debt: How Credit Scores Are Determined - 11/03/10 04:47 PM
 
Many consumers know their credit score number, but few understand how scores are determined. As we noted yesterday, algorithms assign weighted values to five key financial factors to derive credit scores. By addressing these five factors, credit repair professionals can help consumers repair their credit and rebuild their credit scores. Having already covered payment history and credit report inquiries, we complete our discussion today.
 
Debt-to-credit ratio. Potential creditors look for a healthy balance between current outstanding debts and available credit, such as unused credit card limits, home equity and bank credit lines. For example, if you have charged $2,500 … (4 comments)

debt: RE: What to due if you get a collection dunning letter - 08/16/08 04:14 PM
Daily Q & A's
 
First of all, what is a Dunning Letter?
Answer: It is an over due letter to the customer which talks about customer over due amount and due date, a reminding letter of missed payment.
 
How do we approach collector's dunning letters?
 
I suggest  to pay the collection if the dunning letter was just received and it is not reporting yet on the credit report.  You have 30 days to pay it after receiving the dunning letter before they report it to the bureaus, that is why it is smart to always jump on these … (0 comments)

debt: Steps to keeping creditors happy and off your back - 07/15/08 05:07 PM
Steps to keeping creditors happy and off your back
 
If you can’t afford to pay your creditors what you owe, paying them at least something will keep them happy and off you back. Be in good communication with each creditor and pay each one as much as you can. Use the worksheet to determine how much you can send each creditor. Send each creditor your budget, the payment, and this worksheet each month, even if they say they won’t accept it.  
 
Determine how much to send each creditor
*First find out how much disposable income you have to … (0 comments)

debt: How Do I Negotiate a Debt - 07/10/08 06:30 PM
 
How Do I Negotiate a Settlement in a Debt Case?
 
I AM BEING SUED. IS IT TOO LATE TO WORK OUT A SETTLEMENT AGREEMENT? No. The parties can agree to settle a case at anytime before the judge enters a final ruling.
 
WHAT ARE THE ADVANTAGES OF SETTLING A CASE?
The settlement amount is generally less than the amount being sought or the amount being claimed in the complaint.
 
It saves you time: you often have to return to court numerous times before a case is resolved by the court.
You can negotiate a payment arrangement over … (0 comments)

debt: Sample Cease & Desist letter - 07/10/08 06:23 PM
 
Sample Cease & Desist letter
(Send certified mail, return receipt requested)
 
Date:
 
From: (you: name and address)
 
 
To: (the original creditor and or the collection agency: name and address)
 
 
RE: (account name and number)
 
 
Dear______,
 
This Letter will serve as your legal notice under federal law that regulates the activities of collection agencies and their representatives.
 
You are hereby notified under provisions of public Law 95-109, Section 805-C, THE FAIR DEBT COLLECTION PRACTICES ACT to hereby CEASE AND DESIST in any and all attempts to collect the above debt.
 
(0 comments)

debt: TAKE CONTROL OF YOUR FINANCIAL FUTURE- 4 STEP ACTION PLAN - 07/10/08 06:10 PM
 
TAKE CONTROL OF YOUR FINANCIAL FUTURE- 4 STEP ACTION PLAN
 
STEP #1- MAKE A BUDGET
      
TRACK YOUR SPENDING FOR AT LEAST ONE WHOLE MONTH AND KNOW WHERE EVERY DOLLAR IS GOING BY GOING THROUGH YOUR BANK STATEMENTS AND RECEIPTS
 
DO THE “SURVIVAL BUDGET” TO FIND OUT HOW MUCH  MONEY YOU NEED JUST TO SURVIVE (DON’T LEAVE OUT ENTERTAINMENT, IT’S NOT ABOUT CUTTING OUT EVERYTHING THAT BRINGS YOU JOY IN LIFE, BUT ABOUT BETTER ALLOCATING YOUR MONEY)
 
DO THE “MONTHLY CASH FLOW PLAN”- IN ADDITION TO YOUR SURVIVAL NEEDS, THIS HELPS YOU FIND WHAT YOU CAN … (0 comments)

debt: Free Sample Debt Settlement Offer Letter - 07/10/08 06:02 PM
Free Sample Debt Settlement Offer Letter
Today's Date
Your Name Home Address Phone Number
Attention: {name of collector or collection agency}
RE: Collection letter dated {date of letter here} or phone call on {date of call here} reference account #: {account or reference number}
Dear {Collector's or Collection Agency's Name}
I do not agree that I owe as much as you claim I owe on the above referenced account. In an effort to save both of us a great deal of time and expense I am offering to settle this account for $ ________.  (see alternative text … (0 comments)

debt: 5 Biggest Credit Mistakes & How You Can Avoid Them - 07/10/08 05:43 PM
 
5 Biggest Credit Mistakes & How You Can Avoid Them
Imagine spending a third of a million dollars more than someone else just because your credit score wasn’t as high as theirs. Unfortunately, it happens all the time. This happens all the time to consumers who have a lower credit score and are put into loans with higher rates and fees.
Here are some quick facts to get you started on your credit awareness and improvement campaign:
A "Good" Credit Score: Scores generally range between 350 and 850. A score of 720 or better is considered "Very Good" … (1 comments)

debt: How To Raise Your FICO Score 100 Points in 45 Days - 09/06/07 12:28 PM
How to Raise Your Credit Score 100 Points in 45 Days
Brought to you by www.StrategicCreditCoach.com the credit repair experts. 
GET RID OF YOUR COLLECTION ACCOUNTS.
Did you know that paying a collection account can actually reduce your score? Here’s why: credit scoring software reviews credit reports for each account’s date of last activity to determine the impact it will have on the overall credit score. When payment is made on a collection account, collection agencies update credit bureaus to reflect the account status as “Paid Collection”. When this happens, the date of last activity becomes more recent. Since the guideline … (8 comments)

 
Jennifer O'Brien (Credit, Wealth & Success Coaching)

Jennifer O'Brien

Fair Oaks, CA

More about me…

Credit, Wealth & Success Coaching

Address: PO Box 125, Fair Oaks, CA, 95628

Office: (877) 825-7885

Fax: (877) 825-7885

Mission: We educate and coach people looking to improve their credit score and overall financial health so they are able to learn financial disciplines and achieve a more secure future. Vision: To raise the standard of living for all people and inspire them to live their passions and dreams and have piece of mind.


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