Web Success…FAST!

It may not be possible to provide you with everything you wanted to know about credit repair in this brief article, but here we attempt to give you the do-it-yourself basics and the facts about the many credit repair schemes that are being advertised and should be avoided.

Some companies advertise that they have a credit report repair Software and also they will teach you credit repair secrets, for a fee of course. There is a lot of free information here, if you know where to look. Before you take a credit repair course or sign up for credit report repair, read the facts and the laws relating to credit repair. In this way you may avoid some disappointment and save some money.

Credit repair is a popular subject. It seems that almost everyone wants learn about credit repair. Books and software programs that claim to contain everything you wanted to know about credit repair are being sold on the internet and in retail locations all over the country. There are some questionable credit repair schemes and some companies suggest action which is illegal. Consumers can learn to repair their own credit, but it takes time and patience. The safest bet when hiring someone to do the work for you is to hire a credit repair attorney. In this way, you can be sure that you will achieve results; they know everything there is to know about credit repair. You can also be sure that a credit repair attorney will not advise you to do anything that is illegal. Most of the popular credit repair lawyers do not charge more than the other credit repair companies and some offer money back guarantees.

One of the credit repair schemes investigated by the Federal Trade Commission involved a company that told their customers that they had a special valuable computer disc. This computer disc was supposed to contain everything you wanted to know about credit repair, when in fact there was nothing unique about the disc or the services offered by the credit repair company. They charged consumers, before results were achieved. In order to protect consumers from these credit repair schemes, companies are not allowed to charge customers upfront fees. In addition, consumers have three days to cancel any contract that they sign. Of course you may not enjoy the same protection when buying a book or software program that claims to contain everything you wanted to know about credit repair. So make your purchases carefully and look for money back guarantees.

The do-it-yourself basics for everything that you wanted to know about credit repair include reviewing and correcting the information on your credit reports. In response to a recently enacted law, the three major credit bureaus, Equifax, Experian and TransUnion, created a website to allow consumers easier access to their credit reports. Until this law was enacted, the credit bureaus were allowed to charge consumers a fee for a copy of their credit reports. You are entitled to a free copy of your credit report once in a twelve month period. You are also entitled to a free copy if you have been denied credit recently, if you are unemployed and plan to apply for a new job within the next three months or if you are on public assistance. The companies pushing credit repair schemes will not tell you where to find the information that you need to repair your credit reports, before you pay them. One way to identify a legitimate credit repair company is to look at what they claim they can do. If they claim to be able to do things for you that you could not do for yourself, with time, patience and know-how, then they are credit repair schemes.

The first place to go for everything that you wanted to know about credit repair is www.annualcreditreport.com. The credit bureaus are allowed to promote other services and products on this site. These are not credit repair schemes, but they are usually credit monitoring services or newsletter subscriptions which may or may not be helpful to you in your current situation. Be sure to spell the website address correctly, this writer has written a number of articles about credit repair and has been advised that she occasionally misspells it. You can link directly to the site from Credit Fix Solutions or the Federal Trade Commission’s official website for consumer credit.

The Federal Trade Commission website is also a good place to visit for everything that you wanted to know about credit repair. Their advice is discouraging to anyone that hopes to attain immediate credit repair, because there is no such thing. But they do provide a sample letter that you can use as a guide if you are planning to dispute information in your credit reports. You can dispute any information on your credit report that you believe is inaccurate, misleading, outdated or unverifiable. Unverifiable means that the credit bureau cannot verify the information.

Disputing information on credit reports is the main topic of most books that claim to contain everything you wanted to know about credit repair. Credit repair schemes may also focus on disputing negative items on credit reports. In fact the company that claimed to own the special computer disc, simply advised consumers to dispute every negative item on their credit report. It is not illegal to dispute any information on your credit report, but it is illegal for a company to make false claims about their services.

This is probably not everything that you wanted to know about credit repair, but it may be enough to get you started. Before you buy a book or software program, visit your local library. Experts have been writing books that are supposed to contain everything you wanted to know about credit repair for a long time. The only information that may not be accurate, depending on the date the book was written, is information concerning fees charged by credit bureaus for copies of credit reports. But, this article provided you with that information. Remember to avoid the credit repair schemes, take your time and have patience. Good Luck.



Are You Looking For A Realistic $250K First Year Income Potential?

Credit repair has its share of detractors, and perhaps for good reason. The FTC campaign against credit repair scams makes perfect sense. But for every consumer that has been disappointed by a questionable credit repair scheme, there are so many more that have benefited from the service of a genuine credit repair professional. Is it time for the FTC to acknowledge the good guys in the credit repair industry?

