CREDIT REPAIR SECRETS THAT WILL CHANGE YOUR LIFE!

CREDIT REPAIR SECRETS THAT WILL CHANGE YOUR LIFE!

Credit repair life hacks the banks don't want you to know.

In difficult economic times and with the credit market getting tighter and tighter, it is important to manage your credit and finances very carefully. One of the best ways to do this is to keep track of your credit rating. A key component is your credit score. Your credit history is a wonderful privilege to have and some people take it for granted until it's to a fault late and they have ruined their good credit and commonly individuals find out when they least anticipate it. A good example is when you have applied for a bit of loans because your bills were overdue but realize it is too late. No one plans to destroy their credit but life occurs and we possibly have inconveniences that limit our power to stay above water but know on that point are credit repair services that permit you to modify a terrible situation and avoid bad credit. This is where credit repair help can be handy and in turn your credit score will reflect, if you take it upon yourself to repair your credit because you can't hardly wish it aside because it nevertheless needs fixed. On That Point are many a credit forms available to you inside a credit repair service to service consumers to fix their credit history.

Now, let’s just take you to a journey where not only experienced peoples but beginners can also understand this and can get rid of this problem by themselves.

·      Bad credit loans

One financial mistake and you are down in dumps. It is under no circumstances a very choicest place to be. But only when you hit the rock bottom you realize that there is no way, except the way up. "Way up" not only sounds good, it is good. In the financial sense the 'dumps' is bad credit and the 'way up' is bad credit loans.

Bad credit is related to difficulty in finding loans. The loan market has expanded considerably within the last few years. So has the market for bad credit loans. The implications for the consumer - consumer has the benefit of getting better opportunities for bad credit loans. There is nothing derogatory with the term bad credit when applying for loans. In fact the loan process for bad credit loan is similar to any other loan barring the fact that they are loans for bad credit. While applying for bad credit loan, you need to have a regular income, pay your bills on time and not have a severe debt condition.

Many people do not know what bad credit means. You can practically have bad credit for a simple reason as not keeping on one address for a long time, or not returning a book you borrowed from library, an unpaid parking ticket. It is not restricted to making errors in repayment of loans. Rendezvous with bad credit has become fairly easy these days. There is something called a credit score which sensibly includes all the credit information available about your credit conduct. Credit score exposes all the credit information which gives an idea about the risk involved with a specific person, when he applies for a loan.

·      What is a good credit score

In light of the recent changes in the economic climate, many people are keeping a close eye on their credit score. Lenders are becoming much more cautious about who they are approving for any type of loan and the credit scores are becoming more important than ever. However, it's hard to know what's a good credit score. Many experts don't even agree, so how can you wade through it all and come out ahead?

The credit score range is between 300 and 900, depending on the ratings agency and who is doing the reporting. Of course, the low numbers are bad while the higher ratings are more desirable. These numbers are calculated by looking at the rate of default that appears in your personal financial history. The better your record, the better your score. Most Americans have a FICO score of over 750. Another large group falls between 650-750. Together, about 60% of current records fall within this range. To make this easy to understand, people with credit score ratings of at least 700 only have a 5% chance of defaulting on a loan and are considered a good risk. With a score of 650+, that chance jumps to 15%. While that used to be good enough for many lenders, the financial market is demanding better odds and your chances of obtaining a loan are going to be much better if your score is above 700.

Now that you know what a good credit score is, you can get a better picture of what you need to do to qualify for your loan. Besides the score, you need to be financially stable. A good score won't carry the day if you are out of a job or have a high debt load.

Check Credit Score - And how to raise it If You're too Low?

There are three companies by which you can check your credit score these days, and they are obligated by law to give you one free credit report per year. Once you know this and you have started to inquire about getting your free report you are halfway there. Let's say for instance that your FICO score is below 650. This is a very low score and you will probably not qualify for many different types of loans, especially home mortgage loans and business loans and if you happen by some miracle to qualify for these types of loans your interest rates will be astronomical which means that you will have a huge monthly payment. What are some good tips to get your credit score back to a respectful number again? Lets look at a few basic steps you can begin taking as soon as possible.

