Is Bad Credit a Turnoff?

I figured bad credit is always a good subject matter since it is so common in the U.S. I have read that the average credit score in the U.S. is 650. I would be curious to see what the average credit score is right now after all these foreclosures and credit card debt issues. I would be willing to bet the average credit score currently well below 650. Let’s get back to the subject, about “Bad Credit” being a turnoff. Let’s assume your name is Sherry, and you meet the coolest guy you have ever met in your life. All the sudden you are in love with each other. Well, obviously the next step would be to get married. But of course you have never requested copies of you’re soon to be mate’s credit report. You have been dating this individual for 2 years now, and decide a house, would be a great idea. But to your surprise you soon learn that you’re soon to be husband has bad credit. Uh oh, now you cannot get a mortgage, because you don’t qualify for the home you would prefer on your income alone. Now you start questioning your fiancé about why his credit is bad. Your fiancé now starts letting out all the skeletons that were never discussed before. You can now see how bad credit can be a real turn off quick.


How credit reports can say a lot about a person:

A Credit Report will tell a story about an individual. You can look at someone credit report and determine if they are a responsible person or not. If you pull your finances credit report, and their report is littered with collections, charge offs, bankruptcies and foreclosures, you might think twice about proceeding with the marriage. What would be hard to swallow would be the fact you have excellent credit, and if you marry this individual you inherit their bad credit debt and problems as well. Let’s come down to reality; your credit can start to creep into all aspects of your life. So now you cannot buy house, but need to rent something until you figure out how to repair the credit issue. Landlords for rental properties will pull your credit and weigh the same calculated risk. They may not want to rent to you because of your bad credit circumstances. This bad credit issue, can creep into all parts of your personal life. It’s kind of like if you don’t brush your teeth, you will get a cavity. Well, bad credit will keep you from doing a lot of things. Here are a few examples:

1. Renting a apartment
2. Getting a new house.
3. Getting credit cards
4. Getting a new job
5. Getting a checking account


These are just some examples, of how bad credit can be like a plague in your life or a major turnoff for other parties. Everything is risk these days including marriage.Pull your free credit score report today, and nip matters in the bud up front. That way there are no suprises for anyone. There is a good chance you had good credit, but to your suprise one of your creditors put some inaccurate information on your credit report about you. This one of many reasons to stay on top of your credit report.







About the Author: Mike Clover is the owner of http://www.creditscorequick.com/. CreditScoreQuick.com is the one of the most unique on-line resources for free credit score report, Internet identity theft software, secure credit cards, and a BlOG with a wealth of personal credit information. The information within this website is written by professionals that know about credit, and what determines ones credit worthiness.

Top 10 Credit Report Repair SCAMS – Consumer Beware

I am sure we have all heard that you can get your credit report repaired if you hire a credit restoration company. They can repair it usually as long as you pay them around $1000.00 bucks to do so. According to the FTC, a credit repair company is not supposed to collect money from you until services are rendered. Hmmmmmmm. Good luck finding someone that will do that. Ok, here are the SCAMS.

1. I will increase your Credit Score 150 points in 30 days.
2. I will remove late payments on your credit report, even though you were actually late.
3. Don’t pay collections it hurts your credit
4. We can remove collections even though you owe the debt
5. We can remove Bankruptcies even though it’s still within 7 years.
6. We can remove a foreclosure, even though it’s still within 7 years.
7. We can remove judgments, even though you owe it.
8. We can remove tax liens even though you owe it.
9. If the balanced reporting is incorrect we can get collection removed
10. If the Bureaus do not respond to a dispute within 30days, they have to remove item in question.


I am sorry folks, but if you have debt you owe, it will be on there for 7 years from original collection date. No one can delete a debt you owe. I promise. Here is a good link for FTC facts on credit report repair SCAMS. Go Here: Don’t get me wrong, there are credit restoration companies out there that provide disputes for inaccurate information, and are not SCAMS. Typically credit repair companies prey on the desperate, and take advantage of them. So be careful. I would also recommend pulling a current copy of your free credit score report, and make sure everything on there is accurate. You can actually do everything credit repair companies do for a fee for free yourself. You can go here for quick guide on how to dispute your credit report.

About the Author: Mike Clover is the owner of http://www.creditscorequick.com/. CreditScoreQuick.com is the one of the most unique on-line resources for free credit score report, Internet identity theft software, secure credit cards, and a BlOG with a wealth of personal credit information. The information within this website is written by professionals that know about credit, and what determines ones credit worthiness.