The credit reporting system is not perfect. There is no debate about this. The Fair Credit Reporting Act (FCRA) provides the legal process for consumers to correct errors on their credit reports and initiate a credit repair effort if necessary. How common are these errors? How difficult are they to identify and correct?

You may be aware of the often quoted Public Interest Research Group (PIRG) studies which conclude that three-quarters of all credit reports have errors. The Government Accounting Office (GAO) conducted a study of studies on the subject and also identified the severity of the issue. The real need for credit repair arises from the potential economic impact of these errors which translate into higher interest rates and less favorable terms for those affected.

To appreciate the need for credit repair you need only look at the numbers. Each of the three major Credit Reporting Agencies maintains data on approximately two hundred million Americans. Per the Public Interest Research Group studies, about one hundred fifty million Americans have errors on their credit reports. The PIRG studies conclude that although some of the errors will have little or no bearing on the credit classification of the consumer, a full twenty five percent of the errors are likely to result in outright denial of credit.

Twenty five percent represents fifty million people. As large a number as this is, it is only reasonable to extrapolate that there is an even larger group who suffer needless economic hardship from errors without experiencing outright credit denial. Between the two statistics are one hundred million Americans who may be paying premium interest rates as the result of errors; one hundred million Americans who may be paying higher mortgage payments, auto loan payments, and credit card payments. How far does the Fair Credit Reporting Act go to resolve this problem and aid or encourage the credit repair process?

The truth is that the Fair Credit Reporting Act does very little to mitigate the impact of credit reporting issues or support the credit repair process. The average person has difficulty reading a credit report, and beyond the face value of the information on the report lays the vast array of virtually inaccessible legal information that would facilitate their ability to manage the chore of credit repair. This includes the basic guidelines of the Fair Credit Reporting Act itself, reporting period limits, dispute rights, etc., as well as other legislation that may come to bear such as the Fair Debt Collection Practices Act and individual state statutes of limitation.

The complexity of credit repair in and of itself should not be a problem. The tax code is no less difficult and we all manage to get our tax returns done. For that matter, most of us drive automobiles and have no clue about how an internal combustion engine works, much less how to fix one. The real problem is the public perception of the credit repair industry. Imagine if we were regularly persuaded that accountants were unnecessary; how would we get our taxes done? Or if we were told to stay away from auto mechanics; how many of us would be able to repair or maintain our automobiles adequately?

The accuracy of your credit report is important. Your credit score will determine the cost of every dollar you borrow, and its affect will determine the quality of your life. I understand the FTC campaign against bad credit repair operations. And I understand the importance of the media warnings against illegal credit repair schemes. But for all of the good intentions of the FTC, the result of their myopic anti credit repair attitude has been an enormous cost for millions of people that should have been encouraged to seek professional credit repair help.

For all of the bad publicity surrounding credit repair schemes, there are many excellent professional credit repair businesses. The services provided by these credit repair professionals are no less important than services offered by any financial expert and should be sought out by anyone in need of guidance. As important as the FTC warnings against abusive practices may be, it is time for them to acknowledge the good guys that operate in the credit repair field.

Copyright © 2008 Ian Webber. All Content. All Rights Reserved.



Build Wealth!

Some companies advertise that they have a credit report repair Software and also they will teach you credit repair secrets, for a fee of course. There is a lot of free information here, if you know where to look. Before you take a credit repair course or sign up for credit report repair, read the facts and the laws relating to credit repair. In this way you may avoid some disappointment and save some money.

What is credit report repair or software? The best kept “secret” is that creditors and credit reporting agencies (commonly referred to as the credit bureaus) make mistakes. What can you learn in a credit repair course? You can learn the basics of bad credit repair, without paying a penny. If you cannot achieve results on your own, then you may need to hire a credit repair lawyer to help you. If you feel that you have exhausted all of the free options, identify what information that you still need and make sure that the credit repair course or software program that you are considering includes that information.

A secret may be defined as “beyond simple understanding”. Using this definition, credit report program is credit report repair that is beyond ordinary understanding. The average person does not understand how credit scores are calculated. Most people do not know what information is on their credit reports. Many people do not know their rights under the law.

Credit repair is a popular subject. It seems that almost everyone wants learn about credit repair. Books and software programs that claim to contain everything you wanted to know about credit repair are being sold on the internet and in retail locations all over the country. There are some questionable credit repair schemes and some companies suggest action which is illegal. Consumers can learn to repair their own credit, but it takes time and patience. The safest bet when hiring someone to do the work for you is to hire a credit repair attorney. In this way, you can be sure that you will achieve results; they know everything there is to know about credit repair. You can also be sure that a credit repair attorney will not advise you to do anything that is illegal. Most of the popular credit repair lawyers do not charge more than the other credit repair companies and some offer money back guarantees.

