Wonder why you didn't get that great job that you were well-qualified for? Your credit may be one reason! If you have been "credit - challenged" during your adult life, your poor credit score is probably turning off some employers.
It's a Catch-22, really. You need a good job so that you can get yourself out of the mess you are in and get your bills caught up. Yet, you get turned down for a good job on the basis of a credit report. Seems like a vicious cycle that you can't break out of!!!
There has got to be a way to clean up your credit report, so that you can do things with your life again. Do You Have Bad Credit? Don't give up!!
Wednesday, November 29, 2006
Monday, November 27, 2006
Do It Yourself Credit Repair
Everyday, so called "credit repair" businesses nationwide advertise to people with blemished credit histories. They promise, for a fee, to clean up your credit report so you can get a car loan, a home mortgage, insurance, or even a job. The truth is, they can’t deliver. After you pay them hundreds or thousands of dollars in fees, these companies do nothing to improve your credit report; most simply vanish with your money.
No one can legally remove accurate and timely negative information from a credit report. The law allows you to ask for an investigation of information in your file that you dispute as inaccurate or incomplete. There is no charge for this. Everything a credit repair clinic can do for you legally, you can do for yourself at little or no cost. According to the Fair Credit Reporting Act (FCRA):
* You’re entitled to a free report if a company takes adverse action against you, like denying your application for credit, insurance, or employment, and you ask for your report within 60 days of receiving notice of the action. The notice will give you the name, address, and phone number of the consumer reporting company. You’re also entitled to one free report a year if you’re unemployed and plan to look for a job within 60 days; if you’re on welfare; or if your report is inaccurate because of fraud, including identity theft.
* Each of the nationwide consumer reporting companies — Equifax, Experian, and TransUnion — is required to provide you with a free copy of your credit report, at your request, once every 12 months.
The three companies have set up a central website, a toll-free telephone number, and a mailing address through which you can order your free annual report. To order, click on annualcreditreport.com, call 1-877-322-8228, or complete the Annual Credit Report Request Form and mail it to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281. You can print the form from ftc.gov/credit. Do not contact the three nationwide consumer reporting companies individually. They are providing free annual credit reports only through annualcreditreport.com, 1-877-322-8228, and Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281. You may order your reports from each of the three nationwide consumer reporting companies at the same time, or you can order your report from each of the companies one at a time. Otherwise, a consumer reporting company may charge you up to $9.50 for another copy of your report within a 12-month period.
* You can dispute mistakes or outdated items for free. Under the FCRA, both the consumer reporting company and the information provider (that is, the person, company, or organization that provides information about you to a consumer reporting company) are responsible for correcting inaccurate or incomplete information in your report. To take advantage of all your rights under this law, contact the consumer reporting company and the information provider.
STEP ONE
Tell the consumer reporting company, in writing, what information you think is inaccurate. Include copies (NOT originals) of documents that support your position. In addition to providing your complete name and address, your letter should clearly identify each item in your report you dispute, state the facts and explain why you dispute the information, and request that it be removed or corrected. You may want to enclose a copy of your report with the items in question circled. Your letter may look something like the one on page 6. Send your letter by certified mail, “return receipt requested,” so you can document what the consumer reporting company received. Keep copies of your dispute letter and enclosures.
Consumer reporting companies must investigate the items in question — usually within 30 days — unless they consider your dispute frivolous. They also must forward all the relevant data you provide about the inaccuracy to the organization that provided the information. After the information provider receives notice of a dispute from the consumer reporting company, it must investigate, review the relevant information, and report the results back to the consumer reporting company. If the information provider finds the disputed information is inaccurate, it must notify all three nationwide consumer reporting companies so they can correct the information in your file.
When the investigation is complete, the consumer reporting company must give you the results in writing and a free copy of your report if the dispute results in a change. If an item is changed or deleted, the consumer reporting company cannot put the disputed information back in your file unless the information provider verifies that it is accurate and complete. The consumer reporting company also must send you written notice that includes the name, address, and phone number of the information provider.
If you request, the consumer reporting company must send notices of any correction to anyone who received your report in the past six months. You can have a corrected copy of your report sent to anyone who received a copy during the past two years for employment purposes.
