You can start to resolve identity theft issues by visiting www.identitytheft.gov to report identity theft and get a recovery plan. This is an excellent, free website created by the Federal Trade Commission. In addition to reporting identity theft, you will receive a free action plan, and you’ll gain free access to people who can guide you through the identity resolution process.
Unsurprisingly, consumers across the southern United States are far more likely to have subprime credit scores than consumers across the north. Minnesota had the fewest subprime consumers. In December 2016, just 21.9% of residents fell below an Equifax Risk Score of 660. Mississippi had the worst subprime rate in the nation: 48.3% of Mississippi residents had credit scores below 660 in December 2016.35
This tip is a valuable financial lesson that many people can implement, and it can completely transform their financial situation. Typically, people tend to wait until the last minute to pay their bills, which results in late payments, late fees, and extended loans. The goal with this is to develop the habit of scheduling your payments to be automatic. IF you have already missed a payment in the past, this tip is even more important for you. By scheduling your payments automatically, you are making the dedication that the money will be in the account by the time the bill needs to come out. This, at the same time, if properly managed, can help direct your entire attention on paying your bills on time, rather than purchasing something out of instant gratification. Also, by showing lenders that you have set up automatic payments, it shows a level of dedication towards fast credit repair.

Consolidation means that your various debts, whether they are credit card bills or loan payments, are rolled into one monthly payment. If you have multiple credit card accounts or loans, consolidation may be a way to simplify or lower payments.  But, a debt consolidation loan does not erase your debt. You might also end up paying more by consolidating debt into another type of loan.

You cannot sign up for new credit cards, nor can you use the ones you have. While it may sound unreasonable to bar you from using credit, the point of your debt management plan is helping you dig your way out. “The last thing you want to be doing is running up more high-interest debt on the side,” said McClary. “You’re not doing yourself any favors in that situation.”

In 2008, American households carried $280 billion in debt. While debt dwindled in the following years, in 2017 the country hit another record – $13 trillion in household debt, including mortgages, car loans, credit card debt and student loans, according to the Federal Reserve Bank of New York. If you, too, are struggling with debt and you're looking for some strategies to reduce what you owe, try implementing these smart money-management habits.
One of the biggest considerations people make when deciding whether to file for bankruptcy is the potential impact it will have on their future financial lives. While it can certainly help them clear out massive amounts of debt that they couldn’t handle on their own, it can also restrict their ability to take out loans and credit during the payment term of the bankruptcy by requiring them to get the court’s permission first.
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.
Contrary to popular belief, credit repair is not always difficult and frustrating. While many see the process as long and confusing, there are many ways to clean up your credit in just a few minutes or hours. If you are looking to take control of your financial future, get started by using the tips below. Credit repair may be easier than you think.

One of the biggest pitfalls of debt consolidation is the risk of running up new debt before the consolidated debt is paid off. When you finish paying off credit cards with a consolidation loan, don’t be tempted to use the credit cards with their newly free credit limits. If you think you might, close the accounts. You may have heard that doing so could hurt your credit score, and it might. But you can recover from credit score damage much more easily and quickly than you can recover from crushing debt.

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You may have heard that some creditors are willing to settle your debt for pennies on the dollar. In reality, credit card debt forgiveness is rare and tricky, and can be very costly. You have to first be in serious arrears. Then you have to convince your creditors that you don’t have the means to repay your debt and your situation isn’t likely to change. If you manage to work out a debt settlement agreement, the creditor is all but guaranteed to report your forgiven debt to the IRS. The forgiven debt is considered taxable income.
Dispute any negative items on your credit report that aren't yours or are otherwise reported incorrectly. These could include late payments, charge-offs or collections errors that shouldn't be on your report. You can do this by requesting verification, and if the items cannot be verified, the credit bureaus have to remove them. If items older than seven years (10 years for bankruptcy) have not automatically been removed from your report, you can request that the credit bureaus delete them.
The statement date (which occurs well before your payment due date) is the date listed on your statement when the credit card company records your balance to charge interest for the month. It is also the balance reported to the credit bureaus. If you are planning to make a lump sum payment to the balance and want to see the positive result to your credit score as quick as possible, make the payment well before that statement date so the new lower (or zero) balance is recorded and reported.
You could consolidation the loans with a federal Direct Consolidation Loan. The Department of Education will issue you a new loan and use the money to pay off your existing loans. If you include your defaulted loan, that loan will be paid off, and your new consolidation loan will be current. To be eligible, you must agree to either repay the consolidation loan with an income-driven repayment plan or to make three monthly payments on your defaulted loan before applying for consolidation.

