for repayment from 10 years and up. Obviously the shorter the time frame for repayment the quicker you will get your debt reduced.

As you have seen there are two types of consolidation loans you may qualify for. Both have the same goal and this is to reduce your debt burden.

Depending on what your personal situation is and your ability to repay unsecured debt consolidation loans you may find the relief you are seeking.

LET'S TALK REAL ESTATE

ROI Homes is helping investors throughout Central Florida realize their potential and acts as a guiding light through the rehabilitation process and rejuvenating the community one home at a time!

We scour through hundresd of homes for sale, analyze properties to find the ones which after renovation have the best return on investment and pick them up and offer them to investors at wholesale price. We have several homes in the 50-60,000 range that after 15-20,000 worth of renovations will be able to be resold at reatail for $110-120,000. I can show you these properties.

Secret About Debt Negotiating

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First let's get a brief review of Part 1 and then move into Part 2 of "Secrets About Debt Negotiating And Protecting Your Rights".

If you are in financial trouble in the United States or other countries you have the right to debt negotiating. In other words, you can bargain with your lenders to try and get better terms to pay off your debt.

You are going to need to be prepared when you start this process. The people you are going to be talking to are professionals and they know precisely what to say and how they can say it. Therefore it is imperative for you to know your rights also.

There are basically three ways to learn what your rights are.

1.    Visit the FTC (Federal Trade Commission) website http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre18.shtm
2.    Visit your states official web site and find your rights in your particular state. Normally you will find this in the State Attorney General part of the site.
3.    Seek advice from a qualified debt attorney. And hire him to do the negotiations for you.

The third choice can get expensive very quickly. Here are some additional tips you can rely on if you want to do your own debt negotiating.

•    Keep records
•    You should keep a journal or at least a note pad of every time you have contact with a lender.  Do it when they call you and you call them. You should note the following in your journal:

o    Date and Time
o    Name of collection agency
o    First and Last name of who you talked to
o    Notes on what was said

If by chance you and your lender reach a debt repayment plan, it is imperative to get it in writing. Do not make a payment until you have the agreement in writing. However, remember when you get it in writing it is a double edged sword. It can work for you and it can work against you.

There are two ways for you to do that. You can request the debt collector to mail you a letter confirming the agreement exactly the way it was discussed on the phone. Make sure that it is on their company letter head and signed by an officer of the company or someone else with legal authority to sign the letter.

Actually the best way to get it in writing is for you to draft a letter to the lender, laying out the terms as you understand them. Be sure and send this letter by certified mail, return receipt requested. This gives you the proof you need to show you have acted in good faith.

One thing you may not really understand is that the collection company and their representative cannot rush you into making an agreement and payment. No matter what they say or how hard they “brow beat” you don't make any payment until you have it in writing and signed by an official.

If you will notice in the above paragraph we mention a debt collector using "brow beating" tactics to rush you. Listen and listen good folks! You are protected under the  Federal Consumer Protection Act and more than likely your own state has a very similar protection for you from those types of tactics.

The following is just a few of the things a debt collector cannot do:

•    No harassment
•    Abuse you (verbally or in writing)
•    No cussing or indecent language
•    No phone calls on a consistent basis
•    Cannot contact your employer (when you notify the collection company your employer is prejudiced against these calls)
•    Plus many more (which are beyond the scope of this article)

Are you aware that if the collection agency infringes on your rights you have the legal right to report them to state and federal authorities. You can even sue them and collect damages in some cases.

You have the right to do debt negotiating in good faith. You should know what you can do and not do. Be prepared!

Oh yeah! Don't forget about the tape recorder I told you about in Part 1 of "Secrets About Debt Negotiating And Protecting Your Rights".

How You Can Profit With Your Business Credit Report

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As a small business person one of the most important assets you have is your Business Credit Report? Along with your own personal character and a good credit report you can just about name your own ticket in your local community. Furthermore, it can help you expand you business to the far reaches of the world. This article will give you some ideas of how important your credit report is to your profit.

