In today's digital age, where personal information is readily available online, identity theft has become a pervasive and ever-evolving threat. As a credit repair expert, I understand the importance of safeguarding your financial well-being against identity theft. In this comprehensive guide, we will explore what identity theft is, how you can prot...
Well, not everyone is as lucky as Jason Bateman to have funny gal, Melissa McCarthy, steal his or her identity. The movie Identity Thief takes you on a hilarious trip with outrageous mishaps between the two actors. However, in real life, identi
This concept is hard to believe I know. As if posting a picture you didn’t intend your co-workers to see or accidentally updating something to completely offend half of your friends list wasn’t bad enough, soon your Facebook and Twitter may diminish your ability to obtain a loan and blemish your credit report.
The terms credit report and credit score seem synonymous, but really there is a difference between the two that as a consumer is important to know. To sum it up you can have a credit report without a credit score but not the other way around. If you’ve pulled your yearly free credit report at annualcreditreport.com (which you really should!) you’ll notice it’s missing a credit score. Let me break it down:
Credit score is a sum used by lenders as an indicator of how likely you are to repay your loans. Your credit score is generated by a mathematical formula utilizing the data from your TransUnion, Equifax or Experian credit reports. Lenders have been using credit scores as part of the lending decision for over than 20 years.
What factors influence my credit score?
Your Credit report score has been affecting your Credit History for years and you may not even know you have one or what it is. A credit score is a numerical number that is determined from a mathematical formula based on the information found in your Credit bureau report.
The formula is complex and looks at many things in your credit report to determine your score, like, how old your credit is, how you have paid your credit in the past and what standings your debts are currently at, how many debts you have, the number and age of inquires, how you utilize your credit, as well as what your balances are in relation to your credit limits.
The average American knows very little about Bankruptcy. Most people probably are aware of bankruptcy’s ability to dissolve debt and give the debtor a fresh start. Some of the information you might have heard is correct, but some is not. The purpose of this article is to dispel some of the most common bankruptcy myths.
As they say, ‘Knowledge is power.’ Many times people either act on false information or fail to act because they didn’t know what could be done to their benefit. This is the case in many areas of life, but on the top of that list is money. And in the money category, you will find lots of misinformation about Credit.
There is so much to talk about on the topic of credit myths that an entire book could be dedicated to it.
When you apply for a Credit Card or loan, the financial lender will automatically examine your Credit report. It will then formulate a credit score for you and either accept or decline your loan or credit card application based on that score. So what is a credit report and how do you find out what yours says?
Whenever you pay your bills or repay loans, the Credit bureau is essentially watching you. The credit you have on hand, the monthly debts you’ve accrued, and other miscellaneous financial information, is all collected by Credit Bureaus. Even your record for paying off your Sears credit card is on file! The bureaus sell this information to financial institutions, which use it to determine if you are a good candidate for a credit card or loan.
A copy of your credit score is a great way to know if you are in debt or not. Many people don't keep track of their credit score and end up in deep debt. Your credit score will be affected if you default on a payment or are late with payments. Credit scores are used by lenders and creditors to determine how trustable you are to repay your loans and...
Zero percent interest is an attractive credit card feature that draws a lot of attention. While credit cards can be dangerous tools, they also have practical uses like facilitating purchases online and helping with cash flow issues. So having access to zero percent interest credit cards may be worth considering for those facing financial difficulty...
Does this sound familiar? You created a monthly budget and set your goals, yet every month you seem to be exceeding your spending limits. We get it, emergencies happen (was that new pair of shoes really an emergency?) but why is it that you cannot seem to stay on track? The reality is, your budget and goals may be unrealistic and unreachable.
The first step in learning how to stick to a monthly budget is to do your homework. Gather all your financial statements, receipts, etc. This will allow you to see the full scope of your normal spending habits. From there, create a list of monthly expenses and then total them. If your monthly income exceeds your spending, there is potential for you to save. Set up a savings account with your bank and allocate a portion of your monthly income to that account each month, most banks can even set this up to happen automatically.
However, if your monthly income is less than your spending, you need to make some cuts. Go over your budget to determine the opportunities to save. For example, when was the last time you received an insurance quote? Can you save on your cable bill by switching to a less expensive plan?
As you move forward,it is necessary to keep track of your purchases; keeping a list will help you stay up-to-date on your financial situation. Another important consideration is to avoid impulse buying. We know, it is difficult; however, you will never be able to save money unless you address this issue. Try using cash instead of debit or credit cards; it is difficult to hand over a stack of cash because it is a tangible item unlike the money coming from your debit card.
