Tag Archive for Personal

Personal finance Q&A: Don’t hire a credit repair firm

Personal finance Q&A: Don’t hire a credit repair firm
News from Los Angeles Times:

Dear Liz: I’m seeking help in reviewing my credit report and how to fix any issues. I am not financially distressed, but have FICO scores in the 675 range. Could you recommend someone I can hire to assist as I need to refinance a house I bought for cash?

Answer: There’s so much fraud in the credit repair industry that you’re likely better off doing it yourself rather than exposing yourself to rip-offs.

Credit repair companies aren’t supposed to take money upfront or promise things they can’t deliver, but many do.

One of the scammers’ most common ploys is to flood the credit bureau with disputes and to take credit for any negative information that temporarily disappears. By the time the negative information pops back up on the file, the scam artists have disappeared with your money.

Another approach they recommend is starting over with a “clean” slate, sometimes using borrowed or stolen identification numbers. That’s fraud, and even if it works, you’ll often find yourself worse off with no credit history than with a flawed history.

The Federal Trade Commission has some helpful advice on do-it-yourself credit repair.

You’ll need to first get copies of your credit reports from each of the three credit bureaus, which you can do o…………… continues on Los Angeles Times

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Do-it-yourself credit repair advice: Money Talk (Q&A)
News from OregonLive.com:

Dear Liz: I’m seeking help in reviewing my credit report and how to fix any issues. I am not financially distressed, but have FICO scores in the 675 range. Could you recommend someone I can hire to assist as I need to refinance a house I bought for cash?

Answer: There’s so much fraud in the credit repair industry that you’re likely better off doing it yourself rather than exposing yourself to rip-offs.

Credit repair companies aren’t supposed to take money upfront or promise things they can’t deliver, but many do.

One of the scammers’ most common ploys is to flood the credit bureau with disputes and to take credit for any negative information that temporarily disappears. By the time the negative information pops back up on the file, the scam artists have disappeared with your money.

Another approach they recommend is starting over with a “clean” slate, sometimes using borrowed or stolen identification numbers. That’s fraud, and even if it works, you’ll often find yourself worse off with no credit history than with a flawed history.

The Federal Trade Commission has some helpful advice on do-it-yourself credit repair.

You’ll need to first get copies of your credit reports from each of the three credit bureaus, which you can do once a year for free at www.annualcreditreport.com. Dispute any inacc…………… continues on OregonLive.com

… Read the full article


7 Ways to Build and Improve Your Personal Credit Score

7 Ways to Build and Improve Your Personal Credit Score
News from Entrepreneur:

In his book The Tax & Legal Playbook, CPA and attorney Mark J. Kohler targets the leading tax and legal questions facing small-business owners, and delivers clear-cut truths, thought-provoking advice, and underutilized solutions to save you time, money, and heartache. In this edited excerpt, the author offers quick tips you can use to start improving your personal credit score, which has a direct impact on whether you can obtain corporate credit.

Corporate credit is the ability of a company to obtain its own loans under its own credit score. Thus, a company (such as an S corp or LLC) can apply for a line of credit and, without the owner’s personal guarantee, use the money to expand its business. The owner of the company isn’t personally liable for the credit line, and their personal credit score has nothing to do with the company’s ability to obtain credit. However, in some instances, having a good personal credit score can expedite the process of obtaining corporate cr…………… continues on Entrepreneur

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Get your credit score ready for home-buying season
News from Times Herald-Record:

Getting ready to buy a home this spring? Make sure there aren’t any cracks in your credit. A good credit score is essential when it comes to securing a mortgage.

“If (your score is) below 600, you’re probably not going to buy a home in the short term,” says Mike Sullivan, director of education at nonprofit credit and debt counseling agency Take Charge America.

Given the slew of stringent regulation introduced following the housing crisis, most lenders simply won’t risk extending this demographic credit. In fact, even consumers with good scores should polish up the ol’ credit report.

Qualifying for the best mortgage rates starts at a 740 credit score. Scores below that threshold will likely have higher interest on their home loans.

So if you plan on hitting up the housing market this April, make sure to pull a copy of your credit report and check to see where your score stands.

Check your status

Under the Credit Card Accountability Responsibility and Disclosure Act of 2009, or Credit CARD Act, everyone is entitled to one free credit report from each credit bureau every year.

