The CreditConsultant

How long to repair credit

One question most credit experts typically get is how long does it take to repair credit? While this question does not have a definitive answer – each person’s record has different elements — there are steps you can take to make a gradual positive improvement to repair credit. Remember that most financial lenders look at the most recent history on your report.

Thus, losing your job and being unable to pay bills in recent months will cause an effect on your report. By starting today to pay down debts and fix any delinquent accounts, you should see a dramatic increase in your credit score within a few months to three years. The fewer negative items or late records you have on your account, the faster your financial score will improve.

Also, limit the number of inquiries you have on your account by lenders during this time period. (The more there are of these, the bigger the negative impact on your score.) In addition, many negative items fall off of your records within seven to ten years. By simply waiting for items that you cannot fix personally to come off, your credit score will increase.

While there is no exact time frame on how long it takes to repair credit, it is not something that you should expect to happen within days and/or weeks. Instead, have patience, make your payments on time each month, and take positive steps to pay down any debt from the past that may be on your credit record. Now that you are empowered with new information, go out there and restore your credit, and get the things you want in life.

Mark Clayborne is a Certified Credit Consultant with ten years of experience assisting consumers with credit issues. For more powerful secrets on credit repair, debt settlement, stopping collectors, rebuilding your credit, and raising your score, please read the first chapter of The Credit Repair EBook for Free and get a Free Restore your Credit E-class at http://www.hiddencreditrepairsecrets.com

How to Start Credit – 2 Proven Ways To Start Credit

Just about everything these days requires credit. From obtaining a credit card to getting a cell phone provider, a good credit history is needed. Even purchasing a house or car with a bank loan requires good credit. Perhaps you are young and just starting out financially. Or, maybe you have just never utilized credit. Either way, you might be wondering how to start credit with good habits to keep your record on track.

First
The first step in how to start credit is to apply for a small store retail card or loan with a co-signer. Generally, you will want this person to have good credit as the lender is using their previous record as collateral to extend financial help to you. If you default on the loan or fail to pay your bill, this affects the record of your co-signer.

Second
If a co-signer is not available, a secured card may be a way for you to start. In this case, a lending company requires a lump sum deposit payment up front in exchange for a credit limit of the same amount. For example, a $500 payment for a secured card will most likely give you a $500 card limit. If you fail to pay your card bill, the lender will take the fee out of the secured amount and negatively report this to the bureaus. If you continually pay your bill on time for a few years, several lenders will even reimburse the secured amount.

The easiest way to start credit off on a good foot is to pay on time every month. By creating a good habit in this now, you will build up positive history in your report. This allows for a higher score and further opportunities for loans in the future. Now that you are empowered with new information, go out there and build credit.

Mark Clayborne is a Certified Credit Consultant with ten years of experience assisting consumers with credit issues. For more powerful secrets on credit repair, debt settlement, stopping collectors, rebuilding your credit, and raising your score, please read the first chapter of The Credit Repair EBook for Free and get a Free Restore your Credit E-class at http://www.hiddencreditrepairsecrets.com

Many different guides to credit repair are available online – What You Should Know

Many different guides to credit repair are available online. But how do you choose one that is right for you? Although some of the steps and ideas in a guide to credit restoration can vary, the basic road map to repairing your credit remains the same.

First, obtain a copy of your bureau report. This is essential, as you cannot fix your record until you know what it contains. If there are any incorrect items, be sure to contact the bureau to file a dispute.

Second in this guide to credit repair is to pay off as many of the balances you are financially able to. Put together a plan over the course of a few days, weeks, or months to be able to rid your credit of any negative debts. You can also talk with your debtors about possibly settling a few older items for an amount less than full payment.

Third step in this to credit restoration is to check the balances of any open revolving accounts you may have. According to most bureaus, you should not be utilizing more than 30% of your credit limits. More than this number can signify a dependency on your cards, which in turn can have a negative impact on your score. In addition, be choosy on how many times your credit report gets run. The more times the report is accessed within a given period of time, the more it will lower your score.

The last and most important item in this guide to credit repair is to have patience. While it may take a bit of time, repairing your credit will put you on the road to financial readiness and stability.

Mark Clayborne is a Certified Credit Consultant with ten years of experience assisting consumers with credit issues. For more powerful secrets on credit repair, debt settlement, stopping collectors, rebuilding your credit, and raising your score, please read the first chapter of The Credit Repair EBook for Free and get a Free Restore your Credit E-class at http://www.hiddencreditrepairsecrets.com

New Credit File – What You Should No about A New Credit File

You have probably seen advertisements online and during late night television offering to sell you a new credit file. For a few hundred to even a few thousand dollars, these companies claim they can create a new credit file and identity for you. In most cases, these are scams designed to prey upon financially challenged individuals who feel they have no other option than to start fresh with a new file.

Usually, upon applying for a retail store card or loan, the company in which you applying with asks for your social security number. It is this number that ties you to your report and your history. Claims that you can get a new credit file are simply stating that they can possibly help you obtain a new social security number. This is a false misconception.

