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TOP 10 BLOGS 2018

CREDIT REPAIR2018 Top 10 Credit Repair Blogs


Thank you to all of our 2018 clients for giving us a fantastic year for Credit Law Center.  From our new facility to the thousands of lives we have made an impact on, we wanted to share what we learned last year in the same order that you liked the most.  So whether it be learning how to handle credit after the death of a loved one, handling collectors, understanding the myths that surround credit, or just understanding the mortgage process - we have you covered with our 2018’s most popular blogs written by our very own award-winning Credit Repair experts.  Be sure to check in with our Live Chat specialists to schedule your free credit repair consultation to see how quick, easy, and affordable credit repair can be with Credit Law Center!


CREDIT REPAIR CONSULTATION


 

  1. The Mortage Process

Our most popular blog of 2018 was this blog that addresses what to do to be “Mortgage Ready”.  Short and simple to the point, but however a few checklists here to make sure the largest purchase of our lives has us ready to take on the big decisions that go along with it.

   2. Debt Negotiation

Don’t worry, debt collectors fear Credit Law Center!  However, knowing your options when a debt collector comes after you.  This debt negotiation will walk you through your options.

   3. Credit Rating Matter?

Here is a very powerful piece of writing that will walk you through not only how important Credit Law Center’s clients are to us, but how credit ratings are different than character ratings.  This is important information to know as to when you are applying for credit, these credit ratings are important and the better you understand the better you can navigate through your next purchase.  Better credit, better life!

   4. After The Death Of A Loved One…

This being the most difficult credit issue to face, however important to know what to do after the death of a loved one.  Knowing what to do to make sure thieves are at bay, debt is reported accurately, and understanding the laws behind it all is what makes this blog one of our most popular sources of learning for our clients.

   5. Harassment From Debt Collectors

Even though you may have debt that you have agreed to pay at one time, but that does not mean the debt collectors get to abuse and ignore the laws that they are required to follow.  So before you hang up or avoid that next collection call, read the information here so you know your rights. Credit Law Center is on your side.


CREDIT REPAIR CONSULTATION


 

   6. Credit Myth On Divorce

Making the decision to end a marriage can profoundly affect lives and credit.  This article will walk you through the myths associated with credit and how the aftermaths divorces leave behind.  

   7. Credit Law Center Is Superior To All Other Credit Repair  Companies.

Yes, you read correctly.  This is probably our boldest claim, yet we have not found any evidence to other credit repair companies that have REAL attorneys that get REAL results, in as soon as 39 days, and with nothing to pay upfront.  Be sure to check out the graph on this blog that compares everything you need to know up front when deciding to sign up for credit repair.

8.  Credit Repair │ The Elephant In The Room

Throughout the years, there have been so many credit repair companies that took advantage of their clients, leaving a bad taste in their mouth the next time a real law firm that uses the law to delete negative items off credit reports.  Not to mention the personal anguish we go through when our credit scores are low and sometimes not everybody like to discuss openly about credit repair. Here is a great article that helps ease the conversation no matter who you want to share with.

9.  Credit Myth On Paying Collections

Our very own Jana Fox puts it perfectly on what happens when you pay a collection.  We all have a responsibility to pay our debt, however, we do what we have to do when things get tough - paying that collection isn't doing what you think it is doing to your credit report.

10.  Credit Myth On “It’s On The Credit Report, It Must Be True”

It is a fact that 80% of all credit reports contain errors.  Here is Jana Fox again setting the record straight on another myth of credit.  Great job Jana!


CREDIT REPAIR CONSULTATION


 

Quick, Affordable, Credit Repair │Reviews and Recommendations

Quick and Affordable Credit Repair That Works

When you are interested in a product where do you normally go for feedback? If you immediately go to the review section of a product or turn to friends for their recommendations you are like most consumers out there!

With the device in your hand that you are probably reading this article on, you can easily search the internet for the “best of the best” of almost anything you may want to purchase.