I recently took out a debt consolidation loan to pay off my credit cards and have just the one bill – however, the loan didn’t quite cover my credit cards… I also opened two new balance transfer 0% credit cards to help cut the interest of the leftover credit card debt… I still don’t quite have enough to wipe it all into 3 bills – plus, I have a previous personal loan I have 2 more years of paying… what would be the best way to distribute these funds, and balance transfers… so that I’m cutting my interest payments, upping my cashflow so that I’m not
Certain credit cards and other financial products mentioned in this and other articles on Credit.com News & Advice may also be offered through Credit.com product pages, and Credit.com will be compensated if our users apply for and ultimately sign up for any of these cards or products. However, this relationship does not result in any preferential editorial treatment.
Just because you have a poor credit history doesn’t mean you can’t get credit. Creditors set their own standards, and not all look at your credit history the same way. Some may look only at recent years to evaluate you for credit, and they may give you credit if your bill-paying history has improved. It may be worthwhile to contact creditors informally to discuss their credit standards.
When weighing whether borrowing from your workplace retirement plan makes sense, keep in mind that if you leave your job—voluntarily or not—you typically must repay a loan within 60 days. If you don't get it paid off in time, the loan morphs into a withdrawal, and that can end up costing you plenty. If you are under 55 you will owe a 10% early withdrawal penalty, and a withdrawal from a traditional 401(k) account will also be taxed at your ordinary income tax rate.

Once you complete a plan to repay your debt, you should also complete a thorough review of your credit report. Creditor should automatically inform the credit bureaus that your account is paid or current. However, mistakes and errors happen frequently, particularly following a period of financial hardship. That means it’s up to you to make sure your credit report is up to date and that old errors aren’t hanging around.


The next option is to ignore your debt. Collection accounts fall off your credit report after seven years. At that point, the delinquency stops affecting your credit. The catch? Your credit suffers tremendously in the meantime, and since you’re still legally obligated to pay the debt, a debt collector can pursue you until the statute of limitations runs out in the state where you live.
I came across Brandon's credit repair Video on you tube, and by far was the best and most inspirational one that I've came across. I purchased his Ebook, and was very easy to understand and follow. I submitted a total of 6 letters, 3 for me and 3 for my boyfriend. It's been a little over a month and we have both seen a difference in our credit score. His more then mine, and we are both going to send round 2 letters in a couple of days. His score went up 95 points with the 1st round of letters. We are so happy! And to make things even better, every time I had a question I would just email Brandon and he would respond literally within 15min or less. He is very reliable to answer any questions. thank you Brandon! Honestly this is helping us so much.

The best way to improve your score is to have good behavior reported every single month. For example, you can take out a secured credit card and use it monthly. Charge no more than 10% of the available credit limit, and pay the balance in full and on time every month. Your credit score will improve as your negative information ages and your credit report fills with positive information.
Following the 2007-2008 implosion of the housing market, banks saw mortgage borrowers defaulting at higher rates than ever before. In addition to higher mortgage default rates, the market downturn led to higher default rates across all types of consumer loans. To maintain profitability banks began tightening lending practices. More stringent lending standards made it tough for anyone with poor credit to get a loan at a reasonable rate. Although banks have loosened lending somewhat in the last two years, people with subprime credit will continue to struggle to get loans. In June 2017, banks rejected 81.4% of all credit applications from people with Equifax Risk Scores below 680. By contrast, banks rejected 9.11% of credit applications from those with credit scores above 760.22

