I got an email today that Experian (one of the 3 credit Bureaus) has made their decision on their investigation into my credit report mistakes (or at least the one that I reported).

Results: They deleted the account in question. That account was hurting me as it was showing wrong balance, and wrong closing date. So my credit report is slightly better now. Still a long way to go.

But if there is a mistake on your credit report, simply file an investigation form and let bureaus fix it.

Categories: Credit Tips
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I just checked my credit report today and there were 3 different (negative) information on them. There were about 3 credit cards that I had and had closed but were showing up as open. Worse than that was the fact that it was showing I’m over my limit on them too. I had payed them off over a year ago and they should have been taken off but they weren’t.

It is very important that you check your credit report to find such mistakes. They can cost you a lot of trouble.

It is not too easy to make those changes though. First call your credit card company and ask them if they have reported the card closed (or whatever your issue is). If they have not, ask them to do so, and if they have and they can’t do anything else, simply file disputes to all three credit agencies. It takes on average 2 weeks for them to process disputes but it could take up to 45 days.

Categories: News
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As I said before, I have paid all of my credit cards off. But I realize that there are many people who can’t pay their debt off and are struggling to get back on the track. So I decided to do some research about ways that you can get rid of your debts (pay them off, consolidate, and more) and write a post about it here - without any affiliation or bias toward any service that is offered out there…

There are actually quite many options in front of you if you are in debt and it seems like you can’t get out of them:1- Debt Consolidation: is when you owe money to different credit companies and can’t make your minimum monthly payments. You can go to one of the debt consolidation companies and they will pay your debt off. Now you owe all of that previous money to only one company who understands that you are in financial trouble. So they usually give you a better interest rate and lower your monthly payments - sometimes the debt consolidation companies simply negotiate with your current credit card companies to get you the better rates and lower monthly payments.This way you can start paying the minimum amounts, which in time pays your debt off and also builds your credit back. However, be careful as there are many dishonest debt consolidation companies. So it is always a good practice to read some reviews about whoever you are trying to contact before actually doing business with them. Here is a calculator that can show you how much you can save by consolidating.

2- Get money: Obviously if you can get your hands on a good amount of cash you can pay your debts off and with some self restraint you can get back on the track. One way is getting a school loan (if you are in school) more than what you really need for school (sometimes this is against the loaners policy so read their policies first) and use the money to pay your debt off. You can also get a new mortgage on your house. This is exceptionally good right now due to low interest rates. But remember money doesn’t solve money problems. If you pay your debts off you still should be careful not to get back to where are right now.

3- Bankruptcy: This should be your last resort. Filing bankruptcy is really bad for your credit and it take decades to recover from. But you always have this option if you have absolutely no other options. I will later write a complete post just on bankruptcy, how it works, how you can file one, and how it will affect you.

Categories: Paying Your Debt Off
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First step for me was to pay my credit cards off. I was in school last year so I could get additional school loans from private lending companies. I got the loan and used it to pay off all my credit card debt. I figured I would start making money once I am out of school and be able to pay for the school loans, but I couldn’t do that once I was in school…

Now I have paid off all my credit cards and have closed all of them except one (i will discuss why I kept one open in later posts).

My next step is to pay a $650 that I owe for a hospital bill. I didn’t pay that on time so it is now been referred to a collection agency. I have the $650 in my account (sold one of my websites) so I will pay that soon and go to the next step of improving my credit.

Categories: Credit Tips
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Hey,

These days there are many people with bad or low credit score. I’m one of them. I got to this point mostly because of my own mistakes. I was young, in college, spent money that I didn’t have (credit cards) and couldn’t pay the minimum payments on time.

Now, I want to fix my credit score. I don’t want to be punished for my mistakes the rest of my life. For one thing, I’d like to buy a house with good loan rates.

In this blog I will post steps that I take to fix my credit and every new tip that I learn. I will post success or not success of my methods and we will track my credit score together.

Categories: News
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