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How VantageScore calculates your credit scoreVantageScore isn't nearly as specific as FICO when it comes to how it determines your credit score using its scoring model. It provides a rough outline of factors it considers important and those it considers less important.
12. credit sesame.com
and many many more..
Looking to get a real report just sign up for either TransUnion or Experian
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People use credit cards in different ways, people will sell their great credit to you for a fee usually for any where from 2-4 months just enough time for you to build your credit. Keep in mind you never get the credit card its just their good credit is reporting on your credit report that all.
Your on someone's account history, I tell people its the best way to go because you do not need to pay someone to do this. If you have a family member that is willing to allow you to help you go for it. The card they put you on should be in good standings never late, as you know if its late its going to be late showing on your card as well. You do not need to have the card and me if I had to do it I would not give my card to you. To do this the account holder needs your Social Security number and address. Trust is going to be what is needed, make sure they are good with their credit, you can be on that card as long as you want.
These afford you to make your credit look great and in while using it you should apply for what ever you want while it's still reporting on your credit. Some people want to purchase a car but do not have car credit or very little credit so this will help you. When using or apply for a trade line you need to 1st look at your credit it's important, many people have been burned by sellers of tradelines and or did not understand how to use them or even if they should have purchased one to began with. Your credit needs to be clean and don't let people tell you it doesn't.
What you do not want to do is apply for a $10,000 credit card and owe on your bureau report $3,000.00 in debt. My question is..If you have $10,000.00 why wouldn't you pay that $3,000.00? lenders look at that. You need to have a clean credit report to purchase these things and make them work for you, I never tell people to use a CPN with these because the failure rate is high. Once you purchase one move forward and apply for a credit card in your name but you only get one shot at this so be careful. You can build from there but you need to be smart moving forward, as well you can purchase more then one at a time. Contact me for additional information we can get it done and at an affordable price.
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Still wondering when your credit issues will change? still thinking that if you remove items every thing will be ok? not true. Let's go over some things so you understand the steps that need to be taken.
Removing negative items: Let's start from day one, think about this if you had 8 items on your report and 6 of them are bad with the remaining 2 pretty good, credit showing for only 5 yrs. . Let's take into the consideration the whole report is only showing 5 yrs old, now think about this for a minute. You have no car payments and no mortgage but you have medical and school loans as well as credit card debt . Remember the credit cards depending on the amount and if it is being reported by the creditor or the collection company can be settled and paid in full with a settlement and deleted.
Usually the collection companies are harder to deal with when asking for a deletion but they want to get paid so we negotiate a settlement with them for less they bought the debt for pennies on the dollar. We ask for paid with deletion, sometimes they do not want to give up that letter and by law as they say they can't, you try to then call the original creditor it's always better to get in touch with the credit card company if you can they just want their money, some can be harder to deal with then others. This may go two different ways, they tell you they no longer have the file, so we go back to the collection company and start dealing strong. We ask for a lower pay off and do not stop with a rep you want to speak to a supervisor get the name number and be prepared to take notes. Believe me they want to get the books off their hands. If you settle with an amount you want it written and sent to you before you make a payment in full by ** check, cashiers check, or money order** never a credit card and you want the letter 1st. Once paid you will receive the pay off letter tell them you want that stated in you letter.
Now let's start building:
You have limited credit and depending on what your trying to do your going to need some good credit to make the rest look better while your still working on it, you have choices. (1) Go ahead and get a secured credit card while your working on the other 4 items, Capital One use to have a secured card that did not say secured on the report only you knew. I would put up at least $400-$500 on it because it looks better. What's left on your credit could be anything from leasing an apartment or pay day loans, they all need to be dealt with. Look at the dates, depending on the state the debt was made in they can very well be out of the statue of limitation and must be removed. Its going to depend if you spoke to them as well, if so it starts the ball rolling again, if you made arrangement to pay its yours. Never ever be so fast to settle just because they contact you, you need to think first.
If you have not spoke to them and admitting to the debt you can fight them for proof of the debt its going to take some time depending on how hard they fight. let's say you get two off..GREAT! now you have 2 left. depending on what they are and how much is owed your in better shape now. You can now do this because you have your secured card right? ask a family member if you can piggyback on one of their credit cards, meaning they are just adding you to the card. Make sure that person has never been late on that card and their not maxed on it meaning owing over 30% on it.
