info - Credit Repair

Article : Kenneth Harney: Be wary of credit repair services

2008-07-06T03:50:00.000-07:00

By Kenneth R. Harney
Washington Post

Article Launched: 06/08/2008 01:35:10 AM PDT

Picture this: You're eager to take advantage of today's troubled real estate market and buy a foreclosed house at a fire-sale price.

The problem is you don't have much money for a down payment. And your credit files are scuffed up with late payments.

What you need is a service that can help put it all together for you - linking you into lists of available foreclosures, credit repair, and even low-down-payment mortgage financing.

Companies that promise to do at least some of these things - especially to fix your credit - ply their wares aggressively on the Internet. But can they really do what they claim to? Based on a recent settlement by the Federal Trade Commission, the only conclusion is: If the deal involves paying money upfront, don't do it. ...

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Article : Credit Repair Services - 3 Things To Avoid With Credit Repair Companies

2008-04-02T03:26:00.000-07:00

Submitted By: L. Sampson

If you're thinking about applying for a loan or a credit card in the future, you may want to check your credit report and credit score. And if you have a few black marks, there are credit repair companies that can help you boost your score and fix any negative marks. To make sure you choose a reputable credit repair company, watch out for these warning signs:

Quick fixes

"Your credit will be repaired in one week!" "It takes just three days to improve your credit score by 100 points!" Promises like this are just scam artists trying to get your business so they can take your money and run. In general, it'll take a legitimate credit repair company at least a month to make any changes to your credit report. That's because they usually have to contact the creditor and the credit reporting agency--and paperwork takes time. In fact, chances are you won't see a major difference in your credit score for about two or three months.

A New Identity

"We'll get you a new social security number." "Your old credit history will be erased." These types of scam artists plan to get you an Employee Identification Number (EIN). An EIN resembles a social security number, but it's used by businesses to report financial information. Applying for an EIN and using it as your personal social security number is illegal, but these scam credit repair companies will encourage you to do it to "wipe the slate clean." Be wary of anyone who says they'll get you a new identity or new social security number.

Big Fees

"We need a $50 deposit before we review your paperwork." "Our initial consultation fee is $100." Some scammers simply charge you money at the very beginning--before they even look at your paperwork--and then you never hear from them again. Never pay anyone a dime until they've at least reviewed your situation--credit history, current employment and income, etc.--and given you an estimate of your costs.

Although you do need to be wary of scammers when looking for a credit repair company, there are many reputable businesses that can help you fix your credit history. However, before choosing a company, make sure you check them out with the Better Business Bureau and any local or state associations.

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source : http://www.isnare.com/?aid=81484&ca=Finances

Article : How To Repair Your Credit Using Credit Repair Services - Save Hundreds of Dollars In The Process

2008-04-02T03:24:00.000-07:00

Credit Repair Services are available to consumers that want to repair their own credit and eliminate high cost attorney or credit counseling services. If you have little money and more time you may want to consider using a credit repair service and repair your own credit.

Many people do not understand the American credit system. The credit system has "little credit secrets" that they do not want consumers to know about. If the credit bureaus do not intimidate you, then you might consider using a credit repair service to repair your credit.

Credit repair services offer you an understanding of how the American credit system operates. They can show you step by step how to raise your credit score and eliminate debt if you are willing to take advantage of their services.
By using these credit repair services you can improve your credit much faster and more efficiently without paying (up to) $795 for attorney fees. Utilizing these do it yourself credit repair services versus a credit counseling service also allows you to eliminate hundreds of dollars in monthly fees plus the start up fees they require.
The problem is that the attorneys and credit counseling services don't want you to know about credit repair services; they want you to believe they are the only ones that can fix your credit.

The truth is you can repair your credit yourself. During my investigations of how to repair credit I discovered how to take advantage of these credit repair services that allow you to follow a simple step by step, at home program and repair your credit twice as fast as any attorney or credit counseling service while saving hundreds.

Credit repair services are for the average person that needs to repair their credit, it might be worth while to check into these credit repair services.

