1. You can improve your credit rating by closing your credit card accounts.
MYTH! Canceling your credit card influences the cutting down of credit age, which is one of the biggest influences of your credit rating. Your credit rating, as a result, will not increase even if you do opt to close your credit accounts.
2. Paying back installment loans helps improve credit ratings.
MYTH! Paying down installment loans will not improve your credit score. The information with effects on your credit rating is not the amount you paid for the loan, but the date you paid back the loan. The truth is, credit report agents are only interested in finding out whether you paid for your loan before the deadline or not.
3. Having only one credit score is natural.
MYTH! The truth is, you can get a maximum of three credit ratings. Each of the three major credit reporting agencies in the country has its own means of computing your credit rating. The figures prepared by the three companies translate to three credit ratings with slight differences. The three credit ratings are recognized by the Fair Isaac Corporation (FICO), which is the organization that is responsible for the calculation of your FICO scores.
4. You can never remove a negative entry in your credit report until the seven-year requirement is up.
MYTH! A poor mark, whether it is a late payment item or an existing debt listing, can be eliminated from your credit report. You can initiate this by asking for a goodwill adjustment from your creditors or by testifying against the imprecision of your credit records.
5. Credit scores are increased if you hold your credit account balance.
MYTH! It is actually the opposite. It is totally all right to have credit card activity; however, it has no effect on your credit card balance. Keeping a particularly low balance or no balance at all is actually one of the best means to maintain a considerable credit rating and improve it.
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Remove Late Payments From Your Credit Report Using Three Different Ways
Friday, November 21, 2008
Removing a late payment entry from your credit report, most especially if you do not have several late payment markings on the same credit account, is not so hard. You can always negotiate your way into the removal of the late payment record on your credit report. Here are three different methods which you can conveniently try to erase the late payment marks from your credit report:
1. Request a goodwill adjustment from your first creditor.
One of the easiest means to delete a late payment from your credit account record is to ask your original loaner for a goodwill adjustment. Goodwill adjustment is a process of altering your credit marking from "late" to "current." Asking for a goodwill adjustment from your loaners is easier if your payment records prior to the late payment are fairly impressive.
2. Work out a late payment removal by signing up for automatic payment services.
Another technique you can use to erase the late payment entry from that credit report is to sign-up for automatic payment services. Several loaners will help you erase the negative entries on your credit report only if you support their automatic payment service. The arrangement is actually beneficial for both: the creditor will obtain your payments on time and you will finish your financial responsibilities on schedule.
3. Present a lien stating that the late payment marking is inexact.
Disputing the inexactness of the details of your credit history is also a great means to eliminate the late payment entry on your credit report. Loaners, thanks to the large number of credit records they handle every day, have the tendency to have a difficult time affirming the details on your credit record. If the loaners fail to verify the accuracy of the late payment record, then that poor entry in your credit account will be erased.
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1. Request a goodwill adjustment from your first creditor.
One of the easiest means to delete a late payment from your credit account record is to ask your original loaner for a goodwill adjustment. Goodwill adjustment is a process of altering your credit marking from "late" to "current." Asking for a goodwill adjustment from your loaners is easier if your payment records prior to the late payment are fairly impressive.
2. Work out a late payment removal by signing up for automatic payment services.
Another technique you can use to erase the late payment entry from that credit report is to sign-up for automatic payment services. Several loaners will help you erase the negative entries on your credit report only if you support their automatic payment service. The arrangement is actually beneficial for both: the creditor will obtain your payments on time and you will finish your financial responsibilities on schedule.
3. Present a lien stating that the late payment marking is inexact.
Disputing the inexactness of the details of your credit history is also a great means to eliminate the late payment entry on your credit report. Loaners, thanks to the large number of credit records they handle every day, have the tendency to have a difficult time affirming the details on your credit record. If the loaners fail to verify the accuracy of the late payment record, then that poor entry in your credit account will be erased.
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Privacy Policy For Bad Credit Debt Blog
Saturday, November 15, 2008
Privacy Policy for The Bad Credit Card Debt Blog (http://badcreditdebtblog.blogspot.com/)
The privacy of our visitors to The Bad Credit Card Debt Blog (http://badcreditdebtblog.blogspot.com/) is important to us.
At _The Bad Credit Card Debt Blog (http://badcreditdebtblog.blogspot.com/), we recognize that privacy of your personal information is important. Here is information on what types of personal information we receive and collect when you use visit _The Bad Credit Card Debt Blog (http://badcreditdebtblog.blogspot.com/), and how we safeguard your information. We never sell your personal information to third parties.
