Repair Credit Score

Archive for January, 2010

Question: Credit Score..............?

If your score is affected by inquiries of unknown sources....why? You can't control who checks your credit
I don't get it. So, if you apply for a loan, your credit may go down?......fucked up

Answer: You can use this credit monitoring service to pre-estimate future scores for different scenarios of such payments - credit-report-free.totalh.com

5 Tips to Improve Your Credit Score - Morningstar Video

Question: Should I use our savings to pay off our credit card?

Ok heres a quick breakdown of our Savings and Credit Card Debt.
At the end of this year this what we will have...

Answer: The only reason to pay off a credit card quickly is if you come into the money so' it's not out of pocket or if it's a high interest credit card..What is your monthly credit card payment..Are you just paying minimum or doubling it? If the interest rate is more than 10 percent and your just paying minimum I would pay it off..If it's below 10 percent interest and you have been paying twice or more of the minimum payment I would hold off paying it off and just keep adding more money to your savings account.

How to Improve Your Credit Score

Which Credit Repair Service or Credit Repair company?

The term Credit Repair has been used very loosely. You may have heard of Credit Repair companies or Credit Repair Services that promise to provide you with a completely fresh credit history. These Credit Repair doctors charge hundreds of dollars. However, many of these Credit Repair companies use bad Credit Repair techniques you should watch out for.

Beware of Credit Repair Services and Credit Repair companies that use the following bad credit repair techniques...

New social security number or EIN

Your Credit Report is yours and all you can do is try to clean up some derogatories on your Credit Report. However, some credit repair companies help you get a new social security number or EIN (employer identification number), with which you can start a new credit history. This is illegal and fraudulent. Stay away from this.

Flooding credit bureaus with dispute letters

By law the credit bureaus have only 30 days to investigate your dispute of items on your Credit Report, some Credit Repair Services and credit repair companies will flood credit bureaus with correspondence, sending them so many dispute letters that they have no hope of completing their investigation in time.

Credit bureaus are then forced to remove the disputed information from your Credit Report. Although this method may work in the short run, it will hurt you and your Credit Report in the long run.