We have been helping people clean Credit Reports since 2004, removing items that are misleading, inaccurate, obsolete and duplications. We use strict compliance monitoring systems and the most creative credit repair strategies to generate industry leading results. Praxis Credit Consulting continues to set the pace to generate second chances for our clients in the credit repair industry. Praxis Credit Consulting has become a trusted leader and is committed to providing quality services with a proven track record. For over a Decade we have helped people create a second chances to not only obtain their goals of home ownership, better jobs, and saving on day to day items (insurance, credit card interests, mortgage loans and auto loans)
A Brief History of Praxis Credit Consulting
We were founded in 2004 here in Phoenix, when our owner wasn’t able to find assistance of putting his life/finances together after a divorce. With all the so called help and misguided information provided to the general public he set out to find the truth. Creating a road map to have better credit
17 years of expeirence
Hard Working Team
Why is identity theft so widespread? According to the 2005 Fraud Survey by the Better Business Bureau, half of victims recognize their perpetrator. These are warning signs to watch out for:
I used to work at a company that handled stolen and lost credit card reports. I don't know how often someone calls to report that their former or soon-to-be former spouse has stolen all their financial details and gone on a spending spree in revenge. This type of emotional blackmail can happen to anyone - not just ex-husbands or wives - but it's especially strong when angered. Identity theft can have devastating results both financially and emotionally. When someone has access to all of your private information, they often become familiar with you.
No matter the relationship, it's essential that you monitor your credit score and other financial data regularly.
Identity theft - the most devastating form of identity theft
If your credit is poor, buying a house requires extra effort. Before beginning the search for your dream home, determine what monthly payments you can realistically afford. Research the local market to see what houses are selling for and how much each month's payments will be. Be aware that you may pay slightly more than someone with an existing conventional loan from the bank; thus, be mindful when deciding what you can afford.
Finding a home you can afford without borrowing money can be more challenging. You will have to look around more to find what you are willing to settle for in terms of features. Consider whether living with just one bedroom is possible or if three is necessary; are two cars allowed in your garage or do you need a carport? Is living on one level necessary for health reasons; is proximity to schools important? Make a list of essential needs before searching any further.
Make a list of all the items you're searching for, such as a hot tub or pool, walk-in closet, wood floors, decks or another type of architecture. While it would be ideal to find a home that meets all your desires, first focus on finding one that meets your needs. Many of these features can be added later on when selecting your new residence.
On a third list, make a list of items you don't want in your home. This could include too many stairs, fixer-uppers, undesirable areas such as those close to freeways or far from downtown.
It may be that you do not have the luxury of being too picky. You might be able to downsize while building credit and building equity in your home, then trade it in for a larger one later on.
More people they put in their pipeline every month
Praxis Credit does not need a referral from Realtors & Lenders in order to provide services, however it's wise for both sides to have an ongoing conversation. As an established lender and banking institution, it's beneficial for everyone involved to be on the same page regarding credit. While we may not be required to address all items raised by the lender, having communication is always beneficial.
When seeking a referral, please follow these steps:
1. Meet With Your Loan Office and Lending Agent
This is an essential step. Doing so will let you know ahead of time that you have been approved to purchase a certain number of houses, helping avoid disappointment when searching for your ideal home only to discover that it's not possible.
Option 1 - The ideal option - You obtain your Letter of Support/Paper that informs the Realtor that you have met all qualifications to purchase and the amount owed.
Option 2: Have Praxis Credit Consulting send an email introduction to your lender for you.
Budgeting Tools has been created to give you a basic understanding of how to manage budgeting principals.
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These steps will assist you in discovering the ideal agent.
1. Online Comparison of Real Estate Agents Comparing real estate agents online allows for an informed decision.
2. Refer a friend
3. To experience the real thing, visit your local housing market
4. A minimum of three agents must be present.
5. Ask the Appropriate Questions
Asking questions that are pertinent and insightful can be a key aspect of success when conducting market research.
No matter if your mortgage company has not been able to approve you for your dream home, people with poor credit have more options than ever before. If you don't know your credit score yet, now is the time to find out.
Speak to a credit specialist and create an effective plan to improve your score over time. Show the mortgage company that you are serious about improving your credit. Next, do some research. Search for local mortgage brokers who specialize in helping those with credit problems; local newspapers and magazines may help you locate a specialist.
Advertisements often claim we can help you purchase a home regardless of your credit history, including bad credit or foreclosures. In certain circumstances, however, you may qualify for programs like 'purchasing a house with the option to buy' which allow you to make an agreement with either the landlord or homeowner.
