Rebuilding Credit PostBankruptcy is Made Easier By Credit Monitoring Services Hereamp#039s How It Works

May 17th, 2011 by admin

If you are bankrupt and rebuilding credit, it will be helpful to monitor your progress as you add more positive information to your credit report. And one way to monitor your progress is by using a credit monitoring service.

When you declared bankrupt, you know how hard it is to raise your credit score again. At this point you know that you should take extra care and precaution in keeping your credit score safe from, or else you might become the next victim of identity theft. Bankrupt or not, you don’t want it to happen. But now that you are bankrupt, nothing will undermine your efforts in rebuilding your credit faster than having your identity stolen.

While you can do the monitoring yourself, using a credit monitoring service can be advantageous in helping you recover from bankruptcy and rebuild your credit.
Here are the following reasons.

1. Credit monitoring services usually monitor any inquiry made on your credit report and why. This helps you detect if there are any unauthorized activities being done under your name.

2. Credit monitoring services also monitor if there are any new accounts being opened in your name. One of the ways identity thieves use your information and leave you with debt is by getting a hold of your name, address and Social Security Number for them to open new accounts using your name, run up charges in that account and leave you with more debt. This delinquency will be reported on your credit report, which will hurt your credit score more. But by monitoring closely your credit file, you can protect yourself from the further damages of ID theft if you know once when someone has opened a new account in your name.

3. Credit monitoring services monitor if your mailing address on your credit card account has been changed. Identity thieves can change your mailing address, and have your statement sent to the new address so they can get more of your financial information like your credit card numbers, and run up charges on your account. And because those statements are sent to the new address, it will take long before you become aware of it. Through a credit monitoring service, you will monitor of there were changes to your mailing address.

4. Credit monitoring services monitor if there has been an increase on your credit card limit. Identity thieves can also request for an increase on your credit card and run up charges on your account. This can in turn leave you with large debt and a worse credit score if you cannot pay it on time.

5. Credit monitoring services are very convenient because you are just a mouse click away from accessing your credit report, instead of monitoring your progress yourself. This makes it a time saver as well, especially if you choose to have their email alerts delivered to your inbox on a daily basis whenever a change happens to your credit report. This will make it easier for you to see if there are any inaccurate information being added so you can correct them as soon as possible, which can help improve your credit score.

So you see, using a credit monitoring service offer many benefits to you if you are bankrupt and are rebuilding your credit. Just study what they offer and choose one that suits your needs best.

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I have bad credit does any one know of any department stores that will give you a card to help rebuild?

I have bad credit does any one know of any department stores that will give you a card to help rebuild your credit. Like walmart target ect.

Answer
try orchard. dillards and macy’s are good store cards to start with. they both give good discounts and rewards for card holders and they give small credit lines for people with bad credit.

4 PostBankruptcy Credit Fix

March 9th, 2011 by admin

A bad credit history is a sure way to paralyze one’ s borrowing privileges. The effects of
having bad credit have long been established and well-known amongst the masses but sad
to say there are times when one is left with no choice but to succumb to it as unforeseen
circumstances in relation to money may come every now and then forcing them to use the
money intended to pay bills, credits and mortgages on other matters that require urgent
payment. If things like this happen one could only hope to get the best help that they can
get. One could only hope that the credit fix that they pick is the best method that can help
them get out of bad credit’ s strong grip.

The good news is that credit scores do not stay still. You may have a very low credit
score as of now but you can do things which can make it soar up high in the next 6
months. Effective credit fix after declaring bankruptcy is just like Rome. It can’ t be
built over night. But if you come to truly think of it, the effort and wait are worth it as its
effects weigh more than the sacrifice.

1. Fix your bad credit by getting rid of errors in your credit report. If you are on a credit
fix spree, you need to keep your eyes open. Remember that the information given out
by the three Credit Reporting Bureaus are not exactly accurate. Anticipate errors and
exert extra effort in looking for them. The Fair Credit reporting Act gives one or its legal
representative a chance to dispute and correct these inaccuracies that maybe found in
credit reports provided supporting documents are provided.

2. Another credit fix method that you can use after bankruptcy is by reaffirming
credit. Taking into consideration the 2005 Bankruptcy Laws, it is essential to reaffirm
mortgages, car loans and any other types of secured loans. This will prevent occurrence
of resale or repossession as it does not only permit consumers to hold on to their
properties as installment of debt repayment gives perfect opportunity for credit fix.
Bear in mind that lenders report everything to credit reporting agencies every month.
Therefore, punctuality in paying loans, mortgage and other debts can help in increasing
your low score. Starting from scratch is not easy but if you are willing to take the first
step, everything will hopefully follow in the long run.

3. Get your act together. Do some kind of a lifestyle check as it will help you put things
in proper perspective. Learn to differentiate wants from needs. Find out where exactly
to use your credit card for and when to stop. The best credit fix that you can do is to
educate yourself with the things that you can do in order to avoid needing one. Its effects
are not only effective but long term as well.

Louie Pinto is a Credit Repair Expert. He lives in Saint Petersburg, Florida and has been successful in helping a lot of people solve their credit-related problems by formulating a personalized bad credit solution to each and every cleints. You can read more about Louie’s ideas in battling bad credit at http://www.creditrepairtoolbox.com/home

How to fix credit and raise credit score?

I’m trying to fix my credit and raise my credit score what are the steps to do that. I read that if you have any debt on your credit report over 2yrs. do not pay it because it lowers your credit score. Is this true.

Answer
It’s a pretty easy process…. but it takes a long time. You have to be patient. I would consider cutting up most of your credit cards and then adding everything up and decide which one to pay off first. Then when you’re done with that one, say you paid $50/mo, add it to the next one. So if you were pay $50 on the next one, you would now be paying $100/mo.

And you probably heard wrong about not paying credit cards. You should pay them, but if you haven’t paid them and you are close to the statute of limitations for your state then do not pay. When you reach the SoL you legally do not owe that money any more.

Also, as far as your credit score it will take a while to go up. Even though credit companies are suppose to report every month, sometimes they don’t. or they only report the bad, not the good.

And your credit score is a calculated formula, so if after you pay off most of your debt, but still have many cards open & with balances, your credit (FICO) score may still remain high until your debt to income ratio goes down. So, if your income goes up, your credit score can also have the ability to go up.

I agree with the previous poster….. do not pay for someone to give you advice. If anything go to your local CCCS.

Good luck!
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