Archive for November 30, 2014

11 steps to improve your credit score

11 steps to improve your credit score
News from ConsumerReports.org:

Don’t open too many new credit accounts at once

By doing so, you lower the average “age” of your accounts, which can lower your credit score.

Keep credit balances relatively low

Maintaining a revolving credit balance under 10 percent of your total credit line is wise, experts say. A higher ratio indicates an elevated credit risk.

Beware of points-driven high balances

If you charge everything on your rewards card for the points, switch to cash or a debit card for a couple of months before applying for new credit. Lenders can’t tell from your score whether you zero-out your balances every month. They’ll see your credit score, a snapshot in time, showing that you’re charging a lot relative to your credit limit, which is a negative.

Maintain a variety of credit types

Successfully paying, say, an auto loan, a 

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Which Credit Score Should I Pay Attention to?
News from STLtoday.com:

There is no one credit score. There are many.

The one that matters the most is the credit score that a lender looks at when considering your loan or credit card application. So how do you make sense of all of the credit scores out there?

Most lenders use FICO scores or VantageScores when evaluating consumer credit applications. And among those, there are hundreds of custom scores for specific uses. All are based on payment history, debt usage, age of credit accounts, credit mix and credit inquiries — the basics of great credit. And all are designed to predict how likely consumers are to repay a loan. The three major credit reporting agencies have all developed scores as well, and sometimes they develop custom scores for particular clients. Each has its own method to predict which consumers are most — or least — likely to pay loans or credit cards as agreed.

The credit bureaus also make some scores available to consumers. These are often given to consumers for free, and they can be good tools for learning about credit…………… continues on STLtoday.com

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Improve your credit score by making payments on time and keeping cards at a balance less than half the credit limit. Learn how to improve your credit score f…
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How To Escape The Bad Credit Trap And Build Your Small Business

How To Escape The Bad Credit Trap And Build Your Small Business
News from Tech Cocktail:

Investors and small business owners are involved in a never-ending struggle to maintain a steady flow of cash. However, this is not easy to do when bills are piling up at a faster rate than sales can be closed. Yet running out of operating capital is not an option because it can cripple any aspiring company.

Financial problems are further aggravated when the company also has a poor credit score. Moreover, unless it is repaired, it can be almost impossible to finance projects because it will be hard to borrow money from banks and credit unions.

Banks Risk-Averse

Although the economy has been improving over the past few years, it is still difficult to get a business loan. This is particularly true for a company that has some blemishes in its credit history. Most banks and credit unions are unwilling to give a small business owner a loan if their credit scores are below average.

The Trap

Ironically, banks are not willing to admit that a company may have valid reasons for a poor credit score. After the financial crisis in 2008, there was an economic downturn for the next two years, w…………… continues on Tech Cocktail

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Film Review: ‘The Mule’
News from Variety:

If some movies leave you feeling in need of a shower afterward, then nothing short of a colostomy will do after a viewing of “The Mule,” an excremental but hardly execrable Australian comedy-drama that plays like the klutzy, sheets-soiling stepbrother of “Maria Full of Grace.” A triple-threat showcase for co-director, co-writer and star Angus Sampson, cast as a lunkheaded amateur crook who attempts to smuggle several pounds of Thai heroin in his gastrointestinal tract, Tony Mahony’s directing debut brings new meaning to the term “gut-wrenching suspense,” its scatological-time-bomb premise lending a darkly funny novelty to the otherwise routine crime-thriller shenanigans. Well traveled on the festival circuit following its SXSW premiere, the pic could enjoy decent theatrical runs.

To his partial credit, oafish loser Ray Jenkins (Sa…………… continues on Variety

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Credit Repair Services Canada Launches to Help Those with Bad Credit Find …

Credit Repair Services Canada Launches to Help Those with Bad Credit Find …
News from DigitalJournal.com:

Credit Repair Services Canada is a site that offers local credit repair companies a means to connect with their local communities through a new nationwide, neighborhood directory online.

