Free Annual Credit Report Tips

From the archives of the Repair That Credit collection. Visit RepairThatCredit.com to find out how YOU can clear your credit file, and get the credit you deserve!

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Did you know a review of your free annual credit report can save you thousands upon thousands of dollars? That is a staggering thought in itself; don't you agree? But there is something worse; that can be happening to you. Your personal reputation and good credit could be ruined forever. You can lose your personal reputation and thousands of dollars if you don't know someone stole your identity. The following tips will help to keep this from happening to you.

Identity theft has become an illegal enterprise which has profited the thieves to hundreds and hundreds of millions of dollars a year. One of the main reasons it has become so profitable is that people, just like you, have no idea their identity has been stolen. The first way you may find out about it is when the following scenario’s or something similar happen to you.

One evening you and your family are setting in the family room watching a little TV and relaxing. Suddenly you get a phone call from a mortgage company, which you know nothing about, wanting 90 days of back mortgage payments. As you’re standing there in confusion and disbelief this guy is telling you, if you don't pay, legal action will be taken.

If not that scenario, then perhaps you get a credit card bill for a credit card you have never seen. You open the bill and there is $5000.00 worth of charges for electronics charged against your name. It also shows you are more than 60 days delinquent in payments. It is mind numbing and debasing to you and your family. Your first thoughts are how could this happen?

Chances are if this happens to you it is because your personal identity has been stolen. This thief has used your social security number, your driver’s license number, date of birth and other personal information to get approved for the credit card or loan. The many ways this can be done are beyond the scope of this article. However, there is a way you could have been alerted much sooner and perhaps shut it down before all the damage was done.

In July of 2005, the Federal Government of the United States, passed legislation that gave every citizen in the United States, including you, to be able to get a copy of their free annual credit report. All you have to do is go on-line, write or call and request a free copy from the following 3 major credit reporting agencies:

1. Equifax: http://www.equifax.com/home/  Phone:  1-800-525-6285
2. Experian: http://www.experian.com/   Phone: 1-888-397-3742
3. TransUnion: http://www.transunion.com/ Phone: 1-800-680-7289

Not only can you get your free copy of your credit report, each of these credit reporting agencies, have other programs which can help you. In case of Identity theft they have free information on how to repair your credit report. They offer 24 hour monitoring of your credit report. In addition they provide other programs which can help keep your credit rating safe.

For instance you can put a freeze on your credit report. This prevents anyone from checking your credit without your express approval. However, just for your information a freeze can also slow down the process when you apply for new credit.

As you can see, by learning about your free annual credit report, you have other services from the Big 3 which can help protect you. If you suspect fraud, identity theft and are suddenly getting approved for credit cards and other loans; it's time to grab your free annual credit report.

From the archives of the Repair That Credit collection. Visit RepairThatCredit.com to find out how YOU can clear your credit file, and get the credit you deserve!

  

Debt Consolidation Loans and Bad Credit - The Truth

From the archives of the Repair That Credit collection. Visit RepairThatCredit.com to find out how YOU can clear your credit file, and get the credit you deserve!

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Debt consolidation loans bad credit is the cry heard more and more in today’s financial news? Have you become one of those borrowers who have found it extremely difficult to consolidate your outstanding debt because of bad credit? If you are the information contained here will give you a light at the end of the tunnel.

You like so many others in today’s world of instant gratification many have fallen into the biggest nightmare of all. Your credit was so good, 5 or more credit card companies’ extened more than $50, 000 in credit lines to you. Before you knew it you had maxed the cards out and borrowed on the equity of your home to try and pay them off.

When that didn't work you fell behind on all your bills including your house note. Within six months you had gone from a credit score of 725 to a low of 595. Which means you will now have difficulty getting any type of loan because of bad credit.

However, this doesn't mean all hope is lost. It means you are going to have work a little harder to find companies that will help you reorganize your debt. This is the only way you will be able to get debt relief and start rebuilding your credit.

There are financial organizations which specialize in debt consolidation loans bad credit applications. However, there are some drawbacks to working with these companies. Because of your bad credit history you are considered to be in a high risk category for payback of the loan or loans.

Many of these companies will take the risk of loaning you the money, but you are going to pay out the nose for the interest. On top of the interest you may have an upfront application fee, plus other fees buried in the fine print of the loan. The end result being you will end up paying back more money, to these lenders, than what you would have paying back your debts originally.

You need to understand not all of these companies are out to rip you off. Many of them are perfectly legitimate financial institutions which work with folks like you; with a history of bad credit.

When working with a good company, you may have to agree to pay a higher rate, but one that is much lower than the rates being charged by the credit card companies. In addition some these better companies will require you to undergo financial counseling. The purpose of this being to get you the necessary tools you need to keep from getting into trouble again with your credit.

