How Do I Get Charge Offs Removed From My Credit Report

April 27th, 2015 by admin

Wondering how to remove charge offs from your credit report? If this sounds like you, then you have probably had trouble with your finances not too long ago. You have probably had difficulty making full payments for many months. And today, you may even have several collection agencies pestering you by mail and telephone. Does this sound about right?

Well, don’t worry. Even though you may have been a bit undisciplined with your finances in the past, you can improve your credit, remove charge offs from your report, and yes … get a second chance you want at a good credit score. In this article, we will take a close look at what a charge off is and show you two proven ways you can have them removed from your credit report altogether…

What Exactly Is A Charge Off?

A charge off is one of the more detrimental negative credit listings you can have on your credit report. Charge offs are losses claimed by your creditor after approximately 180 days of unsuccessful attempts at receiving full payment from you. Late payments of 30,60, or 90 days are common, but, after 6 months without a payment, your creditor will most likely count your account as a loss, turn it over to a collection agency, and place a ‘charge off’ entry on your credit report.

Removing these charge offs should be a priority to you, as potential lenders make it a point to look for these negative indicators on your report specifically.

So, How Can I Eliminate These Charge Offs?

First of all, you need to find the date that the charge off was reported in your credit report and take note of the last activity on the account. If it’s an older record between 7-15 years past, then chances are the statute of limitations has expired on collecting that debt. To determine the expiration date, you’ll need to do a little investigating in the Fair Credit Reporting Act. For example, a credit card charge off may stay on your record for 7 years, while a bankruptcy can remain for 10 years. What that means is, writing a simple letter to the credit bureaus and notifying them of the expiration date may be enough to get the charge off erased from your records.

You will need to take a few extra steps though if your charge off happens to be more recent. Talk with your original creditor and make an offer. Basically, you’ll want to make an offer of payment to your creditor in return for their removal of the charge off they placed in your records, often referred to as a ‘pay for delete.’

But there’s no sugar coating this, it won’t be easy. Many creditors, like credit card companies for example are obligated to report negative information to the credit agencies. Therefore, they may not be willing to remove your charge off completely and instead, change your account status to ‘closed.’ That’s more favorable than a ‘charge off paid’ indicator, but still not an entire removal. So, the choice soon becomes to either reject their counter-offer or to make the compromise. The decision is yours.

You should take into consideration the importance your credit rating is going to have on qualifying for a better job or a good loan in the near future before you decide though. Just make absolutely sure you get your pay-to-delete agreement in writing before you make payment and check your credit file for the alteration after the creditor accepts your terms. Be certain they change or remove it from your report.

So, Where Do I Start?

Two things you will want to do first is to read and learn the Fair Credit Reporting Act and the Fair Debt Collection Practices Act first before jumping into disputing your credit report entries. Get a good understanding of your rights as a U.S. citizen and how you can use them to your benefit. Next, you should realize that every state has it’s own laws concerning debt. You want to find your state’s precise statute of limitations on debt collection.

Make sure you keep yourself well informed on credit repair in general, as federal laws change quite frequently. And finally, realize that removing a charge off is only one small step in the entire process of repairing and maintaining your credit. You also need good repayment strategies, a disciplined monthly credit limit usage, and an aggressive credit building goal to really improve your scores.

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Tips on How to Remove Bankruptcy From your Credit Report

April 24th, 2015 by admin

If you have recently gone through a Bankruptcy, then you know how devastating it can be for you and your credit score. A lot of lenders will look at your credit score and see that you have a Bankruptcy and decide that you are not credit worthy and will not give you a loan. It is important to get the correct information so you can find out how to remove negative items like a Bankruptcy from your credit report.

Find Free: Bankruptcy Help Now

You will hear that it is impossible to remove from your credit report a Bankruptcy, but really you can dispute any negative items that appear on your report. The burden of proof is on the credit agency to verify that the information is correct and accurate. The Fair Credit Reporting Act makes them find out if the negative mark is accurate or they must delete it.

You Can: Eliminate Debt Today

It is important to remember that filing a Bankruptcy is intended to give you a fresh start but it can also cause a lot of problems when it comes to getting a new loan for a car, or a home. You should dispute anything that is not accurate on your credit report because this is the only way you can keep your credit report accurate and up to date. You are responsible for taking your own report in to your hands and making it correct.

A lot of credit card bureaus are not that difficult to work with, but some are more difficult. Remember you have to be patient with them and make sure you do your follow up on information you send them. It can take some time to get everything corrected but it is well worth it in the end.

