fix credit score online

David Cooke asked:


Every day I meet people who want to buy a home.Some of them are in their twenties but some of them are in their thirties and forties and they know nothing about credit. I decided to put together a simple list of ways to improve your credit. Follow these steps and you can improve your credit score. This will result in lower interest charges for you. You can save thousands of dollars in the future. Are you feeling motivated? Read below and start saving money.

10. Check your credit report every year. Knowing what your credit score is is the first step in improving it. In this age of identity theft you might find someone using your name and credit history and fix it before the police come calling.

9. Don’t apply for new credit cards that you don’t need. This could lower your score.

8. Try to keep your credit balances as low as possible. You can also ask the lender to increase your credit limit which can increase your credit score.

7. Correct any incorrect information on your report. Credit reporting agencies are notorious for the errors they have on credit reports. If you find an error call the credit reporting agency and tell them about it. If it is the bank or store’s fault get them to fix it.

6. If you have damaged credit consider opening new accounts and paying them off promptly. This can add 30 points to your score in a year.

5. If you do not have credit consider getting a secured credit card. This is a credit card where the consumer makes a deposit to the credit card company of $500 . for example. He then has $500. worth of credit on his card. This is a great way to establish or re-establish credit.

4. Pay bills on time, since any payments more than 30 days late will affect the credit score. Note that a bill issued March 15 with a due date of March 31 does not become 30 days late until April 30, but if you have the means, pay earlier rather than later. A single late payment may result in a drop of over 20 points.

3. To minimize the number of inquiries on your credit report don’t apply for multiple credit cards . If your credit rating is important to you, then you also need to consider that when you shop from lender to lender, there is an accumulation of inquires on your credit bureau report, affecting your credit rating and ultimately the rate and terms of your mortgage. This isn’t the case with a mortgage broker who only does one inquiry yet can still get many competing lenders to quote on your business.

2. After you buy a home don’t go out and buy all the furniture to fill it. This will lower your score and pose a problem when the lawyers are closing the deal. Lenders often check your credit 5 days before closing and will refuse funding if the score has dropped too much. Don’t be fooled by “Don’t pay until 2007″ ads. The full cost of the items purchased will be showing on your credit report and lower the score accordingly.

1. And finally the Number 1 way to improve your credit score….

If you fall behind in your payments due to illness, unemployment or family issues TALK TO YOUR CREDITORS Arrange a payment schedule with them.. Talking to them is a lot better than having them call you with threats of foreclosure or bailiffs’ seizures.

David Cooke is a senior mortgage consultant In Calgary Alberta, Canada. You can find more information by calling him at 403-836-1201 or by visiting his website at: www.mortgagealliance.ca/davidcooke



Glenn

Brandi asked:


My husbands ex girlfriend store our SS#’s (from a police report that we filed on her, she got a copy). She then took it apon herself to open up 16 credit cards between the two of us and the bills sent to a PO box that was in her friends name. She maxed the cards out (most of thm were only 200 and 300 bucks) and then tossed them. I have filed another police report but the credit card companys are still holding my accountable. SOOO… we have been placed with a credit consoldation company so that we can actully pay this stuff off (taking this chick to civil court….). And these accounts have been closed. There are a few other things that are on our credit from us and we are working to pay those things off as well. We have been working on this for almost a year now but our credit scores are in the low to mid 400’s ( REALLY BAD )

How can I get this fixed? Or am I on the right track? For the last year everything has been paid on time, and I think that the closed accounts are what is hurting me the most. What can I expect? And when can I expect this to get better?

Carlos

Mike Samadi asked:


(Copyrighted Material)

When having problems and seeking help, it becomes very easy to get fooled by incorrect ideologies. A person is most vulnerable during time of stress or loss of a loved one. At the tough times, you should not make important decisions.  However, when it comes to your credit and your report, delay has more negative impact than acting immediately. Most financial problems don’t go way by themselves. When a bill is sent and you don’t reply, that bill or company (sender) won’t go away. If you ignore…

Are you tired of throwing most of your income towards interest rate and fees on credit cards, auto or mortgage loans?

