Everything You Need to Know to Repair Your Own Credit!

I am going to teach you how to fix your credit. I am not going to share everything that I know with you about credit scoring models or algorithms but I am going to share the process with you. I am doing this because I want you to know what you are doing when you go about fixing your credit. If you have bad credit and are a DIY type of person this article is for you. I am going to cover everything in this article from A to Z.

The first thing that you need to do is review your credit for inconsistencies. A full 79% of credit reports have one error or another. Cases of mistaken or stolen identity, same or similar names reporting on the wrong report, incorrect amounts, duplicate accounts, and many other forms of errors being reported on credit profiles abound. Go over your credit report very carefully looking for inconsistencies such as those listed above.

Once you have identified the errors that you want to correct it is time to move on to the next step. You will want to dispute those items with the three major credit bureaus. Write a letter you each of the three credit bureaus explaining to them what you believe the error is and request that they delete the item being reported in error from your credit report. Proper formatting is an important ingredient in order to ensure that your dispute is handled properly. The credit bureaus are going to want to make sure you are who you say you are. For that reason you must always submit your dispute letters with a copy of your driver"s license and a bill with your address on it (such as a utility bill). If you have recently moved they may want to see additional verification so include a pay-stub, social security card, or W2 form.

There is no guarantee that disputing an item with bring about a removal of that item from your credit profile. If the item is genuinely being reported in error there is a high likelihood that it will be deleted. Creditors have 30 days to validate an account that has been disputed otherwise it is automatically deleted. If an item is validated but you are certain that it is being reported in error you can challenge the validation. That process begins with first requesting the documentation from the credit bureaus that the creditor used to validate the account. A good example would be if an amount is being reported incorrectly. Such as if you paid off an account but it is still reflecting an amount owed. In that case, obtain dated proof of your release from the debt obligation to compare to the documentation used for validation, which may show that the validation is dated.

If you are unable to have an item deleted through the dispute process there is a good chance the collection agency or creditor may be more pliable and willing to negotiate after an item has been disputed, validation challenged, or is currently in dispute. As a last resort you may want to attempt to negotiate a settlement with the creditor; this is only if you are unable to have the item removed through any other means. However, there are a few ground rules here that you need to take into consideration. Again, if you are certain that the item is being reported incorrectly or is not yours all together; do not acknowledge the debt as being yours.

The first thing that you should ask for when the creditor answers the phone is for the agent to come back on an unrecorded line. You have the right to speak on an unrecorded line and generally the agent will be happy to oblige. He or she will put you on a brief hold and come back on a line that is not being recorded. Once they are back on the line with you tell them that you are calling about account # (fill in account number). If you do acknowledge ownership of the debt, that could restart the statute of limitations back to 0 days since last date of activity. It is important not to make that acknowledgement in the event that you are unable to reach an agreement. It is not uncommon to get the settlement down to around 40% or 40 cents on the dollar. Collections and profit & loss statements come off on their own seven years from last activity while items discharged in bankruptcy come off in 10 years.

Cleaning bad credit from your credit profile is the first step in establishing repairing your credit. The next step is to re-establish credit. Sometimes when you make a lot of changes to your credit profile in a short period of time you may see a dip in your credit score in the first month after. The reason for this is because while you are deleting derogatory items you are also deleting transaction history. This is normal and it will rebound in the subsequent month so long as you have established some new trade-lines (credit account).

Those with perfect credit have multiple seasoned trade-lines varying in type. Usually a couple of revolving account, an installment loan or two, and an amortized loan such as a mortgage. The more seasoned a trade-line is the more weighted it will be on your credit report. If you have the option of having a friend or relative add you as an authorized user on a seasoned trade-line that will accelerate the time-frame in which you are able to increase your credit score. However, with a clean slate you should still be able to significantly increase your score over the next couple of months.

