Comments for Credit Repair Update http://creditrepairupdate.com Thu, 11 Mar 2010 04:44:43 +0000 http://wordpress.org/?v=2.7 hourly 1 Comment on Credit Card Options For Minors by soundman_jaybee http://creditrepairupdate.com/credit-card/credit-card-options-for-minors/comment-page-1#comment-6945 soundman_jaybee Thu, 11 Mar 2010 01:38:59 +0000 http://creditrepairupdate.com/credit-card/credit-card-options-for-minors#comment-6945 you should be able to get a bank card, but I think you can't get a credit card until you are 18 (I think that is the case in the UK anyhow). The bank card will allow you to withdraw cash and can be used as a debit card. a debit card just allows you to withdraw and use cash directly from your bank account - a credit card will allow you to amass a huge debt...!!! Seriously, I would advise against a credit card, the longer you can survive without one, the wealthier you will be - believe me, i've been there (and I don't wanna go back - all my credit cards are cut up and thrown away) Best of luck<br><b>References : </b><br> you should be able to get a bank card, but I think you can’t get a credit card until you are 18 (I think that is the case in the UK anyhow). The bank card will allow you to withdraw cash and can be used as a debit card. a debit card just allows you to withdraw and use cash directly from your bank account - a credit card will allow you to amass a huge debt…!!!
Seriously, I would advise against a credit card, the longer you can survive without one, the wealthier you will be - believe me, i’ve been there (and I don’t wanna go back - all my credit cards are cut up and thrown away)
Best of luck
References :

]]> Comment on Credit Card Options For Minors by askingsumthing http://creditrepairupdate.com/credit-card/credit-card-options-for-minors/comment-page-1#comment-6944 askingsumthing Wed, 10 Mar 2010 20:36:21 +0000 http://creditrepairupdate.com/credit-card/credit-card-options-for-minors#comment-6944 <b>Bank account/credit card for minors?</b><br>i am a 16 year old and i'm wondering what options there are and how they work (i just started a part-time job) debit cards are fine also...i also know that i will need something from my parents which is ok too...i just want to know how it works...thanks! Bank account/credit card for minors?
i am a 16 year old and i’m wondering what options there are and how they work (i just started a part-time job)
debit cards are fine also…i also know that i will need something from my parents which is ok too…i just want to know how it works…thanks!

]]> Comment on Mortgage With Bad Credit - 4 Tips on Finding a Lender by Patrick B http://creditrepairupdate.com/bad-credit/mortgage-with-bad-credit-4-tips-on-finding-a-lender-2/comment-page-1#comment-6943 Patrick B Wed, 10 Mar 2010 01:57:59 +0000 http://creditrepairupdate.com/bad-credit/mortgage-with-bad-credit-4-tips-on-finding-a-lender-2#comment-6943 Hello Please e-mail me PBurke@prbinc.com There are a few thing we should go over before you buy a house.(yes its free) Just to tie up loose ends, which I found a few of in your brief description. I work for Price Raffel & Browne as a financial advisor www.priceraffelbrowne.com I can tell you we can get you a better interest rate and guide you properly through the process. My friend was in your position and ran into many costly middlemen, road blocks, ect. I will talk to you soon. Best Regards, Patrick Burke Price, Raffel & Browne The Leadership Edge For Financial Decision Making 475 Park Ave South - 18th Floor New York, NY 10016 PH 908-278-8284 E-mail - PBurke@prbinc.com www.PriceRaffelBrowne.com<br><b>References : </b><br>PRB Hello

Please e-mail me PBurke@prbinc.com There are a few thing we should go over before you buy a house.(yes its free) Just to tie up loose ends, which I found a few of in your brief description. I work for Price Raffel & Browne as a financial advisor http://www.priceraffelbrowne.com I can tell you we can get you a better interest rate and guide you properly through the process. My friend was in your position and ran into many costly middlemen, road blocks, ect. I will talk to you soon.

