Posted Aug 2 2010 by Marc Chase
We’ve previously blogged about identity theft and the dangers it poses, leaving many victims in its wake as it tears through your credit history like a hurricane or a jilted ex-lover, leaving you to pick up the pieces, wondering how it all went wrong.
Now, while you’re up to your eyeballs in bills and looking for debt relief, it seems those ID thieves have moved onto a new tactic – cradle-robbing. No, they’re not actually out to steal your firstborn; just their brand new and as-yet-untouched social security number.
Many businesses online have started using computers to find unused social security numbers – typically those of children who haven’t even set up a bank account yet – then turning around and selling these untainted numbers under a new name to help people establish a whole new (and wholly fake) credit history, rack up a ridiculously high credit card debt, then just walk away scot-free. Kinda like what Tim Robbins did in The Shawshank Redemption, but used for evil.
Equifax
Showing posts with label Credit Repair. Show all posts
Showing posts with label Credit Repair. Show all posts
8/3/10
How to Repair My Own Credit
Posted Jul 26 2010 by Marc Chase
It’s a common question we get here: “Can I repair my own credit?” The short answer to the question is “yes.” If you need credit repair for your credit card debt problems, you’re going to need a bit of free time and a lot of patience.
Where Do I Start Repairing my Credit?
Your credit reports shape your credit scores. All three of the major credit reporting agencies – Equifax, TransUnion and Experian – allow consumers to pull their reports every 12 months. These reports are free, so there’s no excuse.
How Do I Read Credit Reports?
If you’re new to credit repair then the reports may be a little difficult to read. They’re full of numbers, codes and abbreviations to ensure that they’re both consistent and kept as short as possible. If necessary, find a credit repair services company that’ll give you a free consultation. Not only will they explain your specific problems, but they’ll also give you an idea of what your plan of attack should be.
I Found Some Mistakes on my credit report, Now What?
You need to challenge anything on your reports that’s not 100% accurate. Find a sample dispute letter, list exactly what’s being reported incorrectly and mail it to the credit bureaus. This is a fairly slow process as it’s still being done through the mail. Expect a turnaround of about 45 days and make sure that you’re keeping detailed notes of all correspondences.
It’s a common question we get here: “Can I repair my own credit?” The short answer to the question is “yes.” If you need credit repair for your credit card debt problems, you’re going to need a bit of free time and a lot of patience.
Where Do I Start Repairing my Credit?
Your credit reports shape your credit scores. All three of the major credit reporting agencies – Equifax, TransUnion and Experian – allow consumers to pull their reports every 12 months. These reports are free, so there’s no excuse.
How Do I Read Credit Reports?
If you’re new to credit repair then the reports may be a little difficult to read. They’re full of numbers, codes and abbreviations to ensure that they’re both consistent and kept as short as possible. If necessary, find a credit repair services company that’ll give you a free consultation. Not only will they explain your specific problems, but they’ll also give you an idea of what your plan of attack should be.
I Found Some Mistakes on my credit report, Now What?
You need to challenge anything on your reports that’s not 100% accurate. Find a sample dispute letter, list exactly what’s being reported incorrectly and mail it to the credit bureaus. This is a fairly slow process as it’s still being done through the mail. Expect a turnaround of about 45 days and make sure that you’re keeping detailed notes of all correspondences.
8/2/10
Credit Repair, Debt Relief and Financial Discipline
Posted Jul 28 2010 by Marc Chase
Many of our credit repair and debt relief clients are with us because they weren’t disciplined with their budgeting or with credit card debt. When it comes to your financial future, the important thing is to have a proper plan in place before problems begin to occur. It’ll be easier to maintain a positive balance in your bank account by being proactive rather than trying to make up for a loss after you’ve messed up.
Of course, it’s easy to talk about the importance of a budget. Actually creating and implementing a strict set of guidelines is usually a whole different story. But for those that embrace a disciplinary approach to budgeting, their financial burdens are lessened.
Many of our credit repair and debt relief clients are with us because they weren’t disciplined with their budgeting or with credit card debt. When it comes to your financial future, the important thing is to have a proper plan in place before problems begin to occur. It’ll be easier to maintain a positive balance in your bank account by being proactive rather than trying to make up for a loss after you’ve messed up.
Of course, it’s easy to talk about the importance of a budget. Actually creating and implementing a strict set of guidelines is usually a whole different story. But for those that embrace a disciplinary approach to budgeting, their financial burdens are lessened.
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