Free Credit Counseling

An Easy Way To Boost Your Credit Score Quickly

As some of you may know, about 30% of your credit score is made up of how much debt you have versus available credit. For example, if you have 2 credit cards with a credit limit of 5,000.00 dollars each for a total of 10,000.00 dollars, and you have used up all 10,000.00 dollars your debt to available credit ratio is 100%, or no credit available. This situation Significantly decreases your credit score, because you are maxed out. You have no more credit available.

Few of us can simply write a check for lets say, five thousand dollars to bring the ratio down to 50%. Also, if you are maxed out, it is much more difficult to apply for a new credit card, as credit card companies may not want to assume the risk.

Since banks this past ,year have dramatically reduced credit limits for even their best credit card customers, the odds are that many of you can benefit from this tip.

Visit Increase My Credit Score. The site sells Books and Music, but will issue a credit card for a significant credit limit, and report it on all three credit bureaus. So, you will achieve two things. An additional "paid as agreed" on your credit report, and a significant increase in your available credit. Doing this can quickly raise your credit score by a significant number of points, and, it is totally legitimate. Are they using this help as a marketing strategy? yes, but at the same time they are providing a service to you.

American Debt Enders has no ties with this company, we are simply passing along the information.

If you enjoyed this article and would like to subscribe to our FREE Credit Counseling Newsletter.

Written By:
Steven Ciantro
Member National Association Of Certified Credit Counselors
American Debt Enders
help@americandebtenders.com
877-766-2465

How To Get Your Credit Score FREE!

OK, loyal readers. This awesome tip comes to you from one of the subscribers to this newsletter.

As you know you can easily pull a Free Credit Report by visiting Annualcreditreport.com. But now you can also get your credit scores absolutely free of charge by visiting: FREE CREDIT SCORE.

It has been to long that the three major credit bureaus have had a monopoly on providing credit scores or FICO scores for a price. Very big business indeed. The geniuses at the above link which is http://www.creditkarma.com/ have come up with a way of giving it to you free. In the spirit of free enterprise they support the site with paid advertising. I say Kudos to them.

There it is. Short and sweet. Please feel free to pass this article to anyone you think may benefit from it. By so doing, you will create good Karma for yourself."We reap what we sow". And, if you are not currently a subscriber to this FREE CREDIT COUNSELING NEWSLETTER just visit the aforementioned link and leave your email address. We never share your information.

Written By:
Steven Ciantro
Member National Association of Certified Credit Counselors
American Debt Enders
help@americandebtenders.com
877-766-2465

Verify Credit Card Balances To Improve Credit Score

Here is something everyone can easily do to insure that you are not losing points on your credit score, unnecessarily.

Creditors can do a very sloppy job when it comes to reporting information about your accounts. No surprise here as we have written extensively on this subject. One problem is that they often report your present credit card balance as whatever your highest balance has been on the card.
E.g. If you once had a balance of $5,000.00 on a particular credit card, andnow that balance is $2500.00, do not be surprised to see the current balance on the credit report listed as $5000.00.

Here is why this is a problem for you. A large part of your credit score is made up of the debt t available credit ratio. Generally, the lower this number, the higher the score. Any time the current balance is listed higher than it actually is, you will be penalized points.

Capitol One actually routinely reports the highest balance as the current balance. You will want to check your credit reports and verify that the balances are reported correctly. If they are not, you need to write to all three credit bureaus, Experian, Equifax and Trans Union and have it corrected.

If you are planning a credit purchase it is always a good idea to check your credit report first, anyway.

If you enjoyed this articleplease feel free to visit: AMERICAN DEBT ENDERS to subscribe to our FREE Credit Counseling Newsletter.

Written By:
Steven Ciantro
Member National Association of Certified Credit Counselors
American Debt Enders
help@americandebtenders.com
877-766-2465

Controlled Study Proves High Error Rate On Credit Reports

I have long known that over 70% of credit reports contain significant errors. Here is an article that presents the study and its findings proving me to have been correct. U.S.PIRG.

