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Archive for the ‘Credit Check’ Category

The Credit Robbers - Debt, Credit Rating, Credit Repair, FICO® Credit Scores, and Positive Thinking

Saturday, March 15th, 2008

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Credit Repair + Debt Elimination = 800+ FICO® Score Credit Report

Debt, Credit Rating, Credit Repair, FICO® Credit Scores, and Positive Thinking

It might come as some surprise to you that you need to focus on positive thinking to get through periods of financial difficulty and to help you to turn around your financial situation where you have sufficient funds to cover your day to day expenditure without being constantly stressed.

It is only natural that somebody who has had financial turmoil for some time, to begin thinking negatively and wonder whether they will ever get out of the difficult situation that they are in.

If you are currently faced with huge debt that you feel so overwhelming that you can’t see the forest for the trees, then it is going to take you some time to start feeling better about yourself and thinking positively towards the future.

It is however something that you need to focus on because the power of positive thinking will help you to get back on your feet a lot sooner. It will help you to make better decisions and give you the energy to focus on bringing in more income and coping with the stress that you are currently under, not to mention the positve effects it can have on your credit rating, debt recovery, FICO® credit score, and credit report.

Positive thinking will also be picked up by other people such as your creditors who will see that even you believe you are going to make good on their debts and give them the confidence to possibly allow you a bit more time to pay back the money that is owed to them.

If you approach them with a negative attitude then they can become very uneasy as to whether they will get their money back or not and often this is all that is needed for creditors to send the debt collectors in and start the debt recovery process.

Positive thinking is a goal that needs to be added to the other goals that will see you eliminating debt and leading a more positive and productive life where you will have more control over all aspects of your life including the running of your household and your finances.

Positive thinking and a positive attitude plays a significant role on how you approach your credit rating, debt recovery, FICO® credit score, and credit report.

Dr. Robert Miller, Ph.D.
Investigations Analyst
www.TheCreditRobbers.com

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The Credit Robbers - Your FICO® Score and Improving Your Credit Rating.

Wednesday, January 30th, 2008

Credit Repair + Debt Elimination = 800+ FICO® Score Credit Report

Your FICO® Score and Improving Your Credit Rating.

Once you have paid back your outstanding debts, you can concentrate on rebuilding your credit rating. Although you can’t do anything about the bad history that you have and the fact that previous debt problems will show on your credit report for 7 ½ years, you can start to rebuild your credit and eventually have more positive information on your FICO®credit score and your credit report than the negative items of the past.

You will do this by applying for small amounts of credit and paying them off on time all the time to start building a good credit record. Timeliness is the operative here.

You should only start doing this once you have sorted out all your debt problems and are in a financially stable position where you know that you will be able to make all your payments on time.

If there were specific reasons why you got in debt in the first place that haven’t been completely resolved then it would not be wise to get this additional credit until you have that part of your life sorted out.

You will only get more credit after you have created an updated budget that will allow for the repayments and show that you will be able to manage the new debt repayments without undue stress.

Thus the journey begins - your credit rating will begin to rise when you have taken a proactive stance to improve your credit. Subsequently, your FICO® credit score associated with your credit report will rise as well.

Lending institutions will look at the positive results you have had with your credit in more recent times and this will make it easier for you to deal with them in the future, and be able to acquire the most credit at the lowest possible rates.

While you will be wary of getting credit cards again, and rightly so, they can be useful for rebuilding your credit. To do this, you will get a card that has a relatively low interest rate and a small credit limit and you can use it to buy essential items only. You will need to pay back the full amount at the end of the month so you don’t start building debt again. If you purchase and pay back within the month you won’t be incurring interest charges but you will be building a better credit rating. Later you can make some bigger purchases on essential items once again and then pay them off over a period of time making sure that you always pay the minimum amount required, or better still - more than the required monthly payment.

After you have had your credit card operating successfully for some time and have paid it off in full, you can apply for personal loans and build your credit by paying them back in full, on time, all the time.

Eventually people will be more interested in your recent good credit history and they will not focus on the problems that you had in the past.

Restoring/improving your credit rating is a process and takes time. However, the rewards can be significant, in that your credit rating by virtue of your FICO® credit score and credit report will bring you the lowest possible interest rates on needed capital now and in the future.

Dr. Robert Miller, PHD
Investigations Analyst
www.TheCreditRobbers.com

Contact Us: Send a FormMail Message

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