The first thing you should do is look through your whole credit payment history as this is the single most important factor at the major credit agencies look at when they determine how high or how low your credit score should be. If you are delinquent on any past payment, the first thing you should do is rectify the payment and make it a point to never be late on one again. You should also think about charging a little less on your credit card every month than you normally would. This will also tell the credit agencies that you were being a lot more mature in the way that you handle credit and they will in turn reward you with a higher FICO score.

Now, when you’ve become an expert in the basics of credit and credit score and about what should be good for you. Let’s begin with the real things that everyone should know and it will help them in long term.

·    Some big credit secrets and how to fix them-That you may not find anywhere else

The best-kept credit secrets are the things that you may or may not have heard before. But I bet you that you have never implemented them or used them to your advantage. Ruining your credit score can happen very easily, so taking all the guaranteed steps to prevent crippling a fruitful financial feature is wise.

ü       This Letter will help you Stop Harassing Creditor Calls & Other Credit Repair Letters That Work

The Fair Debt Collection Practices Act (FDCPA) has a set of rules that determine what can be termed as harassment by the debt collector. Harassment can be either written or verbal. Calling you repeatedly at home or workplace is a form of harassment. Harassing in any form is considered a severe violation of the FDCPA.

According to the FDCPA, the following are considered violations of the Act by the debt collector:

- Harassing by calling repeatedly

- Threatening to use violence

- Using obscene or abusive language

- Calling at workplace

- Calling after you request him not to call

- Calling but not giving the name

- Sending notices that look like court notices

- Publishing a list of consumers who have not paid

- Trying to extract payment over phone

- Giving false identity of being an attorney

But the thing is what should you do stop this. Well there are many ways but the best would be to write a cease letter.

  

Here is a sample;

Sam Consumer

10 Cherry Lane

Flint, MI 10886

January 2, 2010

NBC Collection Agency

1 Main Street

Flint, MI 10887

Dear Sir or Madam:

I am writing to request that you stop contacting me about an account number _______ with

[name of creditor] as required by the Fair Debt Collection Practices Act 15 U.S.C. section

1692c(c). (Note: Delete reference to the Act where the letter is to a creditor instead of to a

collection agency. Some, but not all, state laws prohibit further contact by creditors).

[Describe any harassing contact by the collection agency. If appropriate, provide information

about why you cannot pay the bill or do not owe the money].

This letter is not meant in any way to be an acknowledgment that I owe this money. I will

take care of this matter when I can. Your cooperation will be appreciated.

Very truly yours,

Sam Consumer

ü      The Top Excuses Creditors Accept to Remove Late Payments

o  The absolute easiest way is to wait, unfortunately most people cannot afford to do that and need a quicker way to get their fico score up. The next best method is if it is an old collection account is to negotiate with the collection company. Never pay the full amount and always try to negotiate a educed amount because if you do not pay the collection company does not get paid!

o  You can also try some self help credit repair and attempt to get the late payments off your credit score report. To do this you must first have the old account numbers and the name of the creditor. To get this information you must have a copy of your credit score report.

o  Next draft a credit dispute letter and send it off to each individual credit bureaus that is reporting late pays on your account. Once they receive the credit dispute letters they will require the original creditor to provide proof that the account was in fact late.

If the creditor does not do this within 30 days then the account must be removed from your report, you will get a letter in the mail letting you know the outcome of your dispute. If you have multiple late accounts spread the disputes out over time or the reporting agencies will assume you are doing self repair and block your requests.

o  Requesting an adjustment of goodwill from the original creditor;

A goodwill letter -- or as it is sometimes called, a "goodwill adjustment letter" -- is one good, simple solution you can use to make an official, heartfelt request of your creditor to remove a negative listing from your credit report to fix bad credit.

§  This type of letter differs from a letter to dispute late payments or to dispute billing mistakes. Furthermore, a goodwill letter has a completely different purpose from a credit dispute letter.

§  A goodwill letter allows you to accept the blame for late payments on credit cards, while appealing to the creditor for financial mercy.

§  When sending a goodwill letter your goal is to touch on major points like:

§  Letting them know you are sorry for the late payment, and stay away from confrontational, threatening language. You missed the payment. They didn't.

§  Telling them how much you appreciate their past business, and how you look forward to remaining a long-term customer in the future.

