Author Archives: Damon

How a Foreclosure Affects your Credit History and Credit Score

Wondering How a Foreclosure Affects your Credit History and Credit Score?

How a Foreclosure Affects your Credit History and Credit Score

How a Foreclosure Affects your Credit History and Credit Score

Foreclosed on your home and wondering how it affects your credit worthiness? Lets walk
through it together. How a foreclosure affects your credit history may vary based on your
specific circumstances and how you manage your credit following the foreclosure.The
foreclosure typically stays on your credit report for up to seven years from the date
filed. Initially, a foreclosure may cause your credit score to drop more than 200 points.
The exact figure will vary based on other aspects of your credit history. This drop
may make it difficult to obtain any loans or credit right after the foreclosure. However,
if you continue to pay your other accounts and debts in a timely fashion, you may not
have to wait a full seven years to successfully apply for a new mortgage or installment loan.
There are many factors for the creditor to consider during the application process. Many
mortgage companies won’t approve a new mortgage for you for at least two years following a
foreclosure, but that is not a hard and fast rule. If you have a hefty down payment and
a low debt-to-income ratio, you may be more likely to get an underwriter approval. So
what happens after seven years? After seven years, make sure to check your credit report.
The law generally requires credit reporting bureaus to remove the foreclosure from your
record after seven years. Having this removed may not have an immediate affect on your credit
score, but it will no longer play a factor in the underwriting process.

We hope you found this article on how a foreclosure affects your credit history and credit score useful

The Warning Signs of a Bad Credit Repair Company

The Warning Signs of a Bad Credit Repair Company or Organization


The Warning Signs of a Bad Credit Repair Company.

The Warning Signs of a Bad Credit Repair Company.

If you should decide to respond to an offer to repair your credit – think twice.
Don’t do business with any company that
wants you to pay for credit repair services before any services are
does not tell you your legal rights and what you can do yourself for free,
recommends that you not contact a credit reporting company directly,
suggests that you try to invent a new credit report by applying for an
employer identification number to use instead of your social security number,
advises you to dispute all information in your credit report
or take any action that seems illegal
such as creating a new credit identity.
If you follow illegal advice and commit fraud, you
may be subject to prosecution,
You coulod be charged and prosecuted for mail or wire fraud
if you used the mail or telephone to apply for credit
and provide false information.
It’s a federal crime to make false statements on a loan
or credit application,
to misrepresent your social security number, and to obtain an employer identification
number from the Internal Revenue Service under false pretenses. is always available for any help or
explanations you may need with your credit report.

Call us today. 1-877-649-6322


Do I Need a Credit Repair Attorney to Repair My Credit?

Do I need a credit repair attorney to repair my credit?


When looking for credit repair, do you needa credit repair attorney or a credit repair company? Each year, thousands of consumers applications for credit, insurance,

Credit Repair Attorneys

Credit Repair Attorneys

home andauto loans are rejected due to bad creditor inaccurate information on their credit

reports. So, when looking for professional help to repair your credit, you might ask;

Do I need a credit repair attorney or law firm to repair my credit? The answer is,

probably not. A credit repair attorney and a professional credit repair company utilize
the same laws, they take much of the same procedures, and use much of the same methods
for repairing your credit. The actions and duties they undertake to repair your credit
are often identical. But, lets say you don’t pay your creditor on time and they decide
to take you to court in a lawsuit, most credit repair attorneys are not going to represent
you in court, but often consumers believe or assume they will simply because they hired
an attorney. So why would you pay a law firm a higher monthly fee, if you can get the same
result from an affordable credit repair company? When you evaluate and compare reputable credit
repair companies and law firms, you might ask;

Can I hire a professional credit repair
company, and expect the same or better results than  hiring a credit repair attorney?

