tag:blogger.com,1999:blog-49784682685146329662024-02-20T15:44:59.321+07:00F1N4NC3Financehttp://www.blogger.com/profile/10855101937275241944noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-4978468268514632966.post-5876567196150793942011-04-17T09:28:00.002+07:002011-04-17T09:28:49.675+07:00How to Calculate a Car Lease Payment<b>How to Calculate a Car Lease Payment</b> - Owning a automobile is the dream of plenty of individuals. Some accomplish their dream while some don't. Leasing a automobile can be a nice option for those who are unable to buy the automobile and don't have money for owning a automobile. When leasing a automobile, it is important to calculate the every month payments yourself. The automobile dealers will calculate the every month payments for you but make sure that the calculations made by the automobile dealerships are correct. Calculating the lease payments is not a complex task. You can use the loan calculator tools for calculating the every month lease amount. There's plenty of online auto loan calculator tools that will help you to calculate the every month lease amount.<br />
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Purchasing the automobile on lease will be more economical though at the completion of the lease you will end-up paying more amount than the original amount of the automobile. The only advantage of buying the automobile on lease is that you don't must pay whole amount at a time; in lieu you can pay the amount in installments. There's number of auto loan providers and the interest charged for such loans vary from lender to lender. In lieu of wasting time in visiting every loan provider and knowing the loan procedure and rate of interest on the auto loan, you can save your time by calculating the loan amount and every month installment on that amount by the use of loan calculator tools. by entering few variables, you can get the desired results instantly.<br />
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When you are thinking of buying a automobile on lease, you ought to calculate the every month installment amount that you will must pay every month. Also, you ought to pick what repayment period would be affordable to you for the done payment of loan. Collect all the information that will be necessary for calculating the lease payment. These details include MSRP of automobile, rate of interest for lease, term of the lease, residual value of lease. This information can be found on the site of the loan provider or the bank financing the lease.<br />
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How to Calculate Automobile Lease Payment?<br />
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Multiply the every month lease payment with the sales tax of the state to get the every month tax payment and add it to the every month lease payment.<br />
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Calculate how much you will use the car's value by multiplying the MSRP with the residual value and subtracting the product from negotiated cost of automobile.<br />
The amount of car's value can be broken down in to every month payments by dividing the amount by number of months of lease. For example, if the lease term continues for 36 months and the car's value is $8000, you can do $8000/36. The every month lease payment will be the resulting answer which is $222.22<br />
The interest amount can be calculated by adding residual value and negotiated cost and multiplying the sum by the funds factor.<br />
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Using the auto loan calculator tools you will save the time necessary for doing calculations. You will must enter the necessary variables in the appropriate columns and the desired result for the every month lease payment amount will be generated within seconds.Financehttp://www.blogger.com/profile/10855101937275241944noreply@blogger.com0tag:blogger.com,1999:blog-4978468268514632966.post-61330059014609179912011-04-17T09:26:00.002+07:002011-04-17T09:26:56.843+07:00Working Capital Loans<b>Working Capital Loans</b> - This type of loan is a very special kind of a loan idea in which companies keep working till they reach a juncture when the revenue earned starts covering up the costs invested in walking or conducting the business. Working capitals loans are short term loans which can cover every day costs of the enterprise. For meeting immediate costs or investing in any kind of business oriented activities like promotions, debt clearance & the like, a working capital loan appears to be the best choice. These are sanctioned faster than typical commercial loans & permit more time for businesses to attain profits.<br />
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The lenders sanction these loans on the ground of expectations about the capacity of a company to pay back the loan amount in the near future. A new venture lots of receive this loan on the basis of the credit scores of the investors or the owners of the business. The values of the company assets or its anticipated revenue growth are the factors weighed by banks or other authorities in order to sanction a principle loan to an existing company. Repaying a it adds to the credit score of the company.<br />
