Hello-
You know that you need to pay down your debt to improve your credit score. You know that you need to pay more than the minimum on your payments each month or you’ll be paying on them for years and years.
You know all this. The only problem is you may not have the money.You’re working 50, 60, 70, maybe even 80 hours a week and you’re still living paycheck to paycheck. There is no light at the end of the tunnel that you can see.
You need to make more money with less effort.
How would you like to be able to earn up to $400.00 a day simply taking pictures with your digital camera and uploading them? Would that change your life and make it a little easier? Would you be able to pay off some bills?
Make money taking pictures
If you’re interested in learning about how you can do this even if you have no prior experience and take advantage of this opportunity that can potentially earn you up to $400.00 a day then
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-Adam
technorati tags:make+money+taking+pictures, make+money+uploading+photos, make+money+with+a+digital+camera
Written by Adam on January 30th, 2007 with no comments.
Read more articles on Credit Repair and Credit Score and Credit Score Tips and Improve Credit Score and Pay Your Bills and Personal Finance.
Cosigning on a loan can hurt your credit score
Co-signing for a loan can gut your finances and sink your credit.
What’s one of the fastest ways to wreck your credit score?
Co-sign for a loan or a lease.
Karen Laubinger discovered that the hard way after co-signing a lease for a house for her 27-year-old son and his family.
An unpaid bill from the landlord for $3,000 in repairs eventually went to Karen, and legal papers were served at her workplace — where she happens to be a credit counselor.
“I’ve been telling clients forever not to co-sign for a loan,” says Karen, who lives in Phoenix.
“Now I couldn’t co-sign for a $2 bill.”
“Anytime you co-sign, assume you might have to pay off the loan,” says Mike Sullivan, director of education at Take Charge America, a credit-counseling agency.
A default can destroy your credit, and even a late payment can show up on your credit report.
“The status of the account is reported for each individual associated with the account,” says Maxine Sweet, of the credit bureau Experian.
Lenders might notify co-signers in advance and give them the opportunity to pay up, but don’t count on it.
Co-signing also increases your outstanding debt, says Sweet, which can make it tougher for you to qualify for a loan even if the borrower makes prompt payments.
Or the balance could bring you close to your own credit limit.
Once you’re on record as a co-signer, you usually can’t get off the hook as long as the loan remains outstanding.
If you’re asked to be a co-signer, “think like a lender,” recommends Pamela Rooney, director of retail credit products for Wachovia.
“Ask yourself whether the borrower has the wherewithal to repay.”
If you still feel obliged to help out, at least take steps to protect yourself.
For example, study the loan terms and notification rules before signing on.
Laubinger wishes she had gone on the walk-through with her son because she believes most of the damage her son was billed for happened before he moved in.
Sweet recommends that you require the borrower to provide proof of payment each month or give you online access so that you can check the status yourself.
As soon as the borrower’s credit improves, have the borrower apply to refinance the loan or get a new credit card on his or her own.
| Are You on the Hook?
Kiplinger.com, DC - 6 hours ago
What’s one of the fastest ways to wreck your credit score? Co-sign for a loan or a lease. Karen Laubinger discovered that the hard way after co-signing a … |
technorati tags:cosigning+and+credit+scores, loan+cosigner+and+credit+scores
Written by Adam on January 19th, 2007 with no comments.
Read more articles on Credit Score and Credit Score Tips and FICO Score and Personal Finance.
Why you should check your credit report and credit score
With the new year finally upon us, it’s time to get started on all those resolutions.
And if you’ve resolved to become more financially secure, it’s time to get your credit report.
Your credit report is far more than a piece of paper, financial experts say.
Not only is it used by lenders and creditors, it’s also looked at by landlords, insurance agents — even potential employers — as a sign of your personal worth and responsibility.
“Your credit report and how you handle your financial obligations provide an important glimpse into your character,” said Greg McBride, a senior financial analyst at Bankrate.com.
But what do you do when your credit report isn’t you?
Depending who you ask, 25 percent to 70 percent of credit reports contain errors ranging from minor misspellings to serious mistakes like having someone else’s accounts on your report.
Oftentimes, consumers don’t find out about these errors until they apply for a loan or a credit card.
“Too often consumers think, ‘I don’t have a problem on my credit report, I pay my bills on time,’ ” said consumer advocate Denise Richardson.
“It could happen to anyone because of someone else’s mistake.”
Richardson knows firsthand how debilitating credit report errors can be — and how difficult they are to clean up.
She said she has spent the better part of the last 15 years trying to remove damaging errors placed in her report by creditors.
She said she didn’t find out about them until she applied for loans and was rejected.
If you know what’s in your credit report, you can fight it,” said Richardson, a Florida resident and author of “Give Me Back My Credit!”
Under the Fair and Accurate Credit Transactions Act, people are entitled once a year to a free copy of their credit report from each of the three major reporting agencies, TransUnion, Equifax and Experian.
It’s more [important] than your grades in college, your grades in high school.
It’s really your report card for life,” said Joy Franklin.
She’s executive vice president and chief operating officer of the American Credit Alliance, a nonprofit credit counseling agency in Morrisville.
Franklin said anyone planning a big purchase like a house or a car should pay the extra money to get their credit score, which isn’t included in the free report.
A credit score — often called FICO after its developer, the Fair Isaac Corp. — determines your creditworthiness.
If the score is high, you have extra bargaining power with a lender, she said.
Common mistakes that damage credit are applying too often for credit and carrying credit card balances that are more than 50 percent of your credit line, Franklin said.
Having too many credit inquiries on your report will also lower your credit score.
And having too much debt makes you a liability, Franklin said.
Be upfront with lenders about past credit problems, she said.
“Don’t let the lender be surprised,” Franklin said.
If you find an error on your credit report, write to the credit agency where the mistake appears.
Keep track of when you notified the agency, and send correspondence by certified mail.
“The dispute process is for removing inaccurate or incorrect information, not information you don’t like, if it happens to be true,” he said.
| Why you should check your credit
phillyBurbs.com, PA - Jan 7, 2007
Franklin said anyone planning a big purchase like a house or a car should pay the extra money to get their credit score, which isn’t included in the free … |
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Written by Adam on January 9th, 2007 with no comments.
Read more articles on Credit Monitoring and Credit Score and Credit Score Tips and Personal Finance.
Tips to get your financial life in order
Dump your extra credit cards. Why carry a dozen when a few will do? Get rid of cards you never use and merchant cards you applied for solely to get a discount. Keep your oldest card because the longer your credit history, the higher your credit score. If you carry a balance, keep a card with a low fixed interest rate. Card issuers can raise a fixed-rate card’s interest rate, but they must give you 15 days’ notice. By contrast, an issuer can change the interest rate on a variable-rate card regularly and without advance warning. If you’re not satisfied with the cards you have and want to see if there are better deals, try the search engines at www.bankrate.com, www.cardratings.com, and www.lowcards.com.
| 10 easy steps to the simple (financial) life
Consumer Reports (subscription) - 20 hours ago
Keep your oldest card because the longer your credit history, the higher your credit score. If you carry a balance, keep a card with a low fixed interest … |
technorati tags:personal+finance+tips, cut+up+credit+cards
Written by Adam on January 9th, 2007 with no comments.
Read more articles on Credit Repair and Credit Score Tips and Personal Finance.