The answer is, yes. Now you are comparing apples to apples, one companies service record against

the others, and one companies prices against the others – that is just smart shopping.
But often, people just assume that when they hire a credit repair attorney or a law firm,
they are getting some additional legal services or expertise. Unless your agreement specifically
states they will take additional legal actions at no additional cost, then you are simply
just paying a higher monthly fee for no additional services, and that’s just not very smart
– it means you are paying for the perception of expertise instead of paying for results.
It is good to work with a credit repair professional that has experience and expertise at an affordable
price – that too is just smart shopping. However, some companies and law firms claim
they have hundreds of thousands of clients. While that may sound like a valid point, the
question is not how many clients they have served, but what percentage of them remain
happy clients? Is there any way you can verify that they have had hundreds of thousands of
clients? No, of course not, so remember, just because they say it, or put it one their website
doesn’t mean that it’s true, nor does it mean the client got what they paid for.

credit repair attorney

credit repair attorney

There are some attorneys and law firms who specialize in specific legal issues that relate
to credit repair, or may include credit repair services. Issues such as identity theft, garnishment,
divorce, bankruptcy, unemployment, disabilityand accident injury cases can also have a
negative affect on your personal credit. Inwhich case, you should talk directly to the
attorney to discuss what legal actions wil lbe taken in addition to their normal services.

So how do you choose between a professional credit repair company and a credit repair

You should choose the company who,based on your interactions with them, leads
you to feel comfortable that they value your business, give you the attention you need,
and can do what they say they can do, without any exaggeration or mis-leading claims that
you can’t verify. It does not matter what they did for some other hundreds of thousands
of people, the only thing that matters is what they can do for you, and how well they
can do it, and if they are competitively priced.


What Is A Credit Report?

What is a Credit Report?

Whenever you apply for any type of credit or financing, a credit report is pulled from at least one of the three major credit bureaus. While there are hundreds of smaller credit bureaus around the country, virtually every credit bureau is affiliated with Trans Union, Experian, or Equifax. These credit bureaus collect and maintain information on the vast majority of Americans, but they are not affiliated with the government in any way. The credit bureaus are for-profit corporations that sell your personal information for money.

credit report

credit report

The credit bureaus receive your personal information through the same lenders who grant you credit. They have agreements with each of these credit grantors that require the credit grantor to inform the credit bureaus of everything that occurs in your relationship with the credit grantor. If you make a payment late, the negative credit listing is quickly reported to at least one of the three major credit bureaus and is added to your credit history.

Credit reports are not just a record of how you are currently managing your credit accounts. Credit reports are histories of everything you are doing with your credit now, and everything you have done in the past. The credit bureaus collect this information, list it on your credit report, and then sell it to credit grantors who wish to see your credit history before they decide to lend you money. The credit grantors who review your credit are especially interested in any negative credit. If you have shown any tendency to pay late, or to disregard your financial commitments in the past, then the creditors’ computers will immediately reject your application. Just like when you were in grade school, your credit report is your financial report card to the world. Learn More.

What Kind of Information Appears on the Credit Report?

Merchant Trade Lines These include all regular credit lines such as department store cards, auto loans, mortgages, and credit cards. If there is any history of late payment, or if the trade line was included in bankruptcy, charged off, or put into repossession, the listing will be considered negative by all credit grantors.

Collection Accounts When an account is referred to collections because of delinquency or because of a bad check, this appears on the credit report as a collection account. Collection accounts can appear as paid or unpaid accounts. Any type of collection account, whether paid or not, is considered very negative by all credit grantors.

credit reports

credit reports

Public Records Public records include bankruptcies, judgments, liens, satisfied judgments, and satisfied liens. All court records, including satisfactions, are considered negative by all credit grantors.

Inquiries Every time a potential credit grantor looks at your credit file, a credit inquiry appears on at least one of your credit bureau reports. If the number of inquiries is very few over the last two years, then there may be no negative effect on your credit worthiness. However, if there are many recent inquiries showing on your credit report, credit grantors may become nervous and deny you credit.

Learn More.

How Long Will Negative Information Stay on My Credit Report?

The Fair Credit Reporting Act (FCRA) requires that most negative credit items be deleted from your credit bureau file in no more than seven years, except for a Chapter 7 bankruptcy which can be reported for up to ten years. These are the time limits for reporting negative credit. The creditor or the credit bureau can choose to have the negative credit information deleted whenever they please. Inquiries may remain on the credit report for up to two years. Lexington Law is a professional credit repair company that can help you with this.

