tag:blogger.com,1999:blog-65229656885301808432024-03-07T20:57:21.059-08:00Credit Management SolutionsAnonymoushttp://www.blogger.com/profile/05832297840855633560noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-6522965688530180843.post-11060664857925414562015-06-15T06:46:00.002-07:002015-06-15T06:57:36.338-07:00BAD CREDIT RUINS LIVES<div style="margin-bottom: .0001pt; margin: 0in; text-align: justify;">
<span style="font-family: Arial, sans-serif;">Bad credit ruins
lives. The difference between living life and struggling to survive is
based completely on credit quality. Let’s look at a car as a simple
example. Most people in today’s society need a vehicle to get around.</span></div>
<div style="color: null; margin-bottom: .0001pt; margin: 0in; text-align: justify;">
<span style="font-family: Arial, sans-serif;"> </span><span style="font-family: Arial, sans-serif; font-size: 9pt;"> <o:p></o:p></span></div>
<div style="color: null; margin-bottom: .0001pt; margin: 0in; text-align: justify;">
<span style="font-family: Arial, sans-serif;">A $20,000 car loan with good
credit will cost approximately $322 monthly. This is based on a 5%
interest rate for 72 months. The exact same $20,000 car loan with bad
credit will cost approximately $541 monthly. This is based on a 21%
interest rate for 60 months (bad credit means a higher rate and shorter term).</span><span style="font-family: Arial, sans-serif; font-size: 9pt;"> <o:p></o:p></span></div>
<div style="color: null; margin-bottom: .0001pt; margin: 0in; text-align: justify;">
<span style="font-family: Arial, sans-serif;"> </span><span style="font-family: Arial, sans-serif; font-size: 9pt;"> <o:p></o:p></span></div>
<div style="color: null; margin-bottom: .0001pt; margin: 0in; text-align: justify;">
<span style="font-family: Arial, sans-serif;">This is the same car, but
one is costing $219 more EVERY month. The person with good credit will pay
$23,184 for their car. The consumer with bad credit will pay $32,460 for
the same car. That’s a $9,276 difference. This means the same car
will cost the consumer with bad credit 46% more than the one with good credit.</span><span style="font-family: Arial, sans-serif; font-size: 9pt;"> <o:p></o:p></span></div>
<div style="color: null; margin-bottom: .0001pt; margin: 0in; text-align: justify;">
<span style="font-family: Arial, sans-serif;"> </span><span style="font-family: Arial, sans-serif; font-size: 9pt;"> <o:p></o:p></span></div>
<div style="color: null; margin-bottom: .0001pt; margin: 0in; text-align: justify;">
<span style="font-family: Arial, sans-serif;">These examples are not
extreme. These are based on common interest rates you will actually see
on a $20,000 auto loan.</span><span style="font-family: Arial, sans-serif; font-size: 9pt;"> <o:p></o:p></span></div>
<div style="color: null; margin-bottom: .0001pt; margin: 0in; text-align: justify;">
<span style="font-family: Arial, sans-serif;"> </span><span style="font-family: Arial, sans-serif; font-size: 9pt;"> <o:p></o:p></span></div>
<div style="color: null; margin-bottom: .0001pt; margin: 0in; text-align: justify;">
<span style="font-family: Arial, sans-serif;">Rent and home expenses are
another area where customers get taken for great amounts of interest. A
$100,000 mortgage costs a good credit consumer $577 monthly and $207,720 over
30 years. The same home would cost a family with challenged credit $841 monthly
and $302,760 over 30 years. </span><span style="font-family: Arial, sans-serif; font-size: 9pt;"><o:p></o:p></span></div>
<div style="color: null; margin-bottom: .0001pt; margin: 0in; text-align: justify;">
<span style="font-family: Arial, sans-serif;"> </span><span style="font-family: Arial, sans-serif; font-size: 9pt;"> <o:p></o:p></span></div>
<div style="color: null; margin-bottom: .0001pt; margin: 0in; text-align: justify;">
<span style="font-family: Arial, sans-serif;">The consumer with good
credit will pay $264 less per month and save $95,040 over the lifetime of the
loan. That means the person with bad credit will pay $95,040 more in
interest for a $100,000 loan, due to their credit.</span><span style="font-family: Arial, sans-serif; font-size: 9pt;"> <o:p></o:p></span></div>
<div style="color: null; margin-bottom: .0001pt; margin: 0in; text-align: justify;">
<span style="font-family: Arial, sans-serif;"> </span><span style="font-family: Arial, sans-serif; font-size: 9pt;"> <o:p></o:p></span></div>
<div style="color: null; margin-bottom: .0001pt; margin: 0in; text-align: justify;">
<span style="font-family: Arial, sans-serif;">Credit cards might cost $116
more monthly based on credit. Utility payments are higher, insurance payments
are more, and so are many other regular family expenses.</span><span style="font-family: Arial, sans-serif; font-size: 9pt;"> <o:p></o:p></span></div>
<div style="color: null; margin-bottom: .0001pt; margin: 0in; text-align: justify;">
<span style="font-family: Arial, sans-serif;"> </span><span style="font-family: Arial, sans-serif; font-size: 9pt;"> <o:p></o:p></span></div>
<div style="color: null; margin-bottom: .0001pt; margin: 0in; text-align: justify;">
<span style="font-family: Arial, sans-serif;">Most people know credit has
an adverse effect on their life. But the truth is, bad credit controls their
lives. Outrageous amounts of extra interest are being charged each and
every month. That debt and those higher payments strap most families,