Hello. I just wanted to pass along some praise. We recently acquired a loan from LightStream for the purpose of consolidating our high-interest credit card debt. We are absolutely thrilled with how quick and easy the entire process was. The communication was wonderful, as well. We got a fantastic rate and we couldn't be happier! Thank you so very much!
Make no mistake: if you want help with your debt, you should get it. Don't let social stigma or ego get in the way—there are plenty of ways to get on the right track that go further than blog posts and stop short of putting you back in debt to someone else. Debt repayment and credit counseling programs can negotiate lower interest rates on your behalf, or help you do it yourself. They can help you with your budget, and help you plan a route out of debt that turns your credit into a tool you control, as opposed to a monster than controls you. If you need the help, get it—and definitely do that before you take out a loan. Photo by Media Bakery13 (Shutterstock).
Credit repair can take some time. The process of disputing reporting errors with the credit bureaus is almost always a drawn out business, often requiring repeated efforts. And the task of rebuilding credit can take several months before new accounts are reporting and seasoned enough to create the credit repair benefit desired. On the other hand, there are some actions you can take to accelerate your credit repair progress dramatically.
Credit repair success requires a universal perspective. You cannot afford to become myopic. Many people become so interested in monitoring the removal of derogatory items (which, admittedly, can be very exciting) that they ignore other major opportunities to boost their credit scores. Did you know that a single maxed-out credit card can depress your credit scores by over one hundred points? Conversely, paying your balances down can create an equal and opposite effect of increasing your scores by that amount. Pay your balances down and watch your scores take off. You should allow sixty days for the creditors to update the balances with the bureaus.

Your credit score partly depends on your credit utilization – the amount of debt you carry as compared to the total amount of debt available to you. If all of your credit cards are maxed out, opening a new one increases your available debt and causes your utilization ratio to go down, and that could help your score. But your score will take a ding any time you carry a high balance on any one card. So if you transfer multiple balances to a single card and get close to (or reach) your credit limit, your score will suffer even if your other cards are paid off.


Hello. I just wanted to pass along some praise. We recently acquired a loan from LightStream for the purpose of consolidating our high-interest credit card debt. We are absolutely thrilled with how quick and easy the entire process was. The communication was wonderful, as well. We got a fantastic rate and we couldn't be happier! Thank you so very much!
I know this post is nearly three years old but I was desperately trying to figure out how to raise my credit score a little faster than usual. I would just like to say that everything he posted I tried and it worked for me. I have raised my score 50 points in just one month! I still have a long way to go, but now that I know what to do, I see it only going up from here.
2. First Premier – The bank claims to want to offer people a second chance when it comes to their finances, but its fee structure and fine print prove the exact opposite. First Premier charges you a $95 processing fee just to apply for a credit card. Then it levies a $75 annual fee on the credit cards and most cards only come with a $300 limit. You’re paying $170 for a $300 credit line! The APR is a painful 36%. In year two the annual fee reduces to $45, but then you’re charged a monthly servicing fee of $6.25. And to top it all off, you’ll be charged a 25% fee if your credit limit is increased. Stay away from this card! Use the $170 it would take to open the card and get a secured card instead.
Checking your credit report on a periodic basis, at least annually, is a good way to catch any instances where you might be the target of identity theft – or the credit bureau has accidentally mixed up your history with someone of a similar (it happens more than you'd think). If you are concerned about others accessing your credit report without your permission, you can freeze it, which will limit who can access the information and under what circumstances. If you think you are a victim of identity theft, contact your local law enforcement authority immediately.

