Category: Building Credit

Amazon Credit Repair Books, Building Credit, Consumer Credit Education, Credit Repair, DIY Credit Repair, Fix Credit, Payoff Credit Cards, Repair Credit

FICO Score Secrets

The Secrets behind the FICO Score If there was a number which could represent your financial well being to the companies you have to do business with in life, it would be your credit score. This secret number influences how much you pay for car insurance, your vehicle, your rent or mortgage payments, cable and phone down payment amounts and even employment decisions. If you aren’t completely sure what a credit score is and how it works, take a moment to review this important information. Your credit score is basically an algorithm that calculates a lenders risk of doing business with you. It is based on several factors, which each affect a percentage of your score.   Payment History – […]

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Building Credit, Collection Accounts, Collectors

Paying Collection Agencies

Paying collection agencies is not always the right thing to do if your primary concern is increasing your borrowing potential. For several reasons, paying collection agencies is something can have a very negative effect on your borrowing ability due to the negative effect on your credit score that it causes. Making regular payments to a collector will also usually greatly lengthen the statute of limitations, or amount of time the collector has to sue you in court. If you are considering, or already have begun paying collection agencies, I would suggest considering the benefit that you will receive from paying a collection agency, versus the other benefit you could receive by extending an alternate offer to the collection agency. Many […]

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