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source : http://ezinearticles.com/?How-To-Repair-Your-Credit-Using
-Credit-Repair-Services---Save-Hundreds-of-Dollars-In-The-Process-&id=541380

Article : What to Do If a Bill Collector Crosses the Line

2008-04-02T03:20:00.000-07:00

Here's what to do if a bill collector uses abusive tactics.

It's stressful to be unable to pay your bills on time. It's even more stressful to hear from a bill collector about those overdue debts. Although bill collectors can be persistent (that's their job), many are careful to follow the law when contacting you. Unfortunately, some are not. If a bill collector oversteps the bounds of the law, you can take action...

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Article : Automatic Deductions: Watch Out for Pitfalls

2008-04-02T03:19:00.000-07:00

Problems you may experience with authorizing an automatic deduction.

Automatic deductions (debits) from bank accounts can be a convenient way to pay some regular bills, saving you time, checks, and postage. Nowadays people pre-authorize monthly debits for everything from mortgages, student loans, and utilities to car payments, life insurance premiums, and health club memberships. But you can get into trouble if your automatic payment goes awry...

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Article : Which Debts Must You Repay?

2008-04-02T03:17:00.000-07:00

All debts are not created equal. Learn which are most important.

Some debts are more important than others. If you are having trouble paying your bills, take the time to prioritize your debts. Make a list of essential and nonessential debts -- and always pay the essential debts first. Read on to learn which debts are essential and which aren't...

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Article : Avoiding credit repair scams

2008-03-02T16:09:00.000-08:00

Cleaning up your history could get you into bigger trouble if you get taken in. Here's how to see through a con game.

By Gerri Willis, CNN

February 18 2008: 11:53 AM EST

NEW YORK (CNNMoney.com) -- Banks are tightening their purse strings, making it harder to qualify for loans. And now the Better Business Bureau is warning that some companies are using the credit crunch to take advantage of consumers who want to clean up their credit. Here are some top tips on avoiding these scams. ...read all...

Link to a forum : Are credit repair services legit?

2008-02-11T16:32:00.000-08:00

(10 posts)
First post of this forum :

"So I just got a copy of my credit report and I have 3 charged off accounts on there from 3 years ago. I found a credit repair agency online that claims it can remove them, but are credit repair agencies legit? :confused: I am applying for a mortgage soon and I need these off ASAP."

see this forum at : http://www.destroydebt.com/forum/t/537-are-credit-repair-services-legit.html

Link to a forum : Best way to repair bad credit?

2008-02-11T16:31:00.000-08:00

Jan 2008 (7 posts)
First post of this forum :

"Short of the obvious,is anyone fimiluar with working with a specific "bad credit" repair company. I have been told they can pretty much wipe your credit clean and find that very hard to believe. I have tax leins and a discharged bankruptcy on my report and was told they can wipe that out.Very doubtful i believe, and dont want to just start throwing money out to these people with no results. Can anyone reccommend the best and safest solution in repairing my history and what actually can be removed?"

see this forum at : http://aaacreditguide.com/forums/credit-repair/5367-best-way-repair-bad-credit.html

Link to a forum : credit repair progress

2008-02-11T16:22:00.000-08:00

opened at 04-28-2007 (73 posts)
First post of this forum :

"I thought that I would start a thread just for myself to remember where I have been and where I am going on my credit repair journey. Of course, you're welcome to read it and make comments.

My credit WAS at around 720. That was in January of 2004 when I applied for my mortgage. Then life happened...

My goal is to be back to where I started. I would like to be comfortably above 700.

Here are my scores:
TransUnion
654 4/28/2007
639 1/25/2007
634 9/22/2006

Equifax
648 04/21/2007
631 2/22/2007
631 1/1/2007
608 10/27/2006

Experian
683 4/28/2007
683 2/2/2007
683 10/27/2006

WAY before I found this site, I joined a CCCS and started on a DMP. This was around July of 2005. I am one of the few lucky ones that have found a good company to deal with. They have made some odd errors but overall I'm happy. They have lowered my interest rates quite a bit and I can comfortably pay back the money that I owe.