We made the following tips as practical as possible to give you both the structure of a plan and a clue about how to actually stick to it. Knowing what to do and actually doing it are two very different things, after all. We also explored how long the hands of time will have to turn before you can put bad credit behind you, hopefully once and for all.
Yes I have successfully used a credit repair company named Reliant Credit Repair. They didnt just offer credit repair services they do so much more than wiping your credit slate clean. They really take the time to help you fix your credit, rebuild it by recommending the best financial products for you, and have so many affiliates they can refer you to in order to achieve your financial goals. They stand behind their word when they say they are reliable and transparent. I cant thank them enough for helping me, its easy to find a credit repair company to work on your credit but finding someone like Reliant Credit Repair who turly cares and helps you see out your financial goals is rare. I would highly recommend them
Anyone can join First Tech Federal Credit Union by becoming a member of the Financial Fitness Association for $8, or the Computer History Museum for $15. You can apply for the card without joining first. The intro 0% for 12 months and no transfer fee on balances transferred within first 90 days of account opening is for the Choice Rewards World MasterCard® from First Tech FCU. After the intro period, an APR of 11.74%-18.00% variable applies. You also Earn 20,000 Rewards Points when you spend $3,000 in your first two months.
Still, even if the math of a debt consolidation loan works out in your favor, your behavior may be the real problem. Paying off all of your credit cards and debts with a loan only shuffles the deck chairs around—you still owe money you have to pay, and if you go charging up those freshly paid-off credit cards again, those deck chairs may as well be on the Titanic.
The Fair Debt Collection Practices Act (FDCPA), a federal law that was passed in 1978, provides guidelines on the actions that debt collectors can take when they try to get consumers to make payments on their debts. It prohibits abusive, deceptive or unfair practices and puts limits on when and how third-party debt collectors can contact people who owe money.
Just wanted to say our loan experience with you has been fantastic! The process was by far the easiest and close to the quickest loan process I have ever gone through. We had very good credit before but now it’s "exceptional" according to FICO and I think the changes we made by consolidating debt using LightStream made all the difference. I rarely write things like this but really have been amazed and thrilled with your company. It actually feels unbelievable; not sure how you all did it but somehow you designed an incredible experience and I look forward to borrowing from you again.
How it works: Once you choose the secured card you prefer, you’ll open an account under your child’s name. If your teen is approved, the bank will ask for a security deposit. Most secured cards require deposits of at least $200, but there are secured cards with security deposits as low as $49. That deposit typically becomes their line of credit. For example, if the minimum security deposit is $200, the line of credit will also be $200.

With credit consolidation, you take out a new loan and use it to pay off smaller loans. Because you now only have one loan, you have one monthly payment. However, taking out a big loan can be tricky. If your credit score is not high, you may not qualify for a consolidation loan. If you do qualify, you may not qualify for competitive interest rates. Additionally, whenever you take out a new loan, there are loan origination fees which can run into the thousands. Finally, if you are able to secure a debt consolidation loan with a low monthly payment, it may be at the expense of the repayment period: you may be paying the loan for a decade or longer.
If you have missed multiple payments, perhaps its time to set-up payment reminders. In the digital age, you can schedule your cell-phone, laptop, and even email to remind you when a payment is due. On top of this, you can purchase sticky notes and post them around your entire home or office to remind yourself when a specific bill is due. In a lenders eyes, there should not be an excused for a missed payment. Just like the example of lending money to your friend, a lender is expecting to receive their capital back in a timely manner.
If you don’t pay a medical bill or a cell phone bill, your account may be referred to a collection agency. Once it is with an agency, they can register that debt with the credit bureau, which can have a big negative impact on your score. Most negative information will stay on your credit bureau for 7 years. Positive information will stay on your credit bureau forever, so long as you keep the account open. If you close an account with positive information, then it will typically stay on your report for about 10 years, until that account completely disappears from your credit bureau and score. If you don’t use your credit card (and therefore no payment is due), your score will not improve. You have to use credit in order to get a good score.

If you have missed payments, get current and stay current: the longer you pay your bills on time after being late, the more your FICO Scores should increase. Older credit problems count for less, so poor credit performance won't haunt you forever. The impact of past credit problems on your FICO Scores fades as time passes and as recent good payment patterns show up on your credit report. And good FICO Scores weigh any credit problems against the positive information that says you're managing your credit well.
If you're living with bad credit, this probably isn't the news you want to hear. The good news, however, is that there are several things you can do right now that will start to improve you credit score. Just keep in mind that there are no magic fixes in the credit world. Credit repair done right takes patience, persistence, and an understanding of how your credit score is calculated. Here are a few ways you can start repairing the damage to your credit score:
Those with poor credit or no credit can obtain a low credit limit secured credit card (by putting up a security deposit). This is reported to the credit bureaus as a regular credit card and allows you to build a positive payment history quickly. Eventually, the credit card company (and others) will offer you a higher traditional credit limit without the security.
Are you thinking that the best way to improve your credit score is through transferring balances multiple times? If you, this tactic will leave you in more debt and a lower credit score. There are numerous fees and rates that vary across companies, all of which are counterproductive. Your path to fast credit repair should include minimal, if any, balance transfers.

