|
|
Many Americans have been hurt by the recession; Unemployment, underemployment, foreclosures and bankruptcies have left a trail of bad debt and wrecked credit scores. Now that the economy is showing signs of recovery they are looking to repair their damaged credit and put their lives back on track.
|
Introduction
Have you ever been denied credit or had to pay high interest for a car loan, credit card or home loan, most likely the reason is the poor state of your FICO score. Nothing can hurt you financially like having bad credit, on the other hand good credit and a higher FICO Score can make life so much easier MORE
Have you ever been denied credit or had to pay high interest for a car loan, credit card or home loan, most likely the reason is the poor state of your FICO score. Nothing can hurt you financially like having bad credit, on the other hand good credit and a higher FICO Score can make life so much easier MORE
the steps to repairing your credit
|
Why You Are denied Credit
When prospective lenders inquire about your credit standing, they examine your record with certain expectations. To evaluate your own report, you need to know those expectations. The five most common reasons for denial based on a credit report are.. MORE Most credit reports consist of six basic categories:
• Creditors and Lenders • History of Account • Comments, Remarks, Details • Status(opened,closed & current) • Public Records • Inquiries. MORE Dealing With Your Creditors
Often you will run across negative remarks that cannot be deleted without creditor cooperation.....Here are some different tactics to attempt to persuade the creditor to remove the damaging remarks completely. MORE Collection Agencies: Know their strategies and how to deal with them. Collection agencies are independent companies contracted by creditors to collect on unpaid bills; this can be anything from debt due on credit cards, store credit to unpaid rent. MORE Rebuilding your credit: You can pay a Credit Counsellor a lot of money to help repair and rebuild your credit but this is something you can easily do yourself with a little patience and perseverance. Educate yourself with free advice available here and by following these simple steps. MORE Medical vs. Non-Medical Debt
There’s been a recent study released by the Consumer Financial Protection Bureau’s (CFPB) Office of Research about how medical debt collections are reflected on the credit records that nationwide credit agencies maintain. MORE 
|
 |
