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Archive for January 31, 2012
Credit Repair administrator | January 31, 2012
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Improve Credit Score
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Cease-and-desist order issued for credit repair company
April 2015
News from The Daily Advertiser: A cease-and-desist order has been issued for A American Debt Consolidation on Center Street in New Iberia for allegedly failing to provide the necessary $ 100,000 bond required for credit repair companies by state law. The order was issued on Jan. 24 by the Louisiana Department of Justice, Office of the Attorney General, Public Protection Division, Consumer Protection Section. The business came to the attention of the Better Business Bureau of Acadiana after it advertised credit repair as one of its services on an Internet website. The BBB regularly looks into Acadiana businesses that require special state licensing or registration to ensure that they comply with BBB standards.
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The BBB of Acadiana warns residents to use extreme caution when doing business with credit repair companies promising to erase bad credit. Individuals should beware of promises of clean credit following credit repair services; beware of companies asking for advance payment; do not pay credit repair companies for services you can do for free; never let anyone tell you to avoid contacting the three major credit reporting agencies; and do not allow a credit repair company to suggest you use an Employee Identification Number instead of your Social Security number to invent a new credit identity.
August 2014
In general, the only way to improve bad credit is to pay debts on time and leg…………… continues on The Daily Advertiser
March 2014
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January 2014
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Category: Credit Repair | Tags: Ceaseanddesist, company, credit, issued, order, Repair
October 2012 September 2012 administrator | January 30, 2012
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August 2012 July 2012 June 2012
How to help polish up your credit
May 2012
News from The Newark Advocate:
April 2012
2012 brings a fresh opportunity to improve your finances, and that includes making wiser use of credit, debit and checking accounts.
March 2012
» Improve your score. Various lenders and other financial firms calculate different types of credit scores.
January 2012
In general they all reward consumers who pay bills on time and keep debts manageable.
December 2011
February 2012
For instance, 35 percent of FICO credit scores depend on payment history, so it helps a lot if you pay bills on time. Another 30 percent hinges on balances owed, so if you keep your debts under control, that’s a positive. Other key factors are the length of your credit history (the longer the better), the amount of new credit (apply for loans sparingly) and types of credit used (avoid overconcentration in one type of loan). It’s hard to boost your score quickly, so beware of credit-repair firms that promise quick fixes. You can recover from red marks, but it typically will take years. People with higher initial scores require the longest time to recover. FICO suggests several steps to improve your credit, such as paying down debts and checking your credit reports periodically. Higher credit scores translate to better rates on loans and wider credit availability. » Check your fees. Checking accounts can carry many types of fees, so it’s smart to review what you are charged at least once per yea…………… continues on The Newark Advocate … Read the full article .
Related News: 5 financial Band-Aids that can make the bleeding worse News from Fox Business: You’ve resolved to improve your financial situation this year. Maybe you want to pay off a loan, knock off some credit card debt or boost your credit score. Way to go! As you set out to accomplish your goal, beware and avoid options that seem like quick fixes. Often, they only help at the surface temporarily, perhaps abating a symptom like not having enough money to pay an upcoming bill. They don’t, however, solve the problem long term or address its root, such as the lack of a budget, financial disorganization or emotional spending. These quick-fix, Band-Aid approaches often come at a high cost and, therefore, could worsen your money troubles — the last scenario you want to find yourself in. “People need to recognize there are no real quick fixes,” says Ornella Grosz, author of “Moneylicious: A Financial Clue for Generation Y,” a personal finance guide for young adults. “Once you get yourself in a bad financial situation, it takes determination, discipline and hard work to get yourself out.” To help you maintain and improve your financial footing, steer clear of these five financial Band-Aids and consider the suggested healthy alternatives instead. 1. Closing old credit card accounts continues on Fox Business … Read the full article Category: Improve Credit Score | Tags: credit, Help, Polish
administrator | January 29, 2012
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Men’s basketball: CSUN continues to improve on offense, leads to win at … News from Daily Sundial: After having one of their best offensive performance in a two-point loss to Cal State Fullerton Thursday, the Matadors picked up right were they left of as they shot a blazing 61 percent from the field en route to a 76-68 non-conference victory over Cal State Bakersfield Saturday night at the Icardo Center. High-scoring redshirt freshman, Stephan Hicks, dropped a career-high 26 points to lead a Matadors (6-13, 2-6 Big Wes) team that had four players in double-figures, including 16 points from sophomore guard Josh Greene. For the second straight game, CSUN hit eight of the 15 3-pointers it took (53.3 percent). Despite the offensive surge, the Matadors had a tough time putting the Roadrunners (11-11) away. After leading by as many as 13 points, CSUN found itself with only a four-point advantage with 3:39 left in regulation. The game remained a four-point difference up to the one minute mark and CSU Bakersfield had an opportunity to cut into the deficit. However, Donald Johnson, who scored a team-high 18 points off the bench, missed two shots. Eventually the Matadors put the game away at the free throw line as they snapped a three-game losing streak. Things have been so bad on offense for Northridge that its 76 points scored marked only the second time in the last 10 games that they scored over 70 points. CSUN managed 84 points in a win a…………… continues on Daily Sundial … Read the full article .