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Working capital loans are the best source of money for meeting expenses of the business. Even enterprises which have their money resources restricted can avail such loans, as there is a substantial time for repaying it. Poor credit scores do not come in to the way of a this loan for existing companies. Lots of businesses have recovered well with the aid of a working capital loan. It is of the best options for tiny businesses. On the other hand, however, the disadvantage is that it is relevant for a short time period & is not slot in the case of long term designs.<br />
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There's several types of working capital loans which need to be discussed in brief before proceeding further. The first type is the equity based working this type of loan. This type of loan may be raised from properties having equity value like the house. The loan can be taken from known people like friends & relatives, & can be repaid after the business achieves the point of net profit. A trade creditor can also provide a principle loan which can enable a business owner to buy a piece of their business place. A line of credit working loan is a nice option. These also improve the credit score.<br />
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Using a working capital loan is a wonderful idea in recent times. It aids in expansion of the venture & contributes to the strength of the business & enhances it stability . Though a long term business loan is important for a business, a working capital loan comes in as handy for meeting periodic needs. They also come in unsecured versions, which permit salvaging of businesses in absence of collateral security as well. Therefore, the importance of a working capital loan is to be undermined in no way. It is highly useful & can change the picture of a business permanently, in a positive manner.Financehttp://www.blogger.com/profile/10855101937275241944noreply@blogger.com1tag:blogger.com,1999:blog-4978468268514632966.post-80954803817282768192011-04-15T07:12:00.001+07:002011-04-15T07:12:00.158+07:00IVA Vs BankruptcyBankruptcy<br />
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You don't know how you have got here, but yet here you are. Somehow, you have managed to accrue some personal debt & you are not sure exactly how to go about dealing with it. This issue is more common than you might think, & you definitely are not alone in facing such a situation. of the most prominent options when faced with these circumstances are to declare ones self bankrupt, or to take up an Individual Voluntary Arrangement (IVA).<br />
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Perhaps the main advantage of bankruptcy is the length of the arrangement. Bankruptcy will usually last only a year, whereas IVAs can last several years. Bankruptcy will also make sure that 100% of the debt is lifted, whereas an IVA normally leads to only 75% of the debt being written off.<br />
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Bankruptcy is such a scary term, but the reality can actually be different. Bankruptcy is an instant procedure - you need to file a petition at your local county court for bankruptcy, after which your file is placed in the hands of an Official Receiver or an Individual Trustee in bankruptcy - in other words a licensed insolvency practitioner. The trustee will take control of all of your assets & so this is often the best choice for those who don't have plenty of! They will also freeze your bank accounts & it is fundamentally the debtor's responsibility to secure as much from your personal estate to benefit the creditors.<br />
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Your bankruptcy will however be featured in your local paper, so that someone that you owe money to, can see that you have been declared bankrupt.<br />
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Individual Voluntary Arrangement (IVA)<br />
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IVAs by their nature are individual & the terms may vary. Normally they run for 60months (five years) at the finish of which all of your unsecured debts are written off. Sometimes they are shorter than this, & the structure of the payments can vary . The norm is for a single every month payment to the supervisor of the IVA, who then distributes this equally between creditors.<br />
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Individual Voluntary Arrangements do not have the same negative connotations that bankruptcy does, & unlike bankruptcy you won't appear in the local press. You will also maintain full control over your own assets & your credit standing won't suffer to the same extent.<br />
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The normal procedure is for an arrangement whereby the interest on debt is frozen & up to 75% of the debt is written off. This is dependent on your being able to show that you have a steady income.Financehttp://www.blogger.com/profile/10855101937275241944noreply@blogger.com0tag:blogger.com,1999:blog-4978468268514632966.post-14167411116614862512011-04-15T07:00:00.000+07:002011-04-15T07:00:05.895+07:00How Long Does a Credit Card Company Must Enforce an Unpaid Account & Statute of LimitationsWhat is a Statute of Limitations?<br />
