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Credit with Chris Newsletter

cbridges — Wed, 16 May 2012 14:50:29 +0000

If you missed our newsletter click HERE. If you want to receive this in the future, please send me an email requesting to be added to our database. Thanks and hope you enjoy!

It is illegal or immoral to have the information on your credit report altered or removed?

cbridges — Mon, 07 May 2012 20:47:22 +0000

Not only is it NOT illegal or immoral, but it is what the Fair Credit Reporting Act is all about. This law was enacted by Congress for the very purpose of protecting consumers from the intrusion of the credit bureaus into our lives. You didn’t give permission to the credit bureaus to report negative information about you, so don’t you think you have the right to have it removed? Call us today for your free credit assessment!

5 Things You Need To Know About Identity Theft

cbridges — Thu, 03 May 2012 01:02:09 +0000

(CBS News) Identity theft has become the top consumer complaint in the U.S., with about 10 million victims each year.

So what should you know to protect yourself? CBS News business and economics correspondent Rebecca Jarvis shared the five things you need to know about identity theft on “CBS This Morning.”

1. Your kids are at risk

According to the Federal Trade Commission, about eight percent of people under the age of 19 will have their identity stolen. But they warn that a lot of these are underreported, primarily because most parents won’t know there kids have had their identities stolen until they’re in their late teens and getting ready to apply for college loans or for a credit card. The best way to fight this is to get a credit report for your children. You get one free report per year so check that your child does not have a credit history – they shouldn’t. You can also check with the Social Security Administration to make sure no one is trying to use their number to get a job.

Check out http://www.cbsnews.com/8301-505263_162-57425830/5-things-you-need-to-know-about-identity-theft/ for the other 4 things.

New FHA Guidelines

cbridges — Thu, 26 Apr 2012 15:57:24 +0000

FHA recently announced a major change to their guidelines for borrowers who have unsettled or unpaid collections and gave further guidance to FHA borrowers who have open unresolved disputes reporting on their credit report. Borrowers with credit accounts in dispute will no longer need to have that dispute status removed or classified as resolved if the accounts meet these three conditions:

Total outstanding (cumulative) balance of all disputed accounts or collections is less than $1,000, and
Disputed credit accounts or collections are aged two years form date of last activity as indicated on the credit report
All judgments and liens must be paid in full and bankruptcy discharged

FHA has agreed to postpone this change until July 1st due to evaluate the negative impact; however, this could be a significant issue for a lot of borrowers. It is advised to get a jump start on resolving credit issues before you want to purchase a home. More details can be found HERE.

Co-Signing – Pros and Cons

cbridges — Tue, 24 Apr 2012 14:10:51 +0000

Having someone co-sign for a loan might be an option when you have been subject to major financial problem that has affected your credit score to such an extent that no one wants to lend you money. Since credit is essential for rebuilding your credit score this might be the only option available to get started again. By getting the assistance of a co-signer you will get the benefit of that person’s better credit record and that will help you to get a loan and one where you will possibly be able to get a reasonable interest rate.

On the other hand, there is a danger for both people with such an arrangement and even though your credit score might be low you don’t want to add more bad information to your records if your co-signer fails to make payments. Both you and the co-signer are responsible for the payments and any failure to make the payments required for the loan will result in damage being done to both yours and your co-signers credit scores.

Like anything else, think long and hard about co-signing, but with the right person it could be a good move.

Why does my credit score change from time to time?

cbridges — Tue, 17 Apr 2012 14:04:06 +0000

The credit bureaus calculate your credit score based on the information contained in your credit file. As your credit history changes, your credit score will also change. Some creditors only report information to certain bureaus and not to others, which will also cause the changes in the scores. In addition to the reporting variations, the information reported whether good or bad will impact your score. For instance, if you pay down a revolving account, your score may increase. However, on the other hand, if you are more than 30 days late, you may have a decrease in your score. Remember activity, whether good or bad, has an affect on your credit score, so stay committed to the good stuff!

It’s Friday the 13th? Have your bills been paid yet?

cbridges — Fri, 13 Apr 2012 17:50:35 +0000

Keep in mind that if you want to pay more than the minimum on your credit card or other revolving accounts then you want to pay it as early in the month as possible. When you make these payments later in the month you are paying the credit card companies more interest. Make the adjustment and save money!

Android Anyone?

cbridges — Tue, 10 Apr 2012 21:18:48 +0000

We are excited to announce our new mobile app now available on the Android market (IPhone coming soon). Please take a moment and download it at Credit with Chris. Get credit tips, download ebook, register for FREE assesssment, share with friends and even get a mortgage calculator – all on the mobile app! Stay connected to Credit with Chris – download today.

Spring Break is Here. Did you plan for it

cbridges — Fri, 06 Apr 2012 13:02:52 +0000

Spring break is either almost over or about to begin. Question, are you prepared for it? Have you put aside money to spend quality time with your family without going into debt? If so, great job. If not, let’s make better decisions for the summer break! Enjoy.

Credit with Chris Minute Tip

cbridges — Fri, 06 Apr 2012 12:58:05 +0000

Week 4 – Credit with Chris Minute Tip – Charge off

Minute Tip Week 3 – Collection Agencies

Week 2 – Credit with Chris Minute Tip

Week 1 – Credit with Chris Minute Tip