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You are in the right place. Below is your FREE 7 power packed e-course lessons which can help in changing your CREDIT LIFE.
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Monday, September 12, 2011
Friday, June 10, 2011
Lesson 1 - Ecourse
Thank you for subscribing to my credit
ecourse! In this ecourse you'll learn all about:
Part 1: First Things First – Your Credit Report
Part 2: FICO and You
Part 3: Next Things Next – Finding Your Score
Part 4: Establishing Good Credit
Part 5: Repairing Your Credit Score
Part 6: Identity Theft and Your Credit
Part 7: Raising Your Credit Score
That being said... Lets get started shall we :)
==================================================
Part 1:First Things First – Your Credit Report
--------------------------------------------------
The very first step you need to take when trying to raise your credit score is to find out what your score is and what it means. Legislation called the FACT Act was passed that allows all Americans to get one free copy of their credit report every year. This report lists all of your debts you’ve had and your payment history on those debts.
It will tell you where you owe money, how much you owe, and how you pay (on time, 30 days late, etc.). All of that information is compiled together and then analyzed.
After the analysis, a number is assigned to you as to what your credit fitness level is. Potential creditors then look at your credit score and decide if you are going to be able to pay back the amount of money you are requesting to borrow.
That’s the short version. Actually, there is much, much more involved in determining your credit score. However, what should be important to you is knowing how to read your credit report and how to raise that score so that you are able to get the things you need. Remember that – the things you NEED, not the things you WANT!
Let’s start with how to get your credit report in the first place. There are three major credit reporting agencies that will offer you the one free credit report you get each year. They are Experian, TransUnion, and Equifax.
Even though you get one free credit report each year, experts suggest that if you are serious about improving your credit score, you need to examine a report from each of the three major credit reporting agencies. This will, however cost you a small fee from the other two, so keep that in mind.
Why do they suggest you have all three? Creditors can pick and choose which credit reporting agency they want to report to. Some will report to all three, but many won’t. You may find that what is included on one report isn’t on another. The reports will have different information because it's a voluntary system, and creditors subscribe to whichever agency they want -- if any at all.
For more information about credit and The Fix My Credit Guide, please refer to my website http://www.goodcreditmatters.info/
Take Care,
Alphonso Smith
Good Credit Does Matter
ecourse! In this ecourse you'll learn all about:
Part 1: First Things First – Your Credit Report
Part 2: FICO and You
Part 3: Next Things Next – Finding Your Score
Part 4: Establishing Good Credit
Part 5: Repairing Your Credit Score
Part 6: Identity Theft and Your Credit
Part 7: Raising Your Credit Score
That being said... Lets get started shall we :)
==================================================
Part 1:First Things First – Your Credit Report
--------------------------------------------------
The very first step you need to take when trying to raise your credit score is to find out what your score is and what it means. Legislation called the FACT Act was passed that allows all Americans to get one free copy of their credit report every year. This report lists all of your debts you’ve had and your payment history on those debts.
It will tell you where you owe money, how much you owe, and how you pay (on time, 30 days late, etc.). All of that information is compiled together and then analyzed.
After the analysis, a number is assigned to you as to what your credit fitness level is. Potential creditors then look at your credit score and decide if you are going to be able to pay back the amount of money you are requesting to borrow.
That’s the short version. Actually, there is much, much more involved in determining your credit score. However, what should be important to you is knowing how to read your credit report and how to raise that score so that you are able to get the things you need. Remember that – the things you NEED, not the things you WANT!
Let’s start with how to get your credit report in the first place. There are three major credit reporting agencies that will offer you the one free credit report you get each year. They are Experian, TransUnion, and Equifax.
Even though you get one free credit report each year, experts suggest that if you are serious about improving your credit score, you need to examine a report from each of the three major credit reporting agencies. This will, however cost you a small fee from the other two, so keep that in mind.