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So you are having trouble making your credit card payments and probably wondering what will happen next? The next few paragraphs will speak about the treatment and removal of unpaid credit card accounts based on the Fair Credit Reporting Act and the statute of limitations under New york Civil Procedure section 337 only. Each state has its own statute of limitations for causes of action like enforcing an unpaid credit card debts.<br />
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When does the Statute of Limitations start?<br />
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The first issue is what is the statute of limitations? The statute of limitations is the length of time that has to file a lawsuit to enforce a claim such as an unpaid debt, a personal injury cause of action or a products liability claim. When you sign up for a credit card, you are entering in to a written contract agreeing to pay back the money you charge to the credit card under varying terms. When payment is not made, the contract is breached. Pursuant to CCP section 337, the statute of limitations for breach of contract in New york is years.<br />
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Usually the statute of limitations begins to run when the reason for action accrues or begins. This is a complicated area of the law and this article will only touch on general information and not a case by case analysis your case may need. When the statute of limitation usually begins is when you breach the contract by not paying, or the reason for action accrues arising from the date of last payment or when demand for full payment is received. In New york, pursuant to CCP Section 337, the statute of limitations for breach of contract resulting from nonpayment is five years. In New york, the statute of limitations can be extended only by a new agreement in writing to agree again to repay the credit card debt. If a credit card company does not file a lawsuit within five years from the date of last payment or when demand for full payment was received, and no new agreement in writing has been executed, the debt is then time-barred and is not legally enforceable. The only way the credit card company can then receive a payment from you is in the event you voluntarily pick to make a payment. Some credit card agreements have an acceleration clause that must be invoked and two times a payment is missed, then the statute of limitations begins to accrue.<br />
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What Happens if a Credit Card Company Does Not File Suit Within the Statute of Limitations and the Debt is Time-Barred?<br />
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There is as well as a statute of limitations regarding credit reports. The statute of limitations for reporting accounts and credit reports is controlled by the Fair Credit Reporting Act (FCRA). If a credit card company in New york does not sue within five years and the debt becomes time-barred, it is still a negative account on a credit document though. Pursuant to the FCRA negative accounts can stay on a credit document for 7 years and positive accounts can stay for ten years. There's some exceptions that are not listed here, so consult a professional in your state for the exceptions. If a credit card company does not sue to enforce the payment of the debt, the next step is to dispute the negative account with all credit bureaus. The credit bureaus, Experian, Equifax and Trans Union are prohibited from continue to list elderly negative accounts on credit reports and must remove inaccurate item in 30 days. To dispute a credit account on a credit document you will require a recent copy of your credit document. There's a considerable number of websites that will provide a free credit document. Then to dispute an item on a credit document, you may write a letter, file a dispute online at the credit bureaus web-site and even by phone. Go to the Federal Trade Commission web-site at: http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre21.shtmFinancehttp://www.blogger.com/profile/10855101937275241944noreply@blogger.com0tag:blogger.com,1999:blog-4978468268514632966.post-45603997983082490622011-04-14T15:01:00.000+07:002011-04-14T15:01:20.372+07:00Legal Credit Repair Vs Illegal Credit Repair And Credit Restoration Mistakes<b>Legal Credit Repair Vs Illegal Credit Repair And Credit Restoration Mistakes</b> - The term "legal credit repair" implies that illegal credit repair has been a controversy in the marketplace for credit restoration...and that insinuation is correct. Credit repair scams may not as blatant as they was, but plenty of consumers still get seduced by the promise to "instantly" improve credit score profiles or to "improve credit reports" overnight.<br />
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<b>Legal Credit Repair</b><br />
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CROA instituted some of the following requirements on these companies:<br />