Do you have interest rate of over 11% for auto loans or credit cards?

Is your mortgage interest rate several points over the federal lending rate (interest rates over 8%)?

Do you have a judgment on your credit report?

Are you hanging on the ballet, counting days to file bankruptcy?

Is the IRS or your state department of revenue repeatedly sending you letters, demanding money for back taxes, interest and penalties owed?

Is your auto on its last leg and you don’t have the money or credit to fix your transportation?

Are you unable to get a loan because of your credit report – credit score?

Are you being repeatedly denied loans for auto, home or business?

Are you pulling your hair, not knowing what to do – paying so much to the so-called credit repair companies -waiting months at a time hopping they will fix your credit one day?

Then, you need to take a step forward, admit (to yourself) you have a major problem, stop being depressed, STOP BEING EMBARRESSED, take the initiative to fix your credit and learn how to keep your credit in a good shape for the rest of your life. If you think it is embarrassing for someone to know you have bad credit then, think about the embarrassment you’ll face when you lose your car through repossession or home in a foreclosure. When you do your own credit repair or ask an expert, how will you get embarrassed? You are taking a step to improve your life. If you think someone may look down at you, then guess what, that person jealous of you. No one around you (family or friends) knows what you are doing and who cares if a stranger knows. You will never see or hear from the stranger you bought a book from. Plus, a lot of people buy all sorts of book to learn more or to add on to their library. Just because you pick up a book, the whole world doesn’t think, OH! You must have credit problems. I know quite a few people who have credit score over 800 and hundreds of thousands of dollars in their accounts yet, got a copy of my book. In fact, an attorney out of N.J. purchased my book and placed a review on couple of sites (where my video was viewed and the site my book was purchased).

There are four (4) groups of people in this world. Let’s see what group are you in.

The first group of people is the blamers. The ones who love to cry on other people’s shoulder blaming everybody else for their down falls. Let me give you an example of what this group does. They claim it was their spouses, roommates, girl-boy friends, family members or the neighbors that caused their problems. As a result, they won’t do anything to fix their problems, expecting the person who created the problem should step forward and fix it.

The second group is the procrastinators. This group, will never take any initiative and they wait and wait, counting days saying to themselves, “I am going to start after” my birthday, wedding anniversary, the holidays, the child’s birthday, and a long list of excuses. However, that day comes and passes by and this group never starts.

The third group believes on “uncertainty.” This group wants to do something but not sure how to do something and the suspense of what the result is going to be eats them alive. Therefore, they will never start; because, they are waiting for someone to hand feed them, take their hands through every step of their lives. They think because there was always someone who was doing the work for them, there is no need for them to do it themselves. They say, “I want to do it, I never done anything myself. Even if I did something, someone had to show me. I can NOT do it by myself…” This group will also not succeed because they have the negative thoughts built-into their behaviors/minds also.

The fourth group is the block builders. This group can solve any problem at anytime without instructions and are ready to take on any and all tasks with a little or no push. These are the go-getters in our society. We can throw any problem in their path and they will find a way to overcome the problem. Most of these people don’t even need instruction manuals to assemble or disassemble anything. They will figure out on their own and possibly even find a shortcut that would work better than the manual that accompanies the item. These people don’t understand the word “NO.” They don’t know the word “impossible.” They can’t stand discouragement or discouraging people. Everybody else calls them “very smart,” “brilliant,” “responsive,” “determined,” “persistence,” “relentless” or a long list of other names.

Okay. How are YOU called? What group are you in?

At the same time that you want comfort in your life, you must understand what makes it happen. There is nothing wrong with wanting a better vehicle (a good transportation), a place you can call home, good furnishing – whatever your heart desires. However, these come at a cost. The cost can either be the high interest rate and unreasonable fees you pay for the loans you receive, be denied repeatedly for the loan applications you submit, or simply take the appropriate measure and do credit repair so that your financial trouble could go away.

If you haven’t learned yet, your credit “IS” your life, you MUST fix your credit now. You must learn the true trick of how to repair credit, improve your credit score, manage credit and money and turn your mess of finances around. Do the credit repair yourself and be proud of your own accomplishments.