Why do they suggest you have all three? Creditors can pick and choose which credit reporting agency they want to report to. Some will report to all three, but many won’t. You may find that what is included on one report isn’t on another. The reports will have different information because it's a voluntary system, and creditors subscribe to whichever agency they want -- if any at all.
For more information about credit and The Fix My Credit Guide, please refer to my website http://www.goodcreditmatters.info/
Take Care,
Alphonso Smith
Good Credit Does Matter
Lesson 2 - Ecourse
Part 2: FICO and You
--------------------------------------------------
Back in the 1960’s, a company called Fair Isaac devised a unique system to determine the credit worthiness of people who apply for loans. Through a complicated mathematical computation (too complicated for this author!), they were able to study a person’s credit history and assign them a number that would represent how likely it was that they would be able to repay a loan they were applying for.
Fair Isaac sparked a revolution by pioneering credit risk scoring for the financial services industry. This new approach to lending enabled financial institutions to improve their business performance and expand consumers’ access to credit. Today Fair Isaac’s FICO score is widely recognized as the industry standard for lenders.
The FICO score condenses a borrower’s credit history into a single number based on past credit history. Fair, Isaac & Co. and the credit bureaus do not reveal how these scores are computed. The Federal Trade Commission has ruled this to be acceptable. The real truth is that even if we did know, we probably couldn’t calculate it ourselves anyway. Unless, of course, you happen to be a mathematical genius!
Credit scores are calculated by using scoring models and mathematical tables that assign points for different pieces of information which best predict future credit performance. Developing these models involves studying how thousands, even millions, of people have used credit.
Score-model developers find predictive factors in the data that have proven to indicate future credit performance. Models can be developed from different sources of data. Credit-bureau models are developed from information in consumer credit-bureau reports.
Fair Isaac has become so important in the financial industry that their word on your credit has become basically the final word. Why would banks and creditors place so much credibility into one company? The answer is simply because of their proven track record.
For more information about credit and The Fix My Credit Guide, please refer to my website: http://ww http://www.mygoodcreditmatters.com
Take Care,
Alphonso Smith
Good Credit Does Matter
--------------------------------------------------
Back in the 1960’s, a company called Fair Isaac devised a unique system to determine the credit worthiness of people who apply for loans. Through a complicated mathematical computation (too complicated for this author!), they were able to study a person’s credit history and assign them a number that would represent how likely it was that they would be able to repay a loan they were applying for.
Fair Isaac sparked a revolution by pioneering credit risk scoring for the financial services industry. This new approach to lending enabled financial institutions to improve their business performance and expand consumers’ access to credit. Today Fair Isaac’s FICO score is widely recognized as the industry standard for lenders.
The FICO score condenses a borrower’s credit history into a single number based on past credit history. Fair, Isaac & Co. and the credit bureaus do not reveal how these scores are computed. The Federal Trade Commission has ruled this to be acceptable. The real truth is that even if we did know, we probably couldn’t calculate it ourselves anyway. Unless, of course, you happen to be a mathematical genius!
Credit scores are calculated by using scoring models and mathematical tables that assign points for different pieces of information which best predict future credit performance. Developing these models involves studying how thousands, even millions, of people have used credit.
Score-model developers find predictive factors in the data that have proven to indicate future credit performance. Models can be developed from different sources of data. Credit-bureau models are developed from information in consumer credit-bureau reports.
Fair Isaac has become so important in the financial industry that their word on your credit has become basically the final word. Why would banks and creditors place so much credibility into one company? The answer is simply because of their proven track record.
For more information about credit and The Fix My Credit Guide, please refer to my website: http://ww http://www.mygoodcreditmatters.com
Take Care,
Alphonso Smith
Good Credit Does Matter
Lesson 3 - Ecourse
Part 3: Next Things Next – Finding Your Score
-------------------------------------------------
You would think that finding out what your credit score is would be easy. In a way it is, but only because I’ve done my research and you won’t have to spend time surfing websites looking for the ever elusive credit number. It would seem logical to have your credit score appear right on your credit report, but that’s just not the way it is.