Please allow me to summarize the findings. The big three credit reporting agencies, collect and report information on 90% of all american adults. They are Equifax, Experian and Trans Union. Those files are often sold to landlords, lenders, employers, credit grantors and collectors often without your permission.

Their have been several studies which prove that their is a high error rate in the data contained in your credit report. Enough errors to cause you to be declined for credit, a job, or a loan, or pay a higher rate than you ordinarily would have.

The study cited in this article asked adults in 30 states to complete a survey on their reports accuracy.

Here are the survey results as reported in the article:

- Twenty-five percent (25%) of the credit reports surveyed contained serious errors that could result in the denial of credit, such as false delinquencies or accounts that did not belong to the consumer;

- Fifty-four percent (54%) of the credit reports contained personal demographic information that was misspelled, long-outdated, belonged to a stranger, or was otherwise incorrect;

- Twenty-two percent (22%) of the credit reports listed the same mortgage or loan twice;

- Almost eight percent (8%) of the credit reports were missing major credit, loan, mortgage, or other consumer accounts that demonstrate the creditworthiness of the consumer;

- Thirty percent (30%) of the credit reports contained credit accounts that had been closed by the consumer but remained listed as open;

- Altogether, 79% of the credit reports surveyed contained either serious errors or other mistakes of some kind.

OK, so the next time someone tells you that credit restoration companies are a scamsend them a copy of this article, and tell them to think again.

Their is always so much negative misleading propaganda put out in the general media about credit counseling, especially for profits and credit restoration companies that it is high time someone challenged them to prove their claims. The fact is, unless a company is just fraudulent from the get go, they cannot prove their negative talk. It is the banks and non-profits who are controlled by the banks, coupled with the credit reporting, or should I say debt reporting companies that have a sweet deal going enslaving consumers with this brainwashing fixation on credit report scores and borrowing.

If you find an error on your credit report and need help or even free advice on how to remove it, by all means contact us by visiting: American Debt Enders.

Also, if you enjoyed this article and learned something you did not already know, when you visit our site, click on the link to subscribe to our FREE, Credit Counseling Newsletter for more great unbiased and accurate information to keep you out of debt slavery.

Writteb By
Steven Ciantro
Member National Association of Certified Credit Counselors
American Debt Enders
help@americandebtenders.com
887-766-2465

Can A Bad Credit Score Ever Be A Good Thing?

When people are burdened with a debt crises, especially if the crisis has just happened, that holds them back from getting organized help is their credit score. What do I mean by this? Well, if someone is having great difficulty meeting their monthly minimums on their unsecured credit card debt, and is in fact in a pay for life program where the debt will not be paid off for 30 years or sometimes longer, the first question asked is "how will a debt management program program effect my credit".

Please do not misunderstand me, it is a reasonable question and should be asked. The fact is that because accounts in a debt management program are closed to further charging, at the time the bank accepts the proposals for new payment terms, the credit score does take a hit. How great a hit, depends on many factors outside the scope of this article. But, because of this fact, some people laden with debt will not proceed, failing to get the point, or to understand that they have been brainwashed into debt slavery.

Credit scores rise and fall. Does it make any sense to pay back a debt at 30% interest over 30 years, so you can protect your credit score for a few points? The fact is, as you get rid of debt, you will start improving your credit profile, and not be anyone’s debt slave. You will as a debt free person, be totally self empowered in your financial life. Furthermore, your health will improve, as will your mental outlook. These are very tangible reasons to make the necessary sacrifice to your credit score.