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Credit Repair organizations are ruled by the Credit Repair Organizations Act of 1996 (CROA). This law was enacted to limit the promotion claims & fraudulent practices of unethical operators who did things like collect money for services they had not purpose of rendering, or making claims of guarantees, & even engaging in illegal practices in the work of what they sold as "credit repair".<br />
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These requirements above are part of the CROA & were specifically intended to help consumers from being susceptible to credit scams. Any credit repair organization or company that violates any of the above may be involved in illegal activity, & you ought to steer clear of them.<br />
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They cannot make false statements or misrepresent their services.<br />
They cannot advise you to generate a brand spanking new identity - false social security numbers, or employer identification number (EIN) to get new credit.<br />
They must offer you a written contract explaining the services to be provided & the cost of the services.<br />
They must offer you seven copies of written notice of your right to cancel the contract for services within seven days.<br />
They must offer you written notice that, by yourself, you can dispute items that are inaccurate, unverifiable, or beyond the legal reporting period.<br />
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<b>Is Credit Repair illegal?</b><br />
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It ought to be obvious by now that the answer is a resounding "No". However, the scale of the necessity for credit restoration services in the consumer marketplace has drawn the attention of all kinds of financial criminals & "fly by night" operators who only require to buy a few business cards, a road sign, or a newspaper classified advertisement to claim they are in the "credit repair" business.<br />
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In addition to requirements listed above, consumers ought to also pay attention to the age elderly rule of thumb regarding things like this:<br />
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If it sounds nice to be true, it probably is.<br />
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In the event you are a consumer in require of a credit repair program, you ought to be cautious of any business making guarantees of restoring your credit, or promises to "remove all negative items", or even "instantly fix your credit". To the best of my knowledge, there is no legal way to "instantly" repair your credit.<br />
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In lieu, an ethical, knowledgeable, & legal credit improvement specialist will usually research your personal myFICO scores & the factors affecting you individually, identify any information that doesn't meet the standard of "accurate, complete, timely, & compliant", & offer you a plan, process & tools for getting the credit agencies to act on your behalf.<br />
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Learning how to recognize dicy credit improvement schemes & outright credit scams is of the most important things you can do as a consumer to protect yourself. In addition to making sure that operators you deal with are compliant with the list of requirements above, stay away from operators who insinuate that they are endorsed by the FTC, or who offer "guarantees" of credit repair, or who recommend "disputing everything negative" on your credit document.<br />
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<b>Credit Repair Scams - What To Do If You Made The Mistake & Fell For These</b><br />
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Keep in mind also that credit repair organizations are barred by law from demanding prepayment for credit restoration services. While there's some variations (in Florida, your payment can be put in to an escrow account to be drawn after the work is done) in how this is done, the work must always be done before a company is paid.Financehttp://www.blogger.com/profile/10855101937275241944noreply@blogger.com0tag:blogger.com,1999:blog-4978468268514632966.post-50155120218510315602011-04-14T14:56:00.000+07:002011-04-14T14:56:49.079+07:00How Am I able to Get A Lower Automobile Payment - QuicklyIf your finances happen to alter, automobile payments can sometimes get so overwhelming that you require to give the automobile back to the bank. This idea may sound nice in the moment, but you require to think about the long-term effect that will have on your credit. In case you give the automobile back you will lose any money you put down, and what you have paid. In case you are upside down on the automobile where you owe over it is worth, the bank will come after you for that amount .<br />
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I need a lower automobile payment. What am I able to do? You do have some options that they will explore in this editorial to help get you some debt relief. Getting a used or used automobile can be an thrilling & amazing venture, however the automobile loan that comes with the automobile, can sometimes turn in to a burden when faced with a financial crisis.<br />
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Your best choice is to try to work towards lowering your every month payment, in lieu of giving the automobile up.<br />
