Debt Consolidation. Our Credit Counseling services can help

 
Credit Repair - Truth about it

Credit Repair BEWARE! There are numerous companies throughout the United States that claim they can “fix” your credit reports for a fee. In most cases they do little or nothing to fix your credit reports. What ends up happening is these companies take your money and disappear with it and you’re left with bad credit and less money in your possession. Many companies also claim that they can create a new credit file for you by getting you a “New” Social Security number. This is illegal and never actually works.

Did You Know?

Your credit history is maintained by companies called credit bureaus. These are private companies that collect information reported to them by mortgage companies, banks, department stores and other creditors. These bureaus can legally report any accurate negative information for 7 years and bankruptcy information for 10 years. Any accurate negative items that are within the 7 (or 10) year reporting period cannot be erased from your report by anyone. Not even companies that advertise to “repair credit” can erase this information.

Time is the only thing that will heal your credit report. By making consecutive payments when they are due, you will be able to show a more positive rating on your report, but your negative marks will not be removed.

Steps to Check Your Credit

You are entitled to see any information that the credit bureaus have on file about you. This is required by law. To find out what is listed on your credit report, you can follow these simple steps:
# Contact the local credit bureaus.
# Obtain a copy of your credit report. There may be a small fee if you haven’t been denied credit within the last 30 days, during which time it is free.
# You can visit the credit bureau office to review your credit report in person.
# Review your credit report for any mistakes.

If you do not understand something, you can ask. By law, the credit bureaus are required to explain your report to you. If a mistake is found, notify the credit bureau of the mistake and provide them with as much information regarding that problem. A reinvestigation will be done to dispute the information (if legitimately incorrect) and make all necessary corrections needed. A corrected copy of your report should be sent to anyone who has received the incorrect version within the past 6 months.

Are You A Victim?

If you have ever encountered a serious problem with a credit repair company, you CAN report them. You can contact your local consumer affairs office or your state attorney general. Check with your local directory assistance to see if a toll-free number is available.

You can also contact the Federal Trade Commission (FTC) to report any situations. Although the Commission cannot rectify individual credit problems for the consumer, it can act against a company if they see a pattern of possible law violations. If you feel a company has engaged in credit fraud you can send complaints to:

Correspondence Branch

Federal Trade Commissions

Washington, DC 20580

Myth

Credit Clinics and/or Credit Repair Services can “clean up” your credit report.

Fact

No one can legally remove accurate information from a credit report. However, you can request a reinvestigation on any of the information in your file that you dispute as inaccurate or incomplete.

Get you FREE debt consolidation quote today. Have debt? Credit counseling can be your way out.
- posted by Kimberly Credit @ Debt Consolidation & Credit Counseling

 
What Debt consolidation mean to you

Credit card debt is one of America’s most threatening dispositions. Millions of individuals every day are getting themselves deeper and deeper into debt. Credit card companies and other debt collection business offer no remorse or help to those who have already spent their money. For many of those there are only a few options that you can choose. One of those options is just don’t pay, one which we dont advise at all. This is a problem because it means getting calls day after day from angry intimidating debt collectors and constant fear of repossession as well as showing up on your credit report. Another way is to file bankruptcy. It means more expenses and horrible credit for long periods of time. You have to go to court for this and then you can not even thing about getting a credit card for about 10 years. Some also may decide to pay debt in the standard old fashioned way. One bill at a time. But what if those bills add up to be higher than your paycheck? How is this problem resolved?

Debt consoladation may be the answer.What is Debt consolidation ? It is the process of taking ones debt and combining it into 1 low monthly payment. The monthly payment is also often times reduced because of arrangements made with the debt consoladation company if you make your payments.

Lower monthly payments and less interest rates make it much easier for one to pay their debt off completely and work to make them credit worthy once more. Being credit worthy is essential because that gives you the buying power of financing a house, financing a car, making larger purchases, getting a cell phone service and many other services that one cannot get without credit.

Debt consolidation gives them the opportunity to do such things. It can be a hard way, but often times the right way. And it is not the hardest way by far. It is much more damaging to completely not pay your bills, or to claim bankruptcy. If you need help this is a great option.

Debt Consolidation is the answer to your financial problems.
- posted by Kimberly Credit @ Debt Consolidation & Credit Counseling

 
Do I need Debt Consolidation / Credit Counseling Services

It is not easy to seek help when debt starts to get out of control. Many people let their pride prevent them from getting the help they need when they begin to fall behind on their monthly bills. However, putting things off can just make things worse and make it more difficult to deal with in the future. Time is definitely your enemy when it comes to debt. The more interest charges and late payment fees you allow to build up, the more difficult it will be to finally pay them off. If you find yourself broke at the end of every month or if you have fallen behind on one or more of your monthly bills, it may be time to seek the help of a qualified credit counselor or debt consolidation services.