The only opportunity you have to obtain a new social security number comes from the federal government, not from a private company. Even then, your current number must contain the numbers that would be against any religious or superstitious reasoning and you must prove the change is valid. (For example, having the numbers “13” or “666” and a religion that sees these numbers as a bad omen would be acceptable.) For many, this is simply not the case.

Thus, the only true way to improve your credit file and “start fresh” is to pay off old debts and pay on time for current ones. As time goes on, this combination can dramatically improve your score. Now that you are empowered with new information, go out there and apply this knowledge.

Mark Clayborne is a Certified Credit Consultant with ten years of experience assisting consumers with credit issues. For more powerful secrets on credit repair, debt settlement, stopping collectors, rebuilding your credit, and raising your score, please read the first chapter of The Credit Repair EBook for Free and get a Free Restore your Credit E-class at http://www.hiddencreditrepairsecrets.com

Understanding Your Credit Report – Show Me the 4 Ways To Understanding My Credit Repor

Understanding your credit report can be a daunting task for many people, especially if they are reading one for the first time. Luckily, reports can easily be understood if you know a few key factors that affect your reports.

First
First, check to make sure any identifying information on your report matches you. This will usually include mailing addresses, phone numbers, places of employment, etc. Slight misspellings or variations are not uncommon and do not affect your score. However, if there is a record of you that grossly does not match, then contact the credit reporting bureau immediately.

Second
The second important item to consider when understanding your report is the credit summary section. This will usually give a tally of the number of revolving accounts you have open, the number of real estate accounts, the number of delinquent accounts, etc. In addition, this section will usually include an amount for your total amount of debt.

Third
The next piece of the report to consider when understanding your report is the individual account history. This section will detail the length of time you have had the account open, the type of account, the credit limit or loan amount, and any payment history. The section will also report any payments that were made late over the company’s typical grace period. If you have a lot of accounts that are showing delinquent payments, this will affect your score.

Fourth
Another section in your bureau report is the public records section. This details any tax liens, public judgments, or other possibly derogatory financial settlements against you. However, one thing to remember when understanding your report is that these judgments are only kept on record of your report for seven to ten years. Only severe financial items are included in this section, not minor arrests or other law enforcement involvement.

The final section in your report details the number of inquiries of you record. One important thing to remember when understanding your report is that lenders only see “hard” hits against your credit. “Soft” hits will be included in your copy of the bureau report, but in no other one. Before you apply for any sort of credit line, be sure to ask the lender whether or not their request of your report is considered a hard or soft hit. Too many hard style credit report inquiries can negatively impact your score and affect your ability to purchase a home or a car loan.

Mark Clayborne is a Certified Credit Consultant with ten years of experience assisting consumers with credit issues. For more powerful secrets on credit repair, debt settlement, stopping collectors, rebuilding your credit, and raising your score, please read the first chapter of The Credit Repair Book for Free and get a Free Restore your Credit E-class at http://www.hiddencreditrepairsecrets.com

Ways to Build Credit – Discover the 3 ways to build credit fast

Whether you are just starting out or simply trying to repair your record, you might be wondering how to get credit. Here are a few simple ways to get credit for the first time or during the rebuilding stage .

? Get a Co-signer with Good Credit: There’s an old saying about the lottery: you can’t win if you don’t play. This is quite true in terms of credit, as well. You cannot get loan if you never apply for a credit card or loan. If you currently have zero credit or it is bad, you may need a co-signer with a good record to apply with you. This co-signer adds their name to your card or loan, meaning if you fail to pay your bills they are as responsible as you are.

? Apply for a Secured Credit Card: If a co-signer is not available to help you get a loan, you may be required to put down a security deposit before you are given a card. Usually, this amount matches the same amount of credit you are requesting. If you fail to make your payments, the credit card company will take what is owed out of your deposit and report it negatively to the reporting agencies.

? Start good Financial Habits: The better financial habits you keep now, the more likely you are to be offered and approved to get a loan later. This means paying all your bills on time, paying off as much of your debts each month as possible, and not reaching your maximums by routinely utilizing less than 30% of your limit.

Now that you are empowered with additional information, go out there and take action to start building your financial life.

Mark Clayborne is a Certified Credit Consultant with ten years of experience assisting consumers with credit issues. For more powerful secrets on credit repair, debt settlement, stopping collectors, rebuilding your credit, and raising your score, please read the first chapter of The Credit Repair Book for Free and get a Free Restore your Credit E-class at http://www.hiddencreditrepairsecrets.com

What is my credit – What Should I know

Maybe you are young and just starting out. Or maybe you’ve just never taken an interest into your financial well-being. Perhaps you are wondering, what is credit? In very simple terms, credit is money that you borrow for a specific period of time before giving back. This can be something as simple as a loan on a house or car. Or, this could be a credit card in which you are borrowing funds to pay back via your monthly bill. In fact, credit could even be the $20 bill you borrowed from your sister last week. (Although this type of personal loan isn’t calculated into your history and won’t affect your score!)

Credit is also extremely important in our society. You will need it to do pretty much anything: obtain a cell phone provider, get certain types of jobs, rent an apartment, apply for an auto loan, buy a house, etc. A bad history can be quite detrimental and be the reason for a denial from a lending institution. A good history, however, can help you obtain the funding that you need to live life to the fullest.

