Why credit repair [is|are] Lamer than James Franco | Keyport New Jersey 07735

Consider your credit score a “Debt Score”. Your score really reflects your ability to STAY IN DEBT, and of course, pay bills on time. When the data breach at Target happened, I checked my balances often and was actually downgraded 20 to 30 points on my fico score for accessing my bank balance too many times. How silly is that. Credit scores are a joke. Work hard, save hard and pay with cash. Over a lifetime, the average joe would save $1000’s if not $10’s of thousands in interest charges.
That is so true. I am proved to the Credit bureau that a billed is not mind. They still did not changed it. I did what Juanita suggested. I paid off everything then my score came down. Now I save up money and buy the items or use layaway. As I said before Operator head space. (JIJO). Creditors want your credit to be bad so that they can charge you higher interest rates.
The three major credit bureaus rely on five types of information to calculate your credit score. They collect this information from a variety of sources, and compile it to give you an overall score. The score is comprised of 35% payment history, 30% amount owed, 15% credit history, 10% new credit, and 10% credit diversity.
Start of the day was callings patients and reviewing their medical claims for collection or to resolve any issues. Management was okay. My co-workers were great. The hardest part of my job was lack of respect from Management.
Cards with annual fees also should be avoided, Steele says, unless they’re packed with benefits — such as cash-back rewards and miles that can be redeemed for travel – that outweigh the fee. Those who are smart with credit look for cards that waive that fee for the first year then re-evaluate the card in the second year to see if the benefits outweigh the fee, Steele says. It’s also smart to look for cards that offer a 0% interest rate for the first year, he says.
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To ensure your credit stays “good” in the long-term, it can help to pick one credit score and monitor your progress over-time. It also helps to pay attention to whatever is being cited as a “risk factor” — for instance, say, the amount of debt you’re carrying is too high — instead of a particular three-digit number. Addressing whatever is weighing down a single score will likely bolster your standing across scores. That’s because, while the exact credit score ranges may vary, most models are based on the same five categories:
Maybe mistakes on your reports have dragged down your score. If your information has been mixed with someone else’s, for instance, that’s a fairly easy problem to address. Simply dispute the errors with the credit bureau.
If you have something on your credit bureau that is 30 years old, it has to come off. It is quite easy to do these days. Just contact the Consumer Financial Protection Bureau (CFPB) and file a report against the company holding your credit hostage (if the credit bureaus are the one’s refusing to remove it, then file the complaint against them. If the debtor company is refusing to remove it, then file the complaint against them…or both).
First credit scores and the bureau’s are the biggest jokes out there. How come they only look at loans and credit cards. Why not look at everyone’s normal bills like rent or mortgage, gas bills, electric bills and you get the drift. It’s a scam out there. Then if you have bad credit you can find someone with good credit and have them put you on there credit cards without even using it. The credit world is bad and that’s why the big banks are hurting.
The most popular statistical technique used is logistic regression to predict a binary outcome: bad debt or no bad debt. Some banks also build regression models that predict the amount of bad debt a customer may incur. Typically this is much harder to predict, and most banks focus only on the binary outcome.
Lenders need not reveal their credit score head, nor need they reveal the minimum credit score required for the applicant to be accepted. Owing only to this lack of information to the consumer, it is impossible for him or her to know in advance if they will pass a lender’s credit scoring requirements. However, it may still be useful for consumers to gauge their chances of being successful with their credit or loan applications by checking their credit score prior to applying.
Immediate Action Service: When fast results are needed on a problem account, Affiliate collection services are a trusted choice. The experienced Affiliate collection staff uses professional techniques to effect collection. If the debtor fails to respond or is uncooperative and further action is required, the account is forwarded to the Litigation Service. If the debtor is outside of your service area, the account may be forwarded to an NACM Affiliate or attorney in the debtor’s area.
FICO scores are used by many mortgage lenders that use a risk-based system to determine the possibility that the borrower may default on financial obligations to the mortgage lender. For most mortgages originated in the United States, three credit scores are obtained on a consumer: a Beacon 5.0 score (Beacon is a trademark of FICO) which is calculated from the consumer’s Equifax credit history, a FICO Model II score, which is calculated from the consumer’s Experian credit history, and a Classic04 score, which is calculated from the consumer’s Trans Union history.
To check your credit history, go to annualcreditreport.com It is free once a year from each of the three credit bureaus only if you go through this site. Or you can get it free by calling 1-877-322-8228. Or send a request with your name, Social Security number, date of birth, mailing address and previous mailing address (if current address is less than two years old) to: Annual Credit Report Request Service, P.O. Box 105281, Atlanta, GA 30348-5281
Credit scores are not included with credit reports. Additionally, credit scores are not stored as part of your credit history. Your credit score is calculated only when your credit score is requested. Your credit score can change over time, based on your credit history—including late payments, amount of available debt, and more.
