Owner: Expert Credit Tips URL:http://www.creditips.com/blog/index.php Join Date: Mon, 09 Jul 2007 09:17:56 -0500 Rating:0 Site Description: Expert Credit tips from Credit Expert Frank Bruno Site statistics:Click here
New Video- Disputing Items On Your Credit Report Multiple Times For Verified Debts 2007-07-06 13:59:38 I just released a new video in an ongoing series of “Credit Tip Videos” which I have been producing for Credit-Tip-Videos.com
This new video is the video version of my earlier blog post located here: http://www.creditips.com/blog/can-you-dispute-an-item-on-your-credit-report-multiple-times.html Where I answer a question that a consumer had asked about if they can dispute an item on their credit report multiple times if a creditor had verified the debt.
In my video version I go into much deeper detail and tell you what you should or should not do if your disputing items on your credit report. Specifically if the creditor has verified the debt as valid. I would highly suggest watching the video if you are even thinking about disputing items on your credit reports, (or if you have already disputed items),what you need to know for the most effective way to remove the disputed items from your credit report.
Frank Bruno
http://www.DisputeDemon.com
http://www.CreditSco Read more:Items
, Multiple
, Times
, Debts
How to Repair Bad Credit Due to Collection Accounts 2007-07-04 16:44:06 A good credit score will open a whole new world of privileges. You can own a real estate property; have high credit limits on credit cards and purchase vehicles even with just a small down payment. All these are possible as long as you maintain a good credit score. But what if you have had some bad financial judgments in the past that resulted to delinquencies and collection accounts?
Collection accounts are actually uncollected debts sold by your creditors to collection agencies in order to declare them as losses. These collection agencies obtain collection accounts but pay only a small portion of the original amount. Because they already paid for the debt collection, these collection agencies will try to employ scare tactics as well as other illegal tactics in order to receive payment fro these collection accounts.
Having collection account certainly translates to bad credit but it does not mean that you have to suffer needlessly. It is always the responsible thing to do to pay unp Read more:Repair
, Accounts
New Video-Top 10 Credit Report Killers 2007-07-01 14:59:04 I just produced a new video that covers the top ten credit report killers…
In this video I answer the most common questions I get about information that appears on credit reports.
Specifically I cover information on Charge-offs, Collection Accounts, Judgments, Inquiries, Bankruptcies, Delinquencies,and more…
You will learn what each of these items are and how they can affect your credit report, as well as how long each item can remain on your credit report.
I am now including this video free when you purchase “Credit Score Booster” from http://www.CreditScoreBooster.com
If you want to find out how you can watch My Expert Credit Tip Videos without having to purchase “Credit Score Booster”
Please Enter Your Name and E-Mail Address Below
First Name:
Email:
Frank Bruno Read more:Killers
, Credit Report
3 Ways to Avoid Late Payments 2007-06-29 14:03:27 With the rising cost of living and your busy schedule, there are indeed times that you end up missing payments on your bills, credit cards, car loan dues and even mortgage dues. If you are not careful, you will end up repeatedly paying late payments, which in the long run can be quite considerable. In addition to wasting money for something that could be avoided in the first place, you should know that late payments can also affect your credit score in a bad way.
Late payments are usually recorded on your accounts and they are considered as important factors in assessing your financial credibility. If you would apply for a loan re-structuring or try to avail of lower interest rates, your application would probably be rejected. Worse, repeated late payments can cost you several credit scores and you would be inconvenienced for a long time unless you do something about these late payments.
Avoid
ing late payments is actually simple especially if there are no financial issu
Can you dispute an item on your credit report that shows “no activity”? 2007-05-25 17:36:46 This question was asked so I will reiterate. That yes you can dispute accounts showing on your creditreport
as &ldquo
;n/a&rdquo
; (no activity) for date of last payment or date of last activity that is appearing on your credit report.
In fact I encourage to do this. That would be a prime classic scenario to get the item removed from your credit report if done correctly. I know many of you may not know what say when disputing or how to format the letters or where to send them. Thats why you will be really jazzed to hear that my Credit dispute software will be released very soon that will automate the credit dispute process and can raise your credit score 200+ points or more.
