If you’re thinking about filing for bankruptcy, be aware that bankruptcy laws require that you get credit counseling from a government-approved organization within six months before you file for bankruptcy relief. You can find a state-by-state list of government-approved organizations at www.usdoj.gov/ust, the website of the U.S. Trustee Program. That’s the organization within the U.S. Department of Justice that supervises bankruptcy cases and trustees. Be wary of credit counseling organizations that say they are government-approved, but don’t appear on the list of approved organizations.


Credit repair ,my credit was pretty bad and I didn't think that anybody can help because I was helped by two different companies and all the did they got money from me but they didn't help in any way, after meeting with Mr Avtel he assured me that he can fix my credit, I'm so thankful and happy with the results my credit score was improved from  535 to 720 and just leased my new Mercedes.

One of the main benefits of consolidating your credit card debt is getting a reduced interest rate. Reducing your interest rate allows you to lower your monthly payment and pay off your debts sooner. As a result, if you can’t lower your interest rates by consolidating your credit card debt, then it is probably not worth the extra cost and fees you will have to incur to do it.
While credit building loans can be a key step in establishing a strong credit history, it’s imperative that you make all of your payments in full and on time. When you are committed to building a strong financial future with personal budgeting and spending discipline, successfully paying off a credit builder loan can lead to approval for good rates and terms on mortgages, auto loans and other loans in the future.
What can and DOES change is whether you have a collector pursuing you for the debt. If you are talking about a dormant account that has been in collections and has finally been left alone with no collections activity for a few years, messing with it can be problematic from the point of view that the collections people will start pestering you again to see if they can get money and if the SOL isn't up, they can start reporting on it again which can affect your score or they could even file suit if your state SOL isn't up.
This is a basic balance transfer deal with an above average term. If you don’t have credit card balances with Discover, it’s a good option to free up your accounts with other banks. With this card, you also have the ability to earn cash back, and there is no late fee for your first missed payment and no penalty APR. Hopefully you will not need to take advantage of these features, but they are nice to have.
It sounds like you are in a Catch-22 – you can’t pay down your debt without consolidating, and you can’t consolidate until you pay down your debt. That makes me think that you could be a good candidate for credit counseling. A credit counseling agency does not care about your credit scores. Your interest rates and payments will likely be reduced, and you will have a plan for paying back your debt in a reasonable period of time. We talked about that more in this article: Does Credit Counseling Work?
The Citi® Diamond Preferred® Card – 21 Month Balance Transfer Offer has the longest intro period on our list at intro 0%* for 21 months on Balance Transfers* made within 4 months from account opening. There is also an intro 0%* for 12 months on Purchases*. After the intro periods end, a 14.99% - 24.99%* (Variable) APR applies. The balance transfer fee is typical at 5% of each balance transfer; $5 minimum. This provides plenty of time for you to pay off your debt. There are several other perks that make this card great: no annual fee, Citi® Private Pass®, and Citi® Concierge.
If you consolidate by taking a personal loan to pay off your credit cards, your utilization ratio could go down, causing your score to go up. For this to work, you need to leave the credit card accounts open after you pay them off. But your credit rating could go down if an underwriter has cause for concern that you could easily rack up new debt on the open and now balance-free credit cards (many people do).
The Capital One® Secured Mastercard® offers qualifying cardholders a lower security deposit compared to other secured cards. You will get an initial $200 credit line after making a security deposit of $49, $99, or $200, determined based on your creditworthiness. Typical secured cards require you to deposit an amount equal to your credit limit, so this card has added perks for people who qualify for the lower deposits.
This is easier said than done, but reducing the amount that you owe is going to be a far more satisfying achievement than improving your credit score. The first thing you need to do is stop using your credit cards. Use your credit report to make a list of all of your accounts and then go online or check recent statements to determine how much you owe on each account and what interest rate they are charging you. Come up with a payment plan that puts most of your available budget for debt payments towards the highest interest cards first, while maintaining minimum payments on your other accounts.
Veteran journalist/blogger Tom Jackson has worked for newspapers in Washington D.C., Sacramento, Calif., and Tampa, Fla., racking up state and national awards for writing, editing and design along the way. Tom also has been published in assorted sports magazines, and his work has been included in several annual “Best Sports Stories” collections. Most recently, his blogging for various websites on the 2016 election won a pair of top honors from the Florida Press Club. A University of Florida alumnus, St. Louis Cardinals fan and eager-if-haphazard golfer, Tom splits time between Tampa and Cashiers, N.C., with his wife of 40 years, college-age son, and Spencer, a yappy Shetland sheepdog.
All this program takes is the ability to mail a certified letter to the credit reporting agencies.  The ebook has step-by-step instructions on what to do, how to do it, and when to it.  Everything is included in this kit.  You will have the mailing addresses for the CRA’s and dispute letter templates ready to go along with an example dispute to show you how it’s done!