If an investigation doesn’t resolve your dispute with the consumer reporting company, you can ask that a statement of the dispute be included in your file and in future reports. You also can ask the consumer reporting company to provide your statement to anyone who received a copy of your report in the recent past. You can expect to pay a fee for this service.
STEP TWO
Tell the creditor or other information provider, in writing, that you dispute an item. Be sure to include copies (NOT originals) of documents that support your position. Many providers specify an address for disputes. If the provider reports the item to a consumer reporting company, it must include a notice of your dispute. And if you are correct – that is, if the information is found to be inaccurate – the information provider may not report it again.
Sample Dispute Letter
Date
Your Name
Your Address
Your City, State, Zip Code
Complaint Department
Name of Company
Address
City, State, Zip Code
Dear Sir or Madam:
I am writing to dispute the following information in my file. The items I dispute also are encircled on the attached copy of the report I received.
This item (identify item(s) disputed by name of source, such as creditors or tax court, and identify type of item, such as credit account, judgment, etc.) is (inaccurate or incomplete) because (describe what is inaccurate or incomplete and why). I am requesting that the item be deleted (or request another specific change) to correct the information.
Enclosed are copies of (use this sentence if applicable and describe any enclosed documentation, such as payment records, court documents) supporting my position. Please investigate this (these) matter(s) and (delete or correct) the disputed item(s) as soon as possible.
Sincerely,
Your name
Enclosures: (List what you are enclosing)
No one can legally remove accurate and timely negative information from a credit report. The law allows you to ask for an investigation of information in your file that you dispute as inaccurate or incomplete. There is no charge for this. Everything a credit repair clinic can do for you legally, you can do for yourself at little or no cost. According to the Fair Credit Reporting Act (FCRA):
* You’re entitled to a free report if a company takes adverse action against you, like denying your application for credit, insurance, or employment, and you ask for your report within 60 days of receiving notice of the action. The notice will give you the name, address, and phone number of the consumer reporting company. You’re also entitled to one free report a year if you’re unemployed and plan to look for a job within 60 days; if you’re on welfare; or if your report is inaccurate because of fraud, including identity theft.
* Each of the nationwide consumer reporting companies — Equifax, Experian, and TransUnion — is required to provide you with a free copy of your credit report, at your request, once every 12 months.
The three companies have set up a central website, a toll-free telephone number, and a mailing address through which you can order your free annual report. To order, click on annualcreditreport.com, call 1-877-322-8228, or complete the Annual Credit Report Request Form and mail it to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281. You can print the form from ftc.gov/credit. Do not contact the three nationwide consumer reporting companies individually. They are providing free annual credit reports only through annualcreditreport.com, 1-877-322-8228, and Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281. You may order your reports from each of the three nationwide consumer reporting companies at the same time, or you can order your report from each of the companies one at a time. Otherwise, a consumer reporting company may charge you up to $9.50 for another copy of your report within a 12-month period.
* You can dispute mistakes or outdated items for free. Under the FCRA, both the consumer reporting company and the information provider (that is, the person, company, or organization that provides information about you to a consumer reporting company) are responsible for correcting inaccurate or incomplete information in your report. To take advantage of all your rights under this law, contact the consumer reporting company and the information provider.
STEP ONE
Tell the consumer reporting company, in writing, what information you think is inaccurate. Include copies (NOT originals) of documents that support your position. In addition to providing your complete name and address, your letter should clearly identify each item in your report you dispute, state the facts and explain why you dispute the information, and request that it be removed or corrected. You may want to enclose a copy of your report with the items in question circled. Your letter may look something like the one on page 6. Send your letter by certified mail, “return receipt requested,” so you can document what the consumer reporting company received. Keep copies of your dispute letter and enclosures.
Consumer reporting companies must investigate the items in question — usually within 30 days — unless they consider your dispute frivolous. They also must forward all the relevant data you provide about the inaccuracy to the organization that provided the information. After the information provider receives notice of a dispute from the consumer reporting company, it must investigate, review the relevant information, and report the results back to the consumer reporting company. If the information provider finds the disputed information is inaccurate, it must notify all three nationwide consumer reporting companies so they can correct the information in your file.
