Automate Your Finances – Never Miss a Bill Again

When you have done all of work necessary for credit repair, it just makes sense to keep your record clean and your score high. This is especially important if you are working toward a home purchase. But, if you have problems remembering to pay bills, this can undo all your effort. Luckily, a few minutes spent automating your finances can help ensure that you never miss a bill and painlessly build your nest egg at the same time.

Start with Direct Deposit

If you still receive a paper check from your job, see if they will switch you to direct deposit. Having your paychecks deposited directly into your account means that you spend less time at the bank, have your money sooner, and even have a wider choice of banks.

Set Up Automatic Bill Pay for All Regular Bills

Many checking accounts will allow you to set you automatic monthly payments using bill pay features in your account. If you do not have this option, you can also check whether the companies you pay each month have automatic deduction features on their web sites.

For credit cards, set up an automatic payment that will cover at least the minimum on your card. You will usually have the option to choose the day of the month that payments go through. This way, you can pick a day that comes after your payday. For instance, if you get paid on the 15th of the month, schedule your car insurance payment to hit a day or so after that each month.

Get Automatic Savings, Too

Many savings accounts and retirement accounts allow automatic contributions. These are taken directly out of your checking account, so, you never miss the cash. A regular automatic contribution to a savings account is a painless way to accrue funds for a down payment on a house. By automatically contributing to retirement accounts like IRAs, you establish future security. Plus, many discount brokerages will reduce or even eliminate fees if you sign up for automatic contributions to the account.

Give Your Finances Periodic Check-Ups

Once all of the money that goes into and comes out of your accounts has been automated, you will need to check balances far less often. However, it is still worth it to look at accounts periodically to see if adjustments need to be made. For instance, once your savings account balance reaches a certain level, you can transfer money to higher yield investments. As a rule of thumb, look at your checking account a few times a month and investment accounts a few times a year.

Do Not Automate If…

There are some situations where automating bill payments and contributions to savings can be counterproductive. Automatic investments may not work for people who have unpredictable income, since billing dates may not work with the days you get paid. You should also avoid automation if your checking account balance tends to be dangerously low.

Each person should evaluate their finances individually. For most people, in the end, worrying about one less aspect of your finances can reduce your stress levels and increase your financial well-being.

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Zombie Debt – How to Deal with them

What should you do when you get a collection call or letter for a debt you could swear that you don’t owe? Whether it’s an erroneous account that was removed during credit repair, something you’ve paid in full or a debt that’s been charged off, these phantom debts can come back to haunt you. Luckily, there are ways to send them back to the grave.

How Does Zombie Debt Happen?

When a consumer defaults on debt, the original debt owner can sell it to a collection agency. These agencies usually pay only pennies on the dollar. If they can collect anything at all, they can usually make a profit. And, if they fail to collect on the debt, they can just go ahead and sell it to someone else.

But, with all of these debts being shoveled from one collection agency to another, it can be hard for collectors to keep their records up to date. Some debts are resold even though they are past the statute of limitations. In other cases, the debt collector’s records will not reflect that a debt was canceled during bankruptcy. As a result, these debts can pop back up years after they have ceased to be your responsibility. They can lower your credit rating and get in the way of home purchase plans.

What Is the Best Way to Handle Zombie Debt?

If you get a collection call about a debt that you do not feel that you owe, do not discuss it over the phone. Get a mailing address for the collection company and then hang up the phone. Unscrupulous debt collectors can try to make you take responsibility for the debt, so, telephone conversations are not worth it.

Instead, write a letter requesting written verification of the debt. They must provide this within 30 days and are not permitted to pursue collection until they have verified what you owe. Do not pay a debt collector to stop harassment. This can be construed as admission that the debt is legitimate, and can lead to further harassment.

If they cannot prove that you are legally responsible for the debt, they are not entitled to collect. While there is no law against them contacting you in writing, you can safely ignore most contact. The exception is if they send a notice saying that you are being sued. In this case, you need to show up in court, if only to maintain that the debt is not yours.

How Can You Fight Back Against Bad Collection Agencies?

Check your credit report regularly to make sure that old or discharged debts have not been improperly reported. If a debt collector reports a debt to credit monitoring agencies or tries to sue you after the statute of limitations, that is a violation of federal law. Report them to the Attorney General in your state. You may be entitled to damages.

Always make it clear to debt collectors that you know your legal rights. They are less likely to pursue you if they know that you cannot be tricked into paying a debt that you do not owe.

No Credit – No Problem

No credit, No problem! Chris & Nik talk about how to build a credit report from scratch.

“Is it true that you need to carry balances on credit cards?”