Over the years, many consumers have tried to go to various companies for credit repair services and advice but have been disappointed by services that over promise and under deliver. Credit Law Center is an attorney based credit repair company built on a solid foundation of trust and commitment to their clients. The reviews from both clients and real estate agents and loan officer’s speak volumes. Not to mention, the company has been open since 2009 repairing credit as opposed to some companies that last in the industry for a few years or less.

Trusted Partners

At Credit Law Center, on average there are 600-700 new clients a month. Over half of these clients are referred over by loan officer’s and real estate agents from 46 different states.  If you were wondering what these referral partners and businesses receive from Credit Law Center in return, the answer is simple. Theses agents, after just a few months in credit repair, receive a client that is ready to purchase a new home or was able to close on a house. Both companies are in constant contact to ensure that the goal of closing on a home is met.

A client in credit repair with Credit Law Center can expect that they will be educated throughout the process on how to continue to raise their scores and learn more on the way credit works, so they can continue to build their scores long after they have left credit repair.

One loan officer, Drexel Swanson with USA Mortgage has been using Credit Law Center to refer his clients for several years. “I have closed 8-10 deals this year that would not have happened if Credit Law Center didn’t get involved, just three this October.” Drexel feels that Credit Law Center works at a reasonable price and goes above and beyond to educate his clients as well.

“One client signed up (less than 30 days before closing) and improved his score and saved $5,000 in closing cost because his scores increased by 55 points. He spent less than $1,000 with Credit Law Center,” Swanson says.

law firm vs credit repair

Credit Law Center’s Promise to Clients

There are many companies that will lock a consumer into a monthly program which means they are already collecting the clients money and have no real reason to improve the credit scores because they are being paid. At Credit Law Center, their promise to their clients is they will not pay unless items are removed. While there is a credit monitoring fee, this is strictly to show and monitor what items are actually falling off the credit report. Clients with Credit Law Center can go in and look at their accounts and see what is being removed. They also receive letters from the creditors and collectors with statements showing if their debts and items on their report are removed, updated or verified.

There are several complaints out there with various credit repair companies that the consumers were unsure of what really was improved on or where their money was actually going. Credit Law Center clients receive their updates and a list of the items that were gone after, and what was removed or not. Communication and expectation is set at the beginning of the consultation so the client is aware of the possibility of items to come off or not and realistic expectations are discussed, Deborah felt she receive great service from start to finish.

“My husband and I are extremely satisfied with both the customer service we have received and the results provided by the Credit Law Center! When we first contacted CLC we were in the process of trying to buy a house and we thought that this would be impossible due to my husbands horrible credit scores. My husband had been making strides on his own to improve his credit, but the process was extremely difficult because of all of his past debts and collections. After the first 45 days we were shocked! A lot of the items that were dragging his score were removed and his credit had improved dramatically! We are so grateful to have found a company that is so dedicated to what they do. They have such a great reputation because of their high success rate and also will not charge you unless they actually get items removed! Sincerely, thank you so much!”

 

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What do the scores mean?

If you are interested in what scores you are seeing when you pull your own credit report, you are looking at consumer or vantage scores. This is the score you have access to online that may show higher than what a lender or bank would pull for you. These are not true FICO score. These scores show higher so that you will start shopping around for products, or continue to spend. Your score may be significantly lower when you apply for a home loan with an actual bank or lending institution. Once you understand this, the frustration or mind game you feel that happens when your scores are so different won’t be so frustrating. So, what do your scores mean for you?

  • Very Good : 740-799
  • Good : 670-739
  • Fair : 580-669
  • Poor : 300-579
What are the fees associated with credit repair?
  •  $65 for collections, charge-offs, and repossessions.
  • Bankruptcies, foreclosures and short sales are $120.
  • Credit Law Center is able to also help in debt negotiation
  • Credit Monitoring

 

Do you have questions about your credit report? If you would like to speak with one of our attorneys or credit advisors  and complete a free consultation please give us a call at 1-800-994-3070 we would be happy to help.

If you are hoping to dispute and work on your credit report on your own, here is a link that provides you with a few ideas on how to go about DIY Credit Repair.

A Note From The Author: The opinions you read here come from our editorial team. Our content is accurate to the best of our knowledge when we initially post it.

