Free Credit Counseling

Tidbits Of Knowledge To Stay Debt Free

I am going to take a slightly different approach in this newsletter edition. Instead of giving you a lot of information about one subject, I am going to provide multiple tidbits of information you generally will not get anywhere else.

Are Banks The New Pay Day Loan Providers?

Consumer reports released an online report showing how Banks are taking in billions of dollars in new income from new much higher overdraft fees on Debit cards. Thanks to the way Washington offers consumer protection, recently passed legislation requires that banks notify you and ask if you want overdraft protection, rather than automatically enrolling you, and charges have increased from 5.00 per covered transaction to 35.00 dollars per transaction. Yes, that means every time they pay a Debit card charge against uncleared funds of even one dollar, they can chrge you 35.00 additional. Since a vast majority of consumers opted for the protection, the banks brought in an additional 32 Billion dollars just last year, (2011). You can frankly borrow money at a payday loan company cheaper. Want to avoid getting ripped off? Here are three ways to do it: 1-Simply decline overdraft protection. (Make sure you monitor carefully if you do this). 2-Try linking your bank accounts, so you can quickly transfer money. Just be sure you know how much they are going to charge you per transfer. 3-Sign up for "Alerts" so you always have enough cash in the account.

Do Not Let A Short Sale Ruin Your Credit

Previously, if you were under water on your mortgage, or owed more than the house was worth, and you got the bank to agree to a short sale, your credit would be ruined. However, thanks to a new piece of legislation, if you need to do a short sale and the bank agrees, if you have been making all your payments on time, then your credit will not be effected. Important: This only applies if all your payments have been made on time.

Thanks for reading, this FREE Credit Counseling Newsletter is brought to you by American Debt Enders where their is never a charge for Credit Counseling on ways to relieve debt.

Written By
Steven Ciantro
American Debt Enders
Credit Counselor
Talkshoe Radio Host
Help@americandebtenders.com
Gail Kasper Official Debt Expert
877-766-2465

The Credit Score Simulator--Puts Power In The Hands Of The Consumer

This is exciting. I am about to share with you a tool that answers one of the most commonly asked questions in the world of credit counseling. The question is, If I do such and such a program, how will my credit score be effected? Well, it is virtually impossible to answer this question in anything but general terms, by any credit counselor or anyone else. However, now it is with great excitement, that I give you absolutely FREE of charge the Credit Score Simulator. Yes, there is such a tool.

The good people at Creditkarma.com the free site I have been referring people to for free credit scores, now offers a very powerful Credit score simulator tool. So why is this good? Well, now finally if you the consumer wants to know how letting someone pull your credit report, say for a credit card application, will effect your credit score, you can simply follow the instructions in the simulator tool, and get an excellent idea of what your credit will look like after you make the application. This puts great power into your hands. No more guessing or depending on the so called experts to help you make such a decision. You can now make an informed choice on your own, based on facts. Yes, your own personal debt management program.

In the world of credit counseling, this is like the ultimate self empowerment tool, and we are very big on self empowerment, as you know if you are a regular reader of our newsletter.

Suppose, even before using the tool you discover that your credit score is to low for comfort. Not to worry. Now you can have Free Credit Counseling Consultation with a Credit Restoration expert to review actions you can take to remove or correct information on your credit report to raise your credit score. This is all extremely exciting, as in todays economy of tight money far to many people are locked out of the credit markets, when at times the availability of credit is a must, especially in an emergency.

If you know someone who could benefit from this information, please do feel free to pass it on. And, if you are not currently a subscriber to this FREE Credit Counseling Newsletter, please feel free to simply leave your email address and do so. We never share your information.

Written By: Steven Ciantro
Certified Credit Counselor
American Debt Enders
Talkshoe Radio Host
Help@americandebtenders.com
877-766-2465

Credit Restoration And The TV Talking Heads

Yesterday as I watched Dave Ramsey answer questions from viewers, something I always find fascinating, I was somewhat taken back but not really surprised by the following question and answer. Particularly because the topic is something I am somewhat of an expert on.

The question was, If my credit score is low, what can be done to raise it, and should I consider using one of those credit restoration companies that I see advertised? Needless to say, I was paying attention to every word. Let me be clear. I am not a basher. But these TV personalities on finance all leave a great deal to be desired.

