Category Archives: Credit History

Hard Money And Credit

Today I’m going to take a brief look at the factors involved in calculating your credit score. When dealing with hard money lenders, your credit score did not used to make much of a difference. In the market today, on the other hand, things have changed, and even in the hard money realm, your credit is playing a more prominent role in lending decisions.

A lot of people are not well informed at all when it comes to the factors that determine their credit score. We have made a quick fast overview on credit score factors:

35% of the credit score comes from payment history. This is the largest chunk of your credit score, and the newest reporting is the most important. The items that fall under this general category include

  • Bankruptcies
  • Collections
  • Repossessions
  • Judgements


The next largest chunk of your credit score is derived from accounts owed. Credit cards, home loans, car loans, lines of credit and also boat loans all factor into this part of your credit score.

15% of your credit score is a result of the length of time your credit history shows, how long your various credit cards and other loans have been open in other words.

10% comes from new activity. Having your credit run falls under this section.

Finally, the last ten percent comes from types of credit that you use.

How To Improve Your Credit Score.

It is common knowledge that a consumer’s credit history and credit score are the main aspects which play decisive role when you want to get a loan or financial help. Be ready to face problems if your credit scoring is bad, make efforts to improve it.

To understand how significant your credit score is just imagine that you cannot afford car purchase, home and other major purchases, a new job, and so on and so forth provided your score if low. Your credit history and score with bad ranking make getting a loan hard for you. Even if you haven’t paid your student loan this also will negatively affect your credit score.

Once you have found that your credit score is far from being perfect look for the tactics meant to improve your score. Depending on your situation there are various procedures that can be undertaken. In general there are several things you can do to improve your credit score.

The first thing you need to know is a trade-line which is related to credit cards, loans. It is needed to keep tree trade-lines at least to have a good credit scoring. To have a good credit history you need to pay debts on time. In case you have any credit report problems, such as late payments, your score will low down.

If you want to obtain financial help quickly request for a secured credit card. You will need to pay deposit beforehand. Such credit card is a trade line that reflects your balance payment. Doing so helps you to increase your credit score. You can also apply for an unsecured credit card, which in most cases has yearly fee and limited balance. Getting a credit card you pay the annual fee. You will see the first positive results in your rating in three or four months. Everything is quite simple but you need to make payments in timely manner.

If the situation is quite complicated and it is difficult for you to cope with all your financial problems without professional assistance, you can hire an expert to help you. There are pretty much agencies, firms and various programs providing credit repair services. It may seem too hard to choose the right one. When you fix upon such an agency make sure that the services it provides are legitimate. This agencies can be of help since they communicate with your creditors. If you choose do-it-yourself manuals it can also be too hard to find the right one because of great quantity of various free and paid books and guides. Whatever way you will choose you need to know the way credit history repair process work. Undertake a structured approach and educate yourself about all the innovations that take place in the sphere of credit reporting and score.

In everyday life we can find many examples how good info applied at a proper time can save you from big problems. With credit score this is the same story. With free credit score info you can act accordingly.

So, if you need free credit score information, together with nice advice – please visit this website. Compare and use free credit score for your advantage!

Nowadays we are living in the world where info quickly enhances the quality of our life.

That is why if you are properly armed with the info in your topic you can be sure that you will always find the way out from any bad situation. So, please make sure to track this blog on a regular basis or – the least time consuming way of doing it – sign up to its RSS. In such an easy way you will have a direct shortcut to the latest info updates here. Blogs can be helpful, you just need to understand how to use them.

Loans And Credit

Today I’m going to take a brief look at what makes up your credit score. When working with hard money lenders, what your credit was did not typically make much of a difference. In the market today, on the other hand, much has changed, and even in the hard money realm, your individual credit is playing a larger role in lending decisions.

