Top 7 Tips For Repairing Bad Credit To Purchase Or Refinance A Home Debt Consolidation Loan Online How To Find A Reputable Debt Consolidation Loan Online Lender Finding A Personal Debt Consolidation Loan On The Internet

Your credit report and credit score makes huge differences in your life, and in your finances. If you have a great credit score, your home, car, insurance, and more will cost you thousands less because you are deemed “credit worthy.” If you have poor credit, you can be denied a home loan, refinance, and even auto insurance.

Yet, most people have absolutely no idea what is necessary to improve their own credit score to accomplish their goals. If you follow these tips, you are sure to see your score improve.

1) Avoid Fee Credit Repair Services

Everyone has seen the credit repair signs on the side of the road and the advertisers online promising to fix your credit – for a fee. Although there may be reputable credit repair specialists somewhere, I have never met one, and I have dealt with many “credit repair specialists.” If you choose to enter into a contract with a “credit repair specialist” you will likely hear from them only once per month – when their service fee is due.

However, there is quality help available. Find a Realtor or Mortgage Broker who specializes in credit repair. The beauty of this arrangement is that your Realtor or Mortgage Broker will not earn their commission until you obtain the credit score necessary to purchase a home or obtain the refinancing terms you want. You will pay for results, not promises.

2) There’s No “Magic Bullet”

These same “credit repair specialists” will try to sell you on their own “magic bullet.” They will claim to have found a loophole in credit law that either: 1) Allows them to successfully dispute your collections and have them erased -or- 2) Dispute the manner in which the collections were filed in order to have them erased.

Creditors typically are in the position to loan money because they are very organized, have long memories, and are up to date on credit law. It is possible to dispute credit charges, and it is possible to have legitimate collections removed from your credit report. However, this has one BIG problem: The collections will reappear on your report within a few months.

Your “credit repair specialist” may dispute your charge, at which time the creditor has 30 days to respond. If the creditor does not respond within 30 days, the collection is removed. However, as soon as the creditor’s reporting cycle again lands on your file, it WILL be reported, and it WILL reappear on your report. This is why you may find someone who claims to have had a good experience with a “credit repair specialist.” If you speak with the same customer 2-3 months later, they won’t have the same praise.

3) Borrow Money

This may seem counter-intuitive, but it’s absolutely essential. If you have bad credit, you will have to re-establish good credit in order for your score to go up. The only way to establish good credit is to borrow money. Borrowing does not necessarily mean putting yourself into debt. Do you need to purchase something from Best Buy? Put it on your Best Buy card. Do you buy gas on a regular basis? Apply for a new gas card and use it. Groceries? Use a credit card. The key is to maintain the same level of spending but to increase your use of credit.

4) Pay It Back On Time

Now that you’re borrowing money on a consistent basis, you have to pay it back in a timely fashion. If you don’t pay your bills on time, your score will go down – and fast. Timely, in this case, means no more than 30 days late. That’s the good news – just because your credit card company charges you a late fee doesn’t mean that they’ve reported you late to the bureaus. Make it a habit of paying ALL your bills on the same day of the month – that way you only have to go down the list once and you’ll ensure that you avoid any late fees, and any 30 day lates.

5) Decrease Your Revolving Credit Balances

If you already have credit card debt, you need to take a hard look at how it’s distributed. Ideally, every card will be below 35% of its limit, but it will also help you quite a bit to keep them under 50%. You can accomplish this a number of ways. If you have money in the bank, pay the cards down – there’s not a savings account in the world that will pay out the interest your creditors charge you. If you don’t have the money to pay the balances down, ask your creditors to increase your limit – oftentimes, they will. Finally, if you have one card maxed out and another with a low balance, transfer some of the balance from the maxed out card onto the low balance card – or open a new account and transfer part of the balance there.

6) Open a New Revolving Line of Credit – Or Two

If you don’t have any revolving credit (credit cards) then it’s time to open two accounts. If you have credit cards in collection, then you will probably have to get secured cards. A secured credit card will require that you deposit money with them in order for you to receive a credit card. This will feel like a debit card, but it’s not. If you deposit $300 with your bank to receive a $300 line of credit, you actually have two separate accounts. When you charge a balance to your line of credit, you will have to pay it back – the funds will not be deducted from the initial $300 you deposited. After you’ve opened your two lines of credit, use one for groceries and another for gas. Gas and groceries are two expenses that almost everyone has, and that almost no one will increase their spending on just because they are able to.