These good companies want you to succeed in your plan to reorganize your debt. They will do everything they can to help you get your finances squared away. As you continue to work with them over a period of time you will see your credit score start to come back up.

You can recover from the strangle hold that bad credit and mind numbing debt have on you. It means you will have to work hander to find a debt consolidation loans bad credit company to work with you. However, if it puts you on the road to debt recovery and a positive credit history it will be worth all the extra work and cost.

From the archives of the Repair That Credit collection. Visit RepairThatCredit.com to find out how YOU can clear your credit file, and get the credit you deserve!

How To Profit With Your Business Credit Report

From the archives of the Repair That Credit collection. Visit RepairThatCredit.com to find out how YOU can clear your credit file, and get the credit you deserve!

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As a small business person one of the most important assets you have is your Business Credit Report? Along with your own personal character and a good credit report you can just about name your own ticket in your local community. Furthermore it can help you expand you business to the far reaches of the world. This article will give you some ideas of how important your credit report is to your profit.

As an astute business person you know you have to have to contact new customers. In a lot of cases when you do the new customers want to know how reliable you are. Not only will they be looking for personal references but they want to know you are sound financially.

They may ask you to furnish credit references and other information about you and your company. Many times these new customers will use your business and personal credit report, to verify your financial stability and personal character. By chance, if you happen to have reports of outstanding debt, which has been unpaid or public judgments for failure to finish projects, your chances of landing this new customer or slim next to none.

Not only can the above circumstances affect your ability to grow your business, it may prevent you from obtaining proper business insurance. In many cases you may have to a large umbrella policy for liability, before you can bid on certain jobs or actually perform the job function. In today’s modern society you and your company can be sued for any and everything.

Without a proper credit rating, as reflected by your business or personal credit report, you may be refused insurance all together. If you are insured you may be considered a higher risk and end up having to pay an outrages premium. Whereas with a good business credit report the insurance companies may look very favorably upon giving you a large discount off the premium.

One of the most lucrative forms of business for a small business is government contracts. Once again your personal and business report will be verified. This becomes especially important if your company and you are required to have a security clearance in order just to bid on the project. A reflection of bad credit on your credit report can stop a security clearance or other government contracts dead in the water.

However, with your outstanding credit and personal character, because you are a small business owner you can have a leg up on the larger companies. The reason for this is the Federal government; of the United States has special preference programs for the small business owners. This means you may be able to add another stream of income to your bottom line. Once again you can see how your credit report can help make you profit.

Here is a little tip that can help you keep your business credit report looking good and help your cash flow at the same time. Most companies, when they extend credit, will give favorable repayment terms to your small business, provided your credit worthy. If the term is Invoice Net 10 days, most companies will not report you as long as you get the invoice paid before 30 days are up.

If you are in a cash flow crunch, have your bookkeeper set up to pay the invoice before the 30th of the month. Make sure the bookkeeper allows enough time for the mail. This tip should only be used discreetly and infrequently. Otherwise you will get a reputation of using your vendors to finance your business operations for 30 days.

There is a drawback to this kind of credit repayment. Many of your vendors now will start calculating a late fee and interest payments as soon as the 10 days is up. So instead of enhancing your cash flow it can further deplete it.

You as an ethical business person have the responsibility of keeping your debts paid and on time. When you do this you have seen how your business credit report can be a profit center for you.

From the archives of the Repair That Credit collection. Visit RepairThatCredit.com to find out how YOU can clear your credit file, and get the credit you deserve!

Secrets About Debt Negotiating, Part 1

From the archives of the Repair That Credit collection. Visit RepairThatCredit.com to find out how YOU can clear your credit file, and get the credit you deserve!

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You’re sitting at dinner with your family and the telephone rings. It's a bill collector and they are demanding you pay them right now. Today! Tonight! Guess What? You don't have to do that. You have the right to what is called debt negotiating.

Very simply put this means when you are in financial trouble and can't pay your bills, you have the right to negotiate with your lenders, regardless of who they are. In addition, if the bill has been turned over to a collection agency, you can bargain with them also. However, this may not be quite as easy as it sounds.

Don't let this information scare you, use it to your advantage when you are talking with debt collectors. You are going to be dealing with someone who knows what they can say and how they can say it, when collecting a debt. This means it's critical for you to know your rights before starting the discussion.

One of the fastest ways for you to learn your rights is to go on-line to the Federal Trade Commission site. This official U.S. Government on-line brochure can be printed out so you will have it at your disposal day or night. You will find this brochure on-line at http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre18.shtm.

In addition many of the individual states have their own laws about debt collection. A quick check on-line with your states official site will fill you in on your rights and the bill collector’s rights. In addition there are other ways to protect your self.

