Credit repair after foreclosure - time is the only help
Tue Jul 8, 2008 12:07PM
Q: I was foreclosed on my rental property 3 months ago and now can't refinance my own home. My credit is very bad with scores of 412, 458 and 467. I also had few other missed payments on credit...Increase your credit score by lowering revolving balances
Thu Jun 26, 2008 12:06AM
Those include credit cards, department store/gas station cards and home equity lines of credit. Keep each balance below the 35% of credit limit for each revolving line. And if possible, open an additional credit card and don't use it....Two 30 day Lates with one 60 day Late
Fri Jun 20, 2008 04:06PM
Q: What is worse for the credit score - two 30 day late payments four months apart or one 60 day late payment? A: I would say the 60 day Late is worse....Leased car repossession
Fri Jun 20, 2008 04:06PM
Q: Can a leased car agreement reported as repossession if I am three payments behind? I was told to bring its current immediately, other wise they are taking the car away and report it repossessed. A: Contract is a...Does student loan in deferment affect credit score?
Wed Jun 18, 2008 04:06PM
Once student loan in deferment appears on your credit report, it becomes a part of your credit history and is a part of credit scoring formula. It takes into account hard inquiry, loan amount, etc....Bad credit today isn't your bad credit of yesterdays
Thu Jun 12, 2008 01:06PM
Bad credit may come in many forms these days. Several clients were looking to buy new cars, trying to take advantage of some excellent deals offered recently by Acura, Lexus and GM. Some applied for financing with Honda Financial, Lexus...Bad credit cards - unsecured credit cards for consumers with bad credit card
Sun Jun 8, 2008 06:06PM
Unsecured bad credit cards represent a perfect credit repair tool for consumers with bad credit. Also excellent way to establish credit for many, these credit cards are offered by several banks. For someone with less than perfect credit, the South...Get credit card from your bank or credit union
Tue May 6, 2008 11:05AM
If your credit scores and history are at the point where you are thinking to apply for a regular credit card, the best places are your bank or credit union. Open a checking account unless you have one already...When judgement is removed for sure?
Sun May 4, 2008 02:05PM
Q: I am confused as far as judgement removal goes. Will a judgement that is unpaid be removed from a credit report after 7 years, or will it only be removed 7 years AFTER it is paid? A: Again,...Bad credit with unpaid judgements
Wed Apr 30, 2008 04:04PM
Q: How long do unpaid judgements remain on the three major credit reporting agencies files? How bad my credit scores will be affected? A: Unpaid judgements are straight way to the bad credit, well I'd say to the credit...Old 30 and even 60 day 'Lates' will not affect credit scores too much
Sat Apr 26, 2008 09:04AM
Q: I have one 60 day late from 02/02 and two 30 day lates on paid off and closed Honda Financial credit account from 06/05 and 09/06. I have tried everything to remove them, but credit agencies always get...Paying down credit card balances will increase credit scores
Fri Apr 25, 2008 12:04PM
If you want to increase your credit score and have few dollars to spare, paying down credit card balances may be the shortest way to do it, provided you don't have late payments, collections and other derogatory records. Basically,...Statute of Limitations on debt vs. credit reporting time limits
Wed Apr 23, 2008 04:04PM
There is a confusion among consumers between the Statutes of limitations and credit reporting time limits. The statute of limitations or SOL is a time limit for creditor to file a lawsuit to recover delinquent debt. This period starts...Piggyback credit score is practically over
Thu Mar 27, 2008 11:03AM
Q: Can I still piggyback my credit scores? I heard that it has become illegal? Two of my friends can add me as an authorised user to their credit cards. A: While I don't think piggybacking credit scores is...Credit card debt in collection
Tue Mar 25, 2008 09:03PM
Q: I have got a $4,700 credit card debt in collection. That was an old American Express card, that went to a collection agency roughly 8 months ago, and I am about to start paying it. The problem is...Texas debt collection, credit card debt, credit repair
Thu Mar 20, 2008 02:03PM
Q: I live in Texas and have about $22,000 in credit card debt which I haven't been able to touch for 2.5 years. Now I am making quite a bit of cash. All the debt was sold to various...60 Days Late on car loan 18 months ago
Thu Mar 6, 2008 09:03PM
Q: I have a car loan which has been paid in full since 3 months ago. 18 months back I was 60 days late once. All three credit reports now show this tradeline as Paid In Full, while also...Repossession on a credit report and cosigned car loan
Wed Feb 27, 2008 03:02PM
Q: I cosigned for a friend car loan in 2004. The car was repossessed in a middle of 2006, I learned about only now when I pulled my credit report. The repossession is there, all right. All relevant accounts...Credit repair agency and credit repair services offer help or do they?