The Federal Trade Commission regulates credit repair organizations and states that “certain advertising and business practices of some companies engaged in the business of credit repair services have worked a financial hardship upon consumers, particularly those of limited economic means and who are inexperienced in credit matters.” Under the laws regulating credit repair organizations, any company that advertises secret credit report repair or credit repair in general must provide the consumer with certain information. These regulations do not apply to companies that offer a credit repair course or seminar. Most of these are simply rehashing information that has been available for years. If you look in the public library, you will see that individuals have been writing books about credit report repair for years.

There was an individual who advertised his informational packages on TV. One of his reports was “how to get AAA credit” or something like that. This was not any spectacular secret credit report repair. It was not a credit repair course. He advised consumers to make a $500 deposit into a savings account at any bank. Then, using the deposit as security, apply for a loan. Repay the loan and according to him, you would have great credit. This may be information that the average person does not know. It is similar to the secured credit card programs that so many companies offer. The thing about credit is that, it is harder to get, if you really need it. If you have $500 to deposit into a savings account or a secured credit card program, if you have the money to pay off the debts that you owe, you can improve your credit score over time.

Companies that advertise quick free credit report repair are banking on the theory that you do not know how to review your credit reports for inaccurate information. If you have inaccurate, obsolete, misleading or unverifiable information on your credit reports, then the credit bureaus must delete the information. You must “dispute” the information. In other words, you must notify the credit bureaus about the negative information that needs to be deleted. This is the credit report repair that is often the subject of a credit repair course.



Build Wealth!

Credit repair and Your Payments

You have decided to repair your credit. You need to make sure that all of your payments are made on time from now on. Make sure your finances are organized and that there is enough room in your budget for the occasional unexpected expense. Credit repair requires effort and you don’t want to slip backwards. Credit repair can transform your life; make the right effort and you will be richly rewarded.

Review Your Credit Reports

Get copies of all three of your credit reports. You can get them online at AnnualCreditReport.com for free one time each 12 months. This website is government mandated and is the only place where you can get your reports for free. All of the other websites that advertise free credit reports require you to join a monthly service; there is value in these monthly services, but make sure you know what you are buying. Once you have your reports it’s time to start your credit repair project.

Correct Your Account Limits

Credit repair can be daunting. I suggest you take one manageable step at a time. Begin by proofreading the credit limits on your revolving accounts. A significant part of your credit scores are based on the ratio of your current revolving balances to your credit limits. Many credit card issuers underreport these limits and inadvertently harm your credit scores. Put your credit repair plan into action. If you discover any underreported limits communicate the issue to the creditor and provide a copy of a credit card statement to the credit bureaus.

Eliminate Extraneous Accounts

Examine your reports for extraneous accounts. These can include closed and paid accounts that are reporting as open with balances. You should also look for duplicate accounts. Take your time. Credit repair requires a little patience. A duplicate account with no derogatory information may blend into the background, but can have a negative impact on your credit scores. Duplicate accounts are common occurrences and can be easily rectified with a bit of credit repair. The credit bureaus rather than the creditors most often cause these errors, so a letter to the offending bureau ought to do the trick.

Challenge Collections

The collection industry may be the largest single contributor to credit reporting errors and well worth your credit repair attention. The FTC has made it clear in their elucidation of the Fair Credit Reporting Act that when a collector sells debt to another collector or returns it to the original creditor they should withdraw their reporting of the item. Unfortunately, there is no incentive for compliance and so these erroneous collection accounts continue to report, often for years. Generally speaking, you would be well advised to challenge collections as part of your credit repair project; an easy credit repair task.

Use Debt Validation

If you get a collection letter in the mail open it right away and prepare to respond. For a thirty-day period following receipt of a collection letter you are in the legal drivers seat. Don’t miss this credit repair opportunity. If a stranger knocked on your door and asked for money would you hand it over? I hope not. Don’t give a penny to a collector without validating the debt. You have the right to demand proof from a collector that they have the legal right to collect, and an objective accounting of the amount claimed due; do this within thirty days, and do it in writing.

Know Your Statutes of Limitation

Debts are not collectable forever. If you are embarking on a credit repair effort this is one of the truly important facts to know. Statues of limitation vary based on state and debt type. This information can easily be found on the Internet. Once the statute of limitation has expired a collector can no longer sue you for the debt, and hence cannot get a judgment. Read this credit repair fact carefully. If a debt is beyond the statute of limitation a collector has absolutely no way to enforce collection. This gives you two wonderful credit repair options. You can send them a cease communication letter and you will never hear from them again, or you can contact them to negotiate payment. Once they know you understand your rights they should be happy to settle.

