Know your Credit Report :

    Credit reports has detailed information about a person's financial history, identity, employment information, late payments, loans and credit accounts, etc. In simple terms, it ascertains the credit worthiness of the person.

      Understanding a credit report is not easy for all, but it is essential to analyze your credit report yearly once, so that you can avoid your credit going under risk. As we discussed about Getting Negative Comments Removed on your Credit Report earlier, now we can discuss about what are the important elements of a credit report.

• Credit reports contains your personal data such as your full name, your Contact address (previous and present), Date of birth, Social security number, Telephone number, Drivers license, Spouse's Name, details of current and former employers. These information will not affect the credit score, but just to confirm your identity.

• It has the credit history/summary such as, when a credit/debit account is opened, closed, account type, account number, payment habits, current balance, loans, monthly payments, name of the accounts, etc.

• It has details on various types of accounts that you had like:

                Installment accounts : It has a fixed payment for fixed period of   time. Example : Educational loans.

         Revolving accounts : Here the amount will be changing each month. Example : Credit card issued by bank & oil store.

                Real Estate accounts : Mortgage loans.

• It has a document of inquiries which shows a list of people along with the date who has viewed your credit reports for the past two years.

• It has public information about legal matters such as bankruptcy, court judgments and tax liens.

Do you have any doubt about legal Credit Repair Services??? Please feel free to call us at 800-693-9622

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Getting Negative Comments Removed on your Credit Report :

   It is the legal right of every consumer to challenge ANY entry on their credit report regardless of the entry's correctness or validity. If you challenge any item on any of your three reports, the only two things a credit bureau can do is uphold the entry validity or delete it. But the decision of one credit bureau has no bearing on the decision of the other two. You must go through this process with each bureau. When challenging items on your credit report you are hoping for (especially if you already know the information is correct) is one of 3 things:

1. Credit bureaus receive thousands of disputes each day. They additionally receive 30 to 40 million bits of new information daily. It is impossible to not make errors with such a vast amount of information being processed daily. Very often the technician is just plain to tired to be entirely accurate. And often times an item is deleted in absolute error. A deletion is your goal.

2. It is possible that the technician is too tired or lazy to research your one entry. Therefore, they simply delete it. This is simple human nature but the result is the same.

3. Your third hope is that the creditor they (3 bureaus) contact makes an error; has previously destroyed your record (many companies destroy information after 25 months to make room for new data) or is simply too tired to pay close attention and tells the bureau it cannot be verified. The item must now be deleted.

Please note that you may hear that an item must be challenged within 2 years, this is just not the case. eCreditAdvisor has removed negative items from people's credit reports that were 4 - 7 years old.

Stay connected with our blog to keep yourself updated on credit news and information.

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Consumers Seeing More Personal Debt And Seeking Relief Payment Plans

    Consumers who are seeing more personal debts through either loans or credit cards are often in a position where either budgeting or debt relief payment plans are being explored as a way to help these consumers avoid missed payments, damage to their credit, or generally as a way to help them find more money to spend in other areas, like investing, savings, or even to apply towards major debts like a mortgage. There are those who have continued to rely on credit or simply use credit to spend beyond their means to easily repay despite the fact that financial troubles remain in the lives of many consumers as a result of problems like unemployment or simply because of high rates on credit cards...Read more at Red, White, & Blue Press.

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Disputing

If inaccurate information appears on your credit report, you have the right under the Fair Credit Reporting Act (FCRA) to dispute the information.

What to do:

You should begin the dispute process by contacting the creditor responsible for the inaccuracy. You can find the contact information for each of your creditors at the end of your credit report.

You can also contact an eCreditAdvisor Representative to discuss the inaccuracy. Because eCreditAdvisor is not a credit bureau, we cannot correct the inaccuracy for you; however, we are happy to discuss your credit report and answer any questions you may have.

To dispute inaccurate information directly with the credit reporting agencies, you must explain the inaccuracies in writing. Include copies of documents that support your position. You can also include a copy of your credit report, and mark the items in question.

In your letter, be sure to include:

•    Your full name.
•    Your complete mailing address.
•    Your date of birth.
•    Your Social Security number.
•    The name and account number of the creditor and item in question.
•    The reason for your disagreement with the disputed item-be specific.
•    Your signature.

Special tip:

Send your letter via certified mail and save the receipt. Save copies of your dispute letter and all enclosures. This information should be filed away to document your communication with your creditors and the credit reporting agencies.