Wed Feb 27, 2008 01:02PM
We always say that the best credit repair service you can find is yourself. While there are occasions when you think you need to hire a third party credit repair agency, few if any deliver on their promises. Most will...Credit repair and higher credit scores trigger debt collection and lawsuits
Thu Feb 21, 2008 03:02PM
If you have bad credit accounts, e.g. late payments, charge-offs, unpaid medical bills with the statutes of limitation still not expired, and you are not gunning for a major purchase that require new credit, it is often wise to...MedFICO credit score is coming
Sun Feb 10, 2008 01:02AM
A little Massachusetts startup got 10 million dollars from Fair Issac Corporation. Healthcare Analytics is developing a credit scoring system for health care, which should aid hospitals in assessing a patient’s ability to pay their medical bills. Another investor...FICO 08 revisited - your FICO score may increase in 2008
Tue Jan 29, 2008 02:01PM
Recently, an 'improved' version of FICO was introduced, the FICO 08. The new FICO 08 is already being implemented by Experian, and TransUnion expects to have the 08 scoring model available for lenders to test during the second quarter of...Credit crunch UK style
Mon Jan 28, 2008 10:01AM
The problem with credit and credit crunch in UK is not better if not worse than in US. Gone with the wind the hey days of mortgage lending and credit card bonanza. According to the Fool UK, 1 out...CLOSED account status
Wed Jan 23, 2008 10:01PM
Q: What does "CLOSED account status" mean, and how long can this stay on your credit report? A: CLOSED can mean few things, but normally, CLOSED accounts are accounts that are no longer available for further use. Closed accounts...Credit fraud: personal information on 650,000 customers lost
Thu Jan 17, 2008 10:01PM
How do you like that one? Just like that, a backup tape containing personal data on some 650,000 unfortunate consumers is missing. Mostly the customers of J.C. Penny and about 100 other retailers that used GE Money to handle their...FICO 08 redefines bad credit score & good credit score - new credit scoring system
Fri Jan 4, 2008 03:01PM
Credit repair can be redefined with arrival of FICO 08 credit scoring system. FICO 08 is the newest credit score model being developed by Fair Isaac Corp., maker of the popular FICO credit score used by most lenders. By...Reestablish credit after foreclosure, bankruptcy, divorce, job loss - how to rebuild credit
Thu Dec 13, 2007 11:12AM
In response to quite a few questions on how to reestablish credit after certain life changing unfortunate events including but not limited to foreclosure, bankruptcy, divorce and job loss, Bad Credit Advisor assemble several excellent sources for your reading....Debt to American Express, collection agency and debt negotiation
Fri Dec 7, 2007 11:12PM
Q: I have $3,200 in debt on an old American Express, it went to a debt collection agency that I just about to start paying. My credit report shows the $3,300 debt to the AE and then another $3,300...Credit repair with unsecured loan and cosigner, and the buyer market
Mon Dec 3, 2007 03:12PM
The following is the recent exchange with the person looking for credit repair. He wants to fix bad credit to be able to buy a house and do it ASAP, in a fear of missing buyer's market. It illustrates...Can I remove Charge Offs before the time limit?
