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Money Management & Personal Finance : Understanding Your Credit Score

Steven Greenwald — Fri, 02 Jul 2010 14:59:08 +0000

Credit scores are developed by three separate credit reporting bureaus by interpreting data on payment history, amount of credit available and job history. Credit scores and find out how to increase credit scores withtips from a registered financial consultant in this free video on credit. Expert: Patrick Munro Contact: www.northstarnavigator.com Bio: Patrick Munro is a registered financial consultant (RFC) with outstanding sales volume of progressive financial products and solutions to the senior and boomer marketplace. Filmmaker: Reel Media LLC

How To Repair Your Own Credit Part 1 Ordering Your Credit Reports

Steven Greenwald — Sun, 20 Jun 2010 14:03:27 +0000

This will be a series of videos to help you repair your own credit. Our credit was improved by more than 100 points in less than 2 months. Disclaimer: I am not a licensed professional. I am not a financial advisor. I am not insured or bonded. I recommend that you use well thought out techniques and seek the advise of an attorney. I cannot guarantee that your results will be as successful as mine. Check out the information listed for yourself. At the time of this production all of this information was current, but times change so please verify this at the time that you use it. Use this at your own risk; we are not responsible for any results of this information be it good or bad.

Low Credit Score Cash Advance

Steven Greenwald — Fri, 28 May 2010 01:12:52 +0000

personalmoneystore.com

Credit Scores & Reports : How to Read Credit Reports

Steven Greenwald — Wed, 31 Mar 2010 10:46:45 +0000

To read credit reports, get a copy of your credit report from each credit bureau, look at each line, understand the key codes, and make sure that everything is accurate. Write a certified letter to the credit bureau to explain any discrepancies with a credit report with tips from a certified financial consultant in this free video on credit reports. Expert: William Rae Contact: www.hbwfl.com Bio: William Rae has been licensed in the insurance and financial fields for more than 30 years. Filmmaker: Christopher Rokosz

CREDIT REPAIR COMPANIES: Can They Improve Credit Score Better Than You?

Steven Greenwald — Tue, 09 Mar 2010 03:37:28 +0000

www.creditrepairpublishing.com Credit Repair Companies Can They Improve Credit Score Better Than You? Do you believe an Attorney who can earn $250 an hour will actually work on your credit report for $49 a month? Or, do you think the whole process is automated and boiler plate letters are spit out on their behalf? For $49 a month do you feel they are going to “drag out” the process to make more money? Or, do you feel they just want to help the masses by making it affordable? Will they disclose what they are actually doing? Show you the letters they are sending? Will they dispute with more than one bureau at a time per a month? Are they just sending dumb letters over and over claiming the account is not yours? Or, are they actually doing factual disputes against the items on your credit report. Are they going to go over each detail of your report and the EXACT errors on each item? Or, are they just going to shotgun dispute everything and anything that is negative on your free credit report? Lexington Law is well known for doing credit repair and some people swear by them… but others have complaints. Why so many complaints? Complaints on www.scam.com and www.ripoffreport.com ? Some people are happy and others are not. Other credit repair lawyers and law firms like www.ovationlaw.com and www.creditattorney.com use the clout of being a law firm to make consumers feel more attracted to them. In reality, you don’t need an attorney to provide you with credit help or legal credit repair. What you need is someone who knows what they are doing in the field of credit restoration. This can be your or someone else. Be careful. It’s jungle out there. Please sign in to rate this video. Thank you.

How Does Credit Affect You ?