At one time, your credit score was a big secret known only to financial companies and banks. With the FACT Act, legislators decided that it was important for individuals to know not only what their personal credit scores are but how they are calculated and how to improve them.
The main company who calculates your credit score is the Field, Isaac Company commonly known as FICO. They invented the concept of the FICO scores so t, The FACT ACThey are the ones who are known as experts in the industry. Before we go into finding your score, let’s look at a few facts about the FICO score.
Essentially, your credit score is simply a snapshot of your credit use -- it's the Cliffs Notes version of seven years of your borrowing history. In many lending situations, the lender bases its decision almost solely on your credit score. Consider your credit score the overall GPA of your borrowing history.
Now, here’s the bad news. If you want to know your actual credit score, you will usually have to purchase it. This can be done in a few ways. You are entitled to one free copy annually in most states.
You can get it from one of the three major credit reporting companies: Equifax, Experian, and TransUnion. The fee isn’t a huge one – usually around $15 or $20. However, if you’re serious about growing your credit score, it’s well worth the money to be financially responsible in the end.
You can also go to http://www.myfico.com/ and get your FICO score directly from them. They will offer you a free 30 day trial membership which will get your credit score right now and then, if you wish to continue the membership, it will update the score as it rises (or, heaven forbid lowers).
For more information about credit and The Fix My Credit Guide, please refer to my website: http://www.goodcreditmatters.info
Take Care,
Alphonso Smith
Good Credit Does Matter
-------------------------------------------------
You would think that finding out what your credit score is would be easy. In a way it is, but only because I’ve done my research and you won’t have to spend time surfing websites looking for the ever elusive credit number. It would seem logical to have your credit score appear right on your credit report, but that’s just not the way it is.
At one time, your credit score was a big secret known only to financial companies and banks. With the FACT Act, legislators decided that it was important for individuals to know not only what their personal credit scores are but how they are calculated and how to improve them.
The main company who calculates your credit score is the Field, Isaac Company commonly known as FICO. They invented the concept of the FICO scores so t, The FACT ACThey are the ones who are known as experts in the industry. Before we go into finding your score, let’s look at a few facts about the FICO score.
Essentially, your credit score is simply a snapshot of your credit use -- it's the Cliffs Notes version of seven years of your borrowing history. In many lending situations, the lender bases its decision almost solely on your credit score. Consider your credit score the overall GPA of your borrowing history.
Now, here’s the bad news. If you want to know your actual credit score, you will usually have to purchase it. This can be done in a few ways. You are entitled to one free copy annually in most states.
You can get it from one of the three major credit reporting companies: Equifax, Experian, and TransUnion. The fee isn’t a huge one – usually around $15 or $20. However, if you’re serious about growing your credit score, it’s well worth the money to be financially responsible in the end.
You can also go to http://www.myfico.com/ and get your FICO score directly from them. They will offer you a free 30 day trial membership which will get your credit score right now and then, if you wish to continue the membership, it will update the score as it rises (or, heaven forbid lowers).
For more information about credit and The Fix My Credit Guide, please refer to my website: http://www.goodcreditmatters.info
Take Care,
Alphonso Smith
Good Credit Does Matter
Lesson 4 - Ecourse
Part 4: Establishing Good Credit
--------------------------------------------------
So you don’t have any credit to speak of, but you have big plans for the future. Maybe you’re a fresh college graduate or a young person eager to buy your first new car.
If you have never had to use credit before, first of all BRAVO! Of course, it’s best to pay cash for the things you need so that you don’t have to worry about credit card payments, loan payments, or interest rates.
But if you’re young, the chances of you needing credit in the future are very real. Someday you might want to buy a house. Perhaps you’ll want to buy a new car.
Chances are pretty good that you won’t have the cash outright to buy these high ticket items which mean you’ll need credit. Plus, it’s always good to have a little credit since many utility companies will look at your credit to turn on your power bill, for example, without a deposit of some type.
