Gifting of Equity Can Serve as Your Down Payment If you are buying a home from a relative, the relative can gift you the equity in the home to take the place of the down payment or closing costs, according to Loan Originator, Christine Forest of Supreme Lending. Gifting can only be done by a [...]
CRO or MLM? When hiring a credit repair company (legally termed a Credit Repair Organization, or CRO), look carefully at what the company really does. Most credit repair companies are fraud. Other companies, fraud or not, simply are inappropriate because of conflicting goals. In this mix are multilevel marketing companies, or MLMs. The goal of an MLM [...]
New Waiting Period for Reporting. Medical debts can be as convoluted and hard to understand. One medical stay can produce billing for multiple doctors with multiple billing companies, requiring multiple payments. Often times the confusion leads to bills being unpaid unawares. Well, there is good news. New developments in reporting standards for charged off medical [...]
Timing Is Everything When trying to maximize your credit score there are a lot of theories of how you should treat your credit cards. Some say never use them, some say keep a balance, some say use them up and start paying them down slowly over time. The first thing to remember about managing your [...]
"Tall men come down to my height when I hit 'em in the body"- Jack Dempsey As a consumer, you have rights. Understanding these rights are imperative in the credit restoration process- especially when dealing with debt collectors. Some of the less discussed rights you have are: 1) Debt collectors (with the exclusion of attorneys) [...]
Keep Mrs. Clause from turning around while showing you a mistletoe. Some people have a unique opportunity to finance the holidays this year. In the months of September and December, there is a possibility you get an "extra" check. If you are a current or prior customer, I encourage you to extend your budget calendar out [...]
Sleep is one thing- finding rest is another. Every March, we set our clocks back an hour. While that is probably the ONLY time many of us get to "sleep in", there are, perhaps other, more constructive ways to spend that hour. Here are some suggestions: Create A Budget. The first step our customers take [...]
Did you know that your credit can keep you unemployed? If you are job searching, be warned that your credit can keep you from getting the job. Certain job industries carry with it the need to handle expensive items, money, and confidential material. With a low credit score, you may be deemed too much of a [...]
Another Reason Not To Get In The System. Did you know your criminal record is listed in your credit report? Further, there is no statute of limitations as to how long it stays on your report. To add insult to injury, since the criminal records section of your credit report is included in the court [...]
Federal Statutes on Overdue Accounts. If you look on your credit report and you see months of 120 day late postings, the creditor may be in violation of Federal statutes. Reporting an account as late for extended periods of time is cut off depending on the type of debt. Federal regulations require creditors to charge off [...]