Save for the Future

With all of the effort you are putting into your credit repair project you will want to insure that nothing comes along to send you back to square one. The best credit repair insurance in the world is a healthy saving account. If unexpected expenses arise, and they will, you will not bust your budget if you have some money set aside. Saving also offers some amazing fringe benefits that transcend the obvious, like self-confidence and peace of mind, which can’t be measured, but are definitely priceless. Good luck!

Copyright © 2008 James W. Kemish. All Content. All Rights Reserved.



Create Success!

Improve Yourself With Fast Credit Repair and Rebuild Your Credit

Fast credit repair is manageable but the unimaginable is not going to take place unless you choose to fix it. It actually depends on how bad your credit is or how far behind you are on you mortgage or possibly even struggling to make your credit card payments and it is drastically affecting your credit history. This is not to point out that if your credit is truly bad and it cannot be fixed because in that respect are plenty of services available you can employ to help one self.

It will just take longer and bankruptcy can always be an option if you are in over your head but, keep in mind if you have a home your equity can be applied to receive that loan and this is one of many ideas that can be used to rebuild your credit. If you are searching right now or not able to take action now but want to acquire an advantage by discovering what sort of services that each of these credit companies offer up then by far this is believably your best bet. Fast credit repair may not work here because on that point are some steps to consider depending how bad your credit score is fallen.

Fast credit repair is fundamentally only going to work for people who do not receive credit or a history of credit that is not genuinely all that bad but could use improvement. If you have a couple of credit accounts on your credit file that have been paid on time and so continue to do that, at this point you need to focus on repairing the poor points that demand to be disputed directly. This is particularly true if you are planning on attaining a major purchase within the next year or so and want your credit history to beam for the potential companies who will look at giving you that loan. The sooner you get your scores up, the greater the opportunity of being approved for the credit you require.

If you require help to implement fast credit repair, in that respect are respective methods to repair bad credit. First of all, you can obtain help from a credit repair service. These companies are groomed to know precisely what it will take to raise your score to good levels. One way of managing this is by negotiating a settlement that is lower than the total you really owe and those respective calls made and credit repair letters sent on your behalf will in turn reflect on your credit report and your raised credit score will improve.

Another means to reach fast credit repair for individuals who do not have adequate credit or marginal established credit history may want to see into qualifying for a conventional credit card or loan. A secured card or loan can be applied for at your bank using money that you have in your account and if those monetary funds that you try to spend very little of are lower than anticipated and your debt to income ratio requires some help. Numerous companies have services that will help guide you on the right way to help you fix this dilemma.

Keep in mind that banks use credit reports from the major credit bureaus such as Experian, Equifax, and TransUnion to understand what you the consumer qualifies for. These bureaus will raise your credit score as these payments are produced on time based on the feedback presented by the various companies you established a credit line with. When you are generating more positive marks and so you will wind up with more good credit than bad evidently and in turn your credit score will raise. It is up to you whether you want to try a fast credit repair approach on your own or by using a credit repair company only it really depends on your circumstances. There are different good consumer groups that appear to execute miracles when it adds up to fast credit repair.

One general mistake that numerous people have suffered from is due to bad check writing only it can be fixed by paying back the check amount plus the bank fee for a returned check and sending a letter to that particular company that you have established credit with noting what took place. Another reason for sustaining bad credit are the many unintentional marks that may be reported credit delinquencies on your credit file that do not belong to you although you can handle this yourself or search out the advice of a counselor. And So this is going to require a dispute process in which you tell the credit bureau that you did not possess this debt at this point both you and the credit bureau will launch an investigation into the disputed remarks.

Another significant factor that is more common these days is identity theft. This is why it is really significant to keep up-to-date with your credit history by knowing what your credit score is currently because these terrible activities can ruin your credit to a point that you will spend an eternity trying to rectify. The fast credit repair can be started by numerous reputable companies that may be efficient to assist you with this if the debt is not yours. The debts on your credit report that in reality are not a issue of identity theft but are not yours can be taken care of as well. These are simply a couple of the choices accessible to serve you on the road to fast credit repair therefore if you suffer from a lack of credit or charged with bad credit on that point are numerous options accessible to help either rebuild your credit or generate credit.

If you would like more information on this topic and Consolidate Debt Loans or if you are in need of Consumer Debt Consolidation, Beatlands Credit Repair has many credit repair topics and tips that can be very useful.



Let us teach you how to be successful!

A list of ten credit repair tips follows. This is by no means a complete list, maybe just enough to get you started.

Credit Repair Tip #1 Look for free information before you buy anything. Did you know that the three major credit bureaus, Experian, Equifax and TransUnion, are required to provide consumers with one free copy of their credit report every year? If not, you are not alone. Companies which sell credit reports and other credit repair tips are betting that most people do not.