forcing them to live paycheck-to-paycheck. </span><span style="font-family: Arial, sans-serif; font-size: 9pt;"><o:p></o:p></span></div>
<div style="color: null; margin-bottom: .0001pt; margin: 0in; text-align: justify;">
<span style="font-family: Arial, sans-serif;"> </span><span style="font-family: Arial, sans-serif; font-size: 9pt;"> <o:p></o:p></span></div>
<span style="font-family: Arial, sans-serif; font-size: 12pt;">Bad credit ruins lives; EVERYONE CAN AND DOES DESERVE a chance at good credit. We ALL make mistakes and we can recover from them. Don't settle for bad credit! </span>Anonymoushttp://www.blogger.com/profile/05832297840855633560noreply@blogger.com0tag:blogger.com,1999:blog-6522965688530180843.post-7264173341720796682015-04-06T07:08:00.001-07:002015-04-06T07:08:14.463-07:00America's Past time is here - MLB OPENING DAY! Have a problem with your credit report? online dispute system is BROKEN!The ability for consumers to dispute information on their credit reports was created to provide the method to correct problems with our credit reports. It's a GRAND idea and very much needed in this day and age of electronic records, background checks, credit reports, currency, banking, etc. However, this system has turned into an automated fiasco with nobody - not the credit bureaus or the furnisher (creditors, collection agencies, etc) - taking the responsibility for incorrect information on credit reports. <br />
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The automated online SYSTEM has become fundamentally flawed! It uses systems such as e-OSCAR and OCR to continuously "parrot" information back and forth from the furnishers to the credit reporting agencies. In other words, the information that reported incorrectly to your credit report (that you dispute) will be confirmed...by that SAME information that was wrong to begin with!<br />
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The FCRA (Fair Credit Reporting Act) grants you the right to a "full and complete investigation at no expense to the consumer" into accounts on your credit report that you request. Because of these automated systems mentioned above, there are NO REAL INVESTIGATIONS completed. It has become an automated process of sending and receiving information between the financial institution and the credit reporting agencies. This process BARELY satisfies the FCRA regulations and FREQUENTLY violates the law and your rights.<br />
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On top of all of this, the TRUE kicker is that when it comes to online disputing, the credit reporting agencies seem to have found a method to turn their incorrectly and erroneous reporting against your credit reports into a profit center. When consumers dispute online, there is literally no interactions with HUMANS needed to complete a real investigation (even though it should be noted that that human interaction for the dispute process is almost entirely forwarded out of the country for extremely cheap labor costs). Online disputes are handled 100% by computer systems; eliminating the COST of labor to conduct the investigation. Meanwhile, the credit reporting agencies still CHARGE the data furnishers for the errors.<br />
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Filing disputes online only MAKES the credit bureaus money (don't they have enough of it by now?) AND more than likely doesn't fix ANY true problems. On top of this, it also waives your RIGHTS to know what actually happened (Dig in deeper here: http://goo.gl/TqoGZ0 ). <br />
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The lazy days of summer are here. May your favorite MLB team win it all! Don't lay down and allow the electronic world of information win it all - you matter; the consumer matters!Anonymoushttp://www.blogger.com/profile/05832297840855633560noreply@blogger.com0tag:blogger.com,1999:blog-6522965688530180843.post-19458020377313288142015-01-19T10:28:00.001-08:002015-01-19T10:28:24.080-08:00YOUR RIGHTS vs. Collections!<div style="margin-bottom: .0001pt; margin: 0in; text-align: justify;">
<span style="font-family: Arial, sans-serif;">The Fair Debt Collection
Practices Act (FDCPA) is a law which protects you from unfair and
unethical debt collection practices. This law can be very helpful in stopping collection company harassment and abuse.</span><span style="font-family: Arial, sans-serif; font-size: 9pt;"> <o:p></o:p></span></div>
<div style="color: null; margin-bottom: .0001pt; margin: 0in; text-align: justify;">
<span style="font-family: Arial, sans-serif;"> </span><span style="font-family: Arial, sans-serif; font-size: 9pt;"> <o:p></o:p></span></div>
<div style="color: null; margin-bottom: .0001pt; margin: 0in; text-align: justify;">
<span style="font-family: Arial, sans-serif;">One benefit of this is that you can stop these collection companies from contacting them by phone or in writing. It is important to note that in the case of a valid debt, you don't want to take away BOTH avenues from the agency in question. If you demand a "cease and desist" from calling or writing you, you'll leave them only one method to collection - civil court. Prepare a "cease and desist" letter and force the agency to stop the contact in the method you desire (recommend phone).</span></div>
<div style="color: null; margin-bottom: .0001pt; margin: 0in; text-align: justify;">
<br /></div>