“What are some in-expensive ways to rebuild your credit?”

“How can someone build up their credit score in a short period of time to purchase a home?”

Chris Devin, host of Real Estate Talk Boston Radio and Vice President of Lending at Guaranteed Rate Mortgage asks Nik some great questions about how to build and then re-build credit from scratch.

As always please feel free to Sign Up for $0 Today.

Rebuilding Credit Tools

Secured Credit Cards

More compared to that, credit cards are one of the methods creditors take a peek at our credit report past with and also they can in fact make or crack our opportunities for a good finance, a house or a task. We turn to protected credit rating cards.

Protected credit cards are a fantastic alternative to routine bank card. Whether you have bad credit rating terribly requiring repair work, cannot obtain a charge card or are new to the credit history scene, a protected bank card can assist you re-build or establish your credit.

Exactly how does it function?

That quantity than operates as your credit history line. If you transferred $700 in your account, you could use your safeguarded credit history card to acquire items up to $700, absolutely nothing even more.

Some financial institutions provide to offer you much more credit rating as an incentive for being a good customer (i.e., you pay your expenses on time) or perhaps allow you to charge up to a certain percentage more than your deposit amount. You simply should pay a small rate of interest to pay for that kind of usage.

What’s the minimum down payment amount?

Depending upon the type of card you selected or on the banking establishment, the majority of protected bank card will certainly require a down payment starting at $300. There is no restriction to the amount of you wish to include later.

Just what to look for in a secured charge card.

Compared to unsecured cards, secured credit cards call for yearly charges as well as have greater rates. If you’re shopping around for a secured card, make certain to get one that has no application cost. You will have to pay an annual cost so select a safe card that does not request an excessively high charge.

Keep an eye out for secured credit card agreements that conceal charges or ridiculous add-ons that you don’t truly need. An instance is one where a charge card business will certainly authorize your safeguarded card application offered you register for a monthly insurance policy that sets you back $50.

Where can I obtain a protected bank card?

If it’s still component of their item line, not all banks offer safeguarded credit report cards yet you can still inspect out your regional banking establishments. You can also consult your credit unions considering that numerous of them provide these cards to members only.

Utilizing safe credit cards to build credit rating

While many banks target customers that have never ever had credit history just before as the primary individuals for safeguarded bank card, several consumers use safeguarded bank card to assist re-establish their credit report. To do this, consumers require just to utilize their secured cards and ensure that the costs earns money each month. By developing their integrity, the customer sets up good credit report.

The future of safeguarded bank card

Protected bank card are still the choice of several card owners, yet several are surrendering their safeguarded cards for unsecured cards. Unsecured cards do not need money security, which accounts partly for their attractiveness. A safe bank card is still a fantastic selection, particularly for folks who are still building credit report or for those and are trying to restore their own.

Additional compared to that, credit rating cards are one of the means financial institutions take a peek at our credit past history with as well as they could actually make or crack our opportunities for an excellent loan, a house or a work. Compared to unsecured cards, protected credit rating cards require yearly fees and also come with greater rates. While a lot of financial institutions target clients which have actually never ever had credit history before as the main individuals for safeguarded credit rating cards, several customers utilize safeguarded credit rating cards to help re-establish their credit history. Protected credit rating cards are still the choice of lots of card owners, yet several are offering up their safeguarded cards in exchange for unsecured cards. A secured credit rating card is still a fantastic selection, especially for people who are still constructing credit or for those who are attempting to reconstruct their own.

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We are not just your credit advisors!

Thank you so much for your kind words!

“They are Awesome! Extremely professional and I felt like I had a partner helping me, not a business. I cannot say enough about how they listened and helped me thru every step. I absolutely will recommend them to anyone having credit issues. They can truly help turn your credit around, and change your life for the better!!”

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Credit consolidation – Why it may not be needed

One of the great misconceptions with credit repair is that we consolidate debt. Credit Repair is defined by the credit repair organizations act specifically and has nothing to do with consolidating debt or reducing interest rates. Our top priority is assisting clients with the removal of unwanted, inaccurate & erroneous credit information. This process consists of writing letters challenging these negative records to all 3 credit agencies + the specific creditors. The fair credit reporting act is your #1 piece of ammunition when challenging negative data on your credit report and can be reviewed by visiting us online and clicking on our Credit Repair Law tab.

As always feel free to contact our office with any questions or to Sign Up for $0 Today.