Understand they don't need to give you a card and you need to trust them that they are going to pay on time because it's going to report on your credit, if they are late your late. If you have no one you can use a trade line meaning your buying some ones perfect credit history and payments for a short period of time, you will not receive a card it will just report on you credit. This is the thing, you need to move fast once you see this has reported to the credit bureau's because it will be removed in about 60 days unless you purchase again. In that time you go and purchase an auto and or apply for another credit card which you should get and it will be higher and you have a new start. Remember lenders look for Length of credit history, Payment history, debt, credit used and New credit.
Questions call me, always willing to help in any way I can.
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Over my time in the credit repair business I have found that most people think that it's a two month process, it's not. Credit repair can take anywhere from 3-6 months and sometimes more depending on the credit. I have also had client call me to complain about other company's taking to long or not removing things fast enough, there is most likely a reason why. This is what I have seen in the business, some will make you laugh but here it is.
1. The people who go on a buying spree then want everything removed:
REALITY CHECK..If its new and you do not have a valid reason such as an illness, loss of job or maybe a cut in pay YOU OWE IT, and it most likely will be a settlement case. Creditors will work with you remember they aren't there for a free ride.
2.The people who are not up front with names and or SS#'s meaning trying to falsify information.
REALITY CHECK.. The file needs correction and it's going to take some time to remove the additonal information with all kinds of proof submitted.
3.Big dreams overnight.
They come with very low credit scores such as a 475 with the intent to purchase a Mercedes, who in the world does that you might ask.. I have had them. People need to pull their credit and come with real expectations
4. I get the Flip Floppers I call them, these are the ones that sound like they really want it done but disappear for a month with no communication and want a miracle when they return.
5. I want the house in two months but I have a debt to income of 95% and most are new credit card balances.
Unless you have money to either pay off some of the debt with paid deletion letters and bringing the others up to date and make your payments current for at least 6 month you need to be slapped into REALITY, NOW SOME PEOPLE MIGHT HAVE ENOUGH MONEY TO PAY THEM ALL OFF AND IT SO YOU ON AND AS THEY SAY POPPING.
30 days for credit repair is a joke and if someone is telling you that beware they are doing something undercover and you do not want to be a part of it.
You may not have good results if you have run your credit cards up or a car that has been repoed within 12 to 24 months. This is new debt, most of the time the creditor still has your file and can and will provide all documents so the chances of something being wrong is little to none. Now if it goes to a collection company that's all together different and a fight can win you the results you want but its going to take time.
If you can repair your credit yourself it would save you money, people that I have spoken to will try, some are successful some are not, but the ones I talked to it took them at least a year, it was not overnight. Most that do it themselves will sometimes hit a block wall and need the help of a company at some point.
Items to think about when challenging your report.
1. How old the derogatory is.
2. Where was the derogatory made
3. Does the creditor still have the debt
4. Was the debt sold
5. Statue of limitation in your state or the state where the debt was made
6. Have you spoke to the creditor or collection company
7. Can they prove the debt is yours
8. Can they provide all information payments etc regarding the debt
9. If a collection company can they legally collect in your state
10. Make sure the names, addresses and SS# are correct on your file
11. Should you pay off debt and or settle
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Once again making it to easy for people to purchase something they can't afford is once again setting you for for failure. What I am seeing is this because I'm on the ground fighting to help people with credit is the high price of autos.
Let us not forget the 2008 housing crash, easy money sent us down the tubes by banks offering easy lending and thousands took advantage of it. I still have client that are still dealing with the repercussions today between bankruptcy's because of it and auto repossessions.
The cost of a new auto has increased so much that lenders are extending payments out to 8 and some to 10 years. This might very well be the new CRASH. Auto dealers are pushing sales anyway they can get them and people are falling for it to drive the car they always dreamed of but not thinking of the consequences.
Most people only drive a car for 3-4 years and most of the time the car starts giving you problem by that time so, you trade it in and will upside down, oh but they don't tell you that. By the time you you pay interest on your car you have paid for it most likely 2 times over, just think about a interest paid for 6 years or more. STOP and think about what your doing before you sign on the dotted line, how bad do you want it. Read the information below, let's be smart and learn.
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This is something that you really need to think about. A lot of people think you should tuck them away or even cut them up I feel differently and here is why.. Let's start with this, credit card companies make money off the interest on the card they give you, if your not using it someone else will.
