Bad Credit Blog

Our site is dedicated to helping you improve your credit, in other words to get the credit you deserve. We have been there ourselves, in fact I went through a personal bankruptcy in 1990 so I know the pain.

If your credit is damaged and your credit score is low you will have trouble either getting credit or getting credit at a good interest rate. If that is your trouble then cheer up; we have good news for you! There are some steps you can take to fix the problem.

This is not a magic bullet or a general fix-all but if you follow our steps you can get your credit back on track. The first thing I have to say is this will take some time. Oh, don’t look so sad. If you took your car to a body shop because it had been totaled and they told you they could fix it overnight, you wouldn’t believe them. This is exactly the same. Some of you have credit that looks pretty bad. It can be fixed but it will take time. So chin up, let’s get started! Ready?

1.    Get a copy of your credit report (all three). You can’t fix it if you don’t know what is wrong.

2.    Go through those reports (yes, all three) and verify that the information is correct. The credit agencies themselves tell us that approximately 80% of these reports contain errors. It’s probably higher.

3.    Any thing that is incorrect or outdated can be legally removed. Be prepared to show proof that something is wrong. They are not just going to take your word for it.

4.    Report anything that you can prove is wrong or outdated to the credit agencies with copies of your proof and a NICE letter asking this to be removed. Don’t be rude and insulting or your letter will go into the trash, guaranteed. The agency has to verify the proof before it can be removed.

5.    Be prepared to wait because it takes time. If you are denied removal or the item(s) are too many or outdated (like a bankruptcy that is 15 years old) you will need to get a professional to do it for you. Lexington Law only does credit repair and they have been doing it since 1991. A friend of mine worked for six months to get some items removed and failed. Lexington Law got it done in about 60 days.

Contact them and they will get it done. We investigated lots of credit repair companies and found them to be the best and at a rate that anyone can afford. In fact you can’t afford not to hire the best if you want results and you do, that’s why you are reading this article.

6.    If you have any accounts that are past due, get current - and stay current. In fact, if possible get ahead on what’s due. Nothing shows a creditor that you mean business like paying ahead.

7.    Stop using your credit cards. I know that may be hard but put them away and don’t use them.

8.    Don’t apply for any new credit cards. When I was in college I had more than a dozen credit cards and thought that was cool - it’s not, it’s stupid! Applying for additional credit cards will lower your credit score not improve it. REMEMBER your goal is to raise your credit score.

9.    Keep accounts with balances open. You may be tempted to close out credit cards that are delinquent. Before you do that be sure this won’t negatively impact your credit score - it probably will! Another part of your credit score is based on “longevity”. So if you cancel any cards get rid of the newest.

10.                  The next thing to look at is your debt to credit ratio. You NEVER want to be maxed out on a credit card, in fact for maximum credit scoring you should keep your amount owed to approximately 25 - 30% of your credit limit. I know that may not always be easy but THAT MUST BE YOUR GOAL to raise your credit score.

11.                  Pay your debts off completely. This should be your ultimate goal. When you start paying your debts off your credit score will respond accordingly. Your outstanding debt makes up 30% of your total credit score. Lower your debt and your score will respond accordingly.

12.                  Finally, if you are a person who messed up a long time ago and want to get reestablished we have good news! You can do it! And we can show you how.

If you need a credit card (it’s nearly impossible to function without one) we can help by pointing you to companies who specialize in bad credit - credit cards.

If you need a car loan either because of bad credit or no credit we can help. The very best way is to be pre-approved for that car loan. We have companies that will pre-approve you and all you have to do is take the check to the dealer and drive out with the car of your dreams. Sound too good to be true? It isn’t! Check them out! You will be glad you did we guarantee it!

Finally, (I know this is a different subject but it is dear to my heart) if you know someone who is struggling to quit smoking, please let me refer you to a site that offers real help. Quitting smoking is the best gifts you can give yourself and your family. You can do it!

For some good Christian short stories and inspirational articles may I suggest this site! It’s great!!

Please visit our site for a complete list of helps available!

Do you have debt that is bogging you down and keeping you from reaching your financial goals? Using credit and debt can be a powerful tool that allows you to buy a home, a vehicle, send children to college, and even provide leverage for other purchases. But when you accumulate too much debt , it can pose a serious problem that affects other areas of your finances.

Here are some key warning signs that could mean that you’re in too much debt. While nobody wants to admit they are in debt, you can overcome it. The sooner you recognize there is a problem and begin to make changes, the better off you’re going to be. Don’t delay and put your other financial goals in jeopardy. Find out today whether or not you’re in over your head. Here are a series of statements to compare to your situation. If any of these apply to you, it is time to stop and take action to remedy the problem.

