Duration : 0:2:31

Technorati Tags: credit report, Credit Score, free credit report, improve you credit score

Duration : 0:5:59

Technorati Tags: credit report, Credit Score, free credit report, improve you credit score

Your credit score affects many aspects of your life, so its important to have a clear understanding of how it works. Learning the five main components of your score is a good first step.

•Payment history is based on your bill payment history over time. This includes but is not limited to credit card, mortgage, and utility payments. Keep your credit score in good standing by making consistent, on-time payments.

•Amount owed is determined by the amount of debt you owe versus the total amount of credit you have. The reality is, if you use more than 50 percent of your credit limit, you will likely see your score drop.

•Length of credit history demonstrates your financial stability and the ability to manage credit responsibly. Keeping credit accounts open for at least two years will positively affect your score. Length of credit history can also play a role if you are trying to reduce your number of accounts.

•New credit looks at the number of accounts youve opened recently, as well as your proportion of new accounts to older, established accounts. Also considered are the number of recent credit inquiries that have been made for your report.

•Types of credit examines your current mix of debts, which may include credit cards, mortgage and auto loans, and retail accounts. Its important to have a good blend of credit, with limited revolving credit card accounts, because it shows youre able to manage a variety of credit types, says Elling.

Visit your local Affinity Plus branch location for a free copy of your credit report. A financial professional will meet with you, one-on-one, to review your report and answer your questions. We want to help you understand your credit report and how you can improve, and maintain, your score, says Elling.

For more information about credit score factors, free workshops, or to make an appointment with an Affinity Plus Federal Credit Union financial professional, please call (888) 830-2280 or visit www.onthemoneymn.com.

Duration : 0:0:30

Technorati Tags: credit report, Credit Score, education, finances, Financial, improvement, interest rates, loan approval, money

Big mortgage companies was pressing CRAs (Credit Reporting Agencies) to allow fast re-scoring for their clients to get them approved for mortgage. As a result now we have a 3rd party facilitators called “resellers”. Resellers help mortgage prospects to improve their credit score. They are paid by mortgage lenders. They are not allowed to advertise their services to general public.

Resellers can achieve fast results because they receive “preferred” fast service from CRAs (they don’t have to wait 30 days), and because they concentrate on activity which provides fast results. You can achieve the same results (it will take just couple of weeks longer). Here are the main focus points:

(1) Late payments – make “Good will” request to the lender (credit card company) to remove it.

(2) Make a payment on an account – and get a signed letter.

(3) Maxed out or high balance on revolving account (more than 30-35%) – pay, get a letter.

(4) Account that has been paid in full, but shown as having a balance – request a letter from the creditor confirming that the account is paid in full. Be careful about old ‘charge-offs’: if they are old – better let them stay ‘as is’. For more details why look here: http://www.101creditrepair.com

(5) Account which is not yours – dispute.

(6) Records which are too old (for example, an account beyond 7 year limit) – ask to remove

(7) Other accounts that should not be in report, for example a collection that has been already paid to another collection agency.

(8) Multiple references to the same account – dispute.

(9) An account on which you are only an ‘authorized user’. Authorized users are not legally obligated for payments. Yet the FICO scoring model still scores authorized user accounts as if they were joint users. Dispute.

For more information visit http://www.101creditrepair.com

Duration : 0:3:45

Technorati Tags: Credit History, credit repair, credit report, Credit Score, fast, Mortgage Resellers, Rebuild Credit

Duration : 0:1:26

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(1) Late records. Call your lenders and ask them to remove the late records in exchange of you making the payment. Or just say that you don’t recall being late. It may be as simple as a phone call.

(2) Settle with lenders. Negotiate that they will remove the bad records from your file retroactively instead of just reporting the debt as “paid in full”. The original creditor has the power to do this (completely dismiss all bad records related to the account). Also important is to get their promise in writing before you pay them. Usually it is a signed letter on a letterhead sent to you via fax.

(3) Dispute with CRAs. Do this by writing letters, providing proof – and sending them via certified mail so that you will have a confirmation of delivery for your file. If you do it right – the agencies will have to verify the facts and remove mistakes in no more than 30 days. In the guides on our web site ( http://www.101CreditRepair.com ) we provide sample letters and explain the tactics.

(4) Get more positive records – ask the lenders or vendors with whom you have good standing to send good information about you to credit agencies, or simply give you letters which you can forward to credit agencies yourself. This tactics is usually overlooked – but it is effective in shifting your good-to-bad balance.

(5) Reduce your revolving debt-to-credit ratio to less than 35%. Just one maxed-out credit card can reduce your score by 30 points. Partially pay it – or redistribute your debt between accounts. Note – opening new credit card accounts and moving balance into them has negative effect on your score. But may reduce your score. beif getting new cards – don’t get more than 2-3 at a time – and then wait 3-5 months before applying for more. Remember that opening a new account and moving balance into it can by itself reduce your score.

The above 5 simple tactics will work for most people and will provide fast results. For more advice on improving your credit score and cleaning your credit history visit our web site http://www.101creditrepair.com .

Note: lenders often send info to CRAs only once a month. For faster results ask for letters which you can send to CRAs yourself.

Duration : 0:4:46

Technorati Tags: Credit History, credit report, fast credit repair, Rebuild Credit

(1) Not using your right to check that the debt is yours. Somebody contacts you about a debt, and says that you owe him. Why would you trust him? How do you know that he did not mix up names? You can validate the debt in writing within 30 days of being notified. The collector has to hold off on contacting you until it sends you a written clarification of the debt in question. Do not be coerced into paying a debt you don’t owe, because if you do – it is an admission of guilt, and it will have a very negative impact on your credit score. For more information visit http://www.101creditrepair.com

(2) Sending money to a debt collector when you have no paperwork what you owe, how they arrived at that figure. While sending a request for validation to a collector – you should ask them to provide the details.

(3) Giving a debt collector your banking or credit card information. If you tell a collector to take $50 per month out of your account – don’t be surprised when he takes all the money from your account. And you will have very hard time to revert this, because the collector is going to say you gave your permission.

(4) Signing an agreement or legal document without understanding your rights and obligations. Don’t do it, even if you are threatened. If you do not have money to consult an attorney, ask your friend. Do not act while you are in fear. You always have at least one day to think things through.

(5) Not showing up in court, or answering a court suit, when served. If you don’t show up – the collector wins by default. Even if the debt was not legal – it becomes legal because you didn’t show up. The judgment goes on your credit report for 7 years. The debt will now continue to accrue interest and follow you for many years (the statue of limitations on original debt is 4-6 years, but on the judgment – 12-20 years !!). Many bottom-feeder attorneys never show up in court. All they do is file judgments against many people. They make money because certain percentage of those people don’t show up – thus attorney wins by default.

For more information visit http://www.101creditrepair.com

Duration : 0:6:15

Technorati Tags: collection agency, Collector, Credit History, credit report, Default Judgment, judgment, mistakes, Statue of Limitations

Duration : 0:4:20

Technorati Tags: credit repair, credit report, fix credit biz, genesis credit repair

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Duration : 0:7:35

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