Please note:

This letter doesn't guarantee that the changes will be made on your credit report. It just insures that they will reinvestigate your credit report. If changes are made, you will be contacted by the credit reporting agencies within 30 days.

Stay connected with our blog to keep yourself updated on credit news and information.

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Repairing A Bad Credit Score After A Foreclosure :

    When it comes to repairing one’s financial life, specifically a bad credit score, after a foreclosure has occurred, homeowners may be in a position where they are unsure of what actions should be taken when they want to begin the process of rebuilding their credit even though they have a stain on their credit history like a foreclosure. Obviously, the route that a homeowner takes when it comes to addressing their bad credit...Read more at Red, White, & Blue Press.

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If your identity is stolen :

When you come to know that your identity has been stolen, then you should act quickly to protect yourself from further damage, there are few steps that you should follow immediately to preserve your credit.

• If you suspect that your identity has been stolen, the first step is to get all the facts about the damage.

• Start your own detective-search on your credit report and bank accounts for clues.

• Ask your creditors to immediately cancel any fraudulent charges and consider putting a security alert on your credit report.

• If the theft is serious, file a police report or file a complaint with the Federal Trade Commission (the FTC) by calling 1-877-IDTHEFT.

• Change all of the passwords that you use online and never save your passwords on the computer you use.

• If fraudulent records start to show up on your credit report, send letters of dispute to the reporting agencies with copies of documentation supporting your claim.

• Signing up with a credit monitoring service will inform you of changes to your credit. It may take a while to fully recover the security of your accounts, but it's crucial that you don't let the fraud escalate.

Identity theft doesn’t have to ruin your life or your credit. By staying calm, getting organized, and taking these crucial steps, you can overcome this stressful situation and stop thieves dead in their tracks.

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Identity theft & Preventative measures :

    Identity theft crimes range from purse snatchings to kingpin-style fraud rings. The definition of identity theft is a crime in which an imposter obtains key pieces of personal information, such as a Social Security number, in order to impersonate someone else.

     Identity theft can occur when someone takes your mail, steals your wallet or swipes your records from an institution. Most cases can be resolved fairly easily if they are caught early. Creditors and banks usually hold you responsible for only the first $50 of fraudulent charges. The most serious cases of fraud can take several years and many resources to resolve.

As we already discussed How identity theft occurs, we should now concentrate on preventing it.

Preventative measures

In this world of smiling strangers, it can be tough to keep your identity safe.Some of the preventive measures are

• The best security policy is to be aware of fraud and cautious about where you share personal information.
• Check your account statements carefully each month and keep an eye out for suspicious activity on your credit report.
• A paper shredder can also be a powerful tool for making sure personal information and pre-approved credit offers don't end up in the wrong hands.
• And there are more cautionary ways to keep ourselves safe from identity theft.

Get connected with eCreditAdvisor's Blog to know more.

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More than 10 million Americans will be affected by credit fraud this year - be cautionary.

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Credit risk and its types:

          Credit risk can be explained as, when a borrower fails to make his payment on a specified time or when he thinks to make use of his future savings to pay his current debt or to fulfill the requirements of his current situation. It is also connected with all debtors, businesses, individuals and securities issuers. Now we can discuss about types of credit risk.

• Default risk : It is also called as counter party risk. Here the individual or the companies will not be able to make their payment on their debt obligations. Usually lenders and investors are always exposed to default risk. The default risk is connected with the credit worthiness of the borrower while setting the interest rate for the requested loan.

• Downgrade risk : Here the bond price will be declined due to the downgrade in its credit rating. The rating agency will lower its rating on the issuer. This risk arises while ascertaining the financial situation of the company.

• Sovereign risk : This is the risk of a government becoming unwilling or unable to meet its loan obligations.

• Credit spread risk : This risk spread between the risky bond and risk-free securities that will vary after purchase.

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How identity theft occurs :

Identity theft is one of the nation's fastest-growing crimes, affecting more than 9 million people each year. The more you know about this prevalent crime, the better prepared you will be to protect yourself. Identity thieves can get hold of your personal information in a variety of sneaky and illegal ways:

Your mail:

• They go through your mail and take your bank and credit card statements, pre-approved credit offers, and tax information
• They complete a "change of address form" and reroute your mail to another location.

Stealing your information:

• They steal your wallet or purse containing your personal identification and credit cards.
• They "dumpster dive", rummaging through trash bins for your personal information such as unshredded credit card and loan applications.
• They "shoulder surf" at ATM machines and phone booths in order to capture PIN numbers.

