Credit Education Resources

The Truth About Credit Repair

Benjamin — Sun, 07 Dec 2008 21:14:07 +0000

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.

My Score Just Dropped: What Happened?

Benjamin — Sun, 30 Nov 2008 21:19:37 +0000

So, you’ve been working really hard to increase your credit score. You’ve done everything you thought you were supposed to do to present yourself as a creditworthy individual. So, what happened to make your score suddenly drop?

Credit Education Resources

Benjamin — Tue, 25 Nov 2008 04:05:05 +0000

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

Benjamin — Sat, 11 Oct 2008 07:00:48 +0000

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.

Watch the Video

Consumer Alert: Countrywide Credit Scandal

Benjamin — Wed, 10 Sep 2008 07:00:32 +0000

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.

Authorized-User Credit Card Plans Can Be Useful, and Abused

Benjamin — Thu, 07 Aug 2008 21:38:32 +0000

In the world of credit reports, an “authorized user” is someone who is allowed to use another individual’s credit card without being responsible for the bill.

Credit Alert!

Benjamin — Mon, 04 Aug 2008 07:00:20 +0000

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.

Your Credit Score is Costing You More Than You May Think

Benjamin — Fri, 04 Jul 2008 21:35:07 +0000

Credit scores are the best predictor of how a homeowner will pay on a mortgage, so it’s no surprise that credit scores are playing a bigger role in mortgage financing in 2008.

Why Free Credit Reports Are Worth What They Cost

Benjamin — Tue, 10 Jun 2008 21:31:31 +0000

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.

Creating a Monthly Budget

Benjamin — Mon, 05 May 2008 21:27:31 +0000

With a little guidance, creating a monthly budget is very easy to do. The biggest obstacle people begin with is starting. There are hundreds of ways to keep track of your monthly spending. Start a list on a plain sheet of paper, copy one from someone else, or use your computer and a program that is designed specifically for this purpose and does all the work for you.