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10 Ways to Remove an Inaccurate Charge Off Okay so now, in today’s video I’m going to show you common dispute strategies that you can use to challenge an inaccurate charge off on your credit report or your consumers credit report. This is Mark Clayborne- the Founder of startupcreditrepairbusiness.com. Read More »
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10 Ways to Remove an Inaccurate Charge Off Okay so now, in today’s video I’m going to show you common dispute strategies that you can use to challenge an inaccurate charge off on your credit report or your consumers credit report. This is Mark Clayborne- the Founder of startupcreditrepairbusiness.com. Read More »
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What is a 'Charge-Off' - A charge-off is a debt, for example on a credit card, that is deemed unlikely to be collected by the creditor because the borrower has become substantially delinquent after a period of time. However, a charge-off does not mean a write-off of the debt entirely. BREAKING DOWN 'Charge-Off' - A charge-off usually occurs when the creditor has deemed an outstanding debt is uncollectible; this typically follows 180 days or six months of non-payment. In addition, debt payments that fall below the required minimum payment for the period will also be charged off if the debtor does not make up for the shortfall. The creditor crosses off the consumer’s debt as uncollectible and marks it on the consumer’s credit report as a charge-off. Effect of Credit Report and Credit Score - The repercussions for having a charge-off on your credit report includes a fall in credit score and difficulty in getting approved for credit or obtaining credit at a decent interest rate in the future. Paying off or settling the overdue debt will not remove the charge-off status from the consumer’s credit report. Instead the status will be changed to “charge-off paid” or "charge-off settled.” Either way, charge-offs remain on the credit report for seven years, and the affected party will either have to wait out the seven years or negotiate with the creditor to have it removed after paying off all the debt. In the latter case, if the inability to repay the debts on time was due to a temporary setback like job loss, the debtor could write to the lender detailing the issue with proof of a good payment history up to the time he lost his job. Read More »
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Starting any type of business can be really exciting! But when it comes to credit repair business you must know the points so that start your business ASAP. It is really important to get help from those who are already in this field and are ready to be the mentor. To start a credit repair business you need to understand that CREDIT REPAIR BUSINESS IS NOT A PART-TIME JOB. You have to give it as much time as you can. Credit repair business comes with the idea; TO EARN MORE LEARN MORE. Here are the few points to help you start your own Credit Repair Business. Read More »
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Whether you are new to the business or an experienced credit repair practitioner, learning different ways to dispute inaccurate information for your client can always bring great satisfaction at the end of the day. Credit repair is not something you learn overnight, as it takes time, patience and discipline. In this training module, we cover what the laws say about challenging inaccurate information and various other aspects of credit repair. Read More »
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Whenever you check your credit report, you`ll find a section titled "Credit Inquiries" or "Regular Inquiries." These inquiries are made by organizations that pulled your credit report – and they can remain on your report for up to two years. I`m sure you`re already wondering if they have any connection with your credit score (they do), and what you can do about them (read on to find out)! Credit inquiries are of two kinds – hard and soft. Hard inquiries occur when you grant a lender permission to pull your credit report with the hope that you`ll be able to secure a loan of some kind, such as car loans, credit cards, home loans etc. Read More »
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Bad credit doesn`t have to last forever. If you take steps to improve your financial life, mistakes will disappear from your credit report over time. How much time? For unpaid or delinquent accounts, the time period is seven years. For Chapter 7 bankruptcies, it`s 10 years. To prevent mistakes, credit bureaus often err on the side of removing bad information a little early, says Norm Magnuson, vice president of public affairs for the Consumer Data Industry Association, a trade association for credit reporting companies. Read More »
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Managing a bad credit score in the usa today can be done, yet it`s tough. Bad credit makes lots of things difficult, impossible, or more expensive. For example, were you aware insurance companies often charge a better rate of interest for drivers who have low credit score scores? In case you are getting new utilities fired up with your name, the organization will check your credit to make the decision regardless of whether you should pay a burglar deposit. Everyone knows that banks check credit ratings before supplies a bank card or perhaps a loan. As years overlook, this list of companies who look at your credit will likely grow as an alternative to shrink. Read More »
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