Credit Repair Tip #2 Visit www.annualcreditreport.com. At this site consumers can view and print the information accumulated by the credit report agencies or credit bureaus. There is no charge for these reports, but the credit bureaus are allowed to promote the products that they sell, such as credit repair tips, on this site. Credit Repair Tip #3 There may be a lot of information on your credit report or just a little, depending on the types of credit that you have and the length of time that you have been using credit. Print the reports out and begin the process of reviewing the information that the credit bureaus have been accumulating about you. Use a yellow highlighter to highlight information that you believe may be inaccurate, misleading or unverifiable. This is information that you will dispute.

Credit Repair Tip #4 One of the credit bureaus has an on-line dispute system, but it is not very user friendly. The window is tiny and in order to read a sentence, you have to scroll from left to right. The best way to notify the credit bureaus of your disputes is to send them a letter. Letter writing suggestions are included in many books with credit repair tips, but you can view a perfectly usable example of a dispute letter at the Federal Trade Commission’s credit website.

Credit Repair Tip #5 Wait.

Credit Repair Tip #6 If you have not received a response from the credit bureau or bureaus within thirty days, send a follow-up letter: “Please remove these items from my credit report immediately. I have waited a reasonable amount of time.”

Credit Repair Tip #7 Wait.

Credit Repair Tip #8 If you receive no response from the follow-up letter, you will need to contact a lawyer, preferably one that specializes in credit repair issues. The credit bureaus are allowed to disregard disputes that they consider frivolous. There are no guidelines for disputes which might be considered frivolous. Credit Repair Tip #9 Sometimes options are recommended which are illegal, such as file segregation. Do not create more problems for yourself.

Credit Repair Tip #10 Visit creditrepairsoft.com for more credit repair tips. This site also shows how different actions affect your credit score.

There are several sources on the internet for credit repair tips. As with most information, there are hundreds of books full of credit repair tips, software programs with credit repair tips and credit repair specialists that charge for their credit repair tips, but there is a lot of free information as well. For more credit repair tips, vistit the Credit Repair Blog at



Are You Looking For A Realistic $250K First Year Income Potential?

(copyrighted)

After twelve years of credit repair, credit score repair and writing credit repair letters to all sorts of creditors, collection agencies and credit bureaus, I realized that it was necessary to provide my services at a serious discount to consumers in need. I realized that not all consumers could afford my credit repair services. As a result, I created a hot line to answer credit repair and credit score questions. However, I noticed that it was becoming an overwhelming task for my staff and at much expense in order to provide the free credit repair services.

A little over two (2) years ago, a couple of my clients suggested I should write a booklet (20 pages) about credit score, how credit score is calculated, what to look for when calculating credit score, what is the best way to repair credit and some of the main topics of credit repair. They suggested I should provide this ebook for a price of $9.95. I thought about doing so for some time as I was thinking that 20 pages of credit repair ebook would not be enough to even touch the surface on so many subjects that needed to be covered. You see the entire idea of credit repair (credit score repair) or credit repair letter writing is not a simple task that even 50 pages would be enough. However, it was also bothering me to charge $9.95 for some limited number of pages.

Then I realized, I could sit and think and continue contemplating about writing a credit repair - fix credit summary pages until I turn blue, or if I truly want to help consumers with their credit repair and credit score issues, I must take a step and start now. That was two (2) years ago.

As I was writing, in August 2006, I realized, we’ll have a major problems with the mortgage loans being granted so easily due to the unethical practices of mortgage lenders, brokers and direct lenders. You must understand this point. For the past eleven (11) years, I was directly involved in assisting my clients get loans after their credit repair was reasonably completed and their credit score was around 740 or higher. Initially, I was just fixing credit and let them enjoy the luxury of such good credit score. However, after communicating with my clients a couple of months later, I noticed that they were getting rubbed by “mortgage brokers” and the so called “Direct Lenders” or even the loan servicing companies. It was unjust then and it continued to be unjust now. Since this is a separate issue of its own, that I must share it with you and teaches you what to watch-out for, I am going to create a separate article about Creditors, lenders, mortgage brokers and the “direct lenders.”

Let’s stick with issue regarding credit repair.

Most consumers fall in the trap of over extended credit when banks and credit cards companies offer one card or loan after another. The consumers think the best way to get-out-of debt is borrowing more. In other words, “steal from Pete to pay Paul.” This is one of the major misconception consumers have that puts them in a deeper debt and causes even more problems for them to the point that they have credit collapse (beyond credit crunch). They experience receiving a lot of called from collection agencies, having late payments, collections and charge off entries on their credit files (credit reports) and their credit score goes down to 400 or 500 level.