You have probably already figured out what the answer was. Dave said, definitely not. There are problems with all these companies. The only way to remove or change a credit report is if the entry is wrong. Doing anything else, would be fraud. Well, there is a smidge of truth here, but that's about it.

Here is the real answer. Credit Restoration companies are heavily regulated by the FTC. Does that mean that they are all trustworthy and do a good job. No. No more than regulations insure excellence in any other field. However, he missed a perfect opportunity to really educate viewers on this topic, which is so vital to a consumers well being.

The best credit restoration companies insist that the credit reporting agencies follow the laws on credit reporting. One example would be the "FCRA" which stands for the Fair Credit Reporting Act. This act mandates that all reported entries to a persons credit report have been verified. The reporting entities, that includes the creditor, as well as the credit reporting entity both have the verification on hand. So here is the million dollar question. Do they? No they do not. In a recent newsletter article put out by American Debt Enders, here is the full article: Best Reasons Not To Do Credit Restoration Yourself is explained all about the OSCAR system, no, not the Hollywood Oscars. This system is used by the credit reporting agencies to essentially blow you off, whenever you try to challenge an item on your credit report.

I put forward the following Credit Restoration Free Report for your better education in this area.

If you enjoyed this article please please do subscribe to our FREE Credit Counseling Newsletter by simply leaving your email address.

If you need help with getting out of debt, please feel free to call me directly using the information below. I would be happy to help you.

Written By:
Steven Ciantro
Certified Credit Counselor
American Debt Enders
877-766-2465
help@americandebtenders.com

Best Reasons Not To Do Credit Restoration Yourself

That's right! So right now you think I am just trying to drum up business with some phoney information. You would be wrong. If you have ever tried to get items removed from your credit report, than you already know how terribly frustrating it actually can be. This, even though the FTC, puts out one of their pretty worthless publications titled: Credit Repair, Do It Yourself. Yes, I would like you to read it, just to educate yourself.

Here is the real reason why you should not do it yourself. It is something called "OSCAR" or "OCR" meaning Optical Character Recognition. It is your worst enemy if you are trying to raise your credit score. This technology allows the Credit Bureaus to electronically read over 20,000 dispute letters per hour even if they are handwritten! More importantly, the O.C.R. System can store every letter it scans into a database which contains thousands of already formatted letters which people use when they think they are cleverly disputing negative items. This way the Credit Bureaus can "weed out" any pre-written or template dispute letters used by credit repair companies or copied by you out of Credit Repair Book or Software Program. Because of Oscar the last thing you want to send to a Credit Bureau is a letter that's been mailed to them by thousands of other people before you.

OSCAR will scan your letter in some overseas processing center and send back to you a pre fab letter which may simply say that your item has been verified. Did anyone do any verification? No. Is this illegal? Yes. But, they get away with it. This is a huge business. By the way, the FTC Pamphlet I asked you to read earlier in this article, does not make reference to OSCAR.

In case you were thinking of sending a dispute letter threatening the credit bureau with FTC complaints, and on and on, do not waste your time. OSCAR will simply weed out the letter and ignore the threat.

Are you getting the message. Unless you are disputing one single item, then I strongly advise you to leave credit restoration to the professionals.

After being involved with many credit restoration companies, I can tell you that the best and most reasonable priced is Best Credit Restoration. 99.00 dollars to get you started, and 59.00 dollars per month with no contract. You can also call 888-586-2661 to speak with a credit restoration specialist. It simply works.

If you enjoyed this article, please feel free to subscribe to our Free Credit Counseling Newsletter.

Written By:
Steven Ciantro
American Debt Enders
Certified Credit Counselor
help@americandebtenders.com
877-766-2465

Read Free Credit Restoration Report, Before You Hire A Company

Literally hundreds, if not thousands of credit restoration companies are operating in the United States. Many of them doing a good job of raising credit scores and many of them not. Just as important, many of them grossly over charging for their services.

One of the criteria that should be used when evaluating any company offering credit counseling, should be their willingness to provide educational information at no charge. In other the company needs to be involved in more than sales. Education and credit counseling are at the heart of becoming self empowered to achieve any type of debt help, and have the consumer become self empowered. That includes companies providing credit restoration services.

With this in mind, American Debt Enders has made available at absolutely no charge a credit repair report offering a wealth of valuable information whether you purchase the service or not. We have affiliated with Lexington Law Firm which has provided credit repair services for over 20 years. To get the free report simply visit Credit Restoration Report and click on the banner. You do not have to provide any information whatsoever to get the free report. This report is very extensive and contains thorough information about removal of negative items from credit reports, including removal of public record items such as bankruptcies. Yes, it is possible to have a bankruptcy removed from your credit report. You will read all about it, in the free report.

