If you want to fix your credit reports because you have bad debts that have become charge-offs, write-offs, collections, tax liens, Repo, Judgement or have an old bankruptcy that has been on for more than a decade. Then it's time for you to have it cleaned just like when you clean a room in your home. Clutter and trash have to be removed now. Up to now, most of us go to a credit counseling agency which is okay if you have a debt that is still collecting and you feel you can pay it off in time. But if not, you need help. In cases like that you go to a credit clinic so they clean all your reports so you can start over with loan applications and land the money to buy things but as I have seen with many clients, that does not last and somehow, creditors return and usually sooner than expected. Most credit clinics do not give refunds because of expenses during credit repair disputes leaving you with bad debt, wasted time with less cash and a big regret. You can try signing up with a free credit report company to dispute credit items that are not yours and some that are with hope they come off and stay off but usually end up in disappointment at some point unless you are lucky. Lucky is also short term. But my advise is that you get help in your disputes and also maintaining good credit. The more you know the better. The credit repair kit gives out all the secrets of credit repair and saves you a lot of money in the long term without hiring a pro or a credit clinic or even wasting time with a counseling agency. You can do it yourself with this kit that tells all. The price is about $20 for the ebooks on how to repair credit. Go to my websitehttps://atcreditrepair.xyzand learn what guys like me do to fix client reports and get this work done on your time and your pace. Good credit is always possible! ...read more

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Whether it’s luxury vacations and other big-ticket items or simply day-to-day expenses, there’s no question Americans like to spend. In turn, they rack up significant credit card debt. Americans owe a total of $779 billion in credit card debt at an average of $16,748 per household, according to NerdWallet’s 2016 American Household Credit Card Debt Study. Credit cards help bridge the gap between the things we want and need, and what we can afford in the moment. For the privilege, consumers are charged interest. While the benchmark interest rate remains remains low and encourages spending, the average credit card annual percentage rate (APR) for new cards is at an all-time high of 15.59 percent. These rates can be costly. According to NerdWallet, American households spend an average of $1,300 per year in interest. If you’re accumulating credit card debt and struggling to keep up with payments, it’s time to develop a plan of action to pay off your card balances. Look at the Big Picture Before mapping out which cards to pay off and how to do it, you should take time to look at your overall financial health. Start by examining your credit reports. You’re entitled to view your credit report from each of the three major credit bureaus (Experian, Equifax, and Transunion) for free once a year. Make sure your reports are free of errors and inconsistencies. If you see anything that might be hurting your report or driving up your interest rates, you can challenge those items with the bureaus. Consider working with a professional credit repair service, which can help you check your credit reports and advocate for necessary changes. One Account at a Time Once you’ve examined your overall financial health and credit reports, it’s time to decide which credit card account to pay off first. Generally, it’s a better idea to pay off one account at a time, instead of making random payments on every one of your cards. Deciding which card to start with is simple: pick the one with the highest interest rate. The card with the highest interest rate is costing you more money per month than your other cards. Next, call the credit card companies to see if you can secure a lower APR. If you’ve made adjustments to spending and eliminated any irregularities in your credit report, you might be able to lower your APR by a few valuable points. After you’ve selected which card to pay off and secured a low APR, create a budget that allows you to meet your current obligations (housing costs, food, etc.), but still pay down your credit card balance. Look at your spending history and cut out any non-essential items. This could mean sacrificing eating out or going to the movies. If, after working to pay down your credit card balances, you don’t see improvement in your credit score, contact a credit repair service for help. Reputable credit repair services help develop a plan based on your specific situation. Contact CreditRepair.com today to discuss your credit repair needs and options. We’re a trusted credit repair company service provider with direct partnerships with the three major credit bureaus. ...read more