A friend who worked at costco signed me up for an amex to boost her sign up participant numbers and there I was, 19, $10k limit amex. It ended HORRIBLY. I’m still making up for it five years later 🙁 At least you didn’t dig yourself a whole as deep as I did. Had I known the things I know now back then, I’d be in a much different situation. I totally agree that working at a bank forces you to look at your own situation and better yourself. I started working in retail and my paychecks normally went back into what ever store I was working at. 
Have more than just a credit card. Have specific credit cards. Like lowes. Home depot. Firestone. Best buy. Use them as needed. Dont pay cash or debit. But also control your expenses. I, personally, may have more than 10 different credit cards. If you use the specific credit card from a store, like lowes. You get 5% off, also no interest if paid full in 6 or whatever months. How great is that. You save 5% and also you have no interest on the amount. Meanwhile your regular credit card has interest. Probably over 14% since your credit is not exellent. Apply for loans. But dont use it. Let it expire. Like car loans. Switch cards. From different banks. By that i mean dont alwas use 1 card. If you have 3 CC and u use all 3 of them, you will get 3 reports a month. Do not ever pay of your main credit card. You pay it of, you cc company will stop the reports. A report is the amount you owe and the amount you paid. If You dont owe in your credit, you dont get reported.
Although banks have been good to Pavelka, he revels in lashing out at them. He mischieviously recalls a time in the 1980s when he couldn’t get his credit card companies to give him actual payoffs, including interest, for his accounts. So he calculated the amounts themselves (he was a math major) and intentionally overpaid by 1 or 2 cents. That forced the companies to continue sending him paper statements and paying for postage so they could show his credit balance.
As someone with a 798 credit score, at the top of the population, you could potentially qualify for a no financing auto loan. In other words, you wouldn’t owe any interest at all. And in the event that the lender expects you to pay interest, it will be an extremely low rate averaging around 3.6%. This is true independent of the type of car, used or new, that you’re looking to buy.
What are the primary reasons they list for your score being what it is? What credit scoring model are they using? (You may have to dig a little to figure that out.) If you get your free credit score from Credit.com, you’ll also get the reasons your scores are what they are, and an action plan for your credit.
I had the same problem! I saw that  my credit score was high so I was thinking hmmm why not go and apply for a credit card, thought I could manage it but then temptation got out of hand. So my credit score is EXTREMELY low, very shortly after opening up the accounts. Its good to know that if I just pay off the balances and keep the balance lower than 30% my credit will shoot back up 🙂

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But if you have fair credit, all hope is not lost. While lenders typically prefer credit scores to fall in the good to excellent range, people with fair credit scores are still considered viable applicants for many loans. Additionally, with some work, persistence and responsible credit usage, you can improve your credit score.
Don’t assume your score is good (or isn’t) just because you have always paid your bills on time (or haven’t.) The only way to know whether you have a good credit score is to check. You can get your credit score free at Credit.com. This is a truly free credit score – no payment information is requested. In addition to the number, you’ll see a breakdown of the factors that affect your score and get recommendations for making your credit as strong as possible.
And we, the taxpayers, bailed them out. That’s the icing on the cake. And Congress, the REAL bastards who were supposed to be on our side, didn’t force these banks to renegotiate the loans so Americans could keep their houses. These politicians smile in your face, shake your hand, and claim to feel your pain—in reality: they have NO IDEA what it’s like to struggle to pay their bills because we, the people, pay their bills every month.
Companies like Bear Sterns, Lehman brothers, Bradford & Bingley, Loyds all received AAA credit ratings two months before they all went bankrupt – which then led to the global meltdown. The “Credit Score” system is a scam, it was created by the banking industry aka wealthy elite, to exploit the people who actually DO work; which allows the wealthy to actually do nothing and play their unscrupulous games with all of our hard earned money. I worked in the banking industry for years, these are NOT nice people. The best advice is: Avoid using the banking system as much as you can. Pay with cash or debit if it’s necessary. In other words… don’t let the “credit rating system” control you – it is the way the banks get the upper hand, and steal more of you hard earned money. They steal enough already, don’t let them take more.
There is no minimum credit score needed to apply for most loans or credit cards. However, you are less likely to qualify for a loan or credit card and less likely to receive favorable rates when your credit score is low. If you are trying to qualify for a conventional loan or credit card with a low credit score, you may wish to wait until your credit improves, so you can ensure you get the best rates possible.