So, if you have been locked out of the credit markets, due to bad credit because of a past problem, you would be foolish not to at least take advantage of the free report, and at least assess for yourself whether you want to speak with a credit counselor to enter the credit restoration program.

If you would like to subscribe to this newsletter simply click on the FREE Credit Counseling newsletter and leave your email address. The newsletter is free and no one will contact you, and your information is never shared.

Written By:
Steven Ciantro
Certified Credit Counselor
American Debt Enders
877-766-2465
help@americandebtenders.com

American Debt Enders Says New Credit Score To Track You More Closely

In just a few months, your banker will know more about you than your wife! This is not speculation, or wild imaginings, just a simple fact. According to a NY Times article from 12/06/11, entitled, "A Credit Score That Tracks You More Closely", A company called CorLogic has teamed with FICO company, the originators of the FICO credit score now in such wide use to provide much more information on a credit report than is currently available.

What Information? How about things like Payday loans, furniture rental records, utility bill payment history, any and all types of bills that have not been paid in a timely fashion, like a Hotel Bill, etc. CoreLogic has long been in the information business. This is just an expansion of their business, since they are already supplying information on about 100 million consumers. The difference is that this will now be routinely expanded to be a part of your routine credit scoring model, used by all types of lending institutions, not to mention employers.

Fico company is tweaking their proprietary credit scoring formula to accommodate the new data on a routine basis. The present scoring formula will no longer be used.

Should you be concerned? I would say definitely. Are some of these matters really anyone's business? Think about this. It's a cold winter, and ordinarily you pay your utility bill right on time, however, because it has been so cold, this winter you had a few late payments because the price of energy was higher. How is this going to effect your ability to borrow money now? It is going to be one more thing that you have to explain to a lending institution.

Are you seeing what is happening here? Imagine what will be involved in now trying to correct errors on your credit report. This new report will be scouring records of all kinds, to include on your credit report.

I would recommend making sure that your current credit report is free of any errors now, because things are about to get more tightly controlled. That being said, if you have items which need correction, and Credit Restoration, you will want to correct them now.

Click on the previous link or visit our FREE Credit Counseling. and if you enjoyed this article, please feel to subscribe to this FREE newsletter.

Written By
Steven Ciantro
Certified Credit Counselor
American Debt Enders
877-766-2465
Help@americandebtenders.com

Credit Restoration With This one two Punch

So just how long do you think it takes to raise a credit score? If you listen to all the talking heads, 7 years? or perhaps 10 years? I say How about one year, or less.

Here is how to do a rapid Credit Restoration. First, you need a reputable company, with a heavy track record of having unverified data, including late payments, charge offs, and yes sometimes even bankruptcies removed from your credit report legally. Oh you didn't know that could be done? Well that is due to the fact that you have been listening to the wrong people. I assure you that it can be done. Here is a company that in my opinion is the best in the country at doing it CREDIT RESTORATION WITH LEXINGTON LAW FIRM. For 99.00 dollars down, and 59.00 dollars per month with no contract, you will be well on your way to a higher credit score.

So that was step one, here is step two: There is now an awesome PRE PAID CREDIT CARD from 1st Bank of California, which will report to all 3 credit bureaus, thats, Trans Union, Equifax, and Experian, any recurring bill you pay with it. That includes utility bills, cable bill, cell phones and on and on. This will place a new on time tradeline on your credit report for each bill you pay using it. Awesome. The cost of the card is 29.95 and is directly available at Pre Paid Credit Card

There you have it. The unbeatable, raise your credit score one two punch.

Written By
Steven Ciantro
American Debt Enders
Certified Credit Counselor
help@americandebtenders.com
877-766-2465

Does It Make Sense To Put A Consumer Statement On My Credit Report?

As people, we always want to tell our side of the story. It seems that this is just human nature. It does not matter what the issue is, if we believe someone has misrepresented us we feel compelled to say something about it, rather than simplyletting the facts speak for themselves. Of course this same tendency exists when it comes to Credit Restoration or trying to clean up a credit score.

