Legal Jobs Guide

Repairing your credit is something that is very “easy” to do . NOT!!! There are tons of sites online telling you that you should repair your own credit but what they leave out is one simple truth. It is tedious and you are normally going to receive a letter from the credit bureau telling you that the info is correct. Take it from me, I did this for about six months before I realized they did give a d@mn whether the info was correct or not. I wasted countless hours writing and researching until the realization finally set in that the only thing I was doing was going in circles.

The fact of the matter was that there are companies (legal & legitimate) that were able to get more accomplished than I could. Try this, go to a hospital, tell them you are a doctor and ask to be prepped operate on someone. See how far the personnel will allow you to go before calling security. Credit repair works the same way. In order to make any headway, you have to know what you are doing and HOW to do it. You wouldn’t ask the person at the local drive-thru to give you your annual check-up or perform some high-risk surgery on you would you? While you “CAN” repair your credit the fact of the matter is that your probably will take MUCH longer than someone who is skilled in this undertaking.

If you go to any of the “BIG 3″ credit bureaus websites you will note that each has a section on avoiding credit repair agencies. They say that everything that these companies offer can be done on your own but what they don’t say is that they respond to these companies (positively) where you would be lucky just to word the letters correctly so that they’ll “actually investigate” your file. You can improve your credit fairly quickly (3-8 months) but you will need people that are skilled, legitimate, legal, and affordable in your corner. Watch out for all of the “too good to be true” repair scams, and there are tons of them out there.

Do you honestly think the bureaus want to do the work necessary to investigate your file? Take it from me, I repaired my credit within 8 months (560 to 705 and still rising) and didn’t know everything that I know now. Learn from my mistakes and start now.

http://www.nocreditnolife.com/
Email: info@nocreditnolife.com

Written by Mark Redd contributing writer at http://www.nocreditnolife.blogspot.com

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Very often, consumers who are beginning to flounder financially and need help, have reached out to professional credit counselors for assistance in straightening out their finances and for help in improving their personal credit scores. There are also free consumer credit counseling services that may better suit your circumstances.

Interest rates on financed loans and credit card debt can become onerous and when you add in penalties and late fees, some people find themselves against the wall. Making minimum payments can get you deeper into debt and the only way to get the help you need is to seek out a reputable consumer credit counselor. They find themselves asking for help because they did not fully understand the system. An experienced consumer credit advisor can save you money and reduce your debt.

I am not going to make excuses for anyone getting into debt over his or her head, but I think it is fair to say that it would be practically impossible for anyone to compete in today’s arena without the aid of a credit card. And that’s where most folks get into trouble. Credit cards make it extremely easy for anyone to be an instant “big spender”. Once you have your credit card, or line of credit with a bank, as long as you stay within your credit limit you can easily shop for big ticket items that you would otherwise have to pay for in cash.

You start out buying something small; maybe shoes or clothing, a couple of books, and the week’s groceries. When you get the bill at the end of the month it is a couple hundred dollars. Hmm. But wait, what’s that at the bottom of the statement? I only have to pay a minimum payment of $15.00? Not the $200.00 or $300.00 total? Boy, what a deal! I got my new clothes and fed the family for only $15.00. Wow! So you try it again; and the next month. Pretty soon you are up to a thousand dollars or more and you are only paying the minimum.

You saw that you only had to pay the minimum payment each month, but did you notice that you are now paying about 19.5% interest on the money your borrowed? A single credit card can charge an APR (annual percentage rate) of 15% to 20% on your unpaid balance. Did you take a look at the late fees? You can find them in the small print on the back of the statement. Try $25.00 to $40.00 for a late payment and possibly additional interest on your balance. If you don’t take a hatchet to your credit card at this point, it could be all downhill from here. And it just seems to gets worse, never better.

If you do find yourself in a predicament like this you need professional help then you should really think of seeing a credit counselor or credit counseling service. Of course you can contact your creditors and try to work out some settlement to ease the burden of high monthly payments and fees. It is quite possible that you will be successful, for a time, but they will never let you off the hook. Usually, you can expect lower payment at higher interest rates and no relief from your debt. With lower payments and higher rates all around, you will never pay it off.

