Will Filing For Bankruptcy Negatively Impact My FICO Score? By Chad R Fisher

It's important to know the facts about bankruptcy and your FICO score, before you decide to file for Chapter 7 or Chapter 13 bankruptcy. You should also know that filing for bankruptcy will decrease your credit score there is reallly no way around it. However, the good news is that eventually you can rebuild your score so all is not lost. Read our informative article and find out more about how bankruptcy impacts your credit data.

First a bit of history on where FICO comes from. The acronym FICO stands for; "Fair, Isaac and Company". This is the company that developed the software system (or formula) that puts a credit score on your credit record. It is one of the most popular, if not the most popular way lending institutions make their decisions on who to lend their money to. Literally billions of credit decisions are based on the credit score. Since this score is so widely used it is plain to see that the question; "How does bankruptcy affect my score?" would be an easy one to answer.

Keep in mind that there are lots of events that can negatively impact your credit rating. If you just had a home foreclosure and experience with lots of late our outstanding debt will know that their credit score can be adversely affected.

The FICO score does not reflect your income or ability to pay. Instead it reflects your probability to pay. You may make plenty of money and be able to easily afford a certain car or home, but your score will not be showing such an ability. As you may have figured out, one of the top reasons for getting a lower score would be bankruptcy since bankruptcy shows your complete delinquency to pay back what you owe.

Now that you know the answer to the question, how does bankruptcy affect my credit rating? it is a wise thing to do all you can to avoid entering bankruptcy protection if you want a higher credit score.

All of our articles are originals, if you liked this, check out Understand Bankruptcy for similar information.

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How to Get a Mortgage Loan Modification With Obama's Federal Plan By Susan V. Gregory

You may qualify for a mortgage loan modification using Obama's federal plan. Most lenders are ready to accept applications for this aggressive loan workout program, but before you contact your lender, make sure you understand how to improve your chances of qualifying. $75 billion dollars has been allocated to fund this program, and approximately 5 million homeowners are expected to apply. Here is some important information that may help you qualify to lower your monthly payment.

The federal mortgage loan modification plan is a standardized program that offers the same terms to every qualified homeowners. There is no negotiating-either you meet the approval requirements or you don't. The secret to approval is to have a general understanding of how to prepare your application so that it has the best chance of meeting those guidelines. Here are the basics required to qualify:

1. Loan must have been originated prior to January 1, 2009
2. Loan amount must be less than $729,750 (higher allowed for 2-4 units)
3. You must live in the home as your primary residence
4. Your current payment must equal more than 31% of your gross monthly income (including taxes, insurance and homeowners dues)
5. Only available on first trust deeds (second loans do not apply)

If you can meet these criteria, then you may be a good candidate for the Obama federal mortgage loan modification program. The program is voluntary, however most lenders are participating. As an incentive, lenders will be paid for each modification completed under this program. In addition, homeowners who successfully pay their new payments on time will be eligible for bonus payments of $1000 per year, for up to five years. Those bonus payments will be deducted directly from the loans principal balance to help recapture equity.

Homeowners who want to apply for the mortgage loan modification plan will be asked to complete an application and provide their income documentation. The application will include required loan modification forms that must filled out detailing income and expenses, as well as a hardship letter verifying an acceptable financial hardship situation. How these forms are completed will in large part determine the lenders decision to approve or deny the application. If you can show clearly that you meet the approval guidelines, you will have a very good chance of getting a new lower payment. If you qualify, your mortgage loan payment will be reduced using these methods to acheive a new payment that equals 31% of your gross monthly income:

1. First, the interest rate will be reduced to as low as 2%, then
2. Term lengthened to 40 years, if more is needed, then
3. Some principal may be deferred

These terms are some of the most aggressive mortgage loan modification options available, and are designed to give the homeowner an affordable and sustainable monthly payment. If you are interested in applying for this plan, take the time to learn a bit more about how to complete your loan modification application forms so that you will have a better chance of approval. This is the second chance that many homeowners need to avoid foreclosure and stay in their homes. A little preparation before contacting your lender could be the difference in success or failure.

Get the help you need to understand and apply for the Obama mortgage loan modification plan by ordering and downloading The Complete Loan Modification Guide. This is a low cost, easy to read home edition loan modification kit that will provide you with everything you need to prepare a professional and acceptable loan modification application. You are provided with all of the necessary forms and given detailed directions on how to complete them properly.

The Complete Loan Modification Guide will take you step by step through calculating your debt ratio, completing the financial statements, writing your hardship letter and then putting it all together to submit to your lender. Get started today on the path to secure home ownership, order and download The Complete Loan Modification Guide.

For more information about mortgage loan modification, please visit us at: http://www.myloanmodificationcenter.com

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How to Legally Remove a Bankruptcy From Your Credit Report By Patrick Zanders

If it was not so sad, it would be incredibly funny. With all of the information that is available today, people still allow poor credit to disrupt their lives. I find this most often when it comes to bankruptcies on credit reports. Isn't it bad enough that people had to file bankruptcy? I guess the credit bureaus don't think so. They want to make these same folks believe that they have to suffer for 10 freakin years with this on their credit files too. This is an outrage!

To make matters even worse, there are all kinds of self proclaimed "guru" authors that are writing garbage stating that it is dishonest to try and have a bankruptcy removed from your credit report. If that is dishonest, what would you call a non governmental agency like the bureaus wrongfully holding your credit hostage for 10 years? Hmmm....Let's call that down right criminal shall we?

Here is the skinny on bankruptcies. It truly would be illegal if you had it just wiped away using e-oscar, metro 2 or any other software that hackers and scammers are using. If you used the actual laws on the books though, you would LEGALLY REMOVE THAT BK PERMANENTLY! Let me explain further what I mean.

The only way to make that BK disappear from your file is to prove that it does not belong there. I did NOT say that you are going to try and prove that it is not yours....Nope, it is yours. You hired an attorney, signed papers, and went before a judge...IT IS YOURS! What you ARE doing is disputing the bureaus right to place this on your credit report..Doing this would have your BK removed right away!

So before you let your credit report keep you down for 10 years...Get to work and get it removed!

Patrick Zanders is available for consultation on credit matters including removing bankruptcies from your credit reports. He can be reached at 623-255-6023

Article Source: http://EzineArticles.com/?expert=Patrick_Zanders

How to Legally Remove a Bankruptcy From Your Credit Report By Patrick Zanders

If it was not so sad, it would be incredibly funny. With all of the information that is available today, people still allow poor credit to disrupt their lives. I find this most often when it comes to bankruptcies on credit reports. Isn't it bad enough that people had to file bankruptcy? I guess the credit bureaus don't think so. They want to make these same folks believe that they have to suffer for 10 freakin years with this on their credit files too. This is an outrage!

To make matters even worse, there are all kinds of self proclaimed "guru" authors that are writing garbage stating that it is dishonest to try and have a bankruptcy removed from your credit report. If that is dishonest, what would you call a non governmental agency like the bureaus wrongfully holding your credit hostage for 10 years? Hmmm....Let's call that down right criminal shall we?

Here is the skinny on bankruptcies. It truly would be illegal if you had it just wiped away using e-oscar, metro 2 or any other software that hackers and scammers are using. If you used the actual laws on the books though, you would LEGALLY REMOVE THAT BK PERMANENTLY! Let me explain further what I mean.

The only way to make that BK disappear from your file is to prove that it does not belong there. I did NOT say that you are going to try and prove that it is not yours....Nope, it is yours. You hired an attorney, signed papers, and went before a judge...IT IS YOURS! What you ARE doing is disputing the bureaus right to place this on your credit report..Doing this would have your BK removed right away!

So before you let your credit report keep you down for 10 years...Get to work and get it removed!