A down payment of between $3000 and $8000 will be necessary. The higher your deposit, the lower your monthly payments will be. In some cases, they may contribute part of your rent towards purchasing the house you are renting if you have not missed any payments. After 12-24 months, your landlord or homeowner will convert your lease into a mortgage and turn it into equity. This will enable you to become an owner and boost your credit score. All transactions should be documented; in addition, hiring a lawyer to review any'rent with the option to buy' agreement can prove beneficial for those involved. If renting with the option to purchase isn't your style, there are other options.
Foreclosed properties can usually be acquired at annual tax sales and in many states you don't need excellent credit to buy a home. One thing is essential for the county or city tax office: a cashier's check or money order for the entire amount of the sale.
Today, mortgage lenders offer many loan products with flexible terms and low payments. Unfortunately, those with poor credit may find these offers to their advantage.
Let's say you want to refinance your home or take out a loan for equity. Even with bad credit, home loans offer the perfect solution: debt consolidation quickly and reduced monthly payments without needing perfect credit! So if you qualify, don't stress if your score isn't perfect!
What Does "Bad Credit" Mean for Your Mortgage?
Your credit score plays a vital role in many aspects of life, such as when applying for a loan. Lenders take into account any bankruptcy filings and past loans when deciding whether or not to approve your application. If they're not satisfied with your history, you could face lower rates or require more downpayment than usual.
Borrowers with poor credit can still secure home loans for bad credit. Cash-out refinance allows borrowers to switch their existing mortgage for a new one and receive extra cash flow. Homeowners looking to pay down higher-interest debts like credit cards may find this option advantageous; however, be aware that withdrawals reduce your stake in the investment.
Finding a loan for your small business can be simple if you do your due diligence. Your chances of approval can be enhanced by understanding your business and finding the best loan option tailored towards it.
You can quickly and easily obtain a loan for your business in six easy steps.
1. Determine the type of loan you need to finance your business venture.
Your goals will determine the type of loan that best meets your needs. In general:
Traditional term loans can be used to fund large purchases and business expansions. These lump sums of money can be repaid over time with interest, with SBA loans granting up to $5 million in borrowing capacity. Many lenders provide customized products tailored towards growing businesses such as vehicle purchases or equipment loans.
Credit card debt can be reduced slowly. However, credit card debts can be reduced gradually if you have a realistic strategy and follow it.
There are many options available to consumers for paying off their credit card debts. This does not mean that the balance will disappear magically. Most consumers will simply transfer the money to pay off the debt. Here are some tips to consolidate debts, pay off credit card balances, and more.
Refinance Mortgage Loan
Are you one of the many people with credit issues? Bad and poor credit are more common than you might think and shouldn't be something to feel ashamed about. With some effort and determination, however, you can improve your rating significantly.
Even with bad credit, it's possible to get a car loan. There are some things you should take into account before beginning the search for your dream automobile, though. Never accept any vehicle payment that you cannot afford; using a bad credit car loan as an opportunity to rebuild your credit is much worse than purchasing one without enough funds available - buying such an item could further damage your rating.
To be eligible for a car loan with poor credit, you must have enough income to cover all bills and cover the cost of maintaining and insuring your vehicle. Even if your credit isn't perfect, steady employment could help get approved for a bad credit car loan. Make sure your current address remains updated throughout this time so lenders won't overlook your poor credit history and increase the chance that approval will come easier.
Financing your car with a bad credit loan requires making an impressive down payment. Depending on the model of car you select, this amount could range anywhere from hundreds to thousands of dollars.
If you're in the market for financing a vehicle, becoming a member of a credit union could be beneficial. Credit union loan application criteria tend to be less stringent than those used by banks and finance companies, meaning that even with bad credit they may be more willing to approve your application for a car loan.
Can I get approved for an auto title loan with bad credit?
You are not your credit score, you can get an auto title loan with bad credit. They do not base loan approval on your credit score, unlike many other loan centers. Title Loan Centers, kinda care about their customers, and know your credit score is not a reflection of you as a person. They use the equity in your car – not simply looking at your credit history – to arrive at your qualifying auto title loan amount.
That’s why you can qualify for an auto title loan with no credit check at all! Because you use your car as collateral, your credit score won’t affect whether you are approved for a loan with us. It is understandable that everyone needs a little financial help from time to time, and these loans can help in the correct or most dire situations. .
Why Should you choose a Title Loans?
Loan approval process as easy and fast, so you can get the money you need and get on with your life.