Steven Greenwald — Mon, 22 Feb 2010 23:28:21 +0000

One of her girlfriends, Cindy, invites Joanne to a party where “There will be lots of handsome men.” Excited that life just might get interesting again, Joanne’s hopes are dashed as she stands before her closet. She hasn’t bought a new outfit in five years, and money is tighter than last year’s jeans. She goes clothes shopping at Today’s Trends Clothing, where she has shopped for years. She selects three outfits, but has no cash and no credit card since the divorce. Confidently, she applies for the store’s credit card, but is astonished when she is turned down.
Listing off the credit cards she had with her ex only seems to bore the clerk. Joanne has no credit in her own name.
Everyone Has a Credit History/RatingYes, everyone has one of these, even if you have never had a credit card or a loan. Your credit history is compiled in reports made by credit bureaus and provided to lenders, landlords, and utility companies at their request.
When you apply for a credit card, mortgage, or other loan, the fine print on the application gives the lender permission to check your credit history. The lender usually requests a credit report from one of the “Big Three” credit bureaus. In theory, the bureaus merely report the raw data of your credit history and don’t assign you any kind of “credit rating.” In reality though, credit companies do provide a credit rating in the form of a credit score. The lender looks at your credit score and decides whether to grant you the credit you are requesting. Of course, lenders also look at your total outstanding debts, your minimum monthly payments, even your credit limits to see how far into debt you could go if you max out your existing accounts. Primarily, though, they are concerned with your record of delinquencies, accounts paid unsatisfactorily, and anything else that suggests
Good credit is Sexy 6 http://www.citicredit.asia how much of a credit risk you might be, all of which is used to calculate your credit score.
Like Joanne, you may be surprised to know that part of what figures into your credit rating is a lack of credit history. If you have no credit history, you have no track record of payment and your rating is very low. Believe it or not, you’re a bit of a credit risk.
Three Big Filing Cabinets-The credit BureausMost people think that credit bureaus are branches of the government. In actuality, credit bureaus are for-profit corporations that provide a service: storing and maintaining credit records. The three major bureaus, or Credit Reporting Agencies, (CRAs) are:1. Experian (formally TRW);2. Equifax; and3. TransUnion.
There also are local credit bureaus and reporting agencies, although their databases are not as extensive as those of the “Big Three.” The local bureaus are, however, worth noting because they are used by some who may judge your credit worthiness.
An example of a local agency is a Residential Mortgage CreditReporting (RMCR) firm that provides a bureau-merged credit report. In addition, all of the “Big Three” send your disputes to what are known as “third party databases”, to determine their validity. More about these in Chapter 25.
To report information to the credit bureaus, creditors must fill out an application and pay a fee to each bureau to which they wish to belong. Membership is completely voluntary. No creditor has to report anything to any bureau. The more “thrifty” creditors may expend the time, trouble, and money to report to only one credit bureau. Given the fact that each bureau has its own separate, private database and, because the credit bureaus generally don’t pass information back and forth to each other, you actually may have up to three divergent credit histories.
So who subscribes to the credit bureaus for their services? bank, finance companies, department stores, taxing authorities, landlords, and other “credit grantors” all subscribe to the CRAs. Once a creditor subscribes to a CRA’s services, the creditor is allowed to report information on your account history.
This information is stored by the CRA in a national database, and contains the following:1. Your payment history;2. Where you work and your employment history;3. Your age;4. Whether or not you’ve been divorced;5. Your address history; and6. In some cases, your salary.
Credit bureaus also search public records for:1. Bankruptcy information from the federal government; and2. Judgment and tax lien information from courts (district, circuit, justice, municipal, superior, magistrate, probate, and state), town clerks, and registers of deeds.
Just how current is the public records information? From Experian’s website:The currentness of data collected from courthouses depends on the size and/or location of each court. Data obtained from courthouses serving large metropolitan areas is updated frequently. In most cases, bankruptcies are collected on a daily basis. Almost all other courthouse data is collected monthly or weekly, with some information (usually from courthouses serving less-populated areas) collected quarterly.
Experian also states that once it receives information, that information is added to its database within 24 hours. Records on tax liens, judgments, and bankruptcies are available nationwide.

Question 1: what factors make up a credit score?

Steven Greenwald — Tue, 05 Jan 2010 09:31:02 +0000

video clip exerpt from the SAG (Screen Actors Guild) Foundation Liferaft “Housing Market 101″ seminar, Los Angeles CA, on April 29, 2009.

Can you Get a Loan if you Have Bad Credit History?

Steven Greenwald — Sun, 03 Jan 2010 04:30:53 +0000

How do you go about getting a loan when you’ve got a history of bad credit? Many banks and loan providers will want to see detailed a credit history before agreeing to give you a loan, but some people may have a history of bad credit – often due to reasons beyond their control. Missing the odd bill payment, a minor overspend, illness, redundancies or a breakdown of a relationship can all lead to times of financial difficulty which can adversely affect your credit rating.