Whether it’s luxury vacations and other big-ticket items or simply day-to-day expenses, there’s no question Americans like to spend. In turn, they rack up significant credit card debt. Americans owe a total of $779 billion in credit card debt at an average of $16,748 per household, according to NerdWallet’s 2016 American Household Credit Card Debt Study. Credit cards help bridge the gap between the things we want and need, and what we can afford in the moment. For the privilege, consumers are charged interest. While the benchmark interest rate remains remains low and encourages spending, the average credit card annual percentage rate (APR) for new cards is at an all-time high of 15.59 percent. These rates can be costly. According to NerdWallet, American households spend an average of $1,300 per year in interest. If you’re accumulating credit card debt and struggling to keep up with payments, it’s time to develop a plan of action to pay off your card balances. Look at the Big Picture Before mapping out which cards to pay off and how to do it, you should take time to look at your overall financial health. Start by examining your credit reports. You’re entitled to view your credit report from each of the three major credit bureaus (Experian, Equifax, and Transunion) for free once a year. Make sure your reports are free of errors and inconsistencies. If you see anything that might be hurting your report or driving up your interest rates, you can challenge those items with the bureaus. Consider working with a professional credit repair service, which can help you check your credit reports and advocate for necessary changes. One Account at a Time Once you’ve examined your overall financial health and credit reports, it’s time to decide which credit card account to pay off first. Generally, it’s a better idea to pay off one account at a time, instead of making random payments on every one of your cards. Deciding which card to start with is simple: pick the one with the highest interest rate. The card with the highest interest rate is costing you more money per month than your other cards. Next, call the credit card companies to see if you can secure a lower APR. If you’ve made adjustments to spending and eliminated any irregularities in your credit report, you might be able to lower your APR by a few valuable points. After you’ve selected which card to pay off and secured a low APR, create a budget that allows you to meet your current obligations (housing costs, food, etc.), but still pay down your credit card balance. Look at your spending history and cut out any non-essential items. This could mean sacrificing eating out or going to the movies. If, after working to pay down your credit card balances, you don’t see improvement in your credit score, contact a credit repair service for help. Reputable credit repair services help develop a plan based on your specific situation. Contact CreditRepair.com today to discuss your credit repair needs and options. We’re a trusted credit repair company service provider with direct partnerships with the three major credit bureaus. ...read more

ou’re getting ready to apply for a car loan or a mortgage, and a bad credit score could stand in the way of getting a good interest rate. You’ve pulled your credit report, and 690 is the magic number. The right number could mean the difference between a great interest rate and a mediocre rate, or even the difference between approval and denial. So where does a score of 690 leave you in the grand scheme of things? Credit Score Ranges FICO credit scores range from 300 to 850, with 300 being very poor and 850 being perfect. FICO scores are used by 90 of the top 100 largest U.S. financial institutions to make consumer credit decisions. A credit score of 690 is in the high range of average, meaning that you might have a damaged credit history but that in general, you’ve made most of your payments on time. Still, if you’re looking for the best rewards credit card or a low-interest mortgage, you have some work to do. An excellent credit score is in the 720 to 850 range, so if you can boost your 690 credit score by just 30 points, you’ll be in much better shape. Improving Your FICO Score If you’re looking to boost your credit score from average to excellent, then you should understand how a FICO score works and what factors are taken into account when it’s calculated. Your FICO score is a function of your: Payment history. This is easy to improve or maintain: simply pay all of your bills on time. Credit utilization. Avoid carrying more than 30% of the total credit limit on an account at any time, so if you have a limit of $1,000, keep your balance under $300. Total debt. The less debt you have, the less of a liability you are to credit card companies, so pay down your balances quickly. Account age. This takes time, but avoid closing old accounts — if you aren’t using them, just pay any associated annual credit card fees and set aside the card in a drawer. This keeps your average account age skewed high, which is good for your score. Hard inquiries. Avoid inquiring about new credit lines unless you actually need them at the time. Too many new applications can hurt your credit score. Luckily, you have control over all of these factors, and you can improve your credit score by making changes to the way you handle your credit accounts. On-time payments and low revolving debt balances are important factors, and you can improve your score quickly by prioritizing the way you pay off debt. Not Sure What to Do? Your first step is to pull your credit report and identify any areas where you need to make changes or improvements. You are entitled to one free credit report every year from each of the three credit bureaus — TransUnion, Equifax, and Experian. If you feel lost, then contact a trusted company for free credit repair help. At CreditRepair.com, we offer free personalized consultations, credit report audits, and score evaluations. We’ll discuss your credit score with you and help you identify solutions that ensure your credit report is fair and accurate. Don’t delay when it comes to repairing your credit score, contact us today. You can also carry on the conversation on our social media platforms. Like and follow us on Facebook and leave us a tweet on Twitter. ...read more