Related News: Category: Improve Credit Score | Tags: basketball, continues, CSUN, Improve, leads, Men's, offense
administrator | January 28, 2012
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Pay Off Your Credit Cards Now News from Business Insider:
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As you may know I have recently turned my financial life around, it is by no means perfect but it is on the right path. I no longer take money for granted, I always pay my bills on time, and I don’t accumulate debt. I decided to keep one credit card open in order to help rebuild my credit score. Over the past few years I had a really high income with a really low credit score. That’s because I had a lot of open credit cards that were maxed out to the credit limit. Keeping one credit card open, using it, and paying it off every month shows financial responsibility; and it has definitely helped improve my credit score. Closing my (several) other credit cards and making regular payments is not enough to increase our credit score. In order to build and maintain a good credit score we have to be actively (and responsibly) managing our open credit. I am not going to lie, calling my credit card companies and asking them to close my existing credit cards because I could no longer afford to have them was very hard and it was also a l…………… continues on Business Insider … Read the full article .
Related News: Credit Score Zealots Pursue Fool’s Errand to Get Over 800 News from BusinessWeek: January 25, 2012, 7:30 AM EST Farmers Bet on Rates as MetLife Battles Rural Lenders: Mortgages Fed Interest Rate Pledge May Send Investors Into Riskier Choices U.S. Banks Face Pressure on Margins From Fed’s Policy on Rates Billionaires Occupy Davos as 0.01% Bemoan Income Inequality Obama Answers Bernanke Plea With Refinancing Plan: Mortgages By Alexis Leondis (Updates with comment from Credit Karma CEO about credit scores in first paragraph under ‘Credit Monitoring’ subheadline.) Jan. 13 (Bloomberg) — Jeff Rose, a 33-year-old financial planner, is trying to improve…………… continues on BusinessWeek … Read the full article Category: Improve Credit Score | Tags: cards, credit
administrator | January 27, 2012
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Credit-Rating Factors May Be Changing; How Will You Fare? News from CBS Local: CHICAGO (CBS) – Just when you thought you knew everything there was to know about how to improve your credit score, some credit bureaus are changing the rules. As CBS 2’s Dorothy Tucker reports, that’s good news for some, not so good news for others. Mortgages, credit cards, car loan payments — these are the traditional bills credit bureaus consider when calculating a consumer’s credit score. But tradition is being challenged. Some credit score agencies are now looking at alternative information. “They look at things like your rent payment history. They’ll look at things like how well you’ve paid your cell phone or your utilities,” says Kenneth Lin, CEO of Creditkarma.com. Creditkarma is a company that offers free credit scores. Lin says some bureaus also look at whether you’ve paid your furniture rental bill on time or took out a payday loan. “And they’ll create a credit score based off of that to determine your risk profile,” he says. Many consumers are open to the idea. “I think it makes sense, given how our economy is changing. You have to look at more factors as to whether a person’s creditworthy, besides the traditional factors,” Jason Orth says. A company called … Read the full article .
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Credit fix, 4 videos talk about credit report, credit score, credit repair, debt collection, collection agencies, bankruptcy, foreclosure, public records, judgment, taxes and more Video Rating: 3 / 5
Category: Improve Credit Score | Tags: Changing, CreditRating, Factors, Fare
administrator | January 26, 2012
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The Secret Equation That Guarantees Better Credit News from Huffington Post: When my clients first take charge of their financial situations and decide to achieve healthier credit, they are often surprised by the number of errors that exist on their credit reports. Fortunately, many of the problems are often cleared up when my clients dispute the errors by alerting the credit reporting agencies about the inaccuracies. But not every problem on my clients’ credit reports can be traced to incorrect information. It would be nice if that was the problem but we can’t blame all of bad credit scores on a typo. The truth is, not everyone handles their finances as well as they should. And, as money gets tight, bills can stack up. They don’t get paid in full or on time, and that had a serious negative impact on credit scores. There’s nothing to dispute there! We hate to admit it, right? But if we were to be brutally honest with ourselves, credit reporting agencies do accurately report debt mismanagement. And after the errors were cleaned up, it’s easy to feel a little guilty as those poor habits are suddenly revealed. Fortunately, those problems are still fixable. However, they can’t be fixed by disputing with the credit reporting agencies. Instead, they can only be fixed by applying a secret equation that you’ll love to know about. If you are in the process of improving your credit and you…………… continues on Huffington Post … Read the full article .
