chriscboii-blog

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How Credit Report Errors Occur

Credit errors can occur for a couple of reasons:

Mixed Files: Someone could have the same name or a similar name to yours and they applied for credit and the file got mixed up with yours.

Identity Theft: Someone could have stolen your social security number and they opened a new account in your name.

Furnisher Errors: Furnishers are banks, debt collectors and others that report the information that shows up on your credit report. A clerical error could have occurred.

Re-Aging of Old Debts: Certain debts are supposed to age off your credit report within a certain amount of time. Re-aging can occur when a debt is sold to a third-party collector.

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The truth about Credit Repair

Credit repair is about your credit report, not your credit score. Your credit report and score are two separate things. Whatever happens with your score is an outcome of actions taken to repair your report. The main thing to know here is that credit repair is focused on making sure your report is accurate and fair. That means the credit repair process is more about going through your report with a fine-tooth comb to find inaccurate information and attempt to resolve the situation.

Credit repair is not a magic pill for your credit score. While it is a proven strategy for addressing bad credit, it won’t improve your credit right away. Typically, those who may be dissatisfied with the results or timeline of credit repair are looking at their scores every day and expecting them to increase. A little patience is needed with credit repair; as with many other good things, results come in time. 

A general rule of thumb with credit repair is that you can expect results to appear in around six months. Sometimes it may be longer, especially if you are disputing several aspects of your credit report.

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[chriscboii-blog]

How to Fix Your Credit in 5 Steps                  

Get a copy of your credit report and your credit score

Fix errors on your credit report

Build a good credit history and keep your credit accounts healthy

Maintain a balanced debt-to-credit ratio

Review the age of your credit accounts

Credit repair begins with a copy of your credit report. You can find it at Equifax, Experian, or Transunion. You are able to receive your credit report once a year from all three agencies through the Fair Credit Report Act. Credit reports should no longer include details about liens and judgments, but bankruptcies do still appear. 

Then you will see an informational breakdown for each line of credit you have. Account time, account age, number of payments made, missed payments, late payments, and other facts are all included. Payment history, credit utilization, credit type, account age, and credit inquiries all factor into your credit score. After 7 years or 10 for a chapter 7 bankruptcy, accounts will fall off your credit report. That means they don’t appear anymore and no longer impact your credit score.

If you notice a mistake on your credit report, you have two options: Generate a dispute with the credit bureau online, on the phone, or by email, or hire a credit repair company to do the heavy lifting for you. If you’ve been the victim of identity theft, on the other hand, you’ll probably need a professional helping hand.

Credit bureaus must respond to disputes within 30 days and have to remove erroneous information immediately, so if you report a genuine error, you could see your score change for the better within a month depending on other factors in your credit report.

You don’t have to do any of this by yourself. Carmine Consulting will help you every step of the way to improve your credit score. They can help you build, guard, track and restore your credit profile. Click the link below to be on your way to financial freedom.

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[chriscboii-blog]

What is Credit Repair?

Credit repair involves fixing your bad credit in any way. Credit repair is referring to the process of challenging and disputing errors on credit reports. You can go through the dispute process for free with each of the credit bureaus on your own and it involves filing a formal dispute with the credit bureaus. In your formal dispute, you want to explain the error and include any supporting documentation. Many people don’t have the time to do their credit repair or don’t understand how to make their case so they hire a credit repair company to help them. Credit repair takes time and a lot of effort, but in the end, it is worth it.

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How Your Credit Score Impacts Your Financial Future

Many people do not know about the credit scoring system and how it affects your credit score. A credit score is usually a three-digit number that lenders use to help them decide whether you get a mortgage, a credit card, or some other line of credit, and the interest rate you are charged for this credit. The riskier you appear to the lender, the less likely you will be to get credit, or if you are approved, the more that credit will cost you.

The most well-known credit scoring system is called your FICO score. The three major credit bureaus are Experian, Equifax, and Transunion. Since each scoring system uses a slightly different statistical model, your score from each of the three will not be exactly the same. This is because lenders and other businesses report information to credit reporting agencies in different ways, and the agencies may present that information through their proprietary systems differently.

What helps and hurts a credit score is your payment history, the amounts you owe, the length of your credit history, and the type of credit. New credit suggests that you have or are about to take on more debt. Opening many credit accounts in a short amount of time can be riskier, especially for people who do not have a long-established credit history. Good credit management leads to higher credit scores, which in turn lowers your cost to borrow and good credit gives you money in your pocket.

#secure credit card #credit repair #credit karma #credit restoration #credit score #helping others succeed #achieving goals #financial freedom #financial advisor #fico #financial services #vantage score #experian #equifax #transunion

[chriscboii-blog]

“If you don't take good care of your credit, then your credit won't take good care of you.” ― Tyler Gregory

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[chriscboii-blog]

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Just opened 15 new spots! This will fill up quickly! #FirstComeFirstServe only $99 to get started today

Comment ”ME” to Start The New Year Fixing Your #Credit!!

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[chriscboii-blog]

Become Financially Free and Change Your Life with Carmine Consulting, LLC

Build a better lifestyle!

Now, who doesn't want to be financially free! Restore your credit with Carmine Consulting LLC and be on your way to financial freedom!

This service is to repair all negative items off the credit report. The consumer law team at Carmine Consulting knows the law of credit and as a consumer has rights and most are unaware of the credit laws.

For a low fee, you can begin to start removing items from your credit report and give you the tools to become financially free and begin to change your life!

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Julia, Client

"The help that Carmine Consulting provided for me was exactly what I needed for my business. We were able to secure  funding to scale our business."

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[chriscboii-blog]

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Phil, Client

"This program really put me in a position to succeed financially. I had a really bad credit score and they were able to get it up to 700!"

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[chriscboii-blog]

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[chriscboii-blog]

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[chriscboii-blog]

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[chriscboii-blog]

The items removed from the credit report will include evictions, student loans, medical bills, collections, repossessions, bankruptcies, charge-offs, judgments, inquiries, and late payments.

Having items removed and with knowledge and growing credit with Carmine Consulting helping, anything can be accomplished. It is limitless to the dream car, house, or business. We know rights toward credit.

We want to find solutions to people’s obstacles and give people value by joining the team and community. Let’s help grow together to live a dream life.

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[chriscboii-blog]

Credit restoration is the process in which you dispute inaccurate information in your credit history. When you want a better credit score, credit restoration may help to remove incorrect information that looks like bad credit history on your credit report. It may improve your FICO® score and reflect a more positive credit history to potential lenders.

Common reporting errors include transposed or incorrect identification numbers, balance errors, duplicate accounts, and incorrect reports of late payments. You may also find evidence of identity theft and fraud.

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