We educate you on how to raise your credit score, and keep it high, while working with your creditors and the credit bureaus on improving your credit report.
Our clients see an average credit score increase of over 60 points. With our money back guarantee, you have NOTHING TO LOSE.
In my opinion, one of the factors which have brought our economy to its knees is instant gratification, which manifests itself in the reckless use of credit. Buy now, pay later. This is an incredibly alluring and destructive philosophy, leading to addictive behavior. The majority of divorces are caused by money issues (excessive spending, gambling, and shopaholic activities), and if you do the research you’ll find that most wars have a financial aspect to them. Throughout time we have been warned, “Neither a borrower nor a lender be, for loan oft loses both itself and friend, and borrowing dulls the edge of husbandry.” and “The borrower is slave to the lender”. In my book, that says it all!
I remember a time when people took pride in saving. At that time, we weren’t held captive to our credit scores, nor was there a need to restore our credit. We simply saved up for what we wanted or felt we needed. Today, saving money is almost an obsolete concept; nevertheless, it can help you regain your financial equilibrium. Here are some points to consider:
1. There’s no need to shop for bargains if you’re going to pay with a credit card. On average, the price to borrow money (through credit cards) is 26%, where most markdowns average 5% to 20%. Do the math.
2. Don’t use the mall for entertainment purposes or because you’re bored. This only encourages impulse buying – the bane of every shopaholic.
3. Never shop without a list. This assures you only buy what you need.
4. Make sure you have the money to afford your list by keeping track of your bank balance. Use an old-fashioned checkbook ledger (free at your financial institution), and faithfully note all deposits and withdrawals. The difference between the two is your actual balance.
Most people have dug such a hole for themselves that they can’t climb out without assistance. There are reliable & honest companies out there specializing in credit score restoration and debt reduction. Online Credit Strategies is a good place to start.
Credit Score Restoration is a hot button topic amongst those looking to buy and sell property in Arizona. Credit Repair of blemished records can occur in many ways. One of the simplest methods to get back on track financially is to avoid costly overdraft penalties from your bank. New laws that went into effect July 1, 2010 (August 15 for existing accounts) have lifted the banking institutions’ control of your overdraft options. Traditionally, most banks would automatically cover you if you swiped a bank card to pay for something that cost more than your account held. The downside, as many of us know, is the excessive fee the banks then automatically deduct from your savings or checking account. This fine print has been the bane of many a careless budget keeper, often accompanied by a knee jerk reaction such as “Why are they charging me more money if I obviously don’t have enough to begin with?” Under the new laws, banks stand to lose billions of dollars ($38 billion by 2009 standards), which they’ve become used to collecting from their otherwise bouncing customers. What card holders now face is the responsibility to keep better tabs on their balance and the reality that they
may no longer be able to buy first, ask questions later. While this may take some getting used to by shopaholics, the end result is that everyone should have more judicious financial habits which will hopefully bleed over into the credit score
restoration side.
What does credit score restoration (and for our purposes, Arizona credit repair specifically) have to do with your personal bank account fees? Not much in
terms of what credit reporting agencies see, since we’re talking primarily about checking and savings account related cards. But as the check card goes, so goes the credit card, (and that sagging credit score is waiting for your habits to shape up so that it may return to full health). Ultimately, the choice to opt in for overdraft protection is still available, but the practice should be more transparent now, with users able to decide if they want mama bank covering their potential overspending mishaps. This protection will still come at a price (of course) and may be the better option for some. If, however, this is the year you vow to spend within your limits and pay down high interest credit cards, you might be better off with some more responsible back up plans, like carrying an alternate source of payment or linking your checking to savings. No one likes to hear that their card has been declined, so keeping better tabs on how close you are to the limit, (say, with text alerts from your bank) might be a cheaper, less embarrassing alternative.
Arizona credit repair policies are not altogether different than credit repair or credit restoration techniques in other states. Though with the housing market in places like Scottsdale starting to heat up like the desert sun once more, fiscal responsibility has never been more imperative. What better way to repair and restore your credit than to spend less on annoying overdraft fees and use that money to dig out of a hole and into a sparkling new property?
Recently I caught a newscast that went into detail about why a good credit score is important in today’s economy. I know what you are thinking, isn’t a good credit score important in just about any economy? Of course it is, however, with banks and every facet of or economy tightening their belts, just about everyone wants to run your credit for items that no one even considered checking a credit score for in the past.