One great way to start establishing credit is to apply for a store credit card (Sears, JC Penney, etc.). Once you get the card, make a few small purchases and pay them off completely. Do this a few times over the course of a year and you’ll find yourself with some established credit with an excellent payment history. DO NOT go overboard and buy more than what you can pay for, though.
You can also apply for a secured credit card. These cards ask that you place a certain amount of money in your account for which you will receive a charge card. Then you can make purchases up to the amount of money that is in your account. Credit reporting agencies treat these cards just like regular credit cards and look to them as a responsible way for you to establish a good credit history.
You will have to have a checking account to establish credit. This lends to your credibility with lenders and shows that you are able to manage your money effectively.
When applying for a credit card of any type, be sure to ask if they report to any of the credit reporting agencies. As we’ve said before, they are not required to do so, and if they don’t, having one of these cards or loans won’t do you a lick of good even if you do make your payments on time.
For more information about credit, and The Fix My Credit Guide,please refer to my website: http:www.mygoodcreditmatters.com
Take Care,
Alphonso Smith
Good Credit Does Matter
--------------------------------------------------
So you don’t have any credit to speak of, but you have big plans for the future. Maybe you’re a fresh college graduate or a young person eager to buy your first new car.
If you have never had to use credit before, first of all BRAVO! Of course, it’s best to pay cash for the things you need so that you don’t have to worry about credit card payments, loan payments, or interest rates.
But if you’re young, the chances of you needing credit in the future are very real. Someday you might want to buy a house. Perhaps you’ll want to buy a new car.
Chances are pretty good that you won’t have the cash outright to buy these high ticket items which mean you’ll need credit. Plus, it’s always good to have a little credit since many utility companies will look at your credit to turn on your power bill, for example, without a deposit of some type.
One great way to start establishing credit is to apply for a store credit card (Sears, JC Penney, etc.). Once you get the card, make a few small purchases and pay them off completely. Do this a few times over the course of a year and you’ll find yourself with some established credit with an excellent payment history. DO NOT go overboard and buy more than what you can pay for, though.
You can also apply for a secured credit card. These cards ask that you place a certain amount of money in your account for which you will receive a charge card. Then you can make purchases up to the amount of money that is in your account. Credit reporting agencies treat these cards just like regular credit cards and look to them as a responsible way for you to establish a good credit history.
You will have to have a checking account to establish credit. This lends to your credibility with lenders and shows that you are able to manage your money effectively.
When applying for a credit card of any type, be sure to ask if they report to any of the credit reporting agencies. As we’ve said before, they are not required to do so, and if they don’t, having one of these cards or loans won’t do you a lick of good even if you do make your payments on time.
For more information about credit, and The Fix My Credit Guide,please refer to my website: http:www.mygoodcreditmatters.com
Take Care,
Alphonso Smith
Good Credit Does Matter
Lesson 5-Ecourse
In this ecourse you'll learn all about:
Part 1: First Things First – Your Credit Report
Part 2: FICO and You
Part 3: Next Things Next – Finding Your Score
Part 4: Establishing Good Credit
Part 5: Repairing Your Credit Score
Part 6: Identity Theft and Your Credit
Part 7: Raising Your Credit Score
That being said... Lets get started shall we :)
==================================================
Part 5: Repairing Your Credit Score
--------------------------------------------------
Don’t despair if you find yourself with a less than desirable credit score and credit history. You are human and can make mistakes. It’s natural. The key to this is recognize that your spending habits are out of control, your credit has been damaged, and then vow to never get yourself back in the same situation after you have gotten your credit repaired.
First, get your credit report. Get one from all three agencies. You get one free and then you’ll probably have to pay around $10 a piece for the other two. It’s important to get reports from all three agencies so that you have a full picture of your credit history.
Some companies only report to one agency. Some report to all three. But if you are committed to repairing your credit, you need all three so that you don’t miss anything.
Then go over those credit reports carefully. See the section above on how to read these credit reports. Check to see that there are no errors such as a bill you’ve paid but that is still being shown as owed.