Patrick Zanders is available for consultation on credit matters including removing bankruptcies from your credit reports. He can be reached at 623-255-6023

Article Source: http://EzineArticles.com/?expert=Patrick_Zanders

Finding (and Getting) The Best Prepaid Debit Card By Scott McQuarrie

One tremendous advantage of prepaid credit and debit cards is that they are available even to people with poor credit histories. Even though they are easily obtained because of the pre-payment requirements, it is not wise to get a prepaid card if you are unable to keep track of purchases or hold to a budget. On the other hand, when you are ready to start learning responsible financial behavior, a prepaid debit card, specifically, can be a real help.

The terms "credit" and "debit" actually become moot when discussing prepaid cards, because whether there is a Visa or MasterCard logo, or some other company name one them, they all operate the same way. You deposit funds, and those funds are what are available for you to spend. One card, the All-Access Prepaid MasterCard, is ideal for occasional use with no monthly fee, no minimum balance to maintain and no bank account required. It is "reloadable" via various means, up to a high deposit amount of $10,000.

Various features distinguish the best cards

Like most prepaid cards, the All-Access Card also safeguards the user from overdrafts and bounced checks because of the prepayment requirements. And as with all modern credit and debit cards, there is complete protection against unauthorized use. If you are building your credit back up following some financial reversals, the All-Access card is one your should definitely consider, as it has all the benefits you need for spending flexibility, without the pitfalls of high interest or spending limits.

The Wired Plastic Prepaid Visa has very modern features, and is even usable nationwide on the new :"tap-n-pay" payment terminals. As opposed to basic, stripped down prepaid cards, the Wired Card has a rewards program that earns you a point for every dollar spent, redeemable for wireless airtime, music downloads and long-distance phone calls. You can even set this youth-oriented card up to receive mobile or email alerts about your balance, purchase history and reward point accruals.

Big names enter the card games

America's best-know "money sending" company is just one of many large, recognizable names that has entered the prepaid segment of the credit card market. After a short, easy application-with no credit check and no bank account required-the card can be loaded with cash at any of over 48,000 company locations nationwide. You can even deposit your paycheck directly to your card, keep in touch with your balance via phone and Internet and receive corroborating text messages to your mobile device following every purchase you make. Now that's security, especially for those who need to learn stricter financial habits.

There are many prepaid cards, with and without the major Visa, MasterCard and Discover logos, and they offer a sometimes confusing range of options and services. It definitely pays to do your homework on these kinds of credit cards, but a little shopping around-and a decent amount of number-crunching-you should be able to get into a prepaid debit (or credit) card that has the best array of services and features for you.

- - - - - - - - - -

After founding his first security firm in 1990, Scott McQuarrie built several security-related companies into regional and national powerhouses over the ensuing years. Since 2000 he has focused his sales and marketing efforts on the Internet, which opened up a virtually unlimited, international market for his flagship product line, EZWatch Pro.

The EZWatch Pro brand has come to stand for world-class expertise in electronic security, video surveillance and the myriad technologies involved in both fields. From small houses to gigantic international airports, there is an EZWatch Pro solution to meet any and every residential, business, commercial and government security challenge.

Article Source: http://EzineArticles.com/?expert=Scott_McQuarrie

Steps Anyone Can Use to Improve a Credit Score By Teddy Danfield

First of all there are hundreds of ways to improve your credit score. Today I want to review some easy things anyone can do to improve their credit score. If you already have a score over 800 their isn't anywhere for you to go except down. I consider anyone with a score over 800 as Platinum credit. You will always be approved for any home, car or credit card you apply for within reason.

Now for the rest of us who don't have a score in the 800 or even 700 range: What can we do?

Well the most obvious is to get current on your bills if your behind. Then once you are current stay current. Recent late payments will hurt your score more than a late payment two years ago. The worst thing you can do is miss a payment or two in the last 60 days and apply for a loan today. Now you may get an approval, but it may not have the best terms.

Another way to improve your credit score is not apply for a lot for a lot of credit cards in a 30 to 60 day time period. If you were declined today for say poor pay history. This probably will not change in 30 days or even 60 days. So you are just hurting your score by going from lender to lender attempting to get a loan or credit card. The reason is that inquiries do hurt your credit score even you are or are not approved.

The best thing to do when you are declined for a loan is to find out reason and if it has to do with information in your credit report is to get your credit report. You want to make sure the information is correct and then attempt to fix the reason.

When someone is turned down due to lack of income that has nothing to do with your credit report. This simple means you need to earn more money or pay off some bills. I have had people with good credit scores, but declined due to lack of income. Usually they are asking for too much money or owe too much on their credit cards or other loans to justify approving them for the loan.

Like I said originally there are hundreds of ways to improve your credit score. The most important thing for you to do is concentrate on one or two areas. If you are reading this and you have missed payment is to attempt to get current or contact your lender to see what programs they may have to assist in getting current.

I hope this helps.

About Teddy Danfield. I have worked in the finance field for over 15 years. I want to help people get out of debt or at least pay less in interest charges. Visit my site http://debtstrength.com My new book "How to Beat Banks and Credit Cards At the Money Game" can help you keep more money in your pocket. Stop paying interest to banks and start earning interest.

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Credit Counseling Agencies - How a Credit Counseling Agency Can Lower Your Monthly Payments By Mike Irons

When you're trying to pay down your debt sometimes going to the right high caliber outside agency will actually lower your debt and lower your monthly payments. Nowadays many people go to a credit counseling service for this help. A credit counseling agency can help you if you have a large amount of outstanding debts.

But you must do a thorough check on any agency you are considering because unfortunately a lot of unscrupulous agencies have sprung up whose sole business purpose is to take advantage of people in need. There are a number of ways to find legitimate credit counseling agencies.

The first thing would be to go on the Internet to the National Foundation For Credit. Pick one of their member agencies. They're certified by the NFCC and they're non-profit. Being a non-profit credit counseling agency does not necessarily guarantee that they are legitimate, but it's a good place to begin. When you get in touch with a credit counseling agency they'll make an appointment for you to bring in lists of your income (if any), assets, and expenses along with any letters you have from all the people you owe money to.

The goal of a legitimate agency is to negotiate lower interest rates as well as lower you monthly payments. The goal of a bogus agency is to separate you from your money. Legitimate credit counseling agencies might be able to negotiate lump sum payoffs that are less than the total that you owe. Keep in mind that if you go this route it will be noted on your credit report - and that will lower your credit score.

However, at this point in time your credit is probably challenged anyway. So doing this can make life easier for you and ultimately put you back on the road to a better credit rating.

How It Works

You'll pay the credit counseling agency a small monthly setup fee and perhaps an additional fee for each account that you owe money to. In return they will contact your creditors and negotiate lower monthly payments. For example, if you're paying off five bills and they charge $5 each, that comes to $25 per day. You would give a check to the agency and they will pay these creditors.

The Advantages of Using A Credit Counseling Agency

Your major advantage is that they can often negotiate lower interest rates and lower fees than you'd be able to on your own. That doesn't mean that you should blindly accept their advice. Look carefully at the plan they are proposing. See if it makes sense. If their plan doesn't look like it will save you money or help you to pay off your debt sooner don't feel pressured to do it.

Also, because there are so many bogus credit counseling agencies, most people do considerably more research into a company's background before they sign an agreement with the one they want to represent them.

And to find out how to do a much more thorough background check on credit counseling agencieshttp://www.FindReliefFromDebt.com now. along with more free information about how to get out of debt as fast as possible, go to

(c) Copyright - Mike Irons. All Rights Reserved Worldwide.

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Write Off Credit Card and Loan Debt - The Consumer Credit Act 1974 By Kerry Jonas

The Government introduced The Consumer Credit Act 1974 (The Act) in to Law, to provide people with specific Consumer rights and to protect them from Lenders. The Act sets out very strict guidelines for the content and format of all Credit Cards, Loans and other Financial Agreements, that must be followed by all Lenders in this Country. Write Off Debt under the Consumer Credit Act.

Government Legislation in the form of The 'Act' states that if a Lender provides Credit using a written Agreement that does not fully comply with certain Conditions of the Act, it becomes an unenforceable Credit Agreement. Therefore the borrower will not need to repay the outstanding balance and may be entitled to a refund of payments and compensation.