Best Regards,

Patrick Burke
Price, Raffel & Browne
The Leadership Edge For Financial Decision Making

475 Park Ave South - 18th Floor
New York, NY 10016
PH 908-278-8284
E-mail - PBurke@prbinc.com
http://www.PriceRaffelBrowne.com
References :
PRB

]]> Comment on Mortgage With Bad Credit - 4 Tips on Finding a Lender by Oops I did it again~ http://creditrepairupdate.com/bad-credit/mortgage-with-bad-credit-4-tips-on-finding-a-lender-2/comment-page-1#comment-6942 Oops I did it again~ Tue, 09 Mar 2010 20:55:13 +0000 http://creditrepairupdate.com/bad-credit/mortgage-with-bad-credit-4-tips-on-finding-a-lender-2#comment-6942 <b>Pre-Approval for mortgage. Best lenders in Northern NJ?</b><br>I'm ready to purchase a 1 family house. My credit score is 750+. I earn $100K a year. I have $32K in savings with $10K in 401K. My credit card balance is $0. My car/student loan is $400 a month. This is my first home so I'm interested in FHA. I only want to put down 5% or less as down payment. I will not purchase a home over $300K. My target is around $250K. I want to use a reputable bank / lender to get my pre-approval. I went into Chase and HSBC today. Do you recommend a bank or lender that worked well for you? I've found so many complaints about Chase and HSBC. Any advice or tips will be great! I'm looking in Northern NJ (Bergen or Passaic county) Pre-Approval for mortgage. Best lenders in Northern NJ?
I’m ready to purchase a 1 family house. My credit score is 750+. I earn $100K a year. I have $32K in savings with $10K in 401K. My credit card balance is $0. My car/student loan is $400 a month. This is my first home so I’m interested in FHA. I only want to put down 5% or less as down payment. I will not purchase a home over $300K. My target is around $250K. I want to use a reputable bank / lender to get my pre-approval. I went into Chase and HSBC today. Do you recommend a bank or lender that worked well for you? I’ve found so many complaints about Chase and HSBC. Any advice or tips will be great! I’m looking in Northern NJ (Bergen or Passaic county)

]]> Comment on Personal Debt Consolidation Loan: Consolidate Your Loans Into One by Bobby http://creditrepairupdate.com/debt-consolidation/personal-debt-consolidation-loan-consolidate-your-loans-into-one/comment-page-1#comment-6941 Bobby Tue, 09 Mar 2010 05:23:59 +0000 http://creditrepairupdate.com/debt-consolidation/personal-debt-consolidation-loan-consolidate-your-loans-into-one#comment-6941 Go to www.debtyourway.com. Let the professionals help you.<br><b>References : </b><br> Go to http://www.debtyourway.com. Let the professionals help you.
References :

]]> Comment on Personal Debt Consolidation Loan: Consolidate Your Loans Into One by Reena http://creditrepairupdate.com/debt-consolidation/personal-debt-consolidation-loan-consolidate-your-loans-into-one/comment-page-1#comment-6940 Reena Tue, 09 Mar 2010 05:21:59 +0000 http://creditrepairupdate.com/debt-consolidation/personal-debt-consolidation-loan-consolidate-your-loans-into-one#comment-6940 how to get out of this without ruining an already precarious credit score. 1. - Stop using any and all credit cards 2. - Pick one with a low balance and start making twice the minimum payment due on that card while all others get their "min. payment". 3. Once that card is paid off.... do a little dance and celebrate. You deserve it. 4. The paid off card gets put away.... I heard one person that literally put the card in a plastic cup full of water and set it in the freezer.... that card was out of commission. She was a "literal" person and froze that account.... :) 5. Pick the next credit card of your choosing and apply all the money that you used to send to the paid off card plus the min. payment due on this card and pay that card off.... 6. You get the idea.... everytime you have one card paid off the card goes into the ice grave, the payment for that card plus any previous card and the min. payment due on the next card.... gets applied to the next one that you are paying off completely.... Yes... it will take years... you may need to get a second job on the weekends for a while... but if you succeed you will have stellar credit and you will have learned a valuable lesson....<br><b>References : </b><br> how to get out of this without ruining an already precarious credit score.