As I was typing my so-called ebook (according to push my clients given), I noticed that the summary book was expanding to over one hundred pages and I was not even touching half the issues. Then I decided to continue and make the book a “credit repair” book called “Your Credit = Your Life, Fix It Now!” Since August 2006 realization that we will have mortgage problems, my only option was to inform as many people as I could either by emailing or calling, I was not able to reach all consumers. However, “Your Credit = Your Life…” book addressed all issues.

Other misconceptions consumers have, is the fact that some of them think, a credit repair is a quick fix. They think, they can just wave a magic wand and their credit score will go up from 495 to 720 or more. That’s not how it works. A true credit repair or improvement in credit score takes time (several months to a couple of years). Don’t be fooled by what you hear as quick “credit repair fix.”

In order for you to do self credit repair which is the best method, your must follow several steps. Those steps are lengthy and require patience. It requires dedication, willpower and application of your own gradual experiences. For the past several years, I have a sign on my office door so that everyone can clearly see. I also have the quote on my business cards, letterhead, books I wrote and talk about it repeatedly. It says, “more is lost by indecision than by bad decision.”

Think about it for a couple of second and then relate these words to what has transpired in your life thus far. Just as I was contemplating to write 20 pages for an ebook and sell it for $9.95, I was thinking of two things:

a. It is not possible to write just 20 pages,

b. I wouldn’t have the heart to sell a summary book for $9.95.

I lost the track of my own quote. “More was being lost be my indecision…” I wanted to help teach others how to fix credit; I hired a staff teaching them the credit repair concepts, but wasn’t grabbing my keyboard to type what was in my heart and mind. As my clients were pushing me, I was lost in my indecision.

Most consumers do exactly the same as I did for a couple of months. Think with yourself. How many times were you planning to do something and you kept contemplating if you should do what was in your mind or suggested to you? I bet you did that a few times. I bet part of your problem was the same as mine. Where do I start? How do I approach it? What would be my next step? And, a long list of other questions. You know something. Unless you take the first step, you wouldn’t know what the next step is. Unless you set your goal, mind and heart to take an action, it will never happen. You will contemplate and continue in your indecision yet time passes you by and all you do get deeper and deeper in debt, pay more for simple loans, get drowned in debt to a point that you will take your credit or financial anger on your loved ones. ALL BECAUSE YOU DID NOT MAKE YOUR DECISION IN DOING SOMETHING TO TURN YOUR LIFE AROUND.

My dear friend, stop feeling sorry. Here, I am pushing you to do something. Make a decision and do something about it NOW. It is never a bad idea to have a better credit so that you could have a better life and save more money. It took me several months to prepare the book that offers all you need to know about your credit. Believe me, I have seen so many credit reports that yours would not be half as bad as what I’ve seen. There is hope for everyone, especially you. You only become hopeless when you don’t get up, shack off feeling sorry and do something to turn your credit life around.

Please let it be now. Here are a few steps in what you can do.

1. Get copies of your credit reports. You must obtain recent copies for all three (3) credit bureaus. One credit report won’t do. Why? Different creditors and collection agencies report to different credit bureaus. See the book.

2. Compare each entry shown on your credit reports with the account statements you have. Whether it is an open account, closed account, a collection, a charge off or late payment account. You don’t know how many times, I seen credit reports where the consumer did not have any such account and it was creditor or credit bureaus mistakes. Read the book.

3. When you notice inconsistencies (whether it is an account you don’t recognize or misinformation about an account), call creditors and credit bureaus. Discuss, dispute and be persistent.

4. Ask for a conclusion, removal or correction letter.

5. Do NOT settle with collection agencies. If you do or have no other choice, you must do two things, settle for less or don’t pay unless they agree to correct the entry by removing it.

6. Do not trust a collection agent. They do NOT mean well.

There are so many things to talk about and so many techniques to offer. It is impossible to discuss all in this article. So, I ask you to do something useful and quick to improve your credit score, which is as a result of your steps in your credit repair. You don’t know how good it will do for you.

For a complete details of the list above and other topics use the knowledge base provided at link and pick up a copy of the book “Your Credit = Your Life, Fix It now!”

Best wishes

Mike Samadi

Any questions?  Go to Q & A of www.MasterCreditRepair.net, read and post.  Go to the “Comment” page and post your story or comment.



Let us teach you how to be successful!

Credit Repair Sin #1: Sticking Your Head in the Sand

Have you been through a period of financial stress? Is your credit a mess? It can be difficult to look at the damage, but ignoring your credit report is the number-one worse thing you can do. Did you know that late payments, charge-offs, and collections are almost guaranteed to generate errors that will depress your credit scores even further? It’s ironic that shortcomings in the credit reporting system create a bias against the very consumers who can afford it the least. Fortunately there is good news. It is never too late to stand up for your rights. Take a deep breath and start your credit repair effort today.

