Expert Credit Score Repair Tips That Really Help

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Dec 082017
 

Having poor credit means you might not get the results you want from companies that look at your credit. The longer your low credit score lasts, the more limited your financial choices will be. It’s important to take steps to restore your credit so that you can have better financial opportunities. These handy hints are designed to help you in getting your credit back into good shape.

By maintaining a good credit score, you can decrease your interest rate. By doing this your monthly payments will be easier to afford and your bill will be paid off faster. Obtaining the best possible interest rate saves you money, and helps you maintain your credit score.

Do not do things which could cause you to go to jail. The Internet is rife with many scams that will go into detail about creating yourself a brand new credit file and making the old one magically disappear. Do not attempt this because it’s illegal; you will not be able to avoid getting caught. Legal repercussions will cost you a lot of money, and you could go to jail.

If you have credit that is not high enough for you to obtain a new credit line, sign up for a secured card. You will most likely be approved for this type of card, but you will have to add money to the card before you can use it so the bank will know that you can pay for all of your purchases. A new credit card, used responsibly, will help repair your credit rating.

If you notice credit reporting errors, always file a dispute. Include proof along with a letter disputing the claim to the agency that recorded the errors. Ask for a return receipt so that you can prove that the agency got your package.

Taking time to examine your monthly credit card bill is critical to ensure that there are no errors. If there are, you will need to contact the company immediately to avoid them reporting this to a credit reporting agency,

Be certain to get any credit repayment plan in writing. This is a great way to have documentation of the plan if the creditor changes their mind or the company ownership gets changed. Upon completion of payment, make sure to get the receipt in writing and send it to the credit reporting agencies.

You can dispute inflated interest rates if you are being charged more than you should be. There are laws that protect you from creditors that charge exorbitant interest rates. You did however sign a contract that agrees you will pay off all interests as well as the debt. You may wish to make a legal claim that the interest rate charged exceeded your state’s statutory limits.

Avoid filing for bankruptcy. Bankruptcy does not drop from your credit report until ten years have passed, so you will deal with the fallout for a significant period of time. Bankruptcy may sound great because your debt goes away but there are consequences. If you do file for bankruptcy, it will be extremely difficult to get approved for a loan or a credit card for many years, if ever.

Only work with legitimate credit restoration companies. There are many scams that happen in the industry of credit score improvement. Far too many people have been bilked by dishonest agencies. Take the time to read reviews of different agencies. This will allow you to find an honest one to work with.

Repair your negative credit to open up more opportunities in the future. There are different things you can do that don’t cost any money which will help repair your credit. Follow this advice and your credit will have been repaired.

Avoid credit schemes that will get you in trouble. There are plenty of credit scams that purport to erase your existing credit file and create a new one. Needless to say, this is against the law and you are likely to get caught. The end result of getting caught during the crime could be expensive legal fees and a possibility of time behind bars.

Sep 252017
 

Ever wonder what's baked into your credit score? There's no secret-sauce. Let these tasty cupcakes explain it all.

? Jamming out? The song "Take It Back" is by the amazing Tumbleweed Wanderers.

Aug 012017
 

Get your credit score at

TransUnion is committed to helping you understand the role credit plays in your life, how day-to-day decisions influence your credit rating and how you can access and use credit to achieve your own goals.

Here are some of the factors the basic credit scoring formula takes into account:

* Payment history – A good record of on-time payments will help your credit.
* Outstanding debt – High balances in relation to your credit limits can harm your credit. Aim for balances under 35%.
* Credit account history — An established credit history makes you a less risky borrower. Think twice before closing old accounts before a loan application.
* Recent inquiries – When a lender or business checks your credit, it causes a hard inquiry and a slight ding to your credit score. Apply for new credit in moderation.
* Types of credit – A healthy credit profile has a balanced mix of credit accounts and loans.

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(Partial Transcription)

It's all around you, behind the purchase of homes, cars, electronics, and countless other items. There's a system in place that enables the millions of credit based transactions that occur everyday to be conducted quickly and efficiently.

When you apply for a credit card or a loan, the lender will most likely want to know how you handle your credit.

Jun 082017
 

Credit reports play a surprisingly large role in our lives, but even more surprising is how often they contain critical mistakes. John Oliver helps credit agencies see why this is a problem.

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