Open a couple of credit card accounts to start with. You will want to limit your inquiries to no more than 3 in any 6 month period. For that reason it is a good idea, if you have cash on hand, to start out with secured credit cards. Secured cards come with a guaranteed approval and do not require a credit pull so you will be able to limit the inquiries on your account. Another great option is Aarons Sales & Lease; they are the only rent to own company that I am aware of that reports to all 3 major credit bureaus. When establishing new credit try to limit your new credit inquiries as much as possible.

After establishing a couple of new credit card accounts make sure that they are open and active. You will want to use the cards to build up some positive transaction history. At the same time you will have to use them carefully to maximize your credit utilization. Never exceed 30 percent of the available balance as that is the sweet spot in where your account is open and active while still maintaining a large percentage of available credit. It"s a good idea to make a small purchase or two once a month and then pay your bill after you receive it in the mail to ensure that it posted and the activity on the account will be reflected on your credit profile.

There is a lot more that goes into it than the information that I have provided here. There are specific calculations that we can do based on credit scoring models that allow us estimate scores at particular intervals. Though, in order to remain compliant I never quote time-frames or make guarantees because there are always variables that could disrupt the work that we are doing. The information provided here is more than enough for you to go out and fix your own credit. There is nothing that we can do in that regard that you cannot do yourself. You can take the steps outlined in this article and fix your credit.

If you do not have the time to put the work into this process or would rather just leave it to the professionals we are here to help. Northern Finance Group employs highly trained credit repair professionals and we are willing to work with you in every step of the way. Our rates are reasonable for the high level of service that we provide and we can ensure that your credit reach the heights that you are striving for. If you have been turned down for credit and need to get your credit repaired as quickly as possible please give us a call for a free consultation.

How Removing Negative Items Off Your Credit Report Can Actually Hurt Your Credit Score

When you see terms like "We remove negative items off your credit report in 30 days," it"s usually not true. Or terms like," Increase Your Credit Score by 150 points in 30 days. A credit repair company cannot make guarantees like that because everyone"s credit profile is different. Suppose someone has bankruptcies and foreclosures then it would not be right for someone to tell them that they can make those changes. Sometimes removing negative items off your credit can hurt it, depending on what other accounts you have on your credit report that"s in good standing.

There are certain percentage factors that make up your score. 35% of your credit score is calculated by a person"s history of making their payments on time. 30% of your overall score is calculated by how much you spend every month versus how much is allowed. In other words, say that you have a Macy"s card, with a $1000.00 limit. And say that you have 2 other credit cards with a $1000.00 limit a piece on them. Then you have a line of credit for the month totaling $3,000.00. Let"s say that every month out of that $3000.00 line of credit, you usually spend about $2,900.00 of it. Then that means that you are almost maxing your cards out and spending over 90% of your available credit. The 3 credit bureaus say that in order to raise your credit score, you need to use about 16-29 percent of your limit allowed. So out of that $3000.00 credit limit, you should be spending about $500-$900 of it to have a great credit score. Most lenders look at things like this: "If you are maxing out on small amounts then you probably couldn"t handle large amounts.

15% of your credit score is calculated by how long you"ve had these accounts open.(The longer the better.) 10% of your credit score is rated by how often someone applies for new credit. Applying for too many things within a short period of time can also bring down your score. When you go and apply for loans etc. and they ask you for your social security number and run your credit, then this results in a credit inquiry on your credit report. Inquiries usually stay on your credit report up to 2 years.

The reason that I say sometimes "Removing negative items may hurt your credit score is because: let"s say that you have 8 accounts in bad standings. But these accounts were opened up from 2010 to 2012. Let"s say that you have 1 loan that you paid off in 2008 and it"s in good standing. If you hire me and I remove those 8 negative items off your credit report, then those negative items account closes and then they erase off. Then your credit score wouldn"t increase because once those items are erased, then the credit bureaus have no recent credit history of knowing how you"ve been paying your bills lately to determine anything. So depending on how many other accounts you have in good standing, once those other accounts get erased is the determining factor in improving your credit score or it actually staying the same.

Nationwide Credit Consultants, 4990 River Overlook Way, Lithonia GA 30038. Telephone:( 678) 507 9921.