Related News: Consumer Credit Counselors Can Help Your Improve Your Credit Score News from WFMY News 2: Facebook Google buzz Del.icio.us Digg … Read the full article Category: Improve Credit Score | Tags: better, credit, Equation, Guarantees, Secret
administrator | January 25, 2012
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Time to fix the arbitration system? News from Fox Business: “If the law supposes that,” said Mr. Bumble… “the law is an ass — an idiot.” — Charles Dickens, “Oliver Twist” (1838) Credit card law not a law Under the Credit Repair Organizations Act, companies (including credit card companies) that claim they are going to repair your credit must advise you in writing: “You have a right to sue a credit repair organization that violates the [act].” Hooray! In a Jan. 10 judgment, the Supreme Court upheld that obligation, forcing a commercial sector that contains some of the nastiest, most dead-eyed, most cold-hearted predators lying somewhere between the great white shark and the black widow spider to continue to issue such notices in accordance with the law. But wait. Before we get even to the second of our three cheers, we have to pause. The Supreme Court went on to rule that, although such notices have to be issued, they don’t necessarily carry any weight. If, buried in the small print of the original contract between the corporate spider and the consumer fly, there’s a clause that says that arbitration is mandatory, then that consumer has absolutely no right to su…………… continues on Fox Business … Read the full article .
Related News: Protect yourself from credit repair scams News from Deseret News: Published: Wednesday, Jan. 18, 2012 10:41 a.m. MST By William E. Lewis Jr., For the Deseret News While the economy has been showing some signs of improvement, your good name and reputation are becoming more important within the community. Creditors have tightened their guidelines, effectively barring millions of Americans from borrowing money. Mortgage lenders, auto finance companies, credit card issuers and banks have all raised the bar. Borrowers with low FICO scores can expect to be denied or to pay significantly higher interest rates than those with excellent histories. Long gone are the days of obtaining credit, goods, benefits, services and/or employment with a 620 score. In most instances, a consumer will be denied if they maintain a credit score lower than 740. Even those with high credit scores have experienced closed credit card accounts and equity lines. When an account has not been closed, credit limits have been reduced to the current balance due. The terms credit repair, credit restoration or credit rehabilitation are somewhat synonymous. Those with bad histories cannot afford to ignore the potential benefits of credit repair. In today’s economy, a strong FICO sc…………… continues on Deseret News … Read the full article Category: Credit Repair | Tags: arbitration, system, Time
administrator | January 24, 2012
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Could credit card lenders see fee limit this year? News from Debtmerica Relief: Tuesday, 24 January 2012 12:00 A court case between millions of businesses and the country’s largest financial institutions could end up leading to lower prices and therefore potentially less credit card debt for consumers. The lawsuit, a private antitrust case between about 5 million merchants large and small against financial giants like Visa, MasterCard and 13 of the biggest banks in the country, is over what businesses say are unfairly high interchange fees charged to them every time they accept a credit card transaction, according to a report from CNBC. And the case could have a far-reaching impact when it comes to those large financial institutions. Some analysts say they may settle – and that it could cost them as much as hundreds of billions of dollars to do so – or that it may come down to the judge making a decision that could lead to lower prices. Some believe that the judge could institute a fee limit on credi…………… continues on Debtmerica Relief … Read the full article .
Related News: Can Suze Orman’s New Prepaid Card Change Credit Scoring? News from LoanSafe: (Source: Eileen Ambrose The Baltimore Sun) – Personal finance guru Suze Orman says she never would have introduced her prepaid debit card if there wasn’t a possibility that some day it could be used in credit scoring.Orman launched the Approved Card this month. She has partnered with TransUnion, one of the three major credit bureaus, in a pilot program to see whether spending activity on the prepaid card could be used to develop a credit score. Some credit experts are doubtful. People load money on a prepaid card that can be used at places that accept plastic. But how you spend your own cash, experts say, is not likely going to tell a lender how well you manage credit — other people’s money. And that’s what lenders want to know before they give you a mortgage or other line of credit. Consumers wanting to establish a healthy credit history shouldn’t wait to see if the TransUnion pilot works out. To build a good credit history and score, you have to do it the old-fashioned way: by getting a line of credit and paying bills on time. And if you start now, you could achieve your goal long before the TransUnion pilot is completed. Credit scores, compiled from information on credit reports, have enormous influence. A single number determines who gets credit and what the terms will be. “The current system is o…………… continues on LoanSafe … Read the full article Category: Improve Credit Score | Tags: Card, could, credit, lenders, limit, This, year
administrator | January 23, 2012
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BBB: Make the most of your free annual credit report News from Odessa American: Powell is the regional director of Better Business Bureau. Check out the website www.bbb.org or call 563-1880. The Fair Credit Reporting Act allows consumers a free annual credit report While I and scores of others having been trying to shed the holiday pounds and start the New Year off physically healthy, I have seen just as many people completely ignoring their financial health. Budgeting and cutting debt can be a daunting task, but a good first step toward a financial makeover is to pull your credit report. Under the Fair Credit Reporting Act, consumers can receive a free copy of their credit report from each of the three nationwide reporting agencies — Experian, Equifax and TransUnion — every 12 months. You should check yours for inaccuracies or unauthorized accounts to make sure your report reflects your actual credit worthiness and identity thieves haven’t been wreaking havoc. Many television advertisements and websites claim to offer “free credit reports,” “free credit scores” or “free credit monitoring.” However, Better Business Bureau reminds consumers that Annual CreditReport.com is the only authorized source for free annual credit reports under federal law. Additionally, BBB reminds consumers that a credit report is different than a credit score. A credit report is a snapshot of your credit use history which gives a l…………… continues on Odessa American … Read the full article .