When the investigation is complete, the consumer reporting company must give you the results in writing and a free copy of your report if the dispute results in a change. If an item is changed or deleted, the consumer reporting company cannot put the disputed information back in your file unless the information provider verifies that it is accurate and complete. The consumer reporting company also must send you written notice that includes the name, address, and phone number of the information provider.
If you request, the consumer reporting company must send notices of any correction to anyone who received your report in the past six months. You can have a corrected copy of your report sent to anyone who received a copy during the past two years for employment purposes.
If an investigation doesn’t resolve your dispute with the consumer reporting company, you can ask that a statement of the dispute be included in your file and in future reports. You also can ask the consumer reporting company to provide your statement to anyone who received a copy of your report in the recent past. You can expect to pay a fee for this service.
STEP TWO
Tell the creditor or other information provider, in writing, that you dispute an item. Be sure to include copies (NOT originals) of documents that support your position. Many providers specify an address for disputes. If the provider reports the item to a consumer reporting company, it must include a notice of your dispute. And if you are correct – that is, if the information is found to be inaccurate – the information provider may not report it again.
Sample Dispute Letter
Date
Your Name
Your Address
Your City, State, Zip Code
Complaint Department
Name of Company
Address
City, State, Zip Code
Dear Sir or Madam:
I am writing to dispute the following information in my file. The items I dispute also are encircled on the attached copy of the report I received.
This item (identify item(s) disputed by name of source, such as creditors or tax court, and identify type of item, such as credit account, judgment, etc.) is (inaccurate or incomplete) because (describe what is inaccurate or incomplete and why). I am requesting that the item be deleted (or request another specific change) to correct the information.
Enclosed are copies of (use this sentence if applicable and describe any enclosed documentation, such as payment records, court documents) supporting my position. Please investigate this (these) matter(s) and (delete or correct) the disputed item(s) as soon as possible.
Sincerely,
Your name
Enclosures: (List what you are enclosing)
Friday, November 24, 2006
The Attorney's Guide to Credit Repair-is it a Scam?
Here are some of the promises made:
"Discover Step-By-Step How To Repair Your Credit Report Within The Next 60 Days, So You Can Buy A House , A New Car, Get Credit Cards, and Much More!" "
"Discover Step-By-Step How To Repair Your Credit Report Within The Next 60 Days, So You Can Buy A House , A New Car, Get Credit Cards, and Much More!" "
You'll learn step-by-step...
- How to remove Chapter 7 and Chapter 13 bankruptcy from your credit report using my 2 step bankruptcy removal technique anyone can follow.
- How to remove charge offs and slow pays from your credit report using my "Prove It Or Remove It" technique.
- How to remove judgments and liens from your credit report using a critical flaw in the court system.
- How get your creditors on your side, so they're actually willing to help you by removing late payments from your credit report.
- How to reduce your debts to a fraction of what you owe by mailing a simple one page letter to your creditors.
Monday, November 20, 2006
Collection Agencies
The phone rings, and you get that sick feeling inside. Oh, no- not ANOTHER bill collector!! Sometimes you just don't answer or you look at the caller ID first, if you have it on your phone.
Don't these people know that you are a good person who is going through a hard time right now, and if you did have the money, you would pay them? Calling you day after day won't get them their money any faster, especially since you just lost your job, and your mate is only working part-time.
I used to work for a collection agency myself, not as a collector, but as their outside sales rep. If the agency does not follow the procedures outlines in the Fair Debt Collections Practices Act, you can not only be off the hook for what you owed the creditor that they represent, but you can sue them for three times the amount of the debt!
Are you aware that the credit report banks and businesses get to see has about TWICE the financial information compared to the credit report you receive from the credit bureaus?
CLICK HERE for more info!!
http://www.ezniche.com/data/article.php?l=477
Don't these people know that you are a good person who is going through a hard time right now, and if you did have the money, you would pay them? Calling you day after day won't get them their money any faster, especially since you just lost your job, and your mate is only working part-time.