The History Of Catering

So you"re having a celebration or an infant shower, or a wedding or a retired life event or your company is having a launch or a workshop as well as there is the inquiry of just what to do regarding the food. Well, you"ll work with a caterer, right? Someone that has all that food stuff covered from food selections to cooking and also every little thing in between. While you may assume food catering is something that has been believed up reasonably late in our history, you might be amazed to recognize it"s been taking place since 4 BC.Back in the 4th millennium BC in China, there was a great deal of weight put on grand consuming and also alcohol consumption "events" and the exact same was taking place in Egypt at the very same time. No, there weren"t food caterers turning up with their canapes and also trays of thrills, rather the servants did all the job yet it was the starts of exactly what we now called catering.Fast onward a few thousand years and the ancient Greeks made catering even more of a profession where they would certainly open their inns as well as give food and beverage to primarily the soldiers that they saw around the cities. This continued on for years and also continuouslied bring catering along to what we understand it as now.Catering is, after

all the business of supplying food and beverage to others. Currently it is a growing business to be linked with and need is high as individuals do not want the inconvenience of providing their very own affairs.The earliest account in" modern-day "times of food catering

was back in 1778 at a round in Philadelphia where Caesar Cranshell provided a celebration to celebrate the departure of the British General William Howe. As a real service, however, providing could be traced back to 1820 once again in Philadelphia where it ended up being a respectable and lucrative profession.Today we have caterers in every city and also community; we have those that focus on wedding events and those that concentrate on corporate events. We also have mobile event caterers that turn up at outside events and also occasions in their trucks or carts to offer their merchandises. People always should eat, so event caterers will certainly never ever go out of style. Today they are always creating larger and better events for individuals to appreciate Catering services are typically creative and imaginative people that like to

help others, as well as nevertheless, they do a terrific service to those who want an amazing party to keep in mind for several years to find.

How Debt Consolidation and Debt Management Can Help With Credit Repair

When you find yourself getting in trouble, may people turn to debt management companies or a debt consolidation company. Sometimes these companies can help you with negotiations of your debt but sometimes they can dig you into a deeper whole than you first started in.

Do your homework before you start up with their services. Check the Better Business Bureau. Google the company and seek for reviews. Read through them. Check reviews on Yelp. You want to arm yourself with as much information as possible. Check the state"s Secretary of State to see if they are listed. How long have they been in business. I"d hate for you to start services, pay the company"s fees just for them to close down and not do anything for you.

Before you start, also check with the creditor or collection agency. See what they can do for you. Ask for options, whether for a payment plan or a settlement. Ask if you agree to payment, would they be willing to delete the entry from your credit report once it"s paid. Don"t let them tell you they can"t do that. If they do, ask them what law states that. There ISN"T one!!! So let them know that you"re aware. Also let them know by them telling you that they CAN"T do it, that you deem that to be providing misleading information. Empower yourself with a little bit of research.

But one thing I would like to stress before establishing any type of relationships is to ask what they are going to do with the funds that you pay. Too many times I see people who enter into an agreement with a company. They first pay the fees. Then they continue with their monthly payments until a large enough sum is reached before they will try to work out a settlement. During this time, there could be a lawsuit filed which is the last thing you want. I"d suggest to ask 2 questions before starting:

1 - Can you stop a lawsuit from being filed?

2 - If a suit is filed and a judgment is entered against me, can you stop execution of the judgment?

If they beat around the bush with an answer, it"s obvious that you shouldn"t work with them. More times then not the answer to both questions is no. But if they answer yes to either, ask them to elaborate in great detail. It"s for your best interest.

Credit Repair Services: Do You Really Need It?

Repairing credit can be compared to losing weight, there is no quick-fix! Just as it takes time to get rid of your fat, the same goes for the negative items on your credit report. Any attempt to repair your credit quickly is more likely to backfire, than to produce any positive result. The best thing that you can do in order to rebuild your credit is to be responsible in managing it over a period of six months at the least.

