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Take These Steps To Begin Fixing Your Credit Rating



Your credit score dictates your financial future. While it might not seem like it impacts your life in a direct way, it will become apparent the moment you try to take out a mortgage or a loan for a high-priced purchase like a car. This is why it is very important to keep track of your rating and do whatever you can to get the number into a good place. Many people worry that credit repair is too long of a process to bother with. Though it is difficult, an improved score is completely attainable with time.

Look over these steps on how you can begin fixing your credit rating. With a bit of effort, you will start seeing a difference in your score.

Know Your Current Score

Before you can start making any changes to your rating, you need to have a good idea of what your current score is. The average consumer has a general idea of their rating, but most people do not like to look at their ratings out of fear of what they will see. If you have been holding yourself back from looking at your score, now is the time to change the game. Look at your score and report and get a more in-depth feel for what your rating is and what factors have led to this score.

You may look at your rating and discover that you have a decent score already. It is always a lot scarier to face the unknown and assume the worst. Put these fears to rest, check your score, and learn what work you will need to put in to make a change.

Keep Track of the Rating

While getting an initial understanding of your score is crucial for this process, you can’t just look at the rating once and forget about it. In fact, you need to stay on top of the rating if you hope to see improved results from all of your hard work. This means investing in a program or application that assists you with credit monitoring. A program like this will be able to provide you with updated information on your score so you know how your efforts are beginning to change your current rating.

Errors and Negative Marks

The big credit bureaus that control credit scores can be intimidating. Still, these organizations are far from perfect. Mistakes are made regularly and in many cases, the errors are never caught. If you are browsing your report and notice a negative mark that doesn’t seem to make any sense, you want to take the initiative to dispute it. Contacting the right bureau is a great way to get the ball rolling and discover if there are mistakes on your report that are holding you back from reaching your overall financial goals.

Though there is no guarantee you will win the disputes, you have better chances of fixing your score by reaching out and learning more about what marks are working against you. In most cases, simple errors from collection companies can be a lot easier to fix than other issues. No matter what problem you’re trying to dispute, understand that the process can take time and you might not hear back with a direct answer right away. 

Credit Card Considerations

Credit scores can be tricky because there are several conflicting and outlying factors that can confuse matters. For example, you need to have a credit card to create your first credit score. Without a card, you are thought to have no credit and this can be just as bad as having a negative score. What’s more, using your card too much or too little can be problematic for your rating. This means you need to strike the perfect balance with how and when you take advantage of your lines of credit. 

The agencies that determine your score are looking at the limits on each of your cards and how those weigh out against your monthly income. When you are putting too much on your credit line each month, it can start to have a negative impact on your score. If this is the case for you, the best solution is to pay off your credit cards as much as you can before you continue to use them. The lower the balance on each card, the better your score tends to be. 

Focus on High-Interest Issues

When you are dealing with a number of outstanding payments or bills from collections agencies at the same time, it can be difficult to know which of these problems demands your immediate attention. If you want to see the best results from your efforts, then you need to first look at any high-interest accounts you might have. When you owe on an account with a very high interest rate, it can add to your debt in a much more damaging way. Pay these off and it can make the other bills a bit more manageable.

Timely Payments

Another factor that determines your credit rating is whether or not you are paying your bills in a timely manner. When you are late by even a day or so on some credit card payments, it can have an extremely negative impact on your score. The best way to avoid this is by enrolling yourself in automatic debits whenever possible. This ensures payments are always made in an appropriate manner and reduces the odds of late payment fees and negative marks against your credit.

Stay Positive

Finally, you need to keep the right mindset while attacking this issue. Credit scores can often feel unfair and debilitating. While the system is not stacked in favor of the consumer, you need to stay strong and not crumble under the weight of the pressure. By focusing on what you can accomplish through small, manageable steps, you are more likely to start seeing the right results from all of your hard work and dedication to the cause.

Though it can seem like a long and arduous journey, credit repair is an achievable goal when you give yourself time to focus. Learn the best steps to making positive changes to your score and see how you can get ahead financially in no time.

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TML announce launch of new residential Lumi products



Steve Griffiths TML

A new, Lumi-branded, residential product has been launched by The Mortgage Lender, following a rise in demand from borrowers who have been financially impacted by the pandemic.

TML say that the range is available up to 75% loan to value, across four Lumi categories and caters for customers with defaults, CCJs, and mortgage arrears. It also offers enhanced credit criteria for unsecured arrears, bankruptcy and payday loans when compared to TML’s core range.

Lumi products are available for employed, self-employed and complex income applicants. The minimum loan is £25,001 and the maximum loan is £1m with rates starting at 4.98% for a two-year fix and 5.29% for a five-year fix at 70% loan to value.

Steve Griffiths, The Mortgage Lender sales and product director, said: “Now more than ever lenders need to have criteria that caters for a wide range of customer circumstances and recognise that the last 12 months has been financially difficult for many people.

“Our Lumi range, which is available through specialist distributors, takes a pragmatic approach to the real-world experience many of our broker partners are presented with when they are sourcing a mortgage for their clients.

“It offers fair rates combined with a flexible approach to underwriting that provides a stepping-stone for home-movers or those remortgaging and, in some cases, credit repair.”

Doug Hall, 3mc director, adds: “We are seeing increasing numbers of customers whose financial situation has been impacted by the Coronavirus pandemic who need products that are appropriate for their circumstances now.

“Through sharing our knowledge and challenges with lenders, like TML, the specialist lending sector is proving it can meet those needs in a responsible way. The launch of Lumi is great news for brokers and customers. It shows lenders are listening and able to respond to the market, improving customer choice and competition.”