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The following tips can help you get a lower automobile payment.<br />
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of the most common ways to lower your payment is to refinance your automobile through your current lender. You can ask them to lower the interest, which will save you money over the term of the loan & lower your every month payment. In case you have a 48 month loan you can ask to extend it to 60 or 72 months, which would lower your every month payments. (Some lenders offer 84 months on sure vehicles.) However, in case you extend your loan (which is what lenders love to do!) you will finish up paying more for your automobile. This is not always bad in case you know your finances will improve in the future to the point where you can make additional payments. This way you can pay the loan off early.<br />
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If your lender won't work with you to lower your payment you can always shop around for a used loan with a lower rate of interest. Another option is that you can always apply for a personal loan to pay the automobile off. Usually you get a lower rate of interest on a personal loan than what the auto loan rate of interest is.<br />
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In case you don't have any luck with the first options, you can always trade your automobile in for a less pricey. You are much better off driving a used automobile with a lower automobile payment then you are keeping that pricey automobile that is causing you financial hardships & stress.<br />
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This won't reduce your every month payments, but finding a second kind of income can help you make the every month payments simpler. Better to give up your weekends or a few nights in order to improve your financial situation & keep your automobileFinancehttp://www.blogger.com/profile/10855101937275241944noreply@blogger.com0tag:blogger.com,1999:blog-4978468268514632966.post-72986162754211556732011-04-13T22:25:00.000+07:002011-04-13T22:25:02.275+07:00How To Improve Your Overall Credit Score<b>How To Improve Your Overall Credit Score</b> - If you can avoid "settling" a debt, do so. Many creditors will now allow you to make alternative payment arrangements that fit your budget, without doing any damage to your score. The key is to catch the debt before you're thirty days late. The downfall is that some creditors won't even consider helping you until you have gotten behind. Not to worry though, because if you stick to the payment plan, your creditor will report your good payment history and you will wind up boosting your score.<br />
<div id="body"> If you can afford to, you should avoid paying off your vehicle. You can pay extra on the principal of the loan, but don't pay it off all at once. Keep in mind that loans, such as auto and home help to create a strong credit profile, which can boost your score significantly.<br />
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You should also not close your credit card accounts when you pay off the balance. Instead, keep them open and use them every other month or so. Just get a tank of gas or something small and avoid the interest fees by paying it off at the end of the month. You can alternate credit cards to keep your credit in good standing and you'll still have them for emergencies. This takes restraint, but you can do it when you try. Closing accounts can damage your credit score, so keep them open if you can.<br />
Don't initiate any new credit while you're working to get out of debt. It's going to look really good that your overall debt to income ratio is way down. If you have a home loan and an auto loan and are paying on them regularly, this also helps to boost your score, so keep the fingers away from the credit card applications for a while and let your plan to get out of debt do its work.<br />
It can be a big challenge to actually get out of debt and do so while working to save your credit, but when you follow the right steps and work to pay your bills on time, you'll find that you can not only be free of debt, but also have better credit than you ever imagined and that in itself is a big bonus that offers lots of freedom and spending power should you need it.<br />
Credit is no laughing matter. It shouldn't be abused and it shouldn't be ignored, but sometimes, life hits us the wrong way and we find ourselves drowning in debt. You don't need to live like this anymore, and when you know how, you'll find that being debt free is actually not as hard as you thought.<br />
</div>Financehttp://www.blogger.com/profile/10855101937275241944noreply@blogger.com0tag:blogger.com,1999:blog-4978468268514632966.post-21447434684861600812011-04-13T22:22:00.000+07:002011-04-13T22:22:26.870+07:00Top Tips on How to Improve Your Credit Rating<b>Top Tips on How to Improve Your Credit Rating</b> - It can be hard to shake a bad credit rating. Overdue payments on fast loans and other small things like unpaid video rental fees can even make a difference. Here, we've got a list of tips on how to improve yours. For those of you who are looking to improve your credit rating you won't want to miss these tips!<br />