Article by Breana Washington

How to Find Out If You Are Affected By Equifax Hack

Have you been affected by the Equifax hack?

On Thursday, Equifax, one of the three major credit reporting agencies announced that hackers had obtained access to company data potentially impacting approximately 143 million U.S. consumers. After the companies recent investigation, Equifax stated that the unauthorized access occurred from mid-May through July 2017. The cybersecurity incident was discovered on July 29, 2017, in which they immediately took measures to stop the intrusion by engaging with a leading independent cybersecurity firm. The company also reported the incident to law enforcement and will continue to work with the authorities until the investigation completes in the coming weeks.

The information accessed includes names, Social Security numbers, birth dates, addresses and in some instances, drivers license numbers. Equifax also stated credit card numbers of approximately 209,000 U.S. consumers, and personal identifying information for 182,000 consumers involved with credit disputes.

How to tell if you been affected by the hack?

Equifax will not be contacting everyone that may have been affected, but the company will be sending out direct mail notices to consumers whose credit card numbers or dispute information were accessed. Richard F. Smith, Chairman and Chief Executive Officer for Equifax, stated: “We also are focused on consumer protection and have developed a comprehensive portfolio of services to support all U.S. consumers, regardless of whether they were impacted by this incident.” The company has established a dedicated website, www.equifaxsecurity2017.com, to help customers determine if the hack potentially affected them. The site will be available as early as Monday, September 11, and will also offer U.S. consumers to sign up for credit file monitoring and identity theft protection, and the offer will last for one year. TrustedId Premier will handle the monitoring and protection and will include 3-Bureau credit monitoring of Equifax, Experian and Transunion; the ability to lock and unlock Equifax credit reports; identity theft insurance; and internet scanning for Social Security numbers. However, the credit monitoring and identity protection may require you to accept TrusteId’s terms and conditions, including it’s “Attribution” Section.

Equifax has also set up a dedicated call center, 1-866-447-7559, to assist customers seven days a week from 7 a.m. – 1 a.m. Eastern time.

 

Protecting your Identity Theft

Identity theft continues to increase each year, in 2016 victims of identity theft were robbed of $16,000.00. An important factor in protecting yourself from identity theft is regularly checking your credit report and monitoring your account statements. As a consumer, you are allowed a free copy of your credit report once a year from all three credit reporting agencies, Equifax, Experian, and Transunion. You can request your free copy of your credit reports online at www.annualcreditreport.com. If you have noticed unauthorized activity on your credit report or accounts, immediately report the activity to your bank or credit card companies, and then contact law enforcement.

For Additional information on how to protect yourself against identity theft, you may access The Federal Trade Commission’s website.

Ballparks On A Budget

Ballparks On A Budget

Salvy

For once, feeling blue is good! (Royal blue that is) and dare I say it, but baseball season is finally here again! If you have looked at the ticket prices at Kauffman Stadium lately you’ll notice they have not gone down. In 2018, the average ticket price for a Cubs game at the highest end of the spectrum is nearly $60 while the KC Royals average about $34 a ticket. If you were hoping to spend a day at the K, you may be looking at a few hundred dollars between parking, tickets, and those fan food favorites. I fully believe that once in a while an experience at the stadium is worth it (wherever you call home) but there are a few other options in Kansas City that may have slid passed you.

Here are a few (alternate ways) to enjoy my favorite pastime, without striking out on all the fun:

Watch the game at one of the local bars

Power and Light, Chicken N Pickle, Westport or your local Johnny’s Tavern are just a few favorite spots of mine to enjoy a good game. With a great patio, some fun outdoor games, and a cold beer you’ll still be able to enjoy time out in the sun with your friends.

Buy tickets in the top section

Chances are, you will end up wandering around the stadium in-between innings and can hang out in the bar out in left or right field. At some point you may ask yourself “Why did I come to this game, and pay for those seats?” It was for the Dippin’ Dots or maybe that is just me! But, if you are adamant about going into the game, purchasing a ticket for $19.99 in the nosebleeds won’t break the bank.

