Fix My Bad Credit Score

Reader’s Question:

I’m getting tired of seeing hundreds of dollars fly out of my wallet just to pay off credit card debts that I incurred two years ago. I live in an apartment now here in Palmdale, California and with all my monthly expenses it would help if I won’t have to think too much about credit card debts. Can you give me some advice on how to get rid of my credit card debts as quick as possible?

Barry

Palmdale, CA

If you want to pay off your credit card debts in a timely manner, you must first forget that you ever heard the phrase “minimum monthly payment”. You need to find a way to double or even triple your payments each month. It may sound daunting but it’s no doubt the surest path to a debt-free tomorrow. You can start by making some small changes in your daily life to compensate. For example, instead off eating out, start cooking at home. You can also negotiate for lower interest rate on your credit cards. Try to reduce your energy bill and other utility expenses. Put away monthly charges you don’t really need like super-deluxe satellite television packages. When you down-size other bills, you can allot more money to getting rid of your credit card debt.

One more option I could suggest is debt consolidation. There are a lot of lenders in Palmdale, California offer debt consolidation. Or you can go with a lender you trust like your personal bank. Then try to arrange for a debt consolidation loan so you can use it to pay off your balances on your credit cards. That would be because the loan will likely to have a lower interest rate than your cards. You will end up with one loan instead of many indebted accounts, and you’ll have lower payments to deal with each month.

Tags: credit card, credit card debt, credit counseling, credit management

Reader’s Question:

Hi, my name is Elrose from Peoria, Arizona. My younger sister is planning to give her teenager a credit card and I’m trying to convince her not to. I don’t think teenagers can handle credit card debt, when I myself am having a hard time with my own credit card problems. How can I convince her not to give her child a credit card?

Elrose

Peoria, AZ

I absolutely understand your concern for your sister’s child. However, times have changed and there are actually a lot of credit cards on the market for teenagers that parents can use to help them understand and learn the basics of financial responsibility. Credit card makes great educational experience for teenagers before it’s too late to help them become financially responsible individuals. It’s really never too early to teach teenagers how to manage money. In fact, teaching them at a younger age can prevent them from over spending once they’re on their own. If a teenager enters the adult world with firm money management skills, they would be less likely to get in over their heads in debt.

If that still doesn’t convince you, one option I could suggest it to tell your sister to give her child a prepaid debit card instead of a credit card. There are several credit card companies in Peoria, Arizona that offer debit cards. Some debit cards may have annual fees or transaction fees which is also an opportunity to show a teenager how using a credit card isn’t the same as buying with cash. Also, you might as well want to think of it this way. Having a credit card handy can help teenagers handle an emergency that requires access to money which can give you and your sister peace of mind.

Tags: credit card, credit counseling, credit management

Reader’s Question:

I’ve been getting calls from credit card companies here in California offering a balance transfer with zero-percent interest rate and I’m thinking of accepting the offer. Question I have in mind is that will it be worth the trouble?

Celine

Concord, CA

A zero percent balance transfer offered by credit card companies in California or even in other states can be a great deal for people who monitor their finances closely. But if you’re not one of those few who do, you could just wind up spending more than you save.

Credit card companies that offer zero percent on balance transfers usually expects you to pay something for the privilege. For example, there’s often a fee to transfer that balance, or you may be required to make some sort of additional purchases per month. You should take a close look at the details before you make any decisions because zero percent deals often come with expensive strings attached. And for people who don’t monitor their finances, these offers could be dangerous. One way to use these offers to your advantage is to use them as a negotiating tactic with your current credit card company. Call them and let them know that you have these offers and ask them if they can match or even beat it. They may agree to lower your rate to keep you as a customer.

Tags: credit card, credit counseling, credit management

Reader’s Question:

Hi, I’m Shiana from New Jersey. Just about three months ago I got my very first credit card. The problem I’m having now is that I can never seem to understand my credit card bills. Can you give me a super easy way of understanding my card statements?

