financial urban legends: the credit boogie man
Lightning flashes in the night sky, projecting your shadow on the wall.
Look under the bed. . . nothing.
You turned on the bathroom light. . . nothing.
You cut it off.
There is only one place left to look at, that is the closet.
You began to walk slowly into the closet.
The strange thing is that you hear that terrible horror music in your mind, and don\'t remember how the door cracked.
Your heart starts beating
Your forehead begins to sweat beads.
You reach out and grab the door handle, twist it and pull it apart. . . nothing! Whew!
Your pulse slows down to normal speed.
You laugh at yourself and think how stupid your actions are.
It\'s a bit cold so you pick up the jacket from the hanger. Wait. . .
There\'s a problem.
You can feel the pockets inside, there are a few envelopes inside.
Spread the envelope on the bed and your whole body begins to chill. It can\'t be.
This is impossible.
Mortgage payment. The car note.
Water, gas and electricity. . . all there. How? !
No doubt, you know you put these in the mail a few weeks ago.
Browse the calendar quickly and your chill will double.
It\'s been more than 30 days late now! \"Ha. . . ha. . . ha!
\"Then a little louder,\" Ha. . . HA. . . HA!
\"When you run to the window, you will vaguely see something fading in the rain night in the yard.
At this point, snow has more colors than your skin.
Night Wind and the last message. \"Your. . . (your. . . your)Score. . . (score. . score)Shall. . . (shall. . . shall)FALL. . . (fall. . . fall).
This is the most likely thing to happen.
You wore that jacket three or four weeks ago, meaning to put the bill in the mail, but forgot.
Just like the kids have their story of \"My dog ate my homework\", we adults have our \"credit Buggi\" City legend.
The people of \"credit boogie\" did not damage your credit score and you did.
But don\'t worry, there\'s always time to change how you think about using credit correctly.
First of all, you need to get a copy of all three of your credit scores and reports. MyFico(. com)
Processing scores and reports for Eqifax. CreditExpert(. com)
Handle reports and ratings from Experian.
TransUnion uses TrueCredit (. com)
Get your report and score as their website.
Yes, I know you can get an annual report free of charge from each bureau (. com)
But most people don\'t know that your score is not free.
You still need to get your score through one of the sites I listed above (
Do you really think it would be that easy? .
What I suggest to my client is a double attack.
When you are trying to remove a negative mark from your file, you should also take steps to add a positive mark to your file.
This creates synergies that increase your score faster than each strategy does individually.
Start with a simple account.
Looking for entries that are not even yours, which should be easily removed from your file.
Next, look for the items that have been paid (
Or maybe not paid yet)
They are seven or more years older than them.
The 7-year period starting 180 days after the account defaults (
Change of law after 97)
Or the last date of the event.
This can be tricky.
This is 2006, so anything from 1999 and beyond is a good candidate for the attack.
But if you pay (
But not the total amount)
Payment was then stopped on 2004.
This will make your seven years start in 2004, not now, let\'s start adding positive trade lines to your credit file.
If you don\'t have much money, you will like this strategy.
Get several loans from different lenders.
Depending on the amount of funds you can use, the bank may not be an available channel.
This is the easiest way to deal with this situation.
Get a passbook savings account loan.
The interesting place is right here.
Most banks won\'t do this unless you have $10 k or more in your savings account. Wow!
Credit Union is a better solution.
This is what I have done before, and sometimes I will.
Call your credit union (
Or you will join.
Ask them about the savings account guarantee loan.
Most people allow you to pay each year, which means you don\'t have to pay during the loan process.
If this is not good enough, you can renew your loan for one year by paying only the interest due.
You can do this to fund the loan.
Go to the credit union and place when you get paid (
Or open an account)
Deposit your check money into your account
Then turn right to fill in the loan document and return your funds to you.
Now, just rinse and repeat these steps with a few credit unions.
My credit report shows that these accounts are \"paid as agreed \".
What else can it show.
I don\'t pay, so it\'s impossible to be 30 (or more)days late.
You must be ready. Who knows?
Maybe next time the \"credit Buggi\" will not be able to cause so many dramatic events in your life.