You can read more details about it here:
http://www.creditips.com/credit-dispute-software.html
If you can’t wait for my software to be released I have some credit dispute letters that you can use in the mean time in my E-Book “Credit Score Booster” found here:
http://www.creditips.com/credit-sco
How to Avoid Charge-Offs 2007-07-12 19:42:18 There is such a thing as healthy financial life. This part of your life involves having a good balance between debt and asset. To accomplish this, you must be conscientious about how you manage your finances and avoiding pit falls such as charge-offs. Although its name sounds like that the debt is being written off, you are still under the obligation to pay it or risk lowering your credit score even further.
Charge-offs are actually debts that were categorized as uncollected for tax purposes. A creditor would be allowed to consider them as business expense instead of profit. Although these charge-offs are bad debts, the creditor is still allowed to demand payment directly or using collection agencies. In some cases where the amount of debt involved is quite high, then a lawsuit might be filed.
In order to avoid charge-offs, you should remember these things.
Pay Bills on Time
A charge-off meant you did not pay your debt for approx. 180 days. Many people find themse Read more:Avoid
Judgments and Your Credit Score 2007-07-10 22:21:44 When applying for credit, whether mortgage, car loan or even a credit card, creditors check only one thing and that is your credit report. This report contains all relevant information about your credit as well as how you have been managing them. Your credit report is also the basis for calculating your credit score. If you want convenience, you should make sure that your credit score is high enough. Meanwhile, there are entries such as judgments that could pull down your credit score to another bracket.
When you see a judgment entry in your credit report, you have a big problem. Judgments mean that creditors have successfully sued you because you have not paid your debts with them. Unless there was an error made when the judgment was entered, you should make sure that you prevent this entry on your credit history. Here are some of the negative impacts of judgment entries on your credit score.
Higher Interest Rate
When you have negative entries such as judgments, you will be Read more:Score
How I Raised My Credit Score 40 Points in 24hrs. 2007-07-14 16:19:44 Credit problems are rampant in the United States. More and more Americans are getting into more and more debt. Consumer debt levels are at an all-time high. With increased debt inevitably come increased credit problems. Missed payments, late payments, collections, and in extreme cases, bankruptcy or foreclosure. With credit problems come lowered credit scores. Low credit scores, along with dinged credit, are the root of most credit denials, increased interest rates, and exorbitant finance charges.
Take the case of Frank Bruno. In 2002, he had his share of credit problems. Undaunted, he went to apply for a mortgage to purchase a home. Fortunately, he was able to secure an approval. The catch? He qualified only for a subprime mortgage because of his low credit scores. A subprime mortgage is a mortgage for people with low credit scores, high debt ratios, and a host of other criteria that normal mortgages can’t risk. Because of the increased risk that lenders take in issuing subprime Read more:Score
, Points
, Credit Score
3 Ways to Manage Charge-Offs 2007-07-14 16:00:12 There are many reasons why people rack up debts. It could be because of poor finance handling, emergency expenses, unemployment, divorce or death in the family. Whatever the reasons are, debts remained unpaid for as long as six months can be considered by the creditors as charge-offs. Although they sound harmless, charge-offs are probably one of the worst things you could have on your credit report. These records mean that you are high risk and creditors should stay clear of you because you do not pay your debts.
Having charge-offs is a serious matter if you want to enjoy the privileges that come with financial credibility. Charge-offs can actually be avoided if you are religious in paying your bills or speaking to your creditor if you missed payments. If you have not managed to avoid these charge-offs and have them on your credit report, there are actually three ways that you can manage them.
Wait for 7 Years:
All charge-offs are cleared from credit reports every seven years. If you Read more:Manage
How to Avoid Charge-Offs 2007-07-12 16:27:24 There is such a thing as healthy financial life. This part of your life involves having a good balance between debt and asset. To accomplish this, you must be conscientious about how you manage your finances and avoiding pit falls such as charge-offs. Although its name sounds like that the debt is being written off, you are still under the obligation to pay it or risk lowering your credit score even further.
Charge-offs are actually debts that were categorized as uncollected for tax purposes. A creditor would be allowed to consider them as business expense instead of profit. Although these charge-offs are bad debts, the creditor is still allowed to demand payment directly or using collection agencies. In some cases where the amount of debt involved is quite high, then a lawsuit might be filed.