How checking your Free Credit Score regularly will help you save money.

Checking your free credit score regularly will benefit you because your credit changes every 30 days. You are probably asking yourself what do you mean your credit changes every 30 days. Well the creditors you have obligations with re-report your credit status every 30 days usually to all 3 credit bureaus. If you had a credit card with a credit limit of $4000 and a balance of $2500 and you charged another $500 on your card your balance would change along with your credit score as well. Since creditors report any changes with your credit report every 30 days, you probably should check you credit report once every 3 months. It would probably not hurt to pull your credit report every other month. There is a lot that can happen to your report within a 30 day period. The point I am trying to make is if you are managing your credit properly, and want to be aware of your credit score, you need to check it often. Anything can happen to your credit within a 30 day window. Let’s assume one of your creditors accidentally reports a late payment on your credit report, and you actually were not late. Because of this mistake on your creditors behalf, they just dropped your credit score 100 to 150 points. You decide to go apply for a new car, because you need one and they are advertising low interest rate loans. To your surprise because of this particular creditor’s mistake, you get denied because your credit score is too low. Believe it or not this is a very common issue out there. 1 in 4 credit reports have mistakes that cause low credit risk people to get denied. I hope I have convinced you to stay on top of your credit.


Oh, pulling your consumer credit report does not affect your credit score at all. It is considered a soft pull. With all that I just discussed, I would assume you are not independently wealthy. You probably need to save as much money as possible so you can retire someday. With your credit being in good standing you will save on interest rate charges, therefore being able to save more. Stay on top of your credit and start saving today. There has never been more of a sense of urgency to make sure you are getting the grade in this digital age. When I say getting the grade, I am talking about your creditworthiness. With everyone wanting to know your score, you might want to get your free credit score today. I am not sure about you, but I would like to save as money much as possible, if not for me but for my kids.

About the Author: Mike Clover is the owner of http://www.creditscorequick.com/. CreditScoreQuick.com is the one of the most unique on-line resources for free credit score report, Internet identity theft software, secure credit cards, and a BlOG with a wealth of personal credit information. The information within this website is written by professionals that know about credit, and what determines ones credit worthiness.

Are Credit Reports Racist?

Could your Credit Report be a racist report? We all know racism is a problem in the U.S., but of course no one wants to admit it. Is it possible that when calculating your credit score your result was lower because of the color of your skin, or because of your sex? Do the Credit Bureaus even know what race you are, or your sex? These are some interesting questions that need to be answered in this article. The following does not determine your credit score according to MyFICO. MyFICO is the inventor of the FICO score that 90% of banks use to determine your creditworthiness.

The following does not determine your credit:

1. Race, Color, Religion, national origin, sex and martial status
2. your age
3. Your salary, occupation, title, employer, date employed or employment history
4. Where you live
5. Interest rates currently being charged on any account
6. Any items reported as child/family support obligations or rental agreements.
7. Whether or not you are participating in a credit counseling of any kind.
8. Any information not found in your credit report.
9. Any information that is not proven to be predictive of future credit performance.
10. Certain types of inquiries (requests for your credit report).

US law prohibits credit scoring from considering these facts, as well as any receipt of public assistance, or the exercise of any consumer right under the Consumer Credit Protection Act. It is good to know that your credit report is calculated on other factors.

Below is a good example of how your credit score is calculated.

Now you can see how credit reports are not predjustice, they calculate your credit based on the information provided in the pie chart above.

Don’t forget to learn what creditors already know. If you are in the market to make a purchase you might consider getting your free credit score report. That way you know what they will find out.

About the Author: Mike Clover is the owner of http://www.creditscorequick.com/. CreditScoreQuick.com is the one of the most unique on-line resources for free credit score report, Internet identity theft software, secure credit cards, and a BlOG with a wealth of personal credit information. The information within this website is written by professionals that know about credit, and what determines ones credit worthiness.

