Featured Post
By Greg On August 27, 2009No CommentsConfessions of a Credit Repair Agency
By Marc Chase
Credit Repair, a very debated topic on the net right now as to whether it?s legal, effective, ethical and an avenue worth pursuing for individuals with negative, inaccurate or unverifiable information on their credit reports. No matter where you search, you will find varying opinions in regard the legitimacy of the credit repair industry, from The FTC and Attorney General, to Debt consolidation companies and law firms practicing credit repair companies. First off to answer the question is Credit Repair and its practitioner?s legal, the answer is yes! There is a specific body of legislation, The Credit Repair Organizations Act (CROA) that outlines how credit repair companies may legally operate. This Federal regulation is proof that the industry as a whole is legal and not a scam. I think the negative overtones are more likely a case of a few hundred bad apples taking advantage of people.
The second most debated topic in many of the popular credit forums is whether or not one should even use a credit repair company, or give it a go themselves? The Art of Credit Repair or credit restoration is not necessarily a difficult one to grasp and despite what a lot of the Credit repair companies and lawyers would like you to believe, there is no ?magical, proprietary dispute letter?. Remember, the Fair Credit Reporting Act (FCRA) was set up so that consumers could fix errors on their credit reports on their own. It was not set up so consumers could fix errors If they had the magic letter. It really is almost as simple as saying?.
?Hey this is not my account, please verify the information and remove from my report?
So why would you consider hiring a company to improve your credit score if it is so easy? The art of credit repair is not perfectly written letter, but more of knowing the little tricks credit bureaus and collection agents use to avoid eliminating the debt. As much bad press credit repair agencies have received, Bureaus and Collection agencies are no angels either. They try and trick you, they don?t always follow procedure and we?ve seen numerous cases of them breaking promises consumers have made with them when negotiating debt.
Credit Report Repair Agencies should be well versed and know what to expect and exactly how to negotiate through all the little tricks that the average consumer wouldn?t. If you are lucky enough to be working with an ethical Company that does its job and at a good price, it can work wonders for your credit score. The people we spoke with that do favor using an agency to fix their credit, do so because typically it?s only 30.00 to 50.00 per month and they just don?t feel like dealing with the headaches, nor do they want to be their own guinea pigs.
If you do make the decision you would rather leave it to the pros, what steps should you take to make sure you?re hiring the right company? At the time of writing this there is very little governing the industry outside of CROA and it is a craps shoot for the most part.
However, there is hope on the horizon. Currently a non-profit organization is being formed called The National Credit Repair Association (NCRA) This industry organization brings overdue legitimacy and integrity to the credit repair field, and represents all certified credit repair organizations. The idea is that accredited credit repair firms are overseen to ensure they embody top standards and ethics, and adhere to all applicable state and federal laws in their practices. In other words, the ?BBB? of the Credit Repair Industry.We highly recommend that you utilize this service when fully launched as it will force legitimate companies to sign up much like they would the BBB and it will also weed out the unscrupulous credit repair companies who do not wish to adhere to standards. The Credit Repair industry is a legal and much needed industry, but much like any ?new fad? its going to take time to get regulated, weed out the scum and let the professionals rise to the top.
In closing credit repair is something that most Americans will probably have to deal with at some point in their lives. It can be done by you with a little homework, accurate record keeping and patience, or you can hire a firm just as long as you?ve done your homework, insist the company is a member of The NCRA and make sure they are not breaking laws when dealing with your personal credit scores.
Article by http://www.mycreditgroup.com
Article Source: http://EzineArticles.com/?expert=Marc_Chase
http://EzineArticles.com/?Confessions-of-a-Credit-Repair-Agency&id=228206
Refinancing? Weigh risks of debt cons… - msnbc.com
Recent Posts
By Greg On August 24, 2009
No Comments
Good Credit vs. Bad Credit
By Connie Barker
There are millions of people in the world that have poor credit, so first and foremost, realize you are not alone! However, having bad credit is not beneficial to your financial future. I intend on explaining to you the reasoning for this, as well as helping you find the right solution for your credit problems. There is light at the end of the tunnel! There is a way to free yourself and your family from financial burden, read on to find out.
Credit is an ongoing problem in the United States, and to help rectify the situation, several types of debt consolidation companies and law firms have become available. According to Trinity Credit Services, ?The average American with less than perfect credit spends an extra 30-40% per month in higher interest rates.?1 Do you want to be the average American? I would hope not! An alternative resource to using a credit repair agency is a debt relief attorney. Keep in mind, all of the services offered by credit repair agencies and attorneys are steps you can take yourself, if you make the time to do so. The process is simple, however also time consuming. Your first step would be to search online for your credit report. You will discover there are several avenues to take to obtaining a free report covering all three of the major agencies, Equifax, Experian, and TransUnion. Any way you choose to go, here are some questions to keep in mind:
Is the company/firm licensed and bonded?
