Can you stop debt collectors ? . . .You better know you canYou can stop debt collectors under the law provided by the Fair Debt Collection Practices Act. If you use credit cards, owe money on a personal loan, or are paying on a home mortgage, you are a "debtor."If you fall behind in repaying your creditors, or an error is made on your accounts, you may be contacted by a "debt collector." You should know that in either situation, the Fair Debt...more
Your credit report--a type of consumer report--contains information about where you work and live and how you pay your bills. It also may show whether you've been sued or arrested or have filed for bankruptcy. Companies called consumer reporting agencies (CRAs) or credit bureaus compile and sell your credit report to businesses. Because businesses use this information to evaluate your applications for credit, insurance, employment, and other...more
Your credit file may not reflect all your credit accounts. Although most national department store and all-purpose bank credit card accounts will be included in your file, not all creditors supply information to credit bureaus : Some travel, entertainment, gasoline card companies, local retailers, and credit unions are among those creditors that don't.If you've been told that you were denied credit because of an "insufficient credit file" or "no credit file" and you have accounts with creditors that don't appear in your credit file, ask the credit reporting agency to add this information to future reports.Although they are not required to do so, many credit bureaus will add verifiable accounts for a fee. However, understand that if these creditors do not report to the credit bureau on a regular basis, the added items will not be updated in your file.Sample Letter to Add Positive Information to Your Credit RecordDateCredit Bureau NameAddressCity, State ZipTo Whom It May concern :After reviewing my recent credit report from your company, I noted that my credit report does not include information that I know is important to providing a complete picture of me as a credit using...more
Ever wonder how a creditor decides whether to grant you credit? For years, creditors have been using credit scoring systems to determine if you'd be a good risk for credit cards and auto loans. More recently, credit scoring has been used to help creditors evaluate your ability to repay home mortgage loans. Here's how credit scoring works in helping...more
So-called "credit repair" companies claim they can remove negative information from credit reports. Advertising as "Credit Advisors," "Credit Rating Correction Services" or "Credit Consultants," they trumpet variations on this message: "Turned down because of bad credit? We can help!" Many of these companies charge hundreds if not thousands of...more
Mathematics is unerring. As a child we are taught that 2 + 2 = 4. This will never change and will always yield the same results; except when it comes to calculating you phone bill. Most long distance carriers advertise their low rate per minute costs. However, before you can really make an informed decision as to which carrier offers the best value you need to consider all of the "other" costs that may be buried in the fine print. Read all of the restrictions and costs in detail then analyze these "added" costs against your specific calling habits. Only then will 2 + 2 truly equal 4.For instance, many carriers will charge a monthly fee in order for you to qualify for their low rate per minute charge; while other carriers will impose a minimum monthly usage charges. If you fail to reach this minimum usage then you are charged added costs. The key to getting the overall best value on your long distance is to review your monthly statements and analyze your calling habits. The key things to look for are the total number of minutes, call duration, for all of your long distance calls. Does this number change every month or is it more or less constant? Is there a particular state or...more
You may already be familiar with Check 21, a federal law that goes into effect on October 28, 2004. If you're like me, this may be something you hadn't heard about until just yesterday. The Check Clearing for the 21st Century Act, otherwise known as...more
If you're a webmaster who has been itching to start a home based business and you are experiencing some cash flow problems and are considering leaving your dreams by the wayside, don't. Credit cards may be your answer. Now before you start feeling...more
Let's be crystal clear, right up front. Paying someone to "fix" your credit is a waste of your time and money, since the negative issues that are temporarily removed from your file will only reappear again in a couple of months.Be careful with credit...more
The U.S economy continues to grow and corporations are enjoying large profits, but the majority of Americans still struggle with finances. This is one of the main reasons many people are looking into the benefits that a home-based business can offer....more
If you are searching for ways to earn an income using the internet, you must have already come across many programs with unbelievable claims of overnight income. This article outlines 7 criteria that I use to evaluate any opportunity that presents...more
Q. I have several projects going at once -- but I never seem to finish them! I'm pulled in so many different directions -- and I end up with nothing to show for my efforts!A. While you're in a creative mode, you're most likely to be swamped with...more