My Credit Report is bad because of the Devil

Your Credit Report is not bad because of GOD. Let’s face it, GOD does not cause harm to anyone. I am sure anyone can relate to some period in their life where their credit got messed up. But what really causes bad credit. It’s the Devil, and don’t be fooled that its not. Greed is the number one cause of bad credit in our country.
Everyone wants more, and being content with what you have just is not enough. Let’s just use the term “keeping up with the Jones’s.” That is a very good example, of what greed is. Your neighbor just bought a new Lexus and you are driving that old Camry. You see on TV that there is 0% interest on that new car, so you get in your Camry and run down to buy a new car. The only problem is; there is nothing wrong with your current car. Over the last 7 years there have been tons of advertisements on TV, don’t worry no payments for 3 years, and 0% interest to top it off. Come on in, and get all this stuff, TVs, furniture, stereos, etc……….. with no payments and 0% interest and then you get laid off, or something comes up. Now you have all this STUFF, and no way to pay for it. The Devil creeps into everyone’s lives and strips that feeling of content away so you will go into debt. During these days and times, your good name is all you have. Make sure you don’t allow the devil to make you think you need more, because you don’t. Believe me you are not going to take all that STUFF with you anyways. Your Credit Report is important these days, don’t let the Devil ruin your credit.

About the Author: Mike Clover is the owner of http://www.creditscorequick.com/. CreditScoreQuick.com is the one of the most unique on-line resources for free credit score report, Internet identity theft software, secure credit cards, and a BlOG with a wealth of personal credit information. The information within this website is written by professionals that know about credit, and what determines ones credit worthiness.

Credit Bureaus address and phone numbers

Credit Bureaus address and phone numbers are listed here. We have also listed the online dispute links as well. Your one stop resource for all 3 Bureaus.

Bureaus Addresses and Phone numbers:

Equifax
P.O. Box 740256
Alanta, GA 30374
(800) 797-7033

Experian
NCAC
P.O. Box 9595
Allen, TX 75013
(800) 583-4080

Trans Union
P.O. Box 2000
Chester, PA 19022-2000
(800) 916-8800

On-line dispute for each bureau:

Equifax
Dispute online

Experian
Dispute online

TransUnion
Dispute online


About the Author: Mike Clover is the owner of http://www.creditscorequick.com/. CreditScoreQuick.com is the one of the most unique on-line resources for free credit score report, Internet identity theft software, secure credit cards, and a BlOG with a wealth of personal credit information. The information within this website is written by professionals that know about credit, and what determines ones credit worthiness.

Free Credit Score Report Resource

Free Credit Score Report Resource; have you ever wondered why you might need your free credit score report? There are so many different reasons to have your report; I don’t know where to begin. Let’s start with saving money. I am sure you are interested in saving some money, maybe for that vacation to the Bahamas, or maybe that new car.
Here is the scenario:

Mortgage Loan Amount: $200,000
Good credit interest rate: 6.0 %
30 yr fixed payment: $1199.00

Mortgage Loan Amount: $200,000
Bad Credit Interest rate: 6.75 %
30yr fixed payment: $1297.00

Difference in cost is $35,280 dollars over 30yrs.

This is one good reason why you need to know what is being reported about you. If you are on top of you credit report, like you are on top of your checking account, you will have a lot more money in that checking account. Why?, because you are managing your personal credit so you don’t have to pay higher interest rates, which long term will cost you tons of money. Have you ever heard that saying, only if I knew then what I know now, I would have ………. Its one of those saying where you know you should of, but you didn’t.

I know that an educated consumer is a consumer that pays less, saves more, and retires early. Let’s face it, if you are not RICH, then you have to work and save for retirement some day. Just imagine all the money you would save if your credit score is good. There has been a paradigm shift in our country, from taking someone’s word to pulling your credit to determine there decision for the following:
1. New job
2. New checking account
3. Loans
4. Insurance

Companies are tired of people not paying there bills, so now they have software that can determine your credit risk in a few key strokes. Stay on top your credit, because if you don’t it will cost you.

About the Author: Mike Clover is the owner of http://www.creditscorequick.com/. CreditScoreQuick.com is the one of the most unique on-line resources for free credit score report, Internet identity theft software, secure credit cards, and a BlOG with a wealth of personal credit information. The information within this website is written by professionals that know about credit, and what determines ones credit worthiness.

Credit Report- Breaking News

1 in 4 credit reports have serious errors group says. According to a recent study done in 30 states, 79% of the people that had there credit report pulled had serious errors on it. This study was done by a Public Interest research group.