§  Briefly explaining specifics of what happened to cause the late payment: mention your job loss, personal illness, moving to new state and no bank account, you usually pay with online but internet access was down that day due to icy weather, local tornado or flooding cut off roads to post office. Don't make it up. Just state the facts.

§  Referencing positive steps you've now undertaken to prevent such a late payment from happening again in the future. They'll want to know that this is a one-time request. They don't want this to be a regular occurrence.

§  Being direct with your request for them forgiving the late fees by having them wiped from your credit report. Negative credit will do little to improve credit scores. Remove late payments and your credit score will climb.

ü      Real Number of Years for Credit to Drop Off and When Not to Negotiate

§  Credit Accounts

If you have paid off the loan by making regular payments, the information will remain on your credit report for ten years from the last date of the account activity. However, if you have unpaid credit accounts, it can remain on your credit report for seven years beginning from the date the account first became due.

If you have any kind of negative information on your credit report, it will be removed in a couple of years. Once the information is deleted, your credit score will improve and lenders will offer you better interest rates.

§  Tax Liens

If you have not paid your taxes, it will show on your credit report for an indefinite amount of time. The information related to tax liens will be removed only when you pay them. After you settle the balance, the information can stay for seven years.

Other public records such as paid judgments as well as unpaid judgments can remain for seven years from the date they are filed.

§  Collection Account

A collection account is a loan that has been turned over to a debt collection agency. If you do not make payments to the lender, he/she may sell or transfer your loan to a third-party who now has the right to collect money from you. Such information can stay on your credit report for seven years starting from the date the account first became due.

ü      What little phrase to use when disputing on Experian [there are so many options, which is right?]

To increase your Experian credit score yourself the first thing you will need is accurate information on how to dispute your derogatory accounts and a proven method to put into action. This information is available in many online credit repair manuals, many of which cost less then the down payment required by a company. With these manuals you should be looking for a few things. First you will want to make sure the credit guide provides you with letter templates to dispute your accounts, and a step by step plan on what to do before, during and after the first round of disputes.

By choosing the correct guide to raise your Experian credit score you will be on the fast track to a higher credit score and enjoying easily qualifying for lower interest rates on loans.

A brief about dispute letters with sample is in the last section of article

ü      Which Credit Reporting Agency is the most difficult to deal with and why

According to most of peoples experience Equifax and Experian are the most difficult agencies to deal with.

Some history and information about it are;

Equifax has been credited with many technical innovations. In the 1970s, it was one of the first organizations to digitize user records, which was a massive undertaking at the time. For the 21st century, Equifax has set its sights on curbing identity theft, among other things. With the rising number of online transactions and social networks, identity theft has become a real threat in this day and age. Most social networks carry an exhaustive amount of identification information for individuals. To reduce fraud in this digital age, Equifax offers consumer-level fraud mitigation services that track behavioural characteristics to enhance security.

Equifax also has strong roots in marketing tools, with offerings in data analytics and customer engagement. With its user dataset, these marketing tools offer great insight into consumer data and interactions. But its main focus still remains on maintaining consumer credit information and it continually wins awards in the financial sectors.

ü      Which Credit Cards are the slowest to remove errors

There are many cards which are quite slow in removing errors but the slowest are Discover, Amex

Apart from being slow the AMEX credit card also called as American Express is very expensive too.

ü This little trick will boost your score

charge and maintain high balance for 2 months, then pay it ALL off

ü      Credit Cards are the easiest and secured to get begin rebuilding your credit

Some people are hesitant to apply for a Secured business credit card, thinking that in doing so, they are posing themselves as high risk borrowers. Secured credit cards can be used as a stepping stone to a regular, unsecured credit card. Secured business credit card cards are not just limited for those who have bad credit history. secured credit cards are good for those who are discharged bankrupts or for those who want to control their spending a little more carefully. With a secured credit card, your credit limit matches the security deposit you provide. With good payments you can be considered for unsecured credit card offers.