Can I See My Credit Report?

Most credit grantors are not allowed by the credit bureaus to show you your own credit report. But you can purchase your credit report from the credit bureau for a fee. Once you receive your credit report, you may find that you cannot read it because the information is listed in an unfamiliar code. Trans Union and Equifax credit reports are particularly difficult to interpret and understand. Experian credit reports, however, are relatively easy for most people to read. Your best bet would be to order a 3-in-1 combined bureau report since they are the easiest to read. To order one, visit

How Much Bad Credit Does it Take for Me to be Denied Credit?

As you may have already experienced, even one small late pay listing may result in credit denials. It is a myth that a large amount of positive credit can outweigh some negative credit. Any negative credit whatsoever can become a substantial credit obstacle. Learn More.

Who Looks at My Credit Report?

With the passing of each year, your credit report is used more and more often as a yardstick to measure your character. Prospective creditors will always review at least one of your credit reports before granting you credit. Today it is increasingly common for insurance companies to review your credit before extending auto or health insurance. Many employers now check credit before they consider you for a position. If you rent, you may have already been through a credit check to determine your worthiness as a renter. Learn More.

Top Ten Credit Repair Tips

Here’s a few simple credit repair tips to help you improve your credit history and credit

Credit Repair Tip #1

Reviewing your report at least every six months or more often will keep you
aware of changes that can hurt or help your credit rating and score.

Credit Repair Tip #2

Identify your
balance and credit limit for each of your accounts. Sometimes creditors will drop your
credit limit based on changes to your report data, or even changes in the economy or bank


credit repair tips

credit repair tips

Credit Repair Tip #3

Identify which accounts have reported you as being 30, 60 or 90 days late,
or have entered other data that can damage your rating.

Those are in our opinion, the top 3 credit repair tips, keep reading below to see how we rounded off the top ten.


Credit Repair Tip #4

Identify accounts that have
been closed by you, that do not show as closed.Any account, including accounts which were
never reported as late that show “Account closed by credit grantor” are interpreted
as a negative account, as it implies thatthe account was closed for some undisclosed

Credit Repair Tip #5

Scrutinize all personal data,including common variations of your name.
A person named Robert Jones, might also beknown as Bobby Jones, Bob Jones. Look for
variations of names that are not common or familiar to you.


Credit Repair Tip #6

If it doesn’t help you,
it hurts you. Often people believe that ahigh credit score is achieved by having numerous
accounts with numerous creditors – which oftenis not true, keep it simple and keep it trimmed
to a few good accounts.


credit repair tip

credit repair tip

Credit Repair Tip #7

There is no such thing as a positive account with a collection
agency, nor a positive public record. Third party collection accounts, judgments, liens
and bankruptcies are always negative, regardless if paid off or not. Paying off these accounts
does not change them from negative to positive.

Credit Repair Tip #8

If you think you have no credit, or no
credit history, think again. Many people believe that if they never applied for a credit card orphone company, the landlord, the utility company,student loan companies and employers all review your credit history to determine if you are who you say you are, and if you pay your debts on time.

Credit Repair Tip #9

Most cases of identity theft are discovered when they get a bill for things
they did not purchase, or loans they neverapplied for. Identity thieves are mostly people
who know the victim, such as a parent, child,friend or co-worker.

Credit Repair Tip #10

Use Responsible behavior
and make responsible purchases. Live within your means. Purchase only what you know you
can repay within the shortest time possible.Just because you are approved for a $50,000
car and can afford the $500 per month payment doesn’t mean the car is affordable. Once you
are done reviewing your credit report, Write a letter to the bureaus or creditors telling
them what information is inaccurate. Explain why you are disputing the item and request
that it be corrected or removed.

For further information on credit repair and credit repair tips, you can visit the #1 source on credit repair by clicking here


Is There Such a Thing as Legal Credit Repair?

Is There Such a Thing as Legal Credit Repair?