Nowadays is essential to have a good credit score. The status of your credit rating will have a massive effect on your future financial endeavors such as buying a car,a house or even landing that dream job. To improve your rating you need to repair your credit, unfortunately, it consumes a lot of time, money and effort. Please, let me introduce you credit360. A elite team of credit experts that know exactly what techniques will assist you with increasing your credit scores. The dedication to your credit success is seen by our proven results. Our effective disputing strategies usually allow us to remove collections, charge-off's, reposessions and foreclosures quickly. ...read more

5 Biggest Mistake Home Buyers Make Purchasing a home is an exciting experience. At the same time it can be a little scary if you don’t know what to expect. Many potential home buyers apply each year for a home loan to live the American dream. Unfortunately many of them are denied for their loans due to common avoidable mistakes. This Special Report has been prepared for you to outline the 5 biggest mistakes home buyers make and how you can avoid them. You will also learn 3 guaranteed ways you can apply and be APPROVED for your home loan. This special report will provide you the information you need to insure your loan application process goes smoothly and that you are approved for your new home. To get started we will take a look at the 5 biggest mistakes that most home buyers make. 5 Biggest Mistake Home Buyers Make Mistake #1 Applying for a Home Loan with Unresolved Credit Issues Many borrowers apply for home loans each year knowing they have credit problems. In most of these cases the consumers were victims of a broken credit system. Usually one event happens which causes the consumer to go late on some payments. The credit then becomes damaged, and the credit quality starts progressively getting worse. Eventually the consumer cannot apply and be approved for new credit due to the resulting credit damage. In this case most borrowers do nothing. They simply wait for the credit to get better which never happens. As the negative items sit and fester on the credit report, the credit scores continue to decrease. With no improvement and no new credit being added, the credit scores will then stay low or go lower through time. 5 Biggest Mistakes Most Home Buyers Make 4 When this happens, the credit quality is so bad that the borrower will quickly be declined for a home loan and most other type of loans they will apply for. Don’t make this mistake. Credit does NOT fix itself, and if you have only older negative accounts on your credit you will more than likely be denied a home loan if you apply. Focus on repairing some of these issues before you apply. The only way to repair these issues is to focus on deleting negative accounts while adding positive accounts in their place. Following these steps will dramatically improve your credit profile and increase your credit scores so you will qualify. Mistake #2 Paying of Collections to Increase the Credit Scores Most consumers believe that by paying off collections they are improving their credit scores. Collection companies commonly miss-inform consumers this will help their credit. Many mortgage brokers also tell customers to pay off collections and then come back and “maybe” you will qualify. Many home buyers try to pay off all their collections before applying for a new home loan so they will be approved. In reality paying off collections does NOT help credit scores. Once an account goes into collections it is listed as a “9” status which designates a charge-off. If you pay a collection the status still stays a “9” collection status. The balance reports as 0, but the collection status and damage still remains. Your credit score is a number which reflects your risk of defaulting on accounts in the future. When you have an account which goes to collection, you have shown the greatest risk of default on that account. Paying the account after collection will not reduce your risk of default, so your scores stay low even if the collection is paid off. 5 Biggest Mistakes Most Home Buyers Make 5 The only way to truly fix credit is to have that item properly disputed and deleted. If the account is deleted there is no record on the credit that it ever existed. Plus the credit scores increase also as if they account never existed. Don’t make this mistake and throw money away by paying off collections. Paying off collections will NOT raise your credit scores and will not increase your chances of getting approved. Y ou are better to save your money and use it for a professional credit improvement system and to use towards your home purchase. Mistake #3 Waiting to Purchase until the Credit Gets Better Many consumers wait to purchases a home until their credit is better. They wait and wait, but the credit doesn’t get better on their own and they are left forever waiting for their opportunity to qualify. Your credit scores and credit profile will NOT get better with time. Most negative accounts will remain on the credit report for 7-10 years past the date of first default. So if you wait for these items to drop off your report, you could be waiting for a decade or more and miss out on great interest rates and loan terms. Most consumers with credit issues struggle to get approved for new credit. In the end many give up and leave their credit with no positive accounts reporting, only older negative accounts. When this happens all that is left on the report are negative accounts. This will keep the credit score low permanently. If nothing is done with the credit the negative items will eventually drop off in 10 years or so. But with no positive credit reporting the scores will then be 0 and the consumer will not then qualify for a home loan with that score. Don’t make this mistake. Your credit profile and score will not get better on their own, no matter how long you wait. 5 Biggest Mistakes Most Home Buyers Make 6 The best solution is to have a professional credit company walk through your report with you to see what can be done. In most cases they can help you delete negative items from your report while helping you get approved for positive credit. Your credit scores will then increase, and you can quickly have a credit profile where you can apply and get approved for your new home loan. Mistake #4 Attempting to Get Credit Approved with a Co-Borrower There are many instances in which a co-borrower can be added to a loan to help with qualification. One of the best reasons for a co-borrower to be added to a loan is so more income can be shown to increase the amount of home you might qualify for. Even though there are many other examples of where a co-borrower can help secure loan approval, a coborrower will not help an application for credit purposes. Each borrower on a loan must have the credit to qualify for that loan. So even if you have an excellent credit co-borrower, your credit would also have to be acceptable to be approved. If the credit score requirement for your home loan is 640, both borrowers must have above a 640 score to qualify. If a borrower has a 720 credit score and the other borrower only has a 620 credit score, the lower score borrower could not qualify to go on that loan. All borrowers on the loan must have an acceptable credit score. Co-borrowers cannot be added to get past these credit requirements. Don’t make this mistake. If you have credit issues and know of a co-borrower with no credit issues, you will not be able to be put on that loan until your credit issues are corrected. 5 Biggest Mistakes Most Home Buyers Make 7 You must have an acceptable credit profile and credit scores to be approved for a home loan no matter whether you are the borrower or co-borrower. Speak with a professional credit company about what can be done to improve your credit. Once you have an acceptable credit score you will qualify and might not need a co-borrower on your loan. Mistake #5 Ignoring Credit Issues Until You Find a Home Most consumers ignore their credit issues until they find something they want to buy. A lot of borrowers come to get approved for a mortgage only after they have found a home they have fallen in love with. Then they apply just to find they don’t have the credit to qualify, and they miss their opportunity to own their dream home. If you know you have some credit issues you should talk with a credit expert before applying. A good credit company can help you resolve most of those issues. The credit repair process does take some time, so you want to get started before you find a home you love. As soon as you know you are sure you want to own a home make contact with a credit firm. Have them review your report with you to see what they can do to help improve your credit profile. Sometimes the improvement process might take only 30 days. In other cases you might need 6-8 months of work done before you qualify. You want to insure you have more than enough time to put your credit in order to qualify, so make contact with a professional credit company the minute you know you want to buy a home. This way your credit will not hold you back from owning the home of your dreams. Don’t make this mistake. Make sure you obtain a free credit report and contact a professional credit company for an analysis. You can then have many of your credit issues fixed before you apply for your new home loan. 5 Biggest Mistakes Most Home Buyers Make 8 3 Guaranteed Ways to Get Approved for a Home Loan ...read more