Even better, you don't have to worry about slipping into credit card debt, because of the security deposit. Since you aren't borrowing any money, you can't get into debt. If you default, the lender will use the amount in the security account to pay off the debt and this can result in more damage to your credit rating. Whenever you can make more than the minimum payment, this helps you to avoid extra interest charges that will prolong your indebtedness. Unfortunately, some people are not aware of how long it can take to repay a debt when only paying the minimum each month.

With a secured credit card, you may have to pay a higher than average interest rate, however, this does not mean that the interest charge is outlandish. The best secured credit cards tend to have interest rates that are comparable to many unsecured credit cards. Interest rates can vary considerably from card to card, and the interest rate on a particular card may jump dramatically if the card user is late with a payment on that card or any other credit instrument, or even if the issuing bank decides to raise its revenue. Interest rates for attractive secured cards should not exceed 19%.

When you go in for secured credit cards, you are required to provide a security deposit as a guarantee of payment. A deposit is required before secured credit card providers will issue you a card. This deposit is held in a special savings account. The cash deposit you make will become the credit line for that account. For example, you would deposit an amount into a bank, or with a credit card company, (this can sometimes be as low as $100), and then the amount that you deposited would be your credit limit on the credit card. In addition to putting up a deposit against the credit limit on your credit card, you can also expect to pay a yearly service fee.

By making consistent payments on the card you show the credit card company that you are capable of paying your bills on time. The .

cardholder should ensure that the creditor regularly informs credit-reporting agencies of their payment history. Some financial institutions can arrange for automatic payments to be deducted from the user's bank accounts.

Examples of Credit Cards easiest and secured to get begin with OpenSkycc

SOME MORE SMALL TIPS FOR CREDIT REPAIR

·      Avoid closing credit cards.

 Often times there is a very small balance left over that soon grows into a monster sum after sitting for a few months. That is a worst case scenario, but it does happen very often so it is something to look out for. But another solid reason not to close cards is because often times credit agencies will dock your score for closed cards in your name. It is much better to pay a card off completely and simply discontinue using it by cutting it up and trashing it. This eliminates any purchases on the card and when creditors look at your history they will just see a credit line with a paid down balance. By doing these 3 things you can make a huge difference in your credit score and save yourself in the future.

·      You have far more power than collection agencies.

Collection agencies harass and threaten, but in reality they are more bark than bite. You have to realize that when it comes to collection agencies, the law is on your side. Under different provisions of the FDCPA you can send a "cease and desist" letter and inform collection agencies that they can contact you only through mail. If they continue to call, you have every legal right to sue. Collection agencies are also forbidden from making harassing phone calls, calling you between 9 PM and 8AM, threatening to garnish your wages, seize your property etc. You are also given the right to ask collection agencies for verification of debt. If they can't validate the debt in a timely manner, but continue pursuing collection activities-they are in violation of FDCPA. In a nutshell-you have far more legal power than collection agencies. Learn how to use it.

·      Inquiry with credit provider

Inquire with your credit provider about lowering your interest rate and removing or reducing fees on your card. Everyone should do this and it is very effective. More often then not you will end up getting your interest rate reduced if you have been responsible for the card. A simple call saves a lot of money and anyone can do it. A lower interest rate goes a long way down the road when trying to pay off a card (hopefully you make the full payment every month though).

·      Credit Counselling For Effective Credit Repair

The skill of financial management and budgeting is quite complicated. As with any activity, certain folks are more proficient in this than other people. It is common for everyone to be in debt at some period during their lives. For example, most adults have credit card bills, loans, mortgages, or other financial obligations. If you handle them well, you will be rewarded with an excellent credit score. This will enable you to continue to obtain credit later on. However, if you do not manage successfully, you'll be hindered with a weak score, effectively depriving you of numerous financial opportunities later on. Improving your record will require you to gradually rebuild your rating. To achieve this goal, it is best to go to a credit counselor for assistance.

Creditcounsellingis usually provided by non-profit organizations. However, it is important not to mistake them for credit repair companies operating on a for-profit basis. For your own good, it is recommended that you steer away from those. For-profit companies, most notably those that publicize themselves on the internet, have a negative reputation for being nothing more than frauds. Even if this isn't the case, they probably won't do anything that you couldn't have done on your own anyway. For example, they might instruct you to acquire a copy of your credit report and dispute the negative information on it. Even worse, they might encourage something unlawful, such as using another address in order to obtain a "new" rating.

