You need to show you can handle credit wisely, so having occasional balances on your credit cards can be a good thing. But in general, when you use your credit cards, try to pay them off as soon as you can (you don't have to wait for the statement in the mail but can pay online anytime). In fact, you can make your record look better than it is by making your payments just before your statement is sent, rather than waiting until you receive it. Most credit card companies report your balance at the same time that they mail your bill. If, for example, your statement goes out on the 15th of the month, pay your bill early (let’s say by the 13th) so the money will arrive prior to the statement being sent out. That way your outstanding credit balance reported to the credit bureaus will be lower.

Generally speaking, Chapter 13 is designed for debtors who have assets that they want to keep while still declaring bankruptcy. But, as noted above, the value of certain nonexempt assets or those used to secure debts listed in the bankruptcy may be added to the overall payment. The debtor can decide whether to then liquidate those assets or find other ways to pay off their value.
While it seems to make sense to pay off all of your old delinquent debts, this strategy can sometimes backfire and drop your score further. If a credit account is simply overdue and shows as outstanding debt, paying it off will improve your score – though it won't eradicate the record of late payments. But if you have an old debt on your credit report that has been charged off by the lender – meaning that they do not expect further payments – setting up a new payment plan can re-activate the debt and make it appear to be more current than it actually is. This is often the case with debt that has been turned over to a collection agency. The agency may register the debt with credit bureaus as new rather than reporting it against the written-off debt.
“If [a filer] falls behind, then the trustee files a motion to dismiss, which [the filer] would either allow or explain to the judge what happened, and [their] plan for getting back current,” Albaugh said. Without a plan to get back on track, Albaugh said a homeowner could be facing some trouble. “If you were using [Chapter 13] to get caught up on a house, then the foreclosure process starts back up again and you lose that bankruptcy protection,” he said.
I have had my identity stolen and when I became aware of this I was almost 7,000.00 in DEBT, so after getting many letters from the credit card companies that I did not apply for these cards and my information was stolen.  Along with a Police Report I  typed many letters and got the cards  removed from my credit report But, As this happened I watched my credit score go DOWN VERY QUICKLY, I was shocked I was the victim and my credit score just kept going down, down, down. Now I have POOR credit I did obtain 3 credit cards and always pay the card off monthly, Does this help me by paying them off every month or not?? But just a note KEEP YOUR INFORMATION THAT IS PRIVATE, PRIVATE IN A SAFE!! THE PERSON WHO DID THIS WAS MY X PARTNER OF 17 YEARS.    
While your credit score may suffer if you’re falling behind on monthly payments before you get your debt management plan set up, starting your plan should provide some relief. Your credit score should increase as you begin making regular monthly payments and your debt balances drop. Experian does note that you may see some negative side effects when accounts are closed, usually due to changes with your credit utilization rate or credit mix.
I have approximate $15,000 in high interest credit card debt and just spinning my wheels making minimum monthly payments. My credit is borderline fair/good. Would credit counseling help me pay this off quicker?? I just recently leased a brand new car for 3 years and when the time comes to trade it in or finance it and keep it I want my credit to be okay to do so. What do you recommend for me??
The Affinity Secured Visa® Credit Card requires cardholders to join the Affinity FCU. You may qualify through participating organizations, but if you don’t, anyone can join the New Jersey Coalition for Financial Education by making a $5 donation when you fill out your online application. This card has an 12.35% Variable APR, which is one of the lowest rates available for a no annual fee secured card and is nearly half the amount major issuers charge. This is a good rate if you may carry a balance — but try to pay each statement in full.
Credit scores are calculated from your credit report, which is a record of your credit activity that includes the status of your credit accounts and your history of loan payments. Many financial institutions use credit scores to determine whether an applicant can get a mortgage, auto loan, credit card or other type of credit as well as the interest rate and terms of the credit. Applicants with higher credit scores, which indicate a better credit history, typically qualify for larger loans with lower interest rates and better terms.
"I then added her to 3 of my credit cards as an authorized user. I choose the oldest with high credit limits.(I did not give her the cards to use-only added her as an authorized user for my own protection) BEFORE being added as an authorized user be SURE you know the credit history and habits of the owner of the account. If there is a late payment on their account this will be reflected on YOUR credit history!"
Lenders usually look at your credit score for both a debt consolidation loan and a home equity loan. However, sometimes lenders can be more lenient with debt consolidation loans in terms of your credit score; oftentimes, borrowers can have less than stellar credit and still be approved for a personal loan or debt consolidation loan. However, those with excellent credit will be more likely to obtain lower interest rates with debt consolidation loans than those who have fair to poor credit.
There are a lot of myths out there about credit scoring – hopefully we can help you understand FICO scoring, so you can take action to build your score. There are five major components FICO uses to determine a credit score. Fortunately, understanding the secret sauce can help you build a strong score and healthy credit report. Both a 700+ score and healthy credit report will help keep the rest of your financial life cheaper by enabling you to get lower interest rates on loans and approved for top-tier financial products.