Do you think There is Such a Thing as Legal Credit Repair?Despite what some people believe about credit
repair, consumers have the legal right to repair their credit. The FCRA (Fair Credit
Reporting Act) allows and encourages you to question all information on your credit report;

legal credit repair

legal credit repair

particularly items you think are inaccurate,misleading, or outdated. Not only does the
legal credit repair process work for errors but can also help remove “unverifiable” negative,
yet accurate, information. Rest assured, this legal credit repair process is perfectly legal.
To help you become familiar with the laws,we will briefly describe them – and you will
see just how much protection is provided to you, the consumer.

Legal credit repair and
the Fair Credit Reporting Act: the FCRA is also designed to promote fairness and privacy
of information.

Credit bureaus are not allowed to distribute credit information to anyone
who does not have a legitimate purpose forviewing the information. Businesses that furnish
information to the bureaus are also regulated by the FCRA and must follow legal procedures
such as investigate disputes and ensure all information is complete, accurate, and current.
To knowingly list anything that is false in any way is in violation of the FCRA. To continue
listing information after it has been verified as inaccurate is also a violation. Legal credit
repair and the Fair Debt Collection PracticesAct: the FDCPA protects consumers from abusive
or deceptive practices committed by collection companies. Legal credit repair and the Fair
Credit Billing Act: the FCBA is an amendment to the Truth in Lending Act that requires
creditors to promptly respond, in writing,to consumer billing complaints and investigate
billing errors. Until the investigation iscomplete, creditors cannot do anything to
adversely affect a consumer’s credit standing.Legal credit repair and the Equal Credit Opportunity
Act: the ECOA protects the consumer against discrimination based on race, color, religion,
national origin, sex, marital status, age,etc. This act also states that creditors must
provide reasons why an applicant was denied credit, and allows spouse account information
to be identified separately. Legal credit repair and the Truth in Lending Act: the TILA
protects the consumer by mandating all creditorsto specify, in writing, terms of finance charges
and credit transactions. The act allows fora three-day cancellation on certain credit

Legal credit repair and the Gramm-Leach-Bliley Act: the GLBA requires
financial institutions to protect the privacy of consumer’s personal financial information.

Privacy policies must be distributed to the institution’s customers at a minimum of
once a year. The institution must also give the consumer notice and the opportunity to
“opt out” if personal financial information is disclosed to a non affiliated third party,
including unauthorized inquiries to your credit report data. You can go to the Federal Trade
Commission’s website FTC.GOV, and click on the consumer section for complete collection
of these laws. Remember, these laws allow you to question and initiate a legal investigation
of your credit information and repair it where necessary when information cannot be verified
– even though they don’t support you in providing false information or trying to cheat the system.
So the answer is YES, credit repair is legal

Selecting the Best Credit Repair Companies


Selecting The Best Credit Repair Companies

best credit repair companies

best credit repair companies

If you have decided that you don’t want to tackle your credit repair issues on your

own and that hiring a credit repair company would be in your best interest; you now need

to decide on who to go with.

Of all the companies out there, which one offers the best credit


It’s safe to say there is no one company that offers the best credit repair,

in fact there are several great companies who will do an impressive job for you.One

the other hand, there are several companies that are nothing more than scams. And somewhere

in the middle are companies who either make false promises, offer sub-standard service,

exaggerate results, tell half-truths, or ignorantly engage in illegal practices. How can you tell

the difference? Here are some of the things to look for to get the best credit repair

for your money.

The best credit repair companies offer great customer service.

Credit reports

can be very confusing and dealing with the bureaus can be frustrating. It’s nice to

have an advocate to help walk you through your credit repair process. You should be

able to speak with a customer service rep personally to have your questions and concerns

answered. The best credit repair companies have a good track record. The company should

have a solid and clean history. Pay attention to how long the company has been in business.

If the company has been involved in any lawsuits,that would be a matter of public record which

you’re free to research. A word of caution on relying on a Better Business Bureau rating;

it has recently been discovered that many A-rated companies, who had far more complaints

than C rated companies, got the higher rating because they paid the BBB big bucks for it.