Unlike for-profit companies which have their own financial agenda, non-profit counselling agencies give you advice. Rebuilding your credit rating is a lengthy process that demands a great deal of patience and discipline. You must recognize this so you don't try to take the easy way out or you will only hurt yourself in the end. Instead of taking the seemingly more convenient path, a counsellor will assist you with making tough decisions and long term plans so you will be able to improve your credit effectively.

Nearly all high-quality counselling organizations offer resources such as financial advice, classes, and educational materials. Counsellors use their expertise to teach you how to make a budget plan and stay with it, which greatly improves your credit record in the long run. Additionally, they may also provide individualized counselling sessions tailored to your needs. These sessions allow you to carefully scrutinize your choices and learn to make smart financial choices based on your own particular circumstances.

Unlike credit counselling organizations which provide individualized services, credit repair companies simply prescribe an impersonal, one-size-fits-all formula for every customer. Any company promising something like that without even bothering to learn anything about your individual situation is deceitful and does not have your best interests in mind. Legitimate credit Counsellors deliver the individualized services that for-profit companies try to get out of.

The best advantage of choosing a credit counselling agency rather than a repair company is that your results will be longer-term. Instead of paying for a quick fix that's devoid of any educational meaning, you'll gain knowledge and learn useful financial skills such as effective budget management and smarter spending habits that you will be able to use for the rest of your life

Ø      Credit repair secrets of some professionals.

Preventing bad reporting on your credit history means you not only pay bills on time but you also take the approach of watching for those unscrupulous businesses pulling your credit for their own reasons. If you notice you've had a pull or "tug" against your credit, call the person up and ask them why they did it. Find out and demand that they stop. Report them. Let others know with a loud voice that these companies are pulling consumer credit without consumer's approval or knowledge.

As with anything, if you don't speak out about these types of things, you can't stop it and no one else can either. However, if you are proactive in putting a halt to credit snooping, you may be surprised to witness a snowball effect where a lot of people come out against the company enraged, and rightfully so, because of the credit snoops.

When you are actively trying to preserve your credit, you'll discover credit repair secrets of the pros that perhaps find some hints and tips you've never thought much about. You can learn little tricks to catching those in the act by having credit alerts placed on your name and social security number and you can discover things to do when you have open accounts that you didn't open.

Today, there are so many ways people can commit fraud and identity theft but you aren't an easy target when you treat your credit like a treasured possession. When it comes down to it, your credit is best served by you when you are actively working to keep it in tact. This takes effort and it takes the initiative ongoing. Otherwise, one of these days, when you need your credit the most, you'll find you are without something that you really do have a desperate need to preserve.

Ø      Credit Repair Dispute Letter - What Is It, And How Can It Help You?

The foundation of all credit restoration services lie in the

value of the credit repair dispute letter. While not readily

known by most average American consumers, you have the right

to dispute any and all information that is listed on your

credit report. This right has been given to all of us

through the Fair Credit Reporting Act and all of its

subsequent revisions and amendments.

There are many permutations that the dispute can take -

but at it's core, it is very simply a challenge filed by

you, ( or by your assign - often times a credit repair

firm or an attorney ) that essentially tells the credit

bureau - " this information is not being reported

correctly".

While most people assume that the credit bureaus ( and there

are three major ones, with a smaller number of less

important, yet still relevant small regional repositories )

have some sort of governmental or official status in

reporting information on you as a consumer, nothing could be

further from the truth! Credit bureaus are simply for

profit, large corporate entities that maintain database

files on American consumers, primarily for the purpose of

selling this information to other large entities who lend us

money.

Do credit dispute letters work?

Absolutely! If they are written correctly, they can be highly effective in removing negative items from your credit reports and fixing bad credit.

Whether you take on a DIY approach or hire a professional credit repair company, you can see positive results as long as you execute the process in the correct way.

To help, we’ve developed a step-by-step guide to dispute letters so that you can optimize your chance for success. After all, disputing errors on your credit report is your legal right. It’s important to go about it in the right manner so that you don’t lose the opportunity to repair your credit using this method.

