Do It Yourself Credit Repair
Credit Secrets is an easy to follow manual that shows you the loop holes and details regarding fixing bad credit, removing negative items that are on your credit report, and adding the elements you want creditors to know about. If you've had late payments, repossession, or even filed bankruptcy, this guide is your ticket to getting your credit report back on track.
You'll learn everything you need to know to repair your own credit, including:
- The Inside Secrets of Credit Repair
- Six Credit Card Secrets Banks Don't Want You to Know
- How to Establish AAA Credit in 30 Days
- What to Do to Stop Collection Agencies in Their Tracks!
- How to Wipe Out Debts WITHOUT Bankruptcy
- Guerrilla Tactics that will Give You a Good Credit Rating
- How to Dispute Credit Report Errors
- Sample Credit Repair Letters
Get on the right track to Credit Repair today.
Credit Report Scores - Computing Then
Your credit report scores are based on factors that appear in your credit reports. Credit report scores are computed based on a model developed by Fair Isaac Corporation and are typically know as FICO scores. They help lenders determine the risk of extending credit to prospective or existing borrowers.
The following general factors are considered:
- Bill payment history -- 35% of your FICO score (Good: on time and for the full amount)
- Debt relative to your credit limit -- 30% of your FICO score (Good: few installment loans, Bad: many debts, maxed out credit cards)
- Length of credit history -- 15% of your FICO score (Best, entire credit history of 7 years shows no negative reports)
- Types of credit -- 10% of your FICO score (Good: mortgage, car loans, Bad: high interest credit card debt)
- New credit -- 10% of your FICO score (Bad: many rejected applications, new accounts, or credit inquiries)
All these factors are considered in computing your credit score.
Your credit report contains personal information, credit payment history, credit inquiries made when applying for credit, collections, as well as public record information from courts such as backruptcies, foreclosures, wage attachments, liens and judgments.
Spending Tips Stores provide lots of spending tips:
- Save 30% only until Thursday.
- Sale ends Sunday at 4 PM.
- You only go around once in life.
- You'll be happy with your purchase.
- You'll look good in this new model.
- Watch their happy faces when you give the very best.
But, unless you have your own spending tips, you'll spend too much. You need to have your own spending tips always on your mind as you shop. Here are some useful tips:
- Spending Tip 1:
Simply ask yourself, "Why am I buying this?" Reflect on your own thoughts. What motivates you into buying this item? Is there a real need for the product or is an advertising slogan going through your mind?
- Spending Tip 2:
Before you buy something, think "Wait a week." Except for food and gas, this really helps. During the next week you can reevaluate your desire for what you thought you couldn't live without. If you still believe you need it, purchase it only when you have enough cash to pay cash or pay off your credit card in the next billing cycle.
- Spending Tip 3:
Look over your budget plans and ask, "Is this in the budget?" Every successful business has a budget. Think of yourself as a business that is trying to make more money than it spends. Sometimes you delay buying something because it's not in the current budget.
- Spending Tip 4:
Consider "Will there be a long term benefit or simply a short term moment of happiness?" A business buys an item because it helps the business to prosper over a period of time. You should see a long term benefit from the purchase for you and your family.
- Spending Tip 5:
Finally, consider "What are both the benefits and disadvantages of buying this item today?" Think about the good things the item will produce in your life. Then think of the less pleasant side effects. Really think about these effects and decide if the item is in your best interests. Consider the benefits and disadvantages from both a short term and long term perspective.
Cleaning Up Your Credit Report
A good score helps you get the best loans. The loan officer will be glad to see you because you will:
- Qualify for a larger loan
- Get a loan faster
- Get the best interest rates.
There are basically three ways to clean up your credit report.
- Dispute You can dispute items on your credit report. This may or may not remove the item from your report.
- Negotiate Arrange with your creditor to pay off the debt in exchange for them requesting the credit bureaus to remove the negative item.
- Pay and Wait Pay off the debt and wait (up to 7 years) for the item to be dropped.
In addition, a bankruptcy can remove negative items, but the bankruptcy can remain on your report for 10 years.
For a Powerful One-Time Upgrade of Your Credit Report
Lexington Law is a Law Firm specializing in credit report repair. They have helped over 80,000 Americans improve their credit scores by removing inaccurate, misleading, or unverifiable information from their credit reports.
"It's amazing what a letter from an attorney can do!"
The Lexington Law Firm is member of the online BBB and offers consumers a performance warrantee. From bankruptcies to charge-offs to tax liens, Lexington Law Firm has challenged virtually every credit problem under the sun and deleted over 600,000 such items to date.
Lexington Law's service is backed by a warranty which entitles you to some or all of your money back if enough disputed items aren’t deleted. Put simply, they don’t believe you should have to pay for ineffective service. "If we can’t deliver, you’ll be reimbursed."
Credit Report Scores - Computing Then
Your credit report scores are based on factors that appear in your credit reports:
- Bill payment history (Good: on time and for the full amount)
- Total outstanding debt (Good: non-mortgage loan payments less than 5% of gross income)
- Types of debt (Good: mortgage, car loans, Bad: high credit card debt)
- Length of credit history (Good: 3 or more years of on time payments)
- Credit inqueries (Bad: many rejected applications)
The Equal Credit Opportunity Act (ECOA) prohibits certain factors from being used in determining your credit report score:
The Equal Credit Opportunity Act provides actions for you to take if suspect unauthorized factors are being used to deny you credit.
If you've found this site useful, please link to it so that others can benefit. Use the following in your link:
| Link text: | Credit Report Scores - See and Improve Them |
| Description: | Credit report scores affect your ability to get a loan, buy a home, and even get a job. Find out how to see and improve your score. |
| Link to: | http://www.credit-report-scores.us |
Back to the main page of Credit Report Scores - See and Improve Them
Removing Old Credit Info
No Turn Down Credit Cards
Creidt Reporting Agencies
Cheap All In One Credit Report
Removing State Tax Lien On Credit Report
Pay Charge Offs
Credit Card Application
Access Credit History
Credit Cards For One Day Online Use
Negotiating With Creditors Credit Or Card Or Debt Or Bankruptcy
Copyright © 2004-2006 Robert Sherman