So, those A+ companies didn’t necessaril yearn their A+ rating. The best credit repair

companies have a fair warranty and cancellation policy. You should be able to cancel services

at any time for any reason. The company should also offer some sort of refund for unsatisfactory


The best credit repair companies allow you to track your progress online.


company should have nothing to hide regarding your case. It is your right to monitor the

progress that has been made on your behalf. The best credit repair companies will offer comprehensive

services, including: • Working with creditors,when necessary, by sending Creditor Direct

letters • Disputing inquiries • Challenging discrepancies involving personal information

on your report • Assisting you in dealing with collection agencies • Assisting you

in building new positive credit • Repairing the damage done by identity theft • Don’t

Over-promise & Under-Deliver – The best credit repair companies are honest in their work

and realistic about results. The best credit repair companies will tell you that you shouldn’t

expect to see results until at least 90 days from the start of services. Significant improvement

typically takes up to a year, sometimes shorter,sometimes longer; depending on the condition

of your credit report. if you’re looking for the best credit repair company that will help you regain a hold of your bad credit situation, you can do so by Clicking Here

Credit Fix: Not Just for Those with Bad Credit


Credit Fix: Not Just for Those with Bad Credit

Your credit doesn’t necessarily have to be bad in order to need a credit fix. Even
if your credit is good, chances are there is something on your report that would benefit
from a credit fix.

A credit fix will only enhance your credit score, enabling you to
apply for credit and loans with the best rates and terms.

credit fix

credit fix

Step 1:

Order a copy of your credit
report from each of the three bureaus, Transunion,Equifax, and Experian (each bureau reports different information). You
can order each individually or order a three-in-one.(Your should do this at least twice a year

Step 2:

Review all of the information in your credit report carefully. Make sure
the following items are accurate: Your full name (and any previous names) Social security
number,Public records – lawsuits, liens,judgments, bankruptcies, etc. Credit history,
Employment history, Current and past marital status, Other Examples of things that may
need a credit fix: Incorrect account histories,such as late payments you have paid on time,
Accounts you know you never opened, Lawsuits you were not involved in, Liens you never
had, Liens that appear that were supposed to be listed as “included in bankruptcy”
Bankruptcies that are more than 10 years old,Negative information that is more than 7 years
old, Credit inquiries that are more than 2years old, No notation when you have disputed
an account, Closed accounts incorrectly listed as open.

credit fix

Step 3:

Write a letter to the bureaus
that states what information you believe to be inaccurate. Explain why you are disputing
the item and request that it be corrected or deleted. There are numerous examples of
credit dispute letters on the web that you can refer to or download. What the law requires

is Your dispute must be investigated within 30 days. Upon completion of the investigation,
the bureau must provide you with written copies of the results. If your dispute results in
a change, the bureaus must also provide a free copy of your report that shows the credit
fix. Once an item is corrected or deleted,it cannot be placed back on your report unless
it is later proven valid. The credit fix protocol seems simple, however; the bureaus can be
uncooperative by using a number of stall tactics intended to intimidate and frustrate you.
It is common, very common for a credit bureau to claim an item was “verified” when it
was not, and to stall your efforts by claiming it was. There are many ways to combat these
tactics. Learning them, however, can be daunting and time consuming. If it’s not exactly
accurate, dispute it and stick to it untilit’s resolved.

You may consider letting
those who are well seasoned in the credit repair industry do a credit fix for you and
in much less time.

How To Repair Your Credit Score


How To Repair Your Credit Score

In today’s economy it’s more important than ever to have a good credit score, but
millions of consumers simply don’t and all too often find themselves looking for tips
on how to repair their credit score. If you already have credit accounts credit cards
or loans, you will have a credit file and score with the 3 major credit bureaus(Experian,EquiFax and Transunion). The following
tips will help you know how to repair your credit score: Use credit, but be smart about

