Secured and Unsecured Loan

A secured loan works by using the equity available in your home as collateral. If you default on the loan, the lender will simply take ownership of your home. Because it is up to you to make sure that you will make all of your scheduled payments (and make them on time!), the lender has a solid reason to feel secure about offering you the loan. If you fail to make payments, the lender will simply take your home. If you have a proven track record of...

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How To Put A Fraud Alert On Your Credit Report

You should ask for a copy of your credit report, and do so as soon as you are convinced that you are the victim of fraud. If you put your credit report in the back of an envelope, making it completely enclosed, then you will be easy to disappear if the envelope gets lost or stolen. Once you've secured your credit report and realize that you are the victim of fraud, you should immediately contact the credit card companies in which you have accounts....

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Understanding Debts

The first step to repairing your credit is getting a handle on your situation. You need to identify what type of debt you have and what the severity of the problem is.Type of Debt:1. Consumer Debt2. Medical Debt3. Personal DebtUnderstanding your debt can help you have a plan of action to fix the debt. To begin working on your debt, you'll need to know the terms used to describe your different types of debt. Here are several definitions that often...

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Important Things To Know About Loans

If you've been shopping around for a loan and have been rejected then you might be a candidate for credit repair, but is it necessary? Unfortunately most people aren't aware that they are even sitting in front of a financial institution, that they are on their own and that they have an opportunity to get a loan. It's a shame that most people aren't aware of this, as it could easily be a process that's been put in place for many years that creates...

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What Your Credit Score Is Made Of

Consumer credit reporting agencies compile the information in your credit report, but they do not share it unless your request. Without you requesting it, the credit bureaus are legally obliged to store the information and maintain it in their files. With a few key exceptions, they do not share information with each other. This means if you are having credit problems. If someone copies your credit report and finds the information relating to credit...

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Tips To Repair Your Credit

The first step a consumer can take in order to help repair his or her credit is to contact the consumer reporting agency directly. There are three major consumer reporting agencies that provide consumers and businesses with personal credit reports: Experian, Equifax, and TransUnion. While homeowners and auto finance companies tend to look at your credit report first if you are seeking a loan or a credit card, it is essential for everyone to obtain...

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What To Know About Identity Theft And Credit Risk

When it comes to getting a business credit report, most businesses will only refer you to a credit bureau or collectors. Although these are fine sources for obtaining information, at many agencies, you are also hit with an annual charge, finding additional fees at the checkout point. Choosing which agency to apply to depends on what type of information you are looking for.If you are looking for detailed and complete information, then pay attention...

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Advantages of Credit Cards For Business

The risk is magnified as it gets older. Bankers are reluctant to lend money to companies that are involved with political or economic instability. If it were not for banking institutions, most places would not be able to operate. In this case, another option is to obtain a credit card for your business. So, since your company is involved with a high risk, it is important that you start your business in a time of stability. You can do this by applying...

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Basic Steps To Repair Your Credit

Keep in mind that collection agencies will need a judgments from the courts on your credit report. The declared judgment will remain on your credit report seven years. Once you have proof of a judgment, you will need to contact the credit reporting agencies with a copy of the court orders. They will send you a copy of your credit report for your records. In some cases, you may be able to send the agency a letter on the subject matter in question....

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How To Rebuild Your Credit

There are lots of reasons you can rebuild your credit. Some may require a change of lifestyle. If you get a good score, this will make life easier because it will open more credit opportunities. It will be easier to get a home mortgage. You may also be able to get higher credit limits on your credit cards. Having a higher limit on your card can not only make your life easier, but could actually save you tons of money in charges. You will get more...

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Factors That Contribute To Low Credit Score

A low credit score can be caused by many things, instead of just neglect, resistance and no effort. Many people have bad credit scores simply because they do not always make their payments on time, never allow their credit balances to payoff or go over their credit limits. Some people fall on hard financial times, such as job loss, illness, divorce or other factors. Most of these people have a low credit score to reflect their inability to pay and...

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Tips To Avoid Credit Card Debt

Today, we will be sharing some tips for you to avoid credit card debt and bad credit score. Read the following:Stop carrying cardsIf you have excess debt, closing credit accounts may not be an effective financial management act. Experts suggest keeping one credit card for emergency purposes only. All other cards should be cut up and destroyed. Be sure to cancel all accounts after you apply for a new card and talk to the card issuer about your...

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Tips To Have High Credit Score

Today, we will share some tips with you for you to attain a high credit score and here are they:Pay your bills on time. This may not seem like a good habit to adhere to. However, since recent credit reports indicate that the late payment rate has increased, it is even more imperative to make your payments within the required timeline. Understand that you must be diligent when paying your bills. When you start making late payments, your credit score...

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5 Tips To Raise Your Credit Rating

Clean up your credit report and raise your credit rating. It's a lot easier than you think. Here are some tips for you:1. Purchase what you needThis is a relatively simple step. If you are interested in buying a home or car in the future, you will need to show proof that you have decent credit and good money management skills. Banks and finance companies want to see that you've got a long track record as an individual. If you make your payments on...

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