Plfinder Tips to Improve Your Credit How to Avoid the Collection Agencies A Couple of Easy Steps to Implement When Fixing Bad Credit

Improving your credit is giving yourself a new lease on some of the very important aspects in your life. Plfinder Everybody needs good credit in order to obtain housing, cars and other things. Plfinder If you are one of the many who have credit issues that have to be dealt with, there are several things you can do to improve your credit. Plfinder Here are several tips on how to improve your credit. Plfinder

1. Plfinder Do your research and be aware of your rights. Plfinder There are laws protecting you with regards to your credit. Plfinder Make sure to be familiar with them so you could improve your credit score. Plfinder

2. Plfinder Check your credit score regularly and determine the layout and find out if it is correct. Plfinder There are many mistakes on credit reports and many people suffer from them without even knowing, thus make sure to check them out. Plfinder

3. Plfinder Pay down or pay off your debts immediately or arrange to pay the money in installments. Plfinder The companies you owe money to will report to the credit bureau and can raise your score if you start to pay off your dues. Plfinder

4. Plfinder Ask someone you trust such as your relative or friend who has a good credit score, that you be added to his or her account to give your credit score a boost. Plfinder Make sure you do not spend and decrease the score because this could affect both your score and the score of the person you attached your account with. Plfinder

5. Plfinder Ask for free copies of your credit report from the three major credit bureaus such as the Experian, Equifax and TransUnion. Plfinder They should be able to provide you a free copy every year upon request. Plfinder Stagger your request every four months so you could stay updated on changes and monitor your attempt to improve your credit. Plfinder

6. Plfinder Determine if there are erroneous entries in your credit report and dispute the errors through certified mail. Plfinder Keep everything in writing and keep a copy of your dispute letter. Plfinder You should be able to receive a reply from the credit bureau about your dispute request. Plfinder

7. Plfinder Wait for 30 days and get another copy of your report and review it carefully. Plfinder Review your report carefully and inquire in case an erroneous entry has not been removed from your credit report yet even if you have already filed a dispute letter. Plfinder Repeat the whole process if necessary until they are corrected. Plfinder

As you already know, your credit rating is very important. Plfinder A bank or company will be interested in how much money you make every month and your credit history and credit standing. Plfinder They want to make sure that you can be trusted with their money. Plfinder

the most common problem people looking for credit face is the rejection factor. Plfinder It is the most difficult thing to overcome, as it has a fatal impact on our credit reports and you can forget about just applying elsewhere as every single application results in a credit check being performed. Plfinder When we do this it produces what is called a hard hit on our credit reports. Plfinder

A hard hit is when a creditor or more frequently referred to as a lender. Plfinder A creditor can often be confused with collection agencies. Plfinder These are totally different as a collection agency is only using the information they are given from the lenders to collect amounts owing on your accounts. Plfinder A collection agency is only used when you credit accounts with lenders has a default which is basically when you decide not to pay them. Plfinder Not advisable. Plfinder We all always want to pay the lenders in full and on time to avoid being passed over to a collection agency. Plfinder

However, paying in full and on time is not always possible. Plfinder We all have experiences in our lives which impact on our household income and the worst of all is when we lose the financial security of a full-time job. Plfinder There is nothing worse than sailing along in life only to find the loss of a job. Plfinder The impact on our lively hoods is enormous. Plfinder This is only one of the many things that can affect our ability to pay accounts on time. Plfinder

The one thing I do that helps me, is keeping a file on my computer of all the direct debits I have along with the dates in which they will be deducted from the bank. Plfinder This helps me manage my main account and ensures I know when people are taking there payments. Plfinder Therefore, I know to keep enough there for the bill to get paid. Plfinder

The added benefit here is that should anything happen where I can't pay an account I can easily look at the file I have, and see the companies that I won't be able to pay. Plfinder

This is important as whenever you know that you can't pay an account on time it is always important to let the company know, and avoid the bank charges by asking for a postponement on you account. Plfinder It is going to save a lot of hassle just telephoning a company and saying that you can't make the payment on the due date. Plfinder Always agree on a date that they will be paid though, as they then know not to pass your account on to a collection agency. Plfinder Don't do it month after month though as the company will get tired of extending time periods and eventually pass it on anyway. Plfinder If it is going to be an ongoing problem try to agree on a reduced payment term. Plfinder Collection agencies charge companies for their services. Plfinder Companies do not want added expenses so they often agree on a different payment structure. Plfinder