As an astute business person you know you will have to contact new customers. In a lot of cases when you do the new customers want to know how reliable you are. Not only will they be looking for personal references but they want to know you are sound financially.

They may ask you to furnish credit references and other information about you and your company. Many times these new customers will use your business and personal credit report, to verify your financial stability and personal character. By chance, if you happen to have reports of outstanding debt, which has been unpaid or public judgments for failure to finish projects, your chances of landing this new customer are slim to none.

Not only can the above circumstances affect your ability to grow your business, it may prevent you from obtaining proper business insurance. In many cases you may have to carry a large umbrella policy for liability, before you can bid on certain jobs or actually perform the job function. In today’s modern society you and your company can be sued for anything and everything.

Without a proper credit rating, as reflected by your business or personal credit report, you may be refused insurance all together. If you are not insured you may be considered a higher risk and end up having to pay an outrages premium. Whereas with a good business credit report the insurance companies may look very favorably upon giving you a large discount off the premium.

One of the most lucrative forms of business for a small business is government contracts. Once again your personal and business report will be verified. This becomes especially important if your company and you are required to have a security clearance in order just to bid on the project. A reflection of bad credit on your credit report can stop a security clearance or other government contracts dead in the water.

However, with your outstanding credit and personal character, because you are a small business owner you can have a leg up on the larger companies. The reason for this is the Federal government; of the United States has special preference programs for the small business owners. This means you may be able to add another stream of income to your bottom line. Once again you can see how your credit report can help make you profit.

Here is a little tip that can help you keep your business credit report looking good and help your cash flow at the same time. Most companies, when they extend credit, will give favorable repayment terms to your small business, provided your credit worthy. If the term is Invoice Net 10 days, most companies will not report you as long as you get the invoice paid before 30 days are up.

If you are in a cash flow crunch, have your bookkeeper set up to pay the invoice before the 30th of the month. Make sure the bookkeeper allows enough time for the mail. This tip should only be used discreetly and infrequently. Otherwise you will get a reputation of using your vendors to finance your business operations for 30 days.

There is a drawback to this kind of credit repayment. Many of your vendors now will start calculating a late fee and interest payments as soon as the 10 days is up. So instead of enhancing your cash flow it can further deplete it.

You as an ethical business person have the responsibility of keeping your debts paid and paid on time. When you do this you have seen how your business credit report can be a profit center for you.

TIPS ABOUT AMERICAN CREDIT COUNSELING

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You have read all the hype and listened to all the commercials about American credit counseling, haven't you? Almost every one of them has promised to get you out of debt, eliminate your bad credit report and do it all legally. Right?

In addition you have heard many of them proclaim to be non profit. You begin thinking "Oh boy! There going to do it for free". Guess what? Don't you believe it! If you do you're in for a rude awakening.

Many of these companies that make these claims are just barely within the law. They aren't quite cheating you and lying to you, but they are pretty darn close. As you get into the fine print of their claims and contracts, you begin to discover the real truth.

First of all these companies can no more expunge your bad credit than the man in the moon. Much less do it legally. The only legal way to get bad credit off your credit report is to pay what you owe.

But the fact is every late payment, defaulted loan and any other piece of bad credit goes on your report, including the record of your debt consolidation stays on your record. Currently all this information will be available to lenders, insurance companies, employers and others, for a period of seven years. What good are they then? You might ask.

The American credit counseling company can take the burden off your shoulders of negotiating with the companies you owe money to. They will set up a mutually agreed on plan with your lenders on consolidating all your payments; into one lump sum. There is also a chance they can get the interest rates lowered on your loans.

In addition, they are experts at stopping the collection calls and may even be able to reduce your late and over balance fees. This is all well and good. But guess what, you can do it yourself, of course these companies don't tell you that. Why, because they want to get paid for their service.