This credit score issue is used by non-profits to tell people to avoid debt settlement, even when debt settlement is the most viable option. The fact is that unless a consumer is in a true financial crises, they should not be in a debt settlement program. So if the debt ridden is already in a debt crises with a poor credit score, then, they are able to see more clearly how a structured debt relief program, whatever it is, can help. Then, the only way to go, in terms of a credit score is up.
Written by:
Steven Ciantro
Member National Association of Certified Credit Counselors American Debt Enders
help@americandebtenders.com
877-766-2465

Authorized User Account Rules Change Again

In a typical knee jerk reaction, Fair Isaacs Company, otherwise known as FICO, the makers of your credit score, stopped reporting or counting authorized user information on the authorized users credit profile. Why? Because a new industry had sprung up in which people with very strong credit profiles were selling authorized user accounts, so that their good credit profile would make a positive impact on the less than stellar profile of the authorized user. This was very effective, but was considered to be cheating the system, even though it was quite legal.

So, even though, the practice had gone on for many years after a tidal wave of press coverage on the issue, FICO decided to no longer report the profile of the card owner on the authorized user account. By the way, in addition to this being done as a business, parents used it to help their children to establish credit early on, ubtil they could build up their own credit.

Well, it was not long before lenders complained, that the Equal Credit Opportunity Act, required them to consider a spouses credit history when determining a borrowers credit risk, something they claimed they could not do when FICO stopped reporting authorized user accounts.

So, if you would like to try to boost your credit score or someone else's score by making them an authorized user on your account, by all means do so. The person you make an authorized user does not even have to use the card. Your payment history on the card will automatically transfer to their credit report, and provided you are a timely payor, and do not use more than 20% of the available credit, and help improve the authorized users credit score.

Just remember, if the authorized user does use the card, you as the card holder are legally responsible for the debt, not them.

If you enjoyed this article and would like to subscribe to our newsletter, simply visit: FREE CREDIT COUNSELING NEWSLETTER and leave your email information--we never share your information, or spam you. Written By:
Steven Ciantro
Member National Association of Certified Credit Counselors
American Debt Enders
Help@americandebtenders.com
877-766-2465

PRBC-Payment Reporting Builds Credit with Secured Credit Card!

This is important news for anyone looking to rebuild their credit. Payment Reporting Builds Credit, more commonly known as PRBC, is a credit bureau. Most people are unaware that while their credit scores are based on information reported on the big three, Experian, Trans Union and Equifax, these three bureaus can get their information from other lessor known bureaus. One of them being PRBC.

OK, so why is this good news? You as an individual can sign up with PRBC at no cost, and have your rent payments, utility bills, phone bills, and even your cable bill reported to PRBC. This will build a credit file. For a small fee, and at your request, PRBC will verify the accuracy of the information. Additionally, Fair Isaacs Corporation, the same people who generate your FICO credit scores for the big three, is working with PRBC to produce a PRBC credit score.

Want to have your payments automatically reported to PRBC? You can sign up for a Secured Credit Card from VR-Tech Marketing and it will report everything you pay using the card. The card will look and act just like a credit card, but will be funded with your money. After six months of payments you can apply for an unsecured credit line. This unsecured line will also report to the big three. So, if you have been struggling and looking for a way to build your credit, you have just discovered the answer.

Want More? HUD will recognize the PRBC when evaluating you for a home loan. Yes, the FHA is strongly supportive of this effort. So if you have previously been invisible to the credit scoring companies, and want to change that situation, you now can.

If you would like to view a video about the PRBC visit: WATCH THE PRBC VIDEO.

If you have enjoyed this article and would like to subscribe to the FREE CREDIT COUNSELING NEWSLETTER, yes it is free, please visit: American Debt Enders and simply provide your email address. We never share your information or spam you. While you are their, please feel free to call us or email us, or try a live chat, if you need debt settlement, or debt management or just have a debt relief question. We have more than one solution to help you.

Written By:
Steven Ciantro
Member National Association of Credit Counselors
American Debt Enders
Help@americandebtenders.com
877-766-2465

Change In Credit Scoring Rules Coming

Late in January of 2009, the Fair Isaacs Company, from which is derived the FICO Score will be changing its scoring rules to help improve consumers credit scores. So, exactly how will these changes help? Consumers with late payments on debts of less than 100 dollars will be ignored. Also, less negative weight will be put on car repossessions and other charge offs. All active accounts however will have to be in good standing. Finally, and perhaps not so good news, authorized user accounts will now be ignored in the scoring. What are authorized user accounts? Simply this. When anyone with a credit card in good standing requests that someone be added to the card as an authorized user, which means they are not responsible for the debt, the authorized users score will not be raised.