 

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Pack a snack

Unopened plastic water bottles (limited to 1 per person) are acceptable as well as small bags (16×16) of snacks. These can be taken into the stadium with no trouble. For more information on what you are allowed to take into the stadium, check out the Royals website here. Tailgating is another great option to feed your friends and kids before going in and to avoid the high cost of the concession snacks.

 

Catch a T-Bones game

With free parking and fireworks every Saturday, this is a great alternative option for families that are wanting to take their kids out for a fun baseball experience. Select seats are $11 and there is entertainment just about every inning.

What I didn’t talk about is the one way I prefer to catch all of my baseball games-by radio. Although it may be old school (millennial’s cant be old school, or so I’ve heard) there is something fun about relaxing on the patio at home and listening to the announcer describe the scene. If you are a true fan of the game, it’s fun to imagine what the field looks like and the sound of my favorite guy walking through the isles of Kauffman Stadium yelling “Lemony, Lemony, Lemonade!” That is what this time of year is all about.

Whether you choose to enjoy the sights and sounds of Kauffman this year or decide to do something totally different, Kansas City offers many outdoor activities  for families on all budgets!

A note from the Author: The opinions you read here come from our editorial team. Our content is accurate to the best of our knowledge when we initially post it.

Article by Breana Washington

The Ultimate Cheat Sheet on Student Loans

The Ultimate Cheat Sheet on Student Loans

The price for higher education is rising, as is the numbers on student loan debt. What is deemed necessary to be successful in today’s world, is also what is holding many folks back from financial freedom. While many are trying to get ahead in their lives, student debt is following them everywhere and it can be hard to know what the next step is.

According to the Board of Governors of the Federal Reserve system, the average monthly student loan payment is $351 for people between the ages of 20-30. All in all, there are 44.2 million American’s with student loan debt. Can you imagine what happens to those that fall behind on something as serious as a student loan? If you have been in this position, you know how seriously those loans have an impact on your day to day life. Working with over 30,000 clients, we see our fair share of student loans and the impact they have on a consumers credit scores. So what can be done?

Student Loans

I’ve been sent to collections, now what?

If you have been sent into collections understand that the government has a lot of power when it comes to student loans and grants. They can garnish your wages, take social security benefits and charge very high collection fees. There is no limit for a collection of federal student loans. Once you miss your payment, they will immediately contact you and the tactics will worsen the longer it takes you to pay. There are severe consequences if you default so pay close attention to your loans. The government hires private collection agencies to collect and many of those agencies will try to collect in illegal, and unprofessional ways. You have rights! We recommend if you have felt harassed or threatened by these collection agencies, that you contact an attorney with Credit Law Center right away.

Should I rehab or consolidate?

Rehabbing your student loan means you spend 9-10 months making payments so that you can remove the default status. If you successfully rehab your student loans the loan holder will remove your default from the credit report. If you consolidate, that negative history for the old loan will continue to show until it ages off the report. You will have a current on the new consolidate loan so continue to make timely payments moving forward. No matter what, student loans need to be paid on time. Maintaining good credit is vital so continue to check your credit report often using a credit monitoring system.

Remember, it is best to check your credit report often and continue to ensure that your payments are being made on time. Having late payments can dramatically impact your scores! If your scores are suffering and you have fallen behind on student loans or other bills, you’ll want to get in touch with a credit advisor today.

Check us out on our social media platforms. Follow us on Facebook and Instagram for more information and blogs!
A Note From The Author: The opinions you read here come from our editorial team. Our content is accurate to the best of our knowledge when we initially post it.
Article by Breana Washington

The Truth About Inquiries

Credit Reports. The Soft and Hard Pull Inquiry Finally Explained

There Are Two Main Types of Credit Inquiries

Chances are when you have applied for a credit card or a loan, you have heard the term “inquiry.” This inquiry is a credit check to take a look at your credit report, but there is a difference between the two inquiries.

Often times, we hear the same few questions when dealing with clients. Do they impact my score? What is a hard/soft inquiry? Here is the difference:

Soft Inquiry

A soft inquiry can happen when you pull your report on a website such as credit karma, or background check ran by an employer, or applying for utilities. Remember; these are not your true Fico scores. For more info on the difference in scores, view our blog. At the bureaus discretion, a soft inquiry may be recorded on the report. The soft inquiry will not have an impact on the credit score but a hard inquiry will.