Borrowing more money to pay off your existing debt is a possibility and may also help with lower payments at a reduced interest rate. Depending on the amount it may require borrowing against equity such as your home. A credit counselor can offer you a range of plans and options to help you make the proper decision that is best for you.

A good credit counselor will know the ropes and have a few tips or tricks you would never know about that could enable him to not only negotiate reduced monthly payments and interest rates, but also reduce or have forgiven, a portion of your total debt.

Two areas where your professional credit counselor or counseling service can help you the most are in personal credit risk management and credit solutions to your particular problem. Once you have made your decision they will work with you and your creditor(s) to lower your interest rate, to reduce the amount of your total payments, and help strengthen your resolve to staying on a straight and narrow credit path.

That is the good news. But the bad news is that you could no longer have a line of credit and the settlement will be recorded on your personal credit history. You will have a devil of a time borrowing any more money. This is one of the advantages of having a professional credit counselor. He may be able to not only negotiate a better deal with your creditor(s); he may also be able to minimize the way the newly structured settlement is recorded so that your credit rating will not be severely impacted. He will also work with you to help you to improve your credit rating.

If at any time, you find yourself falling behind in your credit payments and feel that your repayment schedule is dictating your every action and is making a sea change in your lifestyle you should definitely make plans to visit a professional credit counseling service. They will know best how to advise you and how to get you back on the right track. They have a range of solutions and options that can help to lift you up out of the credit hole you have dug for yourself.

Take heart. There is an option that will fit your circumstance, too.

Jack Igan is a part-time writer and webmaster at http://www.bestcreditscoring.com. This website can help you to get better credit and to straighten out an already shaky credit report.

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When a person suffers from a bad credit history, you become a victim to heartless scammers who will offer credit repair services. They might say that they will clean up your credit files for a fee, and eliminate your poor credit history; but they are breaking the law.

It doesn’t seem fair. Scams like these hurt people who need the help most. Scammers only want your money and they don’t care who they hurt in the process.

That’s why we compile free information like this on our website FindHow2.com, to help others pull themselves up out of the cycle of painful debt and poor credit. It can be done! It takes time, effort, and followup. But by falling victim to illegal credit repair scams, you might make your financial situation even worse!

Credit repair scams can usually be uncovered if you hear anything resembling the following false promises:

(1) you are advised to invent a “new” credit identity so as to obtain a new credit report for future borrowing purposes, by getting a business employer identification number (EIN) that will hide your own bad credit attached to your Social Security number.
(2) you are not informed as to your legal rights or the things that you can do by yourself at no cost at all.
(3) those companies that ask to be paid for credit repair services before any service is done at all.
(4) you are advised not to contact a credit reporting company directly.

If you think having bad credit is a hassle, you ain’t seen nothing yet! You’re tempting the Furies by following any such advice.

Actually, you might even be prosecuted for mail or wire fraud if you use the mail or the telephone following such a scam, to apply for credit and provide false information. That’s because it’s a federal crime to lie on a loan or credit application. It’s a lie to misrepresent your Social Security number. And it’s a crime to get an Employer Identification Number from the Internal Revenue Service under false pretenses (i.e., to hide your bad credit from lenders, instead of starting a real small business or starting a corporation that would need such an ID number for its tax returns).

And as to asking for payment for credit repair services BEFORE the services are completed, now that’s a clearly worded violation of the Credit Repair Organizations Act, and you need to stay clear of lawbreakers, in my opinion.

Don’t let anyone mislead you: accurate negative information will stay on your credit report, so if harmful information on your report is keeping you from a loan, you’ll need to work hard to overcome this. You can’t simply try to eliminate the truth from your report.

As we’ve written all through our web sites and blogs, there is plenty of legal options available. You have the right to ask for an investigation of the information appearing in your file that you dispute as inaccurate or incomplete. You will not be charged for this if you follow simple, easy to complete steps. There is no need for you to pay a dime to a credit repair clinic to fix your credit report. You can do everything they can do, and since you’ll have a vested interest in getting the work done right as soon as possible, I’d bet you’ll do a better job than a complete stranger.

Steve Johnson offers free advice to help people fix their own credit report at http://www.findhow2.com/repair-credit.html. He can be contacted via email at fixyourcreditreport@gmail.com.

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