According to this Public Interest Research Group 54% of the credit reports surveyed included personal identifying information that was misspelled, belonged to someone else, outdated or was just flat plain incorrect. Thirty Percent included accounts that were closed but remained open. The 3 Big Credit Bureaus and big business evidently tolerate big mistakes in credit reports “said Ed Mierzwinski, PIRG’s consumer program director. But these mistakes ruin financial reputations of hard working Americans. The 3 largest credit reporting agencies Experian, TransUnion, and Equifax collect information from public records, bankruptcies, landlords, employers, insurance companies and utilities, which use them to determine the likelihood of you paying back your obligations. PIRG advised pulling your credit report regularly especially if you are about to make a big purchase.

“Folks” this is a huge problem, this is kind of like the software that is designed by Microsoft. When you have humans writing software, you can assure yourself that there are going to be bugs in the software that determines your personal credit score. This is the main reason why it is so critical that you pull a copy of your free credit score report with all 3 bureaus. Once you pull your credit report you can go here to start the disputing process if your credit report has errors on it.

About the Author: Mike Clover is the owner of http://www.creditscorequick.com/. CreditScoreQuick.com is the one of the most unique on-line resources for free credit score report, Internet identity theft software, secure credit cards, and a BlOG with a wealth of personal credit information. The information within this website is written by professionals that know about credit, and what determines ones credit worthiness.

Free Credit Score Report Repair

Free Credit Score Report Repair is a few clicks away. Are you interested in learning how to repair your own bad credit report for Free? I will give you a resource in this article that will teach you how to repair your own credit. There are lots of companies out there preying on people with bad credit. Typically people with bad credit are desperate to get some help on how to improve there creditworthiness. Did you know everything a credit repair companies does to repair your credit for a fee, you can do all of this through this resource I am about to give you for free. I know that everyone works, has kids, and when it’s all said and done its easier to hire someone. Current statistics show that most credit repair companies just take your money and hope you go away, according to the FTC. They typically charge around $1000.00 to fix your credit. That is a lot of money, especailly if you can do it yourself with little or no cost.
Typical costs are:
1.Postage for disputes
2. Pulling your credit report with scores,by the way credit reports without scores are useless.
3. Your time

Ok, here is the website and the process to get started.

Free Credit Score Report Repair Resource and Process:

1. Got get a copy of your free credit score report at http://www.creditscorequick.com/
2. Once you have printed out your report, examine what collections, charge offs, slow pays, etc…… are not yours.
2. Go here within website to learn how to dispute items:
3. Wait 60 days re-pull your free credit score report to examine what got removed.
4. It is that simple.

Common myths about credit repair:

1. You can remove collections from your credit report even if you actually owe it.
2. You can remove charge off from your credit report even if you actually owe it.
2. Don’t pay off old collections, it will hurt your credit if you pay off.
3. You can remove judgments, tax liens, or any public record even though you owe it.
4. Pulling your credit will hurt your credit score
5. You can remove late payments from your credit report even though you were late.


I think you can get the idea that if your debt, it will not go away until you either pay or settle on the debt.

What not to do, so your credit score will not get worse:

1. Don’t ever be late on your payments.
2. Don’t charge up your credit cards more than 30% of allowed credit limit.
3. Don’t co-sign anything for anybody.
4. Pay your medical bills so they don’t go to collection.
5. Don’t allow anything to go to collection.
6. Don’t go out and apply for a bunch of credit with different creditors.
7. Don’t close out good credit, even though you are not using it.

I hope this has helped you learn how to repair and keep you credit on the right track. If you have any questions don’t hesitate to e-mail me @ mike@creditscorequick.com

About the Author: Mike Clover is the owner of http://www.creditscorequick.com/. CreditScoreQuick.com is the one of the most unique on-line resources for free credit score report, Internet identity theft software, secure credit cards, and a BlOG with a wealth of personal credit information. The information within this website is written by professionals that know about credit, and what determines ones credit worthiness.

Equifax Free FICO score report

Free fico score report is available with a 14 day trial at CreditScoreQuick.com. If you are looking for the score that is becoming the standard in today’s times, look no further.CreditScoreQuick.com provides credit reports with FICO scores delivered to you instantly by our partner Equifax online to the privacy of your computer. A lot of people are not sure what the difference is. Let me explain what FICO score is. FICO score was developed by Fair Isaac Corporation; it is the credit score they developed through there Next Gen software. This software is what most banks and creditors are using to determine your credit risk. This particular score is what the creditors use, so should you know what they see? 90% of the banks use this FICO score to determine whether they will extend you a loan or not. Here is an example of what FICO scores range between.