<div style="color: null; margin-bottom: .0001pt; margin: 0in; text-align: justify;">
<span style="font-family: Arial, sans-serif;">Some other restrictions from
the FDCPA include:</span><span style="font-family: Arial, sans-serif; font-size: 9pt;"> <o:p></o:p></span></div>
<ul type="disc">
<li class="MsoNormal" style="text-align: justify;"><span style="font-family: "Arial",sans-serif; mso-fareast-font-family: "Times New Roman";">A
creditor cannot imply that many people are involved in the collection of a
debt, if only a few employees really work for the company.</span><span style="font-family: "Arial",sans-serif; font-size: 9.0pt; mso-fareast-font-family: "Times New Roman";"> <o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span style="font-family: "Arial",sans-serif; mso-fareast-font-family: "Times New Roman";">Cannot
threaten to collect or sue for “collection costs” including attorney fees
and non-pre-arranged interest.</span><span style="font-family: "Arial",sans-serif; font-size: 9.0pt; mso-fareast-font-family: "Times New Roman";">
<o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span style="font-family: "Arial",sans-serif; mso-fareast-font-family: "Times New Roman";">Cannot
threaten to sue or take any legal action against you unless the threat is
followed through </span><span style="font-family: "Arial",sans-serif; font-size: 9.0pt; mso-fareast-font-family: "Times New Roman";"> <o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span style="font-family: "Arial",sans-serif; mso-fareast-font-family: "Times New Roman";">Cannot
pretend they are legal counsel or an attorney when they are not</span><span style="font-family: "Arial",sans-serif; font-size: 9.0pt; mso-fareast-font-family: "Times New Roman";"> <o:p></o:p></span></li>
<li class="MsoNormal" style="text-align: justify;"><span style="font-family: "Arial",sans-serif; mso-fareast-font-family: "Times New Roman";">Cannot
falsely claim that the debt, if left unpaid, will be moved to an attorney
or other debt collector</span><span style="font-family: "Arial",sans-serif; font-size: 9.0pt; mso-fareast-font-family: "Times New Roman";"> <o:p></o:p></span></li>
</ul>
<div style="color: null; margin-bottom: .0001pt; margin: 0in; text-align: justify;">
<span style="font-family: Arial, sans-serif;">These are a few of many
restrictions the FDCPA puts upon debt collectors. Knowing these rights
will help you deal with these unethical debt practices in
the future and stop creditor harassment.</span><span style="font-family: Arial, sans-serif; font-size: 9pt;"> <o:p></o:p></span></div>
<div style="color: null; margin-bottom: .0001pt; margin: 0in; text-align: justify;">
<span style="font-family: Arial, sans-serif;"> </span><span style="font-family: Arial, sans-serif; font-size: 9pt;"> <o:p></o:p></span></div>
<div style="color: null; margin-bottom: .0001pt; margin: 0in; text-align: justify;">
<span style="font-family: Arial, sans-serif;">Any of these violations can
lead to a potential lawsuit and can help you have the negative
account agreeably removed from the credit report. Have a wonderful day!</span></div>
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<span style="font-family: Arial, sans-serif;"><br /></span></div>
<div style="color: null; margin-bottom: .0001pt; margin: 0in; text-align: justify;">
<span style="font-family: Arial, sans-serif;">Your Friends at Credit Management Solutions! http://www.cmscreditrepair.com </span></div>
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<span style="font-family: Arial, sans-serif;"> </span><span style="font-family: Arial, sans-serif; font-size: 9pt;"> <o:p></o:p></span></div>
Anonymoushttp://www.blogger.com/profile/05832297840855633560noreply@blogger.com0tag:blogger.com,1999:blog-6522965688530180843.post-48781370545341885162015-01-12T08:45:00.002-08:002015-01-12T08:50:05.139-08:00Stop Renting, Buy. New Year's Resolution for many in 2015!<span style="font-family: Arial, Helvetica, sans-serif;">One of the top resolutions made this year is to stop throwing money away on rent and finally BUY your own place. This statement is true for millions of Americans as we move into 2015 in earnest! One of the most important things you can do to make this resolution become a reality is to have game plan! What should you do FIRST? </span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"><br />The most important thing you can do is STRENGTHEN YOUR CREDIT SCORE!!!! Don't wait until a lender is pulling your credit. Don't wait until you've found the house of your dreams. You need to begin working on this NOW. The higher your credit score, the better financing options become.</span><br />
<div>
<span style="font-family: Arial, Helvetica, sans-serif;">It is true that many qualified borrowers can be approved for home loans with scores between 580-640. However, the market today is looking for borrowers with 640+ as a minimum. Further, scores of 700+ usually will get you a good deal and 750 and above will garner you the best rates and pricing on the market.</span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"><br /></span>
<span style="font-family: Arial, Helvetica, sans-serif;">Follow the steps below and give yourself the best chance of obtaining your dream!</span><br />