Lenders will look at your income and current debts, such as credit cards, current mortgage, and student loans, to determine whether you’re able to take out a home equity loan. Lenders want to ensure you can pay back your debt so if you already have a substantial amount, you may not be an ideal candidate. Burkley said borrowers should have around a 40% to 45% debt-to-income ratio to qualify for a home equity loan.
Credit repair can involve fixing your bad credit in any way, shape or form, but when most people use the term ‘credit repair’, they’re referring to the process of disputing errors on credit reports. You can go through this dispute process for free with each of the credit bureaus on your own. This involves filing a formal dispute with the credit bureau(s) in question either online or via snail mail.

If you have a high balance on a credit card and are only making minimum payments, start paying down the balance. It's important to pay down (or even better, pay off) revolving accounts such as credit cards. This will lower your credit-to-debt ratio (what you have borrowed in relation to what you could borrow), and is one way to improve your credit score. Paying off installment loans such as auto loans, student loans, etc. won't improve your credit score as dramatically.
The first step and tip that we can offer anyone interest in fast credit repair is to look at their credit report. This single document contains so much information that it’s quite easy for there to be minor mistakes, and even major mistakes. With that being said, take the time to receive your annual free copy of your credit report and analyze the entire document. Look at your address, previous loans, and even inquiries to see if everything is truthful. When it comes to inquiries, they should not be posted for more than two years. If there are any inquiries longer than this, they should be removed. In any case, if there are any discrepancies, credit holders have the power to file a claim to remove the falsified information. In many cases, through doing this, it can significantly improve your credit score.
One of the sneaky-quick ways to increase your score is to add yourself as an authorized user on someone else’s. According to FICO, 35% of your score is based on your history of on-time payments, so when you become an authorized user on a friend or family member’s credit card, car loan, or installment loan, etc. you automatically “assume” the same positive history of payments on your credit report. Viola! Your score will go up as well. You do need to make sure the lender registers your social security number and will start reporting the change, and it can take 30 days to reflect on your own credit report (unless you do a Rapid Rescore—see below). But becoming an authorized user is a fantastic way to benefit from a great payment history that’s not even yours.
You need to review, in detail, your credit report from all three credit reporting agencies. You can use AnnualCreditReport.com to obtain your report for free. As you review the report, keep track of any information that you believe is incorrect. Credit scores are built using data from the credit bureaus, so it is important to ensure the data at Experian, Equifax and TransUnion is accurate.
Credit reports typically have a space for you to provide your comments at the bottom: explaining why a particular debt hasn't been paid or to point out any factual errors. While this is another area of recourse, with the credit bureaus you're seen as guilty until proven innocent, and the burden's on you to correct things. When you write to the credit bureau, be sure to send copies (not the originals) of any proof that can be used. 

Carefully review older debt that shows as charged-off. Before contacting the creditor or collection agency, check your state laws to see if the debt is statute-barred or time-barred, meaning that it is too old for creditors to attempt further collection. If it is not statute-barred, even contacting the creditor can re-instate the debt as currently collectible, which can drop your score.
“Credit repair leverages your legal right to three standards: Credit reports must be 100% accurate, entirely fair, and fully substantiated,” Padawer said. “Too many lesser credit repair companies skip over those last two standards — which involve communicating with your creditors — in favor of depending upon simple credit bureau disputes by themselves.”
I applied at my bank and at a credit union and both declined me. My credit score was provided with a fair rating but then the reason was that the amount of debt between us was too high, roughly 10k. Therefore they wanted to see more effort put in first. We were told to reapply again in a few months time when we had that under control. My payments were always on time and so I dont know how I am suppose to show effort if that amount of debt is always going to be the same due to interest. Hope that made sense.
If the debt is due to drop off of your report in the next several months because it is almost seven years old, consider waiting until then to pay it, as it will have no affect on your score once it disappear. If the debt shows as written off but will still show on your credit report for longer than a few months, collect all of the funds together to completely pay it off before making contact with the lender. That way, you will potentially re-activate the debt but will also show payment in full, which will minimize the damage to your score.
The key to this strategy is obtaining more credit, but not using more credit. In other words, if your limit goes up $1,000, don’t go out and charge half of it. Think of the boost as a way to save money later when you apply for an auto loan, home loan or another form of long-term debt where a high credit score will likely result in big savings via a lower interest rate.
Another avenue to pursue to improve your credit score as quickly as possible is to negotiate with your creditor and credit bureaus to see if they are will to make adjustments. This can be especially effective if you have established a current strong payment record. In that case, a creditor can often be persuaded to remove previously reported late payments as a “goodwill” gesture based on your current payment history, and to encourage you to maintain the course.
If I shop around for a balance transfer credit card, my score will get crushed: FALSE! If your score does decline, it probably will not decline by much. You can expect 10-20 points per credit application. But, remember: you apply for a balance transfer to help reduce your balance faster. When you open a new credit card and transfer your balance, then you will be able to:
This is a great company to work with. Friendly staff and very helpful. I provided them with my filled out form, and they were able to analyze my credit score. They provided sound advice and I was able to raise my score with a few tweaks. Gave their # to a couple of friends that I have heard had great success as well. Talk to the experts at Quick and Easy! They will help make you look good.