300 – 850 credit score

Here is Myficos chart in regards to how each category determines your score.












We also thought we would provide you with an excellent video on how very important it is to know your FICO score. See below.
Click here:

I would not wait around on some creditor to tell you NO, start getting told yes because you know your FICO score. Get your free fico credit score today at CreditScoreQuick.com


About the Author: Mike Clover is the owner of http://www.creditscorequick.com/. CreditScoreQuick.com is the one of the most unique on-line resources for free credit score report, Internet identity theft software, secure credit cards, and a BlOG with a wealth of personal credit information. The information within this website is written by professionals that know about credit, and what determines ones credit worthiness.

Common Credit Score Myths

There are many Credit Score myths out there. It’s amazing how everyone is an expert at knowing what will dictate your credit score on your credit report. I go to the source of the credit risk model at Fair Isaac. They should know since they wrote the FICO score model. Here are some myths that need to be cleared up.

1. Credit inquiries will drop my credit score:

I have heard this over the years as lender from all types of clients. This is the biggest myth in the lending arena. Your credit score does not drop from you pulling your consumer credit report. It may drop if you have a lender pull a report. Here is what Fair Isaac says about inquiries

Multiple inquiries for the following could drop your score about 5 points:
1. Mortgage
2. Auto Loan
3. Other credit

Credit inquiries that don’t affect your credit score:
1. Pulling your own credit report
2. credit checks by business to offer you goods and services
3. inquiries made by a company which you already have credit with
4. credit checks by potential employers

Checking your credit report regularly is recommended by Fair Isaac, to ensure it is accurate, and free of errors. Checking your report is considered good management of your personal credit.

Here is how credit inquiries are factored in FICO scores.

Payment history = 35%
Amounts owed = 30%
Length of credit history = 15%
New credit = 10%
Types of credit in use = 10%

2. I should close old credit accounts:

Closing old credit accounts that is good credit is a bad idea. If you close old credit accounts you just got rid of good credit that was reporting to all 3 credit bureaus. This is a common myth out there, that old good credit accounts will hurt your score. This is not true. Don close old account, you should actually charge a little on these accounts and pay the entire balance when bill is due.

To better your credit score, you should pay down your debt and never be late on anything. You should also check your credit regularly. Remember pulling your own credit report does not affect your credit score what so ever.

About the Author: Mike Clover is the owner of http://www.creditscorequick.com/. CreditScoreQuick.com is the one of the most unique on-line resources for free credit score report, Internet identity theft software, secure credit cards, and a BlOG with a wealth of personal credit information. The information within this website is written by professionals that know about credit, and what determines ones credit worthiness.

When should I pull my free credit score report?

Your Free Credit Score Report should be pulled for many reasons. With your credit score being one of the most important factors in your life that could affect many choices you make from here on out. In this article I will discuss when it is crucial for you and your family to pull your credit report.

Situation 1: You just applied for a loan and to your surprise they told you NO, and did not give a reason. Some banks will tell you NO, but not give a reason for the denial. This is a great reason to get your free credit score report right a way.

Situation 2: Maybe you are getting ready to make a big purchase and you would like to be better educated about your current credit status. There is nothing like a educated consumer that knows his or her current credit scores to get better rates and terms.

Situation 3: Maybe you are getting ready to get married, and some of the cost involved with the marriage will need to be financed. There is nothing more embarrassing than telling your new fiancée that you got denied for some items for your wedding that needs to be financed.

Situation 4: Maybe you just got married and its time to start house hunting. You never really discussed your past credit issues, and now this matter will be out in the open pretty quick. You have some doubts about getting approved for a mortgage. Its better to get a peace of mind, instead of having a lender tell you and your significant other you have credit issues.

Situation 5: You just had your wallet or purse stolen, and you are pretty sure someone is having a field day with your credit cards, check book, etc…….. I would get a current copy just to see what they are doing. ID theft happens every 3 seconds.

Situation 6: 1 in 4 Credit Reports have errors serious enough to disqualify consumers from buying a home, opening a checking account, or getting a job. Recent study was done where 197 credit reports were pulled in 30 states, and 79% had some error on it.

These are just the tip of the iceberg when it comes to the sense of urgency in pulling a current copy of your free credit score report. I believe this give some reality to the situation, and how important it is to know your creditworthiness.