Since being on CCCS you're technically NOT suppose to apply for new credit. Because I travel and for other budgeting reasons I have applied and received a secured card from US Bank. I'm happy with their terms. They have started reporting and that is probably the reason of my scores have popped up. However, I can't seem to make EX budge regardless of what I try.

You'll see GEMB below as well. They were left out of my CCCS agreements because I work for a company that they service.

Basically, I could get busted for this but I legitimately need another card besides my DEBIT/ATM card. I just have a feeling that CCCS and my creditors might disagree. Oh well, if they give me the boot I can handle it. I'm only down to a select few accounts. Who knows by then I could probably apply for a balance transfer. I'll keep paying down regardless. In this instance, I would rather ask for forgiveness than permission.

Ok, don't blast me for still being on a DMP with a CCCS.

Like I said they have treated me well. I know now that I could have done most of it myself. However, back then I really needed some help getting started. I know some of you will question why I am still with them. All I can say is they have worked well for us. I know now that I can do some things on my own and I am doing that now.

I've just started to actually communicate with these companies. I've sent out the following letters. I'll include what, if anything, that I have heard back.

After reading and lurking, I joined CIC and made my first post on 2007-03-13. I started sending out letters ASAP. I guess my first post kind of got me into gear.

Letters Round 1 (around 2007-03-13):
Asked the following to remove CCCS note from my CR as I have paid them off.
1) 1st Financial Bank
2) Best Buy
3) Household Bank
4) Sam's
5) Citi Bank - Shell MC

Remove late payments from around the time I was switching over to the DMP.
1) Chase
2) MBNA

GMAC - wierd late payment pattern on one of the three CR. REPO
The voluntary repo was by far my worst mistake.

Letters Round 2 (around 2007-04-14):
Chase - Letter telling them to go ahead with removing their TL because I am not the main account holder. I'll believe it when I see it...
GEMB - Asking for account reconsideration.

I got brave here. These show up as old accounts but as still open. I was asking about the status of them.
Jc Penney
Zales

TU and EX for copies of my report.

I also disputed a couple of things directly from myfico.

Letters Round 3 (around 2007-04-21):
EX asking for copy of my CR.
Shell - another older account that I was checking the status of.

I can't say that I've had perfect response from my letters. However, I don't see the CCCS on the account that have been paid off. So that's good. I'll keep waiting a bit and see if I get any other replies to my letters then I'll probably send out some others.

One wierd thing is that one account that I paid off is showing a credit of $234.00. Yeah, I called them up and asked that they send me a check. She said that I should have it within 7-10 days. I'll most likely pay down some other debt when I get it."

see this forum at : http://www.debt-consolidation-credit-repair-service.com/forums/showthread.php?s=66cdc4c365ef16ffa9f2bc5b9307729d&t=266849

News : Credit Repair Eases Home Buying

2008-02-11T16:19:00.000-08:00

Daily Real Estate News | February 7, 2008

Getting a mortgage has gotten more difficult, even for people with excellent credit. So it pays for potential buyers to examine their credit history.

Here are some smart steps to suggest potential buyers take: ... read all..

News : When is a Credit Repair Offer a Scam?

2008-02-11T16:18:00.000-08:00

2/1/2008

By the end of 2007, Americans owed more than $915 billion in credit card debt, and the credit crunch is clearly impacting consumers as lenders are becoming more choosey about who gets loans and who doesn’t. Given, stricter loan and credit requirements, Better Business Bureau (BBB) is warning that some companies are using the credit crunch to take advantage of consumers by promising bogus credit repair services that can be costly and in some cases illegal...read all..

News : Spotting Credit Repair, Counseling Scams

2008-02-11T16:16:00.000-08:00

Ray Martin On How To Avoid Getting Taken When Seeking Help

NEW YORK, Feb. 7 2008

With a perfect storm of falling housing values, rising loan defaults and a slowing economy, more folks are struggling to manage their debts, and more will turn to companies that sell credit repair and credit counseling services....read all..

Article : 5 steps to do-it-yourself credit repair

2008-02-11T16:15:00.000-08:00

By Dani Arthur • Bankrate.com

Blotches on your credit report cost you. But, don't despair. It's never too late to become credit worthy -- just get started, and remember that it won't happen overnight.