Credit Repair Sin #2: Canceling Your Cards

So you decided to start a credit repair program, cut up your credit cards, and make everything right. Right? Sorry. Wrong. As righteous as the plan sounds, there is a flaw. The FICO scoring model puts so much weight on open accounts that even as you remove erroneous items from your credit report your score will go nowhere; it may even fall. If you have open credit cards, don’t close them. Switch gears and get into management mode. Get the balances down, make your payments on time and watch your scores go up.

Credit Repair Sin #3: Failing to Rebuild

It’s common to emerge from a time of financial stress with no open accounts. Many people in this situation begin a credit repair effort and decide to postpone applying for new credit until their report looks better. Who wants to be denied? Why not just wait? Well, there is a reason. As mentioned above, without open accounts your credit repair effort is likely to do little for your credit scores, and you will be no closer to being lender-ready than you were before. You need to rebuild! Just get a couple of secured credit cards. You won’t be denied and you will be on your way to building truly usable credit.

Credit Repair Sin #4: Maxing Out Revolving Balances

You are doing everything right; you cleaned up your credit, you opened new accounts, and you are paying your bills on time. So, why isn’t your credit score cooperating? You may blame an old paid collection or some old public record for keeping your score in purgatory. But you are wrong! It’s just your darn credit card balances. The newest version of the FICO credit score model adjusts your score dramatically depending on the ratio between your balance and your credit limit. If you want to optimize your score keep the balance under 20% of the limit. Just try it and watch the credit repair magic happen!

Credit Repair Sin #5: Ignoring Collection Letters

Got a collection letter? It is tempting to throw it away. But throwing it away won’t make it go away. And if you throw it away you will have missed a golden opportunity to exercise a powerful legal right that exists for just 30 days from the time the collector sends the letter. For those 30 days the Fair Debt Collection Practices Act requires collectors to comply with your request to provide proof of their right to collect and an accounting from the original creditor proving the dollar amount is correct. If they cannot do this they must cease all collection efforts and not report the collection to the credit bureaus.

Credit Repair Sin #6: Not Knowing Your SOL

Statutes of limitation (SOL) limit the time a debt may be collected through the court system. The SOL is different for each state and may be found easily on the Internet. The SOL may be as little as two years for some debt types in some states. If a collector cannot get a judgment they cannot enforce collection. They can ask nicely, or they can threaten, but the threats have no substance. Did you know the Fair Debt Collection Practices Act gives you the right to send a letter to a collector asking them to cease all communication? This is a handy credit repair tool. After all who needs the stress? If you are harassed by a collector beyond the SOL you can send a Cease Communication Letter and they will go away.

Credit Repair Sin #7: Flying Solo

One of the big mistakes people make with credit repair is going it alone. Credit repair is a lot like fixing an automobile. If you need an oil change you can do it yourself and probably don’t need a repair manual or a mechanic. But if you really need a tune-up you better know what you are doing. You wouldn’t just pop the hood and start taking the engine apart. Would you? Credit repair can produce awesome results if done properly, so please do the right thing for yourself and buy a book or consult a credit repair professional.

Copyright © 2007 James W. Kemish. All Content. All Rights Reserved.



Are You Looking For A Realistic $250K First Year Income Potential?

Getting started with repairing your credit is one of the very best things you can do for your financial well being. At the hands of the credit system, you are being abused in the form of inaccurate reporting and an unfair credit scoring model. Through credit repair, you can do your part to make sure you get the credit score you deserve - a credit score that is truly indicative of your credit worthiness.

Choosing the right credit repair company to help you achieve your credit goals is pivotal. What follows are tips and things you should look for when choosing the best credit repair company for you.

1) Look for a credit repair company with experience

An experienced credit repair company will have taken the time to learn what tactics work best for each type of dispute. Having a large number of clients and a track record of removing many items means that a credit repair company has enough information to know what works and what does not.

2) Look for a credit repair company that has been in business for a while

Credit repair, like many other industries, has it’s fair share of scammers. Preying on desperate people who long for a better credit score, fraudulent “credit repair” companies promise amazing results but the only thing they manage to do is take off with your money.

Fortunately, these companies never last very long. They are either run out of town or shut down by the FTC or local law enforcement. What this means for you is that you can usually trust a credit repair company that has been in business for a number of years.

3) Check out the company’s BBB report

To start with, look for the BBB’s rating of the company and their explanation of this rating. For example, the BBB report for the credit repair company Credit Bureau Experts shows the company as having an unsatisfactory rating because of unsubstantiated advertising claims made on their site.