<div id="body"> <ul><li>Be aware- The first step is being aware of your credit history and finding out where you stand. You can do this for free online at a number of websites. Knowing what your credit status is and why it is the way it is, is the most important step to moving forward.<a name='more'></a></li>
<li>Have a thorough look- From this you can see where your credit rating may have dipped. Make a list of anything you think may be incorrect. For instance, a phone company many have listed an overdue payment but you never recall being late with this. Be thorough and go through everything in detail.</li>
<li>Follow up anything you are unsure about- Take the list of what you are unsure about and follow it up. In the example used before about the phone company, call them and find out why they have listed as a discrepancy on your credit file. If it is incorrect then you should be able to dispute it. In that case too, you should request that it be taken off your file as soon as possible.</li>
<li>Learn from your mistakes-Now that you know what can give you bad credit, learn how to be able to avoid this from happening. If you have a tendency to get cash loans and don't pay them back on time resist getting them if you can't afford them. Living within your means is important and knowing your limits in terms of making repayments will not only make your credit status better but it will also reduce your stress levels.</li>
<li>Improving your credit rating fast- This is how it works: Basically you can't get a credit status or change it without using credit, so the key is to use credit as much as possible, but always make sure you can make the repayments. So credit rating is based on the spending versus your repaying. Therefore, the more you use credit, paying it back on time, the better your credit rating will be.</li>
</ul>Credit ratings can be used to show a lender in the future what type of customer you are and if you are able to meet the repayments on a loan they provide you with. This is especially important when you are considering getting a home loan. If you do have bad credit however there are a few things you can do, as listed above to help improve this rating. Speaking to a financial planner may also help you further with this. I hope our list of tips on how to improve your credit rating has given you some useful advice on how to go about improving your credit rating both now and in the future.<br />
</div>Financehttp://www.blogger.com/profile/10855101937275241944noreply@blogger.com0tag:blogger.com,1999:blog-4978468268514632966.post-58069836839231594622011-04-13T22:20:00.000+07:002011-04-13T22:20:43.561+07:0010 Reasons Why You May Need Dispute Errors On Your Credit Report10 Reasons Why You May Need Dispute Errors On Your Credit Report - <strong>Are You Looking to Improve Your Credit Score?</strong><br />
<div id="body"> Then I'm sure you know that lenders use Credit Reports to score your credit-worthiness. Many Lenders rely on Credit Reports which use confusing scientific formulas to see how much of a credit risk a consumer is most likely to be.<br />
You may already know that credit scores are calculated using the information on your credit reports. Errors on your credit reports and credit scores can severely damage your reputation. For this reason, I encourage you to review your reports at least once per year.<br />
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After checking your reports you may need to file a dispute to correct errors. This article has 10 disturbing reasons why you may need to file a credit dispute.<br />
<strong>1. </strong><strong>79% of Credit Reports Contain Errors</strong>.<br />
In 2004, the Public Interest Research Group found that 79% of credit reports have errors. Up to 25% of the errors have been bad enough to prevent borrowers from obtaining credit.<br />
<strong>2. Inaccurate Status of Accounts.</strong><br />
According to a 2004 Federal Reserve Bulletin, 15% of credit reports list 'Stale Accounts' as a 'Major Derogatory' on your credit reports. A Stale Account is one that is out of date. A Major Derogatory is a big negative on a credit report.<br />
<strong>3. Incomplete Information given to the Big Three Credit Bureaus.</strong><br />
The Big Three Credit Agents (Bureaus) are; Equifax, Experian and Trans-Union. Creditors voluntarily report Consumers information to the Big Three Credit Bureaus. Creditors report the following types of Credit details:<br />
<ul><li>The date that the Account was established;</li>
<li>The type of Account (revolving, installment, mortgage etc.);</li>
<li>The highest balance owed;</li>
<li>Credit Limits (where applicable);</li>
<li>Payment Performance Information.</li>
</ul>Beware: some lenders intentionally don't include Credit Account information. Make sure that if you've been making payments on-time (Payment Performance) that those payments are reported (if possible). You may need to file a dispute to correct the record.<br />
<strong>Please make sure that your 'Payment Status' is correct for all accounts?</strong><br />
If you find that positive payment performance is not being reported, feel free to ask the Creditor why. You may have to file a dispute if the information is listed incorrectly. Or you may need to move your account to a lender that reports on-time payments for accounts.<br />