Next let's talk about the nonprofit claims. It is true many of these companies can file for and be granted nonprofit status by the United States federal government. But everybody that works for those companies has to make a living. So you will be charged a fee for using their service.

You will be surprised to learn many of these companies don’t disclose these hidden fees to you. After you have contracted for their services you will send them your lump sum payment. However, prior to disbursing your money you were paying before; they take their hidden fee off the top.

What this means for you is the amount going to your lenders is less than what you thought you were paying. The possible end result being that it still takes you years to pay off the debt. Plus the fees could end up being more money than the lowered interest rates benefited you.

It is extremely important for you to get every bit of information you can from the American credit counseling companies. They can help you, but they can also make your financial situation even more desperate than it already is.

Tips On How To Keep Your Credit Score High

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Were you aware that your credit report score is what will either make you or break you when you apply for a loan or credit card? And this is just a plain fact. The fact is the majority of companies that give credit use it to determine if you get your loan or not.

These tips contained in this article will give you a good idea of how your credit score can work for you or against you.

When you are first starting out in the world of credit it can be a Catch 22 for you. If you have no credit history your credit score will be low. Therefore when you first apply for a loan the chances are you may be turned down.

However, there is a way to build up your credit score. Once you have gainful employment you can go to a consumer store and purchase a low dollar ticket item of several hundred dollars. Your monthly terms will be low but take the time to make your payments on time over 6 to 8 months.

By doing so this will factor into your credit report score when you go back to apply for a larger dollar amount on credit. Once you show you have been on the job and made your payments on time your overall credit report score will move up.

What can cause your credit score to go down?

1. Debt To Income Ratio
This means you have obligated yourself to pay back a high amount of your salary to monthly obligations. Let's say your monthly income is $2000 and your monthly pay out is $1700 in obligated debt. Your debt percentage is 70% of your income. Not a good idea!

2. Slow Payments
Once your payment becomes 30 days late it is reported to the credit bureau. Even one late payment will lower your score.

Where this really becomes a threat to your credit score is when you don't catch up the payment. The only way you can do that is to pay the late one and the very next one on time.

If you don't do this the 30 day late payment will increase in number and each time it shows late it lowers your score.

3. Repossessions and Foreclosures
If you have a car, furniture or any other item foreclosed on this will go on your credit report for 7 years. It will continue to keep your score lower because of them.

This list could go on and on, but let's look how you can keep your score up.

It is important for you make your payments on time. A continuous record of on time payments will continue to drive your score up. The longer you have a good record the higher your credit report score will be.

The higher your score, the more likely the chances of you being able to buy a good home, a high priced car and other toys on credit.  However, just because you have the ability to do so does not mean it's a good idea to rush out there and do so.

To be straight forward about it there are many things which factor into your credit score being high or low. However, when you apply common sense to your credit worthiness you have an excellent chance of keep your credit report score high.

Secrets About Debt Negotiating and Protecting Your Rights

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You’re sitting at dinner with your family and the telephone rings. It's a bill collector and they are demanding you pay them right now. Today! Tonight! Guess What? You don't have to do that. You have the right to what is called debt negotiating.

Very simply put this means when you are in financial trouble and can't pay your bills, you have the right to negotiate with your lenders, regardless of who they are. In addition, if the bill has been turned over to a collection agency, you can bargain with them also. However, this may not be quite as easy as it sounds.

Don't let this information scare you, use it to your advantage when you are talking with debt collectors. You are going to be dealing with someone who knows what they can say and how they can say it, when collecting a debt. This means it's critical for you to know your rights before starting the discussion.

One of the fastest ways for you to learn your rights is to go on-line to the Federal Trade Commission site. This official U.S. Government on-line brochure can be printed out so you will have it at your disposal day or night. You will find this brochure on-line at http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre18.shtm.