Related News: Improving Credit Score is Americans’ Top 2012 Financial Resolution News from BusinessNewsDaily:
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Despite a tightening of their economic belts over the last couple of years, Americans aren’t about to give up using their credit cards. In fact, according to a December poll of Americans’ financial New Year’s resolutions, decreasing dependency on credit cards is one of the least popular resolutions. Instead, many hope to improve their credit scores while still using their credit cards. According to the National Foundation for Credit Counseling (NFCC) December online poll, consumers remain very connected to their credit cards. When asked to rank their 2012 financial resolutions, only six percent of more than 2,300 respondents indicated that decreasing dependence on credit cards was their number one goal. “At first glance, that statistic could appear to be a warning sign of future trouble. However, credit is not the problem. Instead, it is the misuse of credit that leads people into financial distress,” said Gail Cunningham, spokesperson for the NFCC. The NFCC survey revealed that Americans are taking their financial situations more seriously with more respondents saying they…………… continues on BusinessNewsDaily … Read the full article Category: Improve Credit Score | Tags: annual, credit, Free, most, report
administrator | January 23, 2012
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Resolutions: 3 steps to improve your credit score News from The Boston Globe: You didn’t get into a credit mess overnight, so don’t expect to get out of it quickly. It will take time to bring your credit score up, but don’t let that deter you. Credit scores are an integral part of life, yet the ratings remain a mystery to many. Nearly 60 percent of respondents to a Visa Inc. survey incorrectly believed that employment history was factored in; almost 59 percent mistakenly thought the interest rates on their current debts played a role. The most commonly used scoring system is produced by FICO Inc. and uses a range between 300 and 850. An individual can have several FICO scores. That’s because the company creates a separate formula for scoring various types of lending – mortgages, credit cards, auto loans – as well as other financial transactions, such as insurance. All FICO scores weigh factors like payment history, amounts owed, length of credit history, how much new credit a borrower has sought recently, and the types of credit used (mortgages, credit cards, auto loans, and so forth). These details are on your credit report, compiled by credit reporting agencies. There are three main ones; Equifax, Experian, and TransUnion. It’s important to know how the scores lenders use vary from the “educational’’ scores peddled by the credit reporting agencies and other companies, said Liz Weston, author…………… continues on The Boston Globe … Read the full article .
Related News: BBB reminds consumers of their free annual credit report News from Laredo Sun: The Fair Credit Reporting Act allows consumers a free annual credit report Saturday, January 21, 2012 By: Special to The Laredo Sun Normal 0 false false false EN-US X-NONE X-NONE MicrosoftInternetExplorer4 /* Style Definitions */ table.MsoNormalTable {mso-style-name:”Tabla normal”; mso-tstyle-rowband-size:0; mso-tstyle-colbandsize:0; mso-style-noshow:yes; mso-style-priority:99; mso-style-qformat:yes; mso-style-parent:””; msopadding-alt:0in 5.4pt 0in 5.4pt; mso-para-margin:0in; mso-para-margin-bottom:.0001pt; msopagination:widow-orphan; font-size:11.0pt; font-family:”Calibri”,”sans-serif”; mso-ascii-font-family:Calibri; mso-ascii-theme-font:minor-latin; mso-fareast-font-family:”Times New Roman”; mso-fareast-theme-font:minorfareast; mso-hansi-font-family:Calibri; mso-hansi-theme-font:minor-latin; mso-bidi-font-family:”Times New Roman”; mso-bidi-theme-font:minor-bidi;} LAREDO, Texas — Start the new year knowing your credit is in good standing and your credit report is accurate. Under the Fair Credit Reporting Act, consumers can receive a free copy of their credit report from each of the three nationwide reporting agencies — Experian, Equifax and TransUnion — every 12 months. “Pulling your credit report annually is a smart way for consumers to under…………… continues on Laredo Sun … Read the full article Category: Improve Credit Score | Tags: credit, Improve, resolutions, score, steps
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