The Consumer Credit Act and other Government Legislation, explicitly detail the exact content and format a Credit Agreement must use if a Credit Agreement is not to become an unenforceable Agreement. However, because of changing legislation and Legal new presidents, Lenders regularly change the content of the Credit Agreements they use.

Solicitors have now discovered that over the years, some of the many often inexperienced people used by the Lenders to draft or amend their Credit Agreements have made errors by failing to include all of the content required, in the exact format required by Consumer Credit Act Law.

This area of Consumer Credit Law is relatively complex, however in simple terms some of the areas which can make Credit Agreements become unenforceable Credit Agreements include:

NON PROVISION OF PRESCRIBED TERMS

The Lender did not include in the Agreement all of the information they were required to provide, in breach The Consumer Credit Act.

INAPPROPRIATE EXECUTION OF AGREEMENT

The Lender did not provide an Agreement in the format allowing correct execution, in breach of The Act.

MISCALCULATION OF APR's or THE TOTAL AMOUNT REPAYABLE

The Lender did not use the correct method to calculate the Interest Rate or the Total Amount Repayable, in breach of The Act.

NON PROVISION OF RELEVANT DOCUMENTATION POST AGREEMENT

The Lender is unable or unwilling to provide copies of the original signed Agreement and supplementary documentation, in breach of The Act.

NON DISCLOSURE OF COMMISSIONS OR FEES

The Lender did not disclose all of the commissions and fees they paid or received in connection with the Agreement, in breach of The Act.

MIS-SELLING OF ANCILLARY PRODUCTS

The Lender inappropriately included an ancillary product with the Credit Agreement, in breach of The Financial Services and Markets Act 2000.

If you use Solicitors to arrange for your Lender to write off your unenforceable Credit Agreement, you will not need to know which aspects of the Law your Lender has broken, Solicitors will deal with these matters.

Visit http://www.CreditIssuesUK.co.uk - Write Off Credit Card and Loan Debt with the Consumer Credit Act and take the 2 minute test to find out if your credit agreements qualify.

Article Source: http://EzineArticles.com/?expert=Kerry_Jonas

Can You Be Sued For Credit Card Debts - Advice About Being Sued For Debt By K D Garrow

The answer to whether you can be sued for credit card debts has to be that you can, but the decision to sue or not depends on many things. Bear in mind that what the card company want is to get their money, so they will only sue if they think that is the course of action that is most likely to achieve this end.

Whether they decide to sue you for the credit card debts will depend on things like how much you owe and how far you have fallen behind with your repayments. The fact that any legal advice and action will cost them money means that they are not likely to go down this path unless the gain is going to outweigh the cost.

Other factors that the card company will consider are how long you have been at your current address, whether you have a steady job and how old you are. These are the sort of things that will affect how likely they think you are to disappear to avoid the debt. If you look fairly settled and young enough to work for some time to come, you are a better bet for paying them back in the long term, so they might do a deal.

If you have your credit card in a joint name the company are probably going to try chasing the other cardholder as their first option, because if this works it is a lot easier and cheaper than suing you.

Can You Be Sued For Credit Card Debts:

Yes You Can - But That Is Not Necessarily The End Of The World

Leaving aside the legal action for a moment, most debt problems should be tackled in the same sort of way, by working out your exact financial situation and negotiating an affordable deal with your creditors. This is too big a subject to go into in this article, but is always the best solution as it does not involve borrowing more money or paying a company for a commercial debt solution which primarily benefits them.

Credit cards are a form of Secondary Debt, meaning that the immediate consequences of non-payment are less serious than those which could result in losing your home, imprisonment or having your possessions seized. A credit card company that you owe money to are perfectly entitled to take legal action against you, which is likely to result in the court ordering you to pay off the debt at a rate they decide, which ought to be within your means.

Can You Be Sued For Credit Card Debts:

The Legal Process
If you receive a Default Notice from the company you owe money to, then you need to seek legal advice because they can then take you to court. You may well be advised to apply for a Time Order from the court, which can have the benefit of limiting the interest and penalties on your debt and setting a lower repayment amount.

To get a Time Order you need to send a letter to the company you owe money to and make an offer to pay them an amount you can afford. You case will be made stronger if you can include a Personal Financial Statement to show your exact financial situation. If the company turn down your offer of payment you need to approach the County Court to apply for the Time Order. The court will then decide whether your offer of payment was for an appropriate amount or not.

If the company refuse your offer of payment you can go ahead and make the payments you have offered anyway, then it is up to them to decide whether to take you to court of not. If they decide to take action then you will need to apply for a Time Order at that point, but in this situation the court fee will be paid by the card company, not you.

If no application for a Time Order is made, the credit card company make what is known as a Money Only Claim through the County Court. If their claim goes through, this will result in a County Court Judgment against your name.

If the card company lodge a claim against you, you will be sent a form to complete by the Court. Make sure you seek legal advice if this happens. What the County Court Judgement will do is set in place a plan for the repayment of the debt, and it is very important that you stick to this. The court should take into account your financial situation, so the repayment amounts ought to be affordable.

Can You Be Sued For Credit Card Debts:

When Things Can Get More Serious

Once there is a County Court Judgment against you, your situation changes to one with potentially more serious consequences. The payments set by the court must be maintained, otherwise the court can allow the card company to send bailiffs to take possession of your possessions.

Another possible consequence of court action could be the decision to implement an Attachment of Earnings, which allows the deduction of money direct from your wages. The consequences of not co-operating with such a requirement include imprisonment.

The other possible consequence that you really want to avoid is the setting up of a Charging Order. This secures what you owe against your home, so if you then default on your payments your home could be sold off to get the money you owe.

Can You Be Sued For Credit Card Debts:

Conclusions

As you have seen, you can be sued for credit card debts and other types of credit debt, but if you make an effort to tackle it the situation does not need to be too serious. Even if you are taken to court, the result will almost certainly be a payment plan which should be affordable, and you MUST stick to this. When it does start getting more serious is if you go to court and then do not adhere to what the court orders you to do.

Having court action against you is of course stressful and undesirable, and best avoided. If you have serious credit card debt problems there are definitely ways to tackle it, so don't ignore it, seek advice.

K D Garrow has worked as a senior manager for the last twenty years, with responsibility for significant financial control. His extensive knowledge of financial matters has been used to provide free and unbiased advice on Ways To Pay Off Debt on his website. The main aim of the site is to show how to get out of debt without spending or borrowing money.

His considerable experience of health and safety law as it relates to managing work premises is put to good use in his other website, which offers a guide to Fire Risk Assessment, and many other health and safety related matters.

Article Source: http://EzineArticles.com/?expert=K_D_Garrow

Sample Late Payment Explanation Letter By Lyn Collier

When you write a creditor to explain your late payments (mortgage, car, or credit card), the letter should state:why you are late, (see paragraph 1 of the letter below)

• how serious you are about fulfilling your commitment to them (paragraph 2 of the letter below), and

• when you expect to be able to resume full and regular payments, (paragraph 3 of the letter below),
• what you want from them (paragraph 4 of the letter below)
• the financial details of your hardship (paragraph 5 of the letter below)

Below is a sample late payment explanation letter. Change it to describe your own circumstances, but make sure that you enclose copies of financial documents like: checking account statements, tax returns (past two years), all bills from creditors, all late notices, pink slip, anything else that will prove your hardship.

Cindy R. Williams

9 Turnbill Ct.

Anywhere, USA 55555

To: ABC Mortgage

Re: Late Payments; Account # 12345678

Daytime phone number: (555)555-5555

I am writing to inform you of my recent financial hardship. I was laid off from my job at XYZ Company just before Christmas of 2008. I am diligently seeking other employment, but as you know, jobs are scarce in today's economy. I have not found anything yet. Being out of work has caused me to be late on my bills.

I believe in hard work and have never been without a job for more than a few months. Until this unfortunate event, I have maintained a solid payment history with you.