Also look at the number of unresolved complaints to see if the company has been responsive to their customer’s problems. Almost all companies will have some complaints, and the larger the company the more complaints it will have, but it is how they deal with these complaints that is important. Look for a company that addresses the concerns of its clients as opposed to a company like Credit Fix Now (see BBB report) who has an unsatisfactory rating with the BBB for not responding to to complaints.

4) Get the details on the company’s payment policy

A common tactic of fraudulent credit repair companies is to charge you a large fee upfront and then either disappear with your money or otherwise not perform the agreed upon work. Many of the companies have been known to charge several hundred or even thousands of dollars before they will do any credit repair work.

Even though the practice of charging large upfront fees is illegal, there are still a number of smaller credit repair companies that try to get away with it. For example, the companies Credit Clean and Today’s Credit Solutions are perfectly content to charge you one time fees of $1223 and $499.99 respectively for a year’s worth of credit repair service. Granted, these companies may offer money back warranties, but that will be of little use to you if the company goes out of business or otherwise disappears.

5) Watch out for companies that guarantee to raise your credit score

To help protect you against credit repair companies who make impossible claims, the Credit Repair Organizations Act also forbids any credit repair organization from making guarantees about the results of their service when it pertains the the effect it will have on your credit reports.

While searching for a credit repair company, take note of any claims to “increase your credit score by 100 points”, “lower your interest rates”, or “remove all negative items from your credit reports”. No company can legally make these claims and any company who implies they can should be avoided.



Serious Entrepreneurs ONLY Beyond This Point!

Build New Credit Now

The most common credit repair mistake people make is putting off building new credit. If bad financial times have left you without open accounts you must start the rebuilding process now. No matter how successful you are in correcting derogatory items on your credit report if you do not have any open accounts your credit score will not get off the ground. Your credit score is based on both the positive and the negative information on your credit reports. Removing the negative is essential, but without open accounts in good standing the credit scoring formula has nothing to grade you on.

No Excuse for Delay

The logic most people apply in delaying the opening of new accounts as part of a credit repair program is the belief that it would be better to wait. No one wants to get denied. The problem with postponing the task of opening new credit is that it takes time for the new accounts to be an asset. The first few months your new accounts are open will be a drag on your scores. It is best to get started today and to let those new accounts become seasoned. Your credit repair efforts can be very satisfying if you do it right.

Get the Right Type of Credit



If the quality of your credit is not sufficient to be approved for regular credit cards, just get secured cards, they are every bit as valuable for your credit repair efforts. If you are rebuilding your credit from scratch you should get two new secured cards. While we are on the subject it is worth mentioning that not all types of credit are equally beneficial. Focus on building your credit with MasterCard, Visa, American Express, and Discover. Avoid store cards and consumer credit like furniture store loans at all costs when your credit repair project is getting underway. These forms of credit are of questionable benefit and may even depress the scores of those with little credit depth.

Managing Your New Credit

Once you have opened your new credit cards you can pump up your credit repair efforts significantly or you can become your own worst enemy. These new little credit cards can easily make a difference of one hundred points in your scores, in either direction, depending on how you manage them. The FICO scoring formula to a surprising extent hinges on the balances you maintain on your cards. Specifically FICO recognizes card usage in 20% increments. It is handy to be aware that if you want the largest credit repair benefit you should use less than 20% of your available limit. And if you max out one of your new cards you can expect a precipitous breathtaking drop in your scores. If this should happen to you, here is a bit of good news. All you need to do is pay your balances back down again and your score will pop right back up, just as quickly as the creditor reports the new balance to the credit bureaus.

Credit Repair and Installment Debt

Generally speaking, in the long term it is very good for your credit repair efforts to have a balanced mix of credit types. As mentioned above store cards and consumer debt, such as furniture store loans are the exception; if you are making a credit repair effort I suggest you steer clear of these debt types altogether. Once your credit is well established you can feel free to use consumer debt and enjoy the discounts that often come with these new accounts. Automobile loans and mortgages are a healthy counterpoint to well managed revolving debt. From a credit repair perspective both of these credit types should be part of a long term credit building strategy. Unlike revolving debt, which can influence your scores dramatically from month to month in either direction based on your balances, the real impact of these installment loans builds over time as the FICO scoring model give you credit for longevity.

Get Some Credit Repair Help

There are a lot of little details that can make a significant difference in your credit repair success. Unfortunately, not all of these details are a matter of common sense. You need to study up a bit. The credit reporting system and the FICO credit scoring model have evolved into densely complex systems. It is no longer enough to just pay your bills on time and hope for the best. It is not a perfect world and you need to look out for yourself, and it may take some work. Buy a book on credit repair or contact a legitimate credit repair service to light the path for you. You can do it. Good Luck!

Copyright © 2008 Ian Webber. All Content. All Rights Reserved.



Build Wealth!