Here are 5 steps for improving your credit rating:.....read all..

Article : How to Use Credit Cards Responsibly

2008-02-11T16:13:00.000-08:00

Credit cards are very useful, when used responsibly. It seems that many people acquire a lot of debt, but don't have the means to repay the money. Poor credit decisions can lower your personal score and make it harder to finance a home or car. For this reason, it is important for everyone to develop smarter credit habits. .... read all..

Link to a forum : 2nd round of disputes, or the next mile of my journey

2008-01-05T17:47:00.000-08:00

11-25-2007 (15 posts)

First comment from this forum :

"About 8 months ago, I found this site and began my credit repair journey.

Since then, I have had 16 deletes that include 1 repo for a total of nearly $16K removed from my report.

All 3 or my fico scores have increased by over 100 points.

I have fought Cap 1 in court and won. (finally getting them off my reports).

Yet, there are quite a few left, including several that slipped in while I was first learning the ropes here.

Today, I sent off (online) my second round of disputes.

With EQ I disputed:
5 items as "not mine"
1 item as "never paid late"

With EX I disputed:
4 items as "not mine"
2 items as "never paid late"
1 item as "obsolete"

With TU (they are going to crucify me, either with a Fraud alert of frivilous activity) I disputed:
9 items as "not mine"
2 as "obsolete"
2 as "never paid late"

There are 3 OC's that I plan to mail dispute letters to this week, I am working on them now. I have disputed with the CRAs all three items and they came back as verified.

I will come back to this post and update as things begin to happen, even if they are not good things.

Wish me luck!"

see this forum at : http://www.debt-consolidation-credit-repair-service.com/forums/showthread.php?t=277880

Link to a forum : Bumpage *b and truecredit

2008-01-05T17:40:00.000-08:00

01-06-2006 (54 posts)

First comment from this forum :

"there has been tons of questions lately about bumpage also known as *b. so here it is in a nutshell..... first of all, this is somewhat of a secret or glich and we dont want to talk a whole lot about it in every thread.
if you subscribe to daily credit pulls through truecredit and you pull your credit reports everyday..(this is known as soft pulls) after a while (takes about 3 months on average) the soft pulls will bump off the hard inquiries made to your credit reports. this only works on your TransUnion and Equifax reports. There is no ryme or reason as to when you will get this or to the extent it will work on equifax. there is only so much storage at these two CRA's for inquiries... so the softs eventually bump off the creditor hard inquiries. you will need to pull every day.. and do the update your credit reports and scores button on the site under credit reports tab. on the right side of the page near the bottom... it says update your reports and scores now. hit that to do the pull. this only works every 24 hours... not a minute sooner. creditors will never see your soft pulls... only you will see them when you get your reports. soft inquiries do not affect your scores.. just hard pulls which stay on for 2 years. hard inquiries from creditors cost you on an average of 7 points each for the first 6 months showing.. between 6 months and 1 year they cost you very few points... after 1 year they dont cost you any points... just look bad. but they do stay on your reports for 2 years. so, subscribe to truecredit for daily pulls and pull every day to receive bumpage. i think the site is truecredit.com and is offered by TransUnion. It may cost you like $29.95 or $39.95 to start your subscription. after that it is $9.95 per month for this service.. but i have heard that it went up to $14.95 in anycase if inquiries are a problem for you this is the way to go... and if you are going to pay for a monitoring sevice... you may as well get some benefit.. so we suggest this one. all questions regarding bumpage should be directed to this thread in the future.

"

see this forum at : http://www.credit-repair-forums.com/thread1086.html

Link to a forum : I am a newbie if someone could clarify for me.

2007-12-24T06:33:00.000-08:00

First comment from this forum :

23-12-2007 (>10 posts)

"I received a phonecall this week from Portfolio Recovery Assoc. and they were trying to remind me of a debt that I owe from 17 (seventeen years ago) they wanted to know what kind of arrangements I wanted to make in order to pay them the amount they said that I owe. I was very brave because I know my rights. I said NONE. I told them that has passed the SOL many times over and that they could be sued for trying to collect a debt after the SOL. Am I correct and what should be the next step if any? I did look at the combo letter in the first newbie Sticky.