Buying your information from a third party:

• They buy your personal information from "inside" sources. For instance, an identity thief may pay a store employee for a copy of your credit application

While pretending to be you, thieves:

• Call your credit card company and ask to change the mailing address on your credit card account. Then, they run up the charges on your credit card. Because your bills are being sent to the new address, it may take some time before you realize what's going on.
• Use your name, date of birth and SSN, to open a new credit card account. They use the credit card and don't pay the bills. Or, sometimes they make the minimum payment every month so that the activity can go on, unnoticed, for months.
• Establish phone or wireless service in your name.
• Open a checking account in your name and write bad checks.
• File for bankruptcy under your name to avoid paying the debts they've incurred as you.

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Bad Credit & its Symptoms :

Bad credit can be described as poor credit rating. You may convince yourself that your credit is good, but when you find that any of the below mentioned points applies to you, then it is a sign of bad credit. In order to avoid your bad credit at the initial stage, you should analyze your credit report carefully and approach credit repair companies.

• When your interest rates gets increased and when you're late on payments to other creditors.

• When you feel that you are running out of credit and under debt.

• When your credit score is below 650, then you are in need of credit repair.

• If you can't get loans approved by yourself, then you need a credit repair. But when your credit is good,  you need not seek others surety for your loans to get approved.

• When you have the situation of financial difficulties which you can't overcome.

• When your credit card application gets denied for the purpose of improper information in your credit report.

• When your credit card balance increase month by month, it's time to check and repair your credit score.

• When one of your credit card is closed by your card issuer, it might not be an issue. But when this repeats on many of your credit cards, you need a credit repair.

• When debt collectors start calling you, that means your creditors have given up trying to get you to pay your bills.

• When you cross your credit card limits continuously and your card issuer calls off the card.

• Most of the land lords will be checking credit. Bad credit of yours may result in keeping you away from getting a rental property.

• Many employers use your credit report to make hiring and promotion decisions. Putting off bad credit repair can keep you from getting the jobs you apply for.

Bad credit will make you to come up with excuses telling “I dont have time” or “I dont know” to check your own credit reports. The truth is you are afraid to see your report. Early you correct, you can overcome bad credit.

Keep yourself posted on how to increase your credit score through our blog

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Simple Measures to Prevent Credit Card Fraud :

Let us discuss about the measures that can be followed to protect yourself from credit card fraud.

• Remember or Memorize your personal identification number (PIN) code. Do not write the pin code anywhere else.

• Do not tell your pin code to anyone, even to the person you trust.

• Do not leave your card unnoticed or out of your sight.

• Do not leave your card where it can be noticed by others.

• Call your card issuer immediately to inform them that your card is lost or stolen or damaged.

• Tell your card issuer as soon as you notice something abnormal on your statement.

• When you are about to pay the bill in restaurant, Don't allow any restaurant staff to take your card and make the payment. You take the card to the counter place and make the payment.

• Wherever you make the payment and when the card is returned to you, check whether it is your card.

• If you are traveling abroad, inform your card issuer so that overseas transaction will be available to you.

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Credit Score Maximization – Contd.

In our previous post we discussed about Credit Score Maximization and tips to maximize credit score. Now we can see about few other tips in credit score maximization.

Length of Credit History Tips

• If you have been managing credit for a short time, don't open a lot of new accounts too rapidly. New accounts will lower your average account age, which will have a larger effect on your score if you don't have a lot of other credit information. Also, rapid account buildup can look risky if you are a new credit user.

New Credit Tips

• Do your rate shopping for a given loan within a focused period of time.

• Re-establish your credit history if you have had problems. Opening new accounts responsibly and paying them off on time will raise your score in the long term.

• Note that it's OK to request and check your own credit report. This won't affect your score, as long as you order your credit report directly from the credit reporting agency or through an organization authorized to provide credit reports to consumers.

Types of Credit Use Tips

• Apply for and open new credit accounts only as needed. Don't open accounts just to have a better credit mix - it probably won't raise your score.

• Have credit cards - but manage them responsibly. In general, having credit cards and installment loans (and paying timely payments) will raise your score. Someone with no credit cards, for example, tends to be higher risk than someone who has managed credit cards responsibly.

• Note that closing an account doesn't make it go away. A closed account will still show up on your credit report, and may be considered by the score.

Stay connected with our blog to keep yourself updated on credit news and information.

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Credit Score Maximization :

In our previous post we discussed about How Scoring Helps You now we shall see about how to maximize credit score.