You need to be responsible in managing your credit, but what if there are errors and inaccuracies in your credit report that render it negative? The worst thing about such inaccuracies is that you are at a serious disadvantage, usually through no fault of yours. Unfortunately, a study by U.S Public Interest Research revealed that 70 percent of all credit reports contain serious errors.

Fixing these errors involves a detailed legal process which consists of sending dispute letters to creditors and credit bureaus, sending reminders, studying the documentary evidence provided by creditors and bureaus, and more. Like most people, you might not have the required time and expertise to follow through on all of these processes efficiently. This is where credit repair services can help you out. Now it"s important to understand that it will not be possible to improve your credit score in a few weeks. As previously stated, this is not possible even if the negative items in your credit report are due to error.

Time taken for Credit Repair

Creditors and credit bureaus are required by law to produce original documentation in order to prove the negative items that are present on your credit report. They cannot take more than 30-45 days to do so. However, drafting and sending dispute letters may take some time as well. Some people think that it is possible for any consumer to get his or her credit score corrected without any professional help, which is true but hardly practicable.

Anyone whose credit report contains errors can try to draft their own dispute letters and send them to the concerned parties, but it is time-consuming and it takes a lot of mental effort. Unless you are ready to take this duty as seriously as you take any other professional commitment, do not even try! Hiring a reliable provider for credit repair services, which would be a company that has more than a decade of experience helping thousands of customers with unfairly negative credit reports, can help you correct your credit score without too much fuss.

Credit report repair services are particularly useful when:

— The negative items on your credit report are due to accounting, reporting or any other error committed by creditors, credit bureaus or collection agencies. Genuine errors can be struck off from the reports smoothly when you go through the proper procedures.

— The credit repair service providers are good at identifying errors that cannot be verified. By law, if any item in the report cannot be backed up by documentary evidence, it needs to be removed. This loophole can be used by credit repair companies to improve your score.

— Some lenders are willing to negotiate with credit repair representatives of their consumers. If your lender allows it, this can help you raise your credit score.

A credit repair company is an effective alternative for you if you have a lower credit score. They will take the necessary steps at removing any inaccurate information from your credit report which will eventually improve your credit score.

Managing Your Credit Scores In Your 20s

Age brings with it wisdom especially when it comes to taking financial decisions. A 40-year-old may be aware about more of credit repair facts and myths as compared to a 20-year-old. However, there may be instances when people may be stuck with similar credit issues irrespective of their age.

To begin with, the key to improve your credit score is - a dynamic focus. You need to seek help from a proficient credit repair specialist and then prioritize certain things as you age in order to do away with the issues that come in your credit domain.

Things to Consider in Your 20s to Improve Your Credit Score:

In your 20s, there are specific things that calls for your attention, when it is about enriching your credit health.

Attend to the five Factors:

The first step to improve your credit score is to have a clear understanding of the rules. The actual status of your credit score is determined by five factors - debt utilization, payment history, new credit, credit length, and diversification. If you were unaware of the essential factors that have an impact on your credit score, you need to work on the strategies that will help you to take care of the five factors.

Repay your student loans:

As stated by The Institute for College Access and Success (TICAS), about 69 percent of the students left college with loans in 2013. The bottom line (which was $28,400) was actually a big burden for the salary of a fresher. You have a choice to stretch the loan for whatever time span you want to (years or even decades), but you also need to keep in mind the downside of the decision.

Adding on the interest will not only increase the principal amount and will also increase the life of the loan. This will increase the overall cost of the loan that you have taken. Paying off your loans at the earliest will lead to a lower credit utilization ratio, better and more opportunity to improve your credit, less stress on your budget, and last but not the least even more opportunities to save.

The final tip:

Credit score plays a vital role in every phase of your life whether you are in your early 20"s or 50"s and beyond. Analyze your credit score regularly to ensure that you maintain a positive credit and avoid any problems related to your financial plans.

Is Your Credit In The Trash? Try These Ideas For Easy Repair!