10 Warning Signs Of Too Much Debt

1. You don’t have any savings.
2. You only make the minimum payment on your credit cards each month.
3. You continue to make more purchases on your credit cards while trying to pay it off.
4. You have at least one credit card that is near, at, or over the credit limit.
5. You are occasionally late in making payments on bills, credit cards, or other expenses.
6. You don’t even know how much total debt you actually have.
7. You use cash advances from your credit cards to pay other bills.
8. You bounce checks or overdraw your bank accounts.
9. You’ve been denied credit.
10. You lie to friends or family about your spending and debt. Take Action Now

Sometimes we know deep down inside that we have a debt problem, but it is easier to deny the problem than to address it. It can be painful and require hard work, but the sooner you realize that you are in over your head, you can begin to make positive changes. Delaying changes to your habits will only prolong the problem and make it worse. If you don’t think you can tackle the problem alone, there are people out there willing to help.

Source: www.About.com

By Jeremy Vohwinkle

For more credit help, please visit our site. We have been there and know how bad credit can affect everything, including your health. Take a look!

If you know someone struggling to quit smoking we found a great site that offers genuine  help. You can Quit!!

Here is a great site for some wonderful Christian articles, short stories, plays, family stories, Bible studies etc. Check it out.

So your old car has finally bit the dust! You knew it was coming it was just a matter of when. The time has come to replace the old run down car with a new one.

Most of us have been there and done that so we can identify with your dilemma. However this situation is yours exclusively so you will have to answer certain questions to figure the next move. If it has been quite a while since you went car shopping you may suffer “sticker shock” when you shop. Let’s see if we can help you make this easier. After all life is hard enough without any extras thrown in!

If it has been awhile since you filled out a credit application here are some things the lender will be checking.

• Your credit score
• How much money you make
• Where you work and how long you’ve been employed there (two years of steady employment is what they are looking for)
• Your current credit cards and their balances according to the credit report
• How often you make on-time payments vs. 30, 60, 90 days late – and how recent were the late payments
• Whether you own your home or rent

The first two things are easy to prove. If you don’t know your credit score you will want to find out so you won’t be surprised or embarrassed. You should order a copy of your credit report to check for errors and fix those. There are three agencies (Equifax is the largest) that gather data from creditors. This information is then used to tally your credit score. They use a complex system and we explain that on our site . But the credit agencies make mistakes - sometimes lots of them - so you need to check your report for these errors.

We strongly advise getting pre-approved for your loan unless you like the headaches associated with shopping for a new car. Being pre-approved guarantees the amount of the loan and also guarantees the interest rate you will be charged. Then when you go shopping, tell the sales consultant how much you are approved for (and stick to it) because they will try to talk you into something that costs more money and of course a higher rate of interest if they arrange financing and higher monthly payments because they will make more money on the deal.

Check your local paper for pricing and the internet, but be sure to get pre-approved first so you will know how much you can afford.

Study our articles on car negotiating and verbal sales tricks that dealerships use to confuse you and get more money from you. (Car Negotiating Verbal Tricks) (Car Negotiating The Four Square)

For more credit help, please visit our site. We have been there and know how bad credit can affect everything, including your health. Take a look!

If you know someone struggling to quit smoking we found a great site that offers genuine  help. You can Quit!!

Here is a great site for some wonderful Christian articles, short stories, plays, family stories, Bible studies etc. Check it out.

By Amber Stubbs, CardRatings.com Reporter

Lurking among many other credit related myths is the belief that paying off credit cards may cause your credit score to decline. I continue to hear this and other related credit scoring myths from consumers that I interact with on a daily basis. In reality, when you pay off credit cards you decrease your overall utilization - your total balances vs. your total available credit - which improves your score.

In fact, utilization accounts for approximately 30% of your credit score. It is best that you keep your overall utilization below 10%. For example, if your total available credit on all credit cards is $25,000, then you want to keep your collective balance at less than $2,500. And, the lower your utilization is the better your credit score. So, the idea that paying off balances will negatively affect your score is simply not true!

However, the above scenario should not be confused with closing credit card accounts, which could have an adverse affect on your score for two important reasons. First, as discussed above, you have to consider how it will affect your utilization. Typically, closing an account will cause your utilization to increase and, as a result, your credit score to decrease. So, it is important to do the math before making a final decision. (Keep in mind how it could affect your utilization in the future as well!)

Additionally, you have to consider the age of the account. If it is one of your older credit cards, then it could also adversely affect the length of your credit history which makes up 15% of your FICO Score . Most of the time it is better to just “sock drawer” the card if you do not plan to use it anymore. That way having an account in good standing and the available credit is continuing to help your credit score.

Just be sure to remember to use the card about once per year for a small purchase, then pay in full when you get your statement. Doing so will help the account stay active and reporting as such to the three major credit bureaus . Reporting your on-time payments (preferably to all three major credit bureaus) is an effective way to boost your credit score. On a related note, it’s also a good idea to check with your creditor to find out which bureaus they are reporting to.

REF: www.cardratings.com

For more credit help, please visit our site. We have been there and know how bad credit can affect everything, including your health. Take a look!

If you know someone struggling to quit smoking we found a great site that offers genuine  help. You can Quit!!

Here is a great site for some wonderful Christian articles, short stories, plays, family stories, Bible studies etc. Check it out.