Did you know that in 35 states in America, plus Washington, D.C., you can secretly record phone conversations? In the 15 other states, you can record a telephone conversation provided you advise the other person you are doing so.

You should check with your states Attorney General, on-line, to make sure where your state stands on this issue. Any time you are involved in debt negotiating, with a lender or collector, always try to have a tape recorder hooked up.

It's a tool which works like magic, during a negotiation. You would be surprised how calm and helpful lenders and debt collectors become when they are being recorded. However, you need to bear in mind that a recording can work both ways. Be sure to make only statements and commitments you can keep.

You do not have to let them bully you into making financial commitments you can't keep. Even though they insist you do it their way, make no mistake, you have the right to discuss the debt in full. Rationally and calmly! Determine what you can pay and then offer less than the amount. This way it gives you additional bargaining power, as the collector is going to try and bump the amount. Never go over the amount you can pay.

Remember one of the reasons you are in this 'debtor’s hell' is you overextended yourself. Trying to pay back more than you can will only dig the hole that much deeper.

This is only the first installment in a two part series of on “Secrets About Debt Negotiating And Protecting Your Rights”. Be sure and read Part 2 of this article.


 From the archives of the Repair That Credit collection. Visit RepairThatCredit.com to find out how YOU can clear your credit file, and get the credit you deserve!

Secrets About Debt Negotiating, Part 2

From the archives of the Repair That Credit collection. Visit RepairThatCredit.com to find out how YOU can clear your credit file, and get the credit you deserve!

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First let's get a brief review of Part 1 and then move into Part 2 of "Secrets About Debt Negotiating And Protecting Your Rights".

If you are in financial trouble in the United States and other countries you have the right to debt negotiating. In other words you can bargain with your lenders to try and get better terms to pay off your debt.

You are going to need to be prepared when you start this process. The people you are going to be talking to are professionals and they know precisely what to say and how they can say it. Therefore it is imperative for you to know your rights also.

There are basically three ways to learn what your rights are.

1.    Visit the FTC (Federal Trade Commission) website http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre18.shtm
2.    Visit your states official web site and find your rights in your particular state. Normally you will find this in the State Attorney General part of the site.
3.    Seek advice from a qualified debt attorney. And hire him to do the negotiations for you.

The third choice can get expensive very quickly. Here are some additional tips you can rely on if you want to do your own debt negotiating.

•    Keep records
•    You should keep a journal or at least a note pad of every time you have contact with a lender.  Do it when they call you and you call them. You should note the following in your journal:

o    Date and Time
o    Name of collection agency
o    First and Last name of who you talked to
o    Notes on what was said

If by chance you and your lender reach a debt repayment plan, it is imperative to get it in writing. Do not make a payment until you have the agreement in writing. However, remember when you get it in writing it is a double edged sword. It can work for you and it can work against you.

There are two ways for you to do that. You can request the debt collector to mail you a letter confirming the agreement exactly the way it was discussed on the phone. Make sure that it is on their company letter head and signed by an officer of the company or someone else with legal authority to sign the letter.

Actually the best way to get it in writing is for you to draft a letter to the lender, laying out the terms as you understand them. Be sure and send this letter by certified mail, return receipt requested. This gives you the proof you need to show you have acted in good faith.

One thing you may not really understand is that the collection company and their representative can not rush you into making an agreement and payment. No matter what they say are how hard they “brow beat” you don't make any payment until you have it in writing and signed by an official John Hancock.

If you will notice in the above paragraph we mention a debt collector using "brow beating" tactics to rush you. Listen and listen good folks! You are protected under the  Federal Consumer Protection Act and more than likely your own state has a very similar protection for you from those tactics.

The following is just a few of the things a debt collector cannot do:

•    No harassment
•    Abuse you (verbally or in writing)
•    No cussing or indecent language
•    No phone calls on a consistent basis
•    Cannot contact your employer (when you notify the collection company you employer is prejudiced against these calls)
•    Plus many more (which are beyond the scope of this article)

Are you aware that if the collection agency infringes on your rights you have the legal right to report them to state and federal authorities. You can even sue them and collect damages in some cases.

You have the right to do debt negotiating in good faith. You should know what you can do and not do. Be prepared!

Oh yeah! Don't forget about the tape recorder I told you about in Part 1of Secrets About Debt Negotiating And Protecting Your Rights.

From the archives of the Repair That Credit collection. Visit RepairThatCredit.com to find out how YOU can clear your credit file, and get the credit you deserve!

Do you need credit and debt counselling?

From the archives of the Repair That Credit collection. Visit RepairThatCredit.com to find out how YOU can clear your credit file, and get the credit you deserve!

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Why are you drowning in financial debt? You realize there is help out there just for you? However, when you seek out credit and debt counseling it's important for you to be prepared to put a plan in place. These services are professionals and will need your cooperation.

