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Slide 1: ==== ==== Earn Residual Income Giving Away Free Products http://allsolutionsnetwork.com/cgi-bin/d2.cgi/HR40890/moremoney.htm ==== ==== If you have fallen behind on your bills, been sued or declared bankruptcy, then you need to read this article and follow the simple steps to effectively repair your credit. So what can you do to change your situation around? But before we continue there are 4 things to keep in mind: You are not alone. All over the Nation, people are beginning to feel like the economic boom is over. Disposable incomes are down and savings are evaporating quickly, gas and oil prices are steadily rising and millions of honest, hard-working people are having problems paying their bills and over one million people file for bankruptcy each year. You have legal rights. So knowing your rights can get bill collectors off your back and give you a fresh financial start. If you assert yourself, you often get more time to pay, have late fees dropped, settle debts for less and get negative marks removed from your files. You can do it yourself. Having and knowing where to get help is crucial and will minimize or eliminate paying high fees to a lawyer or credit repair clinic. No credit is too "bad to repair". As long as your financial troubles are behind you, you probably will qualify for limited types of credit. Most creditors are willing to extend credit to people who have changed their financial situation around. Using budgeting or spending plan, also contacting your creditors or bill collectors and dealing with credit bureaus, you can effectively repair your credit. To turn your situation around you must understand your flow of income and expenses. You need to make a budget or spending plan since this will help you track every income and expenditure. You need to track everything for at least 2 months. Next you need to clean up your credit file compiled by credit bureaus- private, for-profit companies that collect information about your credit history and sell it to banks, mortgage lenders, credit
Slide 2: unions, department stores, credit card companies, insurance companies, landlords and some employers. How to get a copy of your report There are basically 3 major credit bureaus out there- Equifax, Experian and Trans Union. The federal Fair Credit Reporting Act (FCRA) entitles you to a copy of your credit report, and you can get one for free if: You have been denied credit because of information in your file and you request a copy within 60 days of being denied credit. You are unemployed and intend to apply for a job within 60 days following your request for your credit file. You receive public assistance. You believe your report contains errors due to fraud. Certain states require that bureaus provide consumers with one free copy each year. However if you don't qualify for a free copy, you may have to pay a small fee to obtain your report. What if I find mistakes in my report You need to make a list of everything out-of-date. Lawsuits, paid tax liens, accounts sent out for collection, criminal records( but not criminal convictions), late payments and any other adverse information older than 7 years. Bankruptcies older than 10 years from the discharge or dismissal. Credit inquiries older than 2 years.
Slide 3: Incorrect name, address, phone number, SSN, or employment info. Bankruptcies not identified by their specific chapter number. Accounts not yours or lawsuits in which you were not involved. Incorrect account histories. Closed accounts listed as open. Accounts listed more than once. Any account you closed that doesn't say "closed by consumer". Next step is to "request for reinvestigation" from the credit bureaus listing each incorrect item and explain exactly what is wrong. The credit bureaus must investigate the items you dispute and contact you within 30 days. If you do not hear from them within 30 days, you need to send a follow-up letter. The bureau will review your "request for reinvestigation" and if you are right, or the creditor can no longer verify it, the bureaus must remove the information from your report. Most times they will remove an item on request without an investigation if rechecking is more bother than it's worth. What Next? Well after you have cleaned up your credit, the key to rebuilding is to get more positive information into your file. So do you need credit to repair credit? The answer is yes, one type of positive information creditors like to see is credit payment history. If you have a credit card, use it every month to make small purchases and pay them off to avoid interest charges. If you do not have a credit card, apply for one and if your application is rejected, try to find a cosigner or apply for a secured card where you deposit some money into a savings account and then get a credit card with a line of credit around the amount you deposited. Don't try to get new credit while you are still deep in financial trouble. If you follow the steps outlined here, you should have your credit repaired in 2 years and after 4 years you may be able
Slide 4: to qualify for a mortgage. When Should You Get Help So there you have it you have a basic understanding on how to stay focused on your journey to financial freedom. Stay tuned for more... You are behind on your house payment You owe child support or alimony You are behind on a student loan You owe income taxes You face eviction You have been sued You are considering bankruptcy Are You Serious About Changing Your Life? Then Take Charge Today and I Will Show You How To Be Successful Online. http://www.squidoo.com/repair-credit-score-for-less Article Source: http://EzineArticles.com/?expert=Unwana_Udoh
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