The key to debt consolidation is to avoid taking on new debt. If you borrow money, pay off your credit cards and then charge them back up again, you’re in worse shape than ever. If there is any chance that you might do this, or if you find yourself doing it after you obtain the consolidation loan, stop using the cards and just close the accounts. Your credit score will suffer, but your finances will thrive. Your score will come back up over time, and by then you’ll have learned valuable lessons about racking up too much debt.


The Discover it® Secured isn’t like most secured cards — it offers a cashback program and a simple transition to an unsecured card. Starting at eight months from account opening, Discover will conduct automatic monthly account reviews to see if your security deposit can be returned while you still use your card. Unlike most secured cards that lack rewards, this card offers 2% cash back at restaurants and gas stations on up to $1,000 in combined purchases each quarter. Plus, 1% cash back on all your other purchases. And, Discover will match ALL the cash back you’ve earned at the end of your first year, automatically. There’s no signing up. And no limit to how much is matched. This is a great added perk while you work on building credit.
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 need to show you can handle credit wisely, so having occasional balances on your credit cards can be a good thing. But in general, when you use your credit cards, try to pay them off as soon as you can (you don't have to wait for the statement in the mail but can pay online anytime). In fact, you can make your record look better than it is by making your payments just before your statement is sent, rather than waiting until you receive it. Most credit card companies report your balance at the same time that they mail your bill. If, for example, your statement goes out on the 15th of the month, pay your bill early (let’s say by the 13th) so the money will arrive prior to the statement being sent out. That way your outstanding credit balance reported to the credit bureaus will be lower.
Yes, consistancy of paying bills on time is critical to your score, and having available credit and not using more than 30% on each credit card shows responsibility..ive sat down amd talked to somebody who specializes in credit and credit repar, a legit professiinal..dont get more than 2 or 3 secured credit cards, dint spend more than 30% on each one and whatever you spend pay off right away..a vehicle loan can help some to..jyst live within your means and be responsible and your score will climb.there is no overnight fix, you just have to build cr3dit history, everybody does..640 is bottom line score a top banker told ke, 680 is much better, and 720 is much more easy to work with, 750 or higher is pretty good shape and you will get better offers..i was younger and made key mistakes and economy recession hurt a lot..but get back on the horse and get grinding away to bring your score back up..lifes much more easy being able to get loans for a home, car, whatever..im planning on buying a home in 2017 ..but no rush because i wanna really do my best on doimg my home work and educating myself on making the very best deal on a home..
In general, you should try to keep credit card balances low. When you consolidate the cards you’re consolidating will have much lower credit utilization ratios, but your overall ratio will remain the same. However, the lower interest rate you’re paying during the introductory period means you can pay more toward your balance each month, helping lower your overall credit utilization more quickly.
Common ways to consolidate credit card debt include moving all your credit card debt onto one card, or taking out a loan to pay off the balances. In addition to reducing stress, when you consolidate, you may be able to score a lower interest rate. That can make it easier to pay off the debt faster, which is one important factor that can help improve your credit scores.
Because MidSouth Community is a federal credit union, you need to be a member to qualify for this card. Membership is limited to people who work, live, worship, or attend school in the following Middle Georgia counties: Bibb, Baldwin, Crawford, Hancock, Houston, Jones, Monroe, Peach, Pulaski, Putnam, Twiggs, Washington, and Wilkinson. If you qualify, you may be able to get a secured card with an APR as low as 10.90% Variable.
Balance transfer deals can be hard to come by if your credit isn’t great. But some banks are more open to it than others, and Aspire Credit Union is one of them, saying ‘fair’ or ‘good’ credit is needed for this card. Anyone can join Aspire, but if you’re looking for a longer deal you also might want to check if you’re pre-qualified for deals from other banks, without a hit to your credit score, using the list of options here.
Before we jump into specifically learn how to repair credit fast, the last area that we would like to discuss is the importance of your credit report for fast credit repair. As you will learn in the following section, your credit report plays a major role in your credit score. The stronger your credit report is, the higher your credit score will be. In many cases, people notice fast credit repair simply by taking the time to learn about their credit report and fixing any mistakes that they may find. With that being said, we would like to say that, the first step of fast credit repair always begins with your credit report. Reason being, given the way the credit system works today, many lenders are beginning to look deeper into one’s credit report, deeming it more valuable than 3 simple numbers. Consider this, your credit report includes some of the most pertinent information regarding your financial history, including:
Some folks swear by setting automatic payments using their bank’s online bill-paying system or their creditor’s automatic-payment system. If you prefer more control, at least sign up for automatic payment alerts from your lender, via email or text. Then set up a place in your house where you always pay bills, and get an accordion file that enables you to arrange the statements by due dates. Be sure to time your payment so the check or electronic funds transfer will arrive on time.
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.
It depends, some credit card companies may allow you to transfer debt from any credit card, regardless of who owns it. Though, they may require you to first add that person as an authorized user to transfer the debt. Just remember that once the debt is transferred, it becomes your legal liability. You can call the credit card company prior to applying for a card to check if you’re able to transfer debt from an account where you are not the primary account holder.