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<span style="font-family: Arial, Helvetica, sans-serif;"><u><b>Step ONE: <span style="color: #2e3a50;">P</span></b></u></span><span style="font-family: Arial, Helvetica, sans-serif;"><u><b>ull your credit reports</b> </u>and ensure you're not being unfairly penalized for old, paid or settled debts. Do this now! Don't wait until the lender pulls your credit to find out what is hurting your scores! </span><span style="font-family: Arial, Helvetica, sans-serif;">Stop applying for new credit and do everything possible to REDUCE your debt prior to application. Ideally, when the lender pulls your credit report, it is the only time it has been pulled in the past 12 months (you personally obtaining your credit report does not count as a pull or inquiry).</span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"><br /></span>
<span style="font-family: Arial, Helvetica, sans-serif;"><b><u>Step TWO: What can I afford?</u> </b>You will not have a problem getting approved for a home when the payment you are attempting to qualify does not exceed 30% of your GROSS monthly income. If you're salaried at $50K annually ($4166/monthly) - 30% of your gross income is $1250. Go use a mortgage calculator with current mortgage rates to determine what price range should fit inside your budget. Be aware if you carry alot of other debt, you may have to revise your number later.</span><br />
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<b style="font-family: Arial, Helvetica, sans-serif; text-decoration: underline;">Step THREE: Save, Save, Save</b><span style="font-family: Arial, Helvetica, sans-serif;"> With the exception of a VA loan or a few other programs that are in existence, you will need to have anywhere from 3% to 20% to be able to put as a down payment for you home. Be aware that this is your down payment and will have additional costs/fees to be paid out of pocket. Not only do you need to have this money for these purposes, but it is also a very good thing to be in the habit of putting money away. Owning a home is fantastic...and expensive. Expect to spend 3-5% of your home's value on upkeep annually. If you're living paycheck to paycheck, you need to create habits that begin to build a rescue fund for when you suddenly have to replace that water heater .</span><br />
<b style="font-family: Arial, Helvetica, sans-serif;"><br /></b>
<u style="font-family: Arial, Helvetica, sans-serif; font-weight: bold;">Step FOUR: Pre-Appoval</u><span style="font-family: Arial, Helvetica, sans-serif;"> The #1 thing you can do when seriously considering home ownership is to have EVERYTHING in order prior to contacting the lender. Do everything you can do pay down your debt, clean up your credit report, and have your down-payment/cash saved prior to talking to the lender. Your process of home-ownership doesn't begin when getting your pre-approval. It begins months and even years before.</span><br />
<b style="font-family: Arial, Helvetica, sans-serif;"><br /></b>
<u style="font-family: Arial, Helvetica, sans-serif; font-weight: bold;">Step FIVE - LOVE the House you Buy</u><span style="font-family: Arial, Helvetica, sans-serif;"> Don't skip any steps! Don't put the cart before the horse. Whatever you do, do NOT fall in love with a house you cannot afford. Now is the time after the first 4 steps to find out what you love and purchase the home that MOST fits your loves. This home is to be something that will make you happy for years to come! Be sure to LOVE it when you buy it!</span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"><br /></span>
<span style="font-family: Arial, Helvetica, sans-serif;">Keep in mind the preappoval to closing process is MUCH MORE EXTENSIVE than it was a few years ago. Even if this is your 5th home purchase and you've never had to provide that before; understand that the quicker your provide what is requested by the lender, the quicker and easier the process becomes for everyone involved! Happy 2015 and Happy Home Buying!!</span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"><br /></span>
<span style="font-family: Arial, Helvetica, sans-serif;">David Villmow is the Director of Credit Management Solutions specializing in credit consulting, restoration, and management for the mortgage industry. Check Credit Management Solutions out online: <a href="http://www.cmscreditrepair.com/">http://www.cmscreditrepair.com</a> </span><br />
<span style="font-family: Arial, Helvetica, sans-serif;"><br /></span></div>
Anonymoushttp://www.blogger.com/profile/05832297840855633560noreply@blogger.com0tag:blogger.com,1999:blog-6522965688530180843.post-42655680390014298462014-11-21T08:44:00.002-08:002014-11-21T08:44:27.792-08:00Should I get a pre-paid credit card?Simple answer is "almost never." They are basically gift cards, nothing more. It's understandable that some people have trouble obtaining a bank account, but, when/if you can, you should avoid using pre-paid credit cards.<br />
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As stated above, pre-paid credit cards are basically gift cards. In fact, many of us have received these cards AS gifts in our stockings or event cards. Getting these are fantastic gifts and we all love them, however, there is virtually no upside for consumers to get pre-paid credit cards for personal use, especially when considering the normally high fees that are associated with these cards. To top it all, pre-paid cards do not report to your credit report. If you're going to use your own money to obtain your own pre-paid credit card (that you will also use), you may as well put your spending habits to work building your credit!<br />