Best,

Rob"

see this forum at : http://www.debt-consolidation-credit-repair-service.com/forums/showthread.php?t=279252

Link to a forum : Newbie Denied by Hooters

2007-12-13T11:49:00.000-08:00

First comment from this forum :

12-11-2007 (21 posts)

"I am trying to rebuild my credit to buy a home in 6 months. It doesn't look like it is working! Hooters just denied me.

Good Credit:

I have two credit cards with low balance to limit ratio (9 and 6 month perfect history), and an auto loan (12 month perfect history).

Bad Credit:

2 student loans in default reporting to all 3 CRA's. Any suggestions on a rehab program? They want 20% down and 9 months to report to CRA's.

1 collection with Experian that is paid.
1 collection with Equifax that is paid. 1 student loan duplicate.

Can anyone suggest a reputable service to use? I don't stay on top of it.

Your Latest FICO® Scores
TransUnion
558 Date: 12/10/2007
Equifax
599 Date: 12/10/2007
Experian
485 Date: 12/10/2007

Thanks"

see this forum at : http://www.debt-consolidation-credit-repair-service.com/forums/showthread.php?t=278733

Link to a forum : Does anyone else agree???

2007-12-05T10:43:00.000-08:00

First comment from this forum :
09-10-2007 (151 posts)
"

... That waiting for the results of a dispute is excruciating & painfull.

2010 is toooooo far away
"

see this forum at : http://www.debt-consolidation-credit-repair-service.com/forums/showthread.php?t=274193

Link to a forum : Where to begin

2007-12-05T10:35:00.000-08:00

First comment from this forum :

08-13-2007 (11 posts)

"This is my first time posting and I need some advice as to how to start repairing my credit. What I would like to do is remove as much as possible. I've been reading about all these different types of letters and steps to take. I already have my credit report, and there are about 10 things I would like removed. I have:

-2 charge off's, which are both store credit cards for about $100 each, which were opened in 2001 or 2002 and havent been used/payed for at least 2 years

-3 credit cards for between $500-$1500 each, which also haven't been used/payed for a couple years

-a bunch of cell phone bills that have been turned over to creditors

I was also reading about deleting old addresses, which I would like more info about. My store credit cards were both opened at a super old adress from about 5 years ago, and I could probably disute everything from that address.

Someone please tell me where to begin!
(if you have the time for an e-mail, that would be the best way to respond, or aim or yahoo messenger)
Thanks everyone!"

see this forum at : http://www.credit-repair-forums.com/thread4387.html

Below are the most searched keywords,about 'credit repair',in the internet (datas of 2007)

2007-11-25T08:58:00.000-08:00

Search

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3822

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2257

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2253

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1268

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1187

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1006

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source : http://www.zirve100.net/incele.php

Link to a forum : PRIMER on credit repair.

2007-11-17T04:31:00.000-08:00

First comment from this forum :

"Originally Posted by Divemedic

Revised PRIMER on Repairing Credit

--------------------------------------------------------------------------------

I am writing this as a guide to how I cleaned negatives from my credit report. There was an earlier version of this thread, but I have since learned a few things about the repair process, and I decided to rewrite this guide. I also hope to correct some misconceptions about the validation process.

This entire process is designed to prepare a case to take the CA and/or OC to court. If the CA or OC goes away before you get to the point of a lawsuit, GREAT! However, that is sometimes not the case.

Let me start by telling you some history. I started in credit repair by doing what so many of you have already tried: Paying them. I discovered what you may already know: PAYING A CA IS THE WORST THING YOU CAN DO. I got a pair of paid collections for my trouble. I decided then and there to figure out how to do this. Since, I have taken on a combined total of 30 CA’s and OC’s. Cell phone companies, landlords, a couple of banks, and some CA’s. I had to sue 8 of them. I have settled out of court in every case, and to date I have received nearly $10,000 in settlements. My credit score when I started was 557, and it is now in the 760 range. You can do that, as well.