Bryan Burbank has a great knowledge in the loan business and has become an expert on teaching others about getting out of debt.

Even With a Bad Credit Report You Can Purchase a Home in Parma OH

April 21st, 2015 by admin

Unemployment, illness, divorce, bankruptcy, family problems, failure to pay bills on time– these problems can lead to unfavorable information on your credit report. Just one or two disparaging remarks, without an adequate explanation, can result in a rejection for a home loan.

But there is no need to let a bad credit history stop you from buying a home in [Proflile.market].

Here’s what you can do:

- Clean up your credit report. If you haven’t checked your credit report in the last six months, get a copy to see what the credit bureau has in its files about you. Maybe things aren’t so bad as you think.

If you were turned down for credit in the last 30 days, you can get a free copy of your credit report from the credit bureau listed on the rejection letter.

After you have a copy of your written credit report, if you dispute any incorrect items, be sure to contact the credit bureau in writing. The credit bureau will then report the discrepancy to the erring firm, such as a department store or credit card company, for their version.

If no reply is received within 30 days, the credit bureau must remove the disputed item from your credit report. Be sure to follow up to enforce your legal rights.

- Buy a home with an existing assumable loan. There are thousands of homes for sale with existing, assumable VA and FHA mortgages which can be assumed by anyone (except perhaps a bankrupt arsonist). But if the seller is to be released of liability on the loan, then a complete loan application with credit check is required.

- Buy with seller financing. Although seller financing isn’t as easy to find as it was a few years ago, many home sellers will carry back a first or second mortgage to help finance your home purchase. Rarely will a seller check your credit since the seller looks to the property as the security.

- Obtain an ‘easy qualifier’ loan from an equity lender. Many banks and S%26 Ls offer ‘easy qualifier’ mortgages to home buyers who pay at least a 25 percent down payment. When your down payment equity in the home will be substantial, the lender is well-protected in case you don’t make the mortgage payments. At least one or two lenders in each major city usually offer this type of equity loan.

- Get a co-signer. If you can’t get the seller to help finance your purchase and you aren’t making a 25 percent down payment, a new conventional loan must be obtained. Perhaps a friend or relative will co-sign on the mortgage to help you qualify. Most lenders, however, require the co-signer to also take title to the property.

- Buy with an equity share co-owner. Another alternative is to get a wealthy friend or relative to make all or part of the down payment in return for part ownership of the property. This equity share method is especially good for parents who want to help their adult children get into a first home.

- Keep the seller as a co-owner. When the seller can’t or won’t help finance the sale, keep the seller as a co-owner to help qualify for a new mortgage.

- Pledge additional assets as security. Although your credit may not be the greatest, some flexible lenders will make mortgage loans if they have more than adequate security.

- Get the seller to guarantee part of the loan. If the seller will be receiving considerable cash from the home sale, he may be willing to deposit that money with the bank or S%26L which will make the necessary mortgage if the money is pledged to guarantee part of the loan. For the seller’s protection, he should receive a second mortgage on the home which can be foreclosed if the guarantee is enforced by the lender.

- Lease the home with an option to buy. A lease-option gives the prospective home buyer time to try out the home while, at the same time, clearing up any credit problems. Typical one- or two-year lease-options usually provide for an up-front payment to the seller of a ‘non-refundable consideration for the purchase option’ and a locked-in price for the home.

There is a lot of free information available to you about buying, selling or investing in Parma OH real estate. For complete information about the Parma OH real estate market including current homes for sale, property values and more please visit the most complete website online dedicated to everything Parma OH real estate at ParmaHomeSale.com. So please feel free to contact me with any of your mortgage questions and I will me more than glad to answer you queries. Call me on my cell at 440-342-0269.

Michelle Green is a real estate agent in Parma OH and specializes in residential real estate.

Methods of Dealing with Collections Agencies on Your Credit Report

April 18th, 2015 by admin

Usually the collection bureaus are infamous for using illegal tactics, have poor documentation and are not actually authorized or licence to collect. This makes it easier for you to deal with a collector who is insecure to get your way and walk right in and out. Here are five methods on how to deal with revenue agencies on your credit report-

1. Pay for delete:
In this pay for delete method you have to pay small amounts for small collections ($500 or less), like medical collections or utility bills. In exchange you can ask the collectors to get your listing off the credit list in totality. Get to know the expanded version of this tried and tested method which has proved very fruitful.