Credit Cards If you still have good credit, you may have noticed most of your limits have been lowered or the constant flow of creditors offering to consolidate all of your credit cards has dropped to a trickle. Since banks are less likely to raise your credit limit, you could show a higher debt to income ratio that will lower your score just due to keeping your balances at your current level. In the past, your credit limits would be raised nearly without asking which would in turn lower your debt to income ratio and raise your credit score. Not so anymore, so keep those balances in check. One card dropping your limit affecting your score can create a domino effect against your other credit lines.
Consumer Credit If you want to buy consumer items like electronics, furniture, computers on credit think about the effects on your credit score. First consider only applying for this type of credit only once or twice per quarter. If you do apply and get accepted for the offered credit lines try and take advantage of some kind of no interest 90 day type account. If you can, make sure it is a revolving line of credit rather than an installment loan, this will leave you with an unused line of credit as of the day you pay the loan off. Leaving you more unused credit on your credit report will in turn lower your debt to income ratio and raise your score.
Housing Landlords for home rentals and banks offering loans to buy houses are running scared. They have all been burned, even by people who had 700 and 800 credit scores over the past 2 years. So contradictory to what you might think, home loans and home rentals both have become decidedly harder to obtain without good credit score restoration to keep or raise your score to at least 680 in most cases. Granted their are a few areas in the country where housing has been hit the hardest where landlords understand, just don’t try moving from one of these areas to an area that was not affected as you may get the cold shoulder if your credit score has dropped below respectability.
We are an experienced team of legal and financial advisors, along with advocates who provide case management and coordination of care and resources.
We have come together to address the unique and complex issues surrounding disabilities and long-term care. We provide families caring for those with disabilities and the need for care, with the resources and information to empower them to make informed decisions to maintain the best quality of life.
Join The Discussion…
If you or someone you care about is grappling with issues relating to the current or future need for care of an aging parent or disabled family member, DON’T WAIT! Get your questions answered at our upcoming event. We will be answering Your Questions on these topics:
• Legal documents that address life planning versus death planning.
• Understanding your health care options in the face of health care reform.
• The pros and cons of long-term care insurance.
• Preplanning to maintain independence and control.
• Opening dialogue within the family and working together.
• Medicaid Planning and Protection of Assets
Place: The Village at DC Ranch
18501 N. Thompson Peak Pkwy
Scottsdale, AZ 85255
Date: June 10, 2010
Time: 6:30 p.m. – 8:30 p.m. Please RSVP to 480-661-1236 x 19
Many of you have been asking yourself, “How do I restore my credit?” After the economy took a downturn a few years ago, many people found themselves in dire financial straits, and felt like the only way to put food on the table was to charge everyday necessities to their credit cards. Once the bills came, there was no money to pay them (and everyone knows you can’t pay off plastic with more plastic!).
As a result, credit repair company after credit repair company started springing up and running ads, all claiming they had the ability to fix their clients’ financial woes. “Company XXX was able to restore my credit in just a few months,” the ads would say. But, did they really? And even if they did, what is the government doing to keep people out of debt?
Recently, the Senate has been debating the Restoring American Financial Stability Act of 2010, which many are hoping will be the saving grace so many consumers need. If passed, the act will:
1. Give state Attorney Generals the authority to play a role in enforcing the rules created by the Consumer Financial Protection Bureau.
2. Ensure that debit interchange fees, also known as “swipe fees”, are proportional to the processing costs and generally reasonable.
3. Allow credit card companies to create minimum purchase floors when customers pay with their debit or credit cards.
4. Crack down on debt settlement and debt negotiation companies (which are far different than a regular credit repair company), requiring them to provide detailed disclosures and limiting the fees they’re allowed to charge.
All things considered, the Act doesn’t have an answer for people asking the question of “how do I restore my credit?”, although it is still possible for senators to work in some amendments to address the issue.
In a move that could keep you from running to a credit restoration company for future credit repair, Visa has finally banned data pass marketing. Although the term “data pass marketing” may sound foreign, you’ve probably experienced it at some point in time.
