Repairing your credit after bankruptcy

When you have filed bankruptcy Chapter 7 or Chapter 13 it will show up within the public records portion of your credit report. In order to remove from your report, you will need to send a dispute letter to the credit bureaus, not the court house.

Disputing a bankruptcy can be easier than you think. Credit Bureaus obtain bankruptcy reports from disgruntled court workers with no interest in your case anyway, so accuracy is not exactly always of the utmost importance to them.

One of the easier ways to get your bankruptcy removed from your credit report involves paying close attention to what is reported as your account balance. Often times the creditor will cut corners with their own book keeping and round to the nearest dollar. Even if it is one cent off, the balance is actually false and can therefore be eradicated.

Considering the government’s knack for taking their time with things (like verifying the details of your bankruptcy for instance), it’s often quite difficult for the credit bureaus to respond to your dispute within the allotted time frame. Remember, they have 30 days to present the findings of their investigation before the items must be removed.

Debts that were wiped away by bankruptcy will appear on your credit report as “Included in Bankruptcy”. Disputing individual entries is often easy, since the creditors are not getting paid at this point because the accounts were discharged. If the creditor isn’t getting paid, they are not likely to waste their time arguing with you about the validity of an item.

If you would like help removing a bankruptcy from your report, contact Financial Education Services 888-977-1222 or info@FESexperts.com

 

Business Credit Guarantee

Finance experts are elated as Want Business Credit Now has finally rolled out their much anticipated Business Funding Suite.

Want Business Credit Now has released a first of its kind cash and credit access system which provides business owners easy access to financing options of all kinds for their businesses.

The business credit and funding suite has over 400 financing sources. There is also access to over 30 different funding sources available.

“Access to money has always been one of the biggest challenges a business owner faces,”

 

“Through the funding suite entrepreneurs can quickly access the cash and credit they need to grow their business.”

The Business Credit and Funding Suite provides unprecedented access to money for business owners. Virtually every type of known legitimate financing source is available through the business funding suite.

Business Credit is one of many funding options available. The business credit and funding suite offers hundreds of merchants who offer business credit, all with no personal guarantee required.

This means business owners can access credit for their business without the personal liability of a personal guarantee.

Plus business credit is available with no personal credit check. So, even business owners hit hard by the change in economy will still qualify.

“Our clients can easily be approved for well over $50,000 in business credit within their first 6 months using the cash machine. And this credit is with major merchants business owners frequently use,” says Ruth Van with Want Business Credit Now.

Plus business credit is only one of many financing options available.

SBA loans including micro-loans are available as well. Consumers can chose from single SBA loans or multiple SBA loan“bundles”securing financing over $150,000.

Factoring loans, equipment loans, credit lines, merchant cash advances, and many more are all available through the Business Cash Machine.

“Now business owners have access to all real cash and credit sources for their business in one place,” says Ruth Van with Want Business Credit Now.

The funding suite also helps business owners with the initial steps of setting up their business to insure they are approved for financing.

Business owners can even acquire and excellent business credit score right through the business credit and funding suite.

And, business owners can secure new financing with one-click access and easy online approvals. Plus one of the main benefits of the business funding suite is concierge coaching.

Want Business Credit Now has coaches who help business owners access the cash and credit they need to grow their businesses.

And, this concierge coaching includes helping business owners all the way through the approval process to insure they get approved and quickly receive their money.

The Business Credit and Funding Suite has finally given business owners access to the funds they need to grow and expand their businesses.

To learn more about the exclusive Business Credit

and Funding Suite you can visit www.wantbusinesscreditnow.com or call 888-977-1222

 

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Do not close credit cards

Credit Card History is 15% of your FICO Score.

Your goal is to have 8 years of history to receive 40 points to your FICO Score.

If you get an offer to do a “transfer balance”  do it, but don’t close the account you transferred from.  It will lower your score.

Make sure to use your credit cards at least once every 2-6 months so the creditor does not close the account.

 

 

 

Credit Restoration Counselors

If you have less than perfect credit and want to repair it back to a positive state, you may want to enlist the help of a credit repair counselor. What is a credit repair counselor? I call it my mother since she’s a whiz with budgets and money. But a professional credit repair counselor is someone who will take a look at where you stand financially, help you go through your credit reports and identify areas where you can make changes to restore your credit rating and your credit score.