Obtain a copy o…………… continues on Times Herald-Record

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David Seeger of Great Lakes Credit Union talks about the simple steps you can take to improve your credit score. Money Monday on NBC 24 Today, March 2, 2015 For the latest News-Weather-Sports…
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Personal Finance: Beware of credit repair scams

Personal Finance: Beware of credit repair scams
News from Chattanooga Times Free Press:

  • Chris Hopkins

    Photo by Patrick Smith /Chattanooga Times Free Press.

It is hard to overestimate the importance of a good credit score. So if your own credit history is less than pristine, it might be easy to fall under the spell of a so-called credit repair agency, especially one that promises to miraculously restore your standing and quickly erase negative information.

As always, if it sounds too good to be true, walk away. In fact, these companies cannot do anything you cannot do for yourself at zero cost, while some of them make questionable or even fraudulent claims that could actually leave your credit score worse off and your wallet considerably lighter.

Before extending credit, lenders typically consult one of three major reporting agencies to review a borrower’s previous pattern of interaction with other creditors. Obviously it is imperative that this data be accurate since it can weigh heavily in determining whether you get a loan, a job or an apartment. Since it is so critical to maintain an accurate profile, the…………… continues on Chattanooga Times Free Press

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Credit Repair 101 : How To Increase Your Score from a 500 to 800 in 6 months or less
Credit Repair 101 : How To Increase Your Score from a 500 to 800 in 6 months or less

Have you been scammed out of Hundreds of dollars from phony Credit Repair companies? Do end up like most good people with Bad Credit and nowhere to turn. Bad credit can not only affect your interest rate, it can also affect you from getting hired at certain jobs. A job that pertains to money like banks for instants will turn you down without any further explanation. Most of us have had bad to very bad credit at one time or another but some point you’ll have to face the music especially when y

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Personal Finance: Beware of credit repair scams

Personal Finance: Beware of credit repair scams
News from Chattanooga Times Free Press:

  • Chris Hopkins

    Photo by Patrick Smith /Chattanooga Times Free Press.

It is hard to overestimate the importance of a good credit score. So if your own credit history is less than pristine, it might be easy to fall under the spell of a so-called credit repair agency, especially one that promises to miraculously restore your standing and quickly erase negative information.

As always, if it sounds too good to be true, walk away. In fact, these companies cannot do anything you cannot do for yourself at zero cost, while some of them make questionable or even fraudulent claims that could actually leave your credit score worse off and your wallet considerably lighter.

Before extending credit, lenders typically consult one of three major reporting agencies to review a borrower’s previous pattern of interaction with other creditors. Obviously it is imperative that this data be accurate since it can weigh heavily in determining whether you get a loan, a job or an apartment. Since it is so critical to maintain an accurate profile, the Fair…………… continues on Chattanooga Times Free Press

… Read the full article
.


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Do-it-yourself credit report repair
News from Columbus CEO:

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Orland Park Credit Repair https://rrcredit.com/ Credit Repair Service in Orland Park IL, R&R Financial Group. The most effective Credit Repair service availa…

Wednesday’s Personal Finance Stories

Wednesday’s Personal Finance Stories
News from MarketWatch:

By MarketWatch

Don’t miss these top stories:

  • 5 ways to boost your credit score

  • 5 credit blunders to avoid

  • A London vacation for under $ 1,000

  • Travel that keeps the heart and brain healthy

Even a small improvement in your credit score can mean big savings. In today’s Personal Finance pages, learn about common mistakes borrowers make that put their credit scores into a tailspin, and get tips on boosting your score.

Plus, find out how to spend a week in London for less than $ 1,000, and see how…………… continues on MarketWatch

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Credit Sesame Launches iPhone Personal Finance App

Credit Sesame Launches iPhone Personal Finance App
News from Sacramento Bee:

SUNNYVALE, Calif., Dec. 14, 2011 /PRNewswire/ — Today, Credit Sesame (www.creditsesame.com), the fast-growing personal finance website, announced the first-ever iPhone app that gives consumers instant and free access to their credit score and bank level analytics to make smart credit, loan and mortgage decisions. Available for download in the iTunes store, the Credit Sesame app provides consumers with mobile, real-time information about their finances and the financial market so that consumers can make informed and smart credit and loan decisions on-the-go.

It only takes two minutes to sign-up without any paid subscription or monthly fee making it ideal for today’s demanding consumers—who want the info they want, when they…………… continues on Sacramento Bee

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Country cited for improving financial sector
News from BusinessWorld Online Edition:

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 If you do not want to visit that page, you can retu…………… continues on BusinessWorld Online Edition

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