In order to avoid charge-offs, you should remember these things.
Pay Bills on Time
A charge-off meant you did not pay your debt for approx. 180 days. Many people find themselves with a charge-off Read more:Avoid
Charge Offs: What They Mean to Your Credit 2007-07-16 20:52:59 A good credit score should always be maintained in order to have a healthy financial life. This means that whenever you want to borrow a loan or apply for anything that would require a good credit score; you will never encounter any problem. In the United States, you will need to have an impeccable credit history to be approved for a mortgage, car loan and even a credit card. Unfortunately, there are situations when you have trouble paying off all your debts. In cases where your debt becomes delinquent, it can be declared as a Charge Off.
Once a charge off was declared by your creditor, they would consider it as bad debt and would be allowed to include it in the Profit and Loss section of the debtor’s financial statement. This would allow your creditor to treat your bad debt as a business expense and the Internal Revenue Service would not demand any taxes on these items.
Although it is considered to be a bad debt, it does not mean that it would not be uncollected. Your creditor would
4 Ways to Avoid the Personal Debt Trap 2007-07-20 11:35:16 It can be said that the world is filled with many beautiful things that money can actually buy. These material things have become status symbols that define a person’s standing in the society where they live. Unfortunately, not everybody knows their limit when it comes to acquiring material things. Even if they cannot afford such luxuries, these people continue to make purchases using their credit. Naturally, they end up with huge personal debt.
If you want to avoid this embarrassing financial situation, here are three effective ways to avoid racking up huge personal debt.
Needs vs. Wants
When making a purchase, determine whether the item is something you need or want. For example, wanting to have a brand new pair of shoes even if you have plenty of shoes is not practical. Be honest with yourself as much as you can. Do not rationalize purchases. If your first instinct is to walk away because you do not need the item, follow it. Compulsive buyers have some trouble controlling their sp Read more:Avoid
, Personal
, Personal Debt
Removing Judgments From Your Credit Report 2007-07-18 18:44:14 If you have debts, it is natural that the creditor would try to collect. In order to collect, the creditor would use all means necessary including filing a case against you. You will be given 30 days to dispute the claim made against you. If you really owe the money, you should immediately try to contact your creditor in order to make a new payment arrangement that would be amicable to both of you. You will pay off your debts as longs as they agree not to press charges. You should do this in order to avoid a judgment record on your credit history.
Whenever a debt remains uncollected, your creditor could take you to court. If you were found liable, then a judgment will be issued in favor of your creditor. You will be given another 30 days to file an appeal although it would be a waste of time, if the debt is really your responsibility.
Judgments like collection accounts, charge-offs and bankruptcies can lower your credit score significantly. A ruined credit report will mean difficulties Read more:Credit Report
Taking Charge of Your Charge-Offs 2007-07-22 11:45:07 Almost everybody gets into financial trouble once in their lifetime. As a result, you may have been late in making payments or worse, miss payments entirely. If a debt remains unpaid for more than six months, then your creditor could declare it as a charge-off. Having a charge-off is really bad for your credit report. Aside from meaning that you have unpaid debts, it also would make creditors wary since you will be considered as high risk. You will surely find yourself rejected or denied in loan applications. It basically takes seven years before the statute of limitations of the charge-off is reached for it to be removed from your credit report.
Taking
charge of the situation is the best thing you should so. For starters, you should immediately contact your creditor and find out if they still have your account or they have sold it to collection agencies. The important thing for you is to know who will have the authority to negotiate the payment terms of your charge-off. As soon as you
Warning! Unsecured Credit Card Accounts. No Credit Checks. Guaranteed Approvals 2007-07-25 21:27:08 Warning before you even consider using companies that offer unsecured lines of credit with no credit check and guranteed approval to boost your credit scores consider this….
Go to Ripoffreport.com and search their system by the company name you are considering using. You may blown away by the shear number of consumers having issues with these type of companies. I know I was , and thats why I posted this within minutes after I saw an offer myself, did a little research and was completely blown away by the number of consumers being ripped off and left high and dry by these type of companies.