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An alternative to pre-paid credit cards are SECURED credit cards. MOST secured credit cards report to all 3 credit bureaus; you'll be adding history to your credit report every time you use these cards. Important NOTE: Your deposit is the collateral for which you are granted the line of credit. It is NOT meant to be the replacement to making your payments on your secured credit card. Make your payments like you would any other bill. <br />
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For a list of secured credit cards with some great rates, <a href="http://www.cmscreditrepair.com/get-a-secured-credit-card-.php" target="_blank">CLICK HERE</a>!<br />
<br />
<br />
<br />Anonymoushttp://www.blogger.com/profile/05832297840855633560noreply@blogger.com0tag:blogger.com,1999:blog-6522965688530180843.post-40280344489198579702014-11-03T13:57:00.000-08:002014-11-05T07:56:56.801-08:00Denied for "Pre-Approval"????? Credit Bureaus selling your information.That notorious junk mail. The Credit Card offers. The PRE-APPROVAL letters. It does have it's place. We've all seen one that generated genuine interest; ESPECIALLY for those that have been denied the past few times they applied for a credit card or a loan. A Pre-Approval is NOT an approval...it's simply a direct mail advertisement. Period.<br />
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The company that sent you that pre-approved letter may have a "special code" generated for your "approval." They may have included an application to fill out or a website to visit to more quickly generate your approval status. No matter how official these may look, these are misleading and confusing.<br />
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These companies have massive marketing budgets and departments designed solely to get consumers to apply for credit regardless whether they qualify or not. The truth is, these companies PURCHASED your information from the credit bureaus along with hundreds, thousands, and possibly millions of others that possibly fit their marketing criteria (credit scores, income levels, demographics, etc). <br />
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The credit bureaus are not on your side. They LOVE it when these companies purchase this information as it will generate FURTHER revenue for them. They generate revenue when they sell your information to be marketed to and then sell it again in the form of your credit report when you apply for these offers. Just remember, these are simply advertisements and you're receiving them because you fit the model to be a lead for this ad.<br />
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A hard inquiry into your credit report will still be required and can count against your scores when. Too many of these inquiries WILL hinder your scores. Be careful and selective; pre-approval letters are simply ads to get you to apply. It is very common for consumers to receive these letters and still be denied. It will NEVER hurt your credit to receive these offers. It CAN hurt your credit if you apply for too many of them.<br />
If you'd like to be removed COMPLETELY from these go to: <a href="http://www.optoutprescreen.com/">www.optoutprescreen.com</a><br />
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Be careful, be educated, be informed!<br />
From,<br />
Your friends at Credit Management Solutions<br />
<a href="http://www.cmscreditrepair.com/">www.cmscreditrepair.com</a><br />
<br />Anonymoushttp://www.blogger.com/profile/05832297840855633560noreply@blogger.com0tag:blogger.com,1999:blog-6522965688530180843.post-28574457914653963682014-10-07T12:06:00.001-07:002014-10-07T12:06:50.396-07:00Winner announced for 100% Free Credit Maintenance Program!<iframe allowfullscreen="" frameborder="0" height="344" src="https://www.youtube.com/embed/kzgP8nLeWmY" width="459"></iframe><br />Anonymoushttp://www.blogger.com/profile/05832297840855633560noreply@blogger.com0tag:blogger.com,1999:blog-6522965688530180843.post-10943371983804286052014-10-03T07:40:00.001-07:002014-10-03T07:40:15.131-07:00PERFECT SCORE BOOSTING STRATEGY WITH CREDIT CARDS!<div style="line-height: normal; margin: 0in 0in 8pt; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<i style="mso-bidi-font-style: normal;"><span style="color: black; font-family: "Verdana","sans-serif"; font-size: 12pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">As we now
know, 35% of your credit score is based upon your payment history and 30% of
your score is based upon your "Credit Utilization."<span style="mso-spacerun: yes;"> </span>In other words, your CREDIT CARDS can have a
major impact on your credit scores because they have BOTH a payment history AND
are <u>the element</u> that generates your credit utilization.<span style="mso-spacerun: yes;"> </span>Credit Cards have an impact on 65% of your credit
score!</span></i></div>
<div style="line-height: normal; margin: 0in 0in 8pt; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<i style="mso-bidi-font-style: normal;"><span style="color: black; font-family: "Verdana","sans-serif"; font-size: 12pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">Simply
put, credit utilization is the ratio of the amount of credit offered to you vs.
