Saturday, November 1, 2008

Tips To Repair Your Credit

Want to try and want to know how? How to repair your credit?

When someone applies for a loan, a credit card, life insurance, an apartment, or to even apply for a job, your credit report is checked. Your credit report is a blue print for your financial behavior. It contains a history of how one pays their bills and how responsible that person is when handling finances. Not all persons can check your credit history; only a legitimate business like a bank, a retailer, a landlord, the IRS, the court, licensing agencies, or an employer can do so.

If someone has a lousy credit report, it can keep him/her from getting a job or even a promotion. If you have a bad credit history, clean it up. Prove that you have taken care. People will want to do business with you. Here are few tips to clean up your credit history:

* Understand the Fair Credit Reporting Act: This Act gives you the right to see what is in your credit report and dispute any inaccuracies. If you see inaccuracies, it must be investigated and corrected if they are wrong. One can write a statement up to 100 words to explain your case.

* Reporting to Credit Bureaus: The three credit bureaus hold reports for more than 150 million people and one can contact them individually for their personal credit report. The phone numbers and websites are given below:

Equifax 1-800-685-1111
Experian 1-888-397-3742
TransUnion 1-800-916-8800

* Correct Errors: When you get a report and find that there is an error such as an account that’s not yours, a payment that was never received, or a typo. The credit report has a complete set of instructions as to how to report the error. It is between the bureau and the creditor who reported the data to correct the error when it is wrong. You will get a written reply within four weeks.

* Validate Your Case: Validate your case by providing reasons for falling behind on your payments, such as a job loss, serious illness, divorce, death in family, stolen identity, natural disaster, or any other compelling reason that you may have. You can also insert a 100 words statement in the report to substantiate your case. The bureau can help you write this statement. The bankers and creditors will know that you are not a reckless person and that you do care.

* Seek Help: If you owe a huge some of money to different credit cards or loans and if you are unable to manage your finances, contact a debt settlement company such as, who are pioneers in debt settlement, debt reduction, and debt negotiations. They can reduce and settle your debt by 30-80% depending upon the type of card or loan you have.

Article Written by Naz

Tuesday, October 28, 2008

You want to Solve Your Debt or Not?

So, how to do that and how its works?

Now's the time to devise a spending plan that reduces your debt and sets you up to pay on time, every time. If you're having difficulty making payments, be proactive. Call your creditors and negotiate to keep your accounts current and from being reported as delinquent or "bad debt." You can ask for reduced monthly payments or even change due dates to balance out your monthly bills.

The same strategy can be used for fixed-loan payments. Remember, though, that this is a short-term strategy. You'll pay more interest to extend the repayment schedule, but it allows you to stay current and save your credit rating. Use the extra money to pay off debts one at a time, gradually increasing payments to other debts.

Deal with any collection accounts. Unpaid collections are worse than paid collections. You can negotiate a payoff settlement that reduces your bill, plus demand that all derogatory remarks are removed from your credit report or at least reported as paid in full. Be sure to get all agreements in writing before sending off your payment.

Ps: Sometimes, you will feel hard. But its better you try it than not doing anything right?

Saturday, October 25, 2008

Debt, Credit and Solution

This is 5 Step that can help you improving your Credit Rating.

1. Order your credit reports.
2. Examine your reports carefully.
3. Double-D strategy -- dispute and document.
4. Solve and dissolve debt.
5. Add stability to your credit file.

Ps: Please think without think how you want to waste your money. This is nice solution that might be can help.