1. - Stop using any and all credit cards
2. - Pick one with a low balance and start making twice the minimum payment due on that card while all others get their "min. payment".

3. Once that card is paid off…. do a little dance and celebrate.
You deserve it.

4. The paid off card gets put away…. I heard one person that literally put the card in a plastic cup full of water and set it in the freezer…. that card was out of commission. She was a "literal" person and froze that account…. :)

5. Pick the next credit card of your choosing and apply all the money that you used to send to the paid off card plus the min. payment due on this card and pay that card off….

6. You get the idea…. everytime you have one card paid off the card goes into the ice grave, the payment for that card plus any previous card and the min. payment due on the next card…. gets applied to the next one that you are paying off completely….

Yes… it will take years… you may need to get a second job on the weekends for a while… but if you succeed you will have stellar credit and you will have learned a valuable lesson….
References :

]]> Comment on Personal Debt Consolidation Loan: Consolidate Your Loans Into One by rayt721 http://creditrepairupdate.com/debt-consolidation/personal-debt-consolidation-loan-consolidate-your-loans-into-one/comment-page-1#comment-6939 rayt721 Tue, 09 Mar 2010 05:19:59 +0000 http://creditrepairupdate.com/debt-consolidation/personal-debt-consolidation-loan-consolidate-your-loans-into-one#comment-6939 Consolidating debt isn't going to boost your credit score. Your score is based on several factors which include history for one. With that in mind, you don't want to start to cancel credit cards (history). You have your score based on credit use to credit limits and debt to income ratio. Moving the balance from several cards to one card or loan isn't going to change those ratios. You owe what you owe. The few percentage points of interest in savings really isn't going to affect your financial life all that much unless you are planning to stay in debt for life by paying minimum payments. If that's your intention, again, a consolidation isn't going to work for you. You could consider a voluntary debt management program which can help reduce your interest and you'll have one payment each month, often with lower interest rates but you will have to cancel cards. That may or may not be wise for you. If you can't work your own plan then a management plan like with Consumer Credit Counseling may let you breathe easier but you still owe what you owe. The worst thing is to consider a debt settlement which tells creditors you are a deadbeat and they are lucky to get offers to settle with you for less than you owe. Your credit will plummet lower than it already is. Hmmm... what's the best option? First of all to look at your spending habits. It will do you no good to consolidate debts to one loan and go out to rack up another $20K in debt on the now freed up cards. You'll soon be in $40,000 of debt. You need a plan. You are going to want to tackle your bills with more than minimum payments. Find ways to decrease your expenses and/or increase your income. Those who fail to plan are planning to fail. List all of your debts. Take the minimum balances you are paying and divide the minimum payments. You'll get a ratio of which bills to pay off in what order. Continue paying minimums but add on more than minimum payments to the card (or loan) with the lowest number after you divide. Tackle the lowest ratio number with intensity and then put the same amount onto the next lowest score. As you see progress in getting rid of your cards (usually the smallest balances) you will be apt to keep going than if you try to tackle a $5,000 amount instead of a couple of $500 balances. Got the point? Consider taking on a part time job or business. Think about a roommate. Do you have any items that you can sell? There are many ways to reduce your expenses. Trade cable for netflix or library DVD rentals for free. Bring your own coffee to work instead of Starbucks. Bring lunches instead of fast food. Sure, you are thinking that is only $5 here and $12 there but add it up. Just putting $20 a month onto your debts will pay your debts faster. What I haven't mentioned yet is to STOP using credit... immediately. You will never get out of debt and you will never raise your credit score if you continue to dig a deeper hole for yourself. While it may feel like you are eating an elephant you do so with just one forkful at a time. It can be done. Plenty of people are or are becomming debt free. Try to save money for an emergency fund ($10 or $20 or $50 at a time) so you don't have to reach for those credit cards. Check out books at the library by Dave Ramsey and check out his TV show on Fox Business. Ramsey's Plan will change your life but only YOU can get the plan in motion. Start today. Wanting to get out of debt is easy. The hard part is actually taking the steps you need to take. ACTIONS speak louder than words. Take action!!! It's not going to be easy or overnight but neither was getting $20K in debt. Do you believe in yourself? If so, get started. If