Here’s how data pass marketing works: you make a purchase online, and then the next page that shows up is an offer for a “reward,” “rebate” or “discount club.” If you accept the offer, which can happen by simply leaving a checkmark in a little box, the original merchant forwards your credit card information to the company offering the reward, and your credit card gets charged. Even more troubling is the fact that these charges often recur each month. This is especially disturbing when a debit card is used, and the money comes directly out of your bank, overdrawing your account.
This type of shady data sharing has been on the radar of for quite some time, and it was the subject of a hearing held by the Senate Commerce Committee in November 2009. It’s almost impossible to get the charges reversed, and when they result in overdraft and insufficient funds fees, they can do serious damage to your credit.
Even a solid credit restoration company can have a hard time getting the charges reversed, making credit repair all but impossible. Visa has taken an impressive first step to protect its card users, and hopefully more credit card companies will follow suit. Otherwise, more people will continue to fall victim to these scam-style offers, resulting in the need for even more credit restoration companies offering credit repair.
Credit repair is such a long and involved process, it should be avoided whenever possible. Even if the new Visa policy results in the saving of one person’s financial life, it will be well worth the effort.
Medical identity theft is one of the fastest growing crimes in the country, and although it’s a worldwide problem, it seems to be hitting America especially hard. In fact, nearly 1.5 million Americans have been victims of medical identity theft – a statistic with an estimated total cost of $28.6 billion, which works out to about $20,000 per victim. The credit restoration process for something like that is especially painful, as it affects several parts of each person’s life.
For one, it doesn’t just affect the victim’s credit; it also affects the victim’s medical history, too. Since no credit repair company can adjust a person’s medical records, the fradulent charges end up costing more than just money. Victims of medical identity theft often have a difficult time getting health insurance due to “pre-existing conditions,” regardless of whether or not the “conditions” were actually their own.
Since a credit repair company can’t use the credit restoration process to fix the problems caused by medical theft, the only real course of action people can take are preventative. Here are some ideas that can help you avoid the credit restoration process and forever damaged medical records:
• Invest in a credit protection service. Sure, it’ll cost a few dollars each month, but having somebody watching out for your credit and health history could be well worth the money. Plus, it could save you from having to pay a credit repair company for credit restoration.
• Shred everything that has your information on it. Even if it seems like a benign letter, if it has your name, address or phone number on it, identity thieves can use it to steal your medical or financial identity. Don’t risk throwing papers directly into the trash – always shred them first.
• Monitor your credit report. You can check all three of your credit reports for free, once a year. Be sure to inspect yours closely, and dispute any errors immediately.
In my opinion, one of the factors which have brought our economy to its knees is instant gratification, which manifests itself in the reckless use of credit. Buy now, pay later. This is an incredibly alluring and destructive philosophy, leading to addictive behavior. The majority of divorces are caused by money issues (excessive spending, gambling, and shopaholic activities), and if you do the research you’ll find that most wars have a financial aspect to them. Throughout time we have been warned, “Neither a borrower nor a lender be, for loan oft loses both itself and friend, and borrowing dulls the edge of husbandry.” and “The borrower is slave to the lender”. In my book, that says it all!
Credit Score Restoration is a hot button topic amongst those looking to buy and sell property in Arizona. Credit Repair of blemished records can occur in many ways. One of the simplest methods to get back on track financially is to avoid costly overdraft penalties from your bank. New laws that went into effect July 1, 2010 (August 15 for existing accounts) have lifted the banking institutions’ control of your overdraft options. Traditionally, most banks would automatically cover you if you swiped a bank card to pay for something that cost more than your account held. The downside, as many of us know, is the excessive fee the banks then automatically deduct from your savings or checking account. This fine print has been the bane of many a careless budget keeper, often accompanied by a knee jerk reaction such as “Why are they charging me more money if I obviously don’t have enough to begin with?” Under the new laws, banks stand to lose billions of dollars ($38 billion by 2009 standards), which they’ve become used to collecting from their otherwise bouncing customers. What card holders now face is the responsibility to keep better tabs on their balance and the reality that they
Medical identity theft is one of the fastest growing crimes in the country, and although it’s a worldwide problem, it seems to be hitting America especially hard. In fact, nearly 1.5 million Americans have been victims of medical identity theft – a statistic with an estimated total cost of $28.6 billion, which works out to about $20,000 per victim. The credit restoration process for something like that is especially painful, as it affects several parts of each person’s life.