It's important to note that raising your score is a bit like losing weight: It takes time and there is no quick fix. In fact, quick-fix efforts can backfire. The best advice is to manage credit responsibly over time. See how much money you can save by just following these tips and raising your score.

Payment History Tips

• Pay your bills on time. Delinquent payments and collections can have a major negative impact on your score.

• If you have missed payments, get current and stay current. The longer you pay your bills on time, the better your score.

• Be aware that paying off a collection account will not remove it from your credit report. It will stay on your report for seven years.

• If you are having trouble making ends meet, contact your creditors or see a legitimate credit counselor. This won't improve your score immediately, but if you can begin to manage your credit and pay on time, your score will get better over time.

Amounts Owed Tips

• Keep balances low on credit cards and other "revolving credit". High outstanding debt can affect a score.

• Pay off debt rather than moving it around. The most effective way to improve your score in this area is by paying down your revolving credit. In fact, owing the same amount but having fewer open accounts may lower your score.

• Don't close unused credit cards as a short-term strategy to raise your score.

• Don't open a number of new credit cards that you don't need, just to increase your available credit. This approach could backfire and actually lower score.

Please stay tuned to our blog to know more about other tips in Credit score maximization

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How Scoring Helps You :

In our earlier posts we discussed about Credit Scores and Credit Score Calculations now we can discuss in detail about how Scoring helps you .

Credit scores give lenders a fast, objective measurement of your credit risk. Before the use of scoring, the credit granting process could be slow, inconsistent and unfairly biased.

Credit scores have made big improvements in the credit process. Because of credit scores:

• People can get loans faster : Scores can be delivered almost instantaneously, helping lenders speed up loan approvals. Today many credit decisions can be made within minutes. Even a mortgage application can be approved in hours instead of weeks for borrowers who score above a lender's "score cutoff". Scoring also allows retail stores, Internet sites and other lenders to make "instant credit" decisions.

• Credit decisions are fairer :Using credit scoring, lenders can focus only on the facts related to credit risk, rather than their personal feelings. Factors like your gender, race, religion, nationality and marital status are not considered by credit scoring.

• Credit "mistakes" count for less : If you have had poor credit performance in the past, credit scoring doesn't let that haunt you forever. Past credit problems fade as time passes and as recent good payment patterns show up on your credit report. Unlike so-called "knock out rules" that turn down borrowers based solely on a past problem in their file, credit scoring weighs all of the credit-related information, both good and bad, in your credit report.

• More credit is available : Lenders who use credit scoring can approve more loans, because credit scoring gives them more precise information on which to base credit decisions. It allows lenders to identify individuals who are likely to perform well in the future, even though their credit report shows past problems. Even people whose scores are lower than a lender's cutoff for "automatic approval" benefit from scoring. Many lenders offer a choice of credit products geared to different risk levels. Most have their own separate guidelines, so if one lender turns you down, another may approve your loan. The use of credit scores gives lenders the confidence to offer credit to more people, since they have a better understanding of the risk they are taking on.

Credit Rates are Lower Overall :

With more credit available, the cost of credit for borrowers is decreasing. Automated credit processes, including credit scoring, make the credit granting process more efficient and less costly for lenders, who in turn have passed these savings on to their customers. By controlling credit losses using scoring, lenders can make rates lower overall. Mortgage rates are lower in the United States than in Europe, for example, in part because of the information - including credit scores - available to lenders here. Knowing and improving your score can also lead to more favorable interest rates.

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Credit Card Fraud - Awareness

As more than 10 million Americans will be affected by credit fraud this year and Credit Card Fraud or Credit Card Hijacking is one of the worst nightmare for anyone. Let's us discuss about it in detail.

Credit card hijacking is the term used when a person’s credit card is used by some unauthorized person (eg: a thief ,Vendor) to buy goods or services. The credit card owner usually has trouble reasserting control over the card, because usually they don't find out immediately, and the owner must distinguish legitimate purchases from illegitimate in a credible manner.

There are four common forms of Credit card hijacking:

1.Identity theft:
One of an example of hijacking credit cards is called identity theft.It is one's deliberate assumption of another person's identity.It can be caused by breach of privacy of one's credit card or it can involve the victim compromising financial or personal information which allows the thief to hijack your existing credit card(s).