The first thing you must do, is you need to obtain a copy of your credit report from all 3 agencies. A 3 in 1 report doesn’t cut it. There is much more detail to be found in the individual reports. Go ahead and spend the $30 or so. It is worth it. Save copies of the reports, you will need them.

Next, dispute all of the negative TL’s on your report. The older ones usually will come off the easiest. I got 4-5 deletions that way. This was effective on about 20% of my accounts. This will take 30 days or so for the investigation to complete. You can dispute over the phone, because I don’t feel like suing the CRA is the best way to go. If you aren’t going to sue them, you don’t need the documentation that goes with CMRRR. Suing CRA’s and getting tough with them may work for others, but I have had better luck dealing with the CA’s and OC’s.

Next, after the initial investigations are complete, look at the now verified tradelines. Are there any discrepancies? Do they all agree with each other? Or does your EX report show a $100 charge off, while your EQ shows a $110? If any do not match, that is good for you. The FCRA requires that all tradelines be “complete and accurate” and how can they be accurate, if they don’t even match each other? Legal leverage, to be used later.

Now, you will DV all of the remaining CA’s and send dispute letters to the OC’s. You can take your time and eliminate them in manageable groups. However many you have the time and money for, whether it is 3 or 10 at a time. The way to do this is simple. You just send them a letter telling them that you dispute. That is it, no special wording or anything is needed. In fact, I am now advising you to stay away from the sample “form” letters that so many are sending- the CA’s are on to them.

Just remember that my suggestion applies to calling CRA's. It does NOT apply to calling a CA. I never call them, until I have all I need to sue and I am ready to file. Then I make an ITS call to the owner or manager. Calling a CA does little good and can cause much harm. The reason is that they will seldom delete, and can sometimes trick you into violations of your own. If they screw up on the phone, you have no proof (unless you are in a one party state-which I am not), so I keep all communication with them in writing."

see this forum at : http://www.debt-consolidation-credit-repair-service.com/forums/showthread.php?t=276514

Link to a forum : What to do?

2007-11-10T12:35:00.000-08:00

First comment from this forum :

" I am planning on building a home in the near DECADE!! Actually, sooner than that, but I can't seem to get these monkeys off my back. I need a credit card Hero to lend me a few tips in disputing two credit cards and maybe, if possible, getting them dropped. Is it possible? I will be more than glad to put more than 100% of the effort if this will work, or I may never begin to build a new home. I heard that it is a lot of paperork, but at this point (paying 29% interest on $9,000) I'll do whatever it takes!! HELP ME please!"

see this forum at : http://www.credit-repair-forums.com/thread4360.html

Link to a forum : What We've Learned!

2007-11-06T09:46:00.000-08:00

First comment from this forum :

"Since the time I began my personal credit repair process and joined these forums; these are some of the key things I have learned:

please contribute by posting a summary of anything useful you have learned

1. A satisfied judgment does not remove it from your credit report by law (that’s not to say you can not get lucky and still get it deleted) satisfied or released judgments simply mean that they are paid.

2. It seems as though the 3 credit reporting companies may treat people slightly differently according to geographical location *(may have to do with specific state laws, etc.)* still learning about this but it seems to be a factor worth mention.

3. FAKO scores are the fake/generic scores for your credit report, FICO (Fair Isaac & Company) scores are a standardized scoring system, more like the real score a potential lender would see. (there are different FICO scoring models, its hard to know which one different lenders use) in short a FICO should be much closer than any FAKO in helping us to know our credit score.

4. You cannot order FICO scores from http://www.myfico.com with a fraud alert on your credit reports.

5. You can order a FICO score directly from either TransUnion @ https://www.transunioncs.com/ and from Equifax @ https://www.econsumer.equifax.com/co...ard=cps_detail You cannot get a FICO score for Experian that I know of except through myfico.com

6. You can report yourself to a bureau, be careful not to accidentally dispute an item from one reporting company with a different company who does not report the item, it may be added to your report as a result of accidental disputing with the wrong company.