People at credit bureaus are human too and make mistakes just like you and I. If you don’t call attention to these mistakes, no one else will. We’ll cover correcting those mistakes a little bit later.
The next part involves pulling out those accounts that are delinquent and making a re-payment plan. Unless you are declaring bankruptcy, you’ll still need to pay your debts and doing so can go a long way towards improving your credit history. Creditors will see that you are doing the best you can to get back on your feet and this improves your credibility.
If all the bills are too overwhelming for you to consider paying back at once, just concentrate on one at a time. Break them into pieces, contact the company and let them know you are trying to come up with a repayment plan and if there’s anything they can do to help you out.
These companies really just want their money in the long run, so they are going to be willing to help you. Once that company is paid off, move on to the next one until everyone is paid off.
For more information about credit, please refer to my website: http://www.mygoodcreditmatters.com/
Take Care,
Alphonso Smith
Good Credit Matters
Part 1: First Things First – Your Credit Report
Part 2: FICO and You
Part 3: Next Things Next – Finding Your Score
Part 4: Establishing Good Credit
Part 5: Repairing Your Credit Score
Part 6: Identity Theft and Your Credit
Part 7: Raising Your Credit Score
That being said... Lets get started shall we :)
==================================================
Part 5: Repairing Your Credit Score
--------------------------------------------------
Don’t despair if you find yourself with a less than desirable credit score and credit history. You are human and can make mistakes. It’s natural. The key to this is recognize that your spending habits are out of control, your credit has been damaged, and then vow to never get yourself back in the same situation after you have gotten your credit repaired.
First, get your credit report. Get one from all three agencies. You get one free and then you’ll probably have to pay around $10 a piece for the other two. It’s important to get reports from all three agencies so that you have a full picture of your credit history.
Some companies only report to one agency. Some report to all three. But if you are committed to repairing your credit, you need all three so that you don’t miss anything.
Then go over those credit reports carefully. See the section above on how to read these credit reports. Check to see that there are no errors such as a bill you’ve paid but that is still being shown as owed.
People at credit bureaus are human too and make mistakes just like you and I. If you don’t call attention to these mistakes, no one else will. We’ll cover correcting those mistakes a little bit later.
The next part involves pulling out those accounts that are delinquent and making a re-payment plan. Unless you are declaring bankruptcy, you’ll still need to pay your debts and doing so can go a long way towards improving your credit history. Creditors will see that you are doing the best you can to get back on your feet and this improves your credibility.
If all the bills are too overwhelming for you to consider paying back at once, just concentrate on one at a time. Break them into pieces, contact the company and let them know you are trying to come up with a repayment plan and if there’s anything they can do to help you out.
These companies really just want their money in the long run, so they are going to be willing to help you. Once that company is paid off, move on to the next one until everyone is paid off.
For more information about credit, please refer to my website: http://www.mygoodcreditmatters.com/
Take Care,
Alphonso Smith
Good Credit Matters
Lesson 6- Ecourse
Part 6: Identity Theft and Your Credit
--------------------------------------------------
Criminals know the way to steal your identity, and the worst part is that it’s not all that difficult. You know all those credit card applications you get in the mail? If you don’t shred them, they can use that to steal your identity.
It’s not above them to sift through garbage just to obtain a social security number or a driver’s license number. Once they have these vital bits of information, it’s easy for them to steal your identity.
What they will do is scary. They will apply for credit cards in your name and max them out within days. They will obtain loans in your name and never make a payment. Then the loan company comes after you for the money. It’s something that affects millions and millions of people each year and it can be a real mess when it comes to your credit report.
As many as 85 percent of all identity theft victims find out about the crime only when they are denied credit or employment, contacted by the police, or have to deal with collection agencies, credit cards, and bills.
A study on the aftermath of an identity theft by the nonprofit Identity Theft Resource Center found that victims spend 600 hours recovering from the crime because they must contact and work with credit cards, banks, credit bureaus, and law enforcement. The time can add up to as much as $16,000 in lost wages or income.