2.Credit Card Hijacking by Cancellation Barrier:
Another common form of credit card hijacking is used by subscription companies, the payments for whom are routed through a credit card.The organization creates certain barriers that make it difficult for a credit card user to cancel his subscription easily, and as such continue to charge him for services he no longer desires or needs. This is in direct contrast to the traditional method of subscriptions, where the subscriptions have to be proactively renewed, and are cancelled or suspended if payments are not on time.The credit card makes the user’s money more easily accessible to the subscription company, and the liability resulting from inactivity falls on the user’s shoulders, rather than the company that is providing the service.

3.Negative Option Billing:
Negative option billing is a business practice in which goods or services are provided automatically, and the customer must either pay for the service or specifically decline it in advance of billing. Negative option billing reverses the usual direction of sales transactions. It assumes that unless you say 'no', you've agreed to have bought the goods. This is the common practice used in book clubs, record clubs, and magazine subscriptions with automatic renewal. Some practitioners of negative option billing prefer to call it "advance consent marketing".

4.Billing for membership rather than services:
If a customer cancels services provided by a vendor, the vender would be committing fraud if they bill for services not provided (for example internet access). Some venders avoid this problem by billing monthly for a "membership", even though no services are used by the former customer. By retaining the membership number in an active status, the vendor makes it difficult for the customer to prove that the membership was cancelled.

As it is now known how Credit card fraud occur, it will be useful to act with caution.

Stay connected with our blog to keep yourself updated on credit news and information.

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Tips for Preventing Credit Card Fraud

More than 10 million Americans will be affected by credit fraud this year. Credit  card fraud happens in a variety of ways, from someone using a lost or stolen card to criminals getting your account information online or someone use it for buying the products or stolen your cash. Follow these instructions to avoid the Credit card fraud.

1.    Keep Credit Card Number Confidential: Never write your PIN number on the credit card or do not write it as easily seen by others. Do not give any credit card information to the person who is seeking sales over the phone. Sign it on your credit card when you receive your new card and discard your old card properly.
2.    Be safe with your credit card online: Don't click on email links from anyone     pretending to be your bank, credit card Company, or other business who seeks your personal information, even if the email looks legal. Never buy anything through an unfamiliar website, even if it offers an extremely good price.
3.    Ensure that Transaction is being made only on your Presence: Check your card when it is returned to you by the cashier to ensure that it is yours and that it has not been tampered with in any way. Retain your receipts so that you can check them against your statement.
4.    Do not sign a blank Credit card receipt: To avoid the fraud always verify the amount on your credit card before signing it. If you get a credit card receipt that has blank spaces in it, write $0 in those spaces or draw a line through the lines above the total amount.
5.    Report immediately if your credit card is stolen or lost: If your credit card is lost or stolen report immediately to the Toll free number of your bank or credit card agency. Always keep card issuer contact number at hand.
6.    Review your statements each month: Unauthorized charges on your credit card   are the first indicator of credit card fraud. So check your transaction each month.
7. Credit monitoring Companies: Try to engage in credit monitoring companies so that you can alerted of any unpredictable change in your credit score as this could be a sign that some one is running up credit card.

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A Credit Report is a Qualitative Way of Evaluating Your Potential Risk

Credit report is, in many countries, a record of an individual's or company's past borrowing and repaying, including information about late payments and bankruptcy. when a customer fills out an application for credit from a bank, store or credit card company, their information is forwarded to a credit bureau. The credit bureau matches the name, address and other identifying information on the credit applicant with information retained by the bureau in its files. That's why it's very important for creditors, lenders and others to provide accurate data to credit bureaus.

If your credit report is in bad shape, or if you have errors on your credit report, the following company will help you fix your report.  Credit Repair is very well-known within the industry and offers a very popular service. 

You may have attempted credit repair in the past, but you were probably going about it in a way that was not best suited for you. With our website, you will learn how you can get to fix credit score repair and get on your way to having the credit score that you started out with before you had to deal with so many overpowering  finances.  Please visit our get organized page for helpful tips.

Get started today on fixing your credit score and live a happier future.

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Credit Score Calculation

Credit Score Calculation is a continuation to the previous post - Credit Scores and discusses on how the credit scores are calculated. 

Credit Scores are calculated from a lot of different credit data in your credit report. This data can be grouped into five categories as outlined below. The percentages in the chart reflect how important each of the categories is in determining your score.

 

 

These percentages are based on the importance of the five categories for the general population. For particular groups (e.g. people who have not been using credit long) the importance of these categories may be somewhat different.