One vital tip on how to repair your credit score:

how to repair your credit score

how to repair your credit score

you need to use credit to build credit.
Make manageable purchases with your credit card and pay down the balance each month,
but don’t pay off your balance completely.So if you made a purchase of $500 and paid
it off 30 days later, it does not usually reflect that on your credit report, so do
something like that within a 60 to 90 day spread instead. Having a zero balance is good
to avoid interest charges but not in repairing your credit score. If a zero balance is reported
to the credit bureaus it appears as though you’re not using the account, which negatively
impacts your score. To improve your credit score, pay off all but $10-$50 of your balance.
This will show activity on your credit to help repair your credit score. Next, never
max out your card, even if you are able to pay off the full amount at the end of the
billing cycle. Keep your balance to below 30% of your available credit limit. Be meticulous
in this area as more than a third of your credit score is based on your credit utilization
ratio – which means how much of your available credit limit you’re using. Your credit report
shows two columns of data regarding this,your credit limit, and your high credit, or
in other words, the highest your balance has been on that account. Another useful pointer
on how to repair your credit score is to spreadout your debt. It’s better to have small balances
on several cards than a big balance on onecard. It’s also good to have wide gaps between

how to repair credit

how to repair credit

your balances and your limits, especiallyon revolving debt such as credit cards and
department stores. Although you’ll still be rewarded for paying down installment debt

like mortgages or auto loans, your scores improve much more dramatically when you pay
down revolving debt. Keep accounts open and active. Another vital tip on how to repair
your credit score is not to close any accounts.Each of your accounts has a history, and your
credit payment history represents 35% of your score. Another related tip on how to repair
your credit score is don’t let your creditor close it due to inactivity because it will
show on the credit report as ‘closed bycredit grantor’ which lowers your credit
score. Another important tip on how to repair your credit score is to have a healthy mix
of credit. Have at least one installment and two revolving accounts; after that be careful
about applying for new credit. Too much available credit can be perceived as dangerous by potential
lenders. You’ll also get dinged with more inquiries if you have a lot of accounts; and
every point counts when you are applying fora major loan. We hope these tips will help
you to repair your credit score.

Thank you for reading our article on how to repair your credit score, and good luck.

What Is Considered A Bad Credit Score?

What Is Considered A Bad Credit Score?

A bad credit score can wreak havoc in many areas

bad credit score

bad credit score

of your life. If you have a bad credit score you aren’t likely to qualify for new credit
or loans. Even if you don’t like using credit cards you will usually need one for things
like: reserving a hotel room, renting a car,setting up utilities, getting a cell phone
account an so forth. And a bad credit score not only interferes with you getting a loan
or a credit card it can also prevent you from: Getting a job. Many employers base their final decision
on the applicant’s credit report. The status of your credit report gives the employer an
idea of how dependable you are likely to be. Getting an apartment. Most landlords do credit
checks to see if potential tenants are financially responsible. Getting auto or home owners insurance.
Insurance brokers know that statistically more claims are filed by policy holders who
have poor credit. If you have poor credit,you will be charged a higher premium or denied

So what is considered a bad credit score in 2013?

Generally speaking, anything below

what is a bad credit score

what is a bad credit score

620 is a bad credit score. You are going to have a very difficult time getting anyone
to lend you money. If you happen to qualify for a loan, your interest rate could be as
high as 36%. And on the off-chance you get a credit card, your interest rate will be
in the mid to high 20% and you’ll most likely be charged a security deposit or high acquisition

fee. You will end up paying much more for purchases due to exorbitant interest and unnecessary
fees. You may also be charged more for insurance rates and some employers may even deny you
a job. A credit score between 620 and 680 is considered sub-prime; not necessarily bad,
but not good either. Here you are getting into dangerous territory and will likely pay
much higher interest rates, pay higher fees and have lower credit limits. Some lenders
and credit card issuers may even deny you altogether.

How much is your bad credit scorea bad credit score
costing you?

Example 1 — Auto loan: $30,000 car paid over five years:  This shows someone with bad credit paying six thousand dollars more than someone with good credit! Example 2 — Home mortgage paid over 30 years: This shows a person with bad credit is paying a quarter million dollars more than someone with good credit, holy crap! You can see how having a bad credit score negatively impacts your life. Do yourself a huge favor and work on repairing your credit and raising your credit scores; life will become so much better– and cheaper!

We hope this article on what is a bad credit score was useful. Gives us a call today at 877-649-6322 and one of our associates will answer any questions you may have on how to repair your bad credit score. Much luck and success!