About the Author: Mike Clover is the owner of http://www.creditscorequick.com/. CreditScoreQuick.com is the one of the most unique on-line resources for free credit score report, Internet identity theft software, secure credit cards, and a BlOG with a wealth of personal credit information. The information within this website is written by professionals that know about credit, and what determines ones credit worthiness.

Bad Credit Credit Cards

Bad Credit Credit Cards are with in your reach believe it or not. Credit card companies know there are circumstances where families get into trouble and need to re-establish credit. Maybe you don’t have any credit, and need to get something going right a way. There is help right around the corner for all your credit rebuilding needs. Learn the first step in reviving your credit with bad credit credit cards.

Orchard Secure Credit Cards

Let’s assume you have bad credit, and you decided to go to a credit repair company. Guess what the first thing they do is? They refer you to a secure credit card company to re-establish new credit. The process of rebuilding your credit is to get new credit reporting to all 3 credit bureaus. The fastest way to do that is to get a secure credit card. Typically the requirement is to make a deposit between $200.00 to $300.00 dollars with the credit card company to get matters underway. I have seen individuals with a 500 credit score get approved. There are also other cards that guarantee approval for a secure credit card. That may sound kind of weird, but yes you can get denied for secure credit cards even though you give them your own money. Lets assume you get denied for a secure credit card, what then? I will explain in the next paragraph.

New Millennium Secure Credit Cards

There is help if you get denied for a secure credit card. New Millennium guarantees approval. The fee might be higher, but at this point you really don’t have a choice. You are on a race to get something good reporting on your bad credit report. This card is the trick and will get you promptly on the road to recovery. There are other cards out there, but these are the two that get it done. This card is ideal for individuals who maybe have just got out of a bankruptcy and need to get matters in the right direction quickly. Maybe you just had a foreclosure because of an ARM adjustment and the payment sky rocketed out of control. What ever the case, this card guarantees approval.

Secure Credit Cards

Here is a list of circumstances that make these cards ideal for you.
1.. Young individuals trying to establish credit.
2. Just got out of a Bankruptcy
3. Recent Foreclosure
4. Everything went to collection
5. Never have established credit and got denied for a loan recently for lack of credit


About the Author: Mike Clover is the owner of http://www.creditscorequick.com/. CreditScoreQuick.com is the one of the most unique on-line resources for free credit score report, Internet identity theft software, secure credit cards, and a BlOG with a wealth of personal credit information. The information within this website is written by professionals that know about credit, and what determines ones credit worthiness.

FTC Credit Report Repair FACTS – For Consumers

The FTC claims that Credit Report Repair may be better for you if you do it yourself. You have seen advertisements on TV, local newspapers, internet. All of these credit report repair companies claim the following:
• “Credit Problem? No Problem!”
• “ We can get rid of bad credit problems – 100% guaranteed”
• “We can remove bankruptcies, judgments, bad loans and tax liens from your credit file forever

The FTC says “Don’t believe these statements. The only thing that will fix your credit is time, conscious effort, and a personal debt repayment plan will improve your credit report.

This article will explain how you can improve your creditworthiness and gives legitimate resources for low or no cost help.

The Scam

All over the US companies appeal to families and individuals that have bad credit problems. They promise for a fee, to clean up your credit report so you can get a car loan, a home mortgage, a job or even a insurance. The fact is, they cannot deliver. After you pay them hundred of dollars or even thousands of dollars in fees, these companies do absolutely nothing to improve your credit report. They typically vanish with your money says the FTC.

Warning Signs

If you feel credit repair with one of these companies is your choice, look out for the following.
• Companies that want you to pay before services are rendered
• Companies that don’t tell you your legal rights and what you cannot do yourself for free
• Companies that recommend that you don’t contact the credit reporting companies
• Companies that recommend you create a new identity by way of Identification Number.
• Companies that advise you to dispute all information in your credit report

Under the Credit Repair Organizations Act, credit repair companies cannot require you to pay until they have completed services they claim they can provide. The FTC says to get what they claim they can do in written, and once it is done then pay them.

The FACTS

No one can legally remove accurate information from you credit report. If you owe the debt, it will be on there for 7 years from original collection date. The law allows you the consumer to dispute inaccurate information on your report for FREE. There is no cost to you for doing this. Everything a credit repair company does for a fee, you can do it yourself for FREE. This is all in accordance to the Fair Credit Reporting Act (FCRA)

 You are entitled to Free Credit Report if you are denied for the following
1. Credit Application
2. Insurance
3. Employment

You are to ask for this report within 60 days of receiving this notification. You are also entitled to the free report if you are unemployed and are about to apply for job, if you are on welfare, or if your report is inaccurate because of fraud including identity theft.