In addition, many of the individual states have their own laws about debt collection. A quick check on-line with your states official site will fill you in on your rights and the bill collector’s rights. In addition, there are other ways to protect yourself.

Did you know that in 35 states in America, plus Washington, D.C., you can secretly record phone conversations? In the 15 other states, you can record a telephone conversation provided you advise the other person you are doing so.

You should check with your states Attorney General, on-line, to make sure where your state stands on this issue. Any time you are involved in debt negotiating with a lender or collector, always try to have a tape recorder hooked up.

It's a tool which works like magic during a negotiation. You would be surprised how calm and helpful lenders and debt collectors become when they are being recorded. However, you need to bear in mind that a recording can work both ways. Be sure to make only statements and commitments you can keep.

You do not have to let them bully you into making financial commitments you can't keep. Even though they insist you do it their way, make no mistake, you have the right to discuss the debt in full. Rationally and calmly! Determine what you can pay and then offer less than the amount. This way it gives you additional bargaining power, as the collector is going to try and bump up that amount. Never go over the amount you can pay.

Remember, one of the reasons you are in this 'debtor’s hell' is you overextended yourself. Trying to pay back more than you can will only dig the hole that much deeper.

This is only the first installment in a two part series on “Secrets About Debt Negotiating And Protecting Your Rights”. Be sure and read Part 2 of this article.

Discover The Truth About Credit Report Repair

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Did you just try to get a loan for car repairs and get turned down? That is a horrible feeling and it even makes you feel you have let your family and yourself down. Right? Don’t get desperate and run out to hire a company to do a credit report repair. You may find yourself in worse shape than before you started. This article may well give you 2nd thoughts about using one of these companies.

Chances are you have seen the ads for “Legally Repair Your Credit Report”, “Wipe Your Credit Report Clean In 7 Days”, “Buy A New House With A Clean Credit Repot” etc. You have been sitting in your favorite recliner watching the TV and suddenly somebody starts telling you can have a clean credit report in as little 30 days.

Hold on to your wallet if you are thinking about calling them. No matter what promise these companies make, bad credit transactions are going to stay on your personal credit report. They cannot wave a magic wand and make your bad debts vanish; like magic.

What you are hearing and reading is a first class con job, being played on desperate people. Many of these companies have been put out of business by the FTC (Federal Trade Commission) and local states Attorney General. The sad part is there are those that remain in business and continue to rake in $1000.00s of dollars per month from unsuspecting people.

Even some of the companies still in existence are a fly by night operation. You pay them a fee from as low as several hundred dollars to a high of perhaps a thousand or more. They collect your money and the next time you call them the phone has been disconnected.

However, there are some that actually offer a legitimate service. But you are going to be paying them to do something you can do yourself. All they are going to do is take the list of your debts, fill in a form letter to your lenders and ask them to prove the debt. Hey! You can do your credit report repair yourself.

O.K. are you now asking how you clean up your own credit transcript. You are most likely not going to believe this but the process is simple, but it can take some time.

Several years ago, the Federal Government of the United States, made it mandatory that the consumer had the right to get a copy of his credit report once a year. So the first step you have to take is write or call the “Big 3”, TransUnion, Experian and Equifax, and request a copy. By law they have to send you a current copy of your credit narrative.

If you should find false information reported by a creditor, your next step is write the company about their false information. By law, in 30 days, they must either prove the debt or have it removed if false. However, if you find the reported debts on your report are accurate, this is where the rubber hits the pavement. Because they will remain on your report for 7 years or until you clean them up.

When you hear the outrageous claims made by these companies, the old adage applies; “If it sounds to good to be true it probably is.”

In Part 2 of “Discover The Truth About Credit Report Repair” it will give you more information on how you can legally clean up your own credit transcript.

Proven Alternative to Bankruptcy

 

 

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Is your telephone ringing off the hook with bill collectors calling from seven in the morning to nine at night? Are you so stressed about it you're thinking the unthinkable; bankruptcy. Hold on! There may be a better way for you. It's using a debt consolidation nonprofit company.