With credit a hot topic in today's society, social media is more than skeptical when it comes to the FICO credit score and whatfinancial problemsa badcredit scorecan potentially cause. Although a person'scredit scorecan provide a lot of insight into possible risk due to poor money management, debt load, or existingfinancial problems,it can also causefinancial problemsthat didn't exist beforehand due to poor risk management, employment decisions, or impacted living. Risk Management Great credit scores don't mean great customers, and the when lazy lenders look at the number instead of the wholeinquiry,they put their clients at risk. For example, an elderly woman with acredit scoreof 680 might qualify for a great rate, but she wants to borrow money to take care of funeral costs for her husband. She has a small pension, several credit cards and with her husband’s passing, has lost a second income. Realistically, extending this woman more credit could actually put her at risk for futurefinancial problems, primarily because a number can't assess her situation on a personal level. Employment Decisions Top of his class, graduate with honors, four years of experience, and he aced the interview! The young man in question is a prime employment candidate - that is, until his boss runs aninquiry. Although Experian, Equifax, and TransUnion have stated on record that they do not provide employers with a score, they do provide them with a record that can reveal previous jobs, past addresses, aliases, and financial information such as recent inquiries, debts and legal actions. When aninquiryreveals an applicant has some seriousfinancial problems, he or she may be denied a position based on information that is not representative of their workplace abilities. Quality of Life Every citizen has a right to a safe place to sleep, and by law are required to carry insurance when driving. Using credit to determine if an individual qualifies for a roof over their head or denying them the ability to abide by the law due tofinancial problemsisn’t just immoral, it’s unlawful, and concerns over increased use of FICO scores to ostracize individuals withfinancial problemsmay soon force government bodies to step in and say enough is enough when it comes to inquiry. Until then, individuals can only try a clean record by making timely payments, avoiding collections, and removing unwanted inquiries with the help ofInquiry Bustersto ensure they aren’t denied important opportunities. ...read more

