Fix My Bad Credit Score

Reader’s Question:

What are the ways by which I can consolidate my debt and get bad my good credit score?

Gina

Atlanta, GA

Hello, Gina.

A good credit score is very important in your daily life. If you will settle your messed up credit any sooner, you will save yourself the stress factor and inconvenience of having to think about your debts and be harassed by debt collectors.
You might want to consider having a debt management plan from a debt consolidating agency that will give you credit counseling.

This will involve execution of an efficient budget plan to help you fix your bad credit score and help you maintain a good credit score and to never get stuck in debt all over again. This will be all about controlling your spending so you never get into trouble with a messed up credit all over again.
Remember that a good credit score can do many things for you. It gets you approved very quick in your loans applications, car or property purchase, and even gets you the job (some companies check your credit score during screening).

Just be sure that you consult a reputable credit management company to help you get back your good credit score. There are many credit counseling agencies out there that charge unreasonable fees and I do not want you to fall into that trap. Check with the government first and other national organizations to see if that company is accredited.

You are making use of offshore banking if you are using the services of a bank that is present in a different jurisdiction or country than where you live. When local security is threatened by political instability or possibility of future legal lawsuit, this is the preferred method of transaction that will safeguard the investment in any catastrophic situations in the original country. The word ‘offshore’ was coined from the Isles of the British Channel. These places were considered to be tax havens and were really offshore from the UK. boundaries of jurisdiction. These tax havens were located offshore off the mainland, and since then the word stuck as a popular term to define such transactions. The islands became hot favorites for all countries to start banking with them due to the tax advantages and their regulations.

It is true that offshore banking attracts less rules and regulations than inland banks ..

Source: finance management

Reader Question

Can I get title insurance from my auto insurance agent?

Alice, Trenton NJ

Hi Alice, no you can not…not usually that is. Title insurance is totally different from home, auto or life insurance policies. You need title insurance when you are in a real estate transaction. Your real estate agent or mortgage bank will usually recommend a title company to you.

I see a few title companies listed on this site as well…..

Reader’s Question:

I disputed a debt which is not mine over the phone. Is that enough to invalidate such debt?

Lai

Newport News, Virginia (VA)

In order for your dispute to be valid, your debt validation request should be sent to the collecting party in writing. You may dispute part of the debt, the entire debt, or even request the name of the original creditor. The debt collector cannot contact you after receiving your dispute until substantially providing you with the information you requested.
It is best to send your letter through certified mail with return receipt requested. By doing so, you will have proof of the letter’s mailing and receipt of such by the debt collector. It can strengthen your case in the event that you would resort to lawsuit against the debt collector.

Reader’s Question:

My mother has credit card overdue and debt collectors call her almost everyday. Even if I know she is financially responsible to pay her dues, I find it bothersome that debt collectors do not observe proper time to call. Is there any law regulating the hours allowed for debt collectors to call?

Michelle

Bakersfield, CA

To eliminate inconvenience caused by debt collectors who call anytime, the Fair Debt Collection Practices Act (FDCPA) established guidelines regarding the allowable time for debt collectors to call you. According to such guideline, they can only call you between 8am and 9pm on you local time. They can call you at work only if they do not know that your employer disapproves of entertaining calls from debt collectors. After receiving a cease and desist letter, debt collectors can call you once more. Moreover, collectors cannot call you during times “which should be known to be inconvenient”. You should express this when they call you at a bad time by saying “This is not a convenient time” and specify a time convenient for you.

Reader’s Question:

Is it a wise decision to loan for a house and lot purchase?

Tim

Colorado Springs, CO

Before you decide to loan for a house to live in, consider among many factors your capacity to pay by checking whether or not your current actual income is sufficient to pay for the amortization. Loan institutions will normally charge processing fee on top of your proceeds and interest and it is important to canvass from a number of loan sharks and banks before you accept the loan offer.

By making sure you have the capacity to pay before you accept any loan offer, you are guarding your credit standing and would save you the risk of being in a bad debt in the future. You do not want a mortgage lender to deny you in the future if you have any other loan needs such as for a car or business capitalization.

Reader’s Question:

It is my first time to apply for a credit card. What factors should I consider in selecting a credit card?

Raine

Los Angeles, CA

You need to know some basics about credit cards like the numerous types according to its terms and conditions (including options). It is also helpful to know various credit card features, including interest rates and credit limit, which normally affect the cost of the credit card. You have to understand the billing process so you’d know how you are being charged by the credit card company. So you can avoid paying some fees, know how you can pay your bills to avoid incurring any penalties and charges. By choosing the right credit card with care which is fit for your spending habits and lifestyle, you will save yourself from using a card that does not compliment your purchasing requirements.

Always keep your credit card applications to a minimum so you can protect your credit status from the start.