5 Things Not to do While Repairing Your Credit

Posted by admin9 on Nov 25, 2021 in ARTÍCULOS, Blog | Comments Off on 5 Things Not to do While Repairing Your Credit Repairing your credit is a long process. As much as you would love to repair your credit overnight, it’s going to take some time. While it is happening, you’re going to need to be careful. Making a mistake during the process can set you back to a frustrating spot. You may even find yourself with more unpaid debt and a worse credit score than when you began! For this reason, we want to ensure that you are educated as far as what you should avoid doing while you are working to repair your credit. This includes: #1 Missing some credit card payments in lieu of others. Prioritizing payments is smart. Skipping some payments in order to put money towards others is not. If you want your credit to improve (and you do!), you should not miss payments. Your credit will continue to get worse instead of better if you miss some payments, even if you’re making others. If you absolutely have to choose between paying a collection account or paying an account that is still current, pick the account that is current. #2 Canceling credit card accounts. A lot of people do not realize that closing a credit card can be bad for your credit score, especially if it is a credit card that has plenty of room on it or one of your older credit cards. Closing the account negatively affects your open lines of credit. When you close a credit card account, you are reducing the amount of open credit available to you. This can cause your credit utilization rate to increase, which could have a negative impact on your credit score. You will never improve your credit score by closing a credit card, so think twice about canceling one. #3 Talking directly to debt collectors. When you’re contacted by a debt collector, the best thing you can do is simply tell them to send it to you in writing and to stop calling. Without admitting the debt is yours, ask who the original creditor was, the original debt amount, and how much is still owed. Then, ignore their phone calls and let a professional help repair your credit. #4 Applying for any new loans. Now isn’t the time to buy a new house, car, boat, sofa, or anything else that requires you to take out a loan. Do not even open a new credit card. Any...
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4 Questions to Ask Credit Repair Companies

Posted by admin9 on Nov 25, 2021 in ARTÍCULOS, Blog | Comments Off on 4 Questions to Ask Credit Repair Companies When your credit is poor, it can feel like the end of the world. At the very least, it feels like the end of your financial freedom. It is not, though! By hiring one of the top credit repair companies for professional credit repair services, you can make your way out of the financial burden. Of course, you’ll only reap the most benefits and work your way to better credit if you hire the right company. How can you know which of the credit repair companies is the right one to work with? A good way to go about this process is to ask the right questions! Be sure to bring up the following with them: Question #1 What Credit Repair Services do You Offer? This is the most important question, so it is one you’ll want to ask first. Credit repair companies usually offer a wide range of services, all of which are designed to help you restore your credit. Common services include: Money managementsDebt managementCollection harassmentCredit repairBankruptcies Question #2 What Information Do You Need From me? You want to ensure that they have everything they need to ensure your success. Credit repair companies should give you clear instructions about what personal items and information you must gather to get started. A few things you may need to collect include: Credit reports Credit historyList of debtsCredit utilization ratePayment historyFuture credit plans (buying a car, applying for a mortgage, etc.) Question #3 Can I Hear From Past Clients? Unpaid debt happens to many people. One way to have peace of mind that you’ll reach your credit goals is to hear directly from others who have been able to do it. Credit repair testimonials are a great way to do this. If they’ve helped many of their past clients climb out of poor credit and the negative consequences associated with it, you can feel good that they’ll be able to do the same for you. Question #4 Can You Guarantee a Certain Score Improvement? This is actually a trick question, one you will ask to see if you’re dealing with a salesperson who is willing to say anything to get you to sign on the dotted line. In fact, it is illegal to tell a client that he or she will get a specific score improvement. Credit repair companies can tell you the typical score improvements clients receive as a result...
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Can You Tell a Debt Collector to Stop Calling You?

Posted by admin9 on Oct 29, 2021 in ARTÍCULOS, Blog | Comments Off on Can You Tell a Debt Collector to Stop Calling You? You know that you’re in debt, and it’s possibly even a result of financial mistakes you’ve made in the past. You’re working hard to pay off what you owe, but you can’t pay it all at once. The constant calls from debt collection agencies don’t do anything to change this fact. Can you tell a debt collector to stop calling? Actually, yes! The Fair Debt Collections Practices Act helps protect people just like you from predatory debt collectors when you’ve missed bill payments and gotten yourself too far into debt. One thing it covers is debt collector harassment and intimidation. Calling too often is debt collector harassment.  No matter how many times they call, when they call you, or where they call you, you are legally allowed to tell them to stop. Yes, you can do this even if they’re following all of the rules but you simply don’t want to hear from them anymore. It’s time you learn everything you need to know to make debt collectors stop calling you!  How to Get a Debt Collector to Stop Calling They’re calling you several times a day, even calling you at night. You have a right to tell the debt collector to stop calling you. If you follow all of the rules, they have to comply! You must do this in writing in order for it to be legally binding. If you tell a debt collector in writing to stop contacting you, it may not contact you again except to say there will be no further contact or to notify you that your creditor may take some specific action it is legally allowed to take, such as filing a lawsuit against you. Remember, even if they stop calling that doesn’t mean the ordeal is over. Your creditor may still file a lawsuit against you or make a negative report to a consumer reporting company. In your letter, you’re going to be as specific as possible about who they are, who you are, which debt they’re talking about, and the fact that you don’t want them contacting you any more. They have to stop calling you after this. If they don’t, they’re either breaking the law or scamming you. If you’re having trouble with debt collection, you can submit a complaint with the Consumer Financial Protection Bureau by calling (855) 411-CFPB (2372). They also have sample letters you can use...
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How Many Calls From a Debt Collector is Considered Harassment?