This article will help you get a handle on the possibility of using debt consolidation to avoid bankruptcy.

One of the first steps you are going to have to do is get over feeling ashamed, because you have to have help with your personal finances. It's true you may have had control over what money you spent or saved, but life can throw unexpected curve balls at you. It can be anything from a sudden illness to a downsizing of the company you work for.

If one of these circumstances happened to you and your family, chances are you were caught with your pants down. Like most people you were spending everything you had. You were also buying necessary and unnecessary items on credit cards and small loans.

So now you have to bite the proverbial bullet and get help. Frankly, if you choose the right company or rather organization to help you, it will lower your stress to a manageable level. What you need is a certified and licensed debt consolidation nonprofit organization.

There are hundreds if not thousands of these nonprofit companies out there. Many of them will profess to have trained councilors. However, many of the so called councilors are simply out to swindle you with high fees up front. Some of these so called, not for profit companies take your money and don’t pay your creditors. The end results being you have late fees and other penalties, such as increased interest, added to your credit card bills and loans.

These added charges can be the straw that breaks the camel's back. Ultimately your only recourse will be to file bankruptcy to get debt relief. But this doesn’t have to happen to you.

You can avoid being put in this position by checking out which organization you work with. It is important to try and work with a legitimate company in your local area. You should be able to check your local yellow pages for listings in your city or the surround area.

Once you have found what appears to be a legitimate company, before calling them be sure and check them out. You should be able to call your states attorney to determine if any complaints have been filed. If complaints have been filed have they been resolved or are they still outstanding.

One of the best ways to find the best debt relief help is to contact your local churches. Many of these religious institutions will be more than glad to refer or even arrange to help you. Furthermore, they may have the capability of putting you into a full financial course, which will teach you the right way to avoid debt and manage your money.

Once you get over the guilt of having gotten yourself into your mess, you will be able to move forward and take positive action. Using a debt consolidation nonprofit organization will make the progress much easier for you. However, you must commit yourself to following the plan made for you.  If not you may end up having to do the unthinkable; bankruptcy.
 

 

Discover Alternative Solutions for How to Reduce Credit Card Debt

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Can you open your wallet and count more than two credit cards? If you said you had from 3 to 5 cards you may not be in trouble. But if you have over 5 credit cards there is a good chance you are in financial trouble or so close to it; that one emergency could send you over the edge. If that's the case for you; perhaps it's time you learn how to reduce your credit card debt.

But first let's confirm your situation - are you in financial trouble because of your credit cards? You should take the time to do a quick study of what's going on with your credit cards.

1. Do you know how much money you owe in total?

If you said no you’re in trouble.

2. Are your credit cards maxed out or very close to being maxed out?

If you said yes you’re in bigger financial trouble than you thought.

3. Are you and your significant other constantly battling over the credit card bills and other bills? Do You really need to eliminate credit card debt.

4. Are you using your credit cards to buy perishable goods such as food and other staples you need to live? That is no way to reduce credit card debt. Your just increasing your interest and balance.

5. Do next month's bills come in before you can pay this months? Wow! No doubt you need to know how to cut your credit card bills back.

If you find the above questions describe your situation you have got to reduce your credit card debt. Your next question to yourself is "How do I eliminate credit card debt?”. Actually you have several alternatives available to you.

A. Make a list of all your credit cards

• Include Balance Owed, Interest Rate, Minimum Payment

• Put the highest balance and Interest Rate at the top of the list

• Stating at the top call each credit card company and negotiate lower interest rate, late fees and over limit penalties

• Speak only with management

• Get new terms in writing

By doing this you will find many of the credit card companies will lower the interest rate and waive the late fees and penalties. This in turn will decrease the monthly interest charged and free up additional cash to make further reduction of your monthly balances.

