Credit Repair

Can you really Fix Bad Credit?

2008-05-01T09:52:00.000-07:00

Yes, Yes and Yes.

I get this question all the time. Many people think that a credit report cannot be changed. Some even think that it is illegal to change it.

Not True. That's OK, the system is set up for you to think that.

All the credit reporting agencies are, are big databases where all sorts of information is collected about you and then sold to people who want to market to you.

It is NOT a government agency.

In fact, the Federal Government passed a law showing how you can challenge items on your credit report. The FRCA is that law that does that.

So if you have Inaccurate or incorrect items on you credit report. Then go change them.

Remember You can legally fix bad credit.

Check out www.bettercreditfacts.com

Don't spend the tax refund if you're in bankruptcy.

2008-02-12T21:24:00.001-08:00

From the Bankruptcy Network.

It’s tax refund season. If you are currently in a bankruptcy, you should not spend your tax refund before talking to your lawyer! Otherwise the court may deny or revoke your discharge.

Source: Bankruptcy Law Network

So the debt is discharged. Can a creditor still collect on it?

2008-02-11T10:01:00.000-08:00

Nope. The problem is that according to a judge in Southern California you cannot bring a legal action against the collection agency directly. You have to apply for an order to show cause and then the judge can issue a contempt order.

Read about it at the Bankruptcy law network.

http://www.bankruptcylawnetwork.com/2008/02/10/im-still-being-collected-upon-by-a-discharged-debt-now-what/

OK found a site about erasing bad credit.

2007-12-04T11:43:00.000-08:00

Charge offs, late payments. They can be removed from your credit report legally.

www.BetterCreditFacts.com

8.3 Million victims of Identity Theft Last Year

2007-11-30T06:38:00.000-08:00

WOW. That's 3.7% of all Americans are the victim of Identity Theft.

The Federal Trade Commission today released a survey showing that 8.3 million American adults, or 3.7 percent of all American adults, were victims of identity theft in 2005. Of the victims, 3.2 million, or 1.4 percent of all adults, experienced misuse of their existing credit card accounts; 3.3 million, or 1.5 percent, experienced misuse of non-credit card accounts; and 1.8 million victims, or 0.8 percent, found that new accounts were opened or other frauds were committed using their personal identifying information.

http://www.ftc.gov/opa/2007/11/idtheft.shtm

How to pay your bills on time

2007-11-26T14:37:00.000-08:00

Here's an exerpt from a great article by Roger Passman over at the Creditrepairman. The full article is well worth reading. Take a browse over there.

People experiencing problems paying their bills are at risk for having
their credit score damaged. This article addresses ways to stretch your budget
and get bills paid on time so that your credit score is not significantly
impacted by repeated late payments.

If your money seems to run out before all your bills get paid there are several things you should do to help keep your credit score from deteriorating. What may seem a no-brainer is to get a copy of your credit reports and see just which of your creditors reports to the bureaus on a regular basis. These are the puppies with whom you should be most concerned because late payments to these creditors will result in damaging your credit score...
Read the rest over at his post above.

Can I pay back my parents before Bankruptcy

2007-11-23T12:13:00.000-08:00

Here's a good article about paying off certain debts before you actually file bankruptcy in court. Doing that can put the payment at risk. In other words the bankruptcy court can reverse the payment and make you get that money back and put it into the pot with any other funds that you have. This is so the money can be used to pay back your other creditors.

Bankruptcy Law Network

An Ounce of Prevention. Save Receipts

2007-11-16T10:39:00.000-08:00

Ok so you're working to repair your credit. (Or at least thinking about doing that). One thing to do is to pay attention to your credit card bill every month. Save your receipts just to make sure that your credit card bill is correct. Mistakes happen. If you don't catch them early enough then correcting them on your credit card gets harder and harder.

Do you suffer from Dissappearing cash syndrome?

2007-11-14T19:45:00.001-08:00

I read this over at the Bankruptcy Law Network today.

A recent survey by Visa reports that half of all Americans admit to spending $120 in cash each week, but can only account for $75. This means that over $2,300 “disappears” each year.

Where does the money go? The post went on to say in went to Cigarettes, candy, money for kids and tolls (among other things).

Not spending your cash wisely can get you bad credit for sure.

So what happens to a house that was in foreclosure?

2007-11-13T19:42:00.000-08:00

So what happens to homes that are foreclosed upon, to the point where all rights of the former home owner are extinguished? Under normal circumstances, it is the foreclosing bank or trust that ends up with good title to the home. The foreclosing entity is then able to market the home in the same fashion that a private owner would.

From the http://www.bankruptcylawnetwork.com