We understand that you may not know how to begin or how to overcome a situation when you are stuck. That’s why we are here to help. First we have published books that teach you every step of self-credit repair. The books also teach you money and credit management (after credit is fixed). These books make you independent. You will NOT need anyone’s help. It requires your own motivation and determination. However, if you get stuck and need a hand, a push or a direction; we are also here to help you with that. Our website is available to answer most of your questions. Others asked us questions and their answers were provided to them (without mentioning their names). There are Q & A and comment sections on our website designed to help you with your needs and help push you go forward.

Whatever you do, please don’t sit and wait thinking that a “credit fairy” will drop on your lap and your credit repair is going to be automatic, without you taking any steps.

The groups “procrastinators”, “blamers” and the “uncertain” will never accomplish a task or complete a task. You can be like them and continue feeling sorry for yourself for the rest of your life. However, after a while, cry-wolf will lose its affect and situations won’t get any better (if they don’t worsen).

As the title of one of our book says, “Bad Things Happens to Good People.” However, those good people make their mind to change their life styles and won’t allow the trouble of the past be a burden for their future.

Therefore, my dear reader, I ask you to start now, take a step forward, go to the website link, read the existing questions and answers, post questions, look at the books (pick up a copy of the books) and initiate your credit management repair now.

God Bless.

Mike Samadi

You can go to my website and post your questions. Your personal information will remain confidential and is NOT sold or shared with anyone else.



Bill

r0ckergirl14 asked:


“If people can get loans and deals even with bad credit, then why improve it?”

This is a common misconception among many people who think that if they can get by even with bad credit, then why bother fixing or improving it at all?

The truth about it is, the reason companies approve loans and credit cards even for people with bad credit history is that these companies earn more that way. You’d be allowed to get those loans and credit cards, but you pay the price: higher interest rates.

Did you know that the current average credit score is 720? That’s not bad, considering that as a rule, anything below 600 gives people with bad credit the risk of paying interest rates higher than those with better credit scores.

Basically, these are the factors you’d need to consider to improve your credit score:

1.    payment history

2.    total debt owed

3.    length of credit history

4.    types of credit used

5.    new credit

Now don’t be bothered if you found out that you have bad credit—it can be fixed. It may take months or even years, but it can be fixed. The best thing you can do is to always pay your bills on time and keep your balances as low as possible. But what if the damage has been done (you weren’t too careful in the past)?

Fortunately, there are other steps you can take to fix (or at least improve) your credit score:

First, get a copy of your credit reports from all three major credit bureaus (Trans Union, Equifax and Experian). You can get these at absolutely no cost, either by asking one from those three or by going online and visiting any of the free credit report sites. Every individual is entitled to one free credit report from them each year.

Second, learn to budget. Knowing your credit score will at least give you an idea of how much you should spend and how much should be put into paying off your bills. A good tip is to pay off those with higher interest first because you’ll end up saving money compared to paying the same amount on two or more lower interest cards, loans or bills.

And third, a change in your shopping habits is mandatory. More often than not, impulse buying (or unplanned shopping) is what causes people to go into debt in the first place.

Just keep these tips in mind and always be aware of your purchases, and you’ll find that your credit has gone from terrible to really good in no time.



Rhonda

ALDREENA M. FEREBEE asked:


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By Aldreena M. Ferebee

What is a FICO Score?

A credit or FICO score is a numeric representation of a person’s credit profile and it is the name for the most well known credit scoring system. The acronym FICO stands for Fair Isaac Company, a California firm founded in 1956 by Bill Fair and Earl Isaac.

History

The FICO score has been around for many years, then in 1995, the mortgage and lending business started using them for the primary purpose of keeping down the expenses associated with Home Equity loans. These scores are now used by Freddie Mac and Fannie Mae in conjunction with their automated underwriting systems. In 1996 the Federal Government insisted on using a credit score on all credit reports. The scores are based on years of computer modeling aimed at predicting who might be a credit risk. There has never been a published model of how the score is derived. The secrecy of the FICO model reduces the likelihood of manipulation. The FICO score is used by all three credit bureaus (Experian, Trans Union, and Equifax). The credit bureau’s computers evaluates a complete credit profile and assigns a score that is used to estimate credit worthiness.

