Repair Your Own Credit – Remove...


Credit reports

credit report

Information on your credit report. If you don’t know what you’re credit score is, you might want to find out. The information on your credit report determines your credit score, and that determines the type of credit you can get.

What you don’t know about your credit report can hurt you.

Incorrect or inacurrate credit report information can do mighty damage to your credit score, and this could greatly impact the credit offers you get. The lower your credit score, the fewer offers you’ll receive from credit lenders, and the more restrictive these offers will tend to be.

With identity theft on the rise, you need to know what’s on your credit report

In the last few years, the amount of identify theft that occurs has risen dramatically. This means that now, more than ever, you need to monitor your credit report. Recently, in order to combat this latest form of fraud, the 3 major Credit Reporting Agencies (Equifax, Experian, and TransUnion) have now decided to offer free credit reports in several U.S. states. Even if your credit report costs you money to get, you should still make sure to order it! The damage that can be done if you’re not paying attention is extensive. An ounce of prevention, in this case, is worth a pound of cure.

Debt settlement: The Way To Become De...


If you are getting drowned in unpaid bills and are desperately seeking a debt solution to become debt free, you must opt for debt settlement . Though there are other types of debt solutions like debt consolidation, credit counseling, debt management plan and do-it-yourself programs, if you are looking for a solution that would eliminate your debts faster, debt settlement is the right answer.

When can you opt for debt settlement?

Creditors generally would not agree to settle your accounts if you are current on your payments or want to negotiate at an early stage of your default. So, you opt for a settlement under these circumstances:

  • If you have already reached limit on your credit cards, you can contact your creditors for a settlement.
  • If you can only manage to pay the minimum monthly payment or even less on your accounts, it is advisable that you opt for a settlement program.
  • Most of the time when the amount is huge, creditors agrees readily. So, if you have a minimum of $10,000.00 in unsecured debt, you can qualify easily.

How does a debt settlement program work?

When you think you should opt for debt settlement programs, it is important for you to know how these programs work to make you financially independent. It is a way that completely wipes out your debt. When you fall behind on your payments and find yourself unable to make any further payments, you can go for a settlement with your creditors. Your creditors would agree sooner or later to settle your debts than get you file for bankruptcy and not get paid at all. Settling your debts involves use of strong tactics to negotiate with your creditors and settle for a minimum amount of repayment, typically about 20% to 75% of your debts. The rest of the amount is forgiven and your accounts are reported as settled.

Advantages of debt settlement

There are 3 very vital advantages of opting for debt settlement. They are:

1. Debt-free instantly – You can be completely free of debts within months instead of years.
2. Huge savings – You’ll be able to settle your debts for far less than what you owe and thus would save a lot.
3. Avoid bankruptcy – It is an effective alternative if you are considering bankruptcy.

So, debt settlement is right for you if you want to see yourself debt free instantly. Do your research and see yourself attain financial stability.

Credit Repair Attorney

credit repair attorney

When consumers decide to fix their credit many consider using the services of a credit repair attorney. Credit repair attorneys operate within a legal framework of the Fair Credit Reporting Act (FCRA) to dispute and remove entries on a your credit report.

Credit repair attorneys can dispute any item that is erroneous, misleading or unverifiable. Entries that are considered “too old” can be disputed and removed from your credit report.

There are many law firms that offer credit repair attorneys and depending on the credit repair lawyer that you choose, you might be asked to pay for an initial “set-up” fee.

Most credit repair lawyers require a monthly charge, since successful credit repair is usually accomplished over the course of a few months to as long as a year, depending on the severity of the credit report that needs to be fixed.

It’s always best to do “due diligence” before hiring a credit repair attorney, because like anything in life, this service isn’t free.

Make sure that the credit repair attorney has a solid reputation and can deliver the results you’re paying for. Don’t forget, credit repair is something you can do without the help of an attorney, but it can be tedious and time consuming work.

Most importantly, the best thing you can do to repair your credit is to make timely payments on all of your accounts – after six to twelve months of solid payments, your credit can start repairing itself.

Is an IVA the right choice?


When it comes to tackling unmanageable debts, finding the right debt solution is an important decision. You’ll have to discuss all your options with a debt adviser before you can make a final decision, but here’s a quick introduction to IVAs to help you decide if an IVA could be the right choice for you.

Explaining an IVA

An IVA, also known as an Individual Voluntary Arrangement, is a formal arrangement between you and your unsecured lenders. It’s designed to write off any unsecured debt you can’t afford to repay, but first of all you’ll have to pay as much as you can into the IVA for an agreed period of time – usually five years.

This usually involves making monthly payments, which will be based on what you can afford after you’ve covered all your other essential costs (things like your mortgage/rent, bills and essential groceries). If your available income changes, your payments may be able to change too, although a significant change in your circumstances may call for a re-assessment of whether your IVA is still suitable.

As long as you keep up with your payments and stick to the terms of the IVA, you will be legally protected against any further action regarding your debts. If you miss multiple payments and the IVA ends up failing, however, your lenders are then entitled to take alternative action to try to recover their money.

Only on successful completion of the IVA will the unsecured debt you haven’t repaid be written off.

Although an IVA can really help, it will impact on your credit rating, and could require you to release equity from your home if you’re a homeowner.

How do I know if it’s right for me?

Firstly, it’s important to understand that an IVA will only be an option if you genuinely can’t afford to repay your debts within a reasonable period of time, but can (in most cases) still commit to regular payments that add up to what (enough of) your unsecured lenders consider a reasonable proportion of the money you owe them. Your lenders simply won’t accept an IVA if this isn’t the case.

Even if you do meet these criteria, there may be other more suitable options. For example, bankruptcy holds some advantages over an IVA, in that it is usually over more quickly and doesn’t always require regular payments. There are a number of options for tackling unmanageable debts, and you should always seek the advice of an expert before deciding on what you think is the right one for you.

This Sneaky Trick Raises Your Credit ...