the amount you currently use.<span style="mso-spacerun: yes;"> </span>If you
have a credit card (CC) with a $1000 limit and you carry a balance of $600, you
are 60% credit utilization.<span style="mso-spacerun: yes;"> </span>Same thing
applies to multiple cards, if you have 10 cards with a $1000 limit each, and
you carry a balance of $600, you still have a 60% credit utilization.</span></i></div>
<div style="line-height: normal; margin: 0in 0in 8pt; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<i style="mso-bidi-font-style: normal;"><span style="color: black; font-family: "Verdana","sans-serif"; font-size: 12pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">For a
GOOD credit utilization, you want to be at our below 30%.<span style="mso-spacerun: yes;"> </span>When you are below 30% utilization, your
score gets positive influence from your credit cards (assuming you’re making
your payments on time and don’t forget that AGE of accounts does account for 10%
of your scores as well).</span></i></div>
<div style="line-height: normal; margin: 0in 0in 8pt; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<i style="mso-bidi-font-style: normal;"><span style="color: black; font-family: "Verdana","sans-serif"; font-size: 12pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">Now, what
is PERFECT credit utilization and how do you get there?<span style="mso-spacerun: yes;"> </span></span></i></div>
<div style="line-height: normal; margin: 0in 0in 8pt; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<i style="mso-bidi-font-style: normal;"><span style="color: black; font-family: "Verdana","sans-serif"; font-size: 12pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">Common
misconception: “I pay off my credit card in full every month so I carry a $0
balance.<span style="mso-spacerun: yes;"> </span>That’s perfect right?”<span style="mso-spacerun: yes;"> </span>WRONG.<span style="mso-spacerun: yes;">
</span></span></i></div>
<div style="line-height: normal; margin: 0in 0in 8pt; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<i style="mso-bidi-font-style: normal;"><span style="color: black; font-family: "Verdana","sans-serif"; font-size: 12pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">First of
all, the utilization is based upon when your creditor REPORTS to your credit
report.<span style="mso-spacerun: yes;"> </span>Let’s just say a credit card is
due on the 1<sup>st</sup> and you pay it to $0 on the due date every
month.<span style="mso-spacerun: yes;"> </span>This does NOT mean your credit
report will say $0 balance on this card.<span style="mso-spacerun: yes;">
</span>It’s based on WHEN the creditor reports information.<span style="mso-spacerun: yes;"> </span></span></i></div>
<div style="line-height: normal; margin: 0in 0in 8pt; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<i style="mso-bidi-font-style: normal;"><span style="color: black; font-family: "Verdana","sans-serif"; font-size: 12pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">Example,
you pay off this credit card in full every month on the 1<sup>st </sup>(due
date), BUT you have your power bill or cell phone bill – or any number of bills
that come out automatically on the 2<sup>nd</sup> and this creditor reports to
the credit bureaus on the 5<sup>th</sup> of every month.<span style="mso-spacerun: yes;"> </span>Those bills that are paid by this account and
anything else charged between the 1<sup>st</sup> and the 5<sup>th</sup> show up
as the “current” balance of the account on the reporting date.</span></i></div>
<div style="line-height: normal; margin: 0in 0in 8pt; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<i style="mso-bidi-font-style: normal;"><span style="color: black; font-family: "Verdana","sans-serif"; font-size: 12pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">Secondly,
Perfect utilization is actually 1%. Why you ask?<span style="mso-spacerun: yes;"> </span>Credit reports can’t see that you are paying
a debt off constantly.<span style="mso-spacerun: yes;"> </span>If you pay it
down to $0 every month and it reports $0 every month, the credit scoring model
ONLY sees a carrying balance of $0.<span style="mso-spacerun: yes;"> </span>If
you are DEAD serious about building your credit score, you want to develop a
strategy that reports a 1% utilization to your credit!</span></i></div>
<div style="line-height: normal; margin: 0in 0in 8pt; mso-margin-bottom-alt: auto; mso-margin-top-alt: auto;">
<i style="mso-bidi-font-style: normal;"><span style="color: black; font-family: "Verdana","sans-serif"; font-size: 12pt; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">Credit