Purpose

Each bureau uses its own scoring system; each person being evaluated in the system will have 3 separate scores. When a person applies for credit and receives a high score, they are viewed as a better credit risk to lend money to than a person with a lower score. This rating system consist of several factors from your credit file that includes length of credit history, number of open accounts, loans, mortgages, and public records. The factors used are formulated to produce a 3-digit score between 300 and 950. If a person’s credit score is above 680, they are considered a “prime” or low risk in terms of the lender who wants to lend money, or the landlord who wanted to rent or lease to you. If your score is below 680, you are “sub-prime” and fall in the middle category in terms of risk of renting and leasing. It doesn’t mean you shouldn’t get a rental/lease, but you may be required to go a step further and provide a security deposit for the first and last month rent payment before a person moves in. Anything score below a 560 is considered a “shafted’ score and this person is not considered a good credit risk.

Elements of the FICO Score

The FICO model has 5 main elements:

1) Past payment history (about 35% of score) the fewer the late payments the better. Recent late payments will have a much greater impact than a very old Bankruptcy with perfect credit since.

2) Credit use (about 30% of score) Too many credit cards can bring down the score, however, closing these accounts can sometimes do more harm than good if the entire profile is not considered.

3) Length of credit history (15% of score) the longer the account has been open the better the score. Opening new accounts and closing seasoned accounts can bring down a score a great deal.

4) Types of credit used (10% of score) whenever a person uses a finance company account, it may lower the score. Bank or department store accounts are better accounts to be open.

5) Inquiries are (10% of score) multiple inquiries can be a risk if several cards are applied for or other accounts are close to maxed out. Multiple mortgage or car inquiries within a 14 day period are counted as one inquiry.

Other factors that affect your FICO score are:

Number of outstanding balances

Balances owed vs. credit available or high credit

Number of balances opened in the last 6 months

Too many revolving accounts

Too few revolving accounts

Excessive credit inquiries

Delinquencies

Too many accounts opened within the last twelve months

Short credit history

Number of 30, 60, and 90 day late payments

Public records that include; judgments, tax liens or bankruptcies

Length of credit history

Recency of any slow pay history

Balances on revolving credit are near the maximum limits

No recent credit card balances

Repairing your FICO Score

Now that you understand how the FICO credit score works lets look at how to improve your credit score. As you read above the credit bureaus use various components in order to get your credit score, this means that you will have to review these same components of your credit report in order to fix it.

- The first thing you must do to improve your credit score is fix the payment history category. Pay your bills on time, if you pay on time, creditors will not submit a past due report to your credit report. If you can’t pay on time, notify your lender that you need to work something out. Get current on past due accounts

- Keep low balances on your credit cards, stay well below your credit limit – 35% or lower is best. Don’t open new accounts just to lower your used credit ability – having too much credit is a risk too old accounts open if you’ve been a good borrower.

- If you have no credit start building your credit as soon as possible and when shopping for new credit, keep it all within a short time frame no more than 14 days or less. If a borrower has a bad history, they can improve their credit scores by opening a new account and managing it sensibly.

- Having installment debt (where you pay fixed monthly installments to eliminate the debt) is “better” than revolving debt or (open-ended credit card debt). Certain finance company debts (like buying a product with retailer financing) can lower your score. In long run, it will take time and discipline to improve credit scores.

In conclusion, your credit score can only be changed by the way that item is reported directly to the credit bureaus (Experian, TU, and Equifax). Fixing those negative factors in your credit report will raise your score. It is best to make these corrections before you try to purchase a home, because you can never be sure the exact impact a change will have on your score. When all negative factors are fixed, written confirmation from the creditor will be required to show the lender that your credit report is updated and all negative factors fixed and the way to do it follow this formula.