If you have ever had toremove inquiriesyourself or have contactedInquiry Busterstoremove inquiries,you probably had one or two from debts that you didn’t think about until it was too late, and that’s because when it comes tocredit score, there are a handful of usual (but often forgotten) suspects.   1. Defaulted Services   You forget the cable bill, and now you're in collections. Services providers don't play around, if you miss more than two bills in a row, you will seehard inquirieson your bureau.   2. Gym Memberships   Although it might seem easier to just stop paying, if you don't cancel your gym membership properly, there will behard inquiriesfrom collections.   3. Car Rentals   Most rental agencies require a credit check when reserving by debit card. To avoidhard inquiries, use your credit card, there is no credit check and you can still pay it off right away.   4. Overdue Rent   Landlords aren’t interested in excuses, and if you are more than a month behind you will be reported.   5. Unpaid Traffic Tickets   If you don’t pay now, you will pay later. Unpaid parking or traffic tickets will damage yourcredit score.   6. Unpaid Taxes   Even if you evade the taxman for a while, eventually you will be caught: don’t pay, don’t play.   7. Unreturned Rental Items   Library books, power tools, DVDs – whatever you borrow, if you don’t return it you will be charged daily late fees and eventually, the cost of the item, which will result inhard inquiries.   8. Unpaid Medical Expenses   Hospitals don’t chase people, they report them. If you don’t pay your deductable when it’s due,hard inquirieswill damage yourcredit scorelater on.   9. Unpaid PRAs (Payday Loans)   When payday companies can’t find you they will sell your file, and that meanshard inquiriesfrom a variety of eager collectors.   10. Applying for Credit   Every credit card application you send means that you may have toremove inquirieslater on, because every individualinquirycan damage yourcredit scoreby a handful of points. ...read more

Openly challenged by VantageScore's new dynamic credit model, in 2015 TransUnion has rolled out its own commitment toimproving credit: a bettercredit scorefor responsible payers, guaranteed.   In fact, TransUnion's new CreditVision suite isimproving creditoptions by introducing scoring based on an account history of 30 months and performance data for the last 82 months. Still scoring individuals between 300 and 850,improvingcredit scorecriteria means that over 26.5 million customers who were previously unscoreable will now generate and be eligible for credit.   What is the difference between a static and dynamic report?   Static credit reports are an unchanging picture of your credit, as most recently reported by your lenders and debt collectors. Unlike a dynamic report, a static report will not show your current payments, how much you paid, or did you pay early etc. it will simply report on if you did or did not pay on time which means you are not actually rewarded for doing more than the bare minimum.   TransUnion’s idea is actually a very smart one becauseimproving creditshould be easier for those who use credit responsibly, and do more with their credit than what they have to do. By using a new dynamic method,improvingcredit scoreis now about good practises not just minimum payments.   How do should you startimproving creditwith the new model?   Pay your bills on time or early, pay your bills in full, pay more than the minimum payment on your credit card products, avoidhard inquiriesorremove inquirieswith the help ofInquiry Busters,and avoid maxing out your credit cards or spending beyond what you can comfortably pay back.   Will all lenders report data to the CreditVision system?   Unfortunately, no. While TransUnion is taking a step in the right direction, change takes time, and many businesses will continue reporting only the bare minimum which is:hard inquiries, payments made on time, minimum payments made, missed payments and defaulted loan amounts.   But, although some lenders will need time to catch up, it still pays to focus onimproving creditnow. ...read more

