The Truth About Credit Repair December 7, 2008
Posted by Benjamin in Credit.Tags: Building Credit, Credit, Credit Dispute, Credit Repair, Increase Credit
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If you type “credit repair” into Google® your search will come back with 18,200,000 results. How can a person possibly make an educated choice with those results?
Most companies will say they can “remove” items by challenging the accuracy of legitimate items on the consumer’s credit report because under the Fair Credit Reporting Act if the item cannot be verified in 30 days, by law, it must be removed.
Credit Education Resources November 25, 2008
Posted by Benjamin in Credit.Tags: Authorized User, Bad Credit, Bankruptcy and Credit, Best Interest Rates, Big Credit Mistakes, Biggest Credit Mistakes, Budgeting, Budgets, Building Credit, Credit, Increase Credit
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Welcome to Credit Education Resources.
Whether you are trying to get approved for a loan, or you are just looking for ways to increase your credit score, Credit Education Resources can provide solutions. A higher credit score means substantial savings on your monthly bills, better rental and employment opportunities, and peace of mind. The average score of our clients increase between 50 and 60 points.
The subject of credit scoring has become an increasingly hot topic, and for good reason. For many years, the general public only associated the concept of credit scoring with the need to purchase high−ticket items such as a new car or a home. Today, credit scoring goes much further. Your credit score can affect your ability to get a good rate on commodities such as car insurance, cell phones, or even determine whether or not you get the job that you want. Indeed, the financial snapshot provided by the credit score has also become a gauge for many employers, especially those who seek to place employees in a position of financial
responsibility.
A Higher Credit Score Can Help You…
- Homeowner’s & Car Insurance – Insurance companies use their own credit bureau to analyze risk.
- Personal Loans – Your bank will make an inquiry into your credit history.
- Mortgage Payments & Refinances – Only 39% of mortgage applications are excepted.
- Job Opportunites – 40% of employers look at your credit.
FACTS About Credit Scores…
FACT: Twenty-five percent (25%) of the credit reports contained errors serious enough to result in the denial of credit
FACT: Seventy-nine percent (79%) of the credit reports contained mistakes of some kind
FACT: Fifty-four percent (54%) of the credit reports contained personal demographic information that was misspelled, long-outdated, belonged to a stranger, or was otherwise incorrect
FACT: Thirty percent (30%) of the credit reports contained credit accounts that had been closed by the consumer but incorrectly remained listed as open
SOURCE: U.S. Public Interest Group Research; One In Four Credit Reports Contains Errors Serious Enough To Wreak Havoc For Consumers, US PIRG Press release, 06/17/04
Credit Education Resources is dedicated to helping the credit consuming public maximize their credit worthiness by educating them on the in’s and out’s of the credit scoring model currently in use today as well as their rights under the Fair Credit Reporting Act.
Operation Clean Sweep October 11, 2008
Posted by Benjamin in Credit, Credit Scores.Tags: Bad Credit, Big Credit Mistakes, Biggest Credit Mistakes, Credit, Credit Dispute, Credit Repair, Credit Scores, Equifax, Experian, Increase Credit, Increase Credit Score, Operation Clean Sweep, TransUnion
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The Federal Trade Commission (FTC) is reacting to thousands of complaints across the country by consumers about credit repair companies. As a result, the FTC (along with 24 state agencies in 22 states) launched Operation Clean Sweep.
Consumer Alert: Countrywide Credit Scandal September 10, 2008
Posted by Benjamin in Credit.Tags: Bad Credit, Credit Alert, Credit Mistakes, Credit Scores, Equifax, Experian, Identity Theft, TransUnion
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On September 10th, 2008 it was released that two million people who had home loans with Countrywide learned that they may have been the victim of Identity Theft.
Credit Alert! August 4, 2008
Posted by Benjamin in Credit.Tags: Biggest Credit Mistakes, Credit, Credit Alert, Credit Dispute, Equifax, Experian, Increase Credit, Increase Credit Score, TransUnion
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Most people have never checked their credit score. They have always used credit wisely and have probably never been denied a loan. Long story short, they have never really had a good reason to worry about their credit score.
Why Free Credit Reports Are Worth What They Cost June 10, 2008
Posted by Benjamin in Credit.Tags: Credit, Credit Bureaus, Equifax, Experian, Free Credit Reports, TransUnion
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Free credit reports are useful for identifying identity theft and reviewing active accounts but do very little to help a potential creditor gauge your creditworthiness.
Charge Off vs. Collection Account April 20, 2008
Posted by Benjamin in Credit.Tags: Bad Credit, Charge Off, Collection, Credit Mistakes
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A “charge off” and a “collection account” are almost one in the same. They are both debts that can be collected, and that you still legally owe despite what you may have heard.
Dealing With Credit Challenges March 7, 2008
Posted by Benjamin in Credit.Tags: Bad Credit, Better Interest Rates, Credit Dispute, Increase Credit
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Unfortunately, a person with a bad credit score is often in this position because he or she lacks the discipline to pay bills on time.
Of course, there are exceptions where unforeseen circumstances come into play, such as health complications, or loss of employment.
There are a few things that may be able to bring your score up so that you can secure a better interest rate on your mortgage loan.
Why Your Score Is So Important February 7, 2008
Posted by Benjamin in Credit.Tags: Bad Credit, Increase Credit, Late Payments
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The credit scoring model was designed to quantify the probability of a consumer to pay off the borrowed debt. It also seeks to find the likelihood that the borrower will not be 90 days late at any time in the future.