My goal is to pay everything I owe. I take my financial obligations very seriously and plan to continue regular and full payments as soon as I find a job.

I expect my situation to be temporary and would like to discuss loan forbearance. I would also appreciate any suggestions you might have that would help me get back on track.

Please find the enclosed spreadsheet of my monthly expenses, as well as copies of financial documents, my pink slip from XYZ Co, and late notices I have received during my financial setback. I'm sending these to show that I am indeed experiencing financial hardship. This letter and all documents attached are true and accurate to the best of my knowledge.

Thank you for your time. I hope to hear from you soon.

Sincerely,

Signature/Date

Forbearance is an agreement by a creditor to reduce or delay payments for a specified period of time. Interest accrues during forbearance and will increase your loan amount. The good thing is that you will not have to pay late fees and penalties. There is no negative affect on your credit either.

Learn from Lyn Collier's years of Real Estate experience.

Read simple, to-the-point articles about avoiding costly mistakes and how to get the best loan modification at http://www.e-home-mortgage-loans.com/index.html

Article Source: http://EzineArticles.com/?expert=Lyn_Collier

Can You Really Pay to Repair a Bad Credit Score? by James Copper

You have probably seen commercials at one time or another that offer to eliminate your bad credit score. Usually they require that you pay a hefty sum of money before they begin eliminating the problem. They may promise to raise your score in as little as 30 days and have you qualified for the loan of your dreams. But, can anyone really wipe out a bad credit score?

Well, you cannot pay someone to magically eliminate your credit score for you. Many people have found out the hard way that these companies are just a scam. These companies will request money even before they have looked at your credit report. These types of companies may try to persuade you to create a new credit identity. This is actually illegal and while your bad credit will be erased, you will more than likely find yourself spending time in prison or paying back a hefty fine.

The bottom line is that no one can wave a wand and erase your bad credit score. If you want that number erased, then you are going to have to do some work yourself to improve your credit score. Some things that you can do to improve your score are as followed. It may be hard work, but it is something you should certainly try to do to better your credit.

Look for inaccuracies in your credit report. It doesn't take a whole lot to send your credit score plummeting. If you find a problem in your credit report, immediately report it to the consumer reporting company. Make sure that you are not sending original documents, only copies. This is because any document you send them will not be returned. Be sure that each item in question is clearly identified so there will not be any confusion. Once your information is processed and the correct businesses are contacted, your credit score will then be investigated. If they do identify that there is a problem with the items in question, they will fix them or sometimes erase them from your report, but only if there is a problem. It is always recommended that you keep a copy of all the disputes that you may file.

Debt consolidation can greatly improve your credit score. If your credit score is lowering because you are unable to pay off debt and you are considering filing for bankruptcy, don't do it. Working with your credit company and consolidating your debt can have a major impact on your credit score. As a matter of fact, many companies see this as being more responsible than filing for bankruptcy. Debt consolidation basically lumps all of your unpaid bills into one monthly payment. This will make sure that everyone is getting money every time this payment is made.

Any company offering to erase your bad credit score is telling you a lie. They are either going to scam you or supply you with information that is freely available from consulting a credit counsellor. So, protect yourself and do you research before signing on with anything that seems shady.

James Copper is a writer for http://www.repossession-stopper.co.uk where you can find hints to prevent repossession

Home Mortgage - Part 4 By Nate Perrott

Obviously, you will not have this equity or the additional expenses if you decide to live in an apartment. And if you particularly dislike mowing and shoveling and such, an apartment gives you more relaxation time. Also, depending on your outside interests, you might find an apartment with pool facilities or a workout gym or tennis courts. Needless to say, if you are single, you will find more eligible bachelors and bachelorettes in an apartment complex then you will in a family neighborhood.

What this boils down to is that you must base your decision on whether to buy a house or rent an apartment on what you will feel comfortable with while fully realizing what the future might bring. However, this decision is not only for people starting out in life. It is important to read this section because we will be discussing the possibility of selling your present house and moving into an apartment in our section on saving money.

2nd Mortgage

Second mortgages can be a very bad trap for you. That is, you have been paying on your home mortgage for awhile and can now use the part of the house you have already paid for (your equity in it) as collateral on another mortgage. Therefore, you are right back where you started from. Unfortunately, it is the person who is deeply in debt already who is encouraged to get a 2nd mortgage. The idea is that this additional loan can be used for whatever you want and it is very tempting.

We continually see TV commercials for 2nd mortgages to pay off your huge debts. Does it really make sense to you to take on even more debt in order to pay off old debts? No, you know it does not.

I got my free credit report at http://www.securecreditadvice.info, it is hands-down the most reputable credit report company online. Customer testimonials and feedback have been excellent for this company.

Home Mortgage - Part 4 By Nate Perrott

Obviously, you will not have this equity or the additional expenses if you decide to live in an apartment. And if you particularly dislike mowing and shoveling and such, an apartment gives you more relaxation time. Also, depending on your outside interests, you might find an apartment with pool facilities or a workout gym or tennis courts. Needless to say, if you are single, you will find more eligible bachelors and bachelorettes in an apartment complex then you will in a family neighborhood.

What this boils down to is that you must base your decision on whether to buy a house or rent an apartment on what you will feel comfortable with while fully realizing what the future might bring. However, this decision is not only for people starting out in life. It is important to read this section because we will be discussing the possibility of selling your present house and moving into an apartment in our section on saving money.

2nd Mortgage

Second mortgages can be a very bad trap for you. That is, you have been paying on your home mortgage for awhile and can now use the part of the house you have already paid for (your equity in it) as collateral on another mortgage. Therefore, you are right back where you started from. Unfortunately, it is the person who is deeply in debt already who is encouraged to get a 2nd mortgage. The idea is that this additional loan can be used for whatever you want and it is very tempting.

We continually see TV commercials for 2nd mortgages to pay off your huge debts. Does it really make sense to you to take on even more debt in order to pay off old debts? No, you know it does not.

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Home Mortgage - Part 2 By Nate Perrott

In most areas of the country, you could find a good buy on a small house and end up paying $1,000 to $1,200 a month in mortgage payment. Likewise, you could find a beautiful apartment in an exclusive area with all of the amenities and pay $1,000 to $1,200 a month. With this example it would seem not to matter whether you buy or rent. But think again. As of this writing, the interest on your mortgage payment as well as the points you paid to get the mortgage and your property taxes are all deductible from your income taxes. Depending on your income and other possible deductions, you may need that mortgage payment in order to keep your income taxes down. If the annual interest on your mortgage comes to $8,000, claiming this on your income tax could mean the difference between getting money back from Uncle Sam or having to pay him additional money over and above what you have deducted from your weekly pay check. In other words, just paying that $1,200 mortgage each month is not the only expense.

But, is it more important to you to pay less income taxes or have more money in your account for other things? Keep in mind that what you save on taxes by having a mortgage will be balanced out by what you have to spend every year in upkeep and maintenance. For instance, how much would you have to pay for snow plowing in the winter or mowing the lawn in the summer for a house that you would not pay in an apartment complex? How much would you pay for a new roof in 20 years, painting the house exterior in 10 years, and continual landscaping that would be taken care of for you in an apartment? Would you be paying extra for garbage pick-up or water in a house? Would you really love to be able to swim in a pool every day and how much extra would that pool cost? So, did you just decide that maybe a really nice apartment without having to pay for the repairs and upkeep might be a better idea? Or are you saying, "yeah, but think of the equity I would have in my own home."

Equity in a home is what the house is now worth in the current market minus what you paid for it and minus major renovations. The idea behind this is that the longer you stay in a house, just the natural cost of living increases will create a rise in the value of your home. That is, you buy a house for $100,000 and ten years later it is now worth $200,000. This used to be true. Unfortunately, this type of equity is no longer a given in this equation. Because our population is free to move around and does so continually, the areas where home values are increasing is continually changing. As people continue to move into new houses out in the countryside, the older homes lose value.