The number of reported cases of identity theft is increasing steadily. There is no one reason for this, but rather this is due to several ways in which our lives have changed in recent years, all of which make it easier for people to obtain our personal information.
In the United States, Social Security numbers are used more commonly as a means of identification. The Internet has made the transmission of personal information easy and, at times, less secure. Online retailers store our credit card information and contact information in databases we assume to be secure.
Marketing databases not only contain personal information, but they aggregate information on our spending habits as well as contact information. But potentially nefarious employees of these companies could have access to that information. They can then sell it online in chat rooms where criminals meet to swap information.
For more information about credit and The Fix My Credit Guide, refer to my website:
http://www.mydebtcreditrepair750.com
Take Care,
Alphonso Smith
Good Credit Matters
--------------------------------------------------
Criminals know the way to steal your identity, and the worst part is that it’s not all that difficult. You know all those credit card applications you get in the mail? If you don’t shred them, they can use that to steal your identity.
It’s not above them to sift through garbage just to obtain a social security number or a driver’s license number. Once they have these vital bits of information, it’s easy for them to steal your identity.
What they will do is scary. They will apply for credit cards in your name and max them out within days. They will obtain loans in your name and never make a payment. Then the loan company comes after you for the money. It’s something that affects millions and millions of people each year and it can be a real mess when it comes to your credit report.
As many as 85 percent of all identity theft victims find out about the crime only when they are denied credit or employment, contacted by the police, or have to deal with collection agencies, credit cards, and bills.
A study on the aftermath of an identity theft by the nonprofit Identity Theft Resource Center found that victims spend 600 hours recovering from the crime because they must contact and work with credit cards, banks, credit bureaus, and law enforcement. The time can add up to as much as $16,000 in lost wages or income.
The number of reported cases of identity theft is increasing steadily. There is no one reason for this, but rather this is due to several ways in which our lives have changed in recent years, all of which make it easier for people to obtain our personal information.
In the United States, Social Security numbers are used more commonly as a means of identification. The Internet has made the transmission of personal information easy and, at times, less secure. Online retailers store our credit card information and contact information in databases we assume to be secure.
Marketing databases not only contain personal information, but they aggregate information on our spending habits as well as contact information. But potentially nefarious employees of these companies could have access to that information. They can then sell it online in chat rooms where criminals meet to swap information.
For more information about credit and The Fix My Credit Guide, refer to my website:
http://www.mydebtcreditrepair750.com
Take Care,
Alphonso Smith
Good Credit Matters
Lesson 7- Ecourse
Thank you for subscribing to my credit
ecourse! In this ecourse you'll learn all about:
Part 1: First Things First – Your Credit Report
Part 2: FICO and You
Part 3: Next Things Next – Finding Your Score
Part 4: Establishing Good Credit
Part 5: Repairing Your Credit Score
Part 6: Identity Theft and Your Credit
Part 7: Raising Your Credit Score
That being said... Lets get started shall we :)
==================================================
Part 7: Raising Your Credit Score
--------------------------------------------------
Let’s say you want to buy a house but your credit score is somewhere around 675 instead of 720 which will get you the best rate on a home loan. If you want to raise your credit score quickly, there are some steps you can take that can guarantee a great home loan or any other credit line for that matter.
The mantra for getting a great score is pay your bills on time, keep account balances low, and take out new credit only when you need it. People who do that faithfully have very high scores. It usually means you're being conservative and cautious about credit.
It's not a toy and it shouldn't be a hobby.
That's good advice, to be sure, but these actions take a long time. What if you're house hunting and you just need a few extra points to bump you over the line to the great rates? As we’ve said before, the first place to start is with your credit report. Check it over and find out what your credit score is right now.
You will want to concentrate mostly on correcting any errors by taking the steps we’ve outlined above. Look for errors such as accounts that aren't yours, late payments that were actually paid on time, debts you paid off that are shown as outstanding, or old debts that shouldn't be reported any longer. Negatives are supposed to be deleted after seven years, with the exception of bankruptcies, which can stay for as long as 10 years.