It"s not only irresponsible people who fall into deep debt. People who pay their bills on time and honor their debts, sometimes get struck with a little bit of bad luck that ultimately spirals out of control, and creditors are not forgiving of your bad luck. They want their money and they want it now. But what can you do to fix that bad credit rating? Here are a few tips that can get you started on the road to repairing your credit.

Cancel your "introductory" credit cards as your credit starts to improve. Those cards serve a very useful purpose in building your credit, but the interest rates and terms on them are usually terrible. When you have improved your score enough to qualify for a better credit card, go for it and get rid of the old ones.

An important tip to consider when working to repair your credit is the fact that correct information can never be removed from your credit report, be it good or bad. This is important to know because many companies will claim that they can remove negative marks from your account; however, they can not honestly claim this.

Consider a free credit service such as consumer credit counseling services. These non profit organizations will help you to establish a repayment plan with your creditors and can often times lower the amount that you owe and the interest that you pay. This is a better option than bankruptcy for your credit score.

Credit repair scams are a dime a dozen, so understanding what is legit and what isn"t is key in finding someone to help you with your problems. For example, if a company contacts you but doesn"t tell you about your Fair Credit Reporting Act rights, then they aren"t a trustworthy business.

On a yearly basis, review your credit report for items that could mean your identity has been stolen. If you see inquiries that you did not authorize or accounts opened that you do not recall, start taking action immediately to secure your identity and put a hold on your credit.

It is possible to add an explanation to your credit report to give additional information about the circumstances of any items that appear negative. Falling behind on a payment may have a very good reason. Adding the reason to your credit report makes it more accurate and may help you if you are applying for a loan.

An easy way to start the credit repair process is to limit yourself to one credit card. The less cards you have the easier it will be to keep track of balances, fees and payments. Write the issuer of each card you do not plan to keep and close the account. You"ll need to transfer that balance or pay it off.

You should evaluate your debt. Review your credit report and take a look at how much debt you are in and what steps you need to take to fix it. By doing this you may find out that your debt situation is not as bad as you thought it was.

Don"t fall for the credit repair companies scams, they make lofty promises that they can"t fulfill. It is a fact from the Federal Trade Commission that they have never seen a legitimate credit repair company. You will be better off saving your money and repairing your credit yourself with a little hard work.

If you are looking to sign up for a credit repair service, make sure that you are not too hasty and you look up information on the company you are dealing with. Also keep in mind that most credit repair companies that are legitimate will only ask you to pay after they solve your issues.

Find a good quality guide to use and you will be able to repair your credit on your own. These are available all over the internet and with the information that these provide and a copy of your credit report, you will likely be able to repair your credit.

If the credit repair company you"re interested in tells you they have secrets which can help them work harder for you than any other company, they"re lying. There are no secrets which can help anyone work on their credit repair any faster than anyone else. I wouldn"t trust anyone who lied to me!

Contact your creditors. If you cannot repay your debt in whole or at all you should contact them. They may be able to offer you a payment plan or set up future payments for you. You should not avoid them, they will usually work out a plan to get you caught up.

Don"t purchase any luxury items until your debts are paid off. You want to focus on paying off any debts that you have so that companies will begin to trust you again. If you spend your money on new electronics instead of on your debts, you look bad and it makes it seem like you"re irresponsible.

Remove cosigners from your accounts. Adding a cosigner is a good way to get credit, especially when you are first starting to repair your credit score - and they offer another chance to bolster your score when you remove them. Once your credit gets to a point where you can qualify without cosigners, call your financial institution and remove them from your existing accounts.

It is a bad idea to threaten credit companies that you are trying to work out a deal with. You may be angry, but only make threats if you"re able to back them up. Make sure to act in a cooperative manner when you"re dealing with the collection agencies and creditors so you can work out a deal with them.

As you"ve learned here, there are plenty of steps you can take and ways to repair your credit that will not require having your proverbial day in court. You might have to develop a silver tongue and deal with a little more stress than you"re used to, but following these steps can help you get out of debt.