you don't have the willpower or faith in yourself, check out the link below for professional (and FREE) assistance:<br><b>References : </b><br>http://www.nfcc.org Consolidating debt isn’t going to boost your credit score. Your score is based on several factors which include history for one. With that in mind, you don’t want to start to cancel credit cards (history). You have your score based on credit use to credit limits and debt to income ratio. Moving the balance from several cards to one card or loan isn’t going to change those ratios. You owe what you owe. The few percentage points of interest in savings really isn’t going to affect your financial life all that much unless you are planning to stay in debt for life by paying minimum payments. If that’s your intention, again, a consolidation isn’t going to work for you. You could consider a voluntary debt management program which can help reduce your interest and you’ll have one payment each month, often with lower interest rates but you will have to cancel cards. That may or may not be wise for you. If you can’t work your own plan then a management plan like with Consumer Credit Counseling may let you breathe easier but you still owe what you owe. The worst thing is to consider a debt settlement which tells creditors you are a deadbeat and they are lucky to get offers to settle with you for less than you owe. Your credit will plummet lower than it already is. Hmmm… what’s the best option? First of all to look at your spending habits. It will do you no good to consolidate debts to one loan and go out to rack up another $20K in debt on the now freed up cards. You’ll soon be in $40,000 of debt. You need a plan. You are going to want to tackle your bills with more than minimum payments. Find ways to decrease your expenses and/or increase your income. Those who fail to plan are planning to fail. List all of your debts. Take the minimum balances you are paying and divide the minimum payments. You’ll get a ratio of which bills to pay off in what order. Continue paying minimums but add on more than minimum payments to the card (or loan) with the lowest number after you divide. Tackle the lowest ratio number with intensity and then put the same amount onto the next lowest score. As you see progress in getting rid of your cards (usually the smallest balances) you will be apt to keep going than if you try to tackle a $5,000 amount instead of a couple of $500 balances. Got the point? Consider taking on a part time job or business. Think about a roommate. Do you have any items that you can sell? There are many ways to reduce your expenses. Trade cable for netflix or library DVD rentals for free. Bring your own coffee to work instead of Starbucks. Bring lunches instead of fast food. Sure, you are thinking that is only $5 here and $12 there but add it up. Just putting $20 a month onto your debts will pay your debts faster. What I haven’t mentioned yet is to STOP using credit… immediately. You will never get out of debt and you will never raise your credit score if you continue to dig a deeper hole for yourself. While it may feel like you are eating an elephant you do so with just one forkful at a time. It can be done. Plenty of people are or are becomming debt free. Try to save money for an emergency fund ($10 or $20 or $50 at a time) so you don’t have to reach for those credit cards. Check out books at the library by Dave Ramsey and check out his TV show on Fox Business. Ramsey’s Plan will change your life but only YOU can get the plan in motion. Start today. Wanting to get out of debt is easy. The hard part is actually taking the steps you need to take. ACTIONS speak louder than words. Take action!!! It’s not going to be easy or overnight but neither was getting $20K in debt. Do you believe in yourself? If so, get started. If you don’t have the willpower or faith in yourself, check out the link below for professional (and FREE) assistance:
References :
http://www.nfcc.org

]]> Comment on Personal Debt Consolidation Loan: Consolidate Your Loans Into One by Suzanne http://creditrepairupdate.com/debt-consolidation/personal-debt-consolidation-loan-consolidate-your-loans-into-one/comment-page-1#comment-6938 Suzanne Tue, 09 Mar 2010 05:17:59 +0000 http://creditrepairupdate.com/debt-consolidation/personal-debt-consolidation-loan-consolidate-your-loans-into-one#comment-6938 It will probably be impossible for you to obtain a debt consolidation loan. Banks are being very strict these days. Your 590 score is considered poor and your 670 is only fair. Therefore, there's really no incentive for a bank to assume the risk. Your best bet is to continue making all your payments on time. You should also eliminate any wateful spending. Most importantly, stop buying things on credit. It's a good idea to keep one card in your wallet in the event of an emergency. Other than that, leave the plastic at home.<br><b>References : </b><br> It will probably be impossible for you to obtain a debt consolidation loan. Banks are being very strict these days. Your 590 score is considered poor and your 670 is only fair. Therefore, there’s really no incentive for a bank to assume the risk.