The credit dispute letter simply leverages the legal rights

that have been given to each of us to ensure fairness in the

credit reporting system. The bureaus are expected to

maintain a high level of accuracy with their data, and as

such, (being that you are expected to be the most familiar

party to your personal financial history) - if errors are

found on your report, the dispute letter seeks to rectify

them through a written notice filed with the appropriate

credit agency.

Can I dispute my credit report online?

Yes, all three of the major credit bureaus (Equifax, TransUnion, and Experian) offer online dispute forms on their websites. However, we highly advise against disputing online because it’s not as effective.

It limits your rights, gives you less control, and you’re doing exactly what the credit bureaus want you to do. You’re playing into their hands and giving them the easy way out when you dispute online.         

Yes, you can still have some success in removing negative items by disputing online. However, it is NOT the best way. Why? The primary reason is that you may inadvertently waive some of your rights under the Fair Credit Reporting Act when you choose to file a dispute online.

Credit repair experts NEVER dispute their clients’ credit reports online. They know it’s a big no-no. Please don’t be lazy if you’re going to repair your own credit; write a dispute letter. That way you can retain copies as proof that you sent the letter.

You should also send it via certified mail and request a return receipt. This also serves as evidence that the letter was received starts the 30-day clock for the credit bureau to investigate the dispute.

Sample Credit Dispute Letter

Below is a sample dispute letter that can be used for an Equifax, Experian, or TransUnion dispute. Please remember that these letters are just examples. They are intended to give you an idea of what a dispute letter should look like and what it should contain.

-----------------------------------------------------------------------------------------------

{Name}

{Address}

{City, St ZIP}

Social Security number: {XXX-XX-XXXX}

Date of birth: {XX/XX/19XX}

Equifax

P. O. Box 740241

Atlanta, GA 30374-0241

01/01/2018

Dear Credit Reporting Agency,

Please provide evidence the following account belongs on my report and that my rights have not been abrogated. In the event that no record exists, please delete this damaging account information.

Account Name

Account #######

Your report or confirmation number (if available).

{Name}

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Free Annual Credit Reports - How to Get Them

 

Reviewing your annual credit reports is essential to ensuring your credit is in good standing and accurately reported. There are three main credit bureaus that store your credit information; Equifax, Experian, and TransUnion. These bureaus don't report your payment history and information; rather they store the information that others report (banks, utilities, etc.).

 

It is important to get your free annual credit report from all three bureaus because they differ slightly in the manner in which they report your information. Often times, the reports are similar, if not identical. However, it can only take one reporting error on any one of the three reports to cause you grief.

 

Getting Your Three Free Reports

 

Under the Fair and Accurate Credit Transactions Act (FACTA), all Americans are entitled to one free credit report from each of the aforementioned credit bureaus. At the least, you should access these three free reports once per year.

 

Other Ways to Get a Free Credit Report From Equifax, Experian, and TransUnion

 

In addition to your guaranteed three free annual reports mentioned above, you can also get a free credit report from the three bureaus when any of the following scenarios occur.

 

You are on welfare.

You were denied credit within the last 60 days.

You are currently unemployed and seeking work within the next 60 days.

You have had your identity stolen and have reported it to the police.

--------------------------------------------------------------------------------------------------------------------------------------------Well these are all the information about credit repairs you need to know but don’t worry I’m not going to just leave you here..

Here is some bonus examples with Web links that will make you even more sharper in this.

 

EXAMPLES:

1.    Credit Repair eBook - Magnify Money

https://www.magnifymoney.com/assets/images/Credit-repair-ebook.pdf

 

2.The Credit Repair Insider Guide | Free eBook - Lexington Law

https://www.lexingtonlaw.com/_src/_pdf/EbookCreditInsider.pdf

 

3. Download your free Credit Repair EBook - Credit-Aid Software

http://www.credit-aid.com/7_simple_things_to_increase_your_credit_score.pdf

 

4.Credit Repair Secrets Banks Don't Want you to know

Section 609 Credit Repair Loophole

https://youtu.be/0KRyipF3Q9w

https://youtu.be/CSOFmdDV1TE

 

5.  The Truth About Credit Repair

Section 604 Secret ways to remove hard inquiries

https://youtu.be/bBxmIzweQVk

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