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As with most other websites, we collect and use the data contained in log files. The information in the log files include your IP (internet protocol) address, your ISP (internet service provider, such as AOL or Shaw Cable), the browser you used to visit our site (such as Internet Explorer or Firefox), the time you visited our site and which pages you visited throughout our site.
Cookies and Web Beacons
We do use cookies to store information, such as your personal preferences when you visit our site. This could include only showing you a popup once in your visit, or the ability to login to some of our features, such as forums.
We also use third party advertisements on The Bad Credit Card Debt Blog (http://badcreditdebtblog.blogspot.com/) to support our site. Some of these advertisers may use technology such as cookies and web beacons when they advertise on our site, which will also send these advertisers (such as Google through the Google AdSense program) information including your IP address, your ISP , the browser you used to visit our site, and in some cases, whether you have Flash installed. This is generally used for geotargeting purposes (showing New York real estate ads to someone in New York, for example) or showing certain ads based on specific sites visited (such as showing cooking ads to someone who frequents cooking sites).
You can chose to disable or selectively turn off our cookies or third-party cookies in your browser settings, or by managing preferences in programs such as Norton Internet Security. However, this can affect how you are able to interact with our site as well as other websites. This could include the inability to login to services or programs, such as logging into forums or accounts.
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The privacy of our visitors to The Bad Credit Card Debt Blog (http://badcreditdebtblog.blogspot.com/) is important to us.
At _The Bad Credit Card Debt Blog (http://badcreditdebtblog.blogspot.com/), we recognize that privacy of your personal information is important. Here is information on what types of personal information we receive and collect when you use visit _The Bad Credit Card Debt Blog (http://badcreditdebtblog.blogspot.com/), and how we safeguard your information. We never sell your personal information to third parties.
Log Files
As with most other websites, we collect and use the data contained in log files. The information in the log files include your IP (internet protocol) address, your ISP (internet service provider, such as AOL or Shaw Cable), the browser you used to visit our site (such as Internet Explorer or Firefox), the time you visited our site and which pages you visited throughout our site.
Cookies and Web Beacons
We do use cookies to store information, such as your personal preferences when you visit our site. This could include only showing you a popup once in your visit, or the ability to login to some of our features, such as forums.
We also use third party advertisements on The Bad Credit Card Debt Blog (http://badcreditdebtblog.blogspot.com/) to support our site. Some of these advertisers may use technology such as cookies and web beacons when they advertise on our site, which will also send these advertisers (such as Google through the Google AdSense program) information including your IP address, your ISP , the browser you used to visit our site, and in some cases, whether you have Flash installed. This is generally used for geotargeting purposes (showing New York real estate ads to someone in New York, for example) or showing certain ads based on specific sites visited (such as showing cooking ads to someone who frequents cooking sites).
You can chose to disable or selectively turn off our cookies or third-party cookies in your browser settings, or by managing preferences in programs such as Norton Internet Security. However, this can affect how you are able to interact with our site as well as other websites. This could include the inability to login to services or programs, such as logging into forums or accounts.
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Clear up credit card balance without filing bankruptcy
Tuesday, November 11, 2008
Trying to be free of a mountain of credit card collection notices? Hassled by a lot of annoying calls from collections call centers? Can't get a new vehicle or a new wardrobe because your credit tapped out? You might want to look into some common and proven steps of climbing out from under that hill of overdue notices:
Shift the balance of your credit card from the card with higher rates to your cards with low interest rates. Doing this empowers you to get charged lower interest as you work on discharging your remaining debt.
Switch the account which has the biggest interest rate to a low monthly interest card, phone the card provider, notify them your money difficulties and request their help with reductions your monthly rate. Do this method for all your credit cards today.
Completely eliminate the leftover balance of your high interest cards, and stop using them. If full balance payment is not feasible, take off as much as you can.
Contact a veteran credit consolidation consultant and look into credit card debt consolidation systems you can exercise. This is a viable option to your situation. Take advantage of their expertise to completely beef up your personal cashflow.
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Shift the balance of your credit card from the card with higher rates to your cards with low interest rates. Doing this empowers you to get charged lower interest as you work on discharging your remaining debt.
Switch the account which has the biggest interest rate to a low monthly interest card, phone the card provider, notify them your money difficulties and request their help with reductions your monthly rate. Do this method for all your credit cards today.
Completely eliminate the leftover balance of your high interest cards, and stop using them. If full balance payment is not feasible, take off as much as you can.
Contact a veteran credit consolidation consultant and look into credit card debt consolidation systems you can exercise. This is a viable option to your situation. Take advantage of their expertise to completely beef up your personal cashflow.
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