In the past parents have added their children as authorized users to help them attain a good credit score. This practice will no longer have any effect on the childs credit score. Additionally, any open accounts not in use could change a persons credit score negatively, as banks are shutting down accounts which are not in use.

Consistent with all my articles, I advise everyone, to be more concerned about clearing up any debt issues you may have, and worry less about being dependant on the banks money. If you need debt help please visit: DEBT HELP.

If you are not already a subscriber and would like to subscribe to FREE Credit Counseling Newsletter, please visit: FREE NEWSLETTER Written By:
Steven Ciantro
Member National Association of Credit Counselors
American Debt Enders
877-766-2465

Free Credit Counseling|Do It Yourself Credit Restoration

Have you ever wondered what companies send you when they claim you can erase bad credit overnight? How about those ads that say you can get any major credit card without a deposit or a credit check? Ads abound almost everywhere these days (online and off) selling books, systems and secrets to help you fix your credit.

Many of these programs have claims which read like the covers of supermarket tabloids: "In 3hrs my credit score jumped from 580 to 676!"... "Erase bad credit and smash your debts with just 2 Magic Letters!". Are these types of claims ALWAYS too good to be true? The answer is "Yes and... no". While many people would love for you to believe the only thing that can fix bad credit is time; in reality... nothing could be further from the truth. The fact is, time is only one factor which can fix a credit report, but it's a far cry from being the only factor. How can I back this up? Easy. Under a consumer protection law known as the Fair Credit Reporting Act (a.k.a. the FCRA) the only negative information which can remain on your credit report is not what is accurate... but what can be proved as accurate under the FCRA. What's this mean to you? It means any negative item on your credit report can only remain there if it is accurate and CAN BE PROVED AS SUCH under the guidelines of the FCRA. This undisputable fact presents consumers with both good news and bad news. The good news is that through the FCRA your credit score can most likely be improved dramatically in a very short period of time with only a modest amount of effort on your part.

The bad news is that while the actual "work" will take very little of your time, it is vital that you have good information on "how" to go about it. This is the bad news; 9 out of 10 courses on restoring your credit will do nothing more than lead you into snake pits because they will provide you with what the industry refers to as "Boiler Plate" dispute letters. These are nothing more than form letters and... quite frankly (more bad news) the Credit Bureaus and Creditors will laugh at you if you try to use them. While I agree with the Federal Trade Commission (FTC) that "Anything a Credit Repair Clinic can do for you legally, you can do for yourself at little or not cost"... the key element you need for success is the latest inside techniques and procedures to get the results you want. This involves strategies such as "Proof of Contract", "Constructive Notice", "Challenge of Procedure" or "Restrictive Endorsement" and many others. All these terms may "sound" impressive but they are really quite simple. In the end, it is nothing more than a method of communication which exercises your consumer protection rights, gets the results you want and raises your credit score. Even more impressive, once you learn how simple it can be by doing it for yourself, you will find there is a fortune to be made doing it for others! Either way, it all starts by requesting a free copy of your credit report here: http://www.AnnualCreditReport.com In the next segment we'll talk about: "Is Your Credit Score Costing You A Fortune?" ======================================= The "CREDIT SECRETS BIBLE" has been in print since 1994 and is published by Consumer Publishing Group. For more information on the "CREDIT SECRETS BIBLE" you may visit: http://www.creditsecretsbible.org/?hop=sciantro01 ======================================= Brought To You By: www.Americandebtenders.com Help@americandebtenders.com 516-476-5903
Author:The TRUTH About Credit Repair... -by Terry Price (C) Copyright Terry Price