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April 2011
National Credit Federation is in the News!
Herschel Bentley, the Executive Director of National Credit Federation, the attorney assisted credit repair services company has been profiled in USA Today, CNBC, CBS Money Watch, Yahoo Finance and several other major news outlets including the Miami Herald, Boston Globe and San Francisco Chronicle in the last few days. A total of 22 newspapers have [...]
February 2011
Is TU stepping up?
The last couple of days has been very interesting. I have been contacted by the guys at TU, and by guys I mean the President and the COO, who seemed to be interested about working with us in a more constructive fashion. They wanted to discuss how we could work together to streamline the process and cut costs for both of us. My first reaction was … […]
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
Credit scores are in a downward spiral!
Everyone has suspected that the average credit scores have been falling. The economy has given a serious black eye to credit and credit scores and now we know how much! FICO.com has just reported that 25.5% of the US population that use credit now have a credit score of 599 or less. That’s a whopping 43.4 million people in this category. In the past about 15% or 25.5 million have been in this category which means that over the last 2 years there are been an increase of 17.9 million people fall under a 599 credit score which is a whopping 70% increase! Overall 35% of the population are at a 649 credit score or less. What does this mean? Basically, look at the person to the right and look to the left and the dirty truth is that one of the three of you cannot buy a house nor car and are considered unworthy of credit by many lenders and are in need of help with credit repair. […]
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... [...]