Wed Nov 21, 2007 08:11PM
Q: I've just begun the task of cleaning up my credit report, and your blog has been so helpful thanks, but I do have a question - If I have a charged off credit card account which is 4...Credit report freeze - latest news and developments
Fri Nov 16, 2007 10:11AM
From November 1 of 2007, consumers in all 50 states should be able to freeze credit reports at all three major credit agencies to prevent identity theft. By that date, all three major credit bureaus will offer security freeze...Credit report shows Ex bad credit records
Tue Nov 13, 2007 08:11AM
Q: I have just received a copy of my free annual credit report and found several negative credit records that were not mine. These records belong to my husband ex-wife, who has a very similar, albeit spelled differently name....Illegal debt collection practices - the debts discharged in bankruptcy years ago magically reappear - do creditors forget to update credit reports on a purpose?
Fri Nov 2, 2007 10:11PM
Illegal debt collection has been going on since probably the first collection agency got its licence. But when it comes to respected banks and credit card companies, the whole idea of illegal debt collection practices seems so remote that...Charged off debt is reported 3 years after
Tue Oct 16, 2007 11:10AM
Q: I had this debt charged-off 3 years ago. Now all three of my credit reports show the Olympic Collection agency reporting the account as OPEN with opening date 2 months ago. Is this re-aging? A: No it is not,...Combination of FICO and greed is the real culprit of the mortgage mess
Fri Oct 5, 2007 12:10PM
You know what any mutual fund or other investment disclosure says - past performance doesn't guarantee future gains. Forget about 'sub prime this', 'sub prime that', in the end, the sub prime mortgage will remain a sizable but not the...Repairing your credit score - go for a higher FICO score
Mon Oct 1, 2007 01:10PM
With all the ongoing credit mess lenders have raised the credit score ranges you need to qualify for the best rates and deals, and simply to be able to get a loan. Before the subprime mess, a FICO credit...Credit limit shown on Experian report
Tue Sep 11, 2007 04:09PM
Q: I have a question regarding my Experian credit report. When viewing it, and I am a freecreditreport subscriber, it shows that my available credit is 0%. When in reality my available credit is over 30%. The reason is...If I live in Texas I can't freeze credit until I've been a victim?
Mon Sep 3, 2007 12:09AM
Texas law regarding credit report freeze changed. If you are a victim, you pay no fees. Here how the credit freeze law is explained: Any consumer in Texas may request a security freeze in writing by certified mail to...Charge offs and credit reporting time limit
Tue Aug 14, 2007 08:08PM
Q: How long does a charged-off debt remain on a person’s credit report? A: Charge-Offs stay on a credit report for 7 years. The time runs from the date of the delinquency, plus 180 days. If payment was due...How soon credit score is restored
Thu Aug 9, 2007 11:08AM
Q: How soon after I pay off all my debts is my credit score restored? Is it immediately? A: No, it will take anywhere from few to several months, depending upon factors like how old is your credit history,...Closing credit cards and credit scores
Wed Aug 8, 2007 10:08PM
Q: I have four open credit cards but I only use one. Would my credit score increase if I close two of these accounts or will it hurt my credit score? A: This is not a Yes or No...I am looking to repair my credit
Mon Aug 6, 2007 01:08PM
Q: I am looking to repair my credit. I understand that is going to take a few years, but I would like to do it as intelligently as possible, and as quickly as possible. I owe $8,000 to assorted...Paying off collection accounts while repairing credit history
Wed Aug 1, 2007 02:08PM
Q: I just got married 3 weeks ago and am wondering how my poor credit and the 3 accounts that I have in collections will now affect my spouse's and our joint credit. I had financial problems earlier and...Credit repair and buyer's market
Thu Jul 26, 2007 03:07PM
Call it a poetic justice, or call it what you want, but with what is happening in the real estate, those of you who felt priced out of home market for a long while, are having the last laugh....Repairing bad credit - credit report problems to look for
Tue Jul 24, 2007 01:07AM
Q: Can you give few more details what exactly to look for at the credit report? I got mine and it looks very confusing. A: Here are few more details what to look for while repairing bad credit. Most...Repairing bad credit - second step
Sun Jul 22, 2007 04:07PM
When you receive credit report, check the following information in the order of importance: - your full name, and any previous names, also paying attention to the middle initials and suffixes like Jr., III and so on - Social...I want to repair my credit and do it cheap and fast. How?
