Credit Repair For Free!

If you didn’t already know, there are five main factors that determine a Fico score.

They include:

- Payment history – Amounts owed – Length of credit history – New credit – Types of credit

Now that we know what’s in a Fico score, let’s find out more about “what’s NOT in a Fico score.”

Your race, ethnicity, national origin, sex, and martial status do not affect your credit score, per the Consumer Credit Protection Act.

Your age is also not a determinant of a Fico score, though other types of credit scores may use it.

Your salary, occupation, title, and employer are included in your credit report, but do not affect your actual Fico score.

However, banks and lenders may use this information against you as part of their own underwriting decisioning.

Additionally, a Fico score does not take into account where you live, the interest rate being charged on your accounts, or any items reported as child/family support.

Rental history doesn’t affect Fico scores either, but now affects VantageScore.

Finally, certain types of credit inquiries don’t count against you, such as those initiated by you and those initiated by employers and insurance companies (will a credit check lower my score?)

And as a rule of thumb, if it’s not on your credit report, Fico doesn’t use it.

It will look like you’re attempting to obtain credit and as a result, could lower your credit score.

Get all 3 credit scores instantly for free for 30 days without worrying about a credit score ding.

Tags: Fico Score, Score

Debt consolidation is one of the most advantageous aspects of debt relief process, which allows you to summarize all your credit cards debts and unpaid loans into one loan at low interest rates. People need to pay their debts for many reasons, and there aren’t two individuals having the same story with the same problems to work through. But the debt settlement can ease many difficulties that people have when they are submerged on their credit card debt. There are many benefits of credit card consolidation process.

Firstly, you’ll be able to trace where and when your payments are due, because you work with one creditor and pay one bill each month. This may solve much of the hassle for some borrowers who have difficulty repaying their debt because of the simple disruption. You will not be harassed by calls from many creditors. Instead, you’ll be faced with a reliable company.

Secondly, because the loan that you repay is a new loan, you will often have a longer period of time to repay it off. Read full article…

Tags: Credit Card Consolidation, Debt Relief

Bankruptcy exemptions in Virginia will get a little better effective July 1, 2011.

HB 1422, sponsored by Del Dave Albo (R-Springfield) increased the exemption for motor vehicles from $2,000 to $6,000.  It also exempts one family firearm valued up to $3,000.

Bankruptcy exemptions are important because the bankruptcy trustee is supposed to take and sell your non-exempt assets and use the money to pay creditors.   The last major revision of this law had been in 1992, and 20 years of inflation had taken a toll on what people are allowed to keep.

The purpose of exemptions is to allow people (who maybe losing their home to foreclosure), to keep enough to be able to start over.  A $6,000 motor vehicle exemption will about cover a seven year old Chevy Malibu–a reasonable car for someone to get to work or the grocery store and feel safe with the kids.

Virginia has a “homestead exemption” of $5,000.  That  goes back in V

Read full article…

Tags: Bankruptcy Exemptions, July

Bad credit score loans is quiet popular in United Kingdom because most of the people are suffering with this problem in UK. It is also known as bad credit loans, loans for bad credit and loans for people with bad credit history. This loan option has been designed especially for those people who got CCJs, arrears, defaults, bankruptcy, IVA and late payments due to unavoidable circumstanced of past. Generally, people apply for this finance when some unexpected expenses knock their door, like home improvements, debt consolidation, car purchase, medical bill, travel expenses, business, education etc.

Bad credit score loan is available in two categories, like secured loans and unsecured loans.

Secured loan – It is a best financial service for homeowners because they get big amount at low interest rate and APR. However, they have to take the risk of their property. B

Read full article…

Tags: Credit, Credit Score, Credit Score Loan, Score Loan

It doesn’t interest me what you do for a living. I want to know what you ache for?

Will you dare to dream of meeting your heart’s longing?

That is what matters the most!

Tags: Matters