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how to boost a bad credit rating



HOLLAND, Mich. — Your credit score is just a number, but it can make a difference in your ability to get a loan, house, or even a job ,and after a tough year for finances, now is an important time to pay attention to your score.

“You need to have options, and you need to be able to have access, and all of that boils right back down to your credit score,” says Bree Austin-Roberts, a credit expert and founder of Lakeshore Credit Management and Repair Services in Holland. “I think it was a reality check for a lot of people to saying, ‘Hey, it’s time for me to start thinking about my financial situation.’”

Bree’s story is similar to so many of her clients. A few years ago, before she founded her credit repair business, she and her family were evicted from their apartment. Searching for a house and facing homelessness, Bree noticed a similar roadblock everywhere she looked.

“The credit became a problem,” she said. “It always boiled back down to the credit.”

Bree buckled down on payments and in no time had raised her credit score enough to move her family into a home and start up her business. Now helping others achieve the same success, Bree says a few simple adjustments can make a big difference. Her first call was to the three major credit bureaus to check the accuracy of her score.

“Like 80 percent of people in the United States have something that’s inaccurate on their credit report, but a lot of people don’t know because they don’t monitor their credit.”

So start by checking with TransUnion, Equifax and Experian on the accuracy of your score.

If you’re having a tough time making payments this year on bills or installment loans (which Bree says you should always have at least one of), try contacting your creditors to see if they can delay payments or work out some sort of payment plan that works for you.

“Directly related to the pandemic, a lot of lenders are being very lenient,” said Bree.

In addition to making all your monthly credit card payments on time when you can, Bree says it also matters how often you use your credit card, and on what. She says most repair experts will recommend you keep your card usage below 30 percent, but Bree recommends a lower limit for her clients.

“When you’re in the building process, you want to keep it 10 percent or below,” she said. “If you’re planning on making a major purchase in like 30 to 60 days, you probably want to keep your credit card balances between 1 and 3 percent.”

Other tips include becoming an authorized user on a loved one’s credit card. If they have good credit, spending responsibly on their account could help boost your score faster. Just have them ask their bank or credit union about adding you as an authorized user.

You can also open a secured card on your own. A secured credit card is essentially a prepaid card that ensures you don’t miss payments.

And remember: no credit doesn’t mean good credit. Lenders want to see you can responsibly handle debt.

“Having something to report is positive, but it’s the amount that reports that shows your credit worthiness,” said Bree.

What it boils down to, Bree says, is having good habits and sticking to them. Building or rebuilding credit is a marathon, not a sprint, and Bree says patience is key.

“I was never always a credit expert. It was trial and error,” she said. “I have been there before, and it doesn’t take much to end up right back there again if you’re not budgeting well–if you’re not being credit conscious.”

You can reach Bree at [email protected] or on her website or her Facebook and use the hashtags #lakeshoreCredit and #CreditQueen to join the conversation with her.

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Adam Reich On His Journey From A Bodybuilder To Building His Own Empire And Making People Financially Independent



Adam Reich

Adam Reich was born on December 17th, 1985, and brought up in Long Island, New York. Gym and fitness lover, Adam Reich, founder of True Credit Repair, Passive Profits Ecom Automation, ReinventU wellness center, and Health Supplements didn’t always have it all. He found a great deal of success in bodybuilding competitions when he was young. He was falling short of turning professional and thus, in the time that he had, he built a late online personal training business with over 100 subscription-based clients. In 2014, Adam Reich was blessed with twin daughters and a few months later, he had to go take up a job for the New York City department of corrections on Rikers Island. He worked 16 hours a day for 5 years straight surrounded by a bunch of violent people. It was an unsafe job. Adam Reich got fed up and decided to invest all the little money he had onto himself. He worked hard and invested all of his time to finally have something of his own and he did, not just one but multiple companies with 7 figure turnovers.

Adam believes that the success he has had by far is because of the client relations and the results and satisfaction that he and his company have given over time. He believes that he should treat his clients exactly how he would expect to be treated as a customer himself. The reason behind investing in a credit repair agency was because Adam Reich first paid to have his credit repaired by the same parent company and 4 months later his credit soared from 550 to 740 and that opened a plethora of financial opportunities for himself. All of his companies are driven by customer satisfaction. He has learned that he must never over-promise to make a sale. He provides a service to his clients that he is proud of but sometimes he tends to over-deliver but he has learned from his past mistakes. Adam Reich believes that delivering a product is important but what’s more important is building a brand along with a reputation as this would help him and his company in the longer run.

Since Adam Reich realized his worth was more than that 9 to 5 job, within 6 months, he left the prior job to invest in himself, moved to Boca with his family, and built a beautiful life in South Florida. It has been great for Adam since then as he has been able to increase his salary tenfold and all the credit goes to his determination and hard work. He also worked towards making it easier for his clients to change their financial situation by providing them with abundant opportunities. That’s all that Adam has always wanted, to help others better their situations. He has had the time to experience a 9-5 job and knows how it feels to miss important events and not being able to spend time with family because of lack of financial freedom which is why he has built this empire so that nobody else has to go through what he went through.

Adam Reich has always kept his priorities straight and his clients are everything to his brand. He goes out and about for them and relates with each individual. He believes in the saying, “show me your friends and I’ll show you you’re future” and that’s why he surrounds himself with the right people always. Since he moved down to South Florida from New York, he has made sure to keep the right people beside him who give him the motivation he strived for. Adam Reich even met his fellow investors at that time and is friends with them. These are the people he used to look up to and hoped to become like them one day. To the colleagues in his industry, Adam Reich wants to mention that people should focus their energy more on customer service. Building results and winning client’s trust is very important to go far ahead in this business.


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