Click here to view interesting blogs to help you begin your path to credit repair!
November 2010
Jumpstart the credit repair process
The following is an article recently posted in Ezine Articles I thought you might enjoy… In this world where money makes the world go round, it is of the essence that you maintain good credit. It is understandable, of course that you incur expensive spending here and there. Life, after all, is short and you are entitled to enjoy the things you like while you still can. But this doesn’t mean that you shun all cautiousness when it comes to handling money. In fact, in order to get the best deals in life’s most important offerings, you need to pay full attention to your finances. If you know that your credit is on the downside at this very moment, then you should […]
September 2010
FICO showing fewer car loan defaults
It’s true, new car loan defaults are decreasing! It’s also true it doesn’t take much of a rocket scientist to understand that by tightening down the lending criteria for consumers looking for new auto loans this would be an expected result. There are some interesting facts. Taking a look at the 720 credit score plus category FICO reports that in the May to June 2009 period 1 out of every 411 borrowers went 60 days or more past due on their new car loan payment. During the same time period in 2008, 1 out of 288 fell past due in the second year which is a 43% reduction. If you look at the same time periods but in the credit score range or 300 to 599 you’ll find almost an 11% 60 day delinquency rate for new car loans during the period ending April 2009 and a huge reduction down to 8% for the same period ending 2010. […]
August 2010
Small Business lending getting easier?
According to the Federal Reserve the lending to small business those companies with under 50 million in annual sales is getting easier for the first time since the latter part of 2006. The big banks and financial institutions are loosening the purse strings but smaller banks are still locked down and it can be very difficult to obtain small commercial financing. The divide between lenders and borrowers is a huge blockade to help the economy recover mostly because of the new definitions of what is considered “creditworthy”. A good creditworthy small business just a few years ago can now be considered high risk and no longer a candidate for financing that would insure or help the growth of that company. […]
July 2010
Dancing in the Rain
Life can be down right miserable when you are traveling through a financial storm! Many people have done all the right things like paying their bills on time, living within their means, putting aside money for a rainy day and yet they still experience life. I don’t know if a statistic exists for this next statement but I’d venture to say a high percentage of people at one point or another are thrown a curve ball in the game of life. At least when it comes to their financial well being. This set back occurs even though they did not plan on it, cause it, nor want it to happen. Many of the stories of this hardship that I’ve heard simply come in different shapes and sizes but ultimately loss of job, a medical hardship, business failure, or divorce rank in the top few as the reasons people enter that financial storm. […]
June 2010
Credit Repair? Anyone can do it!
Credit repair is absolutely boring, tedious, monotonous, tiresome, troublesome as well as down right infuriating! Oh, and did I mention you’d better be “Johnny on the spot” when it comes to follow up and knowing what the rules of engagement are when it comes to the credit bureaus! Are you having fun yet? I get a kick out of the folks that say you can do this yourself. The truth is you can but the better question might be “should you try and perform credit repair yourself?”. […]
Does bad credit cost me money?
Really, the better question should be “How MUCH does bad credit cost you? In a word…TONS! Your FICO scores are determined by a number of things but most importantly how timely your credit is paid and the overall amount of credit used as compared to your credit lines available. Of course other factors come into play but these two play the most significant in determining your credit score. Your credit score for many lenders is the biggest factor if your loan will be approved at all and at what interest rate. To give you an example I was speaking to one of our members and he was telling me he had a credit score of 552 and over the last few months had increased his scores to 632. At first you might say not to shabby, an 80 point increase. I agree, an 80 point credit score increase is nothing to sneeze at and certainly looks like some solid credit repair has been under way! […]
Have you heard about our Fan page?
That's right I've held off and at times have been accused of being stubborn (of course that is just one woman's opinion! :) ) but we can no longer wait nor deny that Facebook is right behind google for taking over the world! Ok ok, maybe yes and maybe no, but I do know this... [...]
Can the Credit Bureaus be revamped?
In today’s market place there are three major credit bureaus: Equifax, Experian and Transunion. You’ll also find many smaller agencies that act as “affiliates” of one of the big 3 like CSC and CBCInnovis or others that service their local geographic area but have less than complete national coverage. There are other companies like ChoiceData that act as sales agents that sell credit data that is supplied by one of the big three credit bureaus. In addition, many companies like Credco and Kroll actually a whole army of these type companies act as a “broker” buying and selling your credit data. Finally, other companies are consumer reporting companies as defined by federal law but let’s not confuse these with CREDIT reporting agencies. Companies like LexisNexis and Intelius are in this category. Now this can become quite confusing and quite frankly seem like a pretty crowded market place but follow me on this point… […]
May 2010
Can you legally remove a bankruptcy with credit repair?
This question came in recently from Janice and I started to send a reply to you but decided I’d address this in the blog for all to read. Janice, I thank you for sending in this question as many people wonder the same thing. Of course, you can insert foreclosure, tax lien, judgment, collections, slow pays, repossession, and the whole list of bad credit issues one might face to the question “Can you legally take a bankruptcy off a credit report?”. The short reality is every single entry on your credit report is suspect. The Fair Credit Reporting Act (FCRA) and law that states you as a consumer have the right to challenge the credit reporting agencies (CRA’s) and demand removal of any trade lines that are reported inaccurately, that cannot be validated or simply outdated. […]
Is credit repair really needed?
I just got back from spending a few days in Savannah, GA for my wife’s birthday (I’m not suppose to tell you her age!!) But what a great town. We stayed at a Bed and Breakfast that was built back in 1862. There is so much history in that town, so much Civil war history with the big names like General Lee and others who lived or stayed in the area during the war. The food…WOW that was a really good time! As I got back into the groove this morning I had several messages and one woman has called me wondering if she should begin the credit repair process with us by asking the question “Is credit repair really needed in my case, I mean won’t my scores go up over time?” Now I must warn you that I am a bit biased but I do try to give a fair assessment to this question and in answering this question it might be best to rephrase it and ask a few other questions first. Now I have to be honest here and tell you that my first reaction at times is to reach through the phone and grab you by the scruff of the neck and shake you like a rag doll to knock some sense in you but I refrain from this immediate knee jerk reaction. […]