Shiana

Camden, NJ

Credit card statements can be difficult for a lot of people to understand. It can easily be overwhelming with all its information on charges, credits and APRs. Here are some tips on how to easily understand your credit card bills.

The information on your credit card statement includes purchase and new charges. This section shows an itemized listing of all of the charges you’ve made. To make sure that these are accurate, keep all of your receipts every month and compare them on what’s on your statement. Your statement will also include payment and credits where you’ll find details about any previous payments you’ve made, as well as credits you’ve received for returning merchandise. You will also find finance charges, APRs and previous balance on you bill. The finance charge indicates the amount of money you will be charged if you don’t pay your balance in full. The APR means annual percentage rate which fluctuates but shouldn’t vary significantly every month. And then your previous balance, that should line up with your bill form last month. But of course there is an array of things listed on your credit card statement. If you don’t understand any of the other details or you think there are discrepancies on your bill, contact you credit card company in New Jersey immediately. They should willingly take time to explain the finer points of your statement.

Tags: credit card, credit card debt, credit counseling

Reader’s Question:

I’ve notice that I am no longer able to save any from my paycheck. My credit utilization in Cambridge, Massachusetts MA increases every month. Can anyone offer me any quick tips on how I can avoid heading bankruptcy?

Trinie

Cambridge, MA

Managing finances is one of the most difficult scenario a person can get especially if you spend more than what you’ve earned. “Spending more than what you’ve earned…is but a common problem of the majority. Always remember the ceiling of your financial capacity before you indulge into some activity in Cambridge, Massachusetts MA that requires money. By doing so, you will be able to limit spending within your budget and stick with it. I know there are a lot of temptation out there in Cambridge, Massachusetts MA that tempts you, me, and other people to spend and spend more even though we don’t really need them. In most cases, we are simply drawn by good advertisements and bad spending habits, so we spend.

At the moment, you might be experiencing overspending from your actual avilable income. To avoid bankruptcy and be able to save some in the future, make sure at the present time you just spend for your basic needs. It is wiser is you never use a credit card in purchasing something in Cambridge, Massachusetts MA. As much as possible, if you wish to buy something that is not necessary save for it, by all means! That’s better than depending on your credit card for purchases, which can hurt your credit standing when it goes overdue and unsettled. Never ever entertain credit offers, especially if you can’t control your spending habits and lifestyle. Control…control…control…that’s the key to avoid over spending your earnings.

Tags: credit card, credit counselling, credit management, credit reports

Ashley writes in and asks:

Hi I’m trying to check my credit score but i cant because I don’t have a credit card to type in and all I want to do is just know what my score is one time so i can make it good so could you please help me.

Ashley,

What a good question. I had to go hunt down the answer but here it is, if you use the credit score or credit report link you can pay for it with a checking account or debit card.

Steve

Related Posts

Secret Credit Bureaus You Don’t Know About, But They Know About You

Just Got My Credit Score Online - Wohoo

Did You Know You Can Skip a Car Payment and Lower Your Monthly Payment?

Your Credit Card Limits May Be Cut While You’re Asleep

Will Your Identity Be Stolen and Your Credit Ruined While You Read This?

Increase Your Credit Score, Weigh Less, Be Sexier

a

How Do ..

Source: Credit Score

Reader’s Question:

My credit standing in Las Vegas, NV is in a very bad shade. I think I need professional help for my credit issues. Would there be any qualifications for me to be able to avail service of a debt settlement agency?

Caren

Las Vegas, NV

Nothing can give you more peace of mind that dealing with your debt problems as soon as you can. But the question that you might be asking is: do you qualify for debt settlement in Nevada?
There can be many ways of credit repair and acquiring a debt settlement is one way to deal with debt problems. Do you already know the steps required in getting approved for a debt settlement? You remember some points before seeking debt settlement in Las Vegas, NV.