Cards – Perfectly Utilized:<span style="mso-spacerun: yes;"> </span>MOST if not
ALL of creditors report to the credit bureaus your account information within 7
days of the due date.<span style="mso-spacerun: yes;"> </span>If you want the
BEST possible report, pay down your balance to 1% of the line (of some
negligible number - $5); then, do NOT USE YOUR CARD FOR 7 days.<span style="mso-spacerun: yes;"> </span>You WANT the creditor to report that negligible
(1%) balance on their reporting date.<span style="mso-spacerun: yes;"> </span>1%
Credit Utilization is BEST POSSIBLE ratio for your score AND the credit scoring
models can tell that you are constantly using the card and paying back down to
PERFECT utilization.<span style="mso-spacerun: yes;"> </span>After that 7 day
window, you’re safe to again begin using the account as you normally would.</span></i></div>
<div style="line-height: normal; margin: 0in 0in 0pt;">
<span lang="EN" style="color: black; font-family: "Verdana","sans-serif"; font-size: 12pt; mso-ansi-language: EN; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"> </span></div>
<div style="line-height: normal; margin: 0in 0in 0pt;">
<br /></div>
<span lang="EN" style="color: black; font-family: "Verdana","sans-serif"; font-size: 12pt; mso-ansi-language: EN; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><div style="line-height: normal; margin: 0in 0in 0pt;">
<span style="font-family: Times New Roman;">
</span></div>
<div style="line-height: normal; margin: 0in 0in 0pt;">
<i><span lang="EN" style="color: black; font-family: "Verdana","sans-serif"; font-size: 12pt; mso-ansi-language: EN; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">-</span></i><span lang="EN" style="color: black; font-family: "Verdana","sans-serif"; font-size: 12pt; mso-ansi-language: EN; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">David
Villmow</span></div>
<div style="line-height: normal; margin: 0in 0in 0pt;">
<span style="font-family: Times New Roman;">
</span></div>
<div style="line-height: normal; margin: 0in 0in 0pt;">
<span lang="EN" style="color: black; font-family: "Verdana","sans-serif"; font-size: 12pt; mso-ansi-language: EN; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">Director and Sr. Credit Advisor at Credit
Management Solutions</span></div>
<div style="line-height: normal; margin: 0in 0in 0pt;">
<span style="font-family: Times New Roman;">
</span></div>
<div style="line-height: normal; margin: 0in 0in 0pt;">
<span lang="EN" style="color: black; font-family: "Verdana","sans-serif"; font-size: 12pt; mso-ansi-language: EN; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";">(904) 579-4312</span></div>
<div style="line-height: normal; margin: 0in 0in 0pt;">
<span style="font-family: Times New Roman;">
</span></div>
<div style="line-height: normal; margin: 0in 0in 0pt;">
<a href="mailto:david@cmscreditrepair.com"><span lang="EN" style="font-family: "Verdana","sans-serif"; font-size: 12pt; mso-ansi-language: EN; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><span style="color: #0563c1;">david@cmscreditrepair.com</span></span></a></div>
<div style="line-height: normal; margin: 0in 0in 0pt;">
<span style="font-family: Times New Roman;">
</span></div>
<div style="line-height: normal; margin: 0in 0in 0pt;">
<span lang="EN" style="color: black; font-family: "Verdana","sans-serif"; font-size: 12pt; mso-ansi-language: EN; mso-bidi-font-family: "Times New Roman"; mso-fareast-font-family: "Times New Roman";"><a href="http://www.cmscrditrepair.com/"><span style="color: #0563c1;">www.cmscrditrepair.com</span></a>
</span></div>
<div style="line-height: normal; margin: 0in 0in 0pt;">
<span style="font-family: Times New Roman;">
</span></div>
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<br /></div>
Anonymoushttp://www.blogger.com/profile/05832297840855633560noreply@blogger.com0tag:blogger.com,1999:blog-6522965688530180843.post-19982607230114942482014-09-26T07:48:00.001-07:002014-09-26T07:56:00.268-07:00Credit Repair SCAM - how it worked.Credit Repair Services received a bad reputation in the past few years because of some shady individuals out to make a quick buck off on unknowing consumers. The scam revolved around the among other things, the XB codes on credit reports in response to disputes; unscrupulous individuals saw a chance to make a quick buck by "guaranteeing" immediate improvement of credit scores. They charge outrageous up-front sums of money; collected the money and then filed a blanket "*not mine" dispute on every negative account on your credit report.<br />