7. People will help you here if you ask for it, they may not catch your questions immediately or the first time, you can ask more than once if needed, or private message someone.

8. There is an abundance of useful information here, try searching for company names, topics, and such you may find an answer or useful information that way.

http://www.creditinfocenter.com/repair/

I'm changing my sig after this post. G/L everyone and thanks. "

see this forum at : http://www.debt-consolidation-credit-repair-service.com/forums/showthread.php?t=236766

Link to a forum : Credit Repair - Do it yourself Site

2007-11-06T09:43:00.000-08:00

First comment from this forum :

"Hello,

I'm new to the Kiplinger forum. As a credit repair specialist, I hope I can add value to this particular forum over time with some suggestions, as well as answer questions you may have about how to protect and improve your credit score.

In the meantime, check out
if you need some credit repair ideas.

You can also get a free credit report here, get free form letters, etc.

Thanks,
Charles"

see this forum at : http://forums.kiplinger.com/showthread.php?t=3671

Article : Myths on Home Buying

2007-11-01T07:32:00.000-07:00

The real estate market can be complicated. Lending companies, brokers, agents are all working hard to stay on top of the competition. They may not always look out the best interest of consumers. For instance, agents get their income from commissions on the deals they successfully close. Naturally, agents may not always look for the best interest of consumers.

If you are a home seller or a home buyer, hiring an agent to work for you may help you get better deals. However, it is your duty to protect yourself against unfair treatment. Knowing the basic things about the home buying or home selling business will shield you from getting scammed or swindled.

Let’s talk about some false notions that many people believe but are just plain myths. You may have heard about it from a friend or an acquaintance and believed it to be true. Check out the following myths in the world of real estate, and be properly informed about the truth.

MYTH #1 If you have a damaging record in your credit history such as a record of foreclosure or bankruptcy, you will never again qualify for a mortgage.

Definitely just a myth. Even if you have a record of foreclosure or bankruptcy in the past, you can still get a mortgage. If the foreclosure or bankruptcy has been filed recently, you may have to wait some time to rebuild your credit. Two years should be enough to make improvements on your credit rating and qualify you for a mortgage. Just be sure that in those two years, you have not missed or delayed any payment in any of your creditors.

MYTH #2 If you want to purchase a home, you will need a 25% down payment.

If you have a poor credit, you would need at least 5%-10% down payment ready to buy a home. Although a 25% down payment can lower your loan interest, it is not really necessary even if you have a poor credit history.

MYTH #3 Hiring more agents will help you find a house more quickly.
On the contrary, if you hire several agents, they may not give as much effort in finding you a good deal. Just make sure that you’ll hire one legitimate and reputable agent who will represent you and you’ll be fine.

MYTH #4 If you’re going to sell your property, you should first find a new home.
Not true. Finding a buyer for your property first will give you more edge on your search for your new home.

MYTH #5 The best real estate agent is the one who handles the most number of listings.
Just because an agent holds several listings guarantees you’ll get the best service. In some cases, these agents are too busy handling too many listings that they don’t have time for other clients. If you can find a legitimate agent who handles fewer clients, then you’re better off with one who can give you more time and effort.

About the Author

Liz Roberts is a freelance writer and loan consultant. The website http://www.badcreditresources.com offers resources that specialize in providing bad credit loans and bad credit cards to people with bad credit.

source : http://www.badcreditresources.com/articles/Myths-on-Home-Buying

Article : Credit Repair and Credit Clinics

2007-11-01T07:30:00.000-07:00

Many people are deceived by promises of quick and easy credit repair. Various credit clinics and credit repair services will offer to clear your credit record of any negative information for a fee. In many cases, these businesses take your money and do little or nothing to improve your credit report.

The fact is, no one can erase, fix, repair, or change information contained in your credit report if that information is correct. Credit bureaus can legally report accurate negative information for seven years and bankruptcy information for ten years. Accurate items that are within the seven or ten year reporting period cannot be erased from your credit report by companies offering "credit repair" services.

If you have a poor credit history, even if your problems were caused by illness or job loss, the only thing that will "repair" your credit report is time.

