Fix Credit Report

Posted on Monday, 2nd November 2009 by Admin

Everyone knows it is important to put money aside for a rainy day, but actually finding that extra money can be quite a challenge. One of the most common reasons people give for failing to save is that there is no money left at the end of the month. When there is no money left over after paying bills and meeting routine household expenses it is nearly impossible to build up either a short term emergency fund or a long term nest egg.

Even so, it is important for every worker – no matter how much or how little they make – to pay attention to savings. Without an emergency fund the loss of a job or a sudden unexpected expense could be devastating. Liv Read more…

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Posted on Sunday, 1st November 2009 by Admin

Starting a small business involves a huge amount of money, which most people get from loans. In order to qualify for good small business loans, however, you need to have an impressive credit rating. Before you apply for a small business loan, make sure that you are in good credit standing. Doing so lowers your chances of your loan application getting rejected. Here are the most important things you have to do to ensure that you have a good credit rating:

1. Get in touch
Get in touch with any of the credit reporting agencies — Experian, Equifax or TransUnion — and request for a copy of your latest credit report. Read more…

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Posted on Friday, 30th October 2009 by Admin

Credit Tip! Tell the CRA what information you believe is inaccurate on your credit report. Include copies, never originals of documents that support your position.

Ready to apply for a mortgage loan? Thinking about getting a new credit card? Before you do, you may want to review a copy of your credit report to ensure that all your information is accurate. And, fortunately, there are quite a few ways to obtain a free copy of your credit report. Here’s how:

Make a phone call

There are three major credit reporting bureaus: Equifax, Experian and TransUnion. They are legally required to provide you with a copy of your credit report–for free!–once a year. And o

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Posted on Thursday, 29th October 2009 by Admin

If you are planning to buy a home next year, in 2010, should review your credit score right now. If your score is high, you’re in a good position to apply for a mortgage loan. But if it’s low, you need to work on fixing your credit score before you start applying for loans. Here’s why.

Mortgage underwriting guidelines will be stricter in 2010 than they were in the past. Lenders are simply unwilling to make risky loans these days, following the wake of the subprime crisis that devastated our economy. So you will need to have your financial ducks in a row if you want to be approved for a loan. Among other things, this means fixing a bad credit score (if you happen to have one). Read more…

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Posted on Wednesday, 28th October 2009 by Admin

United States automakers are engaged in a struggle to survive and, in their fight to avoid complete insolvency, are making use of drastic, even unorthodox, measures. While, in today’s economic climate, governments bailouts seem neither drastic, nor unorthodox – everybody’s doing it, or so it seems – some of the other steps the big three are taking are certainly unusual.

It looks as if banks are lowering their standards for approving consumers for a car loan, at least a little. In March, 2009, the average FICO score for new-car buyers, 722, hit its lowest level since May 2006, according to CNW Research.

In November 2005, the average FICO score for financing a new-car buyer was 681, which was the lowest level recorded.’

The 722 average FICO score for March includes buyers who took out a car loan, lease and paid cash. It excl

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