Your Credit Score?
It’s a story you hear all too
often: a happy couple, after hoarding every penny they’ve earned for years,
finally decides to pull out their savings and buy their dream home. They spend
weeks looking at available homes, touring with their real estate agent every
day. If you are interested in obtaining a short term loans, you should carefully research your prospective payday loan provider before you submit an application. Be sure that you are comparing apples to apples. While all payday loans are basically similar, not all lenders are willing to provide you with the same terms. As such, you may want to choose a payday loan lender based on additional factors including: fees, interest rates, service fees, and credit limits. Some payday loans may require additional collateral in order to be approved.
And then they find it – the one house that perfectly meets all of their needs – only to have their loan application rejected. Their real estate deal falls apart and they cannot purchase the home. They are embarrassed in front of their family and friends, and angry at the bank. Why did this happen? It turns out they have a couple of negative items on their credit report they did not know about. Because of those negative items, the bank felt they were a bad credit risk and the bottom line was no home loan.
You may be skeptical, but this happens all too often. People think just because they pay their bills on time that their current report is accurate, and find out after the fact that several errors exist on their credit report. On the flip side, however, every once in a while something happens where people have to pay a bill a day or two after its due, nevertheless, that’s all it takes because creditors input monthly to the credit bureau.
Typically, a negative item such as a late or missed payment will remain on your credit report for seven years! Even when you make up the payments and the late fees on top of that, anyone who accesses your credit report in the next seven years will see the negative items.
Equifax, Transunion, and Experian have become the three major bureaus of the consumer credit report market. In addition, there are approximately 700 information brokers reporting, disseminating, and collecting data about public debt and payment history. Basically, credit reporting is a huge, billion-dollar business. In fact, over one billion credit reports are issued each year!
The sources used to obtain your credit history are mainly creditors (lending institutions), you, and public records (bankruptcies, etc.).
Any time you answer a pre-approved credit card offer, or apply for a car or house loan, the lending institution buys a copy of your credit report, and that information is added to your history. A creditor inquiry is added to your credit report for two years, but by itself isn’t negative or positive. But if you apply for a car loan with a number of different lenders, your credit score will drop because creditors see you as too much of a repayment risk.
There are so many ways bad credit can affect you, and you may never know that it is the basis of your problems. The couple at the start of this article lost their dream home because of bad credit; it can happen to anyone. You may still obtain a home loan, if your credit report has a negative item or two, but you will pay a higher interest rate for it. Your home loan’s monthly payment can be raised dramatically by just a 1% increase in your interest rate.
Although they must obtain your permission first, current or potential employers can request your credit report. Yes, an employer can hire, promote, and even fire you depending upon your credit history. If you are told an employer based his decision to not hire or promote you because of your credit report, by law, the employer must give you with a copy of your credit report. Plus, they have to give you the phone number of the credit bureau and let you know how the bureau can remove inaccurate information.
The public’s habit of spending money – credit and debit repayment – is the basis of today’s economy. Unfortunately, you may not even know how adversely your negative credit history is affecting you. Do you want to learn how to get rid of these negative items? Do you want to know how to have a clean slate? Well keep reading on …
If you are interested in obtaining a short term loans, you should carefully research your prospective payday loan provider before you submit an application. Be sure that you are comparing apples to apples. While all payday loans are basically similar, not all lenders are willing to provide you with the same terms. As such, you may want to choose a payday loan lender based on additional factors including: fees, interest rates, service fees, and credit limits. Some payday loans may require additional collateral in order to be approved.
You are going to learn:
The Table of Contents:
Section 1: Explains your rights under the Fair Credit Reporting Act and the Fair and Accurate Credit Transactions Act.
Section 2: How to Improve your Credit Report/Score
Section 3: Offers tips on dealing with debt.
Section 4: Cautions about credit-related scams and how to avoid them.
Section 5: Offers information about identity theft.
Lists resources for additional information.
That is enough about everything, I mean the eBook is for free, so why not just give it a shot.
All you have to do is sign up where it says, “Enter Email Address Here, and it will take you to a page where you sign up, and just enter your E-Mail address and answer a quick question about your debt! The site also helps users get back on track for FREE!
Users can choose
–Get out of debt
-Get a short term loan up to $1,500
-Get an auto loan
-Get a free copy of their credit report
-Eliminate their credit card debt