 All 3 Credit Bureaus – Equifax, Trans Union and Experian are required to provide you once a year with a Free Credit Report. In order to get this report you must go to annualcreditreport.com.
 You are allowed to dispute items that are not yours for free. Under the FCRA any company that is reporting information about you that is inaccurate, this information must be updated correctly. If you owe the debt it will not be removed.

Step One

The consumer credit reporting company that is reporting information incorrectly about you must be informed in writing what information is inaccurate. You are to include a copy of documents backing your claim. You are to clearly identify in the claim the following
1. Your full name
2. Address
3. The item in the report that you are disputing
4. The request that it should be removed or corrected
5. Enclose a copy of the report and circle the item in question.

Your credit report dispute letter may look something like this:

Date
You’re Name
Mailing Address
City, State, Zip
Re: Disputing Inaccuracies on My Credit Report
Name of Credit Reporting Bureau
Mailing Address
City, State, Zip
Dear Sir or Madam:
I am writing for two (2) reasons:
1. To dispute certain information in my credit file; and
2. To have you investigate/re-investigate and remove inaccurate information from
my Credit Report and prevent its re-insertion. The item(s) I dispute are encircled
on the attached copy of the credit report and further identified by (identify the
items by name of source, such as creditor or tax court, etc. and identify type of
item, such as credit account, judgment, etc.)This item is (inaccurate or
incomplete) because (describe what is inaccurate or incomplete and why). I am
requesting that the item be deleted (or whatever specific change you are
requesting) to correct the information.(If you are enclosing documents such as
copies of cancelled checks, payment records, court documents, send copies
only, you should always retain the originals -- and use the following sentence.)
Enclosed are copies of the following documents supporting my position:
1.
2.
3.
Please reinvestigate this (these) matter(s) and (delete or correct) the disputed
items within the time frame required by the Fair Credit Reporting Act (FCRA) and
inform me in writing of the outcome. Thank you for your time and consideration in
this matter.
Sincerely,
________________________
(Signature)
Your name

Once the investigation is complete, whether they removed the item or not, the creditor must give you something in writing. If the information was deemed incorrect, then they must remove it, and not put it back on your report.

Step Two

Advise the creditor or other information provider, in writing, that you dispute an item. Be sure to include copies only, not your original supporting your claim. The creditors usually provide an address for disputes. If the creditor reports the items to the 3 credit bureaus, they must include the dispute during the reporting time. If you are correct, the creditor must remove the item from the Bureaus it’s reporting too.

For information on “How to Dispute Credit Report Errors, go to ftc.gov/credit.

The reporting of correct information

When negative information is being reported about you, and it’s accurate the only way it will go away is with time. A consumer credit reporting company can report negative information about you for 7 years and bankruptcies for 10 years. Judgments can be reported for 7 years or until the statue of limitations run out.

Credit Repair Organization Act

By law credit repair companies must give you a copy of the “Consumer Credit File Rights Under State and Federal Law” before you sign any contract. They must also give you a written contract that specifies your rights and obligations. Read these documents carefully before you sign anything.
Example of what a credit report company cannot do:

 Charge you for anything until services have been completed
 Make false claims about there services
 Provide any services until they have your signature on a written contract and have completed a 3 day waiting period. During this time you may cancel the contract without any fees occurred.
 Payment terms for services rendered, along with total cost
 Detailed description of services you are paying for
 How long it will take to achieve results
 Any guarantees they offer
 Company address and name


Check your Credit Report at least 4 to 5 times a year.

Even if you don’t have poor credit, you need to know what’s on your credit report. Here are some good reasons per the FTC.
 Because the information it contains may affect whether you get a loan and the payment terms for that loan
 Make sure the information is accurate, complete, and up to date before you apply for a mortgage, credit card, car, insurance or even a job.
 To help guard against identity theft


Hopefully this has shed some light on credit repair, and the importance of have a recent copy of your free credit report.

About the Author: Mike Clover is the owner of http://www.creditscorequick.com/. CreditScoreQuick.com is the one of the most unique on-line resources for free credit score report, Internet identity theft software, secure credit cards, and a BlOG with a wealth of personal credit information. The information within this website is written by professionals that know about credit, and what determines ones credit worthiness.