However, each model weights the information differently. This means that a FICO® Score cannot be compared directly to a VantageScore® or an Equifax Risk Score. For example, a VantageScore® does not count paid items in collections against you. However, a FICO® Score counts all collections items against you, even if you’ve paid them. Additionally, the VantageScore® counts outstanding debt against you, but the FICO® Score only considers how much credit card debt you have relative to your available credit.

The Discover it® Student Cash Back is our top pick for a student card since it has a wide range of benefits. There is a cashback program where you can earn 5% cash back at different places each quarter like gas stations, grocery stores, restaurants, Amazon.com or wholesale clubs up to the quarterly maximum each time you activate, plus 1% unlimited cash back automatically on all other purchases. Plus, new cardmembers can benefit from Discover automatically matching all the cash back you earn at the end of your first year. Another unique perk is the good Grades Reward: Receive a $20 statement credit each school year that your GPA is 3.0 or higher, for up to five consecutive years.
With that being said, I went to apply for a personal loan to be added to my 5,500 loan for $3,500 to pay off the CC debt and eliminate the high interest rate payments (saving me over $100 a month), but was declined due to increase of debt. So I guess my question is, how is someone to pay off other debts if credit unions are judging your debt off a mortgage payment? My debt to income has not changed since the original loan and I have a “fair” credit score according to a credit simulator. I just purchased a home which wiped out my savings, so what is my best option here?

This is a riff off the strategy to pay before the statement date for those that cannot make a lump sum payment, similar to making bi-monthly payments to reduce your mortgage debt faster. For a 30-year mortgage, this strategy results in reducing the balance before interest is charged every month and in making an additional month’s payment every year, effectively reducing the loan term and interest charges dramatically over the life of the loan. For credit card payments, it can also mean the difference between being able to pay extra and not being able to pay extra during the month. So try making one payment before the statement date and another payment by the due date to pay down the balance as quickly as possible.
You cannot use your existing credit cards while you’re on a debt management plan, nor can you open new accounts. McClary also said that if you do manage to open new credit card accounts during your debt management plan, existing creditors who find out may stop participating in your debt management plan and reset your account to its original terms and interest rate.

If you’re hesitant for your teen to open their own credit card, adding them as an authorized user on your credit card account may be the best option. You can easily monitor their spending through statements and online banking. While they piggyback off your credit, you can continue to benefit from the same perks your card offers and even earn rewards on their purchases — if you have a rewards card.

Reputable credit counseling organizations can advise you on managing your money and debts, help you develop a budget, and offer free educational materials and workshops. Their counselors are certified and trained in the areas of consumer credit, money and debt management, and budgeting. Counselors discuss your entire financial situation with you, and can help you develop a personalized plan to solve your money problems. An initial counseling session typically lasts an hour, with an offer of follow-up sessions.


You can apply as a non-member online to get a decision before joining. And Justice is unique in that the Student VISA® Rewards Credit Card from Justice FCU is also eligible for the intro 0% for 6 months on purchases, balance transfers, and cash advances. So, if your credit history is limited and you’re trying to deal with a balance on your very first card, this could be an option. The APR after the intro period ends is 16.90% fixed.

You have a low score, so I’m going to guess you have some charged-off, unpaid or seriously delinquent accounts on your credit report. The damage to your credit score has already happened. What you can do initially is make sure the negatives reported on your credit file are accurate and not out of date. Look over your credit reports, and dispute any negative items that you don’t think are yours or are more than 7 years old. Once you have ensured your history is accurate, you can work on adding new, positive data.

Beyond that is creditor information, which makes up most of your reports. This includes different accounts you have (loans, credit cards, etc.), their status (open/closed, in collections), balances, credit limits and payment details. This may also include dates of missed payments or late payments, or when the accounts were sent to collections. From these details, your credit scores will be formed.
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