2. Settling the Debt:
Settling the debt technique is very much similar then the pay for delete method. The difference lies as this method deals with amounts that are sizeable (over $1,000). This method involves discussion and negotiation for a settlement amount agreeable to both parties. Tough negotiations are to be made to get the collection department to concur to remove the listing from your credit report. Generally, the collection agencies settlement agreement provide you agree to pay in one lump sum.

3. Debt Validation:
It is better to validate your debt by leveraging the protection of the laws laid in the Fair Debt Collection Practices Act. This method involves writing a letter to the revenue agency, and catching the agency off balance. It is real beneficial for you in the long run. If you find the collection agency non responsive you can threaten to take legal recourse by filing a case.

4. Dispute with Credit Bureaus:
If you recognise any negatives incurred on your credit report, you can use protection of section 623 of the Fair Credit Reporting Act which allows consumers to dispute. You can request for an investigation of the account. The creditor or revenue agent must respond within 30 days. The credit bureaus must contact the collection and request proof of the debt owed. If the credit bureaus fail to provide information, they must delete the negative information from your credit report.

5. Dispute with Collection Agencies:
You have the right to write letters to the credit bureaus to dispute the information provided by a collection agency. This is a basic credit repair technique under section 101 which must be completed within a month of receipt of the request. If the representative cannot provide the information within the given time period, the information must be removed from the credit report by law.

National Asset Management world’s Largest Credit Specialists Local/International Debt Collection can locate your past due customers and collect the debt quickly.

How to remove wrong entries from your credit report

April 15th, 2015 by admin

Problem: ‘I checked my credit report yesterday and found a debt by MCYDNSB. Iam not aware of any account I’ve had with them. How can I get this removed from myreport?’
-Hanna Peterson

Solution: Often there have been cases on wrong information being reported on the creditreports. Credit Bureaus are required to publish only accurate information on your report.However, if there is any wrong information on your report, according to the FCRA, itisn’t difficult cleaning it up. You may get an account reported by MCYDNSB removedby following some easy steps.

Here are the 4 easy steps that you may need to follow to clean up your credit report:

1. Obtain report: Get your credit report from all of the 3 major credit bureaus.This you need, to be able to carefully go through your report, to see if there isany other information that has been wrongly reflected and which you need to getremoved. You can either get the free report you are entitled to in a year, or requestthem for a report against a fee they might charge.

2. Find out what to remove: In this case, you already know you need to removethe wrong account reflected as MCYDNSB. However, there might be otherinformation like any duplicate information, old negative information that is pastthe SOL etc.

3. Dispute the debts: Once you have spotted errors in your report, prudently send adispute letter to the credit bureaus. You may also dispute a debt over the phone orby mail, but it would be best to send it in writing and through registered post sothat you have a proof that they have received your request.

4. Waiting period: After you have sent the dispute letter, give the bureaus 30 daystime to investigate. A dispute notation should show up on your report. If thecreditor cannot validate the debt, the bureau must remove it from your report.After the investigation is complete, you may receive a written report from thebureau covering the status of your dispute and an updated copy of your reportwith the resulted change (if any).

Removing wrong information is usually not difficult. However, even after a dispute,if you find no action being taken, you may write to the bureaus and mention whythe account is wrong and that it should be removed. If possible send any supportingdocuments that you may have.

Author Bio: This article is written by Jason Holmes, a community writer of Debt consolidation care. Jason Holmes has been writing on debt settlement, debt consolidation, credit card debt, debt consolidation loans and various other financial aspects.

Ways to Legally Erase Bad Credit Reports

April 12th, 2015 by admin

Many consumers have at least one negative mark on their credit reports. This can be a serious hamper toward getting a job, apartment, credit card, home loan, auto loan, and even a checking or savings account. The good news is that disputing your credit report can be done in a number of ways. There are both do-it-yourself options and choices that require hiring a professional, such as a credit repair company or a private attorney. This guide will give some basic facts on how do exercise any or all of your options when it comes to disputing negative items on your personal credit report. I strongly recommend everyone to read this article closely. By following this simple steps you might save more than your financial status.

The quickest free way to dispute an item on your credit report is by directly contacting the credit bureau, which is normally Equifax, Experian, or TransUnion. Credit reporting agencies offer three major ways for consumers to try to correct information they see as inaccurate. You can either call the number on your credit report and file a dispute over the phone or dispute the information online. A third option is to write a certified letter to the agency, explaining that you feel certain information is wrong and asking them to remove it. This is possible. To protect your consumer rights, it is usually best to dispute any information online or through the mail. This provides you with a record in case the credit agency does not investigate your claim in a timely manner. In this cases be sure to archive all receipts that might document that you have sent the letters and keep them safe. They might get useful in the future dialogue with the credit card bureau, bank, vendor or in the court of law.