A large number of people are not well informed at all when it comes to the true facts surrounding their credit score and what it consists of. We have made a quick concise overview on credit score factors:

Thirtyfive percent of your credit score comes from payment history. This is the most weighted area of the credit score factors, and the newest information matters the most. The items that make up this category are

  • Late payments
  • Charge offs
  • Tax Liens
  • Bankruptcies


30% of your credit score comes from accounts owed. Credit cards, first, second and third mortgages, car loans, lines of credit and installment loans all make a difference in this section.

fifteen percent of your credit score results from how long your credit history is, how long your various credit cards and other loans have been open in other words.

Ten percent comes from recent activity. Getting your credit run falls under this section.

Finally, the last ten percent comes from the kind of credit that you have used.

Facts And Advices For People With Bad Credit History

In the case you have a bad credit history you do not think that you are alone because there are hundredas of thousands of people that also have bad credit history. The good news about it is that there are a lot of lending companies that now are starting to use more personal approach instead of totally mechanized approach for declining or approval loan applications. A lot of these lending companies have understood that the presence of a bad credit history does not mean that a person is bad because bad credit history could be a result from various causes many of which could be completely out of the person’s control. Among these reasons the following could be outlines – job layoff, enormous and unexpected medical bills, divorce and a lot of other things that have no bearing on the intention of the person to managing their finances.

Just because you have a bad credit rating does not mean that for you it is impossible to obtain a personal loan. It just means that traditional sources of lending as banks or credit union do not want to provide you with the loan. Nevertheless, there are a lot of options available to obtain a loan if you have a bad credit history.

First of all you have to determine whether your history is really bad or you just have a feeling that it is bad. Your first step have to be to get copy of your credit reports from three biggest credit bureaus and figure out how bad is your history. Here you can be surprise with the fact that in reality your credit history is not so bad as you think. Also your credit report may contain some errors which according to your legal right you may correct. When all the errors are corrected your bad credit history may go up a few levels.

Then even if you have a bad credit score after correcting all errors, you need to look beyond your local credit unions and banks. Take into consideration that shopping around for a loan is the same process as shopping around for a new car or home. In other works, the world of lending industry is very competitive and the interest rates and loan terms are available in a great variety, so in the case you want to get the best deal for you, you have to shop around.

You have to be ready that in the case you have a bad credit history, your personal loan will going to have higher interest rates in comparison with the good credit loans. It is because people with bad credit history are people with the high risk and lending companies want to secure themselves by offering you loans under higher interest rates.

For the tips about credit repair services – please visit this site and learn how to fix bad credit. It is possible to fix bad credit.

And please pay your attention to the simple fact that right now we all are living in the world where info makes life easier.

That is why if you are properly armed with the info in your sphere of interest you can rest assured that you will in any case find the solution to any bad situation. So, please make sure to get back to this web site on a regular basis or – an ideal solution for you – sign up to its RSS. In such an easy way you will have a direct shortcut to the latest informational updates here. Blogging can be helpful, you just need to know how to use them.

Having A Bad Credit History: Things To Be Aware Of

Nowadays, the quantity of people with credit cards is increasing as well as the amount of people constantly getting themselves into bad debt. For many people looking for the mortgage, but having a bad credit history, the future looks absolutely grey. But the presence of bad credit history is not a reason to be despair. Your might be surprised with the choices of mortgages available for people with bad credit history.

So, what is it – bad credit?

Bad credit, also known as adverse credit, could happen to anyone. Problems with bad credit refer to various difficulties which people might be experiencing including the following – bankruptcy, mortgage arrears, court judgments and loan defaults.

Bad credit could affect anyone and very often people do not even realising that they are in a bad credit situation.

Why is it so hard to obtain mortgage for people with bad credit history?

Unfortunately, one of the disadvantages of having bad credit history is that lenders are always wary about lending you money, especially when it is about a large sum of money such as a mortgage. Generally, the majority of mortgage lenders want that your credit history shows that you are reliable in repaying your previous debts. In the case you have defaulted in paying back money you owe or in the case you have any court judgments against you, the lenders see the risk of lending you money to be much higher and as the result they charge an increased interest rate. Until recently the mortgage for people with bad credit history has seemed to be absolutely impossible.