Hard inquiry

Lending institutions such as a bank, mortgage lender or credit card issuers will pull a hard inquiry BEFORE they approve you for the credit card, loan or mortgage. This helps these institutions also determine what the interest will be. When your credit cards are paid down (30% or below) and your accounts are in good standing, the chances of you being approved and paying low interest rates is very good.

Hard inquires do mean you lose a few points from your credit score, however most people lose less than five points. These inquires do not have a long term weight on the credit report. You are looking at about a two year window for hard inquiries.

hard-soft-inquiries-credtit-score

If you are curious on how to get a credit score to view your personal report, we can help. You will want to check your scores here.

Do you have inquiries on your credit report?

If there are inquiries on your credit report and you are unsure where they came from, check with a credit repair service such as Credit Law Center-we use the law to help fix your credit in a quick and affordable way! Credit repair companies can help look through the report and address any errors that may have occurred for you to have inaccurate information. We recommend reviewing your credit history often.
Please note that you can only dispute hard pulls executed without your permission. Hard pull inquiries can take up to 2 years to no longer appear on your credit history.

How do I refrain from having too many inquiries?

Every credit card, loan, mortgage application you submit results in a hard inquiry. If you continue to have your report pulled, and those 3-5 points come out every time, you may end up tanking your scores by shopping around. Space your applications out by several months if possible. However, FICO allows 30 days before weighing your inquiries into their algorithms which determine your credit scores. If inquiries occurred within the same period of time, they can be counted as multiple pulls. This is why mortgage companies recommend not having your credit pulled as a hard inquiry due to the possibility of it lowering and in turn qualifying for a higher interest rate and finally potentially unfortunately not buying a home. Nobody wins!

Conclusion

Credit scores have a critical part in our financial outcomes in life. A good credit score is considered to be scores higher than “700”. When applying for credit, take the time to build your scores. Feel free to use our site as a resource, we love answering questions!To get assistance on tracking soft or hard inquiries that could impact your credit scores, inspect credit reports from Transunion, Equifax, and Experian. CLICK HERE to get in touch with a credit analyst for more details.
Check us out on our social media platforms. Follow us on Facebook and Instagram for more information and blogs!
credit errors

A Note From The Author: The opinions you read here come from our editorial team. Our content is accurate to the best of our knowledge when we initially post it.
Article by Breana Washington

5 Myths on Credit and Divorce

5 Myths On Credit and Divorce

Making the decision to end a relationship with a loved one can be one of the toughest calls to make in a person’s life. If you are considering divorce, what is not working is outweighing what is. Whether you are waiting for your spouse to pull the trigger because you can’t yourself. Or, you’re getting your finances in align prior to making the move, there are a few things to know and how the decision will directly impact your credit score.

In this article we address 5 myths about divorce and credit, so you can make the best financial decision for YOU when D-Day comes.

Myth #1: Spouses share a credit score

In the credit world, each person carries their own credit score. Purchases made together still show on each report. If your spouse is negatively reporting due to a late payment and you are an authorized user on that account, your report will also reflect that negative trade line.

Note: There is a major difference between being an authorized user and having a joint account.
Signing divorce papers

Myth #2: Being married or divorced affects my score

Status, age, gender, race, income, or investment does not have any impact on your credit score. Your negative or positive credit history is what makes up a score. Paying bills on time, keeping balances low and your credit utilization.

Myth #3: The legal status of a relationship doesn’t matter

Joint accounts, mortgages and car loans do. Managing those accounts will affect both of your scores whether you are married or divorced.

Myth #4: After my divorce is finalized, my score is no longer impacted by my ex

Unfortunately, your scores can continue to be affected by your previous spouse long after the marriage ends. Co-owner of a credit card that is used by your ex can mean you are still responsible for the debt, married or not. Some states consider all open accounts opened during marriage, a joint account.