Alternatively, you can also hire an attorney you know, or find one in your community, to write letters to the credit bureaus. This can be an expensive but worthwhile option, as credit bureaus are like any other business in that they do not wish to be sued. Simply receiving a letter from an attorney shows them you mean business when it comes to having a correct credit report. However, realize that if the item is technically correct some attorneys are unwilling to write the letters.

There are also many credit repair companies that send letters for a monthly or one-time fee, but these require careful research. Some of them do no more than spam the credit bureaus, which could cause you headaches in the future. Others do nothing more than what you could do for yourself.

Before hiring any credit repair company, be sure to check their name on Google to see if there are a number of complaints about their services. In addition, run their name through the Better Business Bureau to find out more about their reputation.

Also check your social network and be sure that the companies you are getting involved in are having a good reputation and no or little complains.

Brunotan has a wide experience within finance and economy. His hobbies are running on his tredem%26oslash;lle, relaxing in his massasjestol and evaluating forbruksl%26aring;n.

Remove Nco Financial From Your Credit Report

April 9th, 2015 by admin

NCO Financial is a collection agency. They work with financial services, healthcare, utilities, education and more.

They have been in business since 1926. They do both first party and third party collections.

They are located in 9 different countries with over 140 operation centers. They are headquartered in Horsham, Pennsylvania.

They claim to be customer oriented and committed to integrity, teamwork and quality.

NCO Financial is able to use credit reporting. This means they can make a negative listing on your credit report which will cause your credit score to go down.

You can have a listing from NCO Financial removed. There are two ways of accomplishing this.

1. Directly dispute the listing with the credit bureaus.

This is accomplished by sending a credit dispute letter to the credit bureaus or you can hire a credit repair firm to dispute the listing for you.

If you do this yourself you must send a dispute letter to each credit bureau disputing the validity of the negative listing. Common reasons for a dispute are: the account has been paid, not your account, the listing is inaccurate and etcetera.

2. You can pay NCO Financial. I would recommend disputing the listing first and then if that is unsuccessful consider paying.

Do not settle for the full amount of the outstanding debt. You can negotiate the amount to settle. I recommend starting at 50% of the balance.

You should have NCO Financial agree in writing to remove the negative listing on your credit report as part of the settlement agreement. If you do not do this paying the debt will not help your credit score. The listing will remain it will just be changed to a paid collection.

You should also be aware that NCO Financial may not be the only company reporting a negative listing on your credit report for this account. The creditor may also have reported this account as a negative listing too.

It is common for collection agencies to sell accounts that they are unsuccessful collecting on. Thus NCO may have sold your account to another collection agency that has created a negative listing on your credit report too.

If you have the same account reported more than once on your credit report then I would suggest consulting with a professional credit repair firm because making payment to one company will not remove all the negative listings from your credit report.

However if the debt is legitimate and you decide to make payment do not pay the full amount. Collection agencies buy your account for pennies on the dollar. Thus you are giving them a huge profit if you pay 100% of the balance.

You should know that NCO will only be able to remove the listing that they made for the account. They will not be able to remove any listings created by other companies even if settle the account with NCO.

I would recommend having all communications with NCO in writing. This way if there is a breach of the settlement agreement you have written documentation.

In sum, you should first dispute the listing. If unsuccessful come to a settlement agreement with NCO Financial and have them agree in writing to remove the negative listing in exchange for payment.

For a free credit consultation call 1-866-246-7311.

To learn more about how to remove NCO Financial from your credit report or for information about how to proceed with an experian dispute or for free credit repair letters visit us.

How To Maintain A Good Record Of Your Credit Report

March 9th, 2015 by admin

In this article I will tell you about the different aspect of this report and how to maintain it. When you fill an application for a credit card or a loan, the form is given to the different bureaus for the purpose of verification. If it is found that all the information that you have furnished is fully correct, then they will give a positive signal. After that the lenders will see, whether you are capable of repaying the debt and only then your credit card or loan will be sanctioned.