What is their Better Business Bureau rating?
How long have they been in business?
Can you physically go to their office and arrange a consultation?
Do they charge for a consultation?
Do they use a multi-stage process or the single process of letter writing?
If you choose to use a debt attorney rather than an agency, several options can be located on the internet, just type ?debt repair attorney? in the search box. What you will find is that there are many firms offering the same services, so you will begin to wonder why you should choose one over the other. The previously mentioned food for thought will help you figure out which service best fits your needs. Good credit goes a very long way in today?s economy. Just think about a few reasons you would like to have good credit. Would you feel more financially secure? How about more disciplined with your spending?
Words from the mouth of Steven Covey have stuck with me through the years of credit woes, and through my journey to financial freedom. Covey, author of the book, ?Seven Habits of Highly Effective People,? identifies the first three habits as lessons to improve your self-discipline. Covey emphasizes a change in one?s personal habits as the start of the journey to success. So, I will recommend the same. Sit down with a spreadsheet and map your spending. Plug those values into a budget calculator, and try to cut back in areas that are not necessary. For example, if you?re spending $100 on dry cleaning, become more disciplined in changing and hanging your work clothes when you get home so they can be worn again before needing to be cleaned. Simple tasks like this will begin to save you a good chunk of money before you realize it. When the end of the month comes, and you have only spent $40 on dry cleaning, put the other $60 into a savings account for your children?s college education, or a nice vacation for yourself. You will see the money grow at a rate you cannot even fathom! The three major credit bureaus are:
Equifax:
Experian:
TransUnion:
3-in-1 Report:
Here?s to unleashing the path to your financial success! Good luck!
Connie Barker is the owner of several financial websites including those which deal with Online Credit Reports.
Article Source: http://EzineArticles.com/?expert=Connie_Barker
http://EzineArticles.com/?Good-Credit-vs.-Bad-Credit&id=243020
US NEWS: Debt Consolidation: Debt Con… - Pressmap (Pressemitteilung)
Debt Settlement Proven More Effective… - Best Syndication
Remortgages And Debt Consolidatiion L… - Prfire (press release)
Bad Credit Debt Consolidation - Get O… - Business Exchange
By Greg On August 23, 2009
No Comments
3 Credit Repair Secrets Creditors Don’t Want You to Know
By Freddie Johnson
Believe it or not, there are actually quite a few credit repair secrets that your creditors and the credit reporting agencies do not want you to know about. When you start taking measures to repair your credit, it can cost both the creditors and the reporting agencies a great deal of money.
There are many different credit repair secrets that they do no want you to be familiar with, but the one we want to focus on here is the ability to dispute negative items on your credit report.
You can significantly improve your credit by disputing the negative items that you find on your credit report. Using a letter that is correctly formatted is the way to accomplish this, and when you do so it is always a good idea to keep a copy of the letter you send as well.
You may also want to send along a copy of your credit report so they can see where the problem is as well. The following are a few simple steps that will help you effectively dispute the negative items on your credit report.
Step #1 - Get a Copy of Your Credit Report - The first thing you need to do is to get a copy of your credit report. Once you have your report, make sure you look it over for any mistakes. For every separate listing that is on your report, check out the information to make sure that it is really yours.
At times you may find that a wrong listing will end up on your report, so if you take care of these first, it will probably help to get rid of the other negative items.
Step #2 - List the Items You Want to Dispute - After taking care of wrong listings, then you can start looking at the negative items on your report and make up a list of things that you want to dispute. You should put the most harmful items at the top of your list to be taken care of first.
Then it is time for you to start writing. Each separate item should be addressed in a separate letter, and you should be sure to send the letter to each of the credit reporting agencies. Remember, this is one of the many credit repair secrets because agencies do not want to be disputed, but doing so is legal and will help to repair your credit.
Step #3 - Personalize and Use Strong Language - One of the reasons that these credit repair secrets are so ?hush hush? is because creditors and credit reporting agencies do not want to investigate or get rid of the negative items on your credit reports.
You are going to have to use strong language and a great letter to get through to them. Although they may give you some trouble and tell you that you are not allowed to dispute items, remember that what you are doing is legal and that they are required to investigate the problem. Let them know with your words that you mean business.
It will take a few weeks for everything to get underway, but after they credit reporting agency investigates, then a new credit report should be issued. Make sure that you check out your report to be sure that negative items have been taken away. This is one of the best kept credit repair secrets, but once you learn how to use it, you can effectively repair your credit report.