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Different Mortgage Types Explained By Chris Borthwick

The two types of mortgages are repayment and interest only. You could also have a mixture of the two. There are obviously benefits to each option, pros and cons depending on your situation.

Repayment Mortgage

A repayment mortgage will see monthly payments go towards reducing the amount owed on the principal sum as well as paying a portion of the interest accrued for taking the mortgage. This type of mortgage will have higher mortgage repayments but will allow you to pay off your mortgage quicker.

The Plus Points

You can see your loan getting smaller; you are reducing your debt level as quickly as possible.

The Negative Points

In the first few years of the loan, the majority of the repayments will be mainly interest. Therefore the loan won't be reduced much at the beginning.

The Interest-only option

An interest only mortgage as the name suggests will pay only interest on the mortgage therefore you aren't repaying any of the loan. If you go with this option you should have a plan in place to make the repayments of the loan in the future, for example from a savings account or an investment.

The Plus Points

As you are paying off interest on the loan and not the loan itself, your monthly payments will be lower.

The Negative Points

This option means you need to be careful with your finances and make sure the repayment option you choose is viable and will repay the loan in the future; reviewing regularly to ensure it is on track to repay the loan. If the loan isn't enough at the end of the term, you could lose your home. If you do find you aren't going to have enough to repay, you can ask your lender to switch part or all of your mortgage to a repayment mortgage. You could overpay your mortgage which will reduce the overall interest over the term of the mortgage. You could also start a new savings investment or use cash ISA savings to pay off your mortgage. Reviewing your savings after each bank of England base rate change will ensure you are always receiving the best interest rate and obviously investing wisely in longer term fixed rate investments can give you better return rates.

Whether you want a mortgage Aberdeen or mortgage for a home in York following the above advice will give you a great start with your first property.

Chris Borthwick writes articles covering a broad range of subjects. His main area of expertise is mortgage advice and writes many articles on mortgages for finance industry, mortgage brokers and for the general.

Select the Best Mortgage Lender By Tim McGovern

Most borrowers ask the obvious questions about fees, interest rate and term. But there's so much more you need to know to get the best mortgage possible. In your search for the best mortgage lender there are certain steps you can take that will increases your chances of success. Here is a list of questions you want to ask so you can find the best mortgage lender to work with.

First what is their level of experience?, have they been doing this for quite some time or are you going to be their first deal.

Second try to see if they have a general understanding of the mortgage market, economics and the flow of money. While no one can predict what interest rates will do tomorrow or next week. Your Pennsylvania mortgage lender better have an understanding of how the mortgage market moves it is beneficial to you.

Find out what their philosophy is on when to lock the rate. Many times you can get a rate locked from application to closing but if there are delays it's nice to know that your interest rate isn't going to go up and cost you thousands of dollars more.

There are so many different loan programs available, be leery of any mortgage lender that just quotes you a rate off the top of their head and tells you this is the best deal going. There's probably more research involved in finding the best mortgage loan for your situation.

If you follow these steps and asked these questions, when you're done you should be able to commit to which mortgage lender will get your business. You should also have a level of confidence that the person you picked is not going to be a disappointment later.

You will have increased your confidence in the financial direction you're heading. Knowing that you are improving your skills with money and financing that will serve you well throughout your life. And of course you know that you've done your homework and your going to get the most competitive terms and extraordinary service.

Picking the right mortgage lender will ensure you get the best loan possible and you will have a house with wall-to-wall carpet and not a house with a back-to-the wall payment.

Whenever you get a Mortgage in Pennsylvania it is regulated by the Pennsylvania Department of banking, consumer services division, you can reach them at one 800 PA-banks or on the Internet at www.banking.state.PA.US.

You do have specific rights for mortgages in Pennsylvania such as the truth in lending act, which allows borrowers when someone's at least three days after closing to back out, as is called right of rescission.

If you think you've been treated unfairly in a mortgage loan transaction call the 800 number listed above or check them out on the Internet.

Mortgage financing is usually the largest financial transaction in most peoples lives. Be sure you have all the facts about mortgage financing before you sign on the dotted line. There is plenty of information about http://www.pamortgagefinance.com/ Pennsylvania mortgage lenders on the internet. Tim McGovern is the author of this article and has over 25 years experience as a real estate developer, consultant and broker.

Why Using a Mortgage Broker is a Good Idea By Krista Scruggs

Applying for a mortgage loan is a complicated bit of business, but most consumers feel they are up to the task. Wanting to save money wherever possible, they seek to go it alone for much of the process and in so doing, they sometimes make some of the costliest mistakes! Using a mortgage broker is a good idea for the average consumer in search of that perfect mortgage and although there is a fee involved, it is well worth the little bit of commission the broker stands to earn when closing a loan.

Mortgage brokers have unique and intimate ties to the home loan banking industry that consumers would have to spend a long time cultivating. Due to their insider knowledge of lenders, their requirements, and also unique loan products, these brokers can recommend avenues most consumers would not have thought traversing. Many a consumer might look to their bank as a primary source of a mortgage loan. In some cases, comparison shopping might take place when the consumer also talks to a rep from the credit union; by and large this is the extent of the shopping around process many consumers undergo.

The mortgage broker is not fettered by business relationships the consumer has already established and instead may find a loan product from a little known lender or a rarely advertised product from a well known bank. Since they are highly skilled at pairing consumers with loan products that are advantageous to the individual customer, this expertise is well worth the price most brokers charge. In some cases, mortgage brokers have successfully protected consumers from costly mistakes that could have jeopardized their future as homeowners!

Consumers who foresee having a hard time finding a good loan product - this is generally true for those with less than good credit - will benefit tremendously from the services of a mortgage broker. The same is true for borrowers who simply cannot find their way through the forest of papers and disclosures and need someone to break down the facts and clauses into easy to understand English.

There are many other advantages to hiring a mortgage broker that may be more personal in nature. For example, consumers busy with work and family life find that also focusing a lot of time and attention on negotiating with lenders is not always possible. Although this might in the past have led to a hasty decision the homeowner later lived to regret, with the help of a mortgage broker the comparison shopping and negotiating is done for the consumers and it cuts down on the time, effort, and stress the consumer experiences in the process.

You can find a list of mortgage brokers on http://www.lender411.com

Krista Scruggs is an article contributor to Lender411.com. Whether you are looking for fixed mortgage rates, variable adjustable mortgage rates (ARM), jumbo loans,interest only or even specialized mortgages such as bad credit mortgage or reverse mortgages, we will match you with up to 4 qualified lenders with 4 mortgage quotes.

Economic Stimulus Package 2009 - How Will Obama's New Stimulus Package Affect Your Mortgage By Eric Banks

President Barack Obama is all set to balance out the chaos happening in the US economy. In order to stop the rapid flow of foreclosures, bankruptcies and losses to the financial institutions the new Stimulus Package has been announced with a budget of $ 1 trillion. The Economic Stimulus Package 2009 shall give you help in the form of loans, tax credits and grants. It is based on the keywords like 'affordability' & 'loan modification.'

It has come in with a major impact on your mortgage & home ownership deals. Now all those home owners who are having sleepless nights in the fear of a foreclosure might take a sigh of relief. You can now apply for a loan modification quite easily and enjoy a lower rate interest.

Will Obama's 2009 New Stimulus Package Affect your Mortgage:

· Earlier only those home owners who had 20% equity in the home, could apply for the loan modification. Now that is not the criteria. Now if the mortgage amount is more than 105% of the current value of the home, the home owner can apply for a loan modification.

· The loans owned or modified by Fannie Mae & Freddie Mac are all eligible for the loan modification.

· There is a ceiling levied on the mortgage amounts. The new modified mortgage monthly payments can not exceed 31% of the gross monthly income of the borrower currently.

· The loan modifications are done at the lower rates of interest. From 6.5% it has reduced to 5.16%.

· The home owners can shift from the variable rates of interest and ARM (Adjustable Rate Mortgage) to the fixed rate of interest.

· You can now opt for long term loans like 20 years or 30 years.