San Francisco, CA — (ReleaseWire) — 11/07/2014 — Bad credit affects millions of people in Canada, and though not as badly affected as some countries by the global economic downturn, the effects for those that have been affected are no less real. As such, there is an increased demand for credit repair companies, who offer to help people form a strategy to eliminate their debt in a fraction of the time, then help ensure they stick to that plan. Credit Repair Services Canada is a newly launched online directory that offers people information on credit repair companies in their locality, listing recommended providers for the best possible results.

The site allows anyone looking for credit consultants to search according to major territories then counties and neighborhoods within them, to find highly rated and recommended debt rel…………… continues on DigitalJournal.com

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Capital Credit Protection Street Signs Raise BBB Concerns

Capital Credit Protection Street Signs Raise BBB Concerns
News from STLtoday.com:

St. Louis, Mo., Nov. 5, 2014Capital Credit Protection, a Florida company that has posted numerous “Repair Bad Credit” advertising signs along St. Louis streets, is headed by a man who appears to have had ties to a similar credit-repair operation that was shut down two years ago by a federal judge.

Better Business Bureau (BBB) is advising St. Louis area consumers to exercise caution when dealing with Capital Credit Protection(also known as Capital Credit Solutions)of Jacksonville, Fla.

 Willie J. McKenzie, president of Capital Credit Protection, appears to have had business ties to Kevin Hargrave through a firm called Lexington Credit Services.  Hargrave, of Florida, was found guilty of civil contempt in Jacksonville in November 2012. The Federal Trade Commission accused Hargrave, his wife, Latrese, and several of their companies of violating a court order to stop selling bo…………… continues on STLtoday.com

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Credit Repair Man For Celebrities Indicted for Allegedly Defrauding Them

Credit Repair Man For Celebrities Indicted for Allegedly Defrauding Them
News from Newsroom America:

(Newsroom America) — The alleged mastermind behind a credit repair scam whose victims included celebrities has been arraigned before U.S. Magistrate Judge Stephen Hillman on an indictment unsealed in federal court.

Keith Lawrence Middlebrook, 46, is charged with 15 counts of mail fraud, four counts of use of fraudulent government seals, bankruptcy fraud, and fifteen counts of aggravated identity theft.

As part of the fraudulent scheme, Middlebrook allegedly sought out clients, including professional athletes and celebrities, and promised to raise his clients’ credit scores by working with credit reporting agencies.

In exchange for this service, Middlebrook charged his clients thousands, and sometimes tens of thousands, of dollars, receiving payment before rendering services, in violation of The Credit Repair Organizations Act, the indictment said.

Middlebrook knew he could not legitimately raise his clients’ credit scores. In making his false promises, Middlebrook failed to inform his clients that he was using illegal means, including submitting fraudulent documents which were purported to be from legitimate agencies, such as U.S. Bankruptcy Court, to support erroneous challenges to his clients’ valid debts, according to the indictment.

As part of the scheme, Middlebrook created, and directed others to create, documents purporting to…………… continues on Newsroom America

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Safety Concerns Persist as Recalled GM Cars Remain Unrepaired – New York Times
News from Safety Concerns Persist as Recalled GM Cars Remain Unrepaired – New York Times:

Photo

Brittany Alfarone on a recent vacation to Hawaii. Ms. Alfarone died in October when her Chevrolet Cobalt crashed into a guardrail in Yonkers.

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The Total Money Makeover: Classic Edition: A Proven Plan for Financial Fitness
The Total Money Makeover: Classic Edition: A Proven Plan for Financial Fitness

If you will live like no one else, later you can live like no one else.Build up your money muscles with America’s favorite finance coach.Okay, folks, do you want to turn those fat and flabby expenses into a well-toned budget? Do you want to transform your sad and skinny little bank account into a bulked-up cash machine? Then get with the program, people. There’s one sure way to whip your finances into shape, and that’s with The Total Money Makeover: Classic Edition.By now, you’ve hear

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