I used to work for a collection agency myself, not as a collector, but as their outside sales rep. If the agency does not follow the procedures outlines in the Fair Debt Collections Practices Act, you can not only be off the hook for what you owed the creditor that they represent, but you can sue them for three times the amount of the debt!
Are you aware that the credit report banks and businesses get to see has about TWICE the financial information compared to the credit report you receive from the credit bureaus?
CLICK HERE for more info!!
http://www.ezniche.com/data/article.php?l=477
Saturday, November 18, 2006
A Fresh Start Overseas?
Sometimes, when things look bad in your location, you seriously consider moving one. "Change your place, change your luck" as the old Yiddish saying goes.
If you have had credit problems and live in the United States, do those problems follow you when you move abroad? It probably depends on which country becomes your new home. I've been looking into moving to New Zealand. Your bad credit doesn't follow you there, but when you start off, you have "no credit". I guess no credit could be better than bad credit!!
Banks are very eager to lend money for mortgages there. No hassles, no hearing "NO". Bankers in New Zealand, for the most part, are anxious to help you and take making their customers happy seriously- diametrically opposed to the US banker who could care less about you unless you happen to be a multi-millionaire. Bank fees are higher than we are used to paying, though- $3 per check is the usual charge for check-writing.
One thing to watch out for: in New Zealand, credit card rates are very high.
Usuariously high, to be exact, with 29% being the norm.
I'll have to research what other countries do about credit for new immigrants wanting to set up residence there. If anyone knows about situations in other countries, please feel free to comment.
If you have had credit problems and live in the United States, do those problems follow you when you move abroad? It probably depends on which country becomes your new home. I've been looking into moving to New Zealand. Your bad credit doesn't follow you there, but when you start off, you have "no credit". I guess no credit could be better than bad credit!!
Banks are very eager to lend money for mortgages there. No hassles, no hearing "NO". Bankers in New Zealand, for the most part, are anxious to help you and take making their customers happy seriously- diametrically opposed to the US banker who could care less about you unless you happen to be a multi-millionaire. Bank fees are higher than we are used to paying, though- $3 per check is the usual charge for check-writing.
One thing to watch out for: in New Zealand, credit card rates are very high.
Usuariously high, to be exact, with 29% being the norm.
I'll have to research what other countries do about credit for new immigrants wanting to set up residence there. If anyone knows about situations in other countries, please feel free to comment.
Thursday, November 16, 2006
Every Problem has a Solution
How many times have you caught yourself saying that there could be no other solution to a problem – and that that problem leads to a dead end? How many times have you felt stumped knowing that the problem laying before you is one you cannot solve. No leads. No options. No solutions.
Did it feel like you had exhausted all possible options and yet are still before the mountain – large, unconquerable, and impregnable? When encountering such enormous problems, you may feel like you're hammering against a steel mountain. The pressure of having to solve such a problem may be overwhelming.
But rejoice! There might be some hope yet!
With some creative problem-solving techniques you may be able to look at your problem in a different light. And that light might just be the end of the tunnel that leads to possible solutions.
First of all, in the light of creative problem-solving, you must be open-minded to the fact that there may be more than just one solution to the problem. And, you must be open to the fact that there may be solutions to problems you thought were unsolvable.
Now, with this optimistic mindset, we can try to be a little bit more creative in solving our problems.
Number one; maybe the reason we cannot solve our problems is that we have not really taken a hard look at what the problem is. Here, trying to understanding the problem and having a concrete understanding of its workings is integral solving the problem. If you know how it works, what the problem is, then you have a better foundation towards solving the problem.
Not trying to make the simple statement of what problem is. Try to identify the participating entities and what their relationships with one another are. Take note of the things you stand to gain any stand to lose from the current problem. Now you have a simple statement of what the problem is.
Number two; try to take note of all of the constraints and assumptions you have the words of problem. Sometimes it is these assumptions that obstruct our view of possible solutions. You have to identify which assumptions are valid, in which assumptions need to be addressed.