After repairing errors, the fastest route to a better score is paying down balances on credit cards. There's really no silver bullet, but over 60 day’s time, it is possible to increase your score 20 points by paying down your credit lines.
Had a few late payments in your past? If you find yourself in some financial difficulties, you can protect your score by making sure your payments don't go 60 days past due. Some lenders don't report 30 days past due, but they all report 60 days past due.
Even if you've paid your bills late in the past, you can improve your credit score by paying every bill on time from now on. Forget about grace periods. If you want to have a really good record with the credit agencies, pay your debt before it's due and keep your balances low.
For more information about credit and The Fix My Credit Guide, please refer to my website:
http://www.debt-creditrepair750.com
Take Care,
Alphonso Smith
Good Credit Does Matters
ecourse! In this ecourse you'll learn all about:
Part 1: First Things First – Your Credit Report
Part 2: FICO and You
Part 3: Next Things Next – Finding Your Score
Part 4: Establishing Good Credit
Part 5: Repairing Your Credit Score
Part 6: Identity Theft and Your Credit
Part 7: Raising Your Credit Score
That being said... Lets get started shall we :)
==================================================
Part 7: Raising Your Credit Score
--------------------------------------------------
Let’s say you want to buy a house but your credit score is somewhere around 675 instead of 720 which will get you the best rate on a home loan. If you want to raise your credit score quickly, there are some steps you can take that can guarantee a great home loan or any other credit line for that matter.
The mantra for getting a great score is pay your bills on time, keep account balances low, and take out new credit only when you need it. People who do that faithfully have very high scores. It usually means you're being conservative and cautious about credit.
It's not a toy and it shouldn't be a hobby.
That's good advice, to be sure, but these actions take a long time. What if you're house hunting and you just need a few extra points to bump you over the line to the great rates? As we’ve said before, the first place to start is with your credit report. Check it over and find out what your credit score is right now.
You will want to concentrate mostly on correcting any errors by taking the steps we’ve outlined above. Look for errors such as accounts that aren't yours, late payments that were actually paid on time, debts you paid off that are shown as outstanding, or old debts that shouldn't be reported any longer. Negatives are supposed to be deleted after seven years, with the exception of bankruptcies, which can stay for as long as 10 years.
After repairing errors, the fastest route to a better score is paying down balances on credit cards. There's really no silver bullet, but over 60 day’s time, it is possible to increase your score 20 points by paying down your credit lines.
Had a few late payments in your past? If you find yourself in some financial difficulties, you can protect your score by making sure your payments don't go 60 days past due. Some lenders don't report 30 days past due, but they all report 60 days past due.
Even if you've paid your bills late in the past, you can improve your credit score by paying every bill on time from now on. Forget about grace periods. If you want to have a really good record with the credit agencies, pay your debt before it's due and keep your balances low.
For more information about credit and The Fix My Credit Guide, please refer to my website:
http://www.debt-creditrepair750.com
Take Care,
Alphonso Smith
Good Credit Does Matters
Thursday, March 24, 2011
College students are running up an alarmingly large amount of credit card debt these days and it is only increasing with the passage of time. The average undergraduate student carries $2,500 in credit card debt and by the time they graduate from college, they are beginning their new lives in the "real world" with debt that they can't pay.
And the worse part about college students having so much credit card debt is that it takes so long to pay it off. Even if they are able to make the minimum payments, by sticking to minimum payments it would take a student more than 12 years and $1,115 in interest to pay off a $1,000 bill on a card with an 18 percent annual rate. If students fall behind in their payments, they get slammed with high late fees. And it's easy for things to get out of hand.
Armed with the right information, many students are able to establish credit and steer clear of card debt. Even though college students do carry credit card debt, 54 percent of college students pay off their credit card balances every month. Most tend to be responsible and use the card wisely.However, some of them aren't and they're getting into trouble.
