Friday, December 30th, 2011 at
7:06 pm
Details of the Credit Repair Process
If you are one of the many whose credit rating has been suffering for the past years up to this holiday season, you can now take action and do the things you need in order to get back on track with a good credit score. First off, you can get a free online credit repair guide that explains the details of the theory and requirements behind the process of credit repair. Here are the steps that you should take:
1.) Ask for a copy of your credit report. It is important that you obtain the free yearly credit report you are eligible to have from every credit reporting agency.
2.) Check your report. Look at every item and make sure you are aware of each one that is listed whether it is good or bad.
3.) List all the items you think are negative or questionable. Remember that you have to dispute the negative ones whether you agree to them or not so you have to take notes. You have the right to legally argue anything in your credit report.
4.) Compose your dispute letters to the credit bureaus. You can find sample letters that you can use as reference while writing.
5.) Send your letter to the credit bureaus through mail. Use certified mail to obtain proof that the bureaus have received them. Bureaus have 30 days to fix disputes. If they cannot accomplish it within a specific time, the item must be removed.
6.) List and track your efforts. Note down when you mailed letters and the results you obtained.
7.) Wait for the bureaus’ investigation of your claims. Take note if the bureau gave a timely response. If not, the listing must be removed.
8.) Check the results. Once the bureau has given you a response, check the adjustments and changes in your credit report.
9.) Repeat. Raise your negative items again but make sure to note the variations in grounds for the dispute compared to the previous time.
Friday, December 30th, 2011 at
6:56 pm
A new study shows that the slow U.S economy has greatly decreased the number of illegal immigrants from Mexico. From a high rate of 1.6 million in 2000, the number of arrests decreased to 327,000 last year. This is a great decline since the early years of the 1970s.
Duane Conder, a freelance photographer is now selling most of his belongings in Ebay as he and his family is getting ready to move.
He said that it will be traumatic since his family has lived near San Diego for the past 11 years.
He shared that it just seemed so sudden that all the work was gone in an instant.
During the dot-com boom, his family moved from Texas to California. However, since California is currently struggling to provide jobs to their citizens with an unemployment rate of 11.7%, they had to foreclose their home and are forced to move out of California to go back to Texas.
The unemployment rate in Texas is lower compared to California at 8.4%. In 2010, around 75,000 new residents moved to Texas while California lost about 130,000.
Aside from having no jobs as the main reason for the movement of the people, housing is also another factor. In Los Angeles, a 3 bedroom home sells for about $1 million. A similar 4 bedroom house is only selling at $380,000 in Texas. The people who purchased the more affordable homes are those who moved from California.
Bill Gaiennie moved his family and business from California to Texas. He said that they will stay in Texas and just visit California from time to time. They exchanged their 1 bedroom apartment for a 4 bedroom home. He said that if they stayed in California, they need to be a two income family in order to live in the place that they are in right now. However, the no personal income tax and lower cost of living in Texas currently allows him to sustain his family even with only him working.
Friday, December 30th, 2011 at
6:41 pm
Increasing Number of Students Looking for a Loan
Education in the US is more likely to be costly. Still, there are a few college students who can pay for their education without taking out any loan. However, college students with a history of bad credit might find it difficult to obtain a loan. Nevertheless, it is not completely unachievable even with their bad credit scores for as long as they are willing to spend time and effort to look for the right choices that are most suitable for them.
College students can start securing a loan through a FAFSA application. This is a free application that can be done online for a Federal College Student Aid. This application is designed to exactly evaluate the financial standing of petitioners while figuring out if they are qualified for any government assistance.
Despite having a bad credit history, college students might find that the authorities have loan shows that can give them their demands and needs at the same time. For instance, the “learn and earn” loan allows students to produce hard earned cash to afford their education and learning expenses through projects made by the government. Some students may also find themselves eligible for Pell Grants, which is like complimentary money because it does not have to be repaid like a loan. Details of the FAFSA loan and its application can be found in its website.
The application process is straightforward that students can quickly follow it. Almost all items and the approval process happen online. The form is specifically made in a way that it does not consume time.
There are many possible loan opportunities available to students with poor credit history. In case FAFSA does not approve them or if the funds they obtain from FAFSA are not sufficient, they can always seek business college students for additional assistance.
There are several businesses that commit to help college students with poor credit ratings in looking for a loan. There are also some businesses that help college students find financial assistance like foundation and authorities grants.
Tuesday, December 20th, 2011 at
6:51 pm
The Christmas season builds up the desire of many people to give their family members the gifts that they want and allow them to enjoy the holidays. But, this requires extra funds. While this is not difficult for those who have good credit standing, those with bad ratings do not have so many options to turn to in this time of great want. Good thing that there are already many lending options today for those with bad credit especially in the form of Christmas loans.
A Christmas loan can be availed by anybody without the need to go through a credit check. This is because the lender of these loans does not consider the credit score of the loan applicant. What they look at is the current income of the
Image by jferzoco via Flickr
borrower. If they see that the borrower has the potential to pay the loan using the salary he is currently earning, they will approve the loan even if the applicant has low credit ratings. The lender can even release the money in the quickest
possible time which makes it very convenient for early holiday preparations.
This type of loan can be availed for as long as the applicant meets certain requirements
like age and bank account. Since there are different lenders offering this loan, each one has their own terms and conditions. For this reason, it is essential for a borrower to carefully look at the many options before choosing their lender. The factors to consider are the affordability of terms and the amount of loan the lender provides to their borrowers. Also, the amount of interest must be taken into consideration because this determines the real cost of the loan.
Application of Christmas loans can be done online. A simple application must only be filled up completely and submitted to the lender. Once approved, the lender can release the money on the same day it is applied. Christmas loans are truly helpful for those who want extra cash for this very special season.
Monday, December 19th, 2011 at
11:18 pm
Is Debt Consolidation Effective in Debt Settlement?
Debt consolidation is a process of settling your debt. Although very popular, most people ask if it is an effective method even for people who are already swimming in debt.
The straightforward answer to this is NO. Usually, opting for debt consolidation does not decrease the total amount of debt you owe. What it simply does is to combine all your debts and allow you a way to make monthly payments that will settle a portion of all your dues. Your payment goes to an agent or debt consolidator who will normally charge a significant fee for the service they are providing of getting your monthly payments and making sure that every creditor is paid on time with the sufficient amount.
In the past years, there have been plenty of scams associated with debt consolidation that have taken away millions of dollars from individuals who paid their dues and later realized that their money never reached the creditors or were handed in late that is why penalties and high interest rates were charged. This led them to suffer a worse condition compared to where they started.
There are also loans for debt consolidation that are charged with high interest rates for those who do not have sufficient cash to settle their bills each month. This is an even worse option in many cases. The reason for this is that the loan will most unlikely cover all of your debts which means that you still owe a lot to your creditors and you have another loan to a new creditor. When you carefully analyze this, you have a higher total debt than the time you started with the consolidation.
Debt consolidation and loans may just lengthen and worsen your existing debt. Oftentimes, they do not get people out of their debt situation.