Sun Jul 15, 2007 10:07PM
That was a real question posted by a reader. Lately, quite a few people send emails about struggling with their adjustable mortgage payments and falling into bad credit situations, as many have to really pick and choose which loans...Bad credit repair and "no money down" home purchase.
Wed Jul 11, 2007 04:07PM
Q: How bad can be my credit score if I am planning to buy a house with no money down? I checked with few lenders, and getting somewhat conflicting answers. I make enough money to show my income and...Erasing bad credit history
Wed Jul 4, 2007 07:07PM
Q: My credit history is very bad. I was late on my car and credit card payment more than few times. I want to buy a house but was turned down by four banks and mortgage companies. The last...Ex wife ruined credit, am I liable and how to fix my credit score?
Wed Jun 20, 2007 10:06PM
Q: I divorced several years ago. A few years after the divorce I found out my ex wife had two credit cards, one with me as the primary card holder, the other with me as an authorised user. Our...Repair credit score for the right type of loan
Wed Jun 13, 2007 12:06AM
When trying to repair credit score, the majority of consumers think of five main components which influence credit scores in the following proportions - Payment history including late payments, bankruptcies, collections, judgments - 35% Current debt expressed as the...With established credit, will the credit score increase or decrease if credit cards are closed
Fri Jun 1, 2007 01:06AM
Q: I established my credit a while back, and I have several lines of credit - mortgage, car lease, student loans and four credit cards. I only use two credit cards with better rates and higher limits. So it...Equifax, Experian and TransUnion - phone numbers
Mon May 14, 2007 03:05PM
To continue with your credit repair process, after getting your credit report, you have to contact the credit reporting agencies. We have to stress that the best and fastest way to contact any or all credit reporting agencies is online....Credit repair first step - disputing credit report errors
Wed May 9, 2007 03:05PM
As I wrote on credit repair before, it could be time consuming and frustrating, but in today's economy, credit repair is more important than ever, as it gives you many lucrative opportunities in finance and real estate. And disputing...Credit dispute: the same repossession shown twice ...?
Fri Apr 27, 2007 11:04PM
Q: I cosigned on an auto loan back in November 1999. My ex took the car and was making the payments. I found out through a friend that the car was repossessed in early 2001. I have never been...Identity theft in TJ Maxx - the largest identity theft ever
Thu Mar 29, 2007 04:03PM
This has just come out - 'at least 45.7 million credit and debit card numbers were stolen from the computer systems of TJX Companies the discount retailer announced late Wednesday. At least half, if not all, the transactions made between...Credit repair and establishing credit are becoming critical - don't be left behind
Tue Mar 6, 2007 10:03PM
As we are about to finish the first quarter of 2007, several things have become apparent. First, as we wrote in the very recent article, "Bad credit soon to be redefined?", the days when literally everyone could get a loan,...Bad credit will soon to be redefined?
Fri Feb 9, 2007 05:02PM
Those of you who think that your bad credit isn't quite bad, may get a shock quite soon. As anyone with bad credit knows, it is difficult to obtain a loan, never mind home mortgage. Several sub prime lenders have...Pennsylvania credit report freeze
Tue Jan 2, 2007 03:01PM
Pennsylvania credit report freeze has been in effect for the second day now, it applies to all consumers, $10 to place, but no fees for identity theft victims or seniors 65 years. Credit report freeze lasts 7 years. See also...Wisconsin credit report freeze
Sun Dec 24, 2006 01:12AM
Wisconsin credit report freeze legislature takes effect on January 01, 2007. The fee is $10 with each credit reporting agency to place, thaw or remove freeze. No fee for a someone who can prove that he or she has reported...Car repossession and credit report
Sat Dec 9, 2006 12:12AM
Q: How would the repossession of a vehicle affect a persons credit? This is a result of a divorce settlement that one side was told to pay off a vehicle. The vehicle is in both names. The loan value...New York credit report freeze
Thu Nov 2, 2006 12:11PM
Residents of New York are now able to lock their credit reports. First time credit report freeze is free for everyone. After the first request to place a security freeze on your credit file, the credit reporting agencies may...New Hampshire's credit report freeze law becomes effective January 1, 2007
Thu Oct 26, 2006 02:10PM
By enacting the credit report freeze legislation, New Hampshire follows similar laws passed in one form or the other by 14 states. The first original 12 states that passed credit report freeze followed by South Dakota and Minnesota. You...Chase MasterCard problem
Mon Sep 11, 2006 09:09PM
Q: I have a major problem with Chase MasterCard. In 2001 my brother added me to his Chase MasterCard account as an authorized user only. The account was never late and in excellent standing. Somewhere in 2004 he decided...Cosigned loan is defaulted
Mon Aug 28, 2006 12:08AM
Q: I have an issue with my credit, and I was wondering if you could advise me if I have any recourse in correcting the issue. About 3 years ago, I agreed to be a cosigner on my sister's...Credit repair - fixing credit agency mistake
Thu Aug 24, 2006 03:08PM
Credit repair is no fun, but at least when you did it to yourself, it is somewhat comforting. When however, it a credit reporting agency that mistakenly put incorrect information on your sacred credit report, credit repair is getting quite...How to fix bad credit
Sun Jul 2, 2006 09:07PM
Q: I need to fix bad credit, and I need to do it very quick. My credit scores are 627, 609 and 603. I was late on 2 credit card payments for 30 days each time in the last...Credit, charge-offs and statute of limitations for debts
Sat May 13, 2006 03:05PM
Q: Once a charge-off has been on your record for over 7 or 8 years and is no longer showing up on your credit report, can the creditor still pursue you for the amount owed or is it permanently...South Dakota has credit report freeze legislation
Thu Mar 9, 2006 02:03PM
The legislation Governor Mike Rounds signed will allow victims of identity theft freeze their credit reports up to seven years. It will be enacted July 1. They must notify Credit Reporting Bureaus in writing. This just came from the Rapid...Credit report repair fraud - another crackdown by FTC!
Fri Feb 3, 2006 11:02AM
Federal Trade Commission is after 20 credit report repair companies which have managed to convince many consumers that accurate and timely, but oops, negative information can be erased from their credit reports. In this credit report repair crackdown, quite appropriately...Credit Rating - how sub prime lenders rate your credit?
Wed Feb 1, 2006 11:02AM
Credit rating question from a reader. Credit rating used by sub prime lenders is not simply a credit score, but a combination of several factors. Q: I have some issues with my credit report and my scores are only...Notice of default
Tue Jan 31, 2006 10:01AM
Q: What is notice of default? A: Notice of default is the beginning of foreclosure process. If homeowner becomes delinquent on his mortgage payments for 3 consecutive months, lender will send him the Notice of Default, or NOD. The...UK lender offers credit repair mortgage
Wed Jan 18, 2006 02:01PM
Cheshire Building Society started offering credit repair mortgage to the consumers with bad credit. What's more, anyone can apply online, which is very convenient for someone who doesn't like the idea of sitting with loan officer and explaining his credit...I cosigned for my daughter, can this record be removed from my credit report?
Sun Jan 15, 2006 02:01PM
Q: I just have a question. I co-signed on a car loan for my daughter. She makes the payment solely. The balance shows up on both our credit reports. Is there a way to remove it from my credit...How to establish credit?
Sun Jan 15, 2006 02:01PM
Q: Right out of high school I opened a retail computer store front and computer repair store. I've been looking into my credit report a lot lately. My car loan is on there, but that's about it. I seem...Helpful Links
Recent Entries
- Credit repair after foreclosure - time is the only help
- Increase your credit score by lowering revolving balances
- Two 30 day Lates with one 60 day Late
- Leased car repossession
- Does student loan in deferment affect credit score?
- Bad credit today isn't your bad credit of yesterdays
- Bad credit cards - unsecured credit cards for consumers with bad credit card
- Get credit card from your bank or credit union
- When judgement is removed for sure?
- Bad credit with unpaid judgements
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