New house? Denied. New car? Denied. New job? Denied.   It’s true, in today's digital age yourcredit scoreis tantamount to your professional reputation, and while a good score comes with all the perks, a bad score comes with all the problems. If you have found yourself in a position where you can't qualify for credit, have multiplehard inquiriesor yourcredit scoreis affecting your ability to live your life, it's time to think about your options.   Although there is no quick-fix for a badcredit score, there are some things that can help give you a temporary boost right and away, and these include:   1. Paying off any outstanding balances   Keeping your credit card balances low (about 30% of your total limit) can help boost yourcredit scorein as little as 30 days.   2. Paying off any outstanding collection items   While paying off collection debts won't make bad credit good, it will prevent these debts from doing more damage or forcing a skip-traceinquiry. One step forward and two steps back never works, so step one of repairing yourcredit scoremeans stopping it from getting any worse.   3. Removinghard inquiriesfrom your file   By contacting companies you have dealt with directly, or hiringInquiry Bustersto do it for you, you can potentially raise yourcredit scoreby a handful of points immediately simply by removing some of thehard inquiriescurrentlydamaging your score.   Remember, rebuilding your credit is a long-term investment   While these tips are not the only things you can do to help yourcredit score, things like paying your bills when they're due and establishing history take time, sometimes more time than you have. In these cases, it may make sense for you to get a co-signer if you need a product or service that requires credit right away because dual signature lends will appear on both bureaus as open trade and recentinquiry,improving both scores at the same time. Although risky, co-signing is a viable last-chance rebuilt option for individuals genuinely struggling to rebuild on their own.   ...read more

If you've been hit hard byhard inquiries, you might not feel it right away - if fact, you probably won't feel it until it's time for you to borrow. Although multiplehard inquiriesare an occasional fact of life, the reality of finance is this: lower score, higher rates.   Even if you find a company that advertises low premiums, you may no longer be eligible if you have a mile long history ofcredit inquirywith other companies first.   To help you, here are the real facts abouthard inquiries:   ·        Any more than 1-3 inquiries in 6 months can drastically lower your credit score ·        Anyhard inquiriesof a similar nature (such as vehicle loans or mortgages) processed in a 45 day period are protected, and count as a ·         singlecredit inquiry ·        Anyhard inquiriesthat appears on your bureau can be removed if you did not give your express permission or, alternatively, if the company which processed your credit check cannot expressly prove that you gave permission ·        Anyhard inquiriesyou make will remain active on your bureau for 2 years unless otherwise removed ·        Anycredit inquiryyou make in regards to your own credit will not reflect on your bureau, because these inquiries are not consideredhard inquiries   Unfortunately, if the company you are dealing with isn't a reputable one you may find yourself out of both luck and options when it comes toimproving credit, especially if you have been saddled with unwelcome or even illegal inquiries on your credit bureau.   That said, if you plan onimproving creditmost if not all inquiries can be removed from your bureau if you're willing to put in the time and effort to get them taken off or choose to deal withInquiry Busters, who will take care of the hard work for you. In most cases, even bad or poorly organized companies will remove unwanted inquiries to avoid conflict, which will allow you to beginimproving creditimmediately, but only as long as you’re willing to go the distance when it comes to the follow-up.   ...read more

You need to use credit to get credit, but when does credit use become more indicative offinancial problemsthan future financial success? Here are 5 signs that your credit usage is out of control.   1. You're charging because you're short on cash   If you have a mile-long list of credit cardinquiryon your credit report or you are always using your credit card because you want something right away, you might live high off the hog for a few months, but when you max out your cards you will be stuck with yourfinancial problems.   Credit is about convenience, but only if you can pay off your balance without stretching.   2. You're charging because you have no savings   Emergency funds are crucial to financial success, and there is a limit to how many times you can rely on a credit cardinquiryto result in a brand new, empty credit card. By relying on your ability to get credit as your “safety net” you are guaranteeing that sooner or later, you will havefinancial problems.   3. You always apply for new cards when you can   If you have a credit card for every store you visit, you have too many. Each time you apply for a new card, a newinquirywill appear on your bureau and eachinquirywill lower yourcredit score.   4. You pay off credit with credit whenever you can   Although balance transfers (i.e. placing the balance from one card and on another card with a lower interest rate) can save you money in the long-run, that only works if you have the means to pay it off.   If you are going through credit cardinquiryafter credit cardinquiryto get approved for a transfer, stop.   5. You’re refinancing because you can’t pay up   Although refinancing can help in the event of short-term financial stress (like a job loss) each instance will result in a newinquiryon your bureau lowering yourcredit scoreand costing you hundreds of dollars in interest over the length of your now-extended contract. ...read more