<br />
<br />
*Lying on a dispute is never REAL credit repair. The only form of real credit revolves around FACTUAL Disputes - protection of consumer rights as laid out by FCRA, HIPPA, FACTA, etc.<br />
<br />
<br />
Anyway, these scam credit repair companies take your money, file the disputes, and then after a few days re-pull your credit report showing the AMAZING jump in credit scores seemingly overnight. This is exposed as a scam after the "dispute" (I want to call lying) process runs it course and these items that were disputed suddenly begin counting against the client scores again. When an item is in "dispute," it will state so on the credit report and also place a code (XB) on the report so that the scoring model does NOT account for the derogatory information on the account against the score. Once this "in dispute" code (XB) is removed from that account - it is again accounted for in the score.<br />
<br />
<br />
Hmmm...remember that "company" that took your money...they are suddenly no where to be found, don't return phone calls....<br />
<br />
<br />
SCAM.<br />
<br />
<br />
REAL CREDIT REPAIR is done by REAL Credit Professionals.<br />
Credit Management Solutions<br />
<a href="http://www.cmscreditrepair.com/">http://www.cmscreditrepair.com</a><br />
904-579-4312<br />
<br />
<br />
<br />
<br />
<br />Anonymoushttp://www.blogger.com/profile/05832297840855633560noreply@blogger.com0tag:blogger.com,1999:blog-6522965688530180843.post-41970222956985341082014-09-23T07:32:00.002-07:002014-09-26T07:49:26.084-07:00Do Not File Disputes Online with the Credit Bureaus! Why!?Do Not File Disputes Online with the Credit Bureaus!<br />
Why? "Expeditious Dispute Resolution" Section in FCRA (Section 611a(8)) states, "The agency shall not be required to comply with the paragraphs 2, 6, and 7 with respect to that dispute if they delete the trade line within 3 days."<br />
<br />
<br />
Paragraph 2 - Forward your dispute to the creditor along with the provided documentation.<br />
Paragraph 6 - Send you the results of the dispute in writing<br />
Paragraph 7 - Provide the items that verify the information<br />
<br />
<br />
Disputing your accounts online through this "expedited process" essentially ensures that NOTHING happens permanently or positively to your credit report. In response to an online dispute (which is ENCOURAGED and desirable by agencies (Equifax, Experian, and Transunion), the agency in question can do 1 of 2 things. <br />
<br />
<br />
1 - Delete the item within 3 days. Sounds great, right?! Wrong. If they agency deletes the item within 3 days, the agency does not have to comply with paragraphs 2,6, and 7. (Paragraph 2)They do not have to forward the dispute to the creditor. Creditor isn't even notified that the item is in dispute. (Paragraph 6) They do not have to tell you what they did. (Paragraph 7)They don't have to provide any information needed to verify the information. What happens here is you file this dispute, you hear nothing back from anybody and when the next period comes back around for the original creditor to report to credit (creditors report information typically every 30 days) - the item reappears on credit EXACTLY as it was before.<br />
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<br />
2 - Send your dispute using the e-Oscar dispute resolution system that is in place. This system takes your entire dispute and dilutes it down to 1 of 26 existing codes. It should be mentioned that over 90% of all online disputes are diluted into one of 5 codes rendering the other 21 codes literally unused or useless. The creditor then received a notice from the credit bureau with a code about your account (such as code 001 - "not mine"); the creditor checks it's records and replies back - verified account it's yours.<br />
Long story short - the credit agency either does nothing, doesn't tell you it did nothing, and nothing happens OR the credit agency asks the original reporting creditor if they information they reported is correct. In every single case, the creditor is going to check its records that it used in the FIRST place to report to your credit report and reply back that the information is correct.<br />
<br />
<br />
Do not put yourself through this experience. Call a professional credit restoration/repair/consulting company. Get real advice on how to protect YOUR rights as laid out by FCRA!<br />
<br />
<br />
Credit Management Solutions LLC<br />
904-579-4312Anonymoushttp://www.blogger.com/profile/05832297840855633560noreply@blogger.com0