Nikitas Tsoukalis, President

Key Credit Repair

More On Debt Consolidation

A Loan For Debt Consolidation Permits You To Pay Several Lenders With One Simple Payment Paring Down Settlements A Financial obligation consolidation funding is the production of one brand-new loan for the objective of settling all various other existing fundings as well as charge card financial obligations. A lending for debt consolidation allows you to pay several creditors with one basic settlement. A debt unification is considered a personal finance. The key function behind financial obligation combination borrowing is to lower your interest rate while supplying the debtor with a month-to-month repayment she or he can afford. It also prevents a negative affect to the debtor’s credit ranking along with keeping possessions from threat. A financial obligation unification finance could be well recommended for an individual that is having a difficult time making month-to-month repayments on existing financings that lug a higher rate of interest. The fringe benefit of debt combination is that the combination does away with the debtor’s call with the numerous financial institutions. This stops collection calls and also correspondence. Exactly what you’ll should qualify for a finance for financial obligation unification: * A written budget plan, revealing monthly’s expenses and also income. * Proof that you have a stable income adequate for the payment of the financial obligation consolidation loan. Pay short ends and/or tax forms would certainly suffice. * You may need evidence of security, such as couch equity records or vehicle title. If your credit history is not appropriate, * You might likewise require a co-signor. You could repay a variety of financial obligations and finances with a debt consolidation arrangement. Qualified costs consist of clinical, charge card, retailers, individual financings, pupil fundings or even checks returned for not enough funds. Prior to thinking about a financial obligation unification there are many elements you should evaluate. They are: * Fees engaged in consolidation. While a small charge prevails, reliable financial obligation unification firms will certainly not declare to lessen the amount of debt you owe nor will they bill you a sizable upfront payment to do so. * The unification rates of interest. Just what you want is a set price loan and a price that is less than the average price of your existing debt. * Consolidation financing repayments. You’ll wish a monthly settlement that is lower than the consolidated settlements of the present debt, although this should not be completed by any sort of substantial lengthening of the payment time. * Whether your credit history ranking will certainly be negatively had an effect on. Go in other places if the combination firm is not clear on this. As part of your financial obligation unification funding consideration you’ll intend to look realistically at your complete financial obligation, establishing specifically the amount you’ll should obtain for consolidation. You need to additionally speak to all lenders and also understand if any kind of will supply a negotiation (bearing in mind that payoff off a negotiation amount instead of total debt may negative affect your credit score.). Your next step would certainly be to take down on paper your month-to-month budget plan, consisting of all your expenditures as well as your earnings. Do not overlook to give on your own some leeway – a tiny emergency or miscellaneous expense figure. If you obtain for combination, take a great hard appearance at what you can pay for to repay. Debt consolidation benefits:. * You could save money by lowering the interest rate you are paying, which then decreases your regular monthly debt unification loan settlement. * You will just have one loan to fret about paying each month. * You’ll only have one lender to focus on, meanings that the others will not be contacting you. Debt consolidation drawbacks:. * You’re possibly going to be prolonging the time duration through which you are paying your debtors, therefore improving the overall cost with time. * You might have to provide your house or your vehicle or various other significant residential properties as security. This places them at risk should you default. A financial obligation unification financing may be well advised for an individual which is having a hard time making monthly settlements on existing fundings that lug a higher rate of interest. The added advantage of financial obligation consolidation is that the unification eliminates the debtor’s contact with the various lenders. Your next action would be to put down on paper your month-to-month budget plan, consisting of all your expenditures as well as your income. Do not forget to offer yourself some freedom – a tiny emergency or various expense amount. Take a great hard look at just what you can pay for to repay if you borrow for combination.

Can settling a debt hurt my credit? – Debt Help

Credit Card Settlement — Settle your debt

Typically the biggest credit drop does not come from the settlement of your debt. It comes from the activity prior to the settlement of the debt. First of all, a lender is not going to be willing to forgive a portion of your debt to them unless they feel they might soon be included as a creditor in a bankruptcy and they run the risk of getting nothing. So typically the strategy before you try to settle your debts is to fall behind. This is never recommended UNLESS you truly are seeking a bankruptcy alternative or you truly have exhausted all other avenues for keeping the debt in good standings. When the debt falls behind that will cause the first drop to your score. While the debt is in default the creditor will start to add late payment records to your report. Remember, FICO uses payment history to calculate 35% of your credit score. The next thing that could hurt you is if the account is turned over to a third party collection agency. When this happens the creditor will close out the debt, mark it as “transferred to another lender” and then the collection agency will create a new trade line in their name. This will make futures creditors feel that there are more negative records then the actual scenario.