Free Debt Consolidation Quote

Debt consolidation services exist to help consumers who have fallen behind on their bills pay off their debt and get a fresh start. You may think you are in debt too deeply to ever get out, or you may think you don’t have enough debt to need counseling. In either case, you could probably benefit from discussing your finances with a qualified debt counselor or debt consolidation company. The employees of debt consolidation companies are very skilled at determining what kind of debt consolidation services would work best for you.

A good debt counselor should start with a thorough review of your finances all your current bills. The debt consolidation service will prepare a list of everything you owe and to whom you owe it. They will then take that information, and work out a repayment schedule that will be acceptable to your creditors and still affordable to you. This type of analysis is at the heart of what a good debt consolidation service can do. You may think it is impossible to pay your bills on your current salary, and you may think that filing bankruptcy is the only way out, but a good debt counselor can show you how to deal with your debts without taking drastic action.

Get your Debt Consolidation quote today
- posted by Kimberly Credit @ Debt Consolidation & Credit Counseling

 
Identity Theft - What you can do when it happpens.

The information provided below is a list of major resources to contact in the event that you believe you are the victim of identity theft. The sad thing, it becomes your responsibility to resolve the problem. You must act quickly to minimize the financial damage that can be caused.

Call the three credit reporting agencies immediately here are the phone numbers:
# Experian 1-800-682-7654
# Equifax 1-800-685-1111
# Trans Union 1-800-916-8800

When you call you should report the theft of your credit cards or credit card numbers. You should also add a victim’s statement to your report, which states in writing that your credit cards have been stoelen and used fraudulently. Ask the credit bureaus for any creditor names and phone numbers of new accounts that have been opened in your name.

You need to contact all of your creditors with whom your name has been used fraudulently. Contact both by telephone and in writing if you can as well so you have all bases covered. When you call ask for replacement cards with new account numbers, and ask that the old accounts show as closed at the consumer’s request.

Since this is a crime it should be reported to the authorities immediately and keep a copy of the police report. Some credit card companies require a police report to verify that the crime occurred.

If you have checks stolen you should put a stop payments on all outstanding checks that you are unsure of. Cancel your checking and savings accounts and open new accounts with new account numbers. Report any stolen checks to the check verification companies as well.

If your ATM card has been stolen you should report it immediately as well. Request a new card and a new account number also be sure to use a new password. When choosing a password, try not to use any common numbers or numbers that are easy to figure out, such as birthdates, phone number, or social security number.

If someone is using your driver’s license number on bad checks, you may have to change your driver’s license number. You must call the Department of Motor Vehicles to see if another license was issued in your name. You must also fill out the DMV complaint form to begin the fraud investigation process. Send the complaint form and all supporting documents to your local DMV investigation office.

If someone filed a change of an address in your name notify the local postal inspector if you suspect an identity thief has filed a change of your address with the post office or has used the mail to commit credit or bank fraud. See if you can find out where fraudulent credit cards were sent. Notify the local postmaster for your address to forward all mail in your name to your own address.

Above is just a few things that can be done for various forms of identy theft.

Debt Consolidation and credit counseling can assist you with financial troubles. Get out of debt today
- posted by Kimberly Credit @ Debt Consolidation & Credit Counseling

 
What is a consumer credit report & Debt Consolidation Benefits?

It is a factual record of an individual's credit payment history as reported by their creditors. It is provided for a purpose permitted by law, primarily for people wanting to give you credit. Its main purpose is to help a lender quickly and objectively decide whether to grant you the credit you have requested from them.

If you are one of the more than 200 million people in the United States with a credit card or charge account, car loan, student loan or home mortgage, then information about you probably is stored in on of the conumer credit databases.

Most of this information about your consumer credit report comes directly from the companies with which you do business with.

You can request a copy of your credit report when you wish.
Benefits of our Debt Consolidation and Debt Management Program

* Cut Payments up to 70%
* Make One Low Monthly Payment
* Elimination of past-due collection calls
* Account re-aging
* Choice of payment dates and payment options
* Waived late fees
* Reduced or elimination of high interest rates
* One Low monthly payment - dispersed to all creditors on program
- posted by Kimberly Credit @ Debt Consolidation & Credit Counseling

 
College Students and Credit Card Debt



Students did you know you are graded on more than the subjects that you are taking. During this time of your independence the use of credit cards will become part of your credit history. Later on in life other creditors will use this information to see whether you are eligible as far as handling your debt obligations in the future.

You can either graduate with a great credit score that may qualify you for a car loan or even a mortgage, or you may have to deal with the stress of a heavy debt load and a ruined credit reputation because you misused your credit privileges while in school.

When you decide to use your credit cards you should think before you say sign me up or charge it. You shuld know how much you can afford to spend before assuming and debt. So when offered that FREE tote bag or FREE t shirt be aware it can turn into a 7k T Shirt if you dont watch what you spend. You should make sure all your needs are covered before spending on things that you want and not need. Establishing a savings plan to cover incase of emergencies and long term goals would be a smart thing to do.