Your best bet is to continue making all your payments on time. You should also eliminate any wateful spending. Most importantly, stop buying things on credit. It’s a good idea to keep one card in your wallet in the event of an emergency. Other than that, leave the plastic at home.
References :

]]> Comment on Personal Debt Consolidation Loan: Consolidate Your Loans Into One by Vote Republican in 2010 save USA http://creditrepairupdate.com/debt-consolidation/personal-debt-consolidation-loan-consolidate-your-loans-into-one/comment-page-1#comment-6937 Vote Republican in 2010 save USA Tue, 09 Mar 2010 05:15:59 +0000 http://creditrepairupdate.com/debt-consolidation/personal-debt-consolidation-loan-consolidate-your-loans-into-one#comment-6937 1. STOP spending! 2. Those debt consolidation places STEAL your money & ruin your credit 3. Stop worrying about ruining your credit...you are caring tons of consumer debt anyway so who cares 4. Skip ALL the others & start to pay the smallest debt first. (pay minimums on others if possible...but if the other minimums take up too much cash flow just skip them & let them pile up) 5. After the smallest is paid move on to the next smallest one I know you are thinking this will ruin your credit...and it will (a little) but none of that will matter 3 years after you are done with all your debts. * You will be debt free :-) * After 3 years your credit will sky rocket through the roof because you will not be carrying any consumer debt (& oh, man they gonna want you back sooo bad). * And after 3 years of not being able to obtain new credit cards will be a GREAT lesson for you. That it IS possible to live on cash alone.<br><b>References : </b><br> 1. STOP spending!
2. Those debt consolidation places STEAL your money & ruin your credit
3. Stop worrying about ruining your credit…you are caring tons of consumer debt anyway so who cares
4. Skip ALL the others & start to pay the smallest debt first. (pay minimums on others if possible…but if the other minimums take up too much cash flow just skip them & let them pile up)
5. After the smallest is paid move on to the next smallest one

I know you are thinking this will ruin your credit…and it will (a little) but none of that will matter 3 years after you are done with all your debts.

* You will be debt free :-)

* After 3 years your credit will sky rocket through the roof because you will not be carrying any consumer debt (& oh, man they gonna want you back sooo bad).

* And after 3 years of not being able to obtain new credit cards will be a GREAT lesson for you. That it IS possible to live on cash alone.
References :

]]> Comment on Personal Debt Consolidation Loan: Consolidate Your Loans Into One by Judy http://creditrepairupdate.com/debt-consolidation/personal-debt-consolidation-loan-consolidate-your-loans-into-one/comment-page-1#comment-6936 Judy Tue, 09 Mar 2010 05:13:59 +0000 http://creditrepairupdate.com/debt-consolidation/personal-debt-consolidation-loan-consolidate-your-loans-into-one#comment-6936 670 might be an OK score, but 590 sure isn't. Banks have gotten more careful of who they lend money to, and to be honest with you, you don't look like a very good risk to them right now. Unfortunately, credit card companies get you big-time on interest, especially when your balances are somewhat out of hand. Since the balances are going down slowly, you're doing the right thing - keep up the good work, even though it will cost you a lot of interest by the time you get them paid off. Pretty much anything else you'd do would hurt your credit score. Good luck.<br><b>References : </b><br> 670 might be an OK score, but 590 sure isn’t. Banks have gotten more careful of who they lend money to, and to be honest with you, you don’t look like a very good risk to them right now.

Unfortunately, credit card companies get you big-time on interest, especially when your balances are somewhat out of hand. Since the balances are going down slowly, you’re doing the right thing - keep up the good work, even though it will cost you a lot of interest by the time you get them paid off. Pretty much anything else you’d do would hurt your credit score.

Good luck.
References :

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