Raise Credit Score Now
Posted on August 10th, 2010
During recessionary times, it’s always a good idea to regroup and to think about the subsequent move before jumping ahead. Especially now, it isn’t a good idea to leap into the next-best thing. This is particularly true if you would like to learn how to mend subprime credit. Too many of those Oldschool residential home-loan brokers have nothing else to do these days so they’re hawking the latest credit correction scams. Don’t fall for this as a way of credit report repair. If you actually want to extend credit history, follow the attempted and the true methods to mend credit.
The start of any project to clean up your credit history is to get copies of your credit file. This is vital because credit is dynamic and it changes daily. Today’s 800 credit report score could be 782 tomorrow. This is because you are paying your debts and charging and credit is expanding and contracting all of the time. Added to this is the indisputable fact that time has a certain factor on credit worthiness scores. Old credi
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Pay Down That Debt Now!
Posted on July 22nd, 2010
So, you’d like to pay down the balances on your credit cards and other debts and get some much-needed sleep. But how to do it??
One debt-reduction plan, touted by economist Dave Ramsey, is known as the “snowball plan”. Here, as reported by Chicago Tribune reporter, Gregory Karp, is a brief synopsis of the strategy.
· Stop borrowing money.
· Stop saving money. If you are accruing interest at 0.5% on a savings account but are paying 18% on credit card balances, it just doesn’t make sense. An exception may be contributing to your 401(k) plan.
· Start the snowball. Excluding your mortgage or rent; pay down your smallest debt as quickly as possible by putting every available there. Make minimum payments on other debts. This will provide a “quick fi
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