Credit Help Center

A high credit score is crucial for your financial life. In order to get any type of credit you need to have a good credit score. A good credit score will affect the interest rate that you get as well as whether you can even get the credit at all.

Credit repair may be challenging but it can be accomplished. Many people have overcome difficulties in the past and it is necessary for many to repair their credit. If you have inaccurate or erroneous credit on your report you can issue disputes to get it removed. You can do this yourself or you can get a professional to assist you.

A few things that are crucial to improving your credit score are things that you must do on your own. You should do these things before you attempt other types of credit repair.

All of your payments must be up to date and paid on time. A large part of a credit score is based upon the consistency of on time payments. Try to pay on time, every time.

Another thing to consider is paying down your balances. Credit scores are based on the amount of available credit compared to how much credit is in use.

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Plant Performance Services. located at 1520 S. 129th West Ave. in Sand Springs will be shutting down its plant on December 23.

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South African company Investec is preparing to sell a package of subprime mortgage securities, the first since the mortgage crisis pounded economies worldwide. The potential reopening of the subprime mortgage bond market in Europe is seen as significant by investors and bankers alike.It may be significant for borrowers as well.

Securitization, which involves taking a pool of mortgages and creating bonds bonds backed by repayments of the loans, was an important form of funding for banks before the crisis. By selling these loans rather than keeping them in-house, banks were able to lend more.

The company has several tiers of loans, ranging from non-conforming products for people with decent credit but hard-to-prove income (comparable to American Alt-A products like stated income loans) to real subprime mortgages for people with bad credit.

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If you just signed up with a debt consolidation company, or you’re thinking about signing up for one, you’re probably worried about your credit score, and I don’t blame you.  Since many people take this route to avoid situations such as bankruptcy, and more, let’s take a look at how it should affect your credit score.

How the debt consolidation process works

I don’t mean to be blunt here, but debt consolidation is for those that are lazy.  Basically they do the dirty work for you.  They will negotiate for you, as well as give you one bill, rather than 15 each month.

An example that you can use…

For example, let’s say that you have 10 credit card / student loan based bills, and more.  Let’s say that the total of them equal out to $1,200 a month for a minimum payment.

The consolidation cop many will call up each one and try to get the bill lowered.  Now, they will add a “consultation” fee on top of it and you will pay one bill, rather than 10.

How it affects your credit score

Now, as long as the company is doing their job and paying the minimums on all  the bills, you’re going to find that you won’t have a problem at all.  It will be as if you’re paying the bills.  The more you pay, the lower your debt to income ratio becomes, therefore increasing your score, rather than lowering it.

Can it lower your score?

The only way that it is going to lower your score is if you stop paying your payments to the company, or you signed up with a company that isn’t living up to their word.

This is why you should get evidence each month on how they are paying your bills.  You will want to make sure that you get proof that they are paying each and every one of them.   A good company will send you a statement at the end of each month.

Overall, as long as you pay the payment to the debt consolidation company each and every month, and you’re dealing with a legit company, you should be okay with your credit score.

Debt settlement requires that you negotiate with creditors to settle debts for less than what you owe. Once an agreement is reached, you pay the agreed amount and your liability for that debt goes away. What these debt settlement companies don’t tell you is that you will also receive a 1099 tax form they filed with the IRS. Now that the debt is gone, you’ve got a tax bill for that settled debt. So, not only have you paid to get rid of the debt, you owe income taxes too.

Too often, hiring a debt settlement company to help you negotiate with creditors can cost in the thousands of dollars. What happens is that they set you up on their payment plan and then the debt settlement company begins taking your money first for their fees and never paying a dime to your creditors until their fees have been paid in full.  Many consumers end up in litigation with their creditors and these companies do nothing to assist consumers until they’ve been fully paid.

Here’s an example: Say you owe $5000.00 to credit card and you’ve done well and negotiated this debt down to $500.00. You must

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