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American Debt Foundation
http://www.americandebtfoundation.com
Freedom from debt is just a phone call away. We
are, a division of Money Management International, has helped thousands of
people get out of debt, regain financial stability, and save for the future.
We can do the same for you.
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- Customer Information
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Debt Management Form) |
American Debt Foundation
http://www.americandebtfoundation.com
Credit Counseling
Call Us Today For A Free
Debt Management Quote!
1(866)411-3328-
1(866)411-DEBT
- Assess your financial situation
- Develop a spending plan
- Set financial goals
- Create an action plan.
Counseling is available
online, by telephone, and in person at
select locations throughout the Texas Gulf Coast Area. To find a location
near you, please call 1-866-411-3328 DEBT
To realistically assess your financial situation, you need to develop a
complete picture of your income and expenditure. Complete our debt and
income worksheets to determine your debt
to income ratio.
To determine if a consumer loan fits your budget, check your figures by
using the Loan Calculator
Remember, financial freedom is within your reach. To take this important
first step just pick the credit counseling
option that best suits your needs.How
to Raise your Credit Score The value of diligently tracking your credit
score is often
underestimated. Failure to know what is on your credit rating can keep you
from qualifying for loans and in far too many cases will cause you to pay
higher interest rates.The trick to raising your credit score is no secret,
but it does take
diligence and hard work. First, check to see what is on your credit report.
You can usually obtain a copy of your credit report for free on a trial
basis from a number of agencies. Take caution, however, not to overuse these
offers. Requesting too many credit reports can actually have the opposite
effect on your credit score. When lenders see a large number of credit
report inquiries they assume it is due to applying for loans and credit
cards. This translates to money problems and lowers your credit score. At
the most, you should only request your credit report one to two times per
year. That should be sufficient for you to stay on top of your credit score.
Make sure you obtain a three-in-one report. There are several credit
reporting bureaus and each one calculates your credit score in a slightly
different manner. It is in your best interest to
find out what is being reported by each agency.If you do have a bad credit
score, some of the items that contributed
to your rating will take time to clean up, but the good news is that some
can be cleaned up in just a matter of days.
Save yourself some money and time and steer away from offers from companies
who claim they can fix your credit score for you.In most cases, these
companies charge a small fortune and do very little. There is really no
secret to fixing your credit.
You can do it yourself and save yourself their expensive fees.When you
receive your credit report, be sure to review it carefully. While most of
the information your report will probably be accurate, there may be some
information that is completely in error. For example, you may notice that
while you distinctly remember paying off a bill in the past, it is now
showing up as delinquent on your credit report. In worst case scenarios, you
may realize you have been the victim of identity theft and someone else is
having a good time at the expense of your credit rating.
If you do see something on your credit report that looks suspicious or that
you know is completely in error, write a letter.
Keep it brief, but state in clear terms what the situation actually is. If
you paid off that bill, include copies of backup
documentation; such as cancelled checks or receipts. Mail the letter
certified with a return receipt requested.
Be aware of what factors contribute to your credit score. Payment history,
account balances, age of established credit,
recent inquiries and opened accounts, credit mix are the five major factors
that makeup your credit score.
Don’t succumb to offers for a certain percentage off a purchase if you open
a charge account. That 10 or 15% you might save
on your purchase isn’t worth the negative impact on your credit score.If you
have a lot of credit cards, don’t feel you need to get the scissors and
start cutting. Credit cards can work to your advantage if used properly and
responsibly. For the most part, credit score formulas look at the balances
on your credit cards; if you’ve maxed them out, etc. Closing out accounts
won’t necessarily improve your credit score. If you know you have a problem
with charging everything simply because it’s convenient, lock away all your
credit cards except for an emergency card. Then begin a diligent effort to
begin paying down the balances on your credit cards. Experts recommend that
at any given time you should always have at least 25% of your remaining
credit limit available and unused. Additionally, don’t think that
consolidating your credit card balances
on one card will help your credit score. Extensive moving around of money is
a red flag to lenders and will usually hurt
you more than help you.
If you do have an account that has a zero balance, don’t think it will raise
your credit score to close out the account.
That zero balance account is actually helping your credit score.
Make sure you pay your bills on time, every time. Set up some kind of
reminder system if it helps or even set up your bills
to be deducted straight from your account.It may take awhile to raise a low
credit score, but the effort is well
worth the reward.
Credit Counseling
American Debt Foundation
http://www.americandebtfoundation.com |
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