It’s that time of year again. By now, the kiddies are gearing up for school with new clothes, school supplies, and a clean slate. As Mom or Dad, the cost of a new school year may have you feeling less than excited. Sure, you want your kids to have a good education, but watching your bank account shrink to provide it is discouraging, especially when credit repair and debt reduction are priorities. This year, strive to achieve all your goals by purchasing the items below with discernment. Your efforts will help you set a good example for the kids and allow you to focus on your credit repair goals. It’s a win-win.
There is a fine line between credit-recommending debt and disaster. While a few lines of good credit will allow your score to shine, going overboard will accomplish the exact opposite. If you sense a tip in the scales, consider the following warning signs below. Recognizing these issues in yourself will help you decide if credit repair is the next step.
Credit scoring is confusing and broad: FICO, TransUnion, Experian, Equifax, etc. You’re probably thinking, which score counts? Avid readers of our blog have learned that the Fair Isaac Corporation actually uses the information found within your credit reports to calculate your FICO score. Known simply as a “credit score,” the FICO rating ranges between 300 to 850 points and measures your level of risk and ability to repay debt. FICO scores are widely used by creditors to approve or deny loan applications, lines of credit, mortgages, etc. While useful to lenders, many consumers criticize the scoring model, citing it as the only popular rating system, a monopoly with no competition. With the advent of the VantageScore, their criticisms have been heard.
Airline travel is a luxury that many families consider impossible. The reason? In addition to rising fares, the extras have the power to drain a bank account. For those focused on credit repair, gassing up the car may be the best economical alternative. However, those embarking on lengthier trips understand the helplessness associated with high prices and little choice. Whatever your situation, be wary of the following money-drainers on your next trip. Aggressive credit repair requires aggressive savings; something every consumer can accomplish with a little forethought.
We all live with the threat of personal identity theft. The world of technology has opened countless doors to thieves, endangering our credit scores and peace of mind. For business owners, this threat is twofold.
Though less prominent, business identity theft still remains a danger to U.S. credit scores. Sole-proprietors and other small business owners are at the front lines of this credit war, often realizing a problem only after it has spiraled out of control. Read on to learn more about avoiding this growing problem as a businessperson, and what every consumer can do to help.
Business owners face identity theft on a global scale; with the right tools, anyone in the world can steal your company name and drag it through the mud. Protect yourself by becoming vigilant in the following areas: …
Our clients saw over 4,800,000 negative
items removed from their combined credit reports last year.