Most people know that when applying for an apartment or job they may go through a credit check, but did you know that it is not legal to processsoft inquiriesin all states? In some cases,soft inquiriesperformed by employers are actual illegal, and despite only 13% of hiring managers admitting to performingsoft inquiriesfor employment purposes in 2012, that is still a significant number.      However, in 2014, 39 newly introduced bills in 19 states resulted in 11 states preventingsoft inquiriesby introducing new employer restrictions.   Employer credit checks encourage economic discrimination   The push to restrict third-party credit access when it comes to employment and residential services isn’t new, and that is because in most cases persons with good credit have steady cash flow, meaning that individuals withfinancial problemsare effectively being ‘punished’ for having bad credit caused by low income, and are being denied the option ofimproving creditor circumstance.   In other words, if employers can discriminate against potential employees based solely on the fact that they may have had bad credit in the past, they can be prevented from everimproving credit.   What does it mean to live in a no-credit state?   Althoughsoft inquiriesare still permitted for law enforcement officers and in select financial sectors, all other employers in restricted states will face penalization if they perform unlawfulsoft inquiries.   Currently, states which no longer permitsoft inquiriesfor employment are: California, Colorado, Connecticut, Delaware, Hawaii, Illinois, Maryland, Nevada, Oregon, Vermont and Washington.   This means that employees in these states (regardless of if they do or do not have existingfinancial problems) do not have to consent to a credit check, and if they are asked during their application process to sign a consent form, they are actually being asked to waive their legal rights.   Do employment checks stay on yourcredit score?   Unlikehard inquiriesthat you would remove with the help ofInquiry Busters, soft inquiries won't stay on record - but, that doesn't mean you should consent to a credit check you don’t want.   ...read more

It might seem like everything these days requires a credit check - a new cell phone, a cable account, an apartment, a new job. In fact, for many Americans, it might seem like even the phrase "credit check" should come with a stack of legal paperwork, but what exactly happens when a business checkscredit scoreand leaves behind acredit inquiry?   1. You immediately pass or fail   The first thing that happens when acredit inquirytakes place is that yourcredit scoreis revealed, and most lenders have a system to generate an automatic pass or fail based on their owncredit inquiryrequirements. Not all companies require a perfect score, so even if yourcredit scoreis low, you might still pass if it’s higher than this number.   2. You pass, and your file is reviewed   Maybe you have okay credit, but what does the rest of your file say about you and any potentialfinancial problemsyou might have? Maybe your car is six payments behind, or your credit card is maxed out. Because credit bureau updates aren't instant, you can have a good credit score but a terrible credit profile which (during acredit inquiry)will tell your lender that ongoingfinancial problemsare going to turn your good score sour.   Remember, what your lender is mainly looking at during acredit inquiryis if you do or don’t have large debts or the potential to have large debts (i.e. 3 brand new credit cards with no spending history) as each of these credit surprises can spell problems later on.   3. You pass the review, and your DTI gets checked   During yourcredit inquiry, a responsible lender will add up the minimum payments on all of your debts including co-signed debts and divide it by your income to get your debt-to-income ratio (DTI). The higher the DTI, the more risk you are, because even if you make $5000 per month, if you owe $4900 you don’t have a lot of wiggle room.   Remember, most of the timecredit inquirystill relies on the human element, and in order to rule out clients withfinancial problems,businesses are reviewing you by hand which is why is pays to keep up with your payments and remove unwanted inquiries with the help ofInquiry Busters. ...read more