Fico Formula – http://blessed476.mmhabits.hop.clickbank.net/

Credit Repair Secrets – http://blessed476.sell2005.hop.clickbank.net/

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 





















 

 

 

 









 

























 



 

















Danielle

Tom Conrad asked:


Most Americans have errors and other unverifiable notices on their credit reports that can be bringing down their over-all credit score. There’s a very good chance that even YOUR credit score is lower than it SHOULD be! Sadly though, there is a good chance that you will be like most of the millions of Americans who will continue to suffer with an unfair credit score because you haven’t done anything to fix your credit.

Most Americans want to believe that the current credit reporting system that we use works; that people “earn” their bad credit scores and that there is nothing that can be done to fix it other than wait out the seven (7) years. This is simply not the case. Studies have proven that the current credit scoring system is flawed. This is why the Fair Credit Reporting Act and other consumer protection legislation give you the ability to do something about it. They give you the legal right to know and challenge items on your credit score.

So if it’s free and easy to check your credit score, why aren’t more people doing it? It certainly can’t be because they don’t understand the importance of having a good credit score. After all, it doesn’t take an Einstein to recognize the benefits of a good credit score when it can be the difference between paying $3,500/month and $3,000/month for the same exact house.

More likely, the reason we don’t repair our credit is a mix of apathy and lack of understanding of the credit reporting system. Too many people assume that the credit reporting system is some kind of official or governmental system with an extensive system of checks and balances in place to ensure the safekeeping of credit history. The reality is that it this couldn’t be further from the truth of how it really works.

The credit bureaus which control the credit reporting system are not official government organizations. In fact, they are massive for-profit corporations that collect personal information from your creditors and then make money by selling this information (about you!) in the form of your credit reports.

So now you are asking yourself, how do these corporations make sure that this information is correct? If a creditor reports something that is wrong, how do the credit bureaus ensure it doesn’t end up on your credit reports? What’s stopping false claims?

The answer to all three questions is: they don’t. Your creditors report information, the credit bureaus record it in their databases, and for the majority of Americans, the story ends there.

No one at the credit bureaus or in the government is going to make sure your credit reports are accurate. There is absolutely nothing in it for them to perform any such checks. The way that the credit system is organized is that there is only one person who will ever bother to check up on your credit reports – YOU. You are the part of this entire system that is missing.

Making sure that your credit score is where it should be is your biggest responsibility as an American and repairing your credit reports is something that you and only you can initiate. It is your legal right to dispute any questionable negative items on your credit reports and the sooner you start this process, the better off you’ll be. You can work to repair your credit on your own or you can enlist the help of a credit repair law firm.

Whether you attempt to repair your credit by yourself or with the help of a credit repair expert, by taking an active role in our credit reporting system, you will be able to ensure that your credit score is as good as it can be. Not only that, but by making sure that your score is correct, you’ll have a leg-up on the millions of other Americans who still have un-corrected credit scores!

For more information on your credit score, safe resources to check and dispute your credit history, and much more please visit the Home Finance Journal.



Melissa

TENTLADY asked:


I bought a forclosed home and paid cash. My “Money Pit” needed and still needs many repairs. I’m out of money and need a loan. I’m on a fixed disability income from the Gov’t. and my credit score is REALLY bad. I’ve been battling Crohn’s disease, Lupus, Sarcoidosis, Asthma and a few other chronic illnesses for several years spending alot of time in hospitals, and too much money on Doctors and medicines. I get NO help.
I don’t qualify for public assistance because I was always too ill to have kids.
I was blessed to find this house but I stilll need a loan.

NOBODY will even talk to me. My house is worth WAY over what I paid. But I got it cheap because of the MOLD issue.

My house needs repairs and I’d like to convert to Solar power, Get Rain Barrels and Prep my house for Hurricane season. (My house previously had damage from Hurricane Charly. I’d like to pay off my medical bills (and a few other bills) and “I” need repairs. I cant even go back to any of my doctors because I owe money.

If I can get loan 25k to 30k I can pay off everything, fix my home and improve my credit. If I get the Solar Power and rain barrels I can Lower my monthly bills. I also had a Whole house generator for storm season, but it was Stolen. Also, My 80 year old Mom who has been helping care for me was just diagnosed with Breast Cancer. We are trying our best to care for each other.

Please help. I don’t want to end up filing bankruptcy unless I ABSOLUTELY have to.