With Chase Slate® you can save with a 0% Intro APR on Balance Transfers for 15 months and a balance transfer fee that’s Intro $0 on transfers made within 60 days of account opening. After that: Either $5 or 5%, whichever is greater.  There’s also a 0% Intro APR on Purchases for 15 months. After the intro periods end, a 16.74% - 25.49% Variable APR applies. This card also has a $0 annual fee. Plus, you can see monthly updates to your FICO® Score and the reasons behind your score for free.


You're also entitled to a free credit report if you've been turned down for credit because of something on your credit report, if you're currently receiving government assistance, if you're unemployed and planning to look for a job soon, or if you think you've been a victim of credit card fraud or identity theft. Some states even have laws that let you get an additional free credit report each year. All these free credit reports should be ordered directly through the credit bureaus.
Shopping for a private student loan, comparing the pros and cons of different lenders, and submitting multiple applications so you can accept the loan with the best terms is generally a good idea. Hard inquiries usually only have a small impact on credit scores, and scores often return to their pre-inquiry level within a few months, as long as no new negative information winds up on your credit reports.
Loan repayment is expected to be funded by your income, so lenders want to verify your ability to hold a job. Some will dig deeper into your employment history than others. In many cases, a steady employment history will be enough, but some financial institutions prefer applicants who have worked for the same company for several years or at least have a long track record in their current industry.
The testimonials and results provided, although exciting, are provided for illustrative purposes only and are not typical, your results will vary. We promise only to perform the work agreed to in the terms and conditions of our retainer agreement with you, the client, and to charge each month only for work already completely performed. As with any legal services, no specific outcome is promised or guaranteed. The services of YourCreditAttorney.com, backed by Centurion Law Firm may not be available in all states. No guarantee of, nor representation that YOUR credit score will increase is made by these illustrative past results, your credit can only be improved in accordance with federal laws requiring the information on your credit report not be inaccurate, unverifiable nor misleading. YOUR RESULTS WILL VARY.

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Looking for a balance transfer credit card to help pay down your debt more quickly? We’re constantly checking for new offers and have selected the best deals from our database of over 3,000 credit cards. This guide will show you the longest offers with the lowest rates, and help you manage the transfer responsibly. It will also help you understand whether you should be considering a transfer at all.
Despite anyone's diligence in managing their money wisely, sometimes financial hardships happen because of a job loss, medical condition, divorce, or other life events. If you have problems making ends meet, contact your creditors or a legitimate non-profit agency that specializes in credit counseling services for assistance. Do this as soon as possible to see how consolidated debt can help relieve the burden of financial stresses. The longer you wait, the more challenges you'll encounter. Consolidating debt is often your best alternative in these situations, and a counselor can help you with the process.
The credit industry is built on the idea of trust between a lender and a borrower. As we mentioned above, thousands upon thousands of people truly have no idea how the credit industry function. Considering this, before we dive into learning how to repair credit fast, we are going to share some pertinent information that will be useful for fast credit repair. For a metaphorical example, let’s say you have a friend who is seeking to borrow $500 to purchase some new electronic that was recently released. Before you lend your friend the money, you develop a payment date, this way you can anticipate a return of your capital. Once you agree upon a specified date, you trust that your friend will return the money on time. However, when that friend does not return the money on time, it can be frustrating and stressful, causing lenders to charge fees, known as interest rates, to motivate the individual to fulfill their end of the bargain. This is precisely how the credit industry functions – but on a much larger scale.
If following the steps above seems daunting, some organizations specialize in paid credit repair services. Most of the services require a monthly subscription fee between $60-$100 per month, and most reviews report that the negative items are completely removed within 3-5 months. Despite the high cost, legitimate companies provide a valuable service if you’ve been the victim of identity theft and you want someone else to do the work for you.
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