In what way has the situation changed?

The situation with mortgage for people with bad credit history has changed during the last half a decade because there was simply no choice. It has come for the variety of different reasons, and one of them is the significant rise in quantity of people with bad credit histories. As the social attitude towards bad credit has changes, more facilities have become available on the market of lending. Also it influenced on the number of lenders who are prepared to lend a certain amount of money to people with bad credit histories. Nowadays, there is a relatively large group of lenders willing to provide special mortgages for people with bad credit histories and today’s level of competition is pushing the prices down, resulting in the better deal for the borrower.

In the case you are interested in a mortgage foe the people with bad credit history then the best thing for you to do is to speak to the professional mortgage broker, who qualifies in providing advices for bad credit mortgages. However, you always have to be sure, that the mortgage broker is high qualified specialist.

For the tips about credit repair services – please visit this site and learn how to fix bad credit. It is possible to fix bad credit.

And please pay your attention to the simple fact that right now we all are living in the world where information quickly enhances the quality of our life.

Due to this if you are properly armed with the information in your topic you can rest assured that you will in any case find the solution to any bad situation. So, please make sure to visit this site on a regular basis or – best of all – sign up to its RSS feed. Thus you will have a direct shortcut to the latest informational updates here. Blogs can be helpful, you just need to know how to use them.

Find Out More Information About Credit Repair Procedures To Improve Your Credit Sore

Do you want to be one of those individuals with a bad credit score? No? There are some things you need to do so as to keep your score high, and if your credit report and score are far from being perfect that are also some procedures with the help of which you can increase your credit rating and score. There are proven credit repair procedures, use them to see positive results in your credit rating and score.

The first thing you should do is to get the latest credit report information by getting your credit report latest version from the three major credit reporting agencies: Expedia, Equifax and Transunion. Once you get your credit report you need to review it.

Consumers’ credit scores range from from 300 to 850 plus. Scores above 800 are excellent and if you have such score you will be offered the lowest of rates. Credit scores that are above 720 are a good credit score and allows you to qualify you for the best interest rates. If your score ranges from 720 to 680 it is not a perfect score, but it is still considered a good credit score. If your score is above 620 and below 680 it is good but associated with some restrictions. Your score is bad if it is below 620. With the credit score dropping below 580 it means that you have derogatory marks in your credit report and you need credit repair.

A lot of consumers have problems with their credit reports and if you find an error in your report don’t be shocked. Such inaccuracies and errors can be corrected. At first, you contact the credit bureau and sent all the documents related by mail. The credit bureau investigates the issue. If the negative information is not true it is eliminated.

If you have charged off accounts, missed or late payments, this information will be kept on your credit report for up to seven years. If you have a bankruptcy, this will remain on your file for ten years. There are instances when you do not have the money needed to pay the debt back. It is a big problem because you need to pay it off immediately. If it is problematic for you, work out a repayment plan with the assistance of your lender.

You can also benefit from the length of your credit. Thus, when you are going to close unnecessary or unused accounts it is advisable to close newer account, while the less recent ones should be left. All of the above mentioned steps can improve your credit score. However, there is one very important thing you also should do. You need to overview your lifestyle and get rid of the habits that lower your credit score rating.

In our daily life we can find tons of examples how good info applied properly can save you from big troubles. With credit score this is the same story. With free credit score info you can act accordingly.

So, if you are looking for free credit score information, together with nice advice – please go to this web site. Compare and use free credit score for your advantage!

Right now we live in the world where info makes life easier.

Due to this if you are properly armed with the info in your sphere of interest you can rest assured that you will always find the solution to any bad situation. So, please make sure to get back to this site on a regular basis or – the least time consuming way of doing it – sign up to its RSS feed. In such an easy way you will have your hand on the pulse of the freshest info updates here. Blogs can be helpful, you just need to understand how to use them.