The first step and tip that we can offer anyone interest in fast credit repair is to look at their credit report. This single document contains so much information that it’s quite easy for there to be minor mistakes, and even major mistakes. With that being said, take the time to receive your annual free copy of your credit report and analyze the entire document. Look at your address, previous loans, and even inquiries to see if everything is truthful. When it comes to inquiries, they should not be posted for more than two years. If there are any inquiries longer than this, they should be removed. In any case, if there are any discrepancies, credit holders have the power to file a claim to remove the falsified information. In many cases, through doing this, it can significantly improve your credit score.
Don’t try to transfer debt between two cards of the same bank. It won’t work. Balance transfer deals are meant to ‘steal’ your balance from a competing bank, not lower your rate from the same bank. So if you have a Chase Freedom® with a high rate, don’t apply for another Chase card like a Chase Slate® and expect you can transfer the balance. Apply for one from another bank.
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An easier way to pay: If you have debt across multiple credit cards, you might find managing all of the accounts painful. With a consolidation loan, you only have to make one payment. However, this benefit is often over-sold. The APR is still the most important consideration, and you should avoid paying a higher interest rate for the convenience of consolidation.
* Our low monthly retainer of $29 per month is charged in accordance with all applicable laws for all services performed in the preceding month. Upon retaining our services there is an industry low one time file intake fee of, for a VERY LIMITED TIME ONLY - $29, which covers the costs associated with providing access to setting up your files in our systems and providing access to our exclusive Client Central area containing educational material regarding your credit and credit matters.
Some of your creditors and lenders might report only to one of the credit bureaus. And, since credit bureaus don’t typically share information, it’s possible to have different information on each of your reports. Ordering all three reports will give you a complete view of your credit history and let you repair your credit at all three bureaus instead of just one. 
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.
Check what your monthly payment on a debt consolidation loan would be. Are you at least paying that much towards your credit cards now? If the loan payment is more than you pay towards your debts (and it fits into your budget), it might be time to up the ante and just put more money to your credit cards. If the loan payment is less than you pay to your cards, you'll likely wind up paying way more interest over time, since your loan term will probably be long.
I have about $10-11,000 in credit card debt. I am thinking about consolidating, however, after doing some research I’m not sure I want to go that route. I have a good creadit score and I do not want to hurt my credit score by having to close accounts, etc. However, I feel like I can’t make any progress with my credit cards due to interest, and I’m trying to avoid opening anymore credit cards that would have low or no interest. I’ve thought about taking out a bank loan to pay my credit cards off. Does this seem like it would be the best option for me? Do you suggest any other options?

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.
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
Negative credit information is any action that causes creditors to consider you a riskier borrower. It includes late payments, accounts in collections, foreclosures, bankruptcy, and tax liens. Once negative credit information is introduced into your credit history, you cannot remove it on your own. However, time heals all wounds. The longer it’s been since the negative information was introduced, the less it will affect your credit score. In time, negative information falls off your credit history.
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