Myth #5: One spouse acquires credit card debt he/she is solely responsible

A divorce decree does not cancel previous credit contracts. As such, the decree is only responsible for writing out who is responsible for existing debts. A divorce decree will not automatically remove joint or authorized users from accounts. Read more on divorce decrees here!

If you have previously gone through a divorce and are unsure of what your credit report is reflecting, please pull a report here IDIQ
Contact:  1-800-994-3070

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Article by Breana Washington

Credit Scores That Are Merry And Bright

 

Credit Scores That Are Merry And Bright

Tis the season for gift giving-which means plenty of shopping! This is also the time when the season can cause a huge strain on your credit if you are not careful.

Here are some tips to avoid the credit blues once the new year arrives.

 

Avoid new credit cards

In the check out line and the cashier asks you if you want to open a store card to save money on your purchase, you’ll want to kindly smile and say no thank you. If you are working on your credit currently, opening a retail store card may not be in your best interest. Opening all these retail store cards for a discount on items you are buying for other folks will hurt your own score, you have to think about yourself this season too.

Don’t rack the cards you do have up

Remember, a good rule of thumb is to continue to pay your cards on time, and pay them down as much as possible. During this time, it is very easy to overuse your cards for purchasing the best gifts for your friends and family members. Set a budget prior to going out to shop and remind yourself what is most important. Is it a new cell phone for your teenager or a new home come Spring? You’ll start to put things in perspective when you keep the end goal in mind.

 

Credit Law Center Christmas Shopping

Keep track of your cards

There is no time like the Holiday season for identity and credit theft. As long as you are taking extra precautions at this time of year, you can feel good about making purchases out and about or,  from the comfort of your home. Keep in mind:

  • Online shopping is great! Ensure the URL address or lock symbol on the page is showing that the site is secure
  • Conceal your cards somewhere safe and don’t carry too much cash when you are out shopping
  • Stay vigilant-if possible, tuck your cell phone away when making a trip back to the car so you can be alert the whole time
  • Use secure ATMs at your bank
  • Put those receipts in your wallet or purse and shred them once your bills arrive. Gift receipts are great incase of the need to make an exchange
  • Monitoring your credit is going to be vital at this time. Report any fraudulent activity once the season is over and take action

If you would like to learn more, please contact Credit Law Center and an analyst will be happy to provide you with additional information.
Article by Breana Washington

Contact:  1-800-994-3070

Check out Credit Law Center Reviews:

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How to fix your Credit

The winds come whipping in, the sky turns black and-BOOM-a tornado blew through all of your life plans! Are you feeling as if Oz himself is behind the curtain pulling random numbers from the debris and  tossing them out one by one? After the dust has settled you see a score that makes no sense, but the damage has been done. So what do you do to pick up the pieces?

Credit Law Center Credit Score

If you are looking to fix your scores but continue to find ways that take longer than the time you have available, don’t quit…there is hope for you yet- your yellow brick road is closer than you think!

Although time doesn’t always seem to be on our side, and the credit bureau’s don’t seem to be either, there is still some good news when it comes to fixing your less than perfect report. A healthy credit report will take time to build, but the wait is worth it.

Oz is not going to improve your scores for you and unfortunately you can’t just tap your shiny red shoes together for a quick fix. It is up to you as the consumer to take some action. Here is what you can do to get started:  1. Pull your report and check your scores. You need to view all three (Transunion, Experian and Equifax) 2. Find out what the issues/negative items are on the report. Are the debts yours? 3. Clean negative items off the report 4. Build and establish positive credit/tradelines.

First: Pull your report

You will want to enroll in a credit monitoring service that allows you to see all three bureau’s. A lot of the credit reports consumer’s can pull on their own show you two reports, the third one is just as important as the other two. Remember: scores will vary as they are only a consumer score and will always be different than what a lender or bank will tell you. Check out : vantage scores vs Fico….. Credit monitoring is also great for identity theft monitoring, among other things. Interested in having a three bureau report pulled for just $1? Click here!

Second: What is negative?

