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Credit Reporting System Gets Overhauled

credit repair service

Changes to the Credit Reporting System have been announced which will change everything.

1. Consumers will now have access to 2 free credit reports per year at www.annualcreditreport.com. To get your second free report, a consumer will need to have initiated an investigation with a credit reporting agency and had a change to their credit report take place due to the investigation.

2. Medical debt in collections will be subject to a 180-day waiting period before reporting on a consumer’s credit report (previously 30 days). This will help mitigate the damage collection agencies do against consumers because of delayed payments from insurance companies. According to a recent report from the CFPB, about 43 million Americans have unpaid medical collections reporting on their credit reports.

Now, here’s the BIG News!

3. The 3 credit reporting agencies – Experian, Equifax, and TransUnion – will change how they investigate errors and process disputes on consumer credit files. Actual human beings will now review the errors in question and process investigations on behalf of the credit reporting agencies. This is a HUGE change to the highly automated credit reporting process in which only 15% of investigations were processed by the credit bureaus. The remaining 85% of the investigation requests were forwarded to creditors, so that they could investigate and police themselves.

According to these new changes, trained agents will review disputes sent in to the credit bureau and conduct an actual investigation into the accounts in-question instead of passing the buck to the creditor. This should make fixing consumer credit errors much more simple and make the entire credit repair process much faster and more efficient.

If you’re ready to take advantage of these changes, get started today.

 

Why Choose CreditFirm.net?

Assurance. Our Credit Repair process was developed by experienced attorneys.

Speed. Documents are typically processed and sent out for investigation within 3-5 days.

Support. Award winning customer service guarantees your satisfaction.

CreditFirm.net Review

Lexington & Concord – A Credit Revolution

February 12, 2015 by  
Filed under Blogs, Credit Repair, Misc

Credit Revolution

On April 19, 1775, the American Revolution had officially begun with the battles of Lexington and Concord. The British Army sent a Regiment of 700 soldiers to Lexington and Concord in order to destroy an American cache of weapons and capture Samuel Adams and John Hancock. The colonists were warned that ‘The British are Coming!’ by Paul Revere, which allowed time for Samuel Adams and John Hancock to escape and to move the weapons.

When the British arrived at Lexington, they were met by 80 brave American militiamen. Outgunned and outnumbered, these brave 80 men stood tall against tyranny.

No one really knows who fired the first shot, but it became the first shot of the American Revolution and the start of the war, now referred to as the “Shot heard around the world”.

And although the British overran Lexington, the American forces regrouped at Concord, delivering a decisive blow, defeating the British Army, and marking the first victory of the American Revolution.

These battles gave the American people the confidence and courage to unite as one nation and push back against the mighty British Empire.

240 years later, a new revolution is at hand, a Credit Revolution.

For far too long, the credit reporting agencies have been handcuffing consumers with bad credit by limiting their ability to improve their quality of life. Keeping them in a viscous circle of being unable to qualify for a mortgage, auto loan, or even a business loan.

The system is broken. Predatory and Sub-prime lenders exploit vulnerable borrowers by trapping them in high interest loans which lead to increased indebtedness.

The system is setup to take as much as possible from those who have the least and this imperils the stability of wealth in many communities and secures the chains of poverty on those with bad credit scores.

It’s time to stand up for yourself and for your family. The nation that Samuel Adams, John Hancock, and Paul Revere helped form protects you from the credit reporting agencies through laws like the FACTA, FCRA, FDCPA, and many others.

Use those laws to push back against the tyranny of the credit reporting agencies. Declare your credit revolution and take back your unalienable rights of Life, Liberty and the pursuit of Happiness.

All of us here at CreditFirm.Net would be honored to assist you on your path toward better credit and a better life.

Start your credit revolution, fire the first shot by signing up with CreditFirm.Net today.

 

Why Choose CreditFirm.net?

Assurance. Our Credit Repair process was developed by experienced attorneys.

Speed. Documents are typically processed and sent out for investigation within 3-5 days.

Support. Award winning customer service guarantees your satisfaction.

CreditFirm.net Review

How To Get Good Credit

by: .

credit score meter

Want to have good credit and all of the perks that come with it?

Your credit report is used to determine how much you pay for your mortgage, auto loan, credit card, insurance, and even whether you get a job. Wouldn’t it be great to get the best rates on all of the above without worrying about having to use cash.

So how do you get good credit?

Pay your bills on time

There’s no surprise here, 35% of your credit score comes from your payment history. Pay your bills on time and your score will be rewarded, make a late payment and it can cost you as much as 100 points. Get your finances in order, set up auto payments, and make your payments on time, every time.

Keep Your Credit Card Balances Low

Maxing out your credit cards lowers your credit score. Why? Simple, it looks like your short on cash and can’t afford to pay your bills without the help of credit cards. On the flip side, carrying a low balance shows that you’re just using credit cards for convenience. So how low should you keep your balance? Your balance should be below 20% of your credit limit.

Don’t Apply For Too Much Credit At Once

Every time you apply for credit, an inquiry shows up to your credit report. Applying for too much credit at once lowers your credit score because it makes you look like your running out of money. So limit yourself to no more than one application for credit every 6 months.