A file will be created, in the name of credit report that will have your personal information along with the details of the repayment. If it is seen that you are paying your monthly bills and dues properly and within time, then it will be good for you and it will have a positive impact. On the other hand if you fail to pay regularly, then it will leave a bad mark on the history of the file and that would not be good for you. All these information that are there in the file are used by the money lenders or banks to see whether you are a good or a bad risk. The file doesn’t state whether you are good or bad, but the data and the numbers will help them to decide, whether or not to give you a loan or not. Thus you should always pay your bills on time, so you can think that ‘my credit history’ is quite good.

Along with the past history of taking loans and paying bills, the file also contains other things like personal information, public records, dispute statements etc. Personal data requires your name, contact numbers, address, date of birth, name of spouse etc. but it does not store information about your race, religion, income and health. If you maintain a good record of paying your dues, then you will enjoy facilities like low interest rates, while by missing the payments dates, you will find it harder to get loans or you may have to pay a higher interest rate.

It is also very important that you check the report from time to time. This is necessary, because your history will be seen by the lenders before they give you any money and also to see if there is any mistake or case of fraud. Sometimes the personal information is used by dishonest people to take loan in your name.

You need to see that this has not happened with you or you may need to pay it. For all these reasons, I would say, if I were you then I would maintain my credit history and enjoy its benefits.

Essential Facts That One Should Know About His Credit Report

March 6th, 2015 by admin

When a person wants to take a loan or needs to have a credit card, then the most important document is his credit report. The file contains all the information regarding the number of loans the person has taken, amount he has repaid, whether he pays the bills on time or not and all other things. For this reason, this report becomes very handy and one should make timely repayments and look after his report so that he doesn’t face any problem while taking a loan.

The first thing that a bank or a credit card company does before giving money is scrutinising the credit report. The document shows the amount of money the person has loaned and whether he is repaying them properly or not. If it is seen that the person has a big amount of money as debt or is defaulting in making payments then it would not be easy for him to get loans or he would have to pay a higher interest rate for it. The banks or the credit companies take the decision of giving loan basing on the value of the credit score.

The score is a number based on all the information that is there in the file and it helps the lenders to take the correct decision. Along with information regarding loans and repayment options, there are also personal details that are there in the report. This includes name, address, telephone number, date of birth, present employer etc. However things that are not included are information relating to health, race, religion, income, bank balance and other things. The document also contains statements about a person’s tax liens, bankruptcy statements and court judgements. However, if you are sure that my credit history is quite good, then you should get the loan without any hassle.

The report can be accessed by the person and also by the banks, and lenders from which he has taken money. It can also be viewed by any person or company that has permission to see the file. A person can view his report by both offline and online methods. In the offline method, the person will get a copy of the document once every year and if he requires it more often, then he needs to pay an additional amount for it. However, if an individual wants to access the information by online methods, he can do it many times by paying a certain amount each year. Many a time it happens by mistake, that there are some inaccuracies in the statement. The federal law allows the person to correct those disputes.

The negative aspects are deleted from the document after a period of time and then any individual while taking a loan can say my credit history is very credible.

Dispute Credit History Report Free

March 3rd, 2015 by admin
No. You may borrow both no more than you need and as little as possible. Credit scores consider the amount you owe as well as the credit available to you. Hitting credit card limits is a black mark and will lower credit scores.

I was able to obtain a tri-merge credit score report and found my aggregate scores were 604, 576, and 606. A tri-merge refers to a single credit rating report that contains info , including scores, from the three major credit reporting bureaus; namely, experian (formerly trw), equifax, and transunion. Each has an uncommon formula for scoring your credit. numerous mortgage companies will use a tri-merge report to determine if your creditworthiness deserves an approval. Depending on the home mortgage office , they will consider one of your three scores and go from there. In my case, the debt officer advised that I needed to get one of the numbers up to at least 620.

As recent as some years back, the term Credit Score was not very commonly used in our society. While there were who understood the term and its purpose, the mass majority, although realizing that there was a system out there that their credit, they did not have a term to stick to it.

Poor credit tenant loans are the loans that are offered without any collateral. These loans are benediction for all the tenants have poor credit rating . Apart from credit repairing, one should use these loans for fulfilling other desires.

I was able to obtain a tri-merge credit score report and found my aggregate scores were 604, 576, and 606. A tri-merge refers to a single credit scoring report that contains info , including scores, from the three major credit reporting bureaus; namely, experian (formerly trw), equifax, and transunion. Each has an unique formula for scoring your credit. many mortgage loan companies will use a tri-merge report to determine if your creditworthiness deserves an approval. Depending on the mortgage office , they will consider one of your three scores and go from there. In my case, the debt officer advised that I essential to get one of the numbers up to at least 620.

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