<strong>4. Collection Agencies often Mismanage Collection Accounts. </strong><br />
The General Accounting Office, in a Consumer Credit Study, found that there are "data quality issues" regarding Consumer Files within Collection Agencies. For example, a Collection Account that is Stale can be incorrectly updated and appear to have recent activity on the account.<br />
Mismanaged Accounts may disrupt your chances of getting a new loan, or line of credit; opening a Bank Account, Renting an apartment, or landing a new job.<br />
Check your Credit for any Collection Agency Accounts. You may have to file a Credit Dispute to change the status or remove the account from your Credit Report.<br />
<strong>5. Collection Agencies Duplicate Accounts.</strong><br />
Collection Agencies have been known to duplicate accounts. For example; say Collection Agent "A" attempts to collect on a delinquent account and reports the account (in question) to the Credit Reporting Agencies.<br />
After a few months of failure to collect Collection Agent "A" gives up and sells the account to Collection Agent "B". Collector "B" updates the account on your Credit Report as owned by them.<br />
In the mean-time Collection Agent "A" failed to update their records with the Credit Agencies...<br />
The result is a duplicate derogatory entry on your credit report. Duplicate Reports can severely damage your Credit Score and shrink the chances of securing a Loan.<br />
Check your Credit for Collection Accounts. Double-check for duplicate collection listings. If you find a duplicate record, it would be wise to "Validate" both accounts to determine if any of the duplicate are valid claims against your good name.<br />
<strong>6. Miss-assigned Collection Accounts.</strong><br />
Sometimes after validating a delinquent account you may be shocked to find that Collection Agent "A" has miss-assigned the account to Collector "B". Miss-assignment of Collection Accounts occurs quite often.<br />
You may have to Validate the debt and correct the records of both Collectors "A" and "B".<br />
<strong>7. Major Derogatory.</strong><br />
A Good Lender will not extend a new loan until the Borrower addresses any "Major Derogatory". For example, if you've tried to refinance your Auto or Home Loan, but denied, there may be a Major Derogatory listed on your Credit.<br />
You may need to file a dispute to address any Major Derogatory in advance of applying for Credit. It can be very embarrassing trying explain a Major Derogatory to a Lender. Check your Credit Report. If you find any derogatory information, investigate it. If the derogatory information is inaccurate, consider filing a credit dispute to correct the record.<br />
<strong>8. Credit Reporting Agencies Gather Information that the Courts Have not Yet Acted upon.</strong> One of the most reviewed items on Consumer Credit Reports are Public Records. Lenders, Landlords, and even Employers check the Public Records section of Credit Reports to see what legal actions have been taken against the Borrower, Lessee or Employee.<br />
Due to no fault of their own, Credit Reporting Agencies have been known to gather information that the Courts have not yet acted upon.<br />
For example, let's say you've fallen a couple of day's behind on your rent? You made arrangement's to pay your rent by an agreed to date. The Landlord agrees, but to protect their interest, the landlord filed an eviction notice in case you don't pay.<br />
That eviction filing then becomes Public Record. But since you paid the rent as agreed the case was dismissed. But your Credit Report may have an eviction filing that may not have been updated.<br />
<strong>9. Inconsistent Reporting of Dismissed Items in Public Records.</strong><br />
Nothing can be more frustrating than looking at dismissed court filings listed as Public Records. This occurs more often than people would like to believe. Credit Bureau's can report dismissed item's inconsistently. Sometimes credit files are updated to reflect the dismissal. Other times you may have to file a dispute to have the information corrected.<br />
<strong>10. Inaccurate Information Regarding Lawsuits. </strong><br />
This one ties into the last two above. From the example above, the eviction notice was dismissed, but when you examine your Credit Report, you find that it's listed as an eviction. You were never evicted. You paid your rent as agreed. But your Credit Report states that you were evicted. That's an unfair assessment of your Credit-Worthiness.<br />
You have the Right to have an error free Credit Report. But please don't file disputes for everything listed on your Credit Report? Doing that could cause your disputes to be flagged as frivolous.<br />
Also correcting credit errors is a process that takes time. But if done properly, a Credit Dispute can keep you from loosing your credit worthiness.<br />
</div>Financehttp://www.blogger.com/profile/10855101937275241944noreply@blogger.com0tag:blogger.com,1999:blog-4978468268514632966.post-21817290576038858132011-04-13T21:43:00.000+07:002011-04-13T21:43:11.567+07:00Hello World!<span style="color: lime; font-size: large;"><b>Under Construction.. .. ..</b></span>Financehttp://www.blogger.com/profile/10855101937275241944noreply@blogger.com0