As you learn what credit is and what it is all about, be sure to always make your payments on time. Do not exceed your limits on retail cards or other lines of credit. In addition, keep a monthly budget and regularly review your financial expenditures. By creating good financial habits from the start, you are ensuring a favorable credit record. Now that you are powered with new information, got out there and take action.

Mark Clayborne is a Certified Credit Consultant with ten years of experience assisting consumers with credit issues. For more powerful secrets on credit repair, debt settlement, stopping collectors, rebuilding your credit, and raising your score, please read the first chapter of The Credit Repair Book for Free and get a Free Restore your Credit E-class at http://www.hiddencreditrepairsecrets.com

Your Credit Report-What Should I know

Credit is a very important element to your financial well-being. Almost everything you do involves your credit report in some fashion. Renting an apartment, obtaining a cell phone provider, buying a car, being employed in certain jobs, and getting a credit card all involve your credit report.

Still wondering why paying attention to your credit report is important? A bad credit report record can get you denied for any of these items. How embarrassing would it be to get denied for the job of your dreams, all because you decided to stop paying your bills? Or what about trying to buy your first home with your new spouse, only to find out your report has caused both of you to be denied? While these are quite extreme examples, it does illustrate how important your report can be.

Are you wondering what you can do to improve your report? Take advantage of your yearly right to obtain one copy of your report from each of the three bureaus. Review your report for any discrepancies and report them immediately to the agency in which you obtained the report. In addition, to improve your report, pay all bills on-time and pay off as much old debt as possible. Also, try not to use more than 30% of each of your revolving lines of credit at once, as this can lower your score. And remember, good financial habits now affect your report later in life! Now that you are empowered with new information, go out there and take action.

credit report,credit card,bad credit report,important element,report later,bad credit

Mark Clayborne is a Certified Credit Consultant with ten years of experience assisting consumers with credit issues. For more powerful secrets on credit repair, debt settlement, stopping collectors, rebuilding your credit, and raising your score, please read the first chapter of The Credit Repair Book for Free and get a Free Restore your Credit E-class at http://www.hiddencreditrepairsecrets.com

Your Credit History-What Should I know

You might be wondering why your credit history is so important. A credit history report is a compilation of financial data about your monthly bills, your credit card status, any outstanding loans you may have, and any tax liens or judgments against you.

A good credit history is typically needed to buy a house, buy a car, apply for a credit card, or even get employed in certain jobs. Even many phone companies, utility companies, and property leasing companies use your financial history to determine if they can do business with you.

If your history reflects mostly negative information, then you can be denied any of these items. How detrimental would it be if you were denied the job or apartment of your dreams, all because your history was negative? Thus, it is extremely important to know about credit reports and how to keep your history positive.

The easiest way to keep your financial history positive is to pay any outstanding bills on time, every month. In addition, keep your card balances at or below 30% of their limits at all times. (This is the percentage recommended by most reporting agencies and financial experts to most positively affect your score.)

By keeping your history in good standing, you ensure that your score will be in a good range the next time you need to apply for something important. Create good financial habits now, so that your financial history reflects positive elements in the future. Now that you are empowered with more information, go out there and take action.

Mark Clayborne is a Certified Credit Consultant with ten years of experience assisting consumers with credit issues. For more powerful secrets on credit repair, debt settlement, stopping collectors, rebuilding your credit, and raising your score, please read the first chapter of The Credit Repair Book for Free and get a Free Restore your Credit E-class at http://www.hiddencreditrepairsecrets.com

Credit Bureau letter-How to use it to get Negative Items off of Your Credit Report

Many people know that, by federal law, you are able to obtain one free copy of your credit report from each of the three credit bureaus per year. Mistakes happen and sometimes these reports reflect negative or incorrect information. However, what you might not realize is that it is quite easy to dispute any negative items on your report with a credit bureau letter.

When deciding to send a credit bureau letter, you have two choices. The first is to create your own. Second, you can download a sample form credit bureau letter from the internet to fill out and get you started. Either way, a credit bureau letter always includes your contact information, social security number, and information for the account in which you are disputing including a full account number.

In addition, you will want to attach any supporting documentation supporting your cause. For example, if your report is showing negative information that you made seven late payments within a year time period and you really only made three late payments, include a copy of your payment history. Also, be sure to write a separate bureau letter for each account issue you wish to address. The reporting bureaus are required to investigate your claims and respond within a reasonable period of time.

Mailing information for each of the reporting bureaus can be found at their websites which is Experian, Equifax or Trans Union. This can be an excellent way to easily improve or correct your credit report history, all by sending a simple bureau letter. Now that you are empowered with more information, go out there and take action.

Mark Clayborne is a Certified Credit Consultant with ten years of experience assisting consumers with credit issues. For more powerful secrets on credit repair, debt settlement, stopping collectors, rebuilding your credit, and raising your score, please read the first chapter of The Credit Repair Book for Free and get a Free Restore your Credit E-class at http://www.hiddencreditrepairsecrets.com