If a person makes it through 18 years of life without any financial wherewithal, it's very difficult to change their behavior and that's why it's so important that parents speak to their children about money management. To keep a college student out of credit card debt, the key is teaching students money management skills before handing them a credit card.
Parents should beware of putting their college student on their own credit cars as an authorized user as the same debt can pile up under the parents' names and cause some serious credit problems.
When it comes to credit repair when you have found yourself in a bad credit situation, self-help might be the best route for you to go. It seems we are bombarded daily and often with companies who claim that they can help you repair your credit for a small fee and you won't have to worry about it at all.
The truth is that self help credit repair is not only possible, but really the way to go.
After you get your credit reports, the next self help step is to go through those reports and check to see that the information is accurate. Most of the time, there are going to be errors of some type. These errors can vary from a past due account that has been paid off to a debt that wasn't yours in the first place.
If you find errors, you need to contact the credit reporting agency both by phone and in writing. You'll be asked to provide proof of the error and then they, in turn are required to notify you in writing of their decision to either remove it from your credit report or leave it due to insufficient proof. Be diligent in this endeavor.
An acomplished self help credit repair program entails being aggressive when it comes to your information and the accuracy of that information.
Another part of a self help credit repair program includes the development of a long-term plan that will help you keep your credit use under control and a plan for not getting into credit problems again. Sure, credit counselors can help you do this, but why pay the money and take the chance that you are dealing with a less than reputable company?
Do a little research and you'll find that there is plenty of information available on the Internet as well as software programs that can help you with your self help credit repair program. Repairing your credit yourself requires a commitment on your behalf, but in the long run, you'll be pleased with the results and knowing that you did it yourself!
And the worse part about college students having so much credit card debt is that it takes so long to pay it off. Even if they are able to make the minimum payments, by sticking to minimum payments it would take a student more than 12 years and $1,115 in interest to pay off a $1,000 bill on a card with an 18 percent annual rate. If students fall behind in their payments, they get slammed with high late fees. And it's easy for things to get out of hand.
Armed with the right information, many students are able to establish credit and steer clear of card debt. Even though college students do carry credit card debt, 54 percent of college students pay off their credit card balances every month. Most tend to be responsible and use the card wisely.However, some of them aren't and they're getting into trouble.
If a person makes it through 18 years of life without any financial wherewithal, it's very difficult to change their behavior and that's why it's so important that parents speak to their children about money management. To keep a college student out of credit card debt, the key is teaching students money management skills before handing them a credit card.
Parents should beware of putting their college student on their own credit cars as an authorized user as the same debt can pile up under the parents' names and cause some serious credit problems.
When it comes to credit repair when you have found yourself in a bad credit situation, self-help might be the best route for you to go. It seems we are bombarded daily and often with companies who claim that they can help you repair your credit for a small fee and you won't have to worry about it at all.
The truth is that self help credit repair is not only possible, but really the way to go.
After you get your credit reports, the next self help step is to go through those reports and check to see that the information is accurate. Most of the time, there are going to be errors of some type. These errors can vary from a past due account that has been paid off to a debt that wasn't yours in the first place.
If you find errors, you need to contact the credit reporting agency both by phone and in writing. You'll be asked to provide proof of the error and then they, in turn are required to notify you in writing of their decision to either remove it from your credit report or leave it due to insufficient proof. Be diligent in this endeavor.
An acomplished self help credit repair program entails being aggressive when it comes to your information and the accuracy of that information.
Another part of a self help credit repair program includes the development of a long-term plan that will help you keep your credit use under control and a plan for not getting into credit problems again. Sure, credit counselors can help you do this, but why pay the money and take the chance that you are dealing with a less than reputable company?
Do a little research and you'll find that there is plenty of information available on the Internet as well as software programs that can help you with your self help credit repair program. Repairing your credit yourself requires a commitment on your behalf, but in the long run, you'll be pleased with the results and knowing that you did it yourself!
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