Thank you.

If you know of anyplace that I can go for a LEGITIMATE loan (or a Grant), please send me a response.
If you are a lender, please also provide a telephone number and a location where I can find your BBB references.

thank you

Steve

[[LakerGo]] asked:


I was told that I need to raise up my fica score so I can get a car loan.

Jackie

Le2007 asked:


Last year I became sick and had to relocate to my parents home which caused me alot of financial strain. I am still working for my company but it took me a long time to start making a regular paycheck. I recently saw my credit score and it was “438″ agggggg!! I was hoping to one day buy ahouse and this was a terrible blow. I do understand my tardiness on paying my bills would affect my credit but how do I fix it! Can someone help!

Terri

Xylene Belita asked:


Do you think you need to repair your credit score fast? Does your credit report have some negatives on it? Do you have poor credit record? Have you ever made a lot of loan applications and missed some payments in the past? Then these tips on how to repair your credit score fast will show you how to deal with your problem permanently.

1. Correct Any Mistakes on Your Credit Report

One of the first things you should do if you want to repair your credit score fast is to correct any wrong info from your credit report.

Write to the credit bureau and request to correct the mistakes on your credit report. If in cases that they do not agree with you that it was a mistake, you can add a comment onto your credit report to explain. But, be sure to keep your comments neutral, and there is no accussation to anybody.

2. Create A Financial Plan

After taking care of any mistakes on your credit report, then you must start to manage your finances in a much better way. You should set a budget and stick to it. Only buy what is truly necessary for your needs.

3. Keep Your Credit Cards

If you want to to raise your credit score fast, you should maintain a good payment history on your credit cards. Use your credit cards only for necessary purchases. 

About two to four credit cards is a good number to have. You will not be able to repair your credit score fast if you only have one credit card. Also, if you have more than four credit cards, you would have a bad credit report. Having too many cards with large balances on them would not help your credit score. You would probably be better off financially and for your credit score if you consolidate some of your debts into a lower interest loan. However, you should not really overdo it.

If you need to reduce your number of cards, drop the newest credit cards first. An older credit card will count for more points as you start to improve your credit score.

4. Always Send Payments on Time

Of all the ways to repair credits, it is very important to always pay on time. You should never miss a payment on any loan or bill that will show on your credit report. Even if a loan company or credit card company offers you a month or two grace periods as extension to make payments, it is better if you do not accept this offer. Missing the due date may still show as a missed payment on your credit report. So, it is better for you to make your payments on time, if you really want to repair your credits. Also, be sure that your payments are received on or before the due date.

5. Pay More Than The Minimum

When it is possible, send credit card payments that are more than the minimum amount due at any time that you can. It will help your credit rating, save you on interest, and would bring you closer to debt relief.

Take note not to max out your credit cards. Ensure that the balance amount is way below your credit limit. This will help improve your credit report.

6. Don’t Make Too Many Loan Applications

Applying for too many loan applications will quickly flag you as a possible bad payer, so do not ever do it. Also, do not switch credit cards several times to take advantage of offers, or get new loans to pay off old loans.

To consolidate all your debts, just do it once. If you are shopping around for the best terms, try not to give out your name and address.

7. Make That Phone Call

If you are in a situation where you will have a difficult time meeting the deadline for a payment, do make that phone call. It is much better for you to call them, than waiting for them to contact you. If you are going to miss payments, they might start with the collection agencies, and that is really the worst thing that can happen for your credit score.

Talk to them briefly and explain your situation truthfully. Be prepared to make them an offer and negotiate. Create a payment plan that is realistic for you. If they will offer you two payment-free months, say something like: “No thank you, I would prefer to keep paying a little each month”. This will help you avoid missed payments showing on your credit record and proves that you are really serious to have debt relief.

When you have a new payment plan worked out together with them, do try to ask them if they would agree to stop reporting on you, so that you have a chance to repair your credit score fast. Many companies will agree to this request, as long as you commit to send payments on time and not miss any payments on your new plan.

Once you follow these tips, you will be able to improve your credit score quick. It will also help you to manage your finances and achieve debt relief in the future.



Gertrude