To know more about Loan Modification Programs and to check if you qualify

Click Here --> Federal Loan Modification

President Obama has offered $1000 incentive for home owners that opt for Loan Modification instead of Short Sale Or Foreclosure

To know more about Latest Loan Modification Programs and to check if you qualify for Government Grants

Click Here --> Federal Grant For Homeowners

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Obama's Homeowner Stability Plan - How Can President Obama's Stimulus Package Save Your Home? By Luke Cambell

President Obama has come on the chair in a scenario where the US people are going through a sheer financial dip. Neither the markets are high not the economy. The statistics say that today the 10% of the home owners are facing a foreclosure. The rest 9 are soon suspecting one. The reason is simple - the income has gone down, the companies are crashing & people are losing their jobs, and the property market is also fluctuating. The house is no longer worth the amount you are paying for it.

Now Obama has come up with the Home Owners Stability Plan. Declared on February 18, this plan has come in to execution on March 4, 2009. This plan can actually help several home owners to stabilize themselves and save their homes from the foreclosure. Under this plan, the US Federal Government has issued $ 75 billion to help the home owners in need.

Here are the key pointers of Obama Home Owners Stability Plan:

· For every loan modification that the lender or the mortgage company does, they would get $ 1000.

· The Obama policy has stressed on the fact that foreclosure does not favor either of the parties, that is the borrower & the lender. So, they have indeed favored loan modifications.

· Earlier the property owners could apply for loan modification if they owned 20% of the equity. Now, irrespective of that figure, in case the current market value of your property is lower than 105% of the mortgage amount, you are legible for the loan modification.

· The monthly payments for the home can not exceed 31% of your monthly income.

· The total monthly payments made towards home, car loan, credit, etc. all together must not be more than 55% of the pre tax income.

· The Obama government has provided several counselors under the HUD department that help you negotiate with the lender at zero cost. You must prefer them over the private companies who earn loads of profits from you.

· The only limitation that you see in this policy is that all these pointers would help you only if your mortgage plan is insured or owned by the Fannie Mae & Freddie Mac.

President Obama has offered $1000 incentive for home owners that opt for Loan Modification instead of Short Sale Or Foreclosure. To know more about Latest Loan Modification Programs and to check if you qualify

Click Here --> Loan Experts

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Mortgage Modification - A Few GREAT Reasons to Modify My Own Mortgage By S. L. Welch

There are certain occasions where It might be best to have a law firm or Loan Mod Company handle the business of changing loan terms, but in a majority of cases you can easily do it on your own.

I say do it yourself, but really I mean do it yourself by following a step by step plan that shows you exactly how to change your loan terms successfully.

Here are a few Great Reasons to do it on your own:

- Here are thousands of reasons rolled into one; you will save thousands of dollars. These companies and law firms cost $1000 to $5000. That is a lot of money. If I had $5000.00, I could just send it to the mortgage company. I do not have that kind of cash right now, so this option is ruled out.

- The second reason is this, YOU CAN DO IT YOURSELF. Most people think hmm I DO NOT KNOW HOW TO DO IT. Realize this, most loss mitigation companies did not know how just a year or two ago. They learned though. They followed a step by step set of instructions.

- This is an important one too; NOBODY will ever care about your home as much as you do. As long as you are armed with the right step by step plan, you can do it AND nobody will be as persistent as you and nobody will care as much as you. In your mind, you are not just a number. In the mind of some loss mitigation company employee, you are just one of thousands that need a mortgage modification. They know if they throw enough deals against the wall, some of them are bound to stick. When things get tough, they may just put YOUR HOME LOAN MOD on the back burner. This is sad, but true. These companies are swamped.

With our STEP BY STEP GUIDE TO Modify Your Loan, It is so EASY to accomplish it is staggering. Visit our website at HomeLoanHelp.vfgfair.com

Chase Loan Modification Help - DIY Tips & Guidance on Chase Loan Approval Process By Sani Orman

Worried and confused about how to get your loan modified? Your search ends here! Chase has come up with an amazing and easy loan modification program. This Program is specially designed for those who are unable to repay their loan due to financial crisis and market scenario.

This program has some great features like waived late fees, reduced interest rates and alterations in tenure. Chase Bank is also offering change is loan amounts according to the customer's requirement.

Now you can plan your loan modification by yourself. Certain DIY tips and guidance on Chase approval process are:

• You should never contact the lender before getting the complete information about the process and needs of the lender for sanctioning of the mortgage.

• Wasting your time talking to every person who calls you for modification is your own loss. These callers are not from the companies and processing the application is their target. So make sure you are speaking to the lenders official only.

• Proper knowledge about the lending company is necessary. You should never pay any kind of upfront fee for getting your loan sanctioned, if you do not know about the stability of the company, the license etc.

• Providing fake information can lead to application denial. You should know that the lending agency will get to verify you inside out. So the information you provide on the application form should be true. May it be about your income, your properties, your debts, but it has to be genuine.

• Before sending an application, you should read the guidelines carefully in order to meet the criteria. If you send incomplete application, there will be a delay in the process and also at the later stage you get to know that you do not fit into the bank's criteria of lending money.

To know more about Chase's Loan Modification Program and to check if you qualify

Click Here --> Chase's Loan Rate Modification

Stay in Your Home and Save Your Credit. Get Free Consultations on Chase's Best Loan Modification Program.

Click here ---> http://www.LoanRateModifications.com

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Mortgage Loan Modification Programs - Which Program Do You Qualify For? By Susan V. Gregory

Struggling borrowers looking for help with a mortgage loan modification program may be confused about what type of program they may qualify for. No wonder, with so many new announcements from lenders and the Feds about various government sponsored and independent loan modification programs, borrowers may find themselves scratching their heads and wondering where to start. Here is some helpful information on the basic programs available to homeowners:

1. Fannie Mae streamlined modification program (SMP) is a mortgage loan modification program for borrowers who have a loan owned or serviced by Fannie Mae. This applies to most conforming loans and has been implemented to reduce the monthly payments of qualified borrowers to equal 38% of their gross monthly income. This is done by lowering the interest rate to as low as 3%, extending the loan term and forbearance of principal. There are certain qualifications for this program that you can learn more about.
2. FHA Partial Claim mortgage loan modification is available for homeowners whose loan is insured by the FHA. Under this program, a deferred "silent" loan is used to cover the arrears and bring the loan current. No payment or interest is due on this loan until the home is sold or the loan refinanced.
3. Individual lender mortgage loan modification programs offer various options for qualified borrowers to lower their monthly payment to an affordable amount. This may be accomplished by a reduction in the interest rate, an longer loan term, principal forbearance or a combination of all of these options. Each lender has their criteria that must be met for a loan modification to be approved. You can learn about lender guidelines and how to increase your chance of success.

Millions of homeowners are facing foreclosure-but help is available for borrowers who know how to get it. Why are some homeowners denied a mortgage loan modification while others are approved? If you are interested in contacting your lender to see if you qualify, make sure you have a good general understanding of the qualifications and guidelines for approval before you submit your application. Billions of dollars have been allocated to help homeowners just like you-don't wait-get started today so you can get back on track.

You can get the help you need to understand mortgage loan modification programs by ordering and downloading The Complete Loan Modification Guide. This is a low cost, easy to read handbook that will provide you with everything you need to prepare a professional and acceptable loan modification application. You are provided with all of the necessary forms and given detailed directions on how to complete them properly. The Complete Loan Modification Guide will take you step by step through calculating your debt ratio, completing the financial statements, writing your hardship letter and then putting it all together to submit to your lender. Get started today on the path to secure home ownership, order and download The Complete Loan Modification Guide.

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Loan Modification Forms - How You Complete Them Means Approval Or Denial By Susan V. Gregory

Struggling borrowers needing help to lower their mortgage payments need to learn how to find and complete the required loan modification forms. Every lender requires a borrower to submit an application that includes the required loan modification forms. Why are some homeowners approved for a loan workout while others are denied? The secret is knowing how to prepare the application forms properly so that they will meet the lenders guidelines for approval.