The easiest way when it comes to fixing credit reports is simply the one option you will see all over the place and that is a simple dispute letter. Plfinder Many people employ the services of a professional to do this, as they feel they can't write a proper letter to address the situation properly. Plfinder

The services that are quite often advertised focus around the fact that they have irresistible letters that have proven to have negative entries removed. Plfinder But, here's the truth. Plfinder There is no such as a magic letter that does this. Plfinder

The key element is to identify the negative entries on your report and then a dispute letter is just a quick note to the credit bureau to say "I don't think this item is mine, could you please verify the information or remove it from my report, thanks in advance". Plfinder It doesn't need to be perfect. Plfinder It just needs to point the reporting agency to the information you want them to investigate. Plfinder Once they know this information they can then look into the matter. Plfinder

Regardless of how the dispute letter is put together it serves the same purpose. Plfinder Do you think the reporting agency just looks at the letter and if it looks good, deletes the item? No way! As with any business they have a procedure to follow. Plfinder One of them is investigating and responding within a 30 day time frame. Plfinder

When the dispute letter arrives with them they can go and see the company that put the entry on your report. Plfinder Ask them for supporting documents within a given time frame that the CRA (credit reporting agency) dictates to the company and explains that should they not be able to support the entry with documentation the entry will be deleted from your credit report. Plfinder

So, you do not need to be a fully pledged award winning writer to get the results you need. Plfinder

You do not always need to write a dispute letter and send it off to a credit bureau. Plfinder Another effective way of fixing credit reports is contacting the company themselves and just asking them to remove it instead. Plfinder This can sometimes work just as well and also is a good way of communication with the company. Plfinder

Credit Card for Spending Tweak Your Credit Report and Scores Can I Buy a House If I Have Bad Credit?

Flexibility is about as worthwhile in a credit card as it is in a brick. It may come as a surprise then that this week's deal is the new flexible card scheme from RBS Advanta. It's not the fact it's malleable, but that if stretched the right way it becomes the best card on the market for spending on, possibly saving you over £500, just in time for Christmas.

The RBS Advanta U scheme follows Virgin, MoreThan and Accucard in allowing customers to configure the interest rate, introductory offer and reward scheme themselves. The marketing schpiel promotes the possibility of trading features off against each other to build 'the perfect card'. It may sound good, but in reality, it's as useful as a parachute when potholing.

Even at it's maximum configuration RBS Advanta U isn't a market beater for most uses. For example, it's best standard rate, using it's Platinum card with no rewards and no intro period is 10.9%, substantially more expensive than both Cahoot and Intelligent Finance.

Thankfully for RBS, it does win in one killer category. New cardholders can configure it to get 0% interest until June, that's longer than any other card's offer, and it pays cash back of 0.75% on spending, in other words for every £100 you spend on the card it gives you 75p. The previous market leader was Egg, which is interest free until March with 0.5% cash back.

The RBS Advanta U service is only available for new cardholders who are on the internet. The best spending card for non-net users, is the standard RBS Advanta card, at 0% interest for both spending and balance transfers until June, though it doesn't pay cashback, best for existing RBS Advanta holders is Egg.

Once the Advanta U introductory rate ends, the interest shifts to it's standard rate of 15.9% to 17.4% depending on whether it's a main or platinum card and the balance transfer rate selected. These rates are very high and there's absolutely no need to pay them. Simply ensure the debt is cleared in full or transferred to another card just before the interest-free period ends. Then use either another 0% introductory offer or a low standard rate card.

Used correctly this card will save you serious cash. Spend £1,000 monthly until next June, making just the minimum monthly repayments, on HSBC's credit card at 18.9% and, credit limit allowing, it's cost roughly £500 in interest. Even Cahoot at it's 7% standard rate, the market's lowest, costs £192. New RBS Advanta U cardholders with no interest and £60 cash back from spending are overall £250 better than Cahoot and £565 better than HSBC.

Everyone knows they can pull their credit report from all three reporting agencies once a year. We also expect to get our free Vantage score from the agencies at the same time they deliver the credit reports. And most people think that requesting it more than once more a year will ding their credit report. There is only one credit score that creditors look at. You can improve your credit score by paying only in cash or with a debit card and closing any accounts you are not using any more. A poor credit report can not prevent you from getting a job. These are some of the myths about credit, credit reports and credit scores.

Busting the Myths

Credit Report Requests

A request from you to receive your credit report is called a "soft pull" and is not counted toward that agency's report. It is does not affect your credit score either. When you apply for a department store credit card and the store requests your report, that is called a "hard pull" and it counts on your report and on your score. Be careful how many department store cards you request because they do count against your credit score.

