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•Credit Score Repair Scams
Being in the mortgage business for the past 15 years I get worn out and beat down by fly by night credit repair companies that promise the world. I've heard everything from We can improve your buyer's credit scores by over 100 points in less than 30 days to Our credit repair company removes bankruptcies in no time at all.
With our nation's economy in the toilet, people's debt loads are on the rise. Many people are having problems just making minimum payments. Some aren't even doing that. As a...
•Forget Piggybacking Get a Secured Credit Card Instead
Ever notice how many good things can be ruined by a greedy few? Piggybacking to raise your credit score is one of them.
Before unethical credit repair companies started brokering the rental of authorized user slots on credit cards, piggybacking was a good way to help your children, siblings, or even friends establish a good credit rating.
All you had to do was add them as an authorized user, and your good credit rating would, at least in part, transfer to them. That is, assuming you always...
•Don t Pay for Interest Rate Reductions
With consumers in turmoil over rising credit card interest rates, an old scam is gaining new momentum... so don't get suckered in!
In this scam, either a live person or a pre-recorded message from Easy Financial (or some other business) will call and offer to negotiate a lower interest rate on one or more of your credit cards.
If you're paying 12 to 14%, their promises of 5 to 7% will sound good, especially if you have a large balance. They'll explain how many dollars you'll be saving over...
•Love Marriage and Credit Scores
Credit can play a major part in love relationships, and considering it before you take those vows can prevent future heartaches. Pre-marriage counselors will tell you to come to an agreement about how you'll handle finances, and then stick to the agreement.
That's a good plan for going into the future, but meanwhile, each of you does come into a marriage with your own credit history, and it will affect the success or failure of anything you undertake jointly - such as renting an apartment or...
•More Credit Score Myths
Most of us don't understand or know what makes up our credit score. Your credit score is the most important piece of information in your financial life. Landlords, lenders, insurance companies, electric companies and potential employers all have your credit score under the microscope.
With that being said, you should probably check your credit scores on a regular basis. Check it for errors, potential identity theft and improve your scores over time. The secret to a better credit score is to...
•Rebuilding your credit Where to begin
? If your credit scores have fallen recently it could be the result of events over which you had no control - like being downsized or becoming ill and unable to work. It could mean that you've been living on credit card advances in order to keep going.
It could also mean that your expenses are greater than your current income, so you're charging more and your credit card balances are slowly advancing into the danger zone.
Either way, the path toward great credit scores is to get those debts...
•How long will negative information stay on my credit report
? You know that your credit scores are based on your money management history - and if you're working hard to rebuild your rating, it can be very frustrating to see the same old negative information showing up on your credit report.
Unfortunately, there's not a lot you can do except wait it out. Your new, good habits will show up, and that will help your score, but the old stuff will remain for a while.
A bankruptcy will stay on your credit report for 10 years, which will seem like an...
•Are All Free Credit Report Offers Created Equal
? I recently searched for my free credit report on line and found that there are more than a few programs out there offering it. What i did not know were the differences between them. We've all seen the attention grabbing commercials with the guy in the pirate hat, playing the guitar, driving the jalope. Becuase is credit was wacked, now he's driving off the lot in a used sub compact. I'm referring to the freecreditreport.com ads. A few others have surfaced with Ben Stein as the front man but...
•How to Reduce Your Exposure to Identity Theft
You may not know that you are a victim until you are denied a loan, credit card or anything else the requires a credit report. Suddenly you discover someone has opened accounts in your name and of course not paid them. What could you have done?
BUY A SHREDDER You can find a small easy to store shredder for less that $20 at almost any office supply store. There is no reason not to have one of these. Any document that includes personal information or your Social Security number should be...
•You Need Credit Scores With a Credit Report
I recently logged on to annualcreditreport.com to get my once a year free credit report but to my surprise there were no credit scores. In case you didn't know, everyone is entitled to their free credit report once every twelve months at http://www.annualcreditreport.com/. If you too have been there then you know that your credit report did not come with your credit scores. Just about everyone these days is looking at your credit so shouldn't you know what they are? This magical three digit...
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