These type of companies offer $3,000 or even $7,000-$10,000 unsecured credit lines guranteed approval. They claim to report to the credit bureaus each month to help raise your credit scores.
Complaints like the following posted at ripoffreport.com are not uncommon at all….
”I was online applied for a credit card which they made me believe that it was a visa. they didnt tell me Read more:Accounts
Debt Management Tips 2007-07-25 13:47:04 In today’s world, having debts is considered to be normal. Without debts, your financial credibility cannot be established. As long as you are paying your dues and bills on time and managing your debts well, you can maximize your borrowing power. Of course, not everyone is good at debt management. This eventually puts them in a debt trap that is difficult to get out of.
Debt management is very important if you want to enjoy financial freedom. Because it requires much discipline and self-control, you will need to know a few tips in order to make everything easier.
Control Your Spending
Debt management does not only mean monitoring your debts. You should, first and foremost, monitor your expenses. An effective way to do this is to look at the way you budget your income. If a considerable percentage of it is directed to paying your debts, then you should consider debt management. You should be able to determine whether or not your income can support your lifestyle and it can’t then cu Read more:Management
Debt Management and Your Retirement Years 2007-07-27 11:53:17 In the United States, there is an increasing number of senior citizens who has been found to be struggling with debt. Since these individuals rely on their retirement benefits or whatever money they have saved up, they will have difficulties managing their debts especially if the amount escalates due to increasing rates or from incurred late payment charges.
Unfortunately, senior citizens will not have the opportunity to enjoy some of the options available to younger individuals like getting part-time work. However, there are actually strategies in debt management that can be enjoyed by the older people. Here are some of these strategies.
Reverse Mortgage
Retirees do not have to refinance their existing mortgage based on the equity they have or else, they would be paying mortgages even if they are already 70 years old. Instead, they could tap into their equity through reverse mortgage. Unlike ordinary re-financing, the money they receive, whether monthly or one-time, will not be consid Read more:Management
, Years
Facts about Bankruptcies 2007-07-31 00:05:36 Suffering from financial difficulties may often lead to large amount of debts. When this happens, a person can seek protection from his creditors by filing for a bankruptcy. If you have had difficulties paying off your debts and are actually considering filing one, you should at least learn the important facts about bankruptcy.
For starters, bankruptcy is an effective way to temporarily halt all collection efforts being done by creditors. The bankruptcy court is the issuing authority and an appeal for a relief may be filed by the creditors, if they want to continue with the collection. However, if your debt is secured by a property, creditors are often allowed to gain possession of the said property.
The job of the bankruptcy court is to determine whether you are indeed bankrupt and have no way of paying your outstanding debt. All your finances will be scrutinized including your assets. If you filed under Chapter 7 or liquidation and yet the court found a way in which you can pay off t
Restoring Your Credit after Charge-Offs 2007-08-01 13:49:09 In the world of credit, charge-offs are probably the worst type of record you will have on your credit report. Basically, a charge-off is an unpaid debt that was written off by your creditor as a loss for tax purposes. Although, the debt is no longer considered as a part of the creditor’s profits, it does not mean that you are free of it. You are still obligated to pay the amount you owe your creditor or risk a lawsuit.
When you have a charge-off record, it only means that you are not a good candidate for credit. You will probably be denied each time you apply for credit cards, housing loans or even car loans. Your credit history would even be scrutinized if you want to borrow money for business. If you do not want such inconveniences, you should make sure that you have a charge-off-free credit report. But if you already have one, then restoring your financial credibility should be your goal.
There is actually one way you can restore your credibility after your creditor has considere
Collection Accounts On Your Credit Report 2007-08-04 13:27:54 After working so hard for so long, you have finally saved enough for a down payment on your dream car or even a home. Of course, before you even begin looking for one that would fit your budget; you will first have to get pre-approved. Most loan officers would conduct a standard credit check in order to assess your paying capabilities. As you sit at home and dreaming of that car or home, your loan officer calls you with the bad news that your loan application was disapproved. Upon further inquiry, your loan officer finally pointed out that you have a collection account on your credit report that have brought down your credit score to an unacceptable level.