Credit Scores

There are two scores that count: FICO which comes from the Fair Isaac Company and Vantage which is the scoring system that the three reporting agencies came up with. The two scores do not have to match when applying for credit. The Vantage score is given a letter grade according the three digit number on the report. While both scores are pretty much the same in how they come up with the number, Vantage also gives a 7% edge to how much available credit one has. Editions TV has a good review on improving credit scores here.

Cash/Debit versus PLFinder Credit Cards

The fact is that using PLFinder Credit Cards and paying off the balance every month is the only way to build credit. It shows the creditors and lenders that the person is responsible in managing their credit. Debit cards and paying everything with cash does nothing for credit history. If may not be a bad idea to use a debit card for everyday items like groceries and gas, but every month buy something with the credit card which can be paid in full before the due date.

Closing Accounts

There are people who think that closing a credit account is the best way to manage the account once the balance is paid in full. Lenders look at the proportion of total balances to the total credit limits. If an account is closed, it does not look good to a lender.

Credit Reports and Employment

The myth is that a poor credit report has nothing to do with whether or not you can get a job. The truth is that Federal law allows current and prospective employers to request your credit report. Credit reports for employment purposes can be reviewed manually and never scored. There is a requirement given to employees or possible new hires which request their signature before the report can be requested. In some industries, it is necessary to request a credit report such as retail or banking. But for the most part there is no reason to run it.

Common Credit Questions

Have you always wondered how long it takes the creditor to update a paid in full account to the reporting agencies? According to Experian, it should take no more than 30 days. Remember that requesting a credit report after paying off a balance does not hurt your credit score.

Secure cards allow you to make a deposit on a card and may boost the limit on that card. For example, you get a secure card and deposit $50 as required by the card to start it. The bank which backs the card may boost the credit limit on the card from $50 to $2,000. These kinds of PLFinder Credit Cards are often cited for being a good way to rebuild credit. Just be sure to research which cards are the best.

Good credit matters in so many aspects of our life. Excellent credit gives the holder better leverage when it comes to mortgages and car loans. It makes sense to take every possible step to improve a credit report. It can be tedious and frustrating at times, but it pays off in the long run.

This article is presented by Rachel Dougherty, who is now proactive in checking her credit report and score regularly. Editions TV with Terry Bradshaw is a provocative program which shares valuable information in the topics you care about. Consumer awareness is a hot matter these days as the public is more knowledgeable products, services and the companies which own them.

Can you buy a house if you have bad credit history? The answer is, yes. It is possible to buy a house or get a home loan despite bad credit. Nevertheless, consumers are strongly advice to work on credit improvement first before taking the next big step.

Purchasing a house is a huge investment so before signing up for mortgage, it is very important to carefully weigh the situation and consider the pros and cons of your decision. It is interesting to note that mortgage lenders offer the best deals to customers with good credit history or excellent credit rating.

On the contrary, consumers with unimpressive credit scores may have limited options when it comes to choosing mortgage loan deals. If you can wait for another year before purchasing a home, then you will be in a much better position to apply for mortgage once your credit score has improved.

How to Buy a Home with Bad Credit

Should you decide that you want to buy a home today, what are the steps that you can do? For instance, you may have been discharged from bankruptcy a few years ago and so far your credit score has significantly improved. If you feel that you are ready to take on a mortgage loan, consider the following tips:

Check your credit report. See to it that your credit report contains no error or inaccurate information which could be pulling down your score. If you have been discharged from bankruptcy 7 years ago, request the credit bureau to delete the record of bankruptcy and any other negative information from your report. If you are on your way to good credit, consider waiting a few more months before applying for a loan.

Evaluate your finances. It is very important to make sure that you will be able to keep up with your monthly loan payments from the start until the end of your loan's term. Is your monthly salary sufficient to cover for your expenses and mortgage loan payments? Are you certain that your employment status is stable at least within the next five years? Keep in mind that if failing to keep up with your mortgage payments would mean losing the home to your lender.

Find the right lender. Finding the right lending company is another challenge. Take note that not all subprime loan offers in the market are legitimate and fair. You may come across predatory lenders who may take advantage of your bad credit score by charging excessive interest rates and unreasonable terms. To find a good lender, you need to spend time doing research and comparison.

Choose a reasonable loan package. How much do you plan to borrow? It is very important to get pre-approved first before searching for houses on sale so you do not waste time considering homes that are out of your budget.