Why The Credit Bureaus LOVE Bad Credit
Your credit profile is made up of data collected by creditors, then reported to the credit bureaus. The bureaus then make a profit by selling this data in reports, leads, and other methods to creditors for the purpose of issuing new credit or soliciting you for credit. For example, when a creditor, such as CHASE,…
Who Are The Credit Bureaus?
The Fair Credit Reporting Act refers to the credit bureaus as Consumer Reporting Agencies or CRAs. The “Big 3” credit bureaus are Trans Union, Equifax, and Experian. There is a fourth reporting CRA known as Innovis, which creditors rarely use. These are private for profit companies who make money by collecting and selling consumer information.…
Why Is Your Credit Score Important?
I call this the Bad Credit Trap. This is a trap most consumers will never get out of. The system won’t naturally allow them to recover. In my career, I have heard thousands of clients tell me how good their credit was before it went bad. But I have never had even one client with…
Boost Your Credit Score Without Credit Repair
You’re about to learn a little known, highly effective, and thoroughly proven strategy I have used to help literally thousands of my credit repair clients to dramatically boost their credit scores almost overnight. I have personally helped thousands of hard working Americans just like you get the credit scores they deserve and get back on…
Get Your Credit Mortgage Ready
If you’re considering buying a home, then now would be a good time to check your credit report for errors. A $100,000 mortgage costs a good credit consumer $577 monthly and $207,720 over 30 years. The same home would cost a family with challenged credit $841 monthly and $302,760 over 30 years. The consumer with…
When (And When Not) To Settle Collections
In most circumstances it is important to pay or settle unpaid collections because not doing so can lead to a lawsuit or a collection agency selling the collection to other agencies when the debt REMAINS unpaid, which adds additional negative collections to your credit report. Knowing how much to pay or not pay can be…
8 Steps For Car Financing Approval
Most people in today’s society need a vehicle to get around. We require it to get to our jobs, our kids to day care, or just to get to the store. There are an estimated 250 million car owners in the U.S. alone, so chances are pretty good you are one of them or know…
How to Remove A Late Payment from Your Credit Report
A 30 day late on your credit report can lower your score by as much as 100 points. In this brief video you’ll watch me remove a 30 day late from a credit report in real time. Lenders often make accounting and reporting mistakes. Don’t let their mistakes cost you money. Knowing what to say…
Is Credit Repair Legal?
In a recent study, it was found that over 80% of credit reports across the United States contained serious inaccuracies, such as wrong social security numbers, collections or charge-offs that do not belong to consumers, and late payments that never occurred. Under the Fair Credit Reporting Act (FCRA) you have a right to dispute inaccurate…
What’s in a Credit Score?
There are many types of credit scores, but lenders only care about your FICO score, so let’s examine how FICO scores are determined. There are 5 factors that go into your FICO score. 1. Past Delinquencies – makes up 35% of score Timing of the delinquency – more recent lates affect scores more Level of…