Don’t Close Old Accounts

The average age of your open accounts counts for 15% of your credit score. Closing old accounts shortens your credit history and lowers your credit score. Keep your accounts open and active.

Need Help?

Whether you you have a question, need a consultation, or want to use our services to improve your credit score, CreditFirm.Net is here to help. So don’t be shy, just ask.

 

Why Choose CreditFirm.net?

Assurance. Our Credit Repair process was developed by experienced attorneys.

Speed. Documents are typically processed and sent out for investigation within 3-5 days.

Support. Award winning customer service guarantees your satisfaction.

CreditFirm.net Review

3 Ways To Improve Your Credit Score

November 5, 2014 by  
Filed under Blogs, Credit Repair, Credit Score

by: .

fix credit

Credit scores can seem pretty confusing, and fixing your credit can feel like a daunting task to even the most financially savvy consumer. But, there are a few simple things that you can do to improve your credit scores in a relatively quick time.

Here is a list of 3 things you can do to increase your credit scores.

1. Pay Your Bills On Time

Your payment history accounts for approximately 35% of the overall credit score, so making sure that your making all of your payments on time should be your number one priority. A single late payment can cripple your credit and lower your credit scores by 100 points or more and report for 7 years from the date it occurred.

Setup automatic bill pay, put all of your bills in a calendar, leave sticky notes all over your home, do whatever is necessary in order to make sure that your bills are paid on time, every time.

2. Pay Down Your Credit Cards

One of the biggest factors used to aggregate your credit scores is the proportion of debt you have in relation to your credit limits. And one of the biggest mistakes that anyone can make is to max out their credit cards. Paying down your balances to 20% of the credit limit or less will undoubtedly increase your credit scores.

If the credit limit on your credit card is $1,000 – you will need to pay down your balance to $200 (20%) or less.

3. Sign Up With CreditFirm.Net

We have helped thousands of individuals improve their credit scores and positively impact their lives as well as the lives of those around them. Your credit score shouldn’t hinder your dreams, it should help to facilitate them. Time is the prime commodity in life, not money. How much more time are you willing to spend on waiting for your credit to improve? Get proactive and start doing something positive about your credit right now.

 

Why Choose CreditFirm.net?

Assurance. Our Credit Repair process was developed by experienced attorneys.

Speed. Documents are typically processed and sent out for investigation within 3-5 days.

Support. Award winning customer service guarantees your satisfaction.

CreditFirm.net Review

What’s Holding You Back From Perfect Credit?

by: .
850 credit score

What’s holding you back from a perfect 850 credit score?

Believe it or not, there are only a few main factors that are used to calculate your credit scores.

Based on these factors, and a credit scoring scale of 300-850,  the top reasons why your credit score isn’t higher is listed below, along with a few nuggets of advise on how to raise your credit scores.

The Top Four Reasons

1. Payment History

Your payment history accounts for 35% of your credit scores, and is the single most important factor used when calculating a credit score. Having red marks on your credit like late payments, collections, repossessions, etc…, lowers your credit score immensely.

What you can do

Pay your bills on time and fix your past mistakes. You can hire a credit repair agency to work on improving your payment history by leveraging consumer protection laws that clean up your credit reports. The Fair Credit Reporting Act gives you every opportunity to get your credit back in order, use the law to your advantage.

2. Credit Utilization Rate Is Too High

Your utilization rate is the percentage of credit that you owe (your balance) in relationship to your credit limit.

Example: Balance = $800 | Credit Limit = $1,000 | Utilization is ($800/$1,000) 80%

Lenders view a high utilization rate as a proven indicator of increased credit risk.

What you can do

Pay down your credit card balances and decrease your utilization rate to 20% or less. This means that you should never spend more than 20% of your credit limit.

3. Your Credit History Is Too Short

Your average length of open credit accounts for approximately 15% of your credit score. This shows lenders your experience with credit and lenders prefer consumers with a long length of credit over ones with a short credit history.

What you can do

Do not close old accounts, keep them active and open and they will increase your length of history. You should also limit opening new accounts because every new account decreases your average length of open credit. Be patient and your credit history will grow with time.

4. You have too many inquiries on your credit report.

Every time you apply for credit, a history of that application shows up on your credit report, this is known as an inquiry.

Inquiries are about 10% of your overall credit score and having too many of them drastically lowers your creditworthiness.  

Your inquiries can lower your score a small amount, typically 10 to 20 points.

What you can do

Apply for credit only when you need it and try to limit yourself to a maximum of one inquiry every 6 months.

If you have too many inquiries reporting to your credit reports, a credit repair agency like CreditFirm.Net can challenge those inquiries and work on removing as many of them as possible.

 

Bottom Line:

Pay your bills on time, keep your balances low, don’t apply for too much credit at once, don’t close old accounts, and if your credit report has a few red marks, hire a professional credit repair agency like CreditFirm.Net to help you fix your credit.

 

Why Choose CreditFirm.net?

Assurance. Our Credit Repair process was developed by experienced attorneys.

Speed. Documents are typically processed and sent out for investigation within 5 days.

Support. Award winning customer service guarantees your satisfaction.

CreditFirm.net Review

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