7) Buy a House

If you don’t already own a home, you are probably working on your credit in order to purchase your home. However, be very aware that your credit should skyrocket after you’ve made 4-5 mortgage payments on your new home. This means that you shouldn’t worry too much about your interest rate – you should worry more about getting the approval on your home. Avoid a pre-payment penalty on your loan, and plan on refinancing your higher interest loan for a much better monthly payment about 1 year after your purchase.

Credit scoring can seem very confusing and very intimidating. Unfortunately, there are a lot of uneducated professionals who claim to understand the scoring models but don’t. Find someone who specializes in credit repair and who has a vested interest in the success of your repair program. Follow these tips, give it some time, and watch your scores increase!

If you are in the market for a debt consolidation loan online, you will want to make absolutely certain that you are dealing with a reputable and reliable (as well as experienced) debt consolidation loan online lender. There are some tips and pointers that you need to keep in mind when it comes to finding a reliable and reputable debt consolidation loan online lender.

First, as you go about looking for a debt consolidation loan online, you should not forget word of mouth. Even in this high tech age, you need to reflect on the importance of word of mouth and one on one communications. As you go about looking for a debt consolidation loan online and a debt consolidation loan online lender, visit with friends, family members and colleagues about any experiences one or another of them may have had when it comes to these types of services and service providers.

Second, when looking for a reputable debt consolidation loan online lender, there are some independently run, consumer oriented websites in operation on the Net today that provide reviews and evaluations of different providers of debt consolidation loan online. In many instances, through these useful and user friendly websites you are able to obtain a side by side comparison of different debt consolidation loan online lenders. Thanks to a side by side comparison of different debt consolidation loan online lenders you will be able to pick out a lender that can best meet your needs with debt consolidation loan online options in a very short amount of time. Once again, you also can rely on these ratings to a significant degree because the information regarding these debt consolidation loan online lenders is compiled by independent organizations.

Third, as you go about looking for a reliable and reputable debt consolidation loan online lender, you will want to do direct research about specific loan providers. For example, you can spend time reviewing the debt consolidation loan online lenders’ websites and find out specifically what they place at these venues. Pay particular attention to the “fine print” at the debt consolidation loan online lenders’ websites as the same pertains to the costs assessed and associated with a debt consolidation loan online.

By taking the time to closely follow the steps that have been outlined for you in this informative article, you will be able to identify a reliable, reputable and experienced debt consolidation loan online lender that will be able to meet your own financial and debt related needs and objectives.


Dealing with debt is a challenging and sometimes disheartening task for many people. Like many people around the world, you may be struggling with ever mounting debt. You may feel that your debt has become out of control. You may be in need of solutions through which you can restore some order to your finances. One option that you may want to consider is a personal debt consolidation loan.

Through this article you will be provided with an overview of how you can go about finding a personal debt consolidation loan lender on the Internet and World Wide Web. With this information, you will be in a better position to find a reliable and reputable personal debt consolidation loan lender on the Net.

Directory Services

As you begin your search for a personal debt consolidation loan lender on the Net, you will want to take the time to visit one of another of the directory services that are in operation today on the Internet and World Wide Web. What you will want to be on the lookout for are those Net based directory services that are independently run.

There are some personal debt consolidation loan lenders that have set up faux directory services on the Net that are designed to draw business to their own operations. Therefore, you do need to be on the lookout for these false front websites that really are not truly independent directories.

Through an independent directory service, you will be able to obtain some basic information about different personal debt consolidation loan lenders. In some instances, these directory services will layout the products and services and personal debt consolidation loan options offered by different lenders in side by side fashion. These side by side comparisons allow you a convenient and effective method through which you can really take a close look at your different personal debt consolidation loan options.

Taking the Time to Shop Around

Once you do take advantage of these directory services, you can then begin the more in depth process of shopping around. In other words, you need to go to the different websites that are operated by personal debt consolidation loan lenders on the Net. By visiting these websites, you can more closely examine the different personal debt consolidation loan options that are now available on the market today. You can identify those personal debt consolidation loan options that really will fit your needs.

You do need to keep in mind that you must review the small print in regard to interest rates, costs, fees and other charges associated with a personal debt consolidation loan.

Finally, once you do identify a lender that is reputable and a personal debt consolidation loan option that actually does fit and meet your needs, you are able to make application for a personal debt consolidation loan online in most instances. Applying for a personal debt consolidation loan online is not only convenient but you oftentimes can obtain very swift loan approval (and even save some money in loan application costs) by applying for a personal debt consolidation loan online.

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