fico: Changes in Credit Score when Collection DLA gets updated... - 07/17/08 06:21 PM
Changes in Credit Score when Collection DLA gets updated...
There has been conflicting issues about what happens when a consumer pays off a collection and how after they pay it off their FICO score goes down. Common sense would say if you pay a bad debt off, that this is a good thing.
With my clients I've seen on several occasions where someone pays an old collection account and then (all other things being relatively equal) their score goes down because the (DLA) date of last activity gets updated. 
So what really happens when you pay off a … (1 comments)

Give your Real Estate or Loan Broker office the edge!
Runtime: 90 minutes
National Trainer, radio personality, and passionate speaker Mickey O’Brien has daily interaction with consumers who have credit and overall financial health issues.
Mickey’s primary focus is to educate borrowers, Realtors and loan originators about subject of credit scoring and cleanup as well as their overall financial health.
Mickey takes the mystery out of how underwriters view the credit score, providing case studies and solutions to common challenges experienced by many borrowers. … (0 comments)

fico: 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)

fico: Tour de France and Your FICO Score - 07/14/08 06:18 PM
Tour de France and Your FICO Score
I’m an avid watcher of the Tour de France and noticed a lot of similarities in the struggles of life’s finances and the grueling trials of the race.
This year during the Tour a racer, Cadel Evans crashed, completely wiped out, slammed against the road at over 40 miles per hour, his flesh being left spread across the road. (Doesn’t this sound like the financial struggles of 2007?)
Cadel picked himself up, with knee, shoulder, elbow all bloodied, and got right back on his replacement bike. Any normal person would … (0 comments)

fico: Avoid credit repair scams - 07/14/08 05:01 PM
Avoid credit repair scams
Cleaning up your credit history could get you into more of a financial crunch if you hire the wrong company.
Here's how to not get conned.
These days’ banks are tightening up their guidelines and are clutching on tighter to the almighty dollar, making it harder to qualify for loans. This is a warning that some companies are using the credit crisis to take advantage of consumers who want to clean up their credit. Here are some top tips on avoiding these scams.
1: Get the skinny
According to the Better Business Bureau complaints … (0 comments)

fico: Top 7 Things NOT To Do (The 7 Deadly Credit Sins) - 07/10/08 06:37 PM
Top 7 Things NOT To Do (The 7 Deadly Credit Sins) 1. Do NOT attempt to repair your credit without being properly informed. You need to do your research before attempting to repair your credit file or you may do more harm than good. 2. Do NOT file bankruptcy until you have consulted a professional or non-profit agency. 3. Do NOT cancel all of your accounts and consolidate all of your credit cards into one. This will most likely harm your credit. Attempt to pay them down to under 30% of the limit of the card. Start on the smaller … (0 comments)

fico: When getting a secured credit card can help - 07/10/08 06:16 PM
When getting a secured credit card can help
 Secured credit cards:
We recommend getting a few of these types of cards when a client has either not enough good and open credit, or no current accounts in good standing;
The benefits:
*You can build a new clean credit history and reestablish good credit which will help raise credit scores
*You use it just like a regular credit card, but the risk is low because the money you borrow on the card is your own deposited money and you choose your own limit
Take note:
*you … (1 comments)

fico: 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)

fico: 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 the credit repair experts. 
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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