Learn more credit repair secrets with Freddie Johnson’s free articles on debt relief, debt consolidation, debt management and credit repair tips at http://www.mydebtconsolidationtips.com
Article Source: http://EzineArticles.com/?expert=Freddie_Johnson
http://EzineArticles.com/?3-Credit-Repair-Secrets-Creditors-Dont-Want-You-to-Know&id=546529
How Debt Consolidation Loans Improve … - Best Syndication
US People: Few Useful Tips for Debt C… - Granite Bay View
US NEWS: Debt Consolidation: Debt Con… - Pressmap (Pressemitteilung)
Bad Credit Debt Consolidation - Get O… - Business Exchange
5 Best Reasons For Credit Card Consol… - Pressmap (Pressemitteilung)
By Greg On August 22, 2009
No Comments
How to Choose Your Credit (Debt) Repair Counselor
By Jack Igan
Have you reached the point where your credit card debt is no longer controllable? Do you sleep at night or do you spend the whole night tossing and turning wondering how you are going to pay off your debts and put food on the table for your family? Many families find themselves in similar situations either through ignorance of the credit system, or sickness and ill health, but more often because of loss of a job or income. A frequent cause is an inability to distinguish between needs and wants.
In many cases, debt management or consumer credit counseling may be required and counseling is available. Surprisingly, there are many free counseling services. You can find them through church, civic, and municipal groups. You can even find credit counselors on the Internet who offer services through local offices, and by telephone.
Look for a credit card counselor who offers in-person counseling. Many universities, military bases, credit unions, housing authorities, and branches of the U.S. Cooperative Extension Service have nonprofit credit counseling programs. Nonprofit credit counseling programs can be found at your local bank, credit union, or local consumer protection agency. Additionally, many universities, military bases, credit unions, and housing authorities operate free credit counseling services.
The many benefits of credit card counseling available include debt management classes, advice on managing your money, your rights as a consumer, and budget counseling,
Legitimate no-cost credit repair counseling organizations will give you free literature, educational materials, and workshops designed to help you solve your financial problems. They will work with you to help you develop a personal budget to solve your money problems, and in the worst cases, recommend therapy where appropriate.
Credit problems happen to the majority of people who need and use credit. It’s the nature of the beast (no pun intended). Consumer credit card counseling is a great tool to have working for you and it should not be a cause for shame or embarrassment. Your goal is to get yourself debt free without borrowing any more money. Your job is to find a credit card counseling service and, as mentioned earlier, many are free.
But there is a caution here: you’ll find many “non profit” credit repair counseling services but the term non-profit does not necessarily guarantee free, or even affordable. You can find yourself paying some hefty fees or making sizeable “contributions” for their services.
Remember, you are looking for a free service. You should not be asked to pay for any of the information provided. Don’t buy any credit management books or credit management courses. All of these things, if available, should be provided to you free of charge. If anyone asks you for a fee, it is not free and you should go elsewhere.
Look for counselors who are certified in consumer credit repair, budget counseling, and money and debt management. A legitimate organization should have credit counselors who will discuss your entire financial situation and not just present a credit management plan - kind of like a “treating the whole man” approach.
A legitimate credit counseling agency should provide you with their historical and organizational data without requiring you to provide any personal details. If there will be any charges, make sure you know what they will be going in.
One big problem you should know about that has been exacerbated by the Internet is identity theft. Identity thieves are not as interested in acquiring your persona as they are in acquiring your line of credit. Once they have your personal information they will probably open one or more new credit card accounts. First, notify your credit card companies of any irregularities in your accounts. Then, get in touch with your credit card counselor who can advise your best course of action, but you must act quickly.
This article was written by Jack Igan, a contributing editor and publisher at loans and credit for the credit and debt counseling services website at http://www.bestcreditscoring.com
Article Source: http://EzineArticles.com/?expert=Jack_Igan
http://EzineArticles.com/?How-to-Choose-Your-Credit-(Debt)-Repair-Counselor&id=371131
School Specialty Reports Fiscal 2010 First Quarter Results - MSN Money
* Free cash flow improved 44 percent, despite 13 percent decline in revenue and operating income * Reading and math technology company AutoSkill acquired * Definitive agreement signed to sell School Specialty Publishing * Initiating fiscal 2010
In a New SmallCapVoice.com Interview, Joe Noel of BioElectronics Corp - PR Inside
SmallCapVoice.com, Inc. announced today that a new audio interview featuring, BioElectronics Corp. (Other OTC: BIEL.PK : ), the maker of inexpensive, disposable drug-free anti-inflammatory devices is now available. In the interview, Joe Noel of
Buy now, pay later? It’s later. - Reuters Blogs
Buy now, pay later was the mantra of U.S. consumers during a debt-fueled binge earlier this decade. Banc of America Securities-Merrill Lynch economists think getting U.S. household debt-to-income back to the long-term trend will require eliminating