Posted by admin9 on Oct 29, 2021 in ARTÍCULOS, Blog | Comments Off on How Many Calls From a Debt Collector is Considered Harassment? When you’re in debt, the most important thing to do is learn how to deal with debt collectors as you work on repayment. Remember, when a debt collector calls you to collect on debt you owe, you have legal rights. The Fair Debt Collections Practices Act helps protect people just like you from predatory debt collectors when you’ve missed bill payments. One thing it covers is debt collector harassment and intimidation. Even if they are nice when they call, calling too often is debt collector harassment in and of itself. This leads to the question, how many calls from a debt collector is considered harassment? When do Repeated Calls Become Debt Collector Harassment? As briefly stated above, debt collectors are not allowed to do and say whatever they want. According to the Consumer Protection Financial Bureau, the law doesn’t give a specific limit on the number of times a debt collector can call you. What it does say, however, is that debt collectors may not call you repeatedly or continuously intending to annoy, abuse, or harass you or others who share the number. It isn’t only about how many times they are calling, but also when. Debt collectors cannot call you at an unusual time, or at a lace they know is inconvenient to you, like work. They are prohibited from contacting you before 8 a.m. or after 9 p.m. As well, you do have a right to tell the debt collector to stop calling you. You must do this in writing in order for it to be legally binding. If you tell a debt collector in writing to stop contacting you, it may not contact you again except to say there will be no further contact or to notify you that your creditor may take some specific action it is legally allowed to take, such as filing a lawsuit against you. Remember, even if they stop calling that doesn’t mean the ordeal is over. Your creditor may still file a lawsuit against you or make a negative report to a consumer reporting company. Safe Credit Solutions can Help You Deal with Debt Collector HarassmentYou don’t want to stay in debt, but you’re struggling to pay it all back. What can you do?  Safe Credit Solutions can help you! Our credit consultant will go over your current financial debt profile and help you to determine the best way to...
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3 Things You Should Never Say To A Debt Collector

Posted by admin9 on Oct 29, 2021 in ARTÍCULOS | Comments Off on 3 Things You Should Never Say To A Debt Collector No one wants to be in debt. It can feel overwhelming when you aren’t sure of the way out. Right now, the most important thing to do is learn how to deal with debt collectors. Remember, when a debt collector calls you to collect on debt you owe, you have legal rights. No matter what you owe and how far behind you are, there are ways for you to make a bad situation a little better. The truth is that there are also ways to make a bad situation worse! Yes, there are things you should never, ever say to a debt collector. If you do, you’re going to take this situation into even more upsetting and legally-damaging territory. We don’t want this to happen to you! Safe Credit Solutions is here to help you avoid making this any worse than it already is. What You Should Never Say To A Debt Collector The Fair Debt Collections Practices Act helps protect people just like you from predatory debt collectors when you’ve missed a bill payment. Knowing what and what not to say is a good way to stay within your rights. When on the phone, never: #1 Offer up any type of personal information. While on the phone with a debt collector, you are going to want to share as little about yourself, your home, your family, your job, and your financial situation as possible. Never tell them your social security number or banking information. Don’t share with them where you work, when you work, or how much you’re making right now. The more they know about you, the more they can harass you. #2 Admit the debt is yours. Even if you know exactly what they are talking about, never admit it is your debt. Just like most legal actions, debt has a statute of limitations. If the statute of limitations has expired, the debt collector can no longer sue you to recoup the debt. Admitting a debt is yours may reset the clock on old debt. This is why it is never a good idea to do so, just in case. #3 Provide ammunition. It would be a big mistake to tell the debt collector that you spent the payment money on gambling, travel, gifts, shopping, or some other non-essential reason. The only information you need to provide is that you know your responsibilities but that you...
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What Happens to Your Unpaid Debt?

Posted by admin9 on Sep 27, 2021 in ARTÍCULOS, Blog | Comments Off on What Happens to Your Unpaid Debt? Did you know that some forms of debt don’t follow you around forever? If the statute of limitations has expired, the debt collector can no longer sue you to recoup the debt. But when does this happen? What happens to it when it does expire? And most importantly, will all debts expire? Safe Credit Solutions has the team of debt relief and credit repairs experts able to answer all of these questions and more. What happens to unpaid debt? Finding yourself unable to pay off a lot of debt can be one of the scarier situations in life. One reason it is so overwhelming is because it’s easy to feel like you’ll be stuck in debt forever. This debt will follow you around for the rest of your life. Your credit will be in shambles and you’ll never be able to get approved for new loans. Not so fast! Realistically, here’s what you can expect if you don’t pay your debts: Your debt will go to a collection agency.Debt collectors will contact you.Your credit score will fall.Your debt will follow you around for years.You’ll pay off the debt or not, but either way your life will go on. It’s important to keep in mind that there is a big difference between a $50 unpaid phone bill debt and a $50,000 credit card bill debt. It may be that an unpaid debt of $50 doesn’t cause you much grief. Other than your credit score going down for a while, maybe nothing happens other than a few dozen phone calls. That’s not likely to occur with a $50,000 debt, though. If you are late with a debt payment of this size, at some point you could be sued by the person to whom you owe the money. You will receive notice of a court date. If you don’t show up, you automatically lose the case. At this point, your wages will be garnished at 25% out of every paycheck. A lien can also be put on your home or car. There is a statute of limitations on credit card debt. It varies by state, but it’s generally three to 10 years. Your credit score takes a huge hit too. How long a collection stays on your credit report depends on the type of loan you have. Most of them stick around for seven years. Chapter 7 bankruptcies will show up for...
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