This is an extreme scenario and not usually the norm. Most people who are entertaining settling a debt have already fallen behind. They have taken the maximum impact to their score. Paying off the debt at this point and having a portion forgiven will not have a negative impact. At this point a consumer should try to save as much money as possible to bring their financial situation back in order. Remember, the creditor at that point has usually collected years of interest, fees and merchant fees. Also, your credit card company has probably sold the debt to the collection agency for ten cents on the dollar and the other 90 cents has been placed on their tax return as a loss. This allows them to reduce their taxable income expense.

Let’s sum things up. Settling a debt is a great idea. Save your money. But, only if you’re fallen behind or you are entertaining bankruptcy.

If your debt is up to date try and work on a payment plan at a reduced interest rate so you will not take a credit drop.

Feel free to contact our office for a FREE debt analysis. Credit Repair is serious business.

Credit Repair Reviews – Check out the latest

I was referred to *** and his company from a client of mine and all I can say is “WOW!”. Everything said about this company is true! They are outstanding. I have been using them since the end of February and in just this short amount of time, They have gotten a majority of derogatory files off my credit report and my FICO score has reached ***! Take it from me, my credit was in rough shape with debt and a foreclosure and all sorts of bad marks down in the low ***’s. I would highly recommend this service to anyone not knowing where to turn to improve bad credit! Unreal customer service and quick turn around time! Thank you! Check out our Better Business Bureau reviews for an unbiased review of Key Credit Repair.

BBB Review 6.18.13 – Reviews

Better Business Bureau

“I am very satisfied with the service I received from Key Credit Repair. My credit report history has been completely cleaned within 3 months. I had incorrect and old accounts information with the 3 main credit bureaus that needed to be reviewed or removed. The personal involvement of Nikitas Tsoukalis (the owner of this business, I assume) and all his team since the very beginning of the process has been essential for me to feel comfortable and put all my trust in this credit repair provider. That trust has been kept and even progressively improved along the process. I have always received good/relevant information, and experienced fast support/replies. This is a secure and very serious way to conduct businesses. I strongly recommend it. Thanks so much for your help!!!”

Carlos

More Tip on How To Fix Your Credit

Repair Your Credit rating By Adhering to These Simple tip

Bad credit rating does not take place overnight; it takes a while for the missed settlements to pile up. So when they do accumulate and also you’re left with a bad credit rating, it can take some time to sort everything out. Utilize this guidance to take care of your situation as well as make inroads right into the trouble.

A crucial suggestion to consider when functioning to mend your credit is to ensure that you just acquire choices that you REQUIRED. This is exceptionally vital because it is really simple to buy products that either make us feel comfy or far better concerning ourselves. If it will aid you reach your goal, re-evaluate your scenario and also ask yourself before every investment.

It is a bad idea to intimidate credit rating companies that you are attempting to negotiate with. You might be angry, however just make risks if you manage to back them up. Make certain to behave in a collective manner when you’re handling the debt collection agency and also creditors so you can negotiate with them.

You can evaluate your credit history guide for free of cost annually from the 3 credit agencies. Having the wrong information on your credit report can ruin your rating, or cause you to be rejected for a lending.

It is important to have 2 major credit card accounts open as well as reflected on your credit history guide. These accounts need to likewise have all the available credit history still on the cards. Having 2 significant charge card shows partnerships with Credit-card business, and as a result, without these relationships or with more than 2, you are considered a credit rating danger.

If you are struggling to make the repayments on your existing home loan, think about considering the option of funding modification. In a lot of cases a lender might have the ability to lower the interest rate that you had actually initially settled on. This process made use of to be just for houses that were in risk of repossession yet several lending institutions are now extending this solution to many others.

The better your credit report is the better prices you are getting from your insurance policy company. Pay your bills punctually each month and your credit score will increase. Decrease the amount of money that you owe on your charge account as well as it will increase even more and also your costs will decrease.

If you do not recognize why you have bad credit, there could be errors on your report. Get in touch with an expert who will be able to recognize these errors as well as officially fix your credit report record. Make certain to take action as soon as you believe a mistake on your record.

The globe provides little compassion for folks who have bad credit, that’s why it’s so essential that you take the necessary action to repair your credit report as soon as possible. Make use of the information you discovered right here to repair your credit score completely as well as get out of debt altogether.

An important pointer to think about when working to fix your credit is to be sure that you just get things that you NEED. It is a bad suggestion to threaten credit history companies that you are trying to function out a bargain with. You can access your credit history guide for totally free yearly from the three credit bureaus. It is crucial to have two major credit report card accounts open and also reflected on your credit record. Having 2 major credit rating cards shows relationships with Credit-card companies, and also consequently, without these relationships or with more compared to 2, you are watched as a credit report threat.