Credit repair counselors are everywhere these days. It’s big business since many Americans are finding themselves deeper and deeper in debt. In fact, over 9- million citizens carry an average debt of about $20,000 not including mortgages. That’s a lot! Most of it is credit card debt and it can balloon out of control before most people even realize they’re in trouble.

A credit repair counselor will help you work with your creditors to make payment arrangements or even obtain a debt consolidation loan to help pay them off. The counselor can help obtain better rates for you and even lower the interest rate you are paying on your outstanding balance. They’ll work with your creditors and help you with establishing a better relationship with them in the long run.

Once you have developed a plan with your credit repair counselor, they will help you develop a long-term plan that will help keep you from getting into the same situation you were in when you first contacted them. That means setting up a budget meetings with the credit repair counselor initially to address any issues that might arise in your financial dealings. They will give you tools to help you stick to your budget and stay out of trouble.

When looking for a credit repair counselor, do your homework before you sign on the dotted line. Check out their reputation with the Better Business Bureau and even your local Chamber of Commerce if they are local. Ask questions and pay close attention to the paperwork they are supposed to present you with.

A reputable credit repair counselor will advise you of your rights as a consumer, disclose the fees for their services in writing, and outline what will be happening during the time they will be working for you. If they seem to be making outlandish promises that seem too good to be true, don’t hire them and keep looking. A good credit repair counselor can be a great help toward making you more financially solvent and less stressed about your debts.

Contact us today!

888-977-1222

Experian helps Collection Companies

Experian uses something called “Collection Triggers”  What this does is monitor your credit activity.  Let’s say you were unemployed, and you started working again, and making payments, Experian could send this information on a daily basis to the collection agencies that sign up for their “Debt Collection Tools” Product.

These collection triggers monitor Charge-Off accounts, early delinquencies, and uncollectable post judgment accounts.  Any activity on any of these triggers the collection agencies and they come after you.  This is something I want you to be aware of.  The Credit Reporting Agencies are not on your side.

Financial Education Services

http://www.fesexperts.com

Office: 888-977-1222

“The Credit Dispute Process is Proven and THE EDUCATION IS PRICELESS!”

 

 

Akridge, Mandy (2009) Negotiate & Settle Your Debts, CA

Paying collections can still hurt your score

How Long Do Negative Items Stay on Your Credit Report?

The items on your credit report are called tradelines. They can either be
positive or negative. Positive tradelines help your credit score and
negative tradelines lower your credit score. Most negative items remain on
your credit report for 7 years from the date of first delinquency, but
there are exceptions:

Delinquencies (30 – 180 days late) remain for 7 years from the date of the
initial missed payment.

Collection Accounts remain on your credit report for 7 years from the date
of the initial missed payment that led to the collection (the original
delinquency date). When a collection account is paid in full, it will be
marked “paid collection” on the credit report.

Charged Off remain for 7 years from the date of the initial missed payment
that led to the charge off (the original delinquency date), even if payments
are later made on the charged-off account.

Closed accounts are accounts that are no longer available for further use.
Closed accounts may or may not have a zero balance. Closed accounts with
delinquencies remain 7 years from the date they are reported closed, whether closed by the creditor or by the consumer. Positive closed accounts remain at least 10 years.

Lost credit card – If there are no delinquencies, credit cards that are
reported lost will continue to be listed for 2 years from the date the card
is reported lost. Delinquent payments that occurred before the card was lost
are reported for seven years.

Bankruptcy- Chapters 7, 11, and 12 remain for 10 years from the filing date.
Chapter 13 remains 7 years from the filing date. Accounts included in
bankruptcy remain 7 years from the date they were reported as included in
the bankruptcy.

Judgments (child support, civil & small claims) remain on your report for 7
years from the date the judgment is filed.

Tax Liens – (city, county, state, and federal) Unpaid tax liens remain 15
years from the filing date. Paid tax liens remain 7 years from the paid date
of the lien.

Inquiries remain on your credit report for 2 years, with those in the last 6
months usually given the most consideration.

Positive Accounts remain indefinitely and paid positive accounts remain 10
years.

The credit experts at FixMyScore know credit law and how to use
the laws to your advantage. FixMyScore works with you during the dispute process to achieve the best possible outcome in eliminating negative items that are impacting your credit life. Our credit experts will analyze your credit report to target for removal the inaccurate, misleading and unverifiable items. The good news is that the reporting system itself is flawed, 96.7% of negative items are on the report WRONG!
Don’t become a victim to high interest rates and absurd fees.

Call The Credit Experts Today! 888-977-1222

To Great Credit,