Month: October 2011

Aging and Credit Restoration How to Retire Debt Free

It is the long-awaited dream of every working adult: the relaxation of retirement. For some, though, this dream may never come to fruition. Lack of savings, ballooning debt, and overspending are just a few of the roadblocks preventing an aging workforce from realizing their retirement goals. Whether you are 25 or 55, the task of preparing for the future is an important one. Begin today by following the essential steps below.

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Debt Re-Aging and Your Credit Score

Depending on your situation, debt re-aging can help or hinder your credit scores. While one represents an act of fair business practices, the other represents business at its worse. Read on to discover the particulars about debt re-aging and how it could affect you.

Consumer Request Re-aging

The first type of debt re-aging is a welcome relief for struggling consumers. Some lenders are willing to re-age debt as an act of goodwill for loyal customers. In the wake of an economic depression, many people have become first-time members of the late payment club. If you are among this group, you may be able to fix your credit via re-aging. After finding your financial stability, ask your lender to reset your account to “current,” thereby deleting any past transgressions. Many lenders are willing to help customers who:

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10 Tips to Buy a Home with Affordable Interest

Buying a home is an exciting and stressful undertaking. Location, remodeling, and cost are among the multitude of considerations. As many homebuyers discover, affordability goes further than the sticker price. Without a fair interest rate, you could be spending more than you think. Follow the tips below to secure the best rate. The results could save you thousands of dollars.

  1. Get serious about credit repair. The key to finding a competitive and affordable interest rate is simple: good credit. Raising your score will open doors to several financing options that are only available to low-risk borrowers. Begin your credit repair efforts by:
    • Reviewing your credit reports, and don’t forget that there are three of them, one from each of the three major credit bureaus (Equifax, Experian, and TransUnion). Be sure to highlight unfair or inaccurate information, and prepare the appropriate communications for your creditors as well as the credit bureaus.
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Paying Off Debt and Credit Repair

The economic recession has taken its toll on millions of Americans. Unemployment, foreclosure, and the devalued dollar are just a few of the unfortunate byproducts. Moreover, careful consumers are becoming more vigilant about credit repair, causing significant national debt reduction to the tune of $3 trillion since 2008. If you are thinking of joining that responsible group, consider the issues below before taking the leap.

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Five Ways to Avoid Credit Denial

Credit is essential in a world of big-ticket items. Few families are able to afford a home, car, and other necessities without some form of credit financing. So, what happens when your credit is denied? How and when should you fix credit issues standing in your way? Follow the tips below to avoid credit denial and smooth the way for a better financial future.

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