Some Key Points to Fix Credit Fast

Financial institutions think many times before granting credit to anyone, due to this reason all those having bad credit need to fix bad credit as soon as possible. Bad credit isn’t like having just a bad taste in your mouth, In fact repairing a bad credit is a difficult task, but there is a piece of good news that now it is possible to recover from bad credit with little effort.

When you decided to fix bad credit fast you actually have taken the first step towards gaining control over your finances. Mostly people think that much money is required for confronting the situation honestly. Anybody can face situation of bad credit, especially in some developed countries it is a common practice to make credit purchase for all products and services, and mostly people don’t care that credit purchase can propel them towards bad credit.

If you want to fix your financial mistakes at any level, don’t forget to consult debt consolidation companies and debt counselors as they have tremendous credit repair programs. Bad credits are the ones that negatively impact your financial future. You need to make a commitment towards financial improvement plans first and later join some credit repair program.

You need to have chosen a quality credit repair program that not only solve your problem, but also fits in your budget. A quality credit repair program is that which help you to stay out of debts without facing any difficulty. Irrespective of other benefits a quality credit repair program gives you a sense of accomplishment that leads you a better secured future and enables you to know well how to repair bad credit fast.

If you want to know how to fix your credit fast remember it is not so easy, in fact by using credit repair programs effectively it can be achieved within few months. Before choosing any program, you need to check the quality and credibility of service offered by program provider. It is true that most credit repair programs have a remarkable feature of repair, but you should know which program has relevant feature essential to repair your bad credit.

It’s better to stop repeating previous mistakes, remember debt should not exceed 25 percent of disposable income, and try to adopt it in your personal life and protect yourself from burden of huge credit. In other case if you don’t care and comply with the instructions of bad credit repair program most likely your debts burden will increase like a streak of lightning.

Poor Credit Loans: The Best Option for People with Credit Problems

You’re overwhelmed with large expenses like your car repair or medical bill, and it doesn’t help that you have a low credit score. That said, a far-from-perfect credit standing can hurt your chances of getting approved for a loan. So what’s the best thing to do? Simple – obtain a loan for people with bad credit. That’s right, there are lenders for poor credit scores.

A bad credit loan is designed for people with low credit rating, country court judgments (CCJs), or repayment defaults of past loans. Thus, people with bad financial records can still be able to finance their home, car, or other huge expenses through bad credit loans such as personal loans and secured loans. You just have to find the right loan officers for people with very low credit scores.

Loans usually come with higher interest rates for people with bad credit score than for regular borrowers. Such is the policy of many lending companies because of the risks such as late or failure of payments from borrowers with poor credit standing. People who apply for bad credit loans need to prove to lending companies that they can fully pay off their debts on time.

You can choose either to get a secured loan or lower your loan so that you have more chances of getting approved for your bad credit loan. Of course, it’s easier to pay off your loan if you reduce the amount. On the other hand, secured loans allow people to get a big amount quickly, as these loans require collateral such as a house or car. If the borrower cannot fully pay off his loans, then the lender gets hold of the collateral. This is common when you are looking for a car loan after bankruptcy.

A number of lending companies approve bad credit loan applications. A loan for people with bad credit score is a boon for those who need urgent financial aid. It allows people not only to finance their huge expenses, but also to merge all their debts and improve their credit rating. Improving credit score is possible if the borrower can make timely and full repayments on his bad credit loan. The interest rates of a bad credit loan will gradually get better if the borrower doesn’t fail in his financial obligations. Some bad credit loans have lower interest rates than the rates of all a borrower’s current debt. That means despite the seemingly high interest rates, the borrower can still save some cash.

Applying for bad credit loans is now made easier through online application processes. In a matter of clicks, bad credit loan seekers can apply for a loan on the Internet. You can avail of a loan even at the comfort of your home or office. Before doing so, you need to check the lender and its terms and conditions to make sure you won’t suffer bigger losses from your bad credit loan. Absolutely, bad credit loans can be a manna from heaven for people beset with huge financial and credit problems.