What are the required forms and where can you get them? Below is a list of the loan modification forms that most lenders will require to consider your application:

1. Borrowers Statement: This is an information sheet that includes the borrowers basic information, like name, address, social security number, dependent information, job history, etc.
2. Financial Statements: This is a snapshot of your current financial situation that itemizes all of your income and expenses each month. This is where you demonstrate to your lender that while the current mortgage payment is a hardship, the new lower modified loan payment will be affordable.
3. Hardship Letter: You must prove to your lender that you have or will suffer a financial hardship causing the current mortgage terms to be unaffordable. A compelling and convincing letter will help your lender to decide in your favor.
4. Submission Cover Sheet: Use this form to tell your lender what new loan terms and mortgage payment you are requesting. When you prepare your target payment ahead of time, you will be able to negotiate with your lender to achieve the new payment that will be affordable and sustainable for your family.
5. Rental Schedule: Use this form if you have investment or rental properties to show the bank the monthly cash flow and equity position.

The secret to a successful application is to complete the required loan modification forms so that you have met your lenders guidelines for approval. You must take the time to learn those guidelines and know how to prepare your forms properly so that you will have the best chance of success. Even the most deserving borrower may denied the help they need if their loan modification application is not completed properly. Make the decision to become informed and be prepared so that you can have a fighting chance to save your home. This is to important to leave to chance-thousands of homeowners have already gotten help and you can too!

Fortunately you do not have to try to figure this out by yourself-you can get the help you need to understand the mortgage loan modification process by ordering and downloading The Complete Loan Modification Guide. This is a low cost, easy to read handbook that will provide you with everything you need to prepare a professional and acceptable loan modification application. You are provided with all of the necessary forms and given detailed directions on how to complete them properly. The Complete Loan Modification Guide will take you step by step through calculating your debt ratio, completing the financial statements, writing your hardship letter and then putting it all together to submit to your lender. Get started today on the path to secure home ownership, order and download The Complete Loan Modification Guide.

For more information about mortgage loan modification, please visit us at: http://www.myloanmodificationcenter.com

How to improve your credit score (Part 1 of 5) by Robert H

This will be a blog that is going to tell you in detail what you personally can do to improve your credit score. Each part will give you details on how you can repair your credit score and work to get it improved

Part One

Accuracy is the most important place to start with your credit report. You must take the time to go over every piece of information and make sure that it is reporting accurately. It seems that most people don't understand how information that is inaccurate can hurt your score, but it can. If you have dates being reported that are not accurate, it may hurt your score by reducing how long you have had your credit. Even dates are extremely important to be showing accurately.

Watch to make sure that if you made some late payments that they are being reported accurately. If you had an agreement with a creditor regarding a late payment and that it would not be reported, check to see if they are reporting the late payment. Dispute any information that is not reporting correctly.

Pay attention to any information that is doubled up. For example, if you had an account that was turned over to a collection agency, you want to make sure that the original account is showing that it has been charged off and given to a collection agency. Otherwise, it will show as two open accounts for collection and that will hurt your credit score more.

A collection account generally means that it is listed at least twice on your report. Sometimes that account gets passed or sold to other collection agencies and then it can be reported as many times as the new collection agency gets involved.

If your address is incorrect or other personal information is incorrect that should also be reviewed. Disputing personal information is good when it is inaccurate. Addresses that are reporting but you have never lived at could mean that you were a victim of identity theft. But it could mean that your account was just merged with another account. Take the time to make sure all of the information being reported is your information.

Make a list of information that is needing to be disputed. This will help you when you dispute or if you work with a credit repair company that is going to dispute for you. A Credit Repair company will only be able to dispute what you tell them to dispute. Credit Repair companies will use many different ways to dispute the information you tell them to dispute but you must tell a legitimate credit repair company what needs to be disputed.

Ovation Credit has your case file online and secure. Once you have accessed that information you will be able to advise your Case Advisor what needs to be disputed and why. This helps your case advisor know what strategy they want to use in the dispute. Once you have accessed your case file online, you can go to Dispute Manager and complete your disputes. Ovation Credit Repair have Case Advisors that can discuss and go over your disputes to make sure you are disputing everything that needs to be corrected.

So begin by working on your credit score by getting your credit report accurate.

Next - Late Payments

Ovation Credit Services offers personalized credit repair solutions for individuals seeking to rehabilitate their credit profiles. Founded by attorneys, Ovation has helped over twenty thousand people overcome bad credit.

How to improve your credit score (Part 2 of 5) by Robert H

Once you have your report accurate, then it is time to start working on what you can do to improve your credit score. Think of today as the first day of your "new" credit history. Start today by making sure you are doing everything you can to help your credit score. Make every payment on time and in full. This will help you because if you start today, then you basically won't have any negative information on your report after seven years if you can't fix anything. Only a bankruptcy can be reported longer than seven years so you should know that even if you can't change or fix anything, then seven years from today there could be no more negative reporting information.

Does that mean you will have a credit score above 700? No, because your credit score is based on many factors. The type of loan, length of loan and high balance will all have a factor in your credit score.

But here is the next part you can work on today to help your credit score.

Late payments

If you have late payments being reported to your credit report, then you should work to get them reduced or removed from your report. The older the information the easier it is to get removed from your report.

Talk with your creditor first, by talking with the creditor regarding late payment history that is old, you may just get them to remove that information from your report. Many times they will remove the information and ask that you dispute the information with the credit bureau. Then the creditor will update your information and hopefully take away your late payment history. This will help your credit score.

Now if you have late payment history and you talk with the creditor but they won't just remove it, ask them if they will re-age the account. If they receive payments on time, they might be willing to remove your late payment history. But it is important that you make sure that no matter what that those payments are made on time. If the creditor agrees to re-age your account (and they may only be willing to do it once) take care to make sure that you follow their instructions.

Some credit bureaus report for up to 48 months. This is what you should discuss with your creditor as if your late payment history is recent it will hurt your credit score more. Late payments over 1 year old are causing less damage than one payment that is showing late within 6 months.

So try to get your late payment history removed or reduced. Don't pay anything late as it really does hurt your score. Then work with your creditors to try and get your information updated so that you don't have any late payments.

Next - Collection Accounts

Ovation Credit Services offers personalized credit repair solutions for individuals seeking to rehabilitate their credit profiles. Founded by attorneys, Ovation has helped over twenty thousand people overcome bad credit.

How to improve your credit score (Part 3 of 5)

First you worked on getting your credit report accurate, and then you worked on your late payment history. If you have completed those things, then your credit score should have improved. Remember, you did not get a bad credit score over night so repairing your score won't be accomplished that quickly either.

Now it is time to start working on any collection accounts.

First, make a note of each account and compare it to the original account. Once a creditor turns the account over to a collection agency, they should be reporting that the account is charged off or closed. You would prefer to have them report it as closed but they have the right to report charged off or turned over to a collection agency.

Next, you should work to get them resolved. If you owe the money, then work a payoff with the collection agency and have them remove their information from the credit report. They are not required to remove the information when you have paid the account off, but it never hurts to ask for that in the negotiation. But when collection accounts have been paid and are now closed, it will help your credit score over the course of time. An open account keeps your positive information from overriding the negative if they are left open. But a closed account will stop doing any additional damage if it is closed.

If you have some very old accounts you may not want to dispute or investigate them. After seven years negative information will come off your credit report. But if you dispute or investigate a very old account they may update information and cause a change to the date it would drop off. Then you would be in a worse situation than if you had left the account alone. But again, with a very old account, you might be able to negotiate a removal if you were to pay the balance. The collection agency might see that you would be willing to pay off an old account if they remove the negative information but may not get anything if they don't. If the account is close to the seven year mark, then they are more willing to jump at the chance.

For the future, don't allow anything to go to a collection agency. If you talk with your creditors generally you can work out an agreement to keep it from going to collections. Then the only negative information being reported is from the original creditor. But if you allow things to go to collections, you get at least two negative things being reported, one from the original creditor and one from the collection agency.