The tips in this article will help you to understand what they can do for you.

These companies were set up for the purpose of helping consumers with their debts. They will actually become a co-worker with you in getting your financial situation under control. The folks that do this work have been around the block a few times and know what to do for you regardless of your circumstances.

If you have made the mistake of getting a large amount of debt and you were just starting out, they can help you. However, if your financial situation is completely out of hand they have the expertise to guide you.

Every single person’s debt problems are different. But your debt and credit counselors’ goal is to design a frontal attack which will fit your personal needs.

One of the first steps they will take in planning your attack on your debt is determine how you're spending your income. Once you know where you are blowing your money you will be able to correct the problem. A good example of this would be eating out every night of the week.

When you step back and realize it's costing you an average of $15.00 plus per evening meal, per person and higher depending where you live, its mind boggling. It can put a big hole in your wallet quickly. In turn if you cut back to only twice a week, you will have cash left in your wallet at the end of the week.

This example above is just one sample of what credit and debt counseling can do for you. They will divulge things to you which you didn't realize were draining your cash.

Furthermore another purpose of this type of financial counseling is to help stop you from getting into trouble again the future. If you like so many other folks you just don't know how to manage your bills. Your financial councilor will set up a system that you will be able to follow. However, it won't work if you don't commit to stick to it.

Your next question might be "Well where can I find somebody like this to help me?" Frankly, there are thousands upon thousands of these companies out there. But if you can find a reputable one, locally in your own city, it may benefit you more.

There is a good chance one of your friends or relatives may know of a service. You can also check the yellow pages of your local phone company and the surrounding areas. Oh yes! Don't forget the internet.

Here’s the thing if you think you are in financial trouble, the chances are you are. The main key to getting control of it is for you to get help before it gets worse. The fact is if you don't get help, it's going to get worse each day.

One way to get control is to call a credit and debt counseling company today.

From the archives of the Repair That Credit collection. Visit RepairThatCredit.com to find out how YOU can clear your credit file, and get the credit you deserve!

Are You Sure You Want A Debt Consolidation Loan?

From the archives of the Repair That Credit collection. Visit RepairThatCredit.com to find out how YOU can clear your credit file, and get the credit you deserve!

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Do you have more than $10,000 in unsecured credit card debt? Perhaps you also have more than $ 30,000 to $50,000 in secured debt such as cars, boats, recreational vehicle to name just a few. On top of that you have your mortgage payment and student loans. Are you thinking its time to do a debt consolidation loan?  This article will give you some ideas which may help you make your decision.

One of the most stressful events in your life and your families life is finding yourself buried in debt. Recent studies have shown that more than 60% of divorces, filed are caused by a crippling debt situation. In many of the cases the stress has led to domestic violence or worse.

Because of these financial problems many marriage councilors are referring their clients to professional financial consolidation councilors. Hopefully, for doing so those couples will have a cooling off period before the final decision is made on a divorce.

One of the things a professional debt councilor will do is compile a complete analysis on every bit of your financial obligations. Your responsibility will be to ensure you provide them with every single detail about the money you owe. There is a good chance they will even want a complete break down of every penny you spend and where.

Don't be surprised when your councilor keeps digging and digging until they have every scrape of information they can drag from you. Once your debt loan consolidation councilor has it, they will then do a calculation of the total debt with interest. Finally they will compare what your total repayment will be; verses a consolidation loan of all the money you owe.

In certain cases after the full evaluation of your debt problems your advisor may determine that a consolidation loan won’t do you any good. This involves taking into consideration your ability to repay all your indebtedness, plus the accumulated interest.

This being the case your councilor may well recommend bankruptcy in lieu of loan consolidation.

However, in the event they feel you are candidates for a complete consolidation, of your cash obligations, this is when the real work starts. Either you or your councilor will contact all of your debtors to determine what the pay off amount will be and the date it is good until. By doing this you will know to the penny how much of a loan you will need.

A special note should be made here. You should not be surprised if the credit card companies will offer to lower your interest rate. It’s much better for them if you don’t repay the bill in full. It also will give you a bit of an opportunity, to be able to keep the credit card, at a much lower interest rate.

If you should decide to work with the credit card companies, in lieu of consolidating your money problems, you need to do your due diligence. Make certain you have the deal they offer you in writing and you know precisely what it means. If not you could be in worse trouble than when you started.

As you can see there is much to be considered before you make the final decision about how you are going to solve your current money obligations. A debt loan consolidation may take care of it now, but what happens down the road if you haven’t learned how to control your debt responsibly.

From the archives of the Repair That Credit collection. Visit RepairThatCredit.com to find out how YOU can clear your credit file, and get the credit you deserve!