These are some things to think about,
1. If you don't use the card they can reduce the amount.
2. If you don't use the card they can at their discretion close the card.
If the card is closed by the creditor, that is the way it will show up on the credit report if its closed by the consumer it will report as well that way. Closing your cards will hit your report no matter how its closed and lower your score by points. I say do not cut them up, leave them open using them often, I would apply a large amount then by the statement date pay it off. I have heard people say they don't want to pay interest on a card they do not use. I say take the balances down to maybe $30.00 and even if you pay 25% interest your only paying $7.50 in interest if that depending on your rate. This will benefit you in the future if you keep the card open because you now have available credit as well as it lower's your debt to income.
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If you should get a call from a collection company, Never ever give them your personal information, remember they called you or sent you collection information by mail or phone. If the item was on your credit report you can write them, if you call them block your number and do not give anything but the file #. Remember they are building a file on you..
Never give them you SS# or full name just give the information you have from their company if sent by mail, let them know that you received this information or phone call and ask why? if they can't help you from there ask for their mailing address. This a game they love to play, I have had them say we don't respond to letters, WHY I THINK TO MYSELF? Because once again they are gathering information on you and your being recorded they will tell you that or suppose to at the beginning of the call. If you do not get this information ask why they can't provide the information and who your speaking with, make sure you get the state, date and time of the call. DO NOT I mean DO NOT provide them information unless your prepared to pay up.
Turn around and write the Bureau's letting them know that you tried to contact the parties and they would not provide you any information as well or would not give you a mailing address to correspond with them in letter form. Understand the bureau's alway write you saying they confirmed the debt.. Tell them you demand to have the item removed from your credit report ASAP, all letters sent certified.
**Remember collection companies need to validate the debt**
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.Credit repair can be tricky, its all going to depend on what's on the credit, the statue of limitations for your state and if you have acknowledged that the debt is your's. There are a lot of reports that have information from someone else on it with the same name or birthdate. Remove out dated addresses phone numbers and jobs if you have been job hopping, remember lenders look for stability.
You can write the credit bureaus and ask them for your full credit report, if you have been turned down for credit or have not gotten a report in a year you can get one free from each bureau. You will need to send them information to assure them its you, I send everything by certified mail, remember this is your information in an envelope you want to have information on it being delivered.
You get it back and you go to work on finding items that are wrong, dates, names amounts ...etc ask them to remove the items. Now remember these bureau's are only reporting what someone has sent to them.
I personally start building my clients credit with a secured card because you need some good credit to help in the process, remember if all is removed you have nothing lenders look for history. Always remember credit it like a baby you have to grow it. This is what your credit should look like so now do your home work.
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Are you in credit card debt with a high interest rate and can't SEEM to get out? how many cards do you have and are they high limits? Instead of making a personal loan with a high interest rate you can do this. If your credit is decent meaning no late payment you can do one of two things. One obtain another credit card with a zero interest rate, make sure that the card is offering anywhere from one year to 14 months and transfer your balances from the high interest cards to that card.
You need to make sure that the card your transfering to is going to cover the amounts of the combined high interest cards. Do not close the high interest cards, leave them with a low balance maybe $50.00, because you have transferred the balance do not charge them up again if so you are defeating the purpose. Do not close the high interest cards doing so will drop your score dramatically and you do not want that. You can usually get a zero interest card with no annual fee as well, make sure your paying large amounts on the new card to pay it off within the time allowed. **Caution** if you do not use them from time to time some companies will choose to close the card so make sure you keep them active with small amounts you pay off or down to $50.00-$100.00 a month..GOOD LUCK!
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Are you tired of crazy high cell phone bills? lets look at how to bring down your bill.
1. Stop paying for the latest phone's, if a phone is not working to make you money its not worth the price.
2. If you purchase insurance, I would only use it for the 1st year then cancel it, if your like me and don't drop your phone or loose it, you don't need it. The insurance company is going to give you a refurbished phone and usually does not work as well as the one you had.
3. Are you a senior? ask for the discount.
4. Are you using all of the minutes you pay for and if not are they rolling over to the next billing cycle if not cut down your minutes.
5. Don't be afraid to call around and compare, ask for the best deal and let your current subscriber know what you can get. **closed mouths don't get fed**
6. If your phone is paid for you do not need insurance, if your switching services make sure that they send you all sign up information before giving the OK.
Remember your in control of your money