Can you imagine that the bureau’s have incorrect information? Actually, 79% of credit reports contain errors. Not only is it important to verify that the debts on your report are yours, but it is just as important that your addresses, name, DOB, etc. are correct as well. “Oz” uses an algorithm that is hard to crack! What we do know is this:  • Payment history makes up 35%  • Credit utilization makes up 30% • Age of credit accounts 15% • Length of life on card 15%
If you play the game right, you’ll start to see your scores on the rise. Keep pushing.

Third: Clean up negative items

Just like the lion, tin man and the scarecrow, you’re going to need someone to help guide you down the path. Recruit well, and do your research! Credit Law Center, attorney based credit repair can assist you in cleaning up your negative items on your report such as:  • Collections/Repossessions • Public Records • Late Pays • Bankruptcies/Foreclosures  • Tax Liens/Judgments
This team not only assists you in removing derogatory items from your report, but coaches through the process on how to build on the positive side of your report as well. An unbelievable team for you to depend on, Credit Law Center is a combination of all of Dorothy’s confidants into one company.
The tin man: a heart that cares about the future of the consumer’s, and what happens next
The scarecrow: a brain full of knowledge about credit and the resources to aid clients
The lion: courage/legal prowess to take action
Ready to get to work on your report? www.creditlawcenter.com

Fourth: Build and establish

You might have been denied credit cards previously, but that are a few other ways around establishing that you don’t know. Secured credit cards are one route you can take. They require a deposit that will serve as your credit limit. Making on time payments and keeping an eye on your utilization is vital. Keep those balances as low as possible. Your limit is $1,000? Keep that card under $300 if possible! A few more things to do to start building:  • Pay balances down as low as possible while holding off on making new purchases • Credit builder loans with a bank can be a good start • DO NOT close old credit card accounts when you have them in good standing, the longer the life on the card, the better • Increase your credit limit so your balances seem to be back down under that 30% utilization (See, this game can be won!)  • Become an authorized user on an account of a TRUSTED family member or friend. Don’t worry, you never have to even see/use their card, you will benefit from their positive history (make sure they pay their bills) Again, the longer the life, the better! Their shiny scores won’t be hurt by your scores, the only one taking a risk is you. Choose wisely!
Now, that the clouds have cleared and the sun is peaking through, you can take on Oz with the right team behind you. We are excited to help you so you too can tap your shoes together and exclaim “There’s no place like home!”

If you would like to learn more, please contact Credit Law Center and an analyst will be happy to provide you with additional information.
Article by Breana Washington

Contact:  1-800-994-3070

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6 Things You Did Not Know That Will Affect Your Good Credit

Having good credit can be a significant accomplishment and allow you larger financial opportunities. However, there are a few unexpected ways that can hurt your good credit.

1.One Late Payment

So you got busy with life and forgot to send in your car payment. Having one 30 days late payment report on your credit report can significantly drop your credit score, and depending on your credit history it could drop it by 100 points.

2.Closing your zero-balance credit card

Paying off your credit card is wonderful, and you may be tempted to close that account. Closing a zero-balance credit card can affect you one of two ways, it reduces your total credit amount, which can raise your credit utilization ratio. It also can shorten the age of your credit history.

3. Co-Signing

Co-signing for a friend or family with less than perfect credit makes you responsible for the debt. When your friend or family member misses a payment, it will report on your credit report. You will take full responsibility for that account if they do not pay.

4.High Credit Balances

You have the right mix of credit, perfect payment history, but you are reaching the credit limits on your credit card. Having high limits can cause your score to drop, it is important to try and keep them at 30% of the available balance. The lower, the better.

5.Applying for additional credit

Every time you apply for new credit or a credit increase the creditor will do a credit check. These credit checks are considered hard inquiries. Be careful when applying for credit or asking for an increase to an existing credit card.

6.Not paying attention to your credit report

Approximately one in five Americans have errors on their credit reports. It is important to check your report at least twice a year to make sure all information is reporting accurate. One reporting error could lead to major problems and possibly lower your scores. By law, Americans are allowed to one free credit report per year from all three credit reporting agencies, Equifax, Experian, and Transunion. You may receive your free reports at annualcreditreport.com.