Now, you should not panic. Collection accounts are actually uncollected debts that are now being handled by a collection agency instead of your won creditor. To verify this, you should first obtain a copy of your latest credit report. This is possible easily online. As soon as you have the report in front of you, check whether the co Read more:Accounts
Update on The Release Of Credit Dispute Software 2007-08-08 03:30:05 As most of you know I will be releasing “Dispute
Demon” credit dispute software very soon. How soon? Lets put it this way were only a few weeks away and now is the time to jump on board for two reasons.
You can reserve your 50% early bird discount.
You can start promoting Dispute Demon now because all your referrals will be solidly tracked so when launch day comes you will be credited for all sales. Thus earning your money back if you are a user of Dispute Demon as well as an active affiliate. ( You can also earn commissions on all currenty realeased products/services at this time)
We have some stunning new graphics you can use as an affiliate for promotions. Take a look…
Read more:Update
, Release
, Software
Late Payments are Avoidable, Learn How! 2007-08-06 20:23:55 Tired of looking at your bills and seeing late payment charges? Then you should make a conscious decision today and do something about it. Late payments are actually simple to avoid if you set your mind to it. In many cases, it is never a matter of having sufficient funds to pay for the bills but having the discipline to do so on time. As a responsible adult, you should try very hard to avoid making late payments as they will cost you money and a lot of inconvenience.
Aside from having to pay these late payment charges, your credit score will also suffer. In the United States, having a credit report free of delinquencies, collection accounts, bankruptcies and even late payments translate to high credit scores. The higher your credit score, the more financially-credible you will become. Almost every loan facilities will only have to look at your credit score and consider you low risk. You will certainly enjoy the convenience of faster approvals, high credit limits as well as low interes
“How To Get Extra Money To Pay Off My Bills Each Month” 2007-08-12 13:18:22 This is a question that is asked quite a bit from my members who are on a very tight budget. They need every bit of money to pay their credit card bills, rent, gas and food each month. So that doesn’t leave them very much extra money left over. In fact many times they are short on money each month to pay bills.
This becomes an issue to several problems….
- Not enough money to pay bills each month
- In short This can lead to High balances on accounts such as credit cards bills, if not already maxed out.
- This can then lead to Delinquent accounts
- Which in turn will create Low credit scores from the items mentioned above appearing on credit reports
So they ask, &ldquo
;how can I earn extra money to pay off my bills each month&rdquo
;.
I have a genius solution for my members or anyone else who needs to earn extra money to pay off their bills each month
which in turn will improve their credit reports and keep their credit scores higher.
In my special report “How To Get Read more:Extra
, Money
, Bills
, Month
Debt Consolidation Dangers 2007-08-15 13:29:24 If you have saddled with a huge amount of debt and finding no way to get rid of it, debt consolidation could be the most practical solution for you. But before you start jumping out and down, you should realize that it also comes with a few dangers or risks. Debt consolidation companies are a dime a dozen, especially today. These companies have been hugely-successful because the number of people in debt has been growing steadily. The same people would try to manage their debts through debt consolidation methods. Some succeed easily enough while others fall into more debt trap.
Before deciding that debt consolidation is right for you, make sure that you are well-informed about it. For starters, you should know that there are many debt consolidation dangers including the following:
False Promises
There are certainly plenty of debt consolidation companies which will offer you too-good-to-be-true deals and chances are, they are. These companies are in the business of advertising that debt Read more:Consolidation
, Debt Consolidation
Is Debt Consolidation the Solution? 2007-08-20 16:06:28 In the United States, having debts is considered to be healthy. After all, your borrowing credibility can not be established without incurring debts. There are some people who are able to manage their debts almost naturally – no late payments, no delinquencies and other negative credit entries. Sadly, there are some individuals who experience financial troubles due to loss of job, emergency medical expenses or divorce, resulting to huge amount of debts. In case you become overwhelmed with all your debts and you want to be rid of them at the most convenient way, then debt consolidation loans could be the solution.
