Understanding Your Credit Score - No Credit, Slow Credit Or Bad Credit
Slow credit is defined by someone who does pay there bills but has some delinquency payments, just paying a little slower than when they are due. Late payments affect your credit based on the severity. Reporting agencies base there scoring on multiples of thirty days. If the due date on ones credit card is January 15th, and the payment is made by February 14th, there may be a late fee from the card company but it will not show as a mark against the credit file. If that payment comes in after February 14th it will be considered a 30 day late payments and will show as a negative mark against the score. This type of slow payment puts a red flag up for a lender. There would be an additional mark if that payment came in after 60 days, again after 90 and again after 120 days late. Once an account reaches 120 days late the card company will generally forward that account to collections. It is very important to realize that delinquencies on different types of accounts are considered more severe than others. A late payment on ones mortgage is considered much more severe than one on a card. Installment loans fall in between revolving debt and mortgage debt. Slow credit is simply a person that has made some late payments but has been able to get those accounts current and has had relatively few delinquencies. In addition slow payment is different than a bad payment history.
Monday, March 8, 2010 Categories:General
How To Raise Your Credit Scores and Repair Your Credit Yourself for Free
Many people are watching their credit scores drop. There are many reasons this happens, but the most obvious is due to negative information about your credit history on your credit report. The good news is that these are the easiest for you to fix yourself...for free.
Wednesday, February 24, 2010 Categories:Mortgages
Repair Your Credit With An Unsecured Loan
The first thing you need to do when looking for a bank is to outline what your needs are. You may wish to look at your debt as a whole and work out what is most important and which areas need fast attention.
Wednesday, February 24, 2010 Categories:Loans
Do It Yourself Credit Repair Services For Everyone
The longer you ignore a bad credit rating, the worse things become. Essentially control of your life ahs been taken out of your hands and you want to take back that control. Repairing your credit is a good thing and while it may appear like a huge challenge, you can do it, even without the assistance of credit repair services. As soon as you make a start things will get better faster than you know it.
Tuesday, February 23, 2010 Categories:Loans
Credit Repair Attorney: How to Decide if You Need One to Clean up Negative Items
Credit Repair Attorney: How to Decide if You Need One to Clean up Negative Items
Saturday, January 9, 2010 Categories:Bad Credit
Fixing Your Debt Situation
You need to differentiate between adverse financial problems. For example, a financial emergency is when you experience a situation that can leave you penniless, homeless or without any significant property. You should separate these sorts of emergency from a threatening phone call or a letter from a bill collector.
Friday, December 25, 2009 Categories:Mortgages
Loans for Christmas Shopping?
When the Christmas festivities come around, it is a time once again for the giving and receiving of gifts between friends, family and colleagues. The way it usually works is that if you see an item that you know someone you love or like very much or something that they have wanted for a long time, then you will mull over buying it for them as a gift to be given at or around Christmas, depending where your family comes from, because not all Christian countries give Christmas presents on the same day.
Thursday, December 24, 2009 Categories:Loans
Getting A Loan Modification Letter
What do you do when you are faced with tough economic decisions?. What if you were in need for help, and you had financial issues. If you are having problems with your loans, you may need to write a loan modification letter.
Tuesday, December 22, 2009 Categories:Loans
Your Credit Score Affects Your Ability to Purchase a Home
How a Low Credit Score Affects Your Purchase of a Home
Friday, December 4, 2009 Categories:Mortgages
Bad Credit Loan
A bad credit loan is distinct as lending credit to people with bad credit history. There are lots of reasons why a number of persons obtain bad credit. The number one reason among these is failure to pay preceding loans or debts. Failure to pay debts such as credit card debt or mortgage may be due to loss of one's job or someone got carried away and bit off more than he/she could chew. If a person is guaranteed to have a bad credit, the likelihood of losing his/her possession or property is inevitable.
Tuesday, November 24, 2009 Categories:Bad Credit