Demonizing those who struggle is easy to do when you aren’t… Until you are… Then you gain empathy. It’s easy to feel like you are stable enough to never have to worry until you are laid off because of a medical issue or a recession and it takes you months, possibly years, to recover because you are forced to work minimum wage (if you can find a job like that) and dwindle your savings while looking for a job that you qualify for. The recession taught many people that it can happen to anybody, regardless of forethought, preparation, or current stability.
Payment history has the biggest impact on your credit score. If you are behind on any bills, you should call the creditor and arrange to pay the past due amounts. After making your payments, you can request that the creditor rescind any reported delinquencies so they that will no longer show up on your credit report. While this may be the slowest step, it is essential to improving your credit score.
The first step to interpreting a score is to identify the source of the credit score and its use. There are numerous scores based on various scoring models sold to lenders and other users. The most common was created by FICO and is called FICO score. FICO is a publicly traded corporation (under the ticker symbol FICO) that created the best-known and most widely used credit score model in the United States. FICO produces scoring models which are installed at and distributed by the three largest national credit repositories in the U.S (TransUnion, Equifax and Experian) and the two national credit repositories in Canada (TransUnion Canada and Equifax Canada). FICO controls the vast majority of the credit score market in the United States and Canada although there are several other competing players that collectively share a very small percentage of the market.
Why does my FICO scre continue to change? It fluctuates fron 832 to 826. I do nothing different…..pay my cards of constantly and some have negative balances (meaning I overpaid and the CC owes me money).
Although each item was adddressed, documented, and confirmed because I was not able to travel TO THE COURT TO SHOW UP ( I worked in South America for 6 years) the Judge awarded the local Atty. ( More importantly their was “no proof of service” ( meaning nothing received that required a signature to prove it was received) that was able to be shown that was ever sent to me! Yet again, the local Judge awarded the local Atty money ( including more interest) against a filling that was entered into with the court 3 years after I moved out of the State, and then an additional 5.5 years that they tried to collect the ine highly inflated, bogus (no work done) billing. THIS HAS BEEN ON MY CREDIT BUREAU FOR 7 YEARS, and instead of allowing it to drop off, the Atty has refiled his claim again that will keep it on my bureau for another 7 years!
@Jag1972 I cannot disagree with you more. First of all, a person in their last few working years should not have their money invested in aggressive funds which make it susceptible to downward market trends, or a crash. The money should be moved to a much less aggressive fund such as treasury bonds. That would allow your money to continue to earn interest at a higher rate than it would in a savings account. Putting your money in your mattress, or a safe at the bank are ludicrous ideas to say the least because the money is not creating interest in any way.
In general, a FICO credit score above 650 is considered good, although many people strive to be above 750. It is practically impossible to score a perfect 850 FICO score because there are a lot of different items from your credit report which go into calculating your FICO score. Keep in mind that different lenders (mortgage, credit card, automobile loan) will use different methods of credit scoring to assess your credit risk.
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According to the U.S. Bureau of Labor Statistics (BLS), employment growth for financial managers was predicted to increase by nine percent from 2012 to 2022, which is as fast as the average for all occupations (www.bls.gov). At a rate of five percent, growth is expected to be slower in the depository credit intermediation industry, which includes commercial banking institutions. The BLS reports that, as of May 2013, financial managers earned an annual wage of $126,660 on average.
With regard to the first part of your question, this story may help: Credit Deja Vu: When Negative Information Keeps Showing Up on Your Credit Report and with the second one this may help: Four Medical Bill Myths That Can Cost You Dearly
The accumulation of wealth and experience over time is the most likely explanation for this. As people age, they also tend to grow more financially responsible and secure, qualities that lend themselves to credit improvement. And the more time you have, the more opportunity there is to recover from mistakes. Another reason is the way credit scores are calculated. The length of your credit history accounts for a significant portion of your score (around 15%), for one thing.
As soon as the credit reporting agencies have the updated balances any credit score that is calculated will reflect that new information. It usually happens within 30 days or less, but depends on the reporting cycle. (Most lenders report monthly.)
There are different methods of calculating credit scores. FICO scores, the most widely used type of credit score, is a credit score developed by FICO, previously known as Fair Isaac Corporation. As of 2018, there are currently 29 different versions of FICO scores in use in the United States. Some of these versions are “industry specific” scores, that is, scores produced for particular market segments, including automotive lending and bankcard (credit card) lending. Industry-specific FICO scores produced for automotive lending are formulated differently than FICO scores produced for bankcard lending. Nearly every consumer will have different FICO scores depending upon which type of FICO score is ordered by a lender; for example, a consumer with several paid-in-full car loans but no reported credit card payment history will generally score better on a FICO automotive-enhanced score than on a FICO bankcard-enhanced score. FICO also produces several “general purpose” scores which are not tailored to any particular industry. Industry-specific FICO scores range from 250 to 900, whereas general purpose scores range from 300 to 850.

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