Unlike other methods of debt elimination, a debt consolidation loan does not require you to declare any collateral. Your application will be approved based on your credit record. If your credit rating is not that high, you can expect your debt consolidation loan to carry a much higher interest rate. The reason behind this is simple. The debt consolidation company is taking a Read more:Consolidation
, Solution
, Debt Consolidation
Identity Theft: Understanding The Facts 2007-08-17 14:08:40 The incidence of identity theft in the United States has been growing quite steady over the past years. Surprisingly, people aged 25 to 34 are usually the ones who fall prey to these unscrupulous individuals. In most instances, these victims have little or no knowledge at all that they were exposing themselves to become targets of identity theft. Arming yourself with information is probably the best way you can defend yourself. Here are the key facts about this crime that you should know as a consumer.
Access
You would be surprised to know that obtaining personal information through traditional channels is more common than getting them online. In fact, 90 percent of identity theft incidents involved victims who could not trace the source of the breach because they were not done via the Internet. On the other hand, about 30 percent of identity theft victims pinpoint the loss or theft of their wallets, which contain credit card information and identification cards. Lastly, about 47 perce Read more:Understanding
Update on the release of “Dispute Demon” credit dispute software 2007-08-23 12:09:11 I have been communicating with my programmer on the final stages for the development of &ldquo
;Dispute Demon&rdquo
; credit
dispute software. I do have a prototype of the software program from my programmer and I will soon be sharing with you a sneak peak with some screenshots very soon. I will also make a video for you.
This has been a long time waiting and there are many people possibly including yourself that have been waiting patiently for my software to be released.
I’m very excited as its been almost 3 months on the programming aspect and before that a few months of my own schematic development with features, calculations, and layout in a 40 page document that I handed to my programmer .
My software is going to benefit you greatly by helping automate the credit dispute process and also give you a customized Credit Score Booster DNA Analyis report based on your personal credit scenario. At a click of a button you will be able to dispute items on your credit report or print Read more:Update
Identity Theft and Credit Ratings 2007-08-27 14:32:44 Having a good credit rating, especially in the United States, is very crucial in order to enjoy privileges like owning a home or a vehicle. Most people would try very hard to maintain high credit scores to be able to avail of lower interest rates as well as higher credit limit. Unfortunately, becoming an identity theft victim can ruin all your hard work. This crime is probably the worst thing that could happen to you especially if you think about its effects on your credit ratings.
Evidences of identity theft are usually noticeable especially if you pay attention to the content of your credit report. This report is a very important tool that creditors and lenders use in order to gauge your financial credibility. If you have been delinquent with your payments or have filed for bankruptcy in the past, you will see all these reported. In an identity theft crime, you will first notice discrepancies that you will likely contest. In most cases, you will be notified that there were no erro Read more:Ratings
The Truth about Debt Consolidation 2007-09-22 20:07:08 Constantly thinking of how to rid your self of debt is certainly not easy. You would probably end up considering filing for bankruptcy just to get temporary relief. Of course, this is a bit extreme. If you really want a more convenient approach to your debt problems then you should seriously consider a debt consolidation program.
Simply put, debt consolidation is defined as a method of managing your debts whereby an individual takes out one new loan to pay for all his existing loans. In most cases, the new loan is secured by collateral such as a real estate property. Without any collateral, the debt consolidation loan would carry a higher-than-industry-standard interest rate. Still, there are individuals with good credit ratings who can enjoy a low-interest rate loan because of their good credit ratings.
Because debt consolidation companies are taking a big risk in lending you money to settle their debts despite your not-so-good paying reputation, which got you into trouble in the firs Read more:Truth
, Consolidation
Debt Consolidation: Key to Financial Freedom 2007-09-15 20:51:27 If you are being troubled by debt problems, you should consider debt consolidation as a way to manage them. In the past years, many people have chosen to consolidate their debts in order to save money as well as enjoy some the conveniences that come with it. Choosing which among the many debt consolidation products is perhaps the most difficult part. If you are amazed that there are several debt consolidation options available, then you should learn a thing or two about them.
Use Home Equity
Taking out a home equity loan is a good debt consolidation decision. In addition to the relatively-low interest rate, whatever amount you pay is also tax deductible. Basically, these loans are based on the amount of equity you have on your home, thus explaining why lenders would easily approve a loan application with a reasonable interest rate. Compared to borrowers with no collateral, creditors will certainly consider you less risky even with poor credit rating.
Personal Loan
For people who have u Read more:Consolidation
, Financial
, Freedom
, Debt Consolidation
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