You’re Credit Report during a Divorce- What to avoid

I have seen credit reports get littered with collections, charge offs, foreclosures, late payments, and just a total disregard for obligations during a divorce. We all know divorce can be a bad experience for anyone that is going through it. There are times where everything is paid on time as well, but the divorce attorney does not know what will affect your credit report in the long run if the divorce decree is not drawn up properly. Here is what you need to know!

Get debts that are not your obligation per Divorce Decree out of your name:

During the process of drawing up the divorce decree make sure you get obligations out of your name that is no longer your responsibility. Make sure that in the decree it clearly states that the other party is responsible for getting obligations out of your name.

Examples:

1. Mortgages; get them refinanced or sold.
2. Credit cards that are joint accounts
3. Land that are joint accounts
4. Car notes that are joint accounts
5. Any obligations that is joint, that is no longer your responsibility per decree.

This is a huge problem out there, getting divorce decrees drawn up properly. Let’s assume it’s done the wrong way, and the person that is responsible for paying the obligation is late on a payment or two. This particular account is a joint account with your social attached to it. This means the obligations reports to the credit report in your name as well. You now have 2 late payments on your credit report, and you credit score just dropped 50 to 100 points. I am sure you can see why it’s important to get this process done correctly. Maybe there is a house that is in both of your names, and you are in the market to buy another house. Unfortunately the attorney did not put in the divorce decree to either sell the old house or refinance it out of your name. The mortgage is a FHA loan, and you only qualify for a FHA loan. Guess what, you cannot have two FHA loans. Now you cannot buy a house. I am sure now you can see the importance of getting a good divorce attorney, and how they need to prepare your divorce decree properly. I see this problem all the time.

Conclusion:

I see this all the time, make sure your credit report is not affect as a result of a divorce. Matters could get worse if you don’t have obligations drawn up correctly during this unfortunate process.

About the Author: Mike Clover is the owner of http://www.creditscorequick.com/. CreditScoreQuick.com is the one of the most unique on-line resources for free credit score report, Internet identity theft software, secure credit cards, and a BlOG with a wealth of personal credit information. The information within this website is written by professionals that know about credit, and what determines ones credit worthiness.

Free Credit Report; is it necessary during today’s times?

Credit Worthiness

Free Credit Reports are plastered all over the place, internet, TV, radio, and mail. The need to know is so important these days because everyone wants to know your credit. The current credit crunch that is taking place is making it tough to get loans, jobs, credit cards, and / or new place to rent. We all know things come up and cause credit issues, but if your credit shows a pattern of credit problems creditors want to know your risk. The foreclosure boom that is taking place now has almost put some of the biggest banks out of business. Fair Isaacs’s new software Next Gen is so precise in determining your risk, it will be the standard for calculating your score. With this new software it will soon be adopted with Freddie and Fannie in the underwriting decision process. Call me silly, but it looks like having your free credit report during today’s times is a must.

Identity Theft

The digital age has also has made your information accessible, and if there is some kind of security breach you would never know unless you signed up for credit monitoring services. The 3 credit bureaus now offer credit report monitoring services. Since this is a huge problem, this is another reason to have a copy of your free credit report to see if there is anything on there that may not be yours. Identity theft is such a huge problem that you cannot take any risks. According to statistics, once you have been robbed of your good name, you will be out of pocket somewhere in the range of $8,000. Identity Theft does not care who you are, they will steal you blind and destroy your credit.

Save Money

Having a copy of your Free Credit Report will save you money on credit cards, bank installments, mortgage rates, and just about any loan you apply for. In past articles we have discussed how you would end up paying thousands of dollars more because either you were not educated about your report, or you just had bad credit period. The result was creditors charged high interest rates on borrowed money. Just imagine if you could save an extra $200.00 dollars a month because you knew your credit scores and what was being reported about you. $200.00 dollars a month over 15 yrs is $36,000 dollars saved not including interest earned. If you start to really get down to the nuts and bolts of your personal creditworthiness and how it can affect your life I would say it’s pretty darn important. I would not wait any longer, get your report today and be an educated and protected consumer.

About the Author: Mike Clover is the owner of http://www.creditscorequick.com/. CreditScoreQuick.com is the one of the most unique on-line resources for free credit score report, Internet identity theft software, secure credit cards, and a BlOG with a wealth of personal credit information. The information within this website is written by professionals that know about credit, and what determines ones credit worthiness.