Free Credit Repair!
FREE Credit Report Action Plan...
Increasing your credit score can have a dramatic effect on the cost of the credit you obtain, including auto loans, mortgages, and credit cards. Simply put, the lower the credit score the higher the interest rate. You want to be in a position where you can obtain credit at the lowest possible costs, then learn how to pay off your credit quickly and easily. Most people want to work on improving their credit score and report, but are often discouraged, they just don't know where to start. The Credit Report Action plan will HELP YOU start your plan and make it easy for you to implement it.
It's important to put together a plan before taking any action as the wrong advice can have the opposite affect on your credit report and negatively impact your credit scores, therefore it's important to work with a professional who knows the system and how to achieve your desired results. Allow me to offer you my services FREE! I will help you improve your credit scores and then can help you obtain the best mortgage financing for your needs.
To get your FREE Credit Report Action Plan, contact our office today by calling (760) 344-5363 or by contacting Frederic A Din for more information. There is no obligation and your information is not shared with anyone, ever. Thank you.
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Are you worried about your credit history? Just about everyone has something in their past credit that is less than perfect. The most important thing is to learn what is on your report, determine what impact that information has on your credit rating, and work on repairing and restoring any damage that may have been done.
Mortgage loan options are rated by credit, labeled like school grades - "A" credit is the best, then down to A-, B, C, etc. Even if you do not have an A credit rating, we can let you know what your options are if you fall into an A- or lower category. The rates are generally going to be higher, and may require a down payment. If you determine that you are not satisfied with this type of financing, then together we can map out what you need to do with your credit and finances for the next six to twelve months in order to qualify for an A credit loan.
There are three main credit bureaus that most creditors (such as credit card companies, banks, leasing companies, etc) provide information to on a monthly basis. Each month, your credit holders report information to the credit bureaus about your current balance, minimum payment requirements, and credit history. If you need specific information from one of the major credit bureaus, following is the contact information for each of them. This information is for consumers only and includes both contact numbers Toll Free and direct dial:
Experian Information Service (XPN)
PO Box 2002
Allen, TX 75013
(888) 397-3742
(714) 830-7000
TransUnion (TUC)
PO Box 1000
Chester, PA 79022
(800) 916-8800
(312) 258-1818
Equifax Information Services (EFX)
PO Box 740243
Atlanta, GA 30374
(800) 685-1111
(404) 885-8000
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FACTS & FALLACIES
Fallacy: My score determines whether or not I get credit.
Fact: Lenders use a number of facts to make credit decisions, including your FICO score. Lenders look at information such as the amount of debt you can reasonably handle given your income, your employment history, and your credit history. Based on their perception of this information, as well as their specific underwriting policies, lenders may extend credit to you although your score is low, or decline your request for credit although your score is high.
Fallacy: A poor score will haunt me forever.
Fact: Just the opposite is true. A score is a “snapshot” of your risk at a particular point in time. It changes as new information is added to your bank and credit bureau files. Scores change gradually as you change the way you handle credit. For example, past credit problems impact your score less as time passes. Lenders request a current score when you submit a credit application, so they have the most recent information available. Therefore by taking the time to improve your score, you can qualify for more favorable interest rates.
Fallacy: Credit scoring is unfair to minorities.
Fact: Scoring considers only credit-related information. Factors like gender, race, nationality and marital status are not included. In fact, the Equal Credit Opportunity Act (ECOA) prohibits lenders from considering this type of information when issuing credit. Independent research has been done to make sure that credit scoring is not unfair to minorities or people with little credit history. Scoring has proven to be an accurate and consistent measure of repayment for all people who have some credit history. In other words, at a given score, non-minority and minority applicants are equally likely to pay as agreed.
Fallacy: Credit scoring infringes on my privacy.
Fact: Credit scoring evaluates the same information lenders already look at - the credit bureau report, credit application and/or your bank file. A score is simply a numeric summary of that information. Lenders using scoring sometimes ask for less information - fewer questions on the application form, for example.
Fallacy: My score will drop if I apply for new credit.
Fact: If it does, it probably won't drop much. If you apply for several credit cards within a short period of time, multiple requests for your credit report information (called “inquiries”) will appear on your report. Looking for new credit can equate with higher risk, but most credit scores are not affected by multiple inquiries from auto or mortgage lenders within a short period of time. Typically, these are treated as a single inquiry and will have little impact on the credit score.
Note: This information is provided by Fair Isaac Corporation, and is used with permission. Copyright © Fair Isaac Corporation. All rights reserved. Further use, reproduction, or distribution is governed by the Fair Isaac Copyright Usage Requirements, which can be found at www.fairisaac.com
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If you want to remove your name from prescreened, pre-approved promotional offers for credit or insurance based on your credit report from Experian, Equifax, TransUnion, and Innovis Data Solutions for 5 years, call (888) 5-OPTOUT—(888) 567-8688—or submit your request online at OptOutPrescreen.com, the only website authorized by Equifax, Experian, Innovis, and TransUnion for consumers to opt out of firm offers of credit or insurance. However, if you want to opt out permanently, you will have to fill out the Permanent Opt-Out Election form available at the website, print it, sign it, then mail it at the provided address. If, after opting out, you want to opt in again, you can do so at the website.
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Personal Information for Profit &
How YOU Can STOP Them
ID Theft is the fastest growing crime in the nation and you should do everything in your power to protect your privacy.
But did you know that TransUnion, Experian and Equifax, the three Credit Reporting Bureaus, are ALLOWED BY LAW to engage in selling lists of consumers who meet certain criteria in order to receive a "firm" offer of credit or insurance? This is the source of the many pre-approved credit offers you receive in the mail.
"Pre-approved" and so-called "firm" offers of credit, however, can be somewhat misleading. If you respond, the creditor may access your report before you are actually granted credit. They can deny your credit application at that time. This is explained in the fine print on the pre-approved offer.
The law does not allow CRAs to compile and sell information from credit reports for the purpose of direct marketing. Although CRAs have engaged in this practice in the past, the Federal Trade Commission in March 2000 ruled that TransUnion violated the FCRA by the sale of personal credit information for target marketing purposes. To read the FTC's full opinion, see www.ftc.gov/opa/2000/03/transunion.htm.
TransUnion appealed the FTC's decision, but the agency's decision was upheld by a federal appeals court. To read the court's opinion, see www.ftc.gov/opa/2001/04/tuappeal.htm. Equifax states it does not sell lists used for direct or target marketing. Experian, on the other hand, sells lists of consumers to marketers derived from consumer surveys, demographics sources, and public records.
How to Have Your Name REMOVED From The Credit Bureaus' Marketing Lists
You can remove your name from any marketing list compiled by a CRA, whether the list is for pre-approved credit offers or direct marketing. To "opt-out," that is, to remove your name from mailing lists compiled by credit bureaus, call the toll-free number all CRAs are required by law to maintain for this purpose, simply refer the Credit Bureau names & addresses listed above or Click Here .
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