Repair Credit FactsCREDIT Repair FAQs, Credit Repair Kit, Places to Fix your Credit For Free!

The average VantageScore credit score fell to 748 in August (latest month available), as measured by credit bureau Experian.

However, it has only dipped eight points since 2007, just before the housing boom turned to housing bust.

The average credit score was 755 in August 2008 and 750 in August 2009.

Despite all the recent turmoil in the credit markets, which you think would have lowered credit scores even more, consumers have taken an active role in reducing debt, resulting in an improvement in their credit scores.

This has countered some of the negative effects related to foreclosures, short sales, and other derogatory events of late.

Meanwhile, the latest data from Fico (October 2008), the creator of the Fico score, revealed that the average Fico score is 713.

Unfortunately, this data isn’t very up-to-date, so it’s hard to say what impact the financial crisis has had on Fico scores.

Either way, you would have to assume that both the VantageScore and Fico score algorithms will be updated as a result of the latest crisis.

Though the updates are unknown, I would guess that because of all the foreclosures and related negative actions in recent years, credit scores for those who avoided all the problems will rise, while those who made missteps won’t be punished as badly as they may have been in the past.

The experts say the economy is starting to recover, but unemployment rates still remain high across the country. In many states, so many workers have been unemployed for so long that state funds for unemployment are running out.

Why the shortfall? There are several factors to consider, including the massive surge in people filing for unemployment benefits, the extended length of many benefit claims and poor budgeting and planning by some states.

The shortfall has forced many states to borrow from the federal government and go into debt to keep paying benefits to out-of-work individuals in their state. In many cases, these benefits are the only form of income for some families, many of which have sought relief with Chapter 7 bankruptcy laws.

Is your state in trouble?

Read more…

Bad Credit Repair teaches Tim from Idaho how easy it (can be) to face up to and overcome bad credit challenges…that is, once Tim gets REAL about credit repair!

Tim, it’s your lucky day!

You’ve come to the right place for improving your credit and getting your “good credit” life back.

You really can improve your credit with good information and a solid game plan.

You do NOT have to clean up everything bad on your reports to get whatever it is you want from from “good” credit.

You simply NEED to do enough so you can get whatever it is you want from “good” credit.  This is what I told Tim from Idaho, who asked me for help.

WHAT YOU DON’T KNOW ABOUT CREDIT REPAIR CAN HURT YOU!

Tim, like many other people, believes credit repair only  is about finding the magical dispute letter. Firing off dispute le

Read more…

Consumer credit scores fell a whopping two points since January 2010, according to a survey released this week by Credit Karma.

The company, which provides a quasi free credit score, said the national average credit score was 667 last month, down one point from December and two points from January 2010.

That’s much lower than the so-called average credit score from Fico, which weighs in at a healthy 713.

Consumers in Los Angeles and Philadelphia fared the worst, with credit score declines of five points, while New York residents saw an average decline of four points, and Chicago, Houston and Seattle residents saw three point declines.

However, seven states, including Alabama, Arkansas, Kentucky, Louisiana, Mississippi, Oklahoma and South Carolina still have what’s considered fair to bad credit scores of 650 or lower.

The report revealed that Massachusetts had the highest credit score nationally with an average score of 685, while Mississippi was lowest at 631.

Since January 2010, the average consumer with an account:

- Decreased credit card debt 9% to $7,200 – Decreased home mortgage loan balances 4% to $173,967 – Decreased home equity 5% to $49,469 – Increased auto loans 3% to $15,140 – Increased student loans 9% to $28,715

Remember, the best way to raise your credit score is to simply pay all bills on time and keep debt levels low.

If you’re curious where you stand credit wise, click to get all 3 credit scores free for 30 days.

In much the same way the 2003 “Do Not Call” Registry helped consumers avoid a large number of telemarketing calls, the proposed “Do Not Track” bill would allow consumers to opt out of programs that allow advertisers to keep tabs on their browsing habits, according to a report from The Los Angeles Times. The law, introduced by U.S. Rep. Jackie Speier of California, would let Internet users opt out of programs that allow companies to tailor their ads to specific consumers’ specific browsing histories.

Speier also rolled out a bill that would give consumers more control over how financial institutions accessed their personal financial information, the report said.

[Related article: FTC "Do Not Track" Proposal: Q&A With A Privacy Advocate]

“These two bills send a clear message – privacy over profit,” Speier said in a statement. “Consumers have

Read more…

During these tough economic times it is not uncommon for debt collection scam artists to hit the phones and attempt to collect money on expired or non existent debts. The latest debt collection scam seems to be spreading across the US referring to Hollywood Video, which filed for Chapter 11 bankruptcy protection in 2010. The debt collection scam begins with a phone call from a collection agency, telling the consumer that they have a unpaid debt in regards to their previous account with Hollywood Video.

More often than not the consumer will be persuaded to pay the bill at a “reduced” rate in order to avoid the debt going on their credit report. This is the heart of the debt collection scam, you may not be responsible for this debt and the collection agency isn’t legally in possession of your debt, if it even exists.

Knowing your consumer rights is the best defense against debt collection scams, if you are unsure of your rights your best bet is to contact a fair debt lawyer and examine your rights. As co

Read more…