This method of reducing your credit card debt works best before you start making late payments or missing payments completely. By doing so you will be able to show the management of the company you are honestly trying to prevent a sticky situation. Although some of the credit card companies will work with you, not all of them will.

In the case they don't want to work with you, then you may have to consider an equity loan on your home to consolidate your debts. However, it's very important to make sure you don't end up with a loan rate that will cost you more money over the long term. Chances are though your mortgage company or bank will make sure it will be a better rate and you will have it paid off long before you would the credit card debt.

This one solution alone could save you several hundred up to perhaps a thousand dollars in monthly credit card payments. The key to this plan is to use the money you save to reduce the amount owed on the home equity loan. By doing so you may well save thousands in interest and pay the loan off say in five years, instead of the 10 year term of the loan.

By the way, if you should get a home equity loan, don’t make the mistake of loading your credit cards back up. You should cut up all your credit cards except one or two to keep for emergencies.

Make sure the ones you keep have the lowest interest rates and keep them paid in full.

There are other alternative solutions to reduce credit card debt. It will behoove you to take the time to determine what your best solution is.

Super Low Prices on Cash Flowing Florida

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We offer houses at 30-50 cents on the dollar. Constant inventory of houses that will make a great rental or a quick turn. Start planning for your future today and set yourself up for a nice retirement. Now is the time to buy and earn that money you deserve. We do cash deals or offer our hard money service to you.

This opportunity is perfect for someone that wants monthly income with a small investment. Let ROI HOMES teach you how to invest and make money.

If you are interested in being on our mailing list or of the properties we have available now. Please call us For Access/Information today 407-796-9947 and I can add and send you a list of what we have.

Can You Trust Your Title/Escrow Company?

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Every homebuyer and seller needs the services of a Title and Escrow Company.  For the most part, your realtor has dealt with the same companies year after year but there are times when the seller or buyer will want to use the services of a new company.  Should you be worried or is every title and escrow company basically the same? 

The escrow company ensures that no funds will be released until all paperwork has been signed, documents delivered and instructions and contingencies completed correctly.  They safeguard your money until all conditions for both parties have been met.  And although each transaction is basically the same each escrow company might not follow the same route when preparing to close your escrow account. 

Most real estate brokers will be delegated this duty of choosing a title escrow company and will recommend a company they have dealt with numerous times; however, you have the right to choose any title escrow company you feel comfortable with.  You should ensure they are licensed, competent and experienced. This is very important because choosing the right escrow title company will make the difference between a smooth transaction, loss of money, inflated fees and delays to close on your property. Remember, this company will be holding thousands of dollars for you. Would you trust just anyone to hold that amount of money?

Escrow corporations must be licensed however there are times when some companies are exempt and many see this opportunity to use funds in an unorthodox manner.  What would happen if your funds were “borrowed” to close on another transaction?  What would happen if your funds weren’t available for any reason when it came time for your settlement?

Any homebuyer or seller should take a proactive approach in questioning which title escrow company they are using. Ask the following questions to your satisfaction before committing to use that company.

1.         What are all the title escrow fees?

2.         How long have you been an escrow officer?

3.         Do you have an assistant to help in your office? 

4.         Do you have an assistant? Are they familiar with the files?

5.         Are you comfortable closing “creative or difficult” real estate transactions?

6.         Can you do “subject to” closings, simultaneous closings, etc

7.         What are your hours of operation? If needed, are you willing to stay late?

8.         If needed can you meet clients for settlements away from your office?

9.         What recording times are scheduled for your company?

10.       How do you handle escrow collection accounts?

11.       Will you insure an all inclusive deed of trust?

12.       Do you have a notary available?

13.       What are your funding options?

14.       Do you have an after hours service for title information?

You want to simply ask everyone in this transaction “Will my money be safe.” If there is ever any hesitation to that answer keep looking for another title escrow company.  You’d rather be safe than sorry.