First of all, you have to know the type of your debt. You also need to be aware that not all kinds of debt can qualify for a debt settlement. You can ask your local debt settlement company in Las Vegas whether the debts you owe are acceptable or not. Normally, the types of debt that are suitable for settlement with agencies are personal loans, medical debt, credit card debts- just to name a few.

Some debts that would not qualify which I can name are loans with collateral such as government loans, mortgages, car loans, military debts and loans from Credit Unions.
The good thins about consulting debt consolidation agencies is that you will be able to get sensible advise on how you can control your spending so you will never be in a bad debt again.

Tags: credit counselling, credit management, credit repair, debt consolidation agency, debt settlement

Reader’s Question:

I messed up my credit a great deal and I want to be out of my debts as soon as possible. Is there any agency or company that can help me manage my credit? My life in Tallahassee, Florida is very much out of sorts because of a bad credit.

Tommy

Tallahassee, FL

You better consult a credit management or debt consolidation agency in Tallahassee, FL. These agencies in Florida will help you execute an efficient budget plan or debt management plan not only to get free from debts but also to avoid getting stuck in debt all over again. Do you practically find it difficult to manage your finances or control your spending all the time? Then the problem that you have may be a lot more serious than you think.

Seeking credit counseling is a very wise decision for anyone who is immersed in a bad credit. This should help you take control of your finances now and forever. Just remember to check the background and reputation of the credit counseling agency you’ll run to in Tallahassee, Florida. This is because there are many false credit counseling agencies that do not offer help at all. These fraudulent companies, which might be around in Florida too, can charge unreasonable fees for their services and will not be a great help.

The company’s track record is so important that you need to do a little research in Tallahassee. Try not to be too desperate and choose one that is accredited by the government of Florida FL and national organizations.

Tags: credit counselling, credit management, debt consolidation agency

Reader’s Question:

My brother found that out that his credit card has been billed in error several in the past. The latest error was made two months ago when he was charged for something he did not purchase. He sent an e-mail to the credit card company only to get a response saying the issue should have been brought to their notice sooner. What should I do in case the same thing happens to me?

Dana

Clearwater, FL

The law identifies a wide range of card problems as “billing errors.” An example of error is being charged for something you did not buy which is exactly what your brother’s case has been.

Good news is that the law is on your side so you can fight the improper charge should the same happen to you or to him again. And what gives you the right to fight rather than pay is The Fair Credit Billing Act.

The important rule to be protected under this law is to dispute any errors you find on your bill in writing. And the best thing to do is to send a dispute letter ASAP because e-mailing or faxing a letter will not protect you. And the reason why you’ll have to mail your dispute letter quickly is because the deadline for notifying your credit card company is only 60 days from the date that the bill was mailed out to you.

Your letter must include your name, address, your account number as well as a clear description of the problem and don’t forget to keep a copy for your records.

Lastly make sure you send your dispute letter to the address for “Billing Inquiries,” which should be listed at the back of your bill.

Tags: credit card debt, credit counseling

Reader’s Question:

I’ve been down and out for over five years now because of my illness and I am unable to make any payment on certain credit card balances incurred in 2000 and 2001. But there hasn’t been any activity on these cards after 2001. I’m from Bridgeport, Connecticut and from what I know the applicable statute of limitations here is either three or six years and as I understand, I’m already beyond that. Can a collections agency continue to pursue me even if the statute of limitations has already expired?

Robert

Bridgeport, CT

The statute of limitations on a credit card contract does vary by state. For the most part of the US including Connecticut, the statute of limitations expires after three to six years.

The Fair Debt Collection Practices Act will help you in getting the collection agency to stop contacting you.

It’s vital that you don’t confirm the debt with the collection agency or make any type of payment on the account. You should also avoid any situation that could restart the clock on the statute of limitations. An attorney would be a huge help when in doubt on what to do next.

Most negative information when it comes to payment history stays on credit card reports for seven years from the date when the initial payment was missed which means this payment history should be dropping off your credit report. So I would suggest for you get a copy of your credit report confirming the information.

Tags: credit card debt, credit repair, credit reports