One thing to keep in mind is to not spend more tha you can pay off each month. If an emergency arises and you have to carry a balance on your card you should pay as much
as possible to avoid minimum payment syndrome which will now take years to pay off balances that you have that all started with that free tote bag. Lastly make sure you review your monthly statements to make sure you are being chraged the right fees.

If you are in debt. Our debt consolidation company can assist you with the debt you may have. Credit counseling can help you.
- posted by Kimberly Credit @ Debt Consolidation & Credit Counseling

 
What Can I Afford?

The better your credit, the easier it is for you to qualify for a loan. Can I afford a home? How much money can I qualify for? As a general rule , your buying power is calculated by multiplying your annual gross income by two and a half (2 ½). For example, if you have a household income of $45,000, you might be able to qualify for a $112,500 home. You could actually qualify for more or less, depending on your individual debt, credit history and amount that you have for a down payment.

Debt-to-Income Ratio

Your buying ability will be affected by factors such as your income, down payment, debt, and credit history. Your debt payments, such as credit card bills, car loans, and other expenses such as housing expenses, alimony and child support, should not exceed 36% of your gross income.

To calculate your debt-to-income ratio, divide your total monthly debt expenses by your total monthly income.

Mortgage Types/Lenders

Mortgage types, rates and lenders are usually published daily in the business section of your daily newspaper. Today's homebuyer has more financing options than ever before.

From traditional mortgages to adjustable-rate and hybrid loans, there are financing packages designed to meet the needs of virtually everyone.

While the different choices may seem overwhelming at first, the overall goal is really quite simple: you want to find a loan that fits both your current financial situation and your future plans. Ask your lenders for a "good faith estimate" so you can compare all of your costs and make the decision that will fit into your budget.

Fixed Rate Mortgages

If you plan to own your home for five or more years, a fixed rate mortgage can protect you from inflation. Since your principal and interest payments are fixed, your monthly payment stays the same.

Long-term loans (20-30 years) make it easier for a person to qualify for a loan by giving you a lower monthly payment but at a higher interest rate. This means you are paying more interest for the full term of the loan.

Short-term loans (10-15 years) give you higher monthly payments but the interest rate is lower, which helps you build equity in your home much faster because less of the payment goes to interest.

Adjustable Rate Mortgages (ARM)

ARMs are popular because their interest rates are lower than a fixed rate mortgage, giving you a lower monthly payment. This helps the consumer qualify for a larger mortgage, but the interest rate and monthly rate may change within a given time and to a predetermined amount.

Understand the consequences to your budget by looking at each scenario. Make sure that you can afford your new monthly amount if the rate goes up.

Bi-Weekly Mortgages Recently banks have come up with creative ideas to help the consumer pay their mortgage on a bi-monthly basis instead of the traditional once a month method. Through this method of payment, you can pay off your home in less time with less money. By simply paying half of your monthly payment every 2 weeks, you will subtract 7-9 years off an average 30-year loan. You will earn equity in your home faster because more of your payment is being applied to the principal of the loan instead of the interest. At the same time, if you have Private Mortgage Insurance (PMI), those premiums will also be eliminated in a shorter period of time, which will result in a greater savings over the life of the loan. Your lender, interest rate, escrow payments, etc. all remain the same.

Balloon Mortgages

Balloon mortgages are short-term loans that have some of the features of a fixed mortgage. The loans provide a level payment feature during the term of the loan, but as opposed to the 30 year fixed rate mortgage, balloon loans do not fully amortize over the original term. Balloon loans can have many types of maturities, but most balloons that are first mortgages have a term of 5 to 7 years. At the end of the loan term, there is still a remaining principal loan balance and the mortgage company generally requires that the loan be paid in full or refinanced.

Reverse Mortgages

A reverse mortgage is a complex home loan designed for senior homeowners who have built up substantial equity in their property.

In a reverse mortgage, the lender loans you money based on the value of your home, the amount of equity you have in the home, and your age at the time of the loan application. The lender pays you the money either in a lump sum, in monthly installments, or as a line of credit. Unlike a traditional home equity loan or second mortgage, repayment is not required until you sell your home, move out permanently, or die. The amount of money you owe increases over time because you do not make payments. If you sell your home, you can keep any proceeds from the sale of your home in excess of what you owe the lender. To qualify for a reverse mortgage you must be at least 62 years old and the mortgage on your home must be completely or nearly paid off. You can get a reverse mortgage regardless of your current income.

F.H.A. Home Loans

The "203B" F.H.A home loan requires 3% from the borrower and permits 100% of the money needed for closing costs to be a gift from a relative, non-profit organization or a government agency. F.H.A. home loans do not have strict borrowing criteria. Someone may have had a few credit problems and still be able to qualify for this "203B" loan. For more information on F.H.A. loans go to the website www.hud.gov/offices/hsg and review the different information capsules they have available to the public.

Need a debt consolidation quote.

Credit Counseling can assist you with your debts
- posted by Kimberly Credit @ Debt Consolidation & Credit Counseling