If there are genuine mistakes or outdated items in your report, you can fix them yourself. Notify the credit bureau of the problem and provide as much information about the error as possible. The bureau must, at not cost to you, investigate the disputed information. The bureau then will correct any mistakes or delete information that cannot be verified.

You also have an option to include with your credit report, a written statement of up to 100 words. In your own words, explain any negative information in your report.

source : http://www.moneymanagement.org/Education/OnlineArticles/repair.asp

Lenders move to stop credit repair schemes

2007-10-24T07:21:00.000-07:00

Shaky borrowers pay cash to piggyback on acounts with good scores

Updated: 5:06 p.m. ET June 3, 2007

Only a low credit score stood between Alipio Estruch and a mortgage to buy a $449,000 Spanish-style house in Weston, Fla., a few miles west of Fort Lauderdale.

Instead of spending several years repairing his credit rating, which he said was marred by two forgotten cell phone bills and identity theft, the 37-year-old real estate agent paid $1,800 to an Internet-based company to bump up his score almost overnight.

The result was a happy ending for Estruch, but the growing practice is sending shivers through the mortgage industry. Federal regulators are also reviewing the practice. And after being contacted by The Associated Press for this story, Fair Isaac Corp., the developer of the widely used FICO score, said it will change its credit scoring system beginning later this year in a way it contends will end this little-known but potentially high-impact mortgage loan loophole.

...click heree to read all.

source : msnbc.msn.com

Your credit history and your student loan

2007-10-24T07:19:00.000-07:00

Why it's important
Bad credit can affect many parts of your life, but it shouldn't keep you from getting an education. As long as you haven't stopped paying on a previous student loan, you can still get the financial help you need to go to school.

By Brigitte Yuille • Bankrate.com

Students can borrow using federally subsidized loans or private loans.

Federally subsidized loans assume the student hasn't established a credit history when applying for school aid, so history is not considered.

This isn't true of a private loan or a federal Parent Loan for Undergraduate Students, also known as a PLUS loan.

...click here to read all
source : bankrate.com

Below are the most searched keywords,about 'credit repair',in the internet (datas of September 2007)

2007-10-19T09:53:00.000-07:00

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source : http://www.zirve100.net/incele.php

Below are the most searched keywords,about 'credit repair',at yahoo search(datas of October 2007)

2007-10-19T09:50:00.000-07:00

( click to search the keywords in yahoo )

source : http://search.yahoo.com/search

info - Credit Repair

Article : Kenneth Harney: Be wary of credit repair services

Article : Credit Repair Services - 3 Things To Avoid With Credit Repair Companies

Article : How To Repair Your Credit Using Credit Repair Services - Save Hundreds of Dollars In The Process

Article : What to Do If a Bill Collector Crosses the Line

Article : Automatic Deductions: Watch Out for Pitfalls

Article : Which Debts Must You Repay?

Article : Avoiding credit repair scams

Link to a forum : Are credit repair services legit?

Link to a forum : Best way to repair bad credit?

Link to a forum : credit repair progress

News : Credit Repair Eases Home Buying

News : When is a Credit Repair Offer a Scam?

News : Spotting Credit Repair, Counseling Scams

Ray Martin On How To Avoid Getting Taken When Seeking Help

Article : 5 steps to do-it-yourself credit repair

Article : How to Use Credit Cards Responsibly

Introduction

Link to a forum : 2nd round of disputes, or the next mile of my journey

Link to a forum : Bumpage *b and truecredit

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Link to a forum : Newbie Denied by Hooters

Link to a forum : Does anyone else agree???

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Link to a forum : PRIMER on credit repair.

Link to a forum : What to do?

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Article : Myths on Home Buying

Article : Credit Repair and Credit Clinics

Lenders move to stop credit repair schemes

Shaky borrowers pay cash to piggyback on acounts with good scores

Your credit history and your student loan

Below are the most searched keywords,about 'credit repair',in the internet (datas of September 2007)

Below are the most searched keywords,about 'credit repair',at yahoo search(datas of October 2007)