Payment History

• Account payment information on specific types of accounts (credit cards, retail accounts, installment loans, finance company accounts, mortgage, etc.).
• Presence of adverse public records (bankruptcy, judgments, suits, liens, wage attachments, etc.), collection items, and/or delinquency (past due items).
• Severity of delinquency (how long past due).
• Amount past due on delinquent accounts or collection items.
• Time since past due items (delinquency), adverse public records (if any), or collection items (if any).
• Number of past due items on file.
• Number of accounts paid as agreed.

Amounts Owed

• Amount owing on accounts.
• Amount owing on specific types of accounts.
• Lack of a specific type of balance, in some cases.
• Number of accounts with balances.
• Proportion of credit lines used (proportion of balances to total credit limits on certain types of revolving accounts).
• Proportion of installment loan amounts still owing (proportion of balance to original loan amount on certain types of installment loans).

Length of Credit History

• Time since accounts opened.
• Time since accounts opened, by specific type of account.
• Time since account activity.

New Credit

• Number of recently opened accounts, and proportion of accounts that are recently opened, by type of account.
• Number of recent credit inquiries.
• Time since recent account opening(s), by type of account.
• Time since credit inquiry(s).
• Re-establishment of positive credit history following past payment problems.

Types of Credit Used

• Number of (presence, prevalence, and recent information on) various types of accounts (credit cards, retail accounts, installment loans, mortgage, consumer finance accounts, etc.).

Please note that:

• A score takes into consideration all these categories of information, not just one or two. No one piece of information or factor alone will determine your score.
• Your credit score only looks at information in your credit report. However, lenders look at many things when making a credit decision including your income, how long you have worked at your present job and the kind of credit you are requesting.
• Your score considers both positive and negative information in your credit report. Late payments will lower your score, but establishing or re-establishing a good track record of making payments on time will raise your score.

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Credit Scores

People depend on credit and its score for so many important things in life from buying a valuable asset or getting a loan. The credit score will determine whether you can buy an asset or avail a loan. As understood, credit plays a critical part in nearly everyone's life, but understanding what credit is and how it works can be a challenge.

A great way to understand the role credit plays in your life, and to empower yourself as a consumer, is with a basic knowledge of two credit fundamentals: Credit Scores and Credit Reports.

A credit score is a numerical expression based on a statistical analysis of a person's credit files, to represent the creditworthiness of that person. A credit score is primarily based on credit report information typically sourced from credit bureaus. (WIKIPEDIA)

Your credit score is a number based on the information in your credit file that shows how likely you are to pay a loan back on time; the higher your score the less risk you represent.

When a customer applies for credit/credit card/loan from a bank/store/credit card company, the applicants information is forwarded to a credit bureau. The credit bureau matches the name, address and other identifying information on the credit applicant with information retained by the bureau in its files. While lenders take into account many factors when making a credit decision, including your income and the kind of credit your applying for, your credit score only reflects the information in your credit report. Your credit score does not consider your ethnic group, age, religion, marital status and nationality. These are, in fact, prohibited from use in scoring by US law.

When a lender receives your FAIR Isaac credit bureau risk score, up to four "score reason codes" are also delivered. These explain the top reasons why your score was not higher. These reason codes are more helpful than the score itself in helping you determine whether your credit report might contain errors and how you might improve your score over time.

The score from each credit reporting agency considers only the data in your credit report at that agency. One agency might be missing data based on a name change or an address change. This is why you may have a different score from each of the credit reporting agencies.

In the next post, we shall discuss Credit Score Calculation. Get connected with eCreditAdvisor's Blog to know more.

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credit repair

A question you might be asking is “will paying off all of my bills return my credit to good standing and have that item deleted from my credit report?” 

Although this is a logical assumption to make, it is not true.

An item will actually appear on your credit report longer if you pay it than if it goes unpaid. The seven-year max required listing starts over again. Surprisingly, a negative debt that has been paid in full is not viewed any differently than a debt that has not been paid, and has a negative listing.

It becomes difficult to do this process all by yourself, you may sink even further. Call818-435-4364 so we can provide you with more information on your credit before you take any action. We want to make sure you are doing what is best for you.

Posted via email from ecreditadvisor's posterous by SocialNetGate

e Credit Repair

You may believe that you must pay negative items before they are removed from their credit report.

But the truth is...You actually DO NOT!

Now, you may still be responsible for paying them off.
Erasing an item from your report does not excuse you from payment of your debt. It just means that it will not appear when a potential credit grantor is viewing your report.

Our team can help you with this process.

Call us today!!!    818-435-4364

Posted via email from ecreditadvisor's posterous by SocialNetGate