Number three; try to solve the problem by parts. Solve it going from general view towards the more detailed parts of the problem. This is called the top-down approach. Write down the question, and then come up with a one-sentence solution to that from them. The solution should be a general statement of what will solve the problem. From here you can develop the solution further, and increase its complexity little by little.
Number four; although it helps to have critical thinking aboard as you solve a problem, you must also keep a creative, analytical voice at the back of your head. When someone comes up with a prospective solution, tried to think how you could make that solution work. Try to be creative. At the same time, look for chinks in the armor of that solution.
Number five; it pays to remember that there may be more than just one solution being developed at one time. Try to keep track of all the solutions and their developments. Remember, there may be more than just one solution to the problem.
Number six; remember that old adage," two heads are better than one." That one is truer than it sounds. Always be open to new ideas. You can only benefit from listening to all the ideas each person has. This is especially true when the person you're talking to has had experience solving problems similar to yours.
You don't have to be a gung-ho, solo hero to solve the problem. If you can organize collective thought on the subject, it would be much better.
Number seven; be patient. As long as you persevere, there is always a chance that a solution will present itself. Remember that no one was able to create an invention the first time around.
Creative thinking exercises can also help you in your quest be a more creative problems solver.
Here is one example.
Take a piece of paper and write any word that comes to mind at the center. Now look at that word then write the first two words that come to your mind. This can go on until you can build a tree of related words. This helps you build analogical skills, and fortify your creative processes.
So, next time you see a problem you think you can not solve, think again. The solution might just be staring you right in the face. All it takes is just a little creative thinking, some planning, and a whole lot of work.
Did it feel like you had exhausted all possible options and yet are still before the mountain – large, unconquerable, and impregnable? When encountering such enormous problems, you may feel like you're hammering against a steel mountain. The pressure of having to solve such a problem may be overwhelming.
But rejoice! There might be some hope yet!
With some creative problem-solving techniques you may be able to look at your problem in a different light. And that light might just be the end of the tunnel that leads to possible solutions.
First of all, in the light of creative problem-solving, you must be open-minded to the fact that there may be more than just one solution to the problem. And, you must be open to the fact that there may be solutions to problems you thought were unsolvable.
Now, with this optimistic mindset, we can try to be a little bit more creative in solving our problems.
Number one; maybe the reason we cannot solve our problems is that we have not really taken a hard look at what the problem is. Here, trying to understanding the problem and having a concrete understanding of its workings is integral solving the problem. If you know how it works, what the problem is, then you have a better foundation towards solving the problem.
Not trying to make the simple statement of what problem is. Try to identify the participating entities and what their relationships with one another are. Take note of the things you stand to gain any stand to lose from the current problem. Now you have a simple statement of what the problem is.
Number two; try to take note of all of the constraints and assumptions you have the words of problem. Sometimes it is these assumptions that obstruct our view of possible solutions. You have to identify which assumptions are valid, in which assumptions need to be addressed.
Number three; try to solve the problem by parts. Solve it going from general view towards the more detailed parts of the problem. This is called the top-down approach. Write down the question, and then come up with a one-sentence solution to that from them. The solution should be a general statement of what will solve the problem. From here you can develop the solution further, and increase its complexity little by little.
Number four; although it helps to have critical thinking aboard as you solve a problem, you must also keep a creative, analytical voice at the back of your head. When someone comes up with a prospective solution, tried to think how you could make that solution work. Try to be creative. At the same time, look for chinks in the armor of that solution.
Number five; it pays to remember that there may be more than just one solution being developed at one time. Try to keep track of all the solutions and their developments. Remember, there may be more than just one solution to the problem.
Number six; remember that old adage," two heads are better than one." That one is truer than it sounds. Always be open to new ideas. You can only benefit from listening to all the ideas each person has. This is especially true when the person you're talking to has had experience solving problems similar to yours.
You don't have to be a gung-ho, solo hero to solve the problem. If you can organize collective thought on the subject, it would be much better.
Number seven; be patient. As long as you persevere, there is always a chance that a solution will present itself. Remember that no one was able to create an invention the first time around.
Creative thinking exercises can also help you in your quest be a more creative problems solver.
Here is one example.