The best advice I can give you regarding consumer statements on credit reports, is to avoid the urge to do so, at all costs. It will accomplish nothing good. It is common knowledge that the error rate on credit reports can be as high as 70%. Placing a consumer statement on the report next to a late payment is like an admission of guilt, before any one asked. Like this: Oh yes, I was late on that payment because....

When lenders look at your credit report to evaluate you for credit worthiness the first most important things are your credit scores. These reflect your debt to income ratio, and everything else they need to know. You putting out there your side of the story, is not going to help anything, and may in fact hurt. Again, why call attention to a potential issue. If the lender sees it as a potential problem, he or she will ask you about it.

Here is another good reason not to place consumer statements on your credit report. They remain on the report for 10 years. Suppose you hired credit repair lawyers to get a particular debt validated, and the credit bureaus failed to validate it, so it was removed. If this event happened in the 3rd year, now you will still have your admission of guilt, by way of the consumer statement that you placed on the report remaining. Now someone can ask you about the issue. You will have opened the door.

So, if you need fix your credit score hire a competent FTC compliant credit restoration company.

If you enjoyed this article and are not already a Newsletter Subscriber, please visit:Free Credit Counseling Newsletter, and simply leave your email address. Also, do feel free to leave a comment, or contact the author with a question. We never share your information.

Written By:
Steven Ciantro
Cerdtified Credit Counselor
American Debt Enders
help@americandebtenders.com
877-766-2465

Free Credit Counseling-CREDIT-INTRODUCING The New Debt Card That Raises Your Credit Score!

In previous articles I have written about PRBC, and Credit and ways to increase your credit score that do not involve tons of effort. Well, if you need credit and need to raise your credit score, this is your lucky day!

Please let me introduce you to the new Vista Pre paid debit card If you are sick and tired of being turned down for credit then this card may well change everything for you, and quickly. The card reports to all 3 major credit bureaus, as you use it to pay any recurring monthly expenses. Like, your cable bill, cell phone bill, utilities, and on and on. As long as the payment is recurring, it gets reported. So how long does it take to get reported? How about after the first month.

So, what does this mean? It means for the first time ever, consumers can start to control their own destiny, in terms of their credit score. PRBC was good, but this is far more effective, and much faster! You will now be able to create virtually unlimited trade lines on your credit report, with on time payments rapidly. These new trade lines account for 35% of your credit score. So, yes, you can significantly enhance your credit score by just using this card. This is a dream come true for many consumers.

The price of the card 29.95, yes, that's it! So, what are you waiting for. If you need credit order the card by visiting: ORDER PRE PAID CREDIT CARD.

If you enjoyed this article please feel free to pass it on, and if you are not already a subscriber to this newsletter, and would like to become one, please visit: FREE Credit Counseling Newsletter, and leave your email address. We never share your information with anyone.

If you need Debt Settlements or Credit Card Consolidation please do feel free to call or visit us.

Written By:
Steven Ciantro
Certified Credit Counselor
American Debt Enders
mailto:help@americandebtenders.com

Free Credit Counseling-Make Debt Settlements And Improve Credit At Same Time With This!

One of the big knocks against entering any Debt Settlements program is the fact that the creditors do not immediately get paid. Of course, usually people entering debt settlements are already in default, and have damaged credit. However, putting this aside for the moment their is actually a way to start to improve your credit while entering a debt settlements program.

Yes, that is correct, and up until now, has really not been possible. So exactly, how is this possible you ask. Their is a brand new Pre paid credit card available at PRE PAID CREDIT CARD that actually reports payments to the credit bureaus! WOW! So exactly what payments? Any payment that repeats on a monthly basis, such as, cable bill, utility bill, phone bill, etc. So has the light gone on yet? What this means is that every one of these repeating payments creates it's own new trade line on your credit report, so using it to make the monthly no-fee debt settlements program payments, is creating an additional very powerful trade line on your credit report, while your settlement program is progressing.

Of course, you should also use the card while paying your other recurring monthly bills, for maximum effect. To the best of my knowledge, this is the first time something this powerful has been available. The card is not expensive, and well worth every penny.

If you are interested in learning more, please feel free to contact: FREE CREDIT COUNSELING, and speak to a counselor.

If you enjoyed this article and are not currently a subscriber to this FREE Credit Counseling Newsletter, simply visit the previous link and leave your email address. We never share your information..

Written By:
Steven Ciantro
Certified Credit Counselor
American Debt Enders
Help@americandebtenders.com
877-766-2465