Next - Judgments

Ovation Credit Services offers personalized credit repair solutions for individuals seeking to rehabilitate their credit profiles. Founded by attorneys, Ovation has helped over twenty thousand people overcome bad credit.

How to improve your credit score (Part 4 of 5)

Now you have got your credit report accurate, worked on late payments and have cleaned up your collection accounts. It is time for you to work on any Judgments that have been recorded to your credit report.

First of all, judgments are basically shown in two forms on your credit report. They are open or closed. Open judgments mean that they are actually in the process of collecting the money ordered by the court. A closed account means that they have collected the money and have closed the open judgment.

From a creditor's standpoint, you don't want to see either, but you want to see them closed if they exist at all. So the best option for you is to work to get these accounts closed. Working to get them paid off and completed will be your best bet in accomplishing this.

Now once the judgment is closed it will help your credit score and like other items will only be able to be reported for seven years. This means that eventually you will not have any judgments appearing on your credit report.

You might be able to negotiate a judgment if you have currently made arrangements to pay it over time by offering a lump sum. Don't offer it unless you have the ability to pay it immediately as the holders of the judgments want full payment. If you can you might be able to negotiate it from your credit report by making payment in full and ahead of schedule. But this is not often the case.

Finally, remember that a judgment can be disputed just like everything else on your credit report. If any information is inaccurate or misleading, please dispute it. Many courts don't have the time to fully investigate and that judgment might drop off your credit report. Dates and balances are often wrong due to partial payments or information being incorrectly reported to the credit bureau.

Next - Bankruptcies

Ovation Credit Services offers personalized credit repair solutions for individuals seeking to rehabilitate their credit profiles. Founded by attorneys, Ovation has helped over twenty thousand people overcome bad credit.

How to improve your credit score (Part 5 of 5)

Bankruptcies are generally the most difficult thing to work with on your credit report. But they are not impossible to clean up or get removed from your credit report.

If you have done everything in parts 1-4 you should have seen a jump in your credit score. Now you are preparing yourself to take on cleaning up a bankruptcy. First review the bankruptcy information that is being reported to the credit bureau. Make sure that everything is completely accurate. Because bankruptcies can be reported on your credit report for up to 10 years, depending on the type of bankruptcy that was filed. Generally, they report for seven years, but have the right to be there for up to 10 depending on circumstances. Talk with your attorney regarding this information.

But if you have a bankruptcy that has any information that is inaccurate, dispute it. Most of the information is generally inaccurate because it may have not been updated or had correct balance information. If the bankruptcy is very old (more than five years) you should review it even more closely due to information that never got updated over the course of time.

Many courts do not have the time to research bankruptcies and could fall off during the investigation, but you must make sure that these above everything else are reporting accurately. Any accounts that were included in the bankruptcy must show as closed or included in the bankruptcy. That will help an already damaged credit score because of the bankruptcy. If an account is not reporting as closed or included in the bankruptcy, then it is viewed as an account that was not involved in the bankruptcy and is hurting your score more.

So make sure that all of the accounts that were discharged in the bankruptcy are showing such. Then verify that the information they are reporting is completely accurate. Then review and check the information on the bankruptcy. Dispute any information that is inaccurate or misleading. Talk with your case advisor if you have any questions.

Bankruptcy damages the credit score badly, but with time the damage can be minimized. Think of starting fresh and don't get yourself into the financial trouble that caused you to file bankruptcy. Additionally, think about taking some money management courses to help you understand what mistakes you made and what you can do in the future.

Credit is about the future and cleaning up your past can help your future. Good Luck!

Ovation Credit Services offers personalized credit repair solutions for individuals seeking to rehabilitate their credit profiles. Founded by attorneys, Ovation has helped over twenty thousand people overcome bad credit.

Credit Score Needed - Buy a Home by Jessica Lamber

If you have a credit ranking in the range of 720-750 you will get a great interest rate and great overall loan. If you have a large down payment and a good credit history, then you will certainly get the best loan available!

For the rest of us, we will have to spend a little time working on our credit. These days a lender has to do a lot of investigating to see if you are a credible applicant to give a loan to. Lenders will probe your credit report for late payments, missed payments and judge you based on your debt to income ratio.

You could be approved for a loan with scores ranging from 620-650 but it will not look nice on paper. You will be at the banks mercy to pay large amounts in closing costs, extremely high interest rates and usually other fees as well.

Don't despair, there is simple things you can do to quickly put you in a better loan attaining position. First you will need to obtain a copy of your credit report. Check for any errors or old information to be deleted.

Next, you will want to determine out your debt to income ration since this is important information lenders look at. To fix it a little you can start paying off debts or try to earn more money. By increasing your pay and post it towards your balances you will be in a great position even faster.

Why is there such a huge difference with in the last few years in the housing market you ask? It is easy to see what went wrong and who is to blame for such an awful economy.

The American government gave full control and confidence to the banks for their lending capabilities. Lenders were greedy to make extra money that they massive loans to irresponsible and unqualified applicants.

It was simply way too easy to get quickly approved for a home loan back then. As long as you could provide a viable credit score lenders would make you an offer. All you had to do after that was decide how to decorate.

Today a lot of those people are struggling to repay their home loans. This in turn has created a huge collapse in our economy. Americans are not making payments and are finding themselves in a foreclosure or bankruptcy situation.

It extremely important to be aware of your credit situation before you apply for a home loan, especially in today's economic crisis. Don't settle for just a loan approval.

Take the time to improve your credit situation so you qualify for the best loan possible! Do your homework and you will be ecstatic with the money you will save.

For a free credit consultation call 1-866-246-7311. To learn how to remove a credit charge off or to learn how to remove bad credit from debt collectors such as LVNV Funding.

Does Obama Really Give You Free Grant Money? by John Kleine

In 2008, almost seven hundred billion dollars had been commissioned for government grant and dubbed “bailout money� to those suffering in financial crisis, in debt and in danger of losing one of their most valuable assets, their house.

This year, Obama is in the process of approving more than eight hundred billion dollars to assist these consumers in their quest to maintain financial health. There are billions of dollars available and millions of people that are living in the United States shouldn't you take financial responsibility and apply forone of these grants that can you to get on the path to a happier future? There are various types of government grants available, which range from:
* Government grants to assist homeowners facing foreclosure
* Education grants for those students asking for assistance while attending post secondary school * Debt repayment grants or debt relief grants which were created for consumers to repay debt and alleviate the stress that is placed on the finances by debt
* Personal grants which can be used at the discretion of the applicant
* Home improvement government grants which allow the homeowner to increase the equity in their home by completing home renovations
* Small business and home business government grants which allow homeowners to open a small business in their home up to fifty thousand dollars There are many benefits to these grant programs, these include:
* There have been no limits imposed on the amount of grant money that an individual can apply for. A householder can apply for a grant to repay the mortgage if they are in danger of facing foreclosure and then take advantage of grants offered to adults that wish to attend school and further their education
* Government grants are completely forgivable and do not require the repayment that comes with other sources of funding including traditional loans, lines of credit and other sources of high interest debts.

Applying for these grant programs is easy! If you are living in the United States and over the age of eighteen chances are that you will be receiving a type of grant in the future referred to as an economic stimulus grant which can allow the individual to have up to one thousand dollars to put towards repaying bills or spending within the marketplace. The purpose of this grant is to promote spending and shopping and stimulate the economy. I am positive that everyone would love an extra thousand dollars and this is only one of the many government grants which are available to individuals.

We are living in a time of economic crisis when people are holding on to their last dollars as tight as they can. With job loss and property foreclosures at an all time high the government has realized that they must take these steps, such as offering these grants to individuals to ensure that we stay financially healthy and reduce the damages which are being done to the economy because of the state of our current economic climate.

Apply for a grant from the government today! Whist the auto industry and the banks are getting bailouts, it is worth noting that the Government does give money out to people like you. Millions of $$$ are available in free stimulus grants - get your grant kit today