Take a piece of paper and write any word that comes to mind at the center. Now look at that word then write the first two words that come to your mind. This can go on until you can build a tree of related words. This helps you build analogical skills, and fortify your creative processes.
So, next time you see a problem you think you can not solve, think again. The solution might just be staring you right in the face. All it takes is just a little creative thinking, some planning, and a whole lot of work.
Tuesday, November 14, 2006
Welcome to my blog on Consumer Debt and Credit Repair!
Welcome to my blog on Consumer Debt and Credit Repair! It's my hope that we can share ideas to improve your credit score and your quality of life. credit repair, bad credit repair,credit repair report, credit services,credit free report,credit information, credit scores- it's all good here!
Everything in the United States seems to revolve around your credit score. The reasons we as Americans buy on credit varies, but without it most of us would probably never be able to purchase necessities such as a home or automobile. The nation's economy depends on credit, the promise to pay later for goods and services used today; but along with consumer credit comes consumer debt. With the rise in telemarketing and commercializing in America it is no wonder why Americans feel the impulse to buy now,
pay later. The most common form of consumer debt is installment debt, which is when a
consumer borrows the money to purchase an item and agrees to repay the loan in equal
installments over a fixed period of time.
Without installment debt most consumers could not afford to purchase items such as a home. The truth of the matter is that we, as Americans, tend to want to purchase more than we can afford to purchase when we want it. But, we can afford to pay it out, over time, in fixed payments.
Mortgages, a debt owed on real property, are the latest form of installment debt. Other forms include automobile loans and credit card purchases. Just pick up the newspaper any time after Christmas and you will find articles on managing your mounting debt from Christmas.
Not realizing the extent of the consumers' debt is one of the most common types of credit problems. Denial may play a partial role in this problem, but the lack of education seems to be the largest reason for consumer debt. Credit card use is up 20% and a large number of Americans do not know the percentage rate at which the credit card companies charge. Many credit card companies have started "personalizing" interest rates by not disclosing the interest rate until after the consumer has received the card. By not disclosing the interest rate on the application the credit card companies prohibit the consumer from shopping around for the best deal.
You could just say they should cancel the credit card, but did you know several requests for consumer credit could be viewed negatively because the information is reported to the credit bureaus? This leaves you, the consumer, with a bad credit report. Household debt and bankruptcy are at record levels and appear to be on the rise. We as consumers must begin to educate ourselves and stop living beyond our means.
Everything in the United States seems to revolve around your credit score. The reasons we as Americans buy on credit varies, but without it most of us would probably never be able to purchase necessities such as a home or automobile. The nation's economy depends on credit, the promise to pay later for goods and services used today; but along with consumer credit comes consumer debt. With the rise in telemarketing and commercializing in America it is no wonder why Americans feel the impulse to buy now,
pay later. The most common form of consumer debt is installment debt, which is when a
consumer borrows the money to purchase an item and agrees to repay the loan in equal
installments over a fixed period of time.
Without installment debt most consumers could not afford to purchase items such as a home. The truth of the matter is that we, as Americans, tend to want to purchase more than we can afford to purchase when we want it. But, we can afford to pay it out, over time, in fixed payments.
Mortgages, a debt owed on real property, are the latest form of installment debt. Other forms include automobile loans and credit card purchases. Just pick up the newspaper any time after Christmas and you will find articles on managing your mounting debt from Christmas.
Not realizing the extent of the consumers' debt is one of the most common types of credit problems. Denial may play a partial role in this problem, but the lack of education seems to be the largest reason for consumer debt. Credit card use is up 20% and a large number of Americans do not know the percentage rate at which the credit card companies charge. Many credit card companies have started "personalizing" interest rates by not disclosing the interest rate until after the consumer has received the card. By not disclosing the interest rate on the application the credit card companies prohibit the consumer from shopping around for the best deal.
You could just say they should cancel the credit card, but did you know several requests for consumer credit could be viewed negatively because the information is reported to the credit bureaus? This leaves you, the consumer, with a bad credit report. Household debt and bankruptcy are at record levels and appear to be on the rise. We as consumers must begin to educate ourselves and stop living beyond our means.
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