|
|
|
|
Articles
One of the biggest problems that can affect your credit score are negative items on your credit history, especially when they are such items as "charge-offs" and "judgements." Getting these off your report can in some cases cause your FICO score to skyrocket. But how? Unfortunately, if you pay them they will most likely show as "paid charge off" or "settled charge off" which is almost as bad and won't help your score much, if at all. Ideally, you will want to get the negative account completely removed. Here are a few ways to do it:
|
|
Read more...
|
Yes, you heard that right. Let's say at some point you settled a debt with a collections agency, and they marked the account as "paid charge off" or "settled charge off" or something similar. Despite the fact that it's now paid, being marked as such will still hurt your credit score. A lot. It's still a "collections account" on your credit report. But there is hope. You have three different options you can try to get rid of the account completely:
|
|
Read more...
|
If you have a charge-off on your credit history, all this means is that a creditor gave up on you and turned the debt over to a collections agency. It doesn't mean you no longer owe the debt, it simply means that the creditor has written it off for tax reasons as part of their profit and loss statement; to them, it's normal; to you, it's one of the most damaging items you can have on your credit report.
|
|
Read more...
|
|
If you've already tried debt validation with the collection agency, and they've confirmed it, and you're still within the statute of limitations for the debt, then you may want to try settling. This means you concede that you owe the money and are willing to pay the agency at least a portion of it as long as they'll agree to write off the entire amount. It's haggling, basically, and if you're really lucky and the right conditions are present, you can get a "pay for delete:" an offer to pay off (usually) the entire debt in exchange for having the entire negative account erased from your credit report, but don't count on that. |
|
Read more...
|
In dealing with collection agencies, there's a very important step a lot of people overlook. According to the Fair Debt Collections Practices Act (FDCPA), you can demand that a collection agency send proof that a) the debt they are trying to collect is valid and b) that they are legally enabled to collect it. And why would it be otherwise?
|
|
Read more...
|
They keep bugging you. It borders on harassment. They call you at home, work, over and over. Credit card collection agencies. You're sick of their calls, and you want them to stop.
|
|
Read more...
|
Your credit score is comprised of several different factors, and here are 9 ways to lower it. Of course, the intent here is to show you what NOT to do.
|
|
Read more...
|
|
Here are the statutes of limitations for ONLY credit card debt collections, NOT loans, personal loans, mortgages, etc. The "clock" begins running the last time there was "activity" on the account: depending on state, this could be a payment, or even an acknowledgement of the debt. |
|
Read more...
|
Your credit report will have all kinds of accounts and payment histories on it, but 5 of those can really hurt your score much worse than anything else. Here they are:
|
|
Read more...
|
A credit inquiry happens when an agency looks at your credit history for some reason, and depending on the type can affect your credit score negatively. Some of them may be removable, however:
|
|
Read more...
|
|
There is a lot of advice about repairing your credit out there, and a lot of it is misleading. We've identified several commonly given pieces of advice that can seriously hurt your ability to improve your score if you listen to them:
|
|
Read more...
|
Scams. There are a multitude of "credit repair services" that are nothing more than scams, that break laws, that take your money for little return or to do something illegal to your credit or to just disappear. However, there are a few legit credit lawyers out there that can provide a beneficial service, IF you know what to expect.
|
|
Read more...
|
You need to get copies of all three credit reports to see where your score is, and you've seen the television ads about "Free Credit Report.com." That scam, owned by Experian, will sign you up for a $79 annual subscription that you don't need. However, the government has ruled that you can obtain one annual copy of your credit report from all three credit bureaus absolutely free, without having to give a credit card number. The easiest way to do this is online.
|
|
Read more...
|
|
A charge-off is one of the most damaging items on your credit report, and it's important to know how long a creditor can report a charge off before it falls off your report. How long do you have to wait before you can consider it "safe" and the creditor's negative mark will no longer affect your report? And if you do pay off an old charge off, will it help or hinder your credit report?
|
|
Read more...
|
With a little footwork, you can raise your credit score by yourself for free, without having to dish out any money to credit repair companies. Until recently, there was a particularly effective little trick known as a "piggyback" that would boost your FICO score fast, sometimes by a lot. Unfortunately, or perhaps fortunately depending on your point of view, it doesn't work anymore. So instead I'll show you how to raise your score in the modern world, perhaps not overnight, but as quickly as possible.
|
|
Read more...
|
|
|
|
|
|
|
|