Posted on November 23, 2009 at 3:36 am Not many people spend too much time thinking about it, but every one of us, has a computer file somewhere that contains all the information that makes up our credit history. This information will include our current and previous addresses, our income level, our outstanding debt and how much extra credit we currently have available to us. It will also show things like our repayment habits, whether or not we pay bills on time and if we have had any county court judgments made against us for payment. ChecksIt will be made available to companies who wish to see it for a fee and it is surprising how many different types of companies now routinely make use of such reports. There was a time when only banks and other lenders used credit reports when deciding whether or not to give you a loan. However, these days, if you are for example thinking of renting a property, it is likely that the property agency will require a credit check in order to satisfy itself that you will pay your rent on time. Insurance companies also make heavy use of credit reports when assessing insurance premiums. Even large employers are now using credit reports to screen job applicants when they assess candidates. Therefore, it can be seen that your credit rating can have a huge influence over you and your life. It can effect many important decisions that you might never have thought would be relevant to your credit history. For instance, you may not have been too worried about leaving an old phone bill unpaid after moving house, but the consequences can be quite serious. Tips for Keeping a Healthy Credit RatingThere are some steps you can take to make sure your credit rating stays as healthy as possible. You can for instance pay your bills on time and reduce the amount of outstanding debt you have. You should also know that time is on your side because most negative elements on the report will not last forever. You have a right to view your credit report and this is generally a good idea as it allows you to make sure it is accurate. If there is any negative information on the report that is in error you can have it amended or corrected. The credit reporting company has a duty to keep all information accurate and up to date. It can make a big difference so you should always inform the reporting company of errors promptly and give them the correct information.For more information about Credit Repair log on to http://www.efixurcredit.com

Posted on November 23, 2009 at 9:57 am Credit is serious business and its tied into every aspect of life. Your credit is checked for everything these days. Car loans, rental property, even jobs now are running credit checks for employment eligibility. Improving your FICO score and fixing your overall credit is no easy task. Like losing weight, repairing your credit takes time. It took you a while to chunk on those pounds and itll take just as long, if not longer, to slim back to skinny. Debt works the same way. Nothing gets fixed overnight regardless of what most profit based companies advertise. Your credit score is determined by the following entities.

Payment history = 35 percent

Amounts owed = 30 percent

Length of credit history = 15 percent

New credit = 10 percent

Types of credit = 10 percent

Taking account of what really affects your credit, these get fix quick claims become just that- claims. The best advice is to manage credit responsibly over time. Following the order above, we can break down each entity of the credit score factors to help better assess how to really improve your credit and not get scammed into paying profiteers for promises that probably wont pan out perfectly. Ready? Get excited!!! Paying your bills on time accounts for 35 percent of your credit score! Delinquent payments and accounts with collection agencies can place a major negative impact on your credit rating. This step is crucial and requires a lot of attention and discipline on a monthly, consistent basis. Stay current. The longer you pay your bills on time the better your score will be. Amounts owed takes 30 percent, noting the second biggest factor in your credit rating. Keep your balances low. Just because a bank gave you a credit line of $5k doesn’t mean you should spend $4,987.67 and pay the minimum monthlies. Balances exceeding 50 percent of your available credit per account can take your score down quickly. Don’t rob Peter to pay Paul either. Moving debt around doesn’t help your credit score. The length of your credit history takes third place in priority, accounting for 15 percent of your score. Don’t try and open too many accounts at once in an effort to build credit. Newly opened accounts can lower your average account age and can greatly effect your score if you dont have a lot of other credit information. New credit takes 10 percent. When you decide to establish new credit, shop your rates and loan options within a controlled period of time. Completing loan and credit applications over weeks at a time can reflect poorly and drop your score. If youre shopping for deals, do it within a certain time frame and lock down your options, comparing rates and fees for services. Lastly, you need a little credit variety in life...just like a diet and dining. Apply for new credit accounts only as needed. Just to note: Getting the new xbox360 is not a need…says my wife. Opening new accounts and spending on them just to establish new credit doesn’t raise your credit score. Paying timely on your installment loans and combined credit cards will raise your score over time coinciding with the above factors. A debt consolidation program allows consumers to pay back their debts at lower rates and with the convenience of one monthly payment. The reduced interest and stopping of late and past due fees allows the consumer to bring their balances down and creates a consecutive timely billing cycle with affordable payments. By improving payment history -35- and bringing balances down -30-, a debt consolidation program can greatly help you improve credit while getting out of debt. Debt consolidation / not debt settlements. –write that down.

Posted on November 23, 2009 at 11:07 pm Why not debt settlements? They can improve your credit rating--at least in a better degree than what bankruptcy can do.

Posted on June 25, 2010 at 3:03 am This is really a good post.