Credit Cards, Collectors and Reporting Period Limits
Mark the Default Date
If you stop making payments on a credit card (and never resume), the date you are officially 30 days behind becomes your default date. This is also the moment the reporting period clock starts ticking. The credit card company will typically charge off the account six months later. The reporting period clock will tick for 7 years plus 180 days from your default date, and cannot legally be reset by any subsequent collector, but…
[continue article...]Exploring the Mysteries of FICO
FICO is Not Your Report Card
Fair Isaac did not develop the FICO score for consumer use. And although it has become a de facto consumer credit “report card” it was never intended as such. In fact, the mechanics of FICO produce a score that, from a consumer perspective often makes little sense. But FICO is logical, and, for credit repair purposes, should be understood.
[continue article...]Confronting Collectors with Credit Repair
Level the Playing Field
Collectors are aggressive. There are exceptions. But it is a fact that the culture of the collection industry is rooted in the belief that dominant personalities prevail. The business attracts hard characters. Soft spoken gentle souls tend to make a living in other fields. If you are contacted by a collector forewarned is forearmed. Here are a number of credit repair strategies that can level the playing field, and put you in charge.
[continue article...]The Fine Art of Building New Credit
Two Sides to Credit Repair
There are two forces that influence your credit scores, the negative and the positive. Cleaning up negative information is our job. Building positive credit is all about you. Both are integral parts of a successful credit repair program.
[continue article...]So You Want to Get a Mortgage?
Tired of Paying Rent?
What an amazing time to buy a house. Rates are down. Home prices are low, low, low. Wouldn’t it be nice to re-deploy your assets from that monthly rent check to a mortgage payment on a home you can call your own? It can be done. Credit repair can help.
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