Oct 22
adminSeveral Ways Bet, Identity Theft, Loan Shop
The payday loan industry has had a surge in recent months due to the downturn in the economy. It seems like there is an advance payday lender on every corner of every town and every city ready to give you a loan on your next paycheck. You can bet that where there are people struggling to make ends meet there is a payday loan shop set up nearby. And if that weren’t convenient enough there are a million websites ready to serve this need.
But it is exactly this environment of urgent need that makes the online payday industry such a fertile ground for online scammers and frauds. Websites that are guilty of everything from tricking people into signing up for 30 day trials that end up charging when the trial date is up to flat out identity theft.
But if you are looking to get a payday loan, yes you can do it without getting taken. The solution is so easy no one should ever have to worry about being taken while searching for a loan. The problem is consumers just don’t know to look for it.
What I am talking about is the CFSA seal. The CFSA , which stands for “The Community Financial Service Association” is a regulatory service set up to oversee the loan payday industry. Simply Put, they are there to help keep you from getting robbed. Every payday loan service and website that the CFSA monitors is required to place the CFSA seal on their website in plain view. This ensures that consumers who know will be able to find whether or not the websites they are searching are covered. If you are searching the Internet for a payday loan, yes you can feel safe provided you know to look for the CFSA seal while you are doing so.
Jun 08
adminArticles 5 Steps, Automatic Payments, Bad Credit, Car Loan, Checking Account, Consumers, Credit Bureaus, Credit Repair, Credit Reporting Act, Credit Reports, Credit Score, Creditor, Creditors, Diversification, Fair Credit Reporting Act, How To Restore Your Credit, Identity Theft, Merchant Store, No Brainer, Two Ways
Credit repair begins with you. Many people have bad credit and they don’t even know about it or they think they have no way to repair it. Everyone has the right to see their credit reports and to repair their credit score.
I have listed the top 5 steps to credit repair and how to restore your credit today:
Top 5 Steps To Credit Repair
1. Pay Your Bills On Time – This sounds like a no-brainer, but I can’t stress how important it is. One little 30-day late payment will set you back a year or more. Set up automatic payments with all your creditors. If you can’t make a payment, call your creditor and make something work so that they won’t report it to the credit bureaus. You would be surprised how many times this works.
2. Dispute Negative Items – The main reason most people get denied loans is because of past negative items. A lot of the time these items aren’t even yours because of identity theft, reporting errors and other factors. The Fair Credit Reporting Act was implemented to allow consumers the right to dispute or verify any listing that is on their reports. 4 out of 5 credit reports contain errors, make sure yours is not one of them.
3. Increase Debt to Limit Ratio – Two ways you can do this, keep your balances low and increase your limits. Always make sure your balances are below 35% if possible. Increasing your limits will help the ratio as long as you don’t increase your debt on those accounts too.
4. Diversify Your Credit – This can difficult for some that can’t get a mortgage or car loan. Start with the basics, get a checking account with your bank with a line of credit. Get a credit card attached to your bank account. Then get a merchant store card. All these things will help your score by diversification A mortgage and car loan are the best ways to diversify, but take time to get up to.
5. Contact Your Creditors – Creditors want their money too and they will negotiate to get it. Make sure you have talked to your creditors before paying off a bill. Use your leverage to negotiate the removal of the negative items upon final payment.
There are many factors that can contribute to low scores, but credit repair can help bring it back up again. I urge you to use these steps to repair your credit today and get your finances back on track.
In 